Moving to Nashville...looking for suggestions (Germantown, Green Hill: short sales, real estate, foreclosures)

[slf33]

[SIZE=2][SIZE=2]Single, 30 y/o looking to move to Nashville the first part of '11. Planning on coming out to view the real estate, but wondering if there are any suggestions on where to look for places to buy. Torn between condo/townhouse or house, but probably leaning more towards first.... want to be close or in downtown, but safe place... range of $150-$225k. Any/all suggestions welcome! Thanks!
[/SIZE][/SIZE]

[aaronmidnight]

In your price range, I would definitely suggest a condo. To my knowledge, you cannot find a house "close in or downtown" for less than 250K unless it is in tear-down condition or in an unsafe neighborhood. (Of course, that depends what you mean by "close-in".)

In terms of condos, I'd suggest that 12 South, Germantown or East Nashville might all be good places to buy if you're looking to see some appreciation. If you're not so worried about that, you could also look in Bellevue, Hillsboro, West End, Gulch, etc.

Good luck!

[derricktfox]

I agree that 12th south, Germantown, or East Nashville are good suggestions, but I disagree with the idea that there aren't any great houses close to downtown that are under 225k. There is PLENTY of inventory in the downtown area in this price range- both houses and condos/townhomes. Home prices in Nashville are set to appreciate in a way that I would not be afraid of buying in most downtown neighborhoods. Of course many areas will appreciate quicker than others, but overall there are many good buys in Nashville right now, especially if you are willing to look at foreclosures and short sales. There are many foreclosures and traditional condo listings in some of the areas that Aaron pointed out, such as West End and The Gulch, but also in Green Hills, Sylvan Park, and even downtown itself (SoBro, Midtown).

If you like downtown living and are planning on staying in the home for several years, a high rise condo may be a great option. You'll probably be at the higher end of your price range, but the location and amenities are awesome! Icon would be the best investment right now in my opinion. They still have significant inventory available, so you may be able to score a great deal. There is also going to be a lot of attention given to the Gulch once the economy turns around, and this building is the best in the area right now. I would buy a unit there myself if I could! There are probably at least 10 units available in that building in your price range. There are also a few other buildings that I would consider.

There are also dozens of small 4-20 unit town home developments in downtown core. Many of them are in the 200k range. Google the names of these neighborhoods along with the keywords "condo, loft, or townhome" and you'll probably yield plenty of results.

Nashville has a great downtown vibe for young adults. You'll love it here!

[aaronmidnight]

I think Derrick and I are actually in agreement. There are lots of good options close to downtown if you want to live in a condo, loft or townhome.

If you want to live in a single family detached house for less than 250,000 I think you will have real problems finding something decent close to downtown and would therefore suggest looking more in East Nashville, Bellevue, etc. Personally I like Bellevue better, but East Nashville is closer to downtown. If you do move to East Nashville (or other close-in areas such as Crieve Hall, Donelson, Woodbine, Germantown) make sure you talk so some real estate agents or current residents who can tell you which areas/streets are safest.

[slf33]

Thanks for all the advice!!