Hello Friends!
It’s spring in Nashville. When the blooms pop out we all seem to emerge from
hibernation. That means the real estate market heightens as well. The selling and buying fever is at a high pitch.
Each month real estate reports seem to say that we have surpassed sales over the same month the previous year. Final numbers for 2016 indicate there were 38,954 homes sold in the region. Compared to the 36,873 closings in 2015, the total sales for 2016 were up 5.6%. Experts say mortgage rates could increase. But in other news…Nashville is still growing by 75-100 people a day.
In 2016 US News and World Report named Nashville the 22nd best place to live out of the country’s 100 largest Metro areas. In 2017 we climbed to the 13th spot.
We enjoy a diverse economy. Specifically we’ve got a 10% margin over most other cities when you factor in our lower cost of living (about 95% of the National average) and the tax benefit to living in Nashville (about 106% of the National average). That extra 10% margin allows Nashvillians to buy homes, pay off education and invest in businesses at a greater rate than most locations. The above facts are hot off the press from the Nashville Chamber President’s speech to my firm a few weeks ago.
I truly thank you for your friendship and your business. Thanks to you I was second in my firm for production for the second year in a row. This is an exciting field of work and I’m always ready to help you or your friends with the right sale or purchase.
Please check out my site that is in the works at DanaBattaglia.com and look for my ads in the beautiful new magazine called 372WN (372WestNashville). Call me when I can be of help!
By Dawn PapandreaPosted: 01/25/17 Updated: 02/09/17
When it comes to purchasing a home, people have many misconceptions, says Craig Garcia, president of Capital Partners Mortgage.
“The homebuying process is harder than you think,” says Garcia, who is based in Florida. “But the more prepared you can be, the better experience you will have.”
To help make sure your homebuying experience is positive, study these real estate and mortgage myths and truths:
Myth: You need a 20 percent down payment
There’s an array of loan options that don’t require 20 percent down, says Garcia.
That’s a good thing. For many consumers, that number can delay their homebuying dreams for years.
There are many programs for first-time homebuyers, especially from the Federal Housing Administration (FHA) and Veterans Affairs (VA). So speak to your mortgage banker about some programs.
Myth: Put down as much as you can to lower your monthly mortgage payment
Saving for a big down payment is advantageous but you also do not want to deplete your savings, says Michael Foguth, founder ofFoguth Financial Group in Brighton, Michigan. His recommendation: Save as much cash as possible for unexpected expenses.
Foguth says, “You shouldn’t overextend yourself. If you use all your cash, you could end up short on your mortgage payment.”
Myth: Save money by bypassing the real estate agent or mortgage broker
While that could prove true in some cases, rarely does the homebuying process go so smoothly that you couldn’t benefit from expert input, says Foguth. That could include a bad inspection report, a low appraisal, or discovering liens against the home.
“Hire a professional and negotiate a fee. Don’t try to do it on your own and think it will be a breeze,” Foguth adds.
Myth: If you get a pre-qualification, you will be approved for a mortgage
Loan approval involves an underwriter sifting through hundreds of pages of documentation, as well as considering other factors like the home appraisal report. A pre-qualification letter, however, is based on a quick, preliminary analysis of your credit report, Garcia says.
Getting the letter is a recommended early step to show you’re a serious buyer, but it doesn’t mean a loan approval is guaranteed.
Myth: Credit score damage will crush your home dreams
Although it might not be ideal, many borrowers are able to secure a home loan even with not-so-stellar credit, especially if they have a significant down payment and strong income.
Garcia notes that your interest rate will likely be higher since the lender is taking a bigger risk on you.
Truth: Finding a new home takes time
46 days is the average time it takes to close on mortgage loan applications.
In other words, don’t count on finding and closing on a home before your rental lease ends next month.
Truth: Once you find a home, be prepared to move quickly
46 percent of homes sold in August were on the market for less than one month.
Garcia says, “People who casually go out and find something that’s perfect, but who aren’t really ready, find themselves scrambling.”
Truth: Small savings add up over time
The difference between a 3.5 and a 4 percent mortgage interest rate equals thousands of dollars over 30 years.
In the months leading up to buying a home, work hard on improving your credit, since the better your credit score, the better the interest rate will be on your loan. Some credit score-boosting strategies to try:
Pay down credit card balances
Correct errors that may be on your credit reports
Don’t open new credit lines
Maintain a clean payment history
The people who have the best homebuying experience are the ones who educate and prepare themselves and take the process seriously, says Garcia. Work with professionals who can help separate myths from truths, and you’ll be opening the door to your new home in no time.
In case you hadn’t heard….Nashville is still booming! There has never been a better time
to buy and sell in this city. Sales for January of 2017 were at a record high, almost 12% over January 2016. Balanced growth is a continuing trend in the city. Couple that with a surplus budget and a terrific Mayor, and we have reason to think the real estate market will remain strong.
Just 10 years ago it was a stretch to find walkable neighborhoods. Now we have such great choices with trendy restaurants, exciting shops and urban housing.
The Charlotte corridor couldn’t be more exciting. From 51st Kitchen in the Nations to Mielat the edge of Sylvan Park, there are a number of high-end choices. There is no end of places for pizzas and burgers, and I personally can’t wait for EIO (I think that is“Everything is Organic”) touted to have some Gluten-Free, Dairy Free options. Anothernew restaurant is opening on 46th in Sylvan Park this spring and the menu looks delicious.It will be called “Answer” and is slated to open late March. At any rate, the Nations off Charlotte, Cleveland Park off of Gallatin, East Nashville, 12th South, The Gulch, Downtown living, Hillsboro Village etc. etc. all hold such great options for lovely walkable neighborhoods with scrumptious foods and tempting stores.At the same time we are blessed with gracious historic homes, contemporary homes and land with sweeping views just outside the city. When I drive around various areas of town with clients, the uniqueness of Nashville becomes so apparent, and I feel lucky to be here.
If I can help you “be here” or make a change, call me!
Dana Battaglia – Realtor
Christianson Patterson Courtney & Associates
Office – 615-202-7777 – Cell 615-504-9792
Tennessee Real Estate License # 265969
One of Nashville’s favorite neighborhoods, Sylvan Park is confined by Richland Creek, Charlotte Avenue and the railroad tracks. With a growing restaurant scene, one adorable boutique, locals who love their community and ample opportunities for exercise, Sylvan Park is a desirable place for many. “Sylvan Park is a lovely, quiet and safe place to live,” says Steve Swartz, membership secretary of the Sylvan Park Neighborhood Association. We couldn’t agree more — here’s what’s to love.
The neighborhood’s continued growth is tempered by the community’s laid-back energy. Families, young professionals and empty nesters come looking to weave themselves into the fabric of the community. Each business owner supports their community and each community member supports neighborhood businesses. Take a look at this eatable, shop-able, walkable neighborhood.
dose. opened in 2009 to bring the neighborhood great coffee, freshly baked goods and tasty lunch options. Their breakfast menu is a favorite at StyleBlueprint for their gluten-free treats, especially the cinnamon scone. Down the road, where Murphy Road meets 46th Avenue, Star Bagel also serves breakfast. Known for their — you guessed it — bagels, Star Bagel is the oldest locally owned and operated bagel shop and bakery cafe in Nashville. In addition to their breakfast and lunch bagel sandwiches, they offer salads, soups and coffee drinks. If you continue towards Charlotte Avenue, you will find the neighborhood’s newer breakfast option, Vegan Vee, a dedicated vegan and gluten-free bakery that creates delicious (whether you are gluten-free or vegan or neither) muffins, donuts, cupcakes, rolls and cookies. They only open their doors on Fridays, Saturdays and Sundays, but you can find their treats sold around town.
McCabe Pub, Park Cafe, Local Taco, Edley’s Bar-B-Que, Caffé Nonna, Nonna’s Pizzeria and Neighbors open their doors for lunch and dinner. These restaurants sit near the newly constructed roundabout and welcome Sylvan Park locals and visitors. McCabe Pub has held court in the neighborhood since 1982. They have Southern favorites, such as meatloaf, chicken fingers, catfish sandwiches, homemade soups, casseroles, hand-cut salmon and of course, burgers. Their bacon burger is aptly named the Best Bacon Cheeseburger in Town.
“We have been very lucky over the last 35 years to be nestled in one of the best neighborhoods in the city,” Stefanie Dean Brown, co-owner of McCabe Pub tells us. “You can’t get a better location in town than Sylvan Park these days. Its proximity to Music Row, Belmont, Vanderbilt and downtown has always made it desirable. Our father was raised in the neighborhood and attended Cohn High School, and my sisters and I were raised in this restaurant, so we’ve been around to watch the change. The Pub has always been a home away from home to many customers — a place where you will always see someone you know or they know you — whether having a business lunch or dinner with your family. I think our customers really represent the best of Nashville, that small town yet big city feel. The neighborhood (and Nashville) has visually changed a lot over the last few years but we think its heart has stayed true. It now definitely consists of many more young families than it ever has in my opinion, but that’s pretty cool because it means Sylvan Park will be ‘home’ to a few in this next and current generation. And, we hope we can stay part of that for many years to come by keeping our hearts true as well. We aim to continue to do what we do well everyday and promise to bring in a few new things here and there just to keep you on your toes.”
Read More about the Sylvan Park Neighborhood at Style Blueprint
Dana Battaglia Homes 