LaVergne’s Housing Report

Tennessee is ranked 14th in the nation for foreclosures and we’re feeling the pain of that in LaVergne.  Two of my listings are in Lake Forest.  One is on Lake Forest Drive … though it needs a little TLC, it’s a pretty home in a fantastic location.  The other is glorious inside (clean, smells great, beautiful design) but it hasn’t caught the attention of its new buyers yet.

We have dropped the price of 279 Bill Stewart to $124,900 and 221 Lake Forest Drive is now $135,000 (with a lease purchase optional).  If you know ANYONE who is considering a home purchase, please tell them about these great houses and call me!

Here are some housing numbers:

Current Listings:  440
Least Expensive: $48,900 – mobile home w/952 square feet, 3 bedrooms, 2 baths
Most Expensive: $525,000 – Hampton Road Estates home w/4500 square feet, 3 bedrooms, 3 1/2 baths

Homes Under Contract: 55
Homes Sold in April 2008:  51 ($85,000 to $380,000)
   Average Price:  $151,360
Homes Sold in April 2007: 67 ($27,500 to $364,400)
   Average Price:  $149,384

Homes Sold from January – April 2008:  175
   Average Price:  $149,221
Homes Sold from January – April 2007: 234
   Average Price: $148,383

Meanwhile, it’s time for our This is BEAUTIFUL LaVergne award.  If you’d like for Ivy and I to look at your yard, shoot us an email at kathy AT bobparks DOT com.


4 Responses

  1. I guess this isn’t as bad as it could be :)

  2. Did anybody watch the Rutherford County commission meeting last night regarding the bible park. You know, for all the talk we have on this thread about our Mayor/Alderman, we rarely discuss the three Commissioners who represent parts of La Vergne. Do you know your county commissioner?

    I told Doug “won’t somebody please think of the children” Schafer” that I would never vote for him, but then I moved to Carol Cook’s district

  3. This certainly is a worrying trend. I’ve counted six houses for sale in my neighborhood (Ridgemont Dr) and it looks like at least two more have been abandoned. And they are building a new phase of development at the end of my street on top of that!

    I’m, concerned that if my husband were to be transferred in the next year or two we wouldn’t be able to sell. It doesn’t help that a lot of the vacant properties are not being maintained. It’s dragging the whole neighborhood down. I suppose we are fortunate that we can afford our home and actually owe less than it’s worth, though.

  4. The foreclosure issue has to do with the bank lending to questionalbe people. When I first started looking for a home I worked to get prequalified and was offered a no doc loan for 10% I do not remember if it was adjustable or not but I am glad I looked else where and got my fixed 6%. Would you sell a house of $130,000 with $500.00 down? I have talked with friends that bought a new house with a first and second house note with the second adjustable. I think our goverment need to let the banks go bankrupt if they have any questable lending practices.

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