VOL. 36 | NO. 46 | Friday, November 16, 2012
How can you sell it if you don’t know where it is?
When investing in any area, it’s important to have a working knowledge of the terms of the sector in which the cash might flow. At times, a mispronunciation or misuse of a term could expose the buyer as an imposter or wannabe.
In Nashville, one of the most oft-occurring faux pas is when a person thinks they have moved into Belle Meade when they actually live in a neighborhood on the fringe. For example, the even-numbered houses on Nichol Lane are in Belle Meade, while the odd numbered residences are in the Highlands of Belle Meade. The houses on Harding Place that face the Belle Meade Country Club are in the Belle Meade Links, not Belle Meade.
While in Belle Meade, if you stumble upon a street named Evelyn, it is pronounced “eave uh lin.” And when addressing correspondence to a resident of a street pronounced “lin wood, there are two spellings. Some prefer Lynwood – with one n – and others Lynnwood. And there’s the zip code thing in Belle Meade. While 37205 is the zip code of choice, some in the heart of Belle Meade live in 37215.
In the Courts of Belle Meade, there is a street named Lafayette, a name whose origin is the Marquis de La Fayette aka Marie-Joseph Paul Yves Roch Gilbert du Motier, of course. But in Tennessee it’s “la FAY ett.”
The courts are near a street known as Parmer, which until a few years ago was East Bellevue, but that confused everyone.
In East Nashville, it’s even more confusing. According to East Nashville guru Steve Mabee of Zeitlin and Company Realtors, East Nashville is divided into three districts, all not created equally.
Lockeland Springs is the most expensive of the three, while Historic Edgefield is the oldest and Eastwood Neighbors, located on the other side of Eastland, is the emerging market.
And don’t think of confusing Sylvan Park and Sylvan Heights or Historic West Towne. And the casual traveler may confuse Crieve Hall and Caldwell Hall, but that would be a travesty. There is a fine line, but there is a boundary nonetheless between Hillwood and West Meade.
Should you choose to invest in neighboring counties, may I suggest my home county of Maury. Of course that is pronounce “murrey” not “morey,” lest you be outed. The county features two delightful communities, one being Santa Fe, pronounced Santa Fee, and Theta, which is of course theetah. And why wouldn’t it be?
Sale of the Week
For this week’s sales of the week, we’ll venture out Bellevue way and take a look at the residential real estate landscape as the sun sets on the second year following the flood. Neighborhoods there continue to show their resilience.
The first stop is 247 Myhr Green in the community known as Ashley Green, listed and marketed by John Henderson of Benchmark Realty. In his description of the property, John refers to the development as “Sr. (55+),” meaning that the buyers must be 55 years of age or older and, in most cases in these subdivisions, cannot permanently house younger residents.
The home at 247 Myhr Green has two bedrooms, two full baths, 1,745 square feet, an office with built-ins, wood floors throughout, two-car garage, and a feature Henderson felt he should include that is not often found in listings, “fire/EMT close by.”
He also mentioned there is a park and a library in close proximity. Additionally he noted that the home is “handicap friendly, 36” doors and no carpet. The home sold in 217 days for $168,000, and the former owner had paid $115,500 in 1992. Julie Ecrement of McArthur Sanders Real Estate brought the buyer for this transaction, according to Realtracs.
The other sale in Bellevue sale was in the Windsor Terrace condominium development on Highway 70, about a mile and a-half past St. Henry Catholic Church. Here the deer and the turkey lope and play. Diane Wright of Benchmark Realty listed the property as her company seems to be setting high benchmarks for Bellevue area listings.
Diane states that there is a main floor master suite, a vaulted ceiling in the great room, “loads of light,” hardwood floors, granite countertops and two guest bedrooms along with the two-car garage. She sold and closed the property in 21 days for $289,900, the listing price, and her seller had paid $230,000 in 2000. The home has three bedrooms, two and a-half baths and 2,250 square feet.
This week, the Windsor Terrace property wins the price per square foot battle at $128, compared to Ashley Green’s $96 per square foot. Seems fair. Let the youngsters pay the higher prices.
Richard Courtney is a partner at Christianson, Patterson, Courtney, and Associates and can be reached at email@example.com.