Four Contracts at Germantown Station

We have four contracts at Germantown Station. You know what that means...we are breaking ground! Construction will kick off any day now and we will close the first homes later this year.

Germantown Station is 17 single-family bungalows and town homes at 4th Ave N & Van Buren just down from Germantown Cafe. Prices start at $199,500. Germantown Station offers incredible benefits of Green Living that lower the cost of ownership and support a sustainable lifestyle. The energy savings at Germantown Station homes will create a smaller carbon footprint, lower energy expenses, conserve natural resources, and enhance future resale value. Green features at Germantown Station include cellulose insulation, radiant barrier roofs, double glazed low-e windows, dual flush toilets, compact fluorescent lights, and Energy Star appliances.

Take a Virtual Tour.

800 Main Building in East Nashville Renovated

Good news for East Nashville and the area where 5th & Main is located...

800 Main Building in East Nashville Renovated
The Tennessean
By Nancy Deville

The economic recession may have stalled work at the former Bank of America building in East Nashville, but space is now ready to be sold or leased.

The 110,000-square-foot building at 800 Main St. is undergoing renovation and being repurposed for office/retail space.

The facility has been fully gutted, and while no contracts have been signed, developers hope to attract commercial business that will complement the East Nashville community.

"We are open to a full range of possibilities," said Adam Leibowitz with Double A Development. "We are looking to bring more jobs to Main Street. We constantly have people inquiring about the property, and we are always open to accommodate their needs, but it has to be economically sound. We would love to see other office users since it's a good alternative with what is happening downtown."

In response to neighbors in the Historic Edgefield community, developers recently removed the chain link fencing surrounding the building on Main and Woodland Street.

"We decided it was important to take the steps for cleaning up the building, both the interior as well as the exterior," Leibowitz said.

Jason Ownbey, who heads the neighborhood's beautification committee, says neighbors have been working for the past year to tidy up Main Street in hopes of attracting more businesses. The chain link fence was an eyesore.

"There were weeds and trees that had grown up through the fence, and it had become rusty and parts of it were falling down," Ownbey said. "It's amazing to see the transformation now that the fence has been taken down."

Boards have been removed from windows of the red brick high-rise building, and those who pass by can see inside. Some were worried the removal of the fence will make the building a haven for the homeless. Leibowitz said there haven't been an problems, and developers are working with the Metro East Precinct. Officers regularly patrol the area.

"People may think it will increase illegal activity, but it was there before the chain came down and with the area being exposed, it gives fewer places to hide," Ownbey said. "Homeless activity has gone down to nothing since they gutted the building."

Ownbey hopes the space attracts businesses that are compatible with East Nashville to further enhance its redevelopment.

"I would love to see an increase in pedestrian activity to help energize the area," he said. "Main Street is so broad in what it can become. The area could easily become something like The Gulch is developing into and be full of life."

"We've always taken a strategy of redeveloping a neighborhood and not a single building."

Great interview in the City Paper this month with Aaron White & Hunter Connelly of Core Development Services. They talk about their approach to infill development in Nashville's urban neighborhoods and the importance of aligning the look and feel of their buildings and communities with the existing character of the neighborhood.

Read the Article

New WeCar Program Launched

Nashville is making some impressive urban strides. The new WeCar program launched last week downtown is a great step in towards even more urban friendly services for our city's downtown residents. Sounds like there are four cars available for rent at this time at four different locations around downtown, with rates starting at only $8/hour. Check out this article in the Tennessean with all the details.

12South Neighborhood Tour

The 12South Neighborhood Home Tour is this Saturday from 11am-5pm. You can buy tickets in advance at http://www.12southtour.com/. This is a great time to check out some beautiful homes in a great urban neighborhood.

Tennesseans Nab $345.9M in Homebuyer Tax Credit

Full Story
Nashville Business Journal

Tennesseans have qualified for $345.9 million in homebuyer tax credits through the Internal Revenue Service's tax credit program.

Through mid-February, almost 48,000 Tennessee homebuyers had filed returns to collect their tax credits. Nearly 1.8 million nationally have done so, collecting $12.6 billion in credits for homes purchased in 2008 and 2009, the IRS said in a release.

The program ends April 30. To qualify, homebuyers must have a binding contract by that date and must close on the home by June 30.

Homebuyers can receive up to $8,000 in credit for a new home if it is their first home or first home in three years. Existing home owners can receive up to $6,500 as long as they have lived in their old home for five consecutive years during an eight-year period ending on the purchase date of the new home.

Lucy Smith, president of the Greater Nashville Association of Realtors, said the tax credit is driving a surge in sales activity that she expects to continue for the next few months.

Home Sales Increase for Sixth Consecutive Month

March home sales increase more than 21% and first quarter figures up over 11%!

GNAR Press Release:
There were 1,851 home closings reported for the month of March 2010, according to figures provided by the Greater Nashville Association of REALTORS®. This figure represents a 21.6 percent increase compared with 1,521 closings in March of 2009.

Numbers for the first quarter of 2010 were 4,192 closings, up 11.4 percent from the 3,762 closings during the first quarter of 2009.

“Having the number of home closings in Greater Nashville increase more than 21 percent from this time last year is a very encouraging sign,” said GNAR President Lucy Smith. “This makes six consecutive months or two consecutive quarters of positive figures for home sales, which is very good news. It is also good to see the median residential price remaining stable.”

“The tax credit deadline of April 30 for contracts, with closings by the end of June, has certainly been responsible for much of the sales activity. It is reasonable to expect many transactions are being seriously considered right now to take advantage of the tax credit, so it is likely that the positive trends will continue at least though the spring and early summer,” Smith continued.

There were 2,231 sales pending at the end of March, compared with 1,731 pending sales at this time last year. The average number of days on the market for a single-family home was 92 days.

The median residential price for a single-family home during March was $159,250 and for a condominium it was $137,450. This compares with last year’s median residential and condominium prices of $158,000 and $155,704, respectively.

“Inventory is up slightly from last year, and actually up nearly 1,000 units from last month,” added Smith. “This is great news for buyers looking to take advantage of the spring home-buying season and the tax credit. Sellers are putting their homes on the market giving buyers a significant variety from which to choose. The increase in real estate market activity seems to indicate that people are beginning to feel more confident and believe the overall economy is beginning to recover.”

The Greater Nashville Association of REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics.

Greenways for Nashville Annual Meeting

Are you a supporter of Greenways for Nashville? Now is the time to become one! Our greenway system in and around the city is growing rapidly and is quite impressive. I've been on the board for years and feel strongly that there is great value in promoting and improving the way our city manages our greenspaces. Details about Greenways for Nashville at http://www.greenwaysfornashville.org/.

Half Off Downtown Home Tour Tickets

Today's Groupon is half off Downtown Home Tour tickets! Instead of $10/each, they are $5 today only with this deal. The tour is on Sunday, April 18.

Click here for the Groupon: http://www.groupon.com/r/uu558129.

The Downtown Home Tour is a great way to check out urban real estate and envision what the urban lifestyle would truly be like. The homes on the tour are actual homes of Nashville urbanites - furnished and lived in. (Though, there are some homes open during the tour that will be for sale or for rent.) Not sure if you can see yourself living in our city's core Downtown neighborhood? Check out the tour. For $5, what do you have to lose?

1124 Granny White Court

Just listed an awesome home in the Green Hills/David Lipscomb area. 4BR/3.5BA and over 4400 square feet. It is an impressive Tudor that is in impeccable condition. It has a very open feeling with soaring ceilings. The gourmet kitchen has custom cabinetry and high-end appliances. There are two master suites - one upstairs and one downstairs. The second level has a library/office area that is open to the first floor. This home has a two car garage (uncommon in the area) and a media room above it. To view more photos, click here. Priced at $619,900. Email us for more info.