Nashville Homes Are Underpriced by 7%: Buy Now to Score the Deal of the Year
If You Act Now, You Can Save Big on Buying a Nashville Home
As west coast home costs continue to rise, buyers are starting to get creative about where they invest in properties. Finding a US city that boasts culture, culinary prowess, and entrepreneurial spirit is easy. Finding a US city with affordable homes in central, trendy neighborhoods, however, is becoming a bit of a rarity.
Fortunately, if you’re buying a home in Nashville – a musical and culinary mecca – you don’t have to choose between cost value and urban amenities. Read on to learn why now is the best time to buy a Nashville property, and what that could mean for you and your family down the road.
Nashville Homes Are Selling Below Market Value, and It’s a Good Thing
According to Mashvisor, Nashville homes are under-priced by 7%, a staggering amount for buyers and investors hoping to tap into competitive real estate markets. While that might inspire fears of a failing market, a new report form Arch Mortgage Insurance company claims that “Nashville is one of America’s 10 hottest housing markets, when looking at the country’s 100 biggest metros.”
So what does this mean? For investors, it’s a great time to swoop in and buy rental properties. According to developer Bruce McNeilage, “Every one of the [major investment companies] has identified Nashville, and they are going into Nashville… there is an unlimited demand and the demand simply can’t get met.” Buying now, when home prices are low, represents a serious opportunity to maximize ROI.
But what about timing for the average homeowner? For them, now represents a rare opportunity to move into a trendy Nashville neighborhood without breaking the bank. Interested in joining a community of young families and creative types in Nashville’s fast-growing East End neighborhood? Scoop up a three-bedroom home like this one for less than $290K.
Searching for a neighborhood that balances access to nature without compromising proximity to the city center? Act quickly to take advantage of lowered home prices in Sylvan Park – this storybook cottage just shaved $15,000 off its price tag.
Now Is the Time to Buy in Nashville’s Home Market
Does all of this sound too good to be true? Well, there is a catch: you likely have to buy now in order to score the real estate deal of the year. According to Scott Troxel, the Greater Nashville Reators President, he “expect[s] to see a typical lull in the fall and holidays, followed by renewed energy in January.”
We’ve seen how hot Nashville’s home market can be: earlier this summer, Von Richcreek, a prominent Nashville real estate broker, listed a Nashville home on the market, and received 25 offers in three days. So before prices climb back to market value, swoop in and make an exciting investment on your new Nashville home.