Wednesday, May 4, 2011

WILL NEW COUNCIL BILL AFFECT HOME RECORDING STUDIOS?

Worry Not: A New Council Bill Won't Hurt Home Recording Studios

POSTED BY STEPHEN GEORGE ON TUE, MAY 3, 2011 AT 7:09 AM

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For the past couple weeks, a decent bit of behind-the-scenes anxiety has built over an otherwise frank bill introduced by Metro Councilman Mike Jameson to create new rules to allow home-based businesses to function mostly like actual businesses.
The bill is the kind of obvious amendment that sometimes arrives to clarify an obscure or outdated law. But a growing number of people have become worried that the amendment would also hamstring home-studio recording engineers to the point of putting them out of business.
Not so, Jameson says.
“When we were drafting this amendment, what got repeated in the ‘prohibited uses’ were a laundry list of the current prohibited uses, and that included recording studios,” he says. “That was not intended.”
Jameson tells Pith he’ll amend the final version to make sure home studios, among other things, are protected. He says he met with the Recording Industry Association of America on Monday morning and assured officials there that the bill wouldn’t ultimately affect home studios.
Like pretty much all other home-based businesses, such recording studios have always been restricted by law beyond the point of functionality. That’s because the law — as written — says you can set up a home-based business but cannot have clients, visitors, patrons and so forth. Jameson says he and officials with the planning department have looked at some 250 other cities and found no home-occupancy code as restrictive as Nashville’s.
“The bottom line is that I’d be hard-pressed for anybody to justify the current version of the code,” Jameson says.
There are 152 home-occupancy permits on file now, he says. But if you cross-reference general business permits with addresses in residential zones, Jameson says, you find some 8,000. And according to the most recent U.S. Census figures, more than 12,000 Nashvillians said they work from home.
“The vast majority of them are technically — well, they’re illegal,” he says. “But I don’t believe illegal in the sense that Nashvillians really want them gone.”
So rock on, Nashville. Codes wants to hear ya!

Friday, February 4, 2011

Arcadia Publishing: Nashville's Sylvan Park

New from Arcadia Publishing, written by Sylvan Park locals Yvonne Eaves and Doug Eckert!  CLICK HERE TO ORDER YOUR COPY TODAY!

Thursday, May 13, 2010

Monday, May 10, 2010

WHEN DREAMS ARE WASHED AWAY...

We are still in the early recovery stages of the Historic Nashville Flood that took place in our fair city on May 1st and 2nd. This last week has been spent not caring so much about my real estate practice as it has been about the practice of loving and helping others in my community.

Digging through the water-logged possessions of my clients and complete strangers--tossing precious memories into black trash bags--it just doesn't make sense how one's life could float away like this, as if on a raft downstream to nowhere.

I am proud to live in a city of compassionate, loving people. I have heard of only two instances of some idiots trying to loot (and they were apprehended, thanks to some keen eyes and fabulous Metro Police). I was helping a family dig out with about 8 other people on Saturday when a swarm of 20- and 30-somethings descended upon us like angelic hosts. It was overwhelming to see everyone pitch in for complete strangers.

I'm not sure what the Nashville real estate market will look like a year from now. Since the majority of people affected by the flooding did not have flood insurance, will a lot of them just walk away from their devasted homes and mortgages? Will the value of the unscathed homes trend downward due to the destruction all around them?

I'm not sure anyone can answer these questions right now. One thing we must do is keep moving forward. If you are able to help a neighbor with your time or money, please do what you can. We are Nashville. We will not only survive, we I believe we will THRIVE.

Thursday, April 8, 2010

The short-sale wrinkle | Inman News

THIS IS A GREAT ARTICLE ABOUT THE ISSUES PEOPLE ARE ENCOUNTERING WHEN ATTEMPTING TO DO A "SHORT SALE."  CHECK IT OUT!

The short-sale wrinkle | Inman News

Thursday, March 25, 2010

CALIFORNIA, HERE WE COME!

California expands $10K buyer tax credit

State doubles credit to $200M, opens it up to resales

By Inman News, Thursday, March 25, 2010.

Inman News

The state of California has re-established and extended a $10,000 homebuyer tax credit.

The new law, AB 183, signed today by Gov. Arnold Schwarzenegger, allocates $200 million to the credit for homes purchased between May 1 and Dec. 31, and between Dec. 31 and August 1, 2011. That's twice the amount allocated to a similar credit passed for purchasers of new homes last year. Those funds were quickly depleted and builders have been asking for the credit's return ever since.

The state has extended the new credit to first-time buyers of existing homes as well as buyers of new homes. The funds will be split evenly between the two groups, and buyers will have to occupy the home for at least two years.

The legislation had the backing of the California Building Industry Association and the California Association of Realtors.

"The tax credit will help push prospective buyers off the fence, clear out inventory, and jump-start the homebuilding industry, which will help create jobs and reinvigorate the state's economy," said Liz Snow, the building association's CEO and president, in a statement.

"AB 183 also will significantly contribute to efforts to stimulate jobs creation within California's housing market by helping to incentivize first-time home buyers to purchase homes that have been abandoned, foreclosed upon, and returned to the lender; or have been sitting on the market for extended periods of time," said Steve Goddard, the real estate association president, in a statement.

"It is these homes that will require substantial rehabilitation by the new owners, which will in turn generate a tremendous increase in jobs and accessory purchases connected to home improvement activities," Goddard added.

Snow said the credit would be paid out over several years and therefore lessen the blow to the cash-strapped state's budget.

"Additionally, recent studies show that building a new home generates roughly $16,000 in state tax revenues alone, which supports the notion that the credit will more than pay for itself," Snow said.

The Franchise Tax Board concluded that losses to the state's General Fund will equal $200 million: $6 million in 2009-10; $69 million in 2010-11; $67 million in 2011-12; $54 million in 2012-13; and, $4 million in 2013-14.

"The bill appears to represent a blending of policy goals, including: increasing demand for housing by lowering the effective purchase price; decreasing the existing market inventory of homes; and, encouraging construction of new homes. Supporters claim this bill will result in the generation of additional jobs in California. No formal jobs analysis has been conducted," according to a legisaltive report.

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