LaVergne Home Sales

I just posted a new listing on Nicole Lane for a friend of mine.  The husband is in the National Guard and they are being transferred out of state for pilot training school.  Click on the Homes for Sale link up above and take a look at the beautiful home on Nicole Lane – if you’d like a personal tour, call me!

Speaking of homes for sale, here are numbers for August.  They do not include figures for homes that are under contract – only those now available and those that have closed.

Total Active: 504
Least expensive: $58,900 – mobile home on Pearcy Street and $84,900 – site built on Hickory Road, 3 bedrooms, 1 bath
Most expensive: $454,900 – Hampton Road Estates, 3962 square feet, 4 bedrooms, 4.5 baths.

SOLD 2006
August 1 – 31:  90
January 1 – August 31:  682

SOLD 2007
August 1 – 31:  71
January 1 – August 31: 524

I believe that although our numbers are lower from this time last year, we are now seeing more qualified buyers so the risk of foreclosures is less.  Now really is a good time to buy because prices are steady (or less than this time six to twelve months ago) and I’m not just saying that as a Realtor!

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5 Responses

  1. Kathy, do you have any idea of how the foreclosures are affecting the area. I am very concerned as I see foreclosure sales where houses are priced lower today than they would have cost new in 2003.

  2. I was just reading an article that foreclosures have doubled since last month (national average) and that one in every 510 homes is being foreclosed. The reasoning is that so many people bought these homes in the housing boom of 2005-06, but they financed using adjustable rate mortgages which have adjusted UP, thereby making the mortgage payment unaffordable. I believe this actually means we are in a good buyer’s market – and will be until home inventories go down. Once the building slows down and there is more demand for homes than the current market glut, then prices will again go up and homes will be sold more quickly. If you are a seller who must sell, you should absolutely count on pricing it right or it will sit there. If you are a qualified buyer, you now have the ability to pick and choose.

    But to answer your question, MiLV, just ride it out. The market will make its adjustment by this time next year. Ride it out.

  3. Don’t get me wrong; I plan on staying in my home for many years. It’s not my personal prpoerty values that get me, it’s the concern of who is moving to La Vergne.

    People on this board already tend to agree that housing is too affordable in La Vergne and that draws the in thug crowd that brings down our area. It’s going to become even worse if home values dip even slightly, because more people will be able to buy a house even cheaper in La Vergne, and then that will encouage our good neighbors to sell their house at a loss and buy in Smyrna, Nolensville, Brentwood, etc.. where they see home values increasing.

    That’s my fear anyway.

  4. Do you have any mor recent home sales (Sept-Jan.) sales in or near the Woodland Hills sub-division? I am looking for an equity loan or to sell my property at 1209 Highland Hills Drive currently appraised at $ 177,000 by Bank of America and on which my mortgage balance is $ 135,000.

  5. Frank – I’ll do some research and email you later today what I find. Kathy T!

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