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All over the US the housing market is down, sales are slow at best, but not in Clarksville Tennessee. The US home-price index for the fourth quarter of 2008 has just been released and compared to the same time frame in 2007 it shows an 18.2% reduction in home values nationwide. Clarksville homes enjoyed a 3.5% increase in value for the same period. Our inventory of homes is holding around 1700 and with a time on the market of 100 days we are able to absorb new listings as they come on the market. With the new first time homebuyers tax credit in place and spring just around the corner the sales pace is picking up daily.
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Snow Days in Clarksville, TN Clarksville saw its fair share of snow and ice this past week. A wintry blast sent temperatures diving, snow and ice falling, power lines and trees down, and school buses parked. As I spent time online, I found that through emails and many social network comments, most folks were a bit irritated by the weather , commenting that there was just too much to do to be stuck at home. At the same time, I had two little boys scurrying through the house with much excitement layering on their winter clothes. I thought about the vast difference in a child’s view of this winter blast and many adults. I remember those days when I could hardly sleep with the anticipation of a snow day after hearing a promising weather forecast, and how much fun it was to sled and build snowmen, regardless of how frigid it was outdoors. I decided that perhaps snow days are as just as much for adults as children, nature’s way of forcing us to slow down from our busy lives and enjoy life and the youthfulness we once possessed. I bundled up and joined my boys with their 10 month old sister and set out to enjoy the adventures of my daughter’s first snow day! What a blast! -Alecia Vaughn
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Hemlock Semiconductor Clarksville receives great news !!!!!! The announcement from Hemlock and Dow Corning of a new plant in our fair city is one of the most important events in Clarksville's history. The far reaching impact HSC will have on our community will change us in many ways. The possibilities are numerous, but here are a few of my thoughts. The number of jobs created by HSC The possibility of additional companies (suppliers) locating in the Clarksville area Austin Peay in total will receive over eleven million dollars to tailor a program for future HSC employees HSC and Dow Corning's involvement in the Community and our schools The jobs created by the construction (over 1,000) will last for years As a life long citizen of this area, and one that takes pride in our city and the wonderful way of life we have, I say THANK YOU to HSC, Dow Corning and all the political leaders for making this a reality. - Maurice Vaughn
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I grew up going to Clarksville every Saturday morning. My parents only went to "town" one time a week and believe me we all looked forward to the shops,the food and the socializing. This was brought to mind one Friday evening when along with my wife and another couple we decided to eat dinner at a downtown eatery. I parked on on Second Street in front of what used to be The Northern Bank, and as I walked to the restaurant on Franklin I couldn't help but beam with pride. Legion Street, Franklin Street and "The Square" where absolutely beautiful. Clarksville has grown many times over since my childhood, but I realized that Friday evening that Clarksville will never lose the small town charm. To the Mayor and City Council I applaud the progress you've made. Thank You for preserving our town.
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Real Estate agents, myself included, have been trying to get the word out that the Real Estate market in Clarksville Tn. is not suffering like most of the U.S. As hard as we have tried the pundits have answered by saying "Don't you look at the news or listen to the radio?". The truth has finally been reported by the Associated Press and others. As close as Nashville the average price of a home has dropped 6% in the past year, but Clarksville has seen a 6% increase in the average home price. Having said that our home sales in Clarksville have not been as strong as last year. The most apparent reason for the decline in sales has to be the deployment of most of the 30,000 Military stationed at Fort Campbell. The troops are beginning to come home, so look for home sales to increase very soon!
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5 Myths about Clarksville's Real Estate Market: 1. The housing market is terrible. 2. Every other house has a "for sale" sign in the yard. 3. Clarksville has a record number of foreclosures. 4. Builders are hurting, so a new home can be purchased well under cost. 5. Sellers will do anything to unload their home.
I get so tired of all the media with their gloom and doom stories. I truly believe they sensationalize to try and out do the competition. Yes, the financial market has problems and in most regions of the US you will find areas that have a large amount of foreclosures. Real Estate is and always will be a local business though, granted the internet has changed the way we do business and greatly enhanced the quality of service real estate agents can offer their clients. All factors (lending practices, unemployment, income, etc.) are not the same in every city of our country.
I found an article from the Nashville Tennessean dated 2-5-05 that stated (source www.foreclosures.com) area code 37042 had experienced 326 foreclosures in the past year. I checked www.foreclosures.com today and all area codes in the Clarksville/Montgomery County area collectively have 106 homes in foreclosure.
September 1, 2007 Clarksville had 1614 single family homes on the market, compared to 1803 as of September 1, 2008. September of 2007 homes were selling for 98.71% of list price with an average of 63 days on the market, compared to September 2008 with homes selling for 97.71% of list price and an average of 93 days on the market. One more fact, the average home in September of 2007 closed at $149,060.00 and in September of 2008 the average closed price was $$155,665.00 (source MTMLS). I realize I have inundated you with figures, but the comparison clearly shows the Clarksville Tennessee Real Estate market is very healthy. I encourage you to visit www.fortcampbellhomes to learn more about the Clarksville/Fort Campbell area or to view all the homes currently on the market.
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Every city thinks their real estate market is different and in times like the one we are going through that could be true. The national press would have us to believe the sky is falling, houses are free, and all homes are being foreclosed on today. Not true, at least not in Clarksville, TN. June 1, 2008 Clarksville had 1650 homes on the market with 505 new listings coming on in May and 589 homes closing in that month. It's a healthy market anytime that happens, and homes are selling for 98% of the list price. All this is great news, but maybe the best is the 100 average days on the market.
All Real Estate markets are not the same. Clarksville has a solid housing market as does many other cities. The national media needs to STOP!!!! We all know "bad news sells", but I believe they have done an injustice to their viewers with the "Chicken Little" news cast.
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Exciting times in Clarksville "Tennessee's Top Spot". As the weather warms and flowers bloom the beauty of our area solidifies the new slogan as Tennessee's Top Spot. Recently Clarksville was named by the United States Census Bureau as the 10th fastest growing Metropolitan area in the U.S.A. Two months ago an article in Kiplinger's Letter predicted Clarksville homes will appreciate at a higher percentage thru 2009 than any city in the U.S. Our economy is strong and activity in the housing market is very brisk. As of April 1st Clarksville had 1611 single family homes for sale. This number includes March figures of 421 new listings and 472 homes that either sold or closed in March. The average time on the market is 100 days. In my option this is a very healthy market and I say that because more homes are selling in a given month than are being listed. Clarksville is not a average city in a lot of ways, we've all heard how bad the real estate market is in some areas, but Clarksville is a strong exception.
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I just read an article that said the average time in the U.S. to sell a home is 10.3 months. The article went on to say FSBO's take even longer. Clarksville Tennessee real estate is an exception to these figures with the average time on the market (MLS) being 92 days. The national press would have us believe our country is in such bad shape and I'm sure some areas are depressed. I've heard of areas with homes prices dropping, foreclosure rates at all time highs and mortgage scams, and with all the negative press some believe this is the case everywhere. It's just not the case in Clarksville!!!!!!!
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February was a typical winter real estate month in Clarksville Tennessee. A total of 443 homes were either pended or closed and 439 new homes came available. At the end of February 1555 homes were actively for sale, which reflects 150 fewer homes than were on the market six months ago. I have heard agents say this is a buyers market, but with sales holding steady and taking into consideration the winter season coupled with a decrease in available properties, I can not understand how this is anything but a healthy and thriving market. In some sections of the United States homes sales are depressed or at very best stagnant , but Clarksville's housing market is like a Timex watch" it just keeps on ticking." Interest rates continue to be around 6% and with Spring just around the corner the home buying season is warming up. I invite you to view all the homes for sale in Clarksville Tennessee on www.fortcampbellhomes or call 931-245-6733.
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Daylight savings time starts in 34 days and warmer weather is sure to
follow. About the only bright spot for January was the robust home
sales we experienced in Clarksville. 267 homes sold during the month at
98% of list price and an average of 92 days on the market. I understand
other areas of the country are experiencing a down turn, but
Clarksville Real Estate is going strong. Interest rates are dropping
and with only 1558 homes for sale, the outlook for 2008 is very bright.
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* Question: Please talk about some of the specific development projects you are involved in. Vaughn: I'm a partner in Stonebrook Subdivision just off Dunbar Cave Road, and Prestwicke Subdivision on Drake Road. Both of the developments are upscale communities with all the amenities. In early spring we will be opening a new development, Hickory Wild, located on Dunlop Road not too far from the new hospital.
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* Question: Please talk about the company you are affiliated with, including what sets it apart from other Realtors, in your view. Vaughn: The Vaughn Team.com is a little different from most companies. By design, we will remain a small boutique company and concentrate on customer service. We have agents that just work with buyers and agents that work with sellers. I know from experience it's hard for one person to be all things to all people, so we believe if you specialize in one aspect of Real Estate and receive regular training you will be able to provide your client superior professional service. To give you an overview of our setup, we have a team leader, office manager, transaction coordinator and client care coordinator. The client care coordinator job follows up with all leads that come into the team, keeps in contact with the prospect and at the appropriate time, introduces them to one of our agents. Our team leader runs the show from training to holding the agents accountable to do the daily task to be successful. Our transaction coordinator handles a listing or buyer contract from inception to closing. Her goal is to keep everyone we work with informed on the progress of their transaction. And of course the office manager watches every penny and makes sure the agents get their commission check quickly. We have seven buyer agents and two listing agents and as you can see, we try to free their time so they can concentrate on what they do best. The last five years, The Vaughn Team was in the top five teams with Keller Williams International and we were named by The Wall Street Journal as one of the 50 top teams in North America. I am extremely proud of The Vaughn Team and the people who work so hard to be the best we can be.
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* Question: By many accounts, the past year has been challenging for the local and national real estate market. Please explain why, or why not. Vaughn: The national media has tried to convince us of how bad the real estate market is, with all the foreclosures and trouble in the subprime mortgage business, but 2007 will be remembered as one of the best real estate years in Clarksville's history with over 4,000 homes sold. Fort Campbell is a very important part of our community and we miss them any time they deploy, but unlike the first Gulf War with the uncertainty over the length of deployment, today families tend to stay in Clarksville knowing when their loved one will be home at a given time. Industry plays a major role in the vitality of our town and I believe we have a robust, mixture of industry, and I'm pleased to see our local political leaders being aggressive in the pursuit of new industry. With a great relationship with Fort Campbell, a good industrial base, aggressive industrial recruiting, coupled with contained low interest rates and positive recognition nationally such as the recent report by Kiplinger Magazine (January 2008), things are good. The Kiplinger article quotes a survey by Fiserv Lending Solutions that states they expect Clarksville, Tennessee, to lead the way through 2009 with a projected 6.4 percent increase in home prices. Many cities all over the U.S. are projected to lose as much as 15 percent a year. The article should be very encouraging to those that own or plan to buy a home in the near future. Any time Clarksville can be mentioned nationally in such a positive manner is good news for everyone. It's obvious I'm extremely positive on Clarksville and what the future holds for our community.
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2007 is now history and January is time to prepare for what is sure to be an exciting 2008., but first let me say Clarksville's Real Estate market closed the year strong with over 4,000 homes being sold. 2007 will go down in history as one of the the better years for home sales in our area.
We start the new year off with about 1500 homes on the market. Sales have been brisk and with low interest rates our market contuies to roll. A recent article in Kiplinger.com quoted a recearch company ( Fiserv Lending Solutions) as projecting Clarksville to have the highest rate of appreciation on homes of any city in the United States thru 2009. Clarksville homes have always had a steady increase in value and the outlook remains strong.Please Call The Vaughn Team Real Estate at 931-245-6733 or on the web at www.thevaughnteam.com
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