Am I the only one that thinks Nashville Prices are overinflated (Murfreesboro: rental, insurance)

[bran_smith]

check out white house, yes its still a drive, but the closer u are to downtown the more your homes will be unless your in the bad parts of town..oh check out portland as well. me and my husband is looking as well..Good luck

[gbone]

Another statistical item that is often presented is the percent of sales price to list price. Someone will say or you will see it published that sellers are getting 96% or 98% of their list price, which is very misleading. What they don't tell you is that the list price may have been lowered three times and they are only using the final list price for the statistic. If you dig into the listing history and find out the original list price it's not unusual for the percent of sales price to original list price to be no more than 80%. This is another statistical mirage that a good Realtor will be aware of when helping a buyer search for home.

[dreading the move]

thanks Gbone. I learn something new everyday. I had always wondered why the list was so close to the selling price many times although prices are clearly falling. Great info.

[yazbird833]

Hi dreading....
I too am moving my family to the Nashville area this summer. We have a fantastic agent and trust him implicitly. There is no doubt prices will continue to decline over the next 12 months. This correction is long overdue. The sub prime lenders are getting a black eye out of the housing collapse when in fact they aren't the problem.
The problem is due to the Realtors,Lenders and Appraisers in collusion taking advantage of innocent clients. Consider yourself lucky that you are an active buyer in this market. I sure do.

[GrnMtnFire]

Here in Vermont homes that go for 250K are half that here/there in Nashville. I compared a home.

Vermont home here 3 beds 1 1/2 baths 2 car garage...... $295000
same in Nashville $150000-175000. Neighborhoods were comparable.

Condos in the other hand are a bit more expensive there than here in Vermont.

Taxes are WAY out of hand here. I pay 1500 for a 2 bed 1 bath condo.
Houses approach the 3000 to 5000 range.

That's is one reason why I am considering a move to Nashville area.

[1nicecouple]

Originally Posted by GrnMtnFire

Here in Vermont homes that go for 250K are half that here/there in Nashville. I compared a home.

Vermont home here 3 beds 1 1/2 baths 2 car garage...... $295000
same in Nashville $150000-175000. Neighborhoods were comparable.

Condos in the other hand are a bit more expensive there than here in Vermont.

Taxes are WAY out of hand here. I pay 1500 for a 2 bed 1 bath condo.
Houses approach the 3000 to 5000 range.

That's is one reason why I am considering a move to Nashville area.

I'm new to Nashville, but can tell you that anything I have seen less than$275,000 is not very nice. Be sure to compare apples to apples!

[1nicecouple]

And to answer the OP's ?:I find Nashville and especially Williamson county extremely overpriced.It seems that home prices have increased 50%-75% from late 2003 to 2005.We sold our home in a depressed market and find the prices here expensive-for the amenities offered.And we really love the people here!

[Erin80]

Originally Posted by GrnMtnFire

Here in Vermont homes that go for 250K are half that here/there in Nashville. I compared a home.

Vermont home here 3 beds 1 1/2 baths 2 car garage...... $295000
same in Nashville $150000-175000. Neighborhoods were comparable.

Condos in the other hand are a bit more expensive there than here in Vermont.

Taxes are WAY out of hand here. I pay 1500 for a 2 bed 1 bath condo.
Houses approach the 3000 to 5000 range.

That's is one reason why I am considering a move to Nashville area.

I agree with this post. I'm looking to move from Norfolk, VA to Nashville simply because the price of houses here is rediculous and the jobs and pay available do not support it. After looking around I've found that Nashville has the most jobs, with the best pay, and plenty of affordable housing. From what I'm reading now, that doesn't seem to be true! If everyone is saying Nashville is so overpriced, where should I be looking? Where are you comparing Nashville to? I'm open to moving anywhere on the Eastern part of the US that doesn't snow much.

Thanks

[dreading the move]

Just spent second weekend looking for home to purchase. We have finally made the decision to rent. The data does not support putting any money in the Nashville market right now. People still think their homes are worth much more than the comps will support. The sellers have not made the mental adjustment like those of us in the Midwest have already done.

If I could turn the clock back, I would never have accepted this opportunity to move to this market. It is a bad time to be buying property in Nashville, because you will be buying at the top of the market.

I am sure lots of people will disagree with me, but this is my opinion.

[Wild Style]

Originally Posted by Erin80

I agree with this post. I'm looking to move from Norfolk, VA to Nashville simply because the price of houses here is rediculous and the jobs and pay available do not support it. After looking around I've found that Nashville has the most jobs, with the best pay, and plenty of affordable housing. From what I'm reading now, that doesn't seem to be true! If everyone is saying Nashville is so overpriced, where should I be looking? Where are you comparing Nashville to? I'm open to moving anywhere on the Eastern part of the US that doesn't snow much.

Thanks

'as others have said, the places where you really want to live. Closer to downtown like green hills, salem town (some parts), German town etc, the prices are 300,000 easy. Hillsboro too, very nice but damn if it isn't pricey. Nashville is out of hand.