Nashville High-Rises

Did you know how many high rises are in Nashville? How many high rises were completed in the past three years? How many high rises are still going up? What are the tallest high rises?

This two tallest buildings in Nashville ranks skyscrapers in Nashville, in the U.S. state of Tennessee, by height. The tallest building in the city and the state is the AT&T Building, which rises 617 feet (188 m) in downtown Nashville and was completed in 1994. The second-tallest skyscraper in the city is 505, which rises 545 feet (166 m).

High-rise buildings first appeared in Nashville with the construction of the First National Bank Building, now the Downtown Courtyard Hotel, in 1905; this building rises 168 feet ( 51 m) & 12 floors.As of October 2019, there are 137 completed high-rises in the city. Twenty high-rises have been completed in the past three years, with another twenty currently in construction, fifteen approved, and another 25 high-rises approved and proposed. Nashville has demonstrated quick approval of many major projects, such as One22One. It was announced in February 2019, with the previous building demolished and ground breaking expected in September 2019. By April 2019 Nashville was starting to get bigger in building depth from the 2010 to 2020+ building spree/boom and will continuously go throughout 2023. Nashville has approximately 35 cranes up as of September 2019.

Nashville’s housing market is cooling. Here’s what you need to know.

After two years of historic year-over-year home value jumps in the greater Nashville market, a cooling trend has taken hold.

NASHVILLE TENNESSEAN

Sellers are dropping prices, buyers are getting more concessions and competition for properties has eased. 

The trend began in the fall, and continues to deliver progressively lower gains to home prices each quarter.

Home owners are still enjoying rising values — but at a more modest rate than during the market’s hottest period, when prices vaulted 32 percent from spring 2016 to spring 2018

Nashville is slowing down faster than the nation,” said Skylar Olsen, senior economist at Zillow. “But I don’t think (prices) will begin falling in Nashville for some time yet.”

Meanwhile, rents are feeling the slowdown too. They rose, year-over-year, just 1.5 percent to a median $1,512 per month in January, according to Zillow. 

Housing market slides

Since April 2017, the 10-county Nashville metropolitan area slid from the third to the 14th fastest growing real estate market among the nation’s largest cities, according to Zillow. 

Cities from coast to coast are experiencing similar housing market deceleration — with the most extreme downturns in Seattle, San Francisco and other areas that saw the most dramatic gains in recent years.”The places where the slowdown is more apparent are places that were moving at such an incredible, unsustainable pace,” Olsen said. “When prices go too far, too fast, demand starts falling back and appreciation slows down.” 

The Nashville area’s real estate industry hit an all-time peak in the third quarter of 2017, according to The Colliers Index, which was developed by the global real estate services and investment management company. 

That quarter was a time of record investment in new offices and a record number of construction permits issued. But, all in all, the news isn’t bad. 

The downturn is a healthy market correction after years of housing price increases outpaces wage gains, analysts said. 

In late 2018, Nashvillians needed to earn a $74,018 salary to afford a home, according to real-estate industry analyst Attom Data Solutions. But the average worker made $59,020. Housing markets are supposed to move closer to income,” Olsen said. “I hope we’ll only be seeing those (record-high home price growth) numbers in the rear-view mirror. It is certainly exciting for home owners watching their values appreciate. But it was really hard for home buyers.”

At the peak of Nashville area’s housing boom in April 2017, 31 percent of buyers paid more than the listing price for homes because competition was so high. 

In January 2019, 13 percent of buyers paid more than the home’s listing price, according to Zillow. 

“13 percent is still pretty high,” Olsen said. “That just tells you we’re not back to a normal housing market. It takes a little bit of time for our expectations to catch up.”

Home buyers are gaining the upper hand in Nashville as demand continues to trend down this year.

Home appreciation has slowed nearly every month since last fall, following year-over-year double-digit growth from 2016 to mid-2018.

In March, price growth mellowed to roughly the same rate as the national average of 6.6 percent. 

Average home values grew by 6.8 percent in March, compared to the year prior when prices jumped 11.2 percent over March 2017. 

The decrease, a result of reduced demand, is also taking place in other fast-growing markets. 

“Nashville is one of the many places where prices were growing at an unsustainably high rate,” said Zillow economist Jeff Tucker. “So a slowdown reverting to a vanilla, boring marketplace I think is good for people.”Neighborhoods with the biggest drop in demand from March 2018 to March 2019 included downtown Nashville, the southern end of East Nashville, Hillsboro Village, Music Row, Spring Hill, Sylvan Park, Forest Hills, Bellevue, Hermitage, Nolensville, and Antioch. 

2019 Real Estate Forecast: What Home Buyers, Sellers And Investors Can Expect

There’s no doubt about it: the 2018 housing market has seen its ups and downs.

The year started with sky-high home prices, historically low mortgage rates and a definitive upper hand for sellers. In recent months though, home price growth has faltered, rates have risen to their highest point in nearly eight years, and favor has started to shift from seller to buyer.

Will these trends continue? Will housing experience the same wild ride in the new year? Here’s what experts predict will happen in 2019 real estate market:

Mortgage rates will continue rising.

“Despite steady climbing for the past two years, mortgage rates remain lower than they were during most of the recession and below average for the type of strong economic growth we’ve been experiencing. That will change in 2019, as the 30-year, fixed rate mortgage reaches 5.8% — territory not seen since the dark days of 2008 when rates were racing downward in response to the housing crisis.” — Aaron Terrazas, director of economic research for Zillow

Millennials will keep buying homes — despite those rising rates.

“The housing market in 2019 will be characterized by continued rising mortgage rates and surging millennial demand. Rising rates, by making housing less affordable, will likely deter certain potential homebuyers from the market. On the other hand, the largest cohort of millennials will be turning 29 next year, entering peak household formation and home-buying age, and contributing to the increase in first-time buyer demand.” — Odeta Kushi, senior economist for First American

“Millennials will continue to make up the largest segment of buyers next year, accounting for 45% of mortgages, compared to 17% of Boomers, and 37% of Gen Xers. While first-time buyers will struggle next year, older Millennial move-up buyers will have more options in the mid-to upper-tier price point and will make up the majority of Millennials who close in 2019. Looking forward, 2020 is expected to be the peak Millennial home buying year with the largest cohort of millennials turning 30 years old. Millennials are also likely to make up the largest share of home buyers for the next decade as their housing needs adjust over time.” — Danielle Hale, chief economist foRealtor.com                                                                                                                                                                                                          superthumb                                                                                             

Predicting The Future Of Real Estate: Transacting In 2025

I’m no Nostradamus, but I’d like to take a stab at what the world of real estate transactions might look like in the year 2025. Yes, it’s only six or so years away, but with the speed at which technology is changing our world, to make predictions any further in the future would be purely speculation. I do like to think about what the future of our industry might look like because it gives us the ability to remain nimble and keeps us aware of trends and changes in the real estate world so we can adapt. Anyone who thinks that real estate transactions are immune to technology and shifting consumer trends will likely find themselves in a different line of work in the not-so-distant future.I see homes in the future being listed not with a couple dozen still photos and a short description, but on a platform developed to immerse the buyer in a 3D environment where they are able to read reviews and comments on a property by anyone who has seen the property physically. Perhaps pre-loaded inspections and repair estimates included in the platform would remove the classically intensely uncomfortable period of requesting and negotiating repairs. How about links to service providers and anticipated maintenance schedules? Everything a prospective homeowner would need to know to make an informed buying decision.

The key here is information — and transmitting it quickly. People expect more and more information and to have to expend less effort to get it. They expect to have even their biggest purchases secured with a money-back guarantee or a trial period. It isn’t too much of a stretch to think that real estate technology that mirrors these expectations would create a new world where the traditional agent transaction is just that — traditional.
Forbes Real Estate

By: Stephanie Betters

What Does the Future Hold for Home Prices?

Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash?

Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market.

The impact of rising interest rates!

We explained earlier this year that rising mortgage rates have not negatively impacted home prices in the past and probably wouldn’t this timeThey were correct. So far this year, home values have continued to appreciate above normal historic percentages and it appears the gradual increase in rates has had little impact on prices.

The economic slowdown!

Many people fear that when the economy turns, we may see the same depreciation in home values as we did a decade ago.

However,we recently reported that the same group of economists, real estate experts, and investment & market strategists who predicted the next recession will occur in the next 18-24 months have also projected that house prices will continue to appreciate for the next five years, albeit at smaller percentages.

Supply & Demand!

As always, home prices will be determined by the demand to purchase compared to the available inventory of homes for sale. For the last six years, demand has far exceeded the available supply which has resulted in the average annual appreciation to top 6% since 2012. That is far greater than the historic norm of 3.6% annual appreciation that we saw prior to the housing boom.

There are currently small signs that housing inventory is slowly beginning to increase. Months supply of houses for sale matched last year’s numbers for the last two months after 37 consecutive months of decreasing inventory. New construction data has also shown positive signs that inventory will be increasing.

As inventory begins to meet demand, we will see appreciation return to more normal levels. We are already seeing projections coming in lower than the 6.2% annual average we have seen more recently.

CoreLogic is predicting that home values will appreciate by 5.1% over the next twelve months and the price expectation calls for values to increase by 4.2% in 2019.

Bottom Line

Mark Fleming, Chief Economist at First American, explained it best:

“We’re seeing the first indications that price appreciation may be slowing, but the underlying fundamental housing market conditions support a natural moderation of house prices rather than a sharp decline”.

How To Use Your Subconscious Mind Power To Negotiate The World

Most of us are aware of the existence of a “subconscious” mind — but we don’t necessarily know what it is, what it does or how we master it. The truth is, your subconscious mind power is an amazing ally when you master it, yet if it stays untamed, it can drive the direction of your life in undesirable ways.

Throughout your life, you have programmed your subconscious with thought habits and beliefs. Just like any of your other habits, the thoughts that you have repeated to yourself have become habits. There’s no difference between a habit such as the sequence of actions you use to tie your shoes and the habit of thinking about yourself in a certain way.

Repetition creates habit. These mental habits are combined with things you have heard from people important to you (such as your parents) and your own personal experiences to form an incredibly complex network of beliefs that help you understand and negotiate the world.

The subconscious mind, just like a computer, does not judge or discriminate between what can and cannot be achieved or obtained. However, the conscious mind evaluates a situation and says, “you can’t do this or have that” based on the programming in place within the subconscious!

As you can see, it can be a vicious circle.

When you learn to master your conscious mind, and imprint the RIGHT programming into the subconscious, you will be absolutely unstoppable.

Watch your business grow by leaps and bounds when using your most expensive computer ” your brain”.