The real estate market in Nashville, like all other areas of the United States, is in a state of flux. The state of the real estate market needs to be analyzed and observed for real estate agents, mortgage lenders, and homebuyers and sellers to make rational decisions based on it.
Experts from the Nashville Chamber of Commerce have explained that the real estate market is improving, but that it’s not by much. It’s important that we all stay realistic about the current state of the entire nation’s real estate market. Jobs aren’t as abundant as they were in the recent past, and so many people are not relocating to Nashville as readily as they were in previous years. However, construction, like the brand new Music City Center, will not only improve tourism, but will also bring in countless new jobs for people, that will help the economy in Nashville, as well as the real estate market. Nashville continues to thrive in a shaky economy, but it is not immune to economic realities. Real estate is still being bought and sold in the area, so if you’re looking to make a move, there are many great options. Talk to a real estate agent today to discuss your options.
After weeks of getting ready for Christmas with the decorations, presents and all, it passes ever so quickly in only a day and a half. Now that it is over, if we are lucky, we get to continue visiting with family and friends, eat some additional good meals and relax before the start of another year.
Looking back on this time last year it was a time filled with fear of the future and the unknown wrapped up with promises of changes from a new president that would be sworn in by the end of January. No matter what your political affiliation, we seem to be at a better place this year than last. The economy isn’t exactly rocking along but it is much better than it was at this time last year. And though there are still many out of work, let’s all be hopeful that jobs will be the present for many in 2010.
I wish you all the best for the week remaining in 2009 and continued success and happiness throughout 2010! Let’s make it the best year ever!
Though the job situation is still not great and expected to get even grimmer before it turns around, there are a lot of things that are good about our economic situation today over this time last year! If you recall, the nation was told we were on the brink of financial collapse if the government didn’t move quickly and whether you like government intervention or not, it seems to have worked thus far. No one knows what the cost will end up being but if our economy can come back stronger than ever, we just might be able to get it under control.
Of course, I am an optimist. I still believe we can do anything we put our collective minds too. All I know right now is the life of those around me, while still tough, is slowly getting better. It will improve even more as soon as the jobs situation turns around. I have heard that this could happen sooner than later as well as toward the end of next year. Whenever it happens, we should be ready to celebrate and work together to improve the lives of all Americans.
Tennessee is one of the greatest places to live in work in the US and those of us who have lived here fro very long can certainly verify that is true. But what do people who don’t live in this fine state think about Tennessee? Well, in a recent Harris Interactive poll that asked Americans where they would live if they did not live in the state they did now, Tennessee was #9! As I looked through the list you saw the normal states that you always read about, California, Florida, Hawaii, Colorado, Arizona, Washington State and Oregon along with North Carolina, Texas and Tennessee.
I think it’s great that Tennessee is being recognized as a great state to live in and it’s really over due. The state has worked hard over the last to decades to become a forward thinking region that is well rounded for both work and play. We have a many industries from the new green sustainable industry to automotive, medical, insurance and of course music. This puts Tennessee in a great position to ride out and come out on top once the economy kicks back into gear, which is very good news!
Here is the top ten from that poll.
- California
- Florida
- Hawaii
- Texas
- Colorado
- Arizona
- North Carolina
- Washington state
- TENNESSEE
- Oregon
The Federal Reserve has met for the two days earlier this week in order to discuss the next move in regard to interest rates as well as whether to maintain some of the aggressive programs that were put in place this past year to fight back the devastating consequences of the failing economy. They did announce on Wednesday, August 12, 2009 that it will keep short-term interest rates at a record low in order to further stabilize the U.S. economy. Though this may seem to be a bad sign, the Fed also signaled confidence in the recovery, saying economic activity is “leveling out.”
This is just another step toward our economy coming back around though everyone does expect the progress to be slow. If you go back to other economic times you will note that unemployment is one of the last areas that rebound so we may be seeing that number rise even more before it finds its tipping point and dips into acceptable levels once more. This is much better news than we were getting six months ago and there will be challenges ahead but as a nation we are going in the right direction.
According to an article in the New York Times in late July, the slide in home prices is slowing down. Apparently, for the fourth consecutive month, there has been modest improvement in housing prices as found by the Standard’s & Poor’s Case-Shiller Housing Index that reports data for 20 metropolitan areas.
“For 16 months, beginning in October 2007 and ending in January 2009, the Case-Shiller index posted record annual declines. As recently as February, all of the 20 cities in the index showed a decline from the previous month.
In May, only five of them did. The cities that are still dropping are Las Vegas and Phoenix, the two places where the bubble was the worst, and Miami, Seattle and Los Angeles. Prices improved in 13 cities.”
While this is promising news, it is still predicted that a stable housing market is quite a few months away, never mind one that is increasing in value. This can also be affected by the current economic picture both positively and negatively and long term recovery will have to wait for the trends to become reality over time.
If you were to listen to the news you might think that the economy is in a perpetual slump that will not come back for several years. However, I happen to have a friend who is a HR consultant who works with several large HR and corporate entities around the US, Canada and Europe who tells me that the work load she experiences is always about six months ahead of the economy. It was from discussions with her that I got a heads up in 2007 that the economic picture was softening.
In a recent conversation I found out that her workload has increased to the point that she has to turn down work because she cannot get to it. If past experience holds true then the economy should start turning around toward the end of this year into the beginning of the next. That certainly doesn’t mean we are out of the woods and everything will be great overnight but it does give me some hope for better days ahead! I will be watching to see if my friend is a better indicator than the news. Thus far she has been 100% correct in the past 12 years that I have known her.
