Real Estate News Round Up: August 16th, 2013

This Week in Tennessee’s Real Estate News:

Existing Home Sales Reach Four Year High

The Tennessean :: Written by Tim Mullaney :: August 25, 2013

Existing home sales rose 6.5 percent in July, reaching their highest level in nearly four years, the National Association of Realtors said Wednesday.

Homes sold at a 5.39 million seasonally adjusted annual rate, the group said, beating economists’ forecasts of a 5.15 million sales pace. The sales rate was up 17 percent from the same month last year.

Best three months since 2007. July’s sales rate was the highest since November 2009, when houses sold at… 

Read More: Existing Home Sales Reach Four Year High

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Construction to Start on Historic Germantown Row Homes

The Nashville Business Journal :: Written by Nevin Batiwalla :: August 15, 2013

A new luxury row-home development is set to get underway in Historic Germantown.

By the end of the month Trust Development expects to break ground on Luxus Germantown, a six-unit development at the southeast corner of Fifth Avenue North and Monroe Street.

Jim Creason, president of the local residential development company, said he hopes to have financing closed next week…

Read More: Contruction to Start on Historic Germantown Row Homes

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Expect Land Prices to Soar Near Proposed Ballpark

The Nashville Business Journal :: Written by Nevin Batiwalla :: August 23, 2013

Prices already are going up in the neighborhoods surrounding the proposed Sounds ballpark north of the Capitol.

Grant Hammond, a real estate broker and investor who represents several developers and land owners in the Germantown area, said just the news that the city is pushing for a new stadium at the historic Sulphur Dell site had property sellers calling him to raise prices.

A new baseball stadium north of downtown likely will provide a major boost to property values and attract homebuilders and developers to the nearby neighborhoods of Germantown, Hope Gardens, Buena Vista and Salemtown.

Read More: Expect Land Prices to Soar Near Proposed Ballpark

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