Bill Diebenow Properties

Another exciting tech vote for Nashville!! Global IT consulting company Capgemini confirmed its major new hub in Nashville on Wednesday, forecasting that it will employ as many as 1,000 people. The Nashville office at the Broadwest development in Midtown - also home to Parks Realty - will specifically focus on Capgemini’s capabilities in enterprise application modernization, artificial intelligence, machine learning and IoT [internet of things] solutions. The addition of Capgemini adds another international name to the roster of tech companies in Nashville, bolstering the Greater Nashville Technology Council's push to double the area's tech jobs by 2025. Other notable arrivals include Amazon.com's 5,000-job downtown operations hub, the 8,500 jobs Oracle Corp is planning for a waterfront campus and a hub from a wing of Japan-based NTT Data. Click thru to the Nashville Business Journal article.

A couple interesting stories here. For a broad brush, millennials have accounted for the largest share of home buyers over the past year—37%, reports Barron’s. Expanding wealth, growing families and ultra-low mortgage rates are prompting more millennials (22% of the US population) to become homeowners. Diving deeper, millennials made up a higher share of the potential homebuyers in the Midwest markets and in metros with high-tech job opportunities. Want to check out where they are landing? Metro Nashville sits in the 52-55% quadrant of buyers in the millennials age bracket of 26 to 41 years old. View the following articles. Barron's Millennials Fuel the Housing Market ******* Corelogic Millennial Homebuyers Dominate in High-Tech and Midwest Metros

Ready for a hopeful inventory story in residential real estate? New construction is beginning to pick up after months of builders contending with shortages in lumber, labor, materials, and appliances. While there are still delays compared with before the pandemic, building consultancy Zonda reported a 5% uptick in construction in August compared with July. And with that, I am excited to report that my client's new townhome below is under roof, windows are in place (since the picture was taken), and the electrical rough ins and plumbing are currently being installed. Countdown to occupancy in January. Back to the broader market, residential inventory remains tight. Any seasonal slowdown in the frenzy doesn't mean pricing will fall anytime soon. According to a recent Realtor.com article , the nation is still suffering from a severe housing shortage resulting in more buyers than there are homes for sale. Meanwhile, the millennial generation is larger than the previous one, meanin...

It seems odd that good rental payment practice has until now not been factored into credit history. Wouldn't you think this would be a relevant predictor for a borrower's future mortgage payments? Fannie Mae estimates that 17% of recent applicants who weren’t recommended for a mortgage would have qualified if rental payments had been taken into consideration. Check out this brief Money.com article for this and other credit-qualifying breakthroughs. And make sure to forward this info to your first-time homebuyer friends.

Considering a corporate relocation from California to Tennessee? Since the start of 2018, 272 companies have moved headquarters out of CA and TN is the 2nd highest beneficiary. Destinations include Franklin (Mitsubishi Motors North America, CKE Restaurants, Kaiser Aluminum); Nashville (The Daily Wire, Harrow Health, Yoshi, Revance Therapeutics); and places such as La Vergne (The Icee Co.) and White House (Advanex Americas). Read NBJ's article (click link) detailing how Franklin TN won Kaiser Aluminum's national search - beating out Dallas and Louisville - to relocate its California headquarters. View Bill's short video take (click link) on this article.

Cities across the country are jockeying to entice tech companies and bolster that kind of education at their schools and universities, seeing those jobs as a way to future-proof their economies. The race is on in Nashville, as the region gears up for office hubs from Amazon.com Inc. and Oracle Corp. and as the Greater Nashville Technology Council pursues a goal of doubling the region's tech workforce by 2025. CBRE ranks 50 metro areas in North America in its "Scoring Tech Talent" report (Click link), using 13 factors to gauge each area's ability to attract and develop tech talent across 20 types of professions within that industry. Here are the Nashville metro area highlights: > Nashville has 35,190 tech workers — a leap of 36.1% from the tally in 2015. That is the largest percent change of any U.S. market in that time. It's a gain of 9,330 workers, and the pace is accelerating: Two-thirds of those jobs appeared within the last two years.  > Nashville ...

National home prices increased 17.2% year over year in June 2021, according to the latest CoreLogic Home Price Index Report (click) . While affordability challenges intensify, low mortgage rates, rising savings and an improving labor market are helping to keep homeownership within reach for many prospective buyers. CoreLogic projects home price gains may slow over the next 12 months as demand moderates and for-sale inventory rises. Selma Hepp, CoreLogic Deputy Chief Economist, comments: The imbalance between robust demand and dismal availability of for-sale homes has led to a continual bidding over asking prices, which reached record levels in recent months . . . . Nevertheless, with more new listings and new home construction, home price acceleration that has built momentum, and continues to reach new highs, will likely slow later this summer but remain in double digits.