Bill Diebenow Properties

Nashville Yards lead developer Southwest Value Partners and its co-developer, Anschutz Entertainment Group (AEG) — which is handling the project’s entertainment portion — have released an updated master plan, plus details and renderings for at least a half-dozen proposed buildings.  The mixed-use development is slated for 7 acres of green space, according to an attached letter from architect Gresham Smith. Nashville Yards is one of the city’s biggest, most transformative projects. Situated at an entrance to downtown, the development has already secured tenants like Amazon, Pinnacle Financial Partners and Bass, Berry & Sims — with others expected to follow suit.  The master project was spearheaded by lead developer Cary Mack, who said that his property will contain at least eight residential towers by the time it's complete. If approved, the following two projects — which would add to the district’s planned or completed development that currently includes two Amazon-leased ...

That's a question I hear often. A recent KeepingCurrentMatters article, that I have summarized, identifies 4 important points below. So how do you know when to make your move? You want to time it just right so you can get the most out of the sale of your current house. You also want to know you’re making a good investment when you buy your new home. You may not realize it...but the opportunity to get the best of both worlds is already here. You don’t want to wait until spring to spring into action. The current market conditions make the remaining winter months an ideal time to get started on a move. Here’s why: 1. The Number of Homes on the Market is Still Low Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market than there are homes available. Listing your house now makes it the center of attention. Priced correctly, you can expect your house to get multiple strong offers and sell quickly this season. Experts pro...

The Business Journals analyzed home-value data for the 100 largest metropolitan areas, as tracked by Zillow, between Dec. 31, 2020, and Dec. 31, 2021. The U.S. housing market, across all 933 markets analyzed by Zillow, saw values jump 19.6% in that period, but most of the largest metro areas outpaced that rate of growth — some by a wide margin. In Greater Nashville, prices surpassed the national average with a 27.08% increase, ranking No. 17 out of the top 100 largest metros. The adoption of remote work could shake up where people and jobs move to next, in 2022 and beyond, and ultimately create more demand in the Sun Belt, the Midwest and Mountain West regions. Some overlooked or off-the-beaten path housing markets may also provide savings for first-time homebuyers and renters that are more mobile than ever. The 2022 housing market is already off to a competitive start with inventory, once again, proving to be the biggest headwind. In their latest  Housing Market Update , Redfin fo...

The residential market revved hot in January because of 2 factors: steady buyer demand came up against low inventory . The Business Journal summarizes the latest Housing Market Update from Redfin. "Many sellers seem to be waiting until spring, so the inventory shortage is especially intense right now, leading to a renewed surge of bidding wars and buyers making offers that waive inspection and financing contingencies." New listings fell 12%, the largest drop since June 2020, dragging the total number of homes for sale to another new low. 45% of homes this month found a buyer within two weeks of being on the market nationally. 35% of homes are going under contract within a week. This speedy sales cycle leaves the active listings down 29% from January 2021. (Watch the brief video below for benefits of selling or buying during the winter-spring transition.) Offseason Intensity Traditionally offseason times in the housing market, including winter months, are no longer truly slow....

The Sun Belt dominates Zillow’s list of hottest housing markets (click for article) for the second year in a row. The housing market in 2022 is expected to remain hot overall. And Nashville looks to be among the leaders (anticipated at #6). The Zillow author points out that many of the same trends that drove the market to new heights are still firmly in place. Price Growth Home value growth in 2021 consistently broke records, both nationally and in many local markets. This growth has been fueled by historically low mortgage interest rates, pandemic-influenced decisions on where households want to live, and demographic shifts – both from aging millennials and retiring/downsizing boomers – that have all combined to keep housing demand very high. At the same time, inventory of available housing has been limited, as builders play catch-up after years of underbuilding and sellers list their homes in fewer numbers. Inventory & Velocity Both restrictive supply overall – fewer sellers wi...

Rental increases reached a dramatic level in 2021. According to ApartmentList.com  (click for article), “Over the course of calendar year 2021, the national median rent increased by a staggering 17.8%. To put that in context, annual rent growth averaged just 2.3% in the pre-pandemic years from 2017-2019.”  Middle TN's local markets recorded Nashville up 21.3%, Franklin 26.4% and Spring Hill 28% over this past 12-month period. That's stunning! Realtor.com projects prices for vacant units will grow 7.1% in the next 12 months. If you’re a renter facing rising rental costs, you might wonder what alternatives you have. If so, consider homeownership. One of the many benefits of homeownership is it provides a stable monthly cost you can lock in for the duration of your loan. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says, “...fast-rising rents and increasing consumer prices, may have some prospective buyers seeking the protection of a fixed, cons...

Yes, they are still climbing. National home prices increased 18% year over year according to the December 7, 2021 CoreLogic Home Price Index Report. The October 2021 HPI gain was the highest 12-month growth in the U.S. index since the series began in 1976. And I am pretty sure I have quoted similar "never seen such growth" data a number of times this year. Right?  Rather than review more stats from the rear-view mirror, let's look forward. Where will we be on the appreciation graph a year from now? Will home prices keep rising? Most forecasts call for home price appreciation to moderate in 2022. The Home Price Expectation Survey, a survey of over 100 economists, investment strategists, and housing market analysts, calls for a 5.12% appreciation level next year.  That's no reversal. It would represent solid appreciation from a national perspective. What about high-demand markets like those in Middle TN? Looking at the region’s numerous economic drivers and new corporat...