Happy Friday! I am excited to be partnering with Zillow today to talk about real estate in Nashville. Nashville is growing rapidly and has so much to offer.As a recent home owner, I have seen how much the housing market has changed in just a short time. Nashville is growing rapidly as are home prices. While having a knowledgable real estate agent is important, home buyers really need to take the home shopping process into their own hands and that’s where Zillow comes in. Zillow helps you filter homes for particular areas, price points, school zones, number of bedrooms, bathrooms and more. I found my current home on Zillow, and I’m happy that I caught it that day because by the time my daughter and I looked at it there was already an offer on the house. Luckily, they accepted my offer. In a speedy real estate market time is of essence – it’s important to move fast when you’ve found your dream home.
Want to know more about what you can expect in the Nashville area? Zillow has provided the following post for my readers:
By Jennifer Riner of Zillow
Maybe you already live in the Music City and crave a change of pace in one of Nashville’s unique neighborhoods. Or, you might be a newcomer yearning for the cultural liveliness that flows throughout the city, regardless of your specific location. Whatever your reason for making a move within or into Nashville, starting your search on the right foot is imperative. With so many great neighborhoods offering various schools, nightlife options and recreational activities in Nashville, it can be difficult to narrow your scope. In a mid-size metropolis like Nashville, limiting home searches to neighborhoods with high return on investments is financially smart. After all, a home purchase is a huge asset – why not make it a profitable one for the future?
To narrow down your Nashville home search, check out the top three neighborhoods with the fastest rising home values, according to Zillow.
Buena Vista Heights
The median home value in Buena Vista Heights sits low at $80,300, making it a viable choice for most budgets. But what makes Buena Vista Heights stand out is the increasing home values in the area. Over the past year, home values as a whole increased 14.6 percent year-over-year, with a 5.5 percent increase seen just in the last quarter. Moreover, 51.8 percent of homes located in Buena Vista Heights increased in value – which means half of the homeowners from 2014 made money on their properties, assuming they would receive asking prices comparable to estimated values.
Hadley-Washington is also widely affordable with a median home value of $88,000. While 94.1 percent of homes saw an increase in value over the past year, homes in general rose 17.3 percent year-over-year as well. Not only are the vast majority of homes seeing their investments increase, but they are increasing rapidly at high percentages. Imagine if the current median home value rose another 17.3 percent in the next year – home buyers today paying $88,000 could expect to build another $15,224 of equity, bringing their new home value for 2016 to $103,224 in just 12 months.
Haynes Area homes are slightly more expensive than the two aforementioned neighborhoods on this list at a median of $102,600. But, this doesn’t mean home values aren’t increasing at a rapid rate. Year-over-year, homes in the Haynes Area neighborhood rose 15.9 percent. And, out of all homes in the neighborhood, 94.2 percent showed an increase in value. Overall, homes in Nashville rose 10.6 percent over the last year, making it a hot market for sellers. Zillow predicts home values will rise another 3.9 percent in the next year, which gives current buyers a strong return on investment in the near future. So no matter what cross streets you choose to call home, Nashville offers high investment potential for new and seasoned home buyers.
***This post was brought to you by Zillow***