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Nashville News vs Local News on Real Estate

istock_000000813107xsmall1Recently on the local news I heard that the real estate market is taking a turn for the worse once again.  As a REALTOR®, I feel you should know that what you hear on the TV news is geared toward their market.  The news on channel 2, 4, and 5 is geared toward Nashville.  It is not about Clarksville, unless otherwise noted.

As anyone who watches the local real estate market would know, Clarksville is unique.  We have frequent turn overs due to military and other support personnel moving in and out.  As a result our market is never stagnant. Yes there have been some tough times, but the we are getting through them. Our city was recently ranked the 2nd in the nation as a Safe Haven in real estate.  So, if you find that you need to sell your home,  you find yourself upside down on a loan due to not owning it long enough, or the neighborhood has deteriorated and so appraisals are now coming in lower than the value of your home, ask a realtor to help. There tools available to them which may be of assistance to you in your individual situation.

So, how is the local market faring?  Let’s take a look.  We will be comparing in Nashville (Davidson County)  vs. Clarksville (Montgomery County)  for the months of January, February and March of 2008 and 2009.

Davidson County Closed transactions

2008 Number 2009 Number Up/Down
January 514 January 277 Down
February 546 February 365 Down
March 631 March 397 Down

So yes, the real estate market is not doing too great in Nashville compared to last year. But there is room for hope as  the numbers have gone up every month since January 2009.  Not by much but at least it is not going backwards.  So let’s look at Clarksville, Montgomery County.

Montgomery County Closed transactions

2008 Number 2009 Number Up/Down
January 190 January 218 Up
February 221 February 232 Up
March 204 March 270 Up

As you can see we are still on a steady climb, it is not much of a climb but we are not in the kind of market that the local news is talking about either.  March was a very good month.  We will continue to see our numbers improve. I have faith in our community, our clients, and the local reality professionals.

Tips on selling a home

The keys to selling are:

  1. Price
  2. Location
  3. The Condition of home
  4. …your terms.

Many buyers will ask how long a home has been on the market, and then modify the amount that they will offer you for your home based on that statistic.

In closing find out who the local news sources are, and what area their  news is geared toward.  It never hurts to contact a local REALTOR® to find out how our market is doing.

Thea Long
Thea Longhttp://www.diariesofafruitcake.com/
As an Assistant Loan Officer for VA Mortgage Center and a retired REALTOR® with Coldwell Banker Conroy, Marable & Holleman, Thea has been investing in Real Estate for 12 years now. She has been a member of the Chamber of Commerce since 2007. In her spare time, she sings the National Anthem for Chamber events, military events and sporting events, including the Nashville Predators opening season in 2007/2008, and the Nascar Qualification at the Atlanta Speedway 2008. She is currently Ft. Campbell, KY Operation Rising Star 2009. Thea Long, previously Agnew,  is no stranger to Clarksville, TN. Raised in a military family, she graduated from Northeast High School and all three of her children are attending and graduating from her alma mater.  Her hobbies include writing, reading, research, marketing & design, blogging, sports and exercising.
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