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That's a wrap on 2023! For better or worse, all the predictions of boom, doom, & gloom that started the year seem to have been overshadowed by strong unemployment, increased consumer spending, and the magnificent seven propelling returns of 40+ & 24+ percent for the Nasdaq and S&P, respectively. Real Estate took an anticipated hit with JPow's rate hikes, diminishing buyer power and "forcing" what would-be sellers to stay in their homes for fear of giving up their incredibly low interest rates. Even so, we saw resiliency in hyper local markets throughout the United States, including many areas right here in Middle Tennessee. Twenty-nine homes trade with a price greater than $50million across the US last year, with the heaviest concentrations in NY, FL, CA and CO. Nashville's (TN) trying to compete for 2024 with an elegant, sprawling, legacy estate listed at $40 million going under contract just yesterday! We spoke a few months ago about how deals happen in every market environment as life unfolds - marriage, divorce, upsize, downsize, a raise or job transfer, loss of employment, and the inevitable we all shall face. Deals behind these events were the lifeblood of the 2023 real estate market. While the number of transactions for the year declined, the low inventory environment, Nashville's growth trajectory and low unemployment helped keep pricing somewhat stabilized. Headwinds persist for 2024. Wars in Israel and Russia, Houthi attacks in the Red Sea and dwindling water levels in the Panama Canal potentially disrupting logistics and global trade, potential for runaway inflation among some global participants, a contentious presidential election, and potential for prolonged tighter credit markets and higher borrowing costs may impact the entire system down to you and me. Let's not go down the rabbit hole of AI! It's easy to get lost, overwhelmed and freeze. Clear, stronger heads shall prevail. If WHERE you're living is not a reflection of HOW you want to be living, let's talk things through. I am in the lifestyle business and my goal is to help you cultivate yours to match your expression, interests, and sensibilities. Matt and I had a busy December including family time in Denver early in the month, Christmas in St. Louis and a dear friend coming to Nash for New Years. Did you catch the "note"🎵 drop and all the performances here? Nashville seems to continue to shine bright nationally! I'm here for it and think you should be too! Wishing you all a prosperous year with memorable experiences 🖤 |
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| | | Chinese Festival of Lights |
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| | | The Antiques and Garden Show of Nashville |
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| | | Tennessee Performing Arts Center |
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| | Pirrates of the Caribbean Dead Man’s Chest with the Nashville Symphony |
| Schermerhorn Symphony Center |
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| | | Frankie Valli & The Four Seasons |
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| | Elvis Costello & the Imposters |
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| | 6 BD 7 BA 7422 SF $4,399,000 |
| A modern masterpiece with abundant natural light peacefully situated on a acre lot on a quiet street, but only minutes to the heart of Green Hills, 12 South, Radnor Lake, and numerous amenities. Daily living and effortless entertaining in the open, airy flow of the main floor with huge windows overlooking the private pool and deep woods behind the home; a nearby service bar and formal dining with wine storage elevates your hosting. The primary suite is an oasis tucked away but close to a large home office with extensive trim detailing. There is a 2nd bed on the main floor, as well as a prep kitchen, and pool bath. Multiple bedrooms suites and bonus room spaces upstairs offers flexible usage. Outside features a covered porch with fireplace, a pool with hardscape, and verdant landscaping. |
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| | 4 BD 4 BA 5325 SF $2,900,000 |
| 1.5 acre nature retreat nestled within the treetops of gated Otterwood, this renovated, extraordinary 4 bed, 3.5 bath masterpiece blends modern luxury w/ timeless elegance. The kitchen is a culinary delight, featuring a La Cornue stove, pot filler & hidden pantry. The sunken living room boasts a wood-burning fireplace w/ gas availability, perfect for gatherings. Upstairs, a serene library adds to the appeal. The house exudes sophistication offering privacy and multiple outdoor entertaining spaces.The master suite offers luxury w/ upgraded Brizo fixtures, & the expansive attic provides ample storage.The soundproof recording studio can also be used as a wine cellar. The downstairs bathroom is a spa-like oasis w/ Wi-Fi controlled steam shower & floor-to-ceiling tiles. Entrance cameras & Wi-Fi ready smoke detectors ensure security. Home features a 3-car garage, kids playhouse & scenic country club views, serene woods & majestic sunsets. |
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| | 4 BD 4 BA 3004 SF $1,099,000 |
| This beautiful historic storybook Tudor was lovingly, thoughtfully and painstakingly renovated. Designs by Morgan Martin interiors. Notable features include site finished white oak flooring throughout, custom solid wood cabinetry and millwork, pro appliances, luxury stone tops, designer light fixtures, Brizo plumbing, Ann sacks and Cle tile, energy features such as foam insulation, tankless water heater, Pella windows, too many details to list. Large level back yard with room for a multi car garage, dadu, pool or studio. |
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| | 4 BD 4 BA 3032 SF $999,999 |
| Step Into Your Dream Home: A Captivating 1920s Stone Craftsman Cottage In The Heart Of Green Hills! This 3,032-SF Marvel Blends Vintage Elegance With Modern Comfort, Offering 4 Bedrooms, 3.5 Bathrooms, And An Unfinished Walkout Basement—This Home Is A Canvas For Your Personal Touch. The Main Level Features A Luxurious Primary Suite, A Charming Office/Sunroom, A Formal Dining Room And A Spacious Kitchen Leading To A Grand Den With Dual Fireplaces For Enchanting Evenings. Upstairs, Discover Two Spacious Suites, A Flexible Fourth Bedroom, And An Ingeniously Designed Work/Hobby Area. Your Outdoor Sanctuary Awaits: A Sprawling Corner Lot Surrounded By Mature Trees, A Serene Garden-Like Yard, Ample Driveway, Additional Parking Pad, And A 2-Car Garage. Just Minutes From The Interstate, Downtown, The Airport, Vanderbilt, And Is In The Heart of Green Hills. This Home Offers Ample Opportunity For You To Make It Uniquely Yours. Don't Miss This Exquisite Lifestyle Opportunity! |
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| | 6 BD 7 BA 8006 SF $4,899,000 |
| This Mediterranean-style home with clay tile roof and solid mahogany door is reminiscent of the historic cottages of Sea Island. Built by acclaimed builder, Vintage South, and located in the coveted and prestigious City of Belle Meade, it is just minutes from the historic steps of Percy Warner Park and some of the most sought after private schools in Nashville like Harpeth Hall, MBA, & Ensworth. The expansive main level features the primary suite, a guest suite, formal dining, and an open concept living space. The kitchen includes custom inset cabinetry, paneled appliances, Wolf gas range, a scullery with fridge and dishwasher, and oversized dual islands providing ample counter space for casual dining and entertaining. The second level features 3 bedroom suites plus bonus room, and the walkout basement is the perfect teen or in-law suite, designed with a future pool or elevator in mind. This home features two levels of outdoor living with a deep lot extending beyond a storybook creek. |
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* By a 6-to-1 vote, the Salt Lake city council ended single-family zoning. In Austin, the vote was 9-to-2. The goal of ending single-family zoning is shared by affordable-housing activists nationwide, but its actual consequences hinge on how exactly it is done — and what exactly replaces it. Yet the rules governing the size of structures have not been changed. And if builders want to use the new multi-unit option, they have to designate half the units as “affordable” — i.e., offered at a discounted rent. Under these terms, people with experience in the housing industry estimate few if any projects would actually pencil out as profitable. (Bloomberg) * While Austin, Texas has seen some notable shifts in its housing market, lets not forget that home values have soared 354% in the city over the past 25 years. A Henley and Partners 2023 wealth report named Austin the fastest-growing U.S. city for millionaires.....a millionaire growth rate of 102% from 2012 to 2022! (CNBC) * An analysis of US census data shows that less than 10% of Americans aged 85-plus - roughly 6.7 million Americans - live in nursing homes. In 2020, about 1 in 6 people in the US were age 65 and over. In 1920, this was less than 1 in 20! Almost 56 million Americans are 65 years or older, up over 40% in a decade! It’s becoming more common for people to remain employed into their 70s and 80s. (Washington Post/Barron's) * Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require many companies (LLCs, S-corps, C-corps, and LLPs) doing business in the US to report information to the U.S. government about who ultimately owns and controls them. The Beneficial Ownership Information (BOI) reports are filed with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). Over 30 million BOI will be filed in 2024 and over 5 million annually thereafter. * Since a peak in early 2022, used-car values have fallen more than 20%. (Bloomberg) * Harvard College received 17% fewer applications for early admission this year. (Bloomberg) * The Canadian government is moving forward with a catalog of pre-approved home designs to reduce the cost and time it takes to build housing. The idea dates back to the 1940s when thousands of soldiers returned from the Second World War and needed a place to live. The government is seeking designs that add density, such as multiplexes, mid-rises, seniors’ homes, student housing, garden suites and lane-way homes. A catalog will feature multiple designs in each category to give communities flexibility aimed at developers, from large-scale builders to nonprofits, to cut red tape and costs.Home prices and rents have soared in part because housing starts have not kept pace with record immigration, and Canadian Mortgage and Housing Corporation estimates that 3.5 million more units will be needed by 2030 to restore affordability. (BLOOMBERG) * International shipping companies continue to reroute their vessels around the Cape of Good Hope, adding significant cost and weeks of delay to the delivery of goods, and ultimately jeopardizing the movement of critical food, fuel, and humanitarian assistance throughout the world. * The differential between 30-year mortgage rates and benchmark Treasury yields has been shrinking for eight straight weeks, giving mortgage rates an extra push lower (WSJ) |
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If you're in the market or know someone who would benefit from an informal conversation with me, please click here and we'll schedule some time together. I have established relationships nationwide, likely in in your local markets, with agent colleagues of mine. Utilize the trust I've established with these high performing men & women to foster smooth dealings on your next transaction. See the map below for our broad reaching locations. Thank you! |
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| | | shane.mccarty@compass.com |
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Office: 615-475-5616 Compass RE is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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