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Bob Lamb opens Exit Realty

Local real estate veteran Bob Lamb recently opened an independently owned and operated franchise of Canada-based Exit Realty in the Ralston building at 1202 SE Broad St., on the corner of Middle Tennessee Boulevard and Southeast Broad Street, representing the second location in Rutherford County for the Canada-based company.

“After 34 years in the business, purchasing a franchise for Exit Realty was a unique opportunity that was available,” Lamb said.

Previously, Lamb worked for Bob Parks Realty for 23 years and was managing broker of the company’s South Rutherford Boulevard office. Lamb also serves as chairman of the Murfreesboro Planning Commission.

Some 28 agents from the Bob Parks office joined Lamb in the new venture giving Lamb an “excellent start,” Lamb said.

Read the full story in  The Murfreesboro  Post.

Tennessee Is Good for Business!

FORBES magazine has recently released their annual rankings the best U.S. states for doing business ...and Tennessee is moving up!

Tennessee now ranks 13th in the country, a significant improvement from our ranking at number 20 in 2006! [Virginia ranked number 1 this year and last year, and Utah came in second in 2007.]

State rankings were based on six factors: business costs, labor, regulatory environment, economic climate, growth prospects, and quality of life. In the business costs category, Tennessee ranked third in the nation!

The complete Forbes article is here.

Mortgage Rates Rise After Three Weeks of Decline

Freddie Mac reported an increase in the 30-year fixed mortgage rate to 6.73 percent on Friday from 6.63 percent a week earlier, with chief economist Frank Nothaft expecting the benchmark to remain at or near this level for the remainder of the year. The 15-year mortgage rate edged up to 6.39 percent from 6.3 percent over the same time span, and the five-year adjustable mortgage rate climbed to 6.35 percent from 6.29 percent. Meanwhile, interest on one-year ARMs held steady at 5.71 percent. Nothaft attributes the jump in borrowing costs to a positive June jobs report and a jump in consumer credit in May.

      SOURCES: Freddie Mac; Wall Street Journal

Where are the Best Places to Live?

Money Magazine just announced their Top 100 Best Places
to Live 2007 and 1st place goes to Middleton, WI.
Middleton boasts small-town charm; booming economy; extensive parks and bike trails.  But then again, do you like winter?
Money's other lists are also fun and enlightening. 

And for a Paltry $135 Million...

But if you have to ask...

See what it's all about here at the NYT.

Maury County Market Statistics

The market in Maury County continues to climb contrary to national media reports that suggest real estate is down everywhere. Comparing the first 5 months of 2007 v 2006, the  Middle Tennessee Regional Multiple Listing Service shows the following for Maury County: 

• Transactions are down 1%.  There were 1% less Residential sales for 634 (2007) compared to 642 (2006).
• Prices are up 8%.  The average sales price is up from $153,288 to $165,789.
• The average price per square foot has climbed 6% to $92.
• Absorption rates (how long it would take to sell our existing inventory) suggest an extremely healthy market under $250,000 which currently accounts for 85% of all home sales.

While many parts of the country are seeing a buyer’s market, Maury County is reaping the benefits of a  steady economic climate in Middle Tennessee.

Sumner County Market Statistics

The market in Sumner County continues to defy national trends contrary to most local and national media reports that suggest real estate is down everywhere.  Comparing the first 5 months of 2007 v 2006, the  Middle Tennessee Regional Multiple Listing Service shows the following for Sumner County:

• Transactions are down 12%. There were 12% less Residential sales, 1184 (2007) compared to 1349 (2006).
• Prices are up 5%. The average sales price is up from $$202,511 to $213,024.
• The average price per square foot has climbed 7% to $103.
• Absorption rates (how long it would take to sell our existing inventory) suggest an extremely healthy market under $300,000 which currently accounts for 83% of all home sales.

While many parts of the country are seeing a buyer’s market, Sumner County is reaping the benefits of a steady economic climate in Middle Tennessee.

Bedford County Market Statistics

Bedford County's market continues to climb contrary to national media reports that suggest real estate is down everywhere. Comparing the first 5 months of 2007 v 2006, the  Middle Tennessee Regional Multiple Listing Service shows the following for Bedford County: 

• Transactions are down 6%.  There were 6% less Residential sales, 296 (2007) compared to 313 (2006). 
• Prices are up 2%.  The average sales price is up from $114,919 to $116,714.
• The average price per square foot has remained constant at $72.
• Absorption rates (how long it would take to sell our existing inventory) are still suggesting an extremely healthy market under $150,000 which is 76% of all home sales.

While many parts of the country are seeing a buyer's market, Bedford County is reaping the benefits of the  steady economic climate in Middle Tennessee.

Davidson County Market Statistics

Davidson County’s market continues to climb contrary to national media reports that suggest real estate is down everywhere. Comparing the first 5 months of 2007 v 2006, the  Middle Tennessee Regional Multiple Listing Service shows the following for Davidson County. 

• Transactions are down 8%.  There were 8% less Residential sales, 3859 (2007) compared to 4149 (2006). 
• Sales Price is up 7%.   The average sales price is up from $204,779 to $219876.
• The average price per square foot has climbed 8% to $118.
• Absorption rates (how long it would take to sell our existing inventory) suggest an extremely healthy market under $400,000 which currently accounts for 91% of all home sales.

While many parts of the country are still seeing a buyer’s market, Davidson County is reaping the benefits of a steady economic climate in Middle Tennessee.