New Listing in Brentwood Pointe, The View

"The View" is the final edition to Brentwood Pointe, the expansive condo development in Cool Springs. Located on Gen. George Patton between Moores Lane and Mallory Station, convenience to shopping, dining, and I-65 have always been a big selling point for these condominiums. As its name implies, most of Brentwood Pointe is in Brentwood; however, some of the newer units, like "The View," actually fall into Franklin. *(If you would like to watch a five minute overview of the whole development, check out my Brentwood Pointe video).

The newest of the new View are the units in the 1800s (go up the hill, hang a left at the pool). Most have sold out; however, the developers (Haury and Smith) still have a cul-de-sac to finish. They are currently asking $295,000 for the new construction with three bedrooms. My new listing, 1847 Brentwood Pointe, was built in 2006, has loads of upgrades, and is on the market for $284,500.

1847 Brentwood Pointe has three bedrooms (master down), two and a half baths. With a vaulted ceiling and gas fireplace, the living room manages to feel simultaneously spacious and cozy. The kitchen boasts granite countertops and stainless steel appliances. Take your coffee from the kitchen outside to the very private back deck. Or relax in the oversized whirlpooltub in the master bathroom, which also has a seperate shower. Upstairs is a loft space (great for an office or media room) which overlooks the living room. Two more bedrooms on the second floor share a bathroom. There is also a suprisingly large utility room for a washer/dryer, along with easily accessiable storage space. It's also nice to be able to pull your car inside the garage on cold winter days.

Other upgrades include high grade Berber carpet up and downstairs, custom moldings, recessed and upgraded light fixtures, designer painting, ceiling fans, window coverings and treatments, cable access in every room, and storm doors with screens. The deck has outdoor carpet, a collapsible picnic table, and an additional privacy gate. The associatin fee ($150 a month) include trash pick-up, insurance, pool upkeep, building exterior, and grounds maintenance. This is an end unit that maximizes privacy and the ease of condo living.

Contact me at 615-545-8611 if you are interested in taking a look at 1847 Brentwood Pointe. There is a little additional information on area condos on my Franklin and Brentwood TN condos page. You can look at all homes and condos listed in Middle Tennesse from my web-site's home search page. If you would like to discuss condos in Franklin, Brentwood or Nashville, don't hesitate to get in touch with me.

2010 BEGINS WITH INCREASE IN HOME SALES

There were 1,033 home closings in Greater Nashville during January, representing a 6 percent increase from the 974 closings reported during January of 2009. Nashville condominium sales were up considerably.

The median residential price in January was $159,000 for a single-family home and $154,550 for a condominium. That compares with median prices of $165,000 for both condominiums and residential in January of last year. There were 1,295 sales pending at the end of January, compared with 1,282 at the end of January 2009.

Inventory is down to 22,233, compared with 22,509 in January of 2009. You can click here for a copy of the news release with more detail on home sales for January. And, you can click here for access to information on home sales by county and historical home sales data available on the GNAR website.

West End Condos Update

The auction a couple of months ago at the West End Condos was a great opportunity for buyers to pick up a bargain. These luxury one, two, and three bedrom units went for around 60% of their asking price. For example, a three bedroom on the 5th floor with 2,633 square feet that was asking $810,000 went for $365,000. A two bedroom on the 4th floor with views of downtown that was listed at $710,000 went for $340,000. A one-bedroom on the 8th floor went for $242,500 at auction that had been priced $595,000.

Unfortunately, those deals seem to be gone. The sales agent representing West End Condos said that only two of the buyers at the auction have backed out. The rest have closed or are in the process of closing. There were a few units that were not sold at auction - either because they were held back or the developer wouldn't let them go at auction prices. There are still a handful of 2 and 3 bedrooms left, atlhough the developer is flatly turning down auction prices. Expect to pay 30% to 35% off the asking price, which still may be a good deal... Just not as good a deal as two months ago.

If you have questions regarding the West End condos or any condos in Nashville, TN, I hope you'll consider getting in touch with Nashville Realtor, Jeff Fulmer at 615-545-8611.

New Price on 1005 Gracelawn Drive in Brentwood

Looking for an affordable home in Brentwood with a great yard and beautiful views... 1005 Gracelawn Drive is located in the Hillview subdivision which is just off of Manley and Holly Tree Gap (close to Murray). Hillview Estates feels tucked away in the Tennessee hills, but is less than 10 minutes to Brentwood, Cool Springs and Hillsboro Road/Grassland area. It is also zoned for Scales Elementary, Brentwood Middle and High School.

At 1604 square feet, this is one of the smaller house in Hillview and is priced accordingly at only $285,000. Orginally priced at $309,000 (and appraised in October 09 for $300,000, this is going to be a great deal for someone. The property has a level 1.25 acre lot with a fenced backyard, mature trees, and wonderful views from every side of the house.

The recently remodeled house is on one level and features hardwoods in the living and dining room, tile floors in the kitchen. There is a buckstove fireplace in the living room which helps to efficiently heat the house. Three bedrooms and two full baths are situated on one side of the house. On the other side is a two-car rear entry garage.

If you have any questions or would like to take a closer look at 1005 Gracelawn, feel free to contact Brentwood Realtor, Jeff Fulmer, at 615-545-0080. Also, if you are interested in any other homes in Brentwood TN, don't hesitate to let me know.

Pending Home Sales Stabilize, Remain Above Year-Ago Levels

Washington, February 02, 2010

Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in December, increased 1.0 percent to 96.6 from 95.6 in November, and remains 10.9 percent above December 2008 when it was 87.1. In November, the monthly index had fallen by 16.4 percent from surging activity in preceding months.

Lawrence Yun, NAR chief economist, said it’s important to recognize how the tax credit is skewing market data. “There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” he said. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels. December activity was the fifth highest monthly tally in two years.”


Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for a tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

The PHSI in the Northeast rose 2.3 percent to 76.1 in December and is 14.9 percent higher than December 2008. In the Midwest the index increased 5.2 percent to 86.9 and is 8.7 percent above a year ago. Pending home sales in the South rose 2.2 percent to an index of 98.4, and are 5.5 percent higher than December 2008. In the West the index fell 3.8 percent to 119.9 but is 18.6 percent above a year ago.

Yun projects the extended and expanded tax credit will encourage 2.4 million households to take the credit in 2010. “While new-home sales will remain low due to a lack of construction, existing-home sales are projected to rise to around 5.6 million in 2010,” Yun said. Last year there were 5.16 million existing-home sales.

He added that one of the greatest benefits of rising sales will be firming home prices. “For several months now we’ve been seeing stabilization in all of the home price measures as inventory is pulled down,” Yun said. “As a result, the housing wealth for many middle class families has begun to stabilize.”