Brian Copeland is a real estate broker licensed with the Tennessee Department of Commerce and Insurance license #298334 with Village Real Estate Services (615) 369-3278. Visit Brian’s

blog and website at www.nashvilleandbeyond.com.

East Nashville’s Inaugural37206 Real Estate Report

Download the entire report for free at

www.37206.info

The most in-depth, neighborhood-by-neighborhood real estate report ever com-pleted in East Nashville for East Nashville by an East Nashvillian. This is not a report generated by a national company with inaccurate statistics and neighbor-hoods. The entire report was hand completed and analyzed by Brian Copeland at Village Real Estate.

Discover prices per square foot by specific neighborhood, the lofty neighborhood victories and failures. You will not be asked for your information when you visit. We respect your privacy and right to information!

Considering a move to another part of Nashville? More zip code reports are avail-able at the link above!

Home values per neighbor-hood and price per square foot.

Neighbor-hood borders and home ages and styles.

Community amenities and neighborhood features for value.

2009 East Nashville Reports37206 Neighborhoods

2009 East Nashville Reports | 37206 Neighborhoods

© 2010 Brian Copeland

Living in Eastwood Neighbors, Lockeland Springs and Cleveland Park, I’ve always been obsessed with learning everything I can about the amazing East Nashville neighborhoods. Watching the values evolve and introducing homebuyers to this unexpectedly diverse area is one of the best parts of my job.

This year, I decided to dedicate a ton of time to sharing transparent, thorough 37206 information in a clear, aesthetic medium. Inside, you will find list to sale price ratios, neighborhood maps, price per square foot for each neighborhood, price point for each area, trends, highpoints and lowpoints.

It’s my goal to know more about East Nashville than any other real estate agent in this marketplace. In return for this yearly information, I hope you will consider my services for your home sale. My researcher’s mentality gives me first and foremost the ability to price your home in its best sweet selling spot. I have a Master’s of Science degree from the University of Tennessee with a rich statistical background. My market-ing plan includes, but isn’t limited to

y Professional photography

y Real, live motion video

y Neighborhood video tours

y Unparalleled syndication (domestic and international)

y Full analytical analysis

y Phone and email marketing

y Strong relationship marketing

y Huge national referral sphere

My success has opened up the national stage to speak at numerous state and national REALTOR con-ferences, even to my competitors. Additionally, I’m a consistent expert for Home & Garden Television (HGTV) appearing on over ten television shows. I’d be honored to open my stage to represent your home. Whether this year, next year or ten years from now, I’ll be here to help.

Brian is a licensed broker #298334 with Village Real Estate Services. If your home is listed with another agent, I hope you will continue your relationship with that agent and use this information to help you both reach a success-ful closing.

| 1

1 Neighborhoods in the 37206 Zip Code and Scope of Study

The 14 Subject NeighborhoodsAs one of the top three MLS sales area in the Nash-villle market, Area 6 continues to attract new buyers and evolve as one of Nashville’s most desireable neighborhoods. While every resident has a special name for their area, for this report’s purpose, we will examine 14 neighborhoods. Note that further

niche areas like Little Hollywood, Eastland Acres and McEwen Place have been included into their neighboring larger communities. While numerous neighbohood associations exist with differing name opinions, a small panel of East Nashville experts have aided in identifying borders and names as ac-curately as possible. Realize that numbers may skew along certain streets.

2 | East Nashville Reports | 37206 Neighborhoods

The Power ThreeGeography, density and housing stock give Rose-bank, Lockeland Springs and Eastwood Neighbors the edge as the largest market areas in 2009 in the 37206 zip code for single family residential homes.

Lockeland SpringsLockeland Springs’ sidewalks, historically-rich home and easy access to Five Points shopping and nightlife, have placed it #1 for sales in 2009. The top dollar sale was at 1800 Russell Street for $420,000. It wasn’t an easy road for this home to see closure. It was first listed in July 2006 for $492,900, pulled from the market and relisted nu-merous times for as high as $509,850. The final list price $439,900.

1305 Forrest Avenue is the crown jewel of 2009 for values in the neighborhood. It brought the highest price of $212.14 per square foot, closing at $325,000 after an original list price of $359,615. The home was represented by Brian Copeland of Village Real Estate.

Russell and Woodland commanded the highest price points while Forrest and Holly brought the highest square footage prices.

Overall, Lockeland Springs had 69 homes success-fully see closing with an average square footage price of $126. The median price was $227,500. The average price was $232,409.

2 37206 Neighborhood Market Shares

RosebankIt’s ranch heaven on the east side, and it’s affordabil-ity factor attracts buyers of all types. 1508 Rose-bank Avenue was on mark to be a 2009 record setter listed originally for $499,000. Amazingly, it also brought the highest price per square foot at $166. (Again, represented by Village Real Estate.)

Homes on Rosebank Avenue on a whole received the highest price point. The newer construction, re-sale homes on Beth Drive saw the highest price per square foot. Sixty-one homes intersected with the closing table. The average price was $146,168 with the median hovering closeby at $146,000.

BRIAN COPELAND | VILLAGE REAL ESTATE | 3

Eastwood NeighborsLockeland Springs has always had stiff competition in Eastwood Neighbors thanks to the similar archi-tectural styles and the proximity to restaurants and shops. 1610 Franklin Avenue brought $380,000 and bragging rights as 2009’s big close. While it closed a far cry from its $419,000 original list price, the 2009 economy wouldn’t cooperate with the goal price. No surprise, Village Real Estate represented this home, also.

206 Chapel Avenue brought the highest price per square foot coming in at $197 per square foot. Chapel Avenue as a whole proved to be the money street. While it wasn’t the highest overall, Chapel saw the most homes in the top tier of sales. Average price was $200,007 with the median at $181,900.

All The RestOf course, not all of the action happened in these three areas. Noteworthy market spaces occurred in all the neighborhoods. Historic East End’s top sale was at 1202 Woodland Street at $398,000, a far cry from its $545,000 original list. The home fell into distress and ended up short saling in multiple offers at still an amazing deal.

906 Fatherland earmarked Historic Edgefield’s top value $385,500. Shelby Village’s $234,900 513 South 12th Street won top price there. Eastland Park received a huge spike with the sale of 1409 North 14th Street at $212,000. One other high-point was seeing a home in Neil S. Brown bring a record breaking $164 per square foot in multiple offers at 116 North 9th Street.

The Lofty FailuresEvery homeseller dreams of setting the record for a 37206 sale. To date, still the top dollar ever brought in 37206 in the public MLS is $555,000 in April 2008. In fact, only five homes have ever sold for over $500,000.

In 2009, several homes tried to take the top spot, but simply couldn’t make it. Twenty-three homes tried the $500K+ spot. The most lofty attempts were seen at 122 South 12th Street for $1.5M, 814 Russell Street for $1.025M, 807 Fatherland Street for $926,500, 500 North 17th Street for $899,900 and 809 Russell Street for $849,900.

Analysis shows that buyers craving historic homes at this price point simply aren’t ready for East Nash-

4 | East Nashville Reports | 37206 Neighborhoods

ville. In 2009, forty-five Davidson County homes built prior to 1930 saw closings above $500,000. Of those 45, forty-three were on the west side in Belle Meade, Historic Richland, Belmont and Green Hills. The remaining homes were in Madison and Whites Creek.

The Fallacy of NumbersAs you look at the charts included in this report, certain markets appear low valued. Note RenRaw. Only 17 homes were in the sampling and most of those appear to be purchased by investors and reno-vators for extremely low prices. Expect 2010 to see higher prices in RenRaw as those homes re-enter the marketplace.

Tiny Neil S. Brown neighborhood only had five homes in the sales scope. You’ll notice the clos-

ing price exceeds the asking price in the neighborhood due to one home selling in multiple offers above price and another which added $5,500 for closing costs.

Eastland Park and Rolling Acres, too, had extremely small sample areas. Be certain to see the pie graph early in this report for the reality check of closures percentage-wise.

Short sales and foreclosures can also skew numbers in a neighborhood. The 2009 MLS numbers only show less than 25 distressed sales in 37206; so, 37206 may not be extremely inaccurate.

3 37206 Reality Checks and Warning Signs

BRIAN COPELAND | VILLAGE REAL ESTATE | 5

4 37206 Bright Spots and Trends To Watch

Intriguing SpotsBoscobel Heights could be the neighborhood to watch in the coming years. Compared to its virtu-ally identical sibling, Shelby Village, it’s posting much stronger numbers. New construction, green homes built on Long Avenue certainly gave fuel to the numbers, however historic homes held their spot in strong values.

As a whole, 37206 sellers are getting applaudable list to sales price ratios. Rolling Acres had the low-est ratio at 92.7%, which comparably to a national market still shows amazing health. Neil S. Brown’s ratios were the highest at 101.6%, but are skewed statistically. Boscobel Heights, again, is the bright spot with its 98% ratio. Overall, 37206’s sales ratio was 96.1%

Trends for 37206Homes receiving top dollar had several aspects in common. A garage of any size definitely added value and saw strong prices. Fenced backyards seem to be a must for buyers. Both new construction homes and well-kept or well-renovated historic homes commanded top dollar.

Affordability continues to be a driving force to at-tract buyers who can’t afford west Nashville’s price tags and are repelled by the suburbia feel of south Nashville Area 1. Three bedroom, two bath homes below $250,000 tend to be very popular.

As renters decide to enter the home market, many find 37206 the perfect alterative for their in-town lifestyles. A large exodus of economy-fearing professionals are opting to sell pricier homes on

the westside and find simi-lar homes and convenience on the eastside. Victorians, bungalows, Tudors and four-squares consistently are on the top-requested list.

Homeowners with divideable double lots may find surpris-ingly good return for sacrific-ing the large lot for a new home next door. A great lot in Lockeland Springs, Edge-field or Eastwood Neighbors could see $70,000 to $85,000.

Brian Copeland, Village Real Estate, 615 Woodland Street, Nashville, TN 37206 ¤ 615 369•3278, mobile 615 554•6177 ¤ nashvilleandbeyond.com

Home values per neighbor-hood and price per square foot.

Neighbor-hood borders and home ages and styles.

Community amenities and neighborhood features for value.

2009 Nashville Reports37204 Neighborhoods

2009 Nashville Reports | 37204 Neighborhoods

© 2010 Brian Copeland

I’ve always been obsessed with learning everything I can about the amazing Nashville neighborhoods. Watching the values evolve and introducing homebuyers to this area is one of the best parts of my job.

This year, I decided to dedicate a ton of time to sharing transparent, thorough neighborhood-by-zip-code information in a clear, aesthetic medium. Inside, you will find list to sale price ratios, neighborhood maps, price per square foot for each neighborhood, price point for each area, trends, highpoints and lowpoints.

It’s my goal to know more about Nashville than any other real estate agent in this marketplace. In re-turn for this yearly information, I hope you will consider my services for your home sale. My researcher’s mentality gives me first and foremost the ability to price your home in its best sweet selling spot. I have a Master’s of Science degree from the University of Tennessee with a rich statistical background. My market-ing plan includes, but isn’t limited to

y Professional photography

y Real, live motion video

y Neighborhood video tours

y Unparalleled syndication (domestic and international)

y Full analytical analysis

y Phone and email marketing

y Strong relationship marketing

y Huge national referral sphere

My success has opened up the national stage to speak at numerous state and national REALTOR con-ferences, even to my competitors. Additionally, I’m a consistent expert for Home & Garden Television (HGTV) appearing on over ten television shows. I’d be honored to open my stage to represent your home. Whether this year, next year or ten years from now, I’ll be here to help.

Brian is a licensed broker #298334 with Village Real Estate Services. If your home is listed with another agent, I hope you will continue your relationship with that agent and use this information to help you both reach a success-ful closing.

| 1

1 Neighborhoods in the 37204 Zip Code and Scope of Study

The 9 Subject Neighborhoods As one of the top two MLS sales areas in the Nashvillle market, Area 2 continues to attract new buyers and evolve as one of Nashville’s most desireable neighborhoods. The 37204 zip code in Nashville, Tennessee encompasses the areas known as 12South, Belmont, Waverly, Breeze Hill, Melrose, Berry Hill, Green Hills, Lipscomb, Rains Waycross, Fairgrounds, Southmeade, Sunnyside and Marengo Park.

If you’re a Green Hills resident in 37215, this area is one of the most confusing areas and with many neighborhoods misnamed. Many Marengo Park and Lipscomb residents refer to their area as Green Hills, however the 37215 residents on the other side of Granny White Pike always seem to debate the point. Another often misnamed area is Southmeade. Many refer to the area as Oak Hill, its southern bordering neighborhood. 12South is honestly one of the most confusing places because of the multiple neighborhood associations in that area, including Sunnyside.

As a whole on the average, 37204 saw 148 single family home closings in 2009. Remember, this is a condo-generous area, and this post is only about single family homes. The average sales price for the entire zip code was $311,402 which is well above the Nashville area median home sale price. The majority of this area lies within Area 2 of the MLS, however one neighborhood and half of another lie in Area 1 on the other side of Interstate 65, the dividing boundary. yFor a easy to read, full scale version of this map, please visit

NashvilleAndBeyond.com and download a copy.

2 | Nashville Reports | 37204 Neighborhoods

The Power ThreeGeography, density and housing stock give Lip-scomb, 12South and Marengo Park the edge as the largest market areas in 2009 in the 37204 zip code for single family residential homes.

Lipscomb/Green HillsLipscomb/Green Hills’ proximity to the shopping and restaurants, Vanderbilt, Belmont and Lipscomb University, have placed it #1 for sales in 2009. The highest dollar sales were at 804 & 809 Lealand Court, which were all both construction homes, closing at $626,000 and $660,000.

4100 Rockdale Avenue is the crown jewel of 2009 for values in the neighborhood. It brought the highest price of $246.28 per square foot, closing at $264,500. Obviously, less square footage homes command premium price per square foot in this neighborhood. Lealand and Outer grabbed the highest price points while streets with names ending in “dale” brought the highest square footage prices (Glendale, Rockdale, et.al.)

Overall, Lipscomb/Green Hills had 48 homes suc-cessfully see closing with an average square footage price of $170.45. The median price was $393,576. The average price was $365,000.

4410 Granny White Pike is the exception to every part of this section as it set all records for 37204 clos-ing at $1.4M or $267.35/sqft.

2 37204 Neighborhood Market Shares

Marengo ParkIt’s brick cottage and ranch heaven on the southwest side, and its sandwiched location between 12South and Lipscomb keeps buyers searching. 900 Noel Green Court was the 2009 star closing at $415,000. 3620 Mayflower Place set the square footage price standard, closing at $250.84.

Homes on Rainbow Place on a whole received the highest price point. Homes on Pleasant Valley Road consistently saw higher square footage prices. Thirty-five homes intersected with the closing table. The average price was $311,402.

BRIAN COPELAND | VILLAGE REAL ESTATE | 3

12SouthIf trendy is the taste, no 37204 neighborhood offers more intriguing spots than 12South. Thirty-eight home sales were registered in 2009. 901 Clayton Avenue brought $562,500 and bragging rights as 2009’s big close.

266 Halcyon Avenue brought the highest price per square foot coming in at $266.88 per square foot. Halcyon and Kirkland as a whole proved to be the money streets. Average price was $351,578 with the median at $342,450.

Intriguing note, the cheapest home in this area was at 2206 11th Avenue South for $110,000 with an original list of $189,900. It re-listed in 2010 as a “tear down” for $150,000.

All The RestOf course, not all of the action happened in these three areas. Noteworthy market spaces occurred in all the neighborhoods. Woodmont-In-Waverly’s top sale was 2223 Lindell at $309,300. Breeze Hill saw a $550,000 closing at 824 Kirkwood. 845 Glen Avenue gained Waverly-Belmont’s bragging spot at $407,000.

Southmeade only saw four closings but those four were nothing to ignore, bringing the definitely elite zone to 37204. The average closed price in South-meade stomped the other 37204ers at $502,012. 719 Omandale Drive sold for $685,000 in June.

As mentioned earlier, Berry Hill and Rains Way-cross only saw two closings all year. y

The Lofty FailuresEvery homeseller dreams of setting the record for a 37204 sale. In 2009, several homes tried to take the top spot, but simply couldn’t make it.

The most lofty attempts were seen at 746 Benton Avenue for $1.5M (which was pulled and re-listed 12 times by the agent, who coincidentally attempted the same high dollar prices in 37206), 891 Cur-tiswood Lane for $1.2M, 737 Benton Avenue for $949,000, 1127 Glendale Lane for $879,000 and 3900 Crestridge Drive for $879,000.

Analysis shows that buyers craving historic homes at this price point simply aren’t ready for 37204. In 2009, forty-five Davidson County homes built prior

4 | Nashville Reports | 37204 Neighborhoods

to 1930 saw closings above $500,000. Of those 45, forty-three were on the west side in Belle Meade, Historic Richland, Belmont and Green Hills. The remaining homes were in Madison and Whites Creek.

The Fallacy of NumbersSample numbers for 2009 are extremely small in several neighborhoods. Woodmont-In-Waverly registered five sales, Breeze Hill saw five, Rains Waycross saw none and Southmeade logged four. Waverly-Belmont has 11 homes in its sample.

Woodmont-In-Waverly’s average price came in a bit lower than previous years because of the limited

sales, but keep in mind this is one of the smallest neighborhoods in Nash-ville.

MLS numbers only show less than 41 distressed sales in all of MLS Area 2 which includes 37204, 37203, 37212, 37205, 37215, 37209; so, chances of finding a short sale or foreclosure in this area is a tough mission. Note that 1281 homes closed in Area 2 in 2009 (see chart on next page.) y

3 37204 Reality Checks and Warning Signs

BRIAN COPELAND | VILLAGE REAL ESTATE | 5

4 37204 Bright Spots and Trends To Watch

Intriguing SpotsRains Waycross must stay on the radar screen for this zip code. This is part of Area 1 while most of the zip code is in MLS Area 2. The intriguing part here is that its adjacent to the Fairgrounds. Its fate hangs in the balance. The speedway and tough to look at buildings on the grounds have impeded the neighborhood’s values for years. Rumors are flying all over the city of what could happen there. That leads one to believe that the owners in this area are not going to list or sell a home any time soon. Most of the homes in the area are investor owned.

Berry Hill continues to grow as a strong, organic commercial district for local-type shoppes and res-taurants; so, residential homes are rare now.

Trends for 37204As the alternative to Hillsboro Village, 12South is likely to keep pace and perhaps even outpace its friendly competitive sister, Hillsboro Village in 37212. It may lose a few potential residents to the ever-growing in popularity, Edgehill Village which borders 12South to the north. Already, investors have been snatching up low priced, small homes to tear down and build new, infill homes. This could lead homebuyers to opt for a bit of a savings ($40K to $70K) and choose Edgehill over 12South.

Waverly-Belmont continues to stride higher and higher in price per square foot and overall closing price thanks to the revitalization of homes in poor repair and the new condos that have spilled new ho-

meowners into the marketplace. Expect Waverly-Bemont to continue on its quest to strengthen.

Southmeade continues to morph into Oak Hill’s borders. Its location and convenience to Brentwood and Interstate 65 will keep the homes in an intriguing position.

Lipscomb continues to hold on top for price per square foot, but 12South is chas-ing the price so closely, it’s now within $2.87 of its price. y

Brian Copeland, Village Real Estate, 615 Woodland Street, Nashville, TN 37206 ¤ 615 369•3278, mobile 615 554•6177 ¤ nashvilleandbeyond.com