Bill Diebenow Properties

Year-over-year multifamily rent growth was up by double digits in nine of 30 U.S. markets. Metro areas that posted the largest year-over-year increases in rents are all Sunbelt metros that are also experiencing the biggest population growth. Asking rents for non-leased apartments grew 6.3% from June 2020 to June 2021. Nashville saw a 7.7% climb. Click to take a look at the article and study produced by commercial real estate data company Yardi Matrix.

Take note that Nashville is recognized as the best city in the country for first-time homebuyers by financial technology company SmartAsset. Middle Tennessee was actually a double real estate winner in the Best Cities 2021 study (click here) . Nashville ranked No. 1 (and nearby Murfreesboro No. 5) among the 163 the largest U.S. cities. 12 metrics were analyzed across four major categories: home market favorability, affordability, livability and employment.

Nashville’s surging appeal is demonstrated in both its tourism scene as well as its real estate growth. It’s exciting for me to see the thriving parallels in both of my career industries. Nashville International Airport (BNA) passenger numbers have climbed higher than pre-pandemic levels. Check out this brief Nashville Business Journal article .

New construction has been gaining rapid popularity among buyers as homes for sale grow increasingly scarce. But with so many amenities and finish options to choose from, how do you know which features will return the most value for the money? Real estate tech company Dotloop recently spoke to homebuilding experts to get their input on how buyers can get the most bang for the buck. Here’s their top 10 list of trending, high-ROI new home features. Click here for the report.

Music City USA continues to be a juggernaut of growth. CBRE, where I started my career, published this linked article that highlights Greater Nashville’s flourishing economy. The continued expansion is matched by an outstanding labor pool to support the future workforce needs. Yet to complement the native workforce, thousands of people are flocking to Nashville each year. The author cites that Tennessee ranked No.1 on U-Haul’s 2020 Migration Trends report, recording the highest number of Americans moving here from out-of-state, many from the West Coast and northeastern cities.

Covering the Appraisal Gap in a red-hot real estate market. Are you familiar with this growing buyer practice? It is a key element to strengthen your over-asking offer. Sure, the seller welcomes your aggressive bid. But he/she also wants contractual assurance that you won’t be dragging both parties back to the negotiation table a couple weeks into the future. That very well could happen due to an appraisal contingency when the appraisal comes in low and the bank won’t be lending you the full amount you anticipated. Are you prepared to pay an additional amount in cash over the home's appraised value if the appraisal comes in less than the agreed-upon purchase price? That’s what some sellers are insisting on. In one recent and baffling scenario, my buyer client won the day when we actually lowered the above-asking offer by $50,000 but increased the cash cover by $30,000. It’s anticipated that this seller’s market will remain in place for several years, so let's get used to the...

Amazon.com Inc. has signed a lease for another distribution facility in Greater Nashville. The Nashville Business Journal counts this as Amazon's 14th facility in Middle Tennessee, pushing the retailer's total footprint in the region beyond 8 million square feet of industrial real estate. What this means of course for Greater Nashville...more jobs! Click here for the NBJ Amazon article.