Things seem to be warming up now and the real estate market in Nashville looks like its warming up too. When I chat to realtors in Nashville at some of the open houses or real estate functions you get the feeling that everyone is becoming a lot more optimistic about the homes sales for the coming year.

The Ashton Real Estate Group of RE/MAX Elite has had one of the best starts in the last 3 years for home sales and new listings in January and February. The number of registrations on our website is also a good indication of the rising interest in buying a home in Nashville again. Visitors to the site have gone up from around 900 a day to just under 1500 a day. That represents a siginificant increase in the number of people searching on line for "Nashville Real Estate". Obviously not all of these visitors will use our agents to buy a home immediately but its a good indication of the things to come. People have to start looking at homes and doing some research before they jump in to buying a home.

The rental market is still strong in Nashville and investors are still making some great investments in rental single family homes, duplexes and quads etc. The apartment buildings tend not to come on the market for sale due to the fact that the demand for apartments is high.

As people start to realise that the mortgage rates are going to start creeping up, which increase people to re think their rental situation, we'll see more and more people move from being ba renter to a home buyer. This will give the home sales another little kick, which in turn will send the signal out that the market for homes in Nashville has turned and that you really need to get on board and buy before the market turns and becomes a sellers market.

As the economic indicators start filtering back down through the media we''ll see the publics confidence in their personal future start to become more optimistic which in turn leads to a re kindling of interest in the real estate market.

2011 could be a great year to be in real estate again!!!!

So far, more than 50 artists have volunteered their time and creativity to reinvent water-damaged instruments as art pieces, and musicians like Rich Eckhardt and Brady Seals have donated instruments to the cause.

The benefit concert will be held October 23 at Soundcheck, located at 750 Cowan Street, Nashville. Tickets are $35 in advance and $45 on the day of the concert, with all proceeds going to MusiCares Nashville Flood Relief and the Nashville Musicians Association Flood Relief Fund. The performers are yet to be announced, but updates and complete details can be found at RetuneNashville.org.

This is a really great cause, and a wonderful opportunity to support the Nashville music community by picking up some very special artwork.

-From the writing team of Gary Ashton, RE/MAX Elite Nashville.

In fact some people love it so much that they either end up staying, or taking a healthy slice of the city's undeniable spirit and charm away with them.

Take Gwyneth Paltrow, for example. The Oscar-winning actress spent three months in Nashville, working on the forthcoming movie Country Strong, and fell head-over-heels, absorbing the whole country vibe. In fact, she has just released the eponymous title track as a single and so far, the feedback's been pretty good.

In Country Strong, which co-stars Tim McGraw, Paltrow plays fictional character Kelly Canter, a faded and troubled country star, traveling along a bumpy comeback trail. More than 100 Nashville-based musicians have contributed to the movie, and Paltrow herself took singing lessons and had to learn to play the guitar, for the part.

Soon after leaving Music City, the star wrote of her love of Nashville and the great places that she had visited. On her popular blog GOOP, Paltrow enthused about the people, the food, bars and venues that she encountered during her stay, and boy, she certainly appears to have made the best of her time here! Among her many recommendations were old favorites such as Ryman's Auditorium and Grand Ole Opry as well as the Station Inn, Loveless Caf, Swett's and City House. She also investigated many of Nashville's lesser known coffee bars and food stores.

Obviously a lover of exploring, Gwyneth also made a point of checking out Nashville's great shopping, and she recommends her favorite finds with great enthusiasm. As if that wasn't enough, this latest Nashville-phile also suggests a number of musicians her readers should check out, and where the best places are to go for a day with the kids. If she carries on like this, they'll be making this California girl, an honorary Tennessean!

And of course, let's not ignore that fact that shooting of this movie certainly brought some significant economic benefits to many Nashville businesses and residents, due to the determination by the production company to source, and use, local expertise.

The single Country Strong was released on Monday (July 26) and the movie of the same name is due for release in December.

-From the Gary Ashton Writing Team

It may seem bad enough that some unfortunate folk, keen to fulfill the American dream of home ownership, got scammed by unscrupulous lenders in the first place, but now the vultures are finding new ways to line their pockets at the collective expense of their fellow citizens.

Mortgage Fraud

A rash of high-profile mortgage fraud cases have increasingly come to light, both at corporate and private levels, illustrating just how widespread the problem really is, and has been for some time. One only has to punch in the words 'mortgage fraud' into any internet search engine, and the volume of stories being reported in the world's media makes for dizzying, and depressing, reading.

Thankfully, the authorities are taking such crimes very seriously, and a number of significant arrests and convictions have been made in recent months, further highlighting the nationwide problem. The FBI, under its 'Operation Broken Dreams' banner, has implemented several regional mortgage fraud teams, dotted around the US, with the specific task of investigating local duplicity and bringing offenders to justice. Mass arrests have taken place from coast to coast, involving defendants alleged to be responsible, collectively, for a staggering loss of $2.3 billion. Further investigations are underway, and more arrests will doubtless follow.

And while many people are unsurprised by the exposs of serious deception in the upper branches of the mortgage tree, with once-regarded financial fat-cats being hauled through the courts, the level of grassroots swindling, has come as something of a shock to others. Countless trusting homeowners, thinking they were avoiding losing their properties, were duped into deed transfer scams which left them with nothing; and the con artists with considerable wealth.

So the average American, faced with so many uncertainties, also needs to beware predatory 'assistance' from those who seek only to feather their own nests, at any cost. It seems that greed not only assisted us on the journey to our current position, but it looks certain to keep us here too, if we're not careful.

Foreclosure Advice

It often appears that when we need genuine advice the most, it is harder to come by. Rather than trust the first guy in a suit, who comes along with a deal that sounds too good to be true, we should make sure that we are armed with all of the information that is available to us.

Most areas have foreclosure avoidance counseling programs, on offer to struggling home owners, and while they may not always be able to get us out of a difficult situation, they will certainly be able to help us avoid getting into a worse one. So, before any agreement is made, or any contract signed, it is essential that we understand all the options, and potential pitfalls, before committing ourselves to any life-changing decisions. And hopefully, we will get to keep hold of some of what we worked for, without filling the wallets of those mercenary plunderers.

-From the Ashton Real Estate Group Writing Team

This move could provide some much needed relief to those whose homes are now worth substantially less than they were just a month ago. To qualify, "Any building or improvement damaged by more than 50% of its pre-flood value or rendered unfit for use or occupancy for a period of more than 30 days, may qualify for a prorated reduction," according to the Office of the Property Assessor of Davidson County.

To apply for a reappraisal, call the assessor's office at (615) 862-6059 or fill out the form on the official site before September 1st.

In other tax news, House Democratic Leader Gary Odom and Senator Douglas Henry have proposed a break on sales tax for those buying major appliances or building materials to repair or replace items damaged by the flood. Items covered include fridges, vacuum cleaners, washers, and other appliances under $3,200. Cleaning supplies and building supplies under $500 would be included as well.

So far, eligibility would only include homeowners who have received assistance from FEMA, and the tax breaks would only go to those whose homes have been damaged by the flood.

Details of the proposal are still being hammered out.

The Gulch is situated near the central business district on 60 acres of land lying west of the CSX Railway, bordered by McGavock St. on the north, 8th Ave. on the east and I-65 on the west and south. Construction cranes have dominated the landscape since 2001, erecting what will make-up approximately 25% of the downtown's residential properties.

The plan, which has been 10 years in the making, is a collaborative venture between private developers and the City of Nashville that incorporates a bike and pedestrian friendly street grid, renovation of more than 80% of the existing buildings, and the development of eco-minded residential towers. The city has been very proactive with the project, infusing $7 million of capital and providing developers with tax incentives. The plan also utilizes a business improvement district overlay, meaning a fraction of a cent is added to taxes on each property in the area to help pay for marketing and branding of the Gulch and services such as street cleaning.

Residential Development

The Gulch has a variety of options for the trendy urbanite to call home. The Icon and Terrazzo are towers offering luxury living with designer homes ranging between $300k and $2 million. For the more budget minded there is The Velocity; a low rise condo with units starting just over $200,000, and the Laurel House with rental units priced as low as $550/mth. The concept of The Gulch was not just to create somewhere for people to live, but to form an urban environment that was self supporting and also created a destination for those living elsewhere in the city. The neighborhood, which was designed to foster a sense of community, is attracting a diverse range of people including music label executives and professional athletes.

Commercial/Retail Activity

The goal of Jay Turner, MarketStreet's Managing Director, was, "...to make sure businesses moving in fit the idea and prevailing hip attitude of The Gulch, and that they complement each other". There will be no shortage of eating options with upscale dining, bakeries, bistros, and cafes available to suit every palate. Shoppers will also be pleased with the boutiques, galleries, and funky shops, including the trendy Urban Outfitters. For the night owls there will be clubs and music venues.

In a stand-off akin to the "chicken and the egg" saga, it took some time for the developing neighborhood to attract a major grocery store. Store owners would not locate to the Gulch until there were enough residents to support them, and residents were reluctant to come unless there was a quality grocery store; fortunately, Nashville owned grocer The Turnip Truck will be opening a 9200 square foot store in the Gulch this fall (2010).

The Gulch is also poised to become a hot bed for business activity. Located at the edge of the Central Business District and within minutes to West End Ave., Music Row and Hillsboro Village, the area hopes to attract an eclectic mix of locally owned businesses, growing companies and public corporations. With loft offices, upscale office space and large studios the Gulch is the ideal locale for the growing business with a modern edge.

The Greenest Neighborhood in the South

It is often said that 'the whole is more than the sum of its parts ' and this is certainly true for the Gulch. The developer's goal was to create an environmentally friendly community that was pedestrian friendly and self-sustaining. That goal was realized with the distinction of becoming the first in the Southern U.S. and the13th neighborhood in the world to receive "LEED for Neighborhood Development" certification from the United States Green Building Council. LEED, which stands for Leadership in Energy and Environmental Design, is a program that recognizes low impact, eco-friendly design principles and the newly introduced LEED ND certification singles out neighborhood development that meets the same stringent criteria.

The Gulch scored high in many of the LEED ND evaluation categories; however, especially high marks were given in the Smart Location & Linkage category, acknowledging its proximity to the downtown central business district, public transportation, major rail lines and prominent traffic corridors to downtown. With more than 1,100 daily bus stops within a quarter mile area, The Gulch also scored high for reduced automobile dependence. Recognition like this rarely goes unnoticed and has resulted in The Gulch being named by Men's Journal Magazine as one of the Top Ten Best Neighborhoods in the Southern United States.

Time to Rethink Downtown Living

For years it has been thought that downtown Nashville had lost its spark. Well, thanks to revitalization of The Gulch, the fire is burning bright again. With its trendy shops and eateries, vibrant nightlife, chic residences, and overall community feel, The Gulch is being compared to the cool urban environments found in larger cities like Los Angeles, San Francisco, London and New York; only with a Nashville twist.

So, if you were thinking downtown Nashville was not hip enough anymore, you should check out The Gulch, but be careful; you might not want to leave.

Landmarks like the Grand Ole Opry and LP Field have extensive damage, and countless homes have been ruined. What's particularly sad is that most people in the area did not have flood insurance.

Boston.com has a heartbreaking collection of photos that really capture the devastation.

(AP Rusty Russell/Getty Images)

A number of celebrities, including Taylor Swift, Reba McEntire, Kenny Chesney, and Keith Urban have shown their support for Nashville by donating their time and money.

Residents are also pitching in and doing everything they can to help their neighbors. Tennessee is known as "The Volunteer State," and this is truly being demonstrated right now. In fact, the website for Hands on Nashville had to get upgraded in order to handle the overwhelming traffic they've been receiving from people looking to get involved.

Local businesses are also helping out by donating proceeds from sales to relief efforts, as well as by donating food and bottles of water to both volunteers and those in need.

So many people are hurting right now, but it's amazing to see the wonderful camaraderie that's been displayed by my fellow Nashvillians. As one commenter wrote, "I have never been more proud to be called a Tennessean. It has been amazing watching neighbor helping neighbor. People have not hesitated to help one another as they see the need. I personally am thankful for the leadership our mayors and governor have shown in the midst of this crisis as well as the cool, calm, dedicated spirit of all our residents and emergency workers."

Want to help?

Text "REDCROSS" to 90999 to make a $10 donation to the American Red Cross Disaster Relief Fund. You can also call 1-800-REDCROSS, or donate online via RedCross.org.

For a current list of volunteer opportunities, visit Hands on Nashville's site.

You can also check out Nashvillest's list of places where you can donate your money, time, or belongings. You can also follow Nashvillest on Twitter for frequent updates about organizations and individuals that could use a helping hand.

It's only been a few weeks now into 2009 and the real estate market in Nashville Tennessee seems to be showing signs of picking up. One of the major indicators of this increased activity is the number of appointments agents are making to show homes. The Appointment Desk is a subsiduary company owned and operated by the owner of RE/MAX Elite in Nashville, Robb Campbell. Robb has seen the showings double from the month of December and that is in the first two weeks of January 2009.

This increased activity at some point will result in sales and the buyers will close on homes and hope that they bought at the bottom of the market. The other buyers who are waiting for the bottom are playing a game of poker with no real idea of when th game is going to end. The economic stimulus packages and interest rates at historic lows are all supposed to act as catalysts for the economic recovery and housing sales is seen as one of the major forces in that recovery.

The low interest rates have helped a lot of people refinace their homes which should allow more diposable income back into the economy but the downside of the low rates for refinance is that this will also have the effect of the homeowner becoming more invested in their home and in away become financially embedded in the home. In other words, as the mortgage rate they have refinanced at is so low, when the rate does go back up, they will be looking at not only an invrease in the value of the home they are buying but also a higher mortgage payment. This may encourage people to stay put and make do with what they have or remodel their homes. This has the adverse effect of slowing down the real estate market.

Only time will tell how quickly the real estate market will bounce back but for the forseeable future, which a constantly growing population and the need for basic human comforts, housing will continue to be a growth industry and this period will be seen just as a blip in an otherwise steady increase in real estate sales.

February Update

The number of showings continues to rise and the overall activity in terms of registrations to search the MLS have increased too. The price range of homes that seems to be the most active is in the $100 to $200,000 range. In January there were 273 single family homes closed and 79 condos.

Of the 273 single family homes that were sold 64 of these were under $100,000. In the $100,000 to $200,000 price range there were 125 homes sold in January. In the $200,000 to $300,000 there were only 43 homes sold. $300,000 to $400,000 there were 23 homes sold. $400,000 to $500,000 the number of homes sold was significantly lower at only 6 homes and only 11 homes between $500,000 to $,000,000. The luxury home price range of over $1,000,000 showed there were 2 homes sold and the most expensive home sold in Nashville was shown to have a sales price of $1,102,000

These figures are for single family homes only and exclude and condo sale and commercial real estate sales. Also excluded are any private sales that did not involve the transaction being entered into the MLS. This typically would account for new construction sales and for sale by owner transactions.

As of 2/14/2009 there are were 554 homes for sale under $100,000. in the $100,000 to $200,000 there were 1715 homes for sale. in the $200,000 to $300,000 price range there were 812 home actively for sale. $300,000 to $400,000 showed 338 homes for sale. $400,000 to $500,000 the number of homes actively for sale was 160. $500,00 to $1M showed 331 homes for sale and finally in the $1M plus range there were 204 homes for sale.

These figure exclude any of the homes sold in Williamson, Sumner, Wilson, Robertson and Rutherford counties. The figures just concentrate solely on Davidson county.

I have to say that in Nashville we really haven't seen any decline in the demand for information about the real estate and homes for sale. Inquiries are actually up around 30% from this time last year for our team, The Ashton Real Estate Group.

What is noticeable though is the attitude and state of mind of the buyer. The media helps to build up peoples expectations and preconceived ideas so all the talk of the mortgage sub prime crisis, the possibility of a $8 gallon of gas, the possible government bail out of Fannie Mae and Freddie Mac, has the buyer looking, looking some more and then looking some more still.

All the delays and lack of confidence actually feeds in to the downward spiral of real estate values if it is left unchecked. For example, if a buyer that is currently renting is looking to buy in the 300-350,000 price range they will find they have lots of inventory to choose from. The down side of this is that the buyer knows that have the time to keep looking even when they have found a home they love. People cannot resist the temptation to just look a little longer just in case that dream home is just around the corner. For the seller though this sends out mixed signals. The buyers have provided all the buying signs, the great feedback, they love the home, the neighborhood etc but they still aren't buying. The home must be priced right otherwise the buyers would be giving back all sorts of negative feedback regarding thier expectations.

So, as the home is priced right, the marketing has done its job and they buyer is ready and able to buy so whats the seller to think when that perfect buyer just doesn't make an offer? The realtor will have one answer for the seller...it's the price. If we can drop the price the home will become the most attractively priced in their price range and they will see the value and make an offer.

The downside to this is that the sellers will make the price reduction in hopes of attracting back the interested buyers but in doing so they send a signal out to the market that their home isn't selling and so they have had to reduce the list price to attract any buyers. Now the buyers that were interested in the home come back to the home but as this seller reduced their price so did all the other homes in the neighborhood in attempt to stay current and competitive in their pricing.

The buyers now will still make a low ball offer as they see that the sellers are serious enough to drop the price...therefore they must be motivated. When the home does sell the sales price sets a new comparative sales price and in doing so pushes the competitive list prices down even further.

So is the market driving down the sales price, the media or the realtor?

I think that it's a measure of all sorts of factors but desire to sell when the mindset is ready to move is a great motivating factor and some people will just be happy to sell and move on so that the everyday hassle of selling a home is behind them.

In the next few months I think we'll see more and more list price reductions and the buyers become more and more confident about making low ball offers and seeing other deals go through that really set the bar in terms of negotiating the sales price down.

Nashville Area Home Stats: Click HERE