Bill Lewis, For The Tennessean 4:15 p.m. CDT July 30, 2015
As the Nations reach a plateau, developers are expanding west of Briley into the Charlotte Park-Croleywood area
"The new car' smell, a garage. It wasn't a hard sell," Chris Brickell said of the couple's newly built house on Maxon Avenue in the Croleywood-Charlotte Park area.
The quiet neighborhood has been discovered by builders and eager homebuyers attracted by its combination of affordability and a location along Interstate 40 about five minutes west of downtown.
Home builder Michael Kenner sees Charlotte Park as the next step in the line of neighborhoods that have redeveloped along I-40 and Charlotte Pike, including Sylvan Heights, Sylvan Park and the Nations. Those neighborhoods are filling up and becoming more expensive, so developers have made the leap to the area on the west side of Briley Parkway.
"It's the transition to the next neighborhood. It's starting to pop," said Kenner.
His company, MikeN Development (mikendevelopment.com), and partner HR Properties are preparing to build 102 condos and townhomes on James Avenue on the former site of an auto parts business.
People moving to Nashville want to live close to downtown and are happy to consider neighborhoods that have been previously overlooked, said Kelli Reeves, a Realtor for Exit Realty who sold the Brickells' house and the new home next door.
"People I talk to from New York and California are used to urban living and are not as shy as someone from Nashville," she said.
She expects Charlotte Park to be more affordable than the Nations next door. The Brickells' house listed for $259,900 and features an open floor plan, stainless appliances, granite counter tops, custom tile, a covered back porch and a garage.
"Croleywood and Charlotte Park are getting ready for the big boost because the Nations has reached a plateau," said Reeves.
Benchmark Realtor Graham Howell, who represented the Brickells, agreed.
Their house is similar to those being built in the Nations, but it's "$100,000 less and four minutes farther down the road," he said.
Charlotte Park is comfortably close to the bars and restaurants in the Nations and Sylvan Park, including Hattie B's Hot Chicken and M.L. Rose Craft Beer & Burgers on Charlotte Pike and the Stone Fox on 51st Avenue North, said Howell.
"Everything's starting to move west now," beyond Briley Parkway, he said. "It's like the last frontier, with proximity to downtown but somewhat affordable."
Longtime Croleywood-Charlotte Park area resident Ricky Miller said it's increasingly common for developers to tear down older homes and build two residences on the lot, which is allowed by the zoning. Under certain conditions, they can build four homes on a lot.
The neighborhood response has been mixed. Residents hope developers will build homes that add value to the area without pricing out people who have lived there for years.
"People don't want to be the Nations," said Miller.
"Change is coming. We know the density is coming," said Miller, president of a new neighborhood group. "We want to work with the developers."
Chris and Jamie Brickell expect to close on their new home this month. They are moving from a rented condo in the Wedgewood-Houston neighborhood near Eighth Avenue South. They moved from Atlanta two years ago and are first-time homebuyers.
"We want to live in what we hope will become the next East Nashville," said Chris Brickell.
They have high expectations for the Charlotte Park area.
"Right now it's not the sexiest part of town," he said, "but most likely it's a matter of time."
America's first interest rate hike in almost a decade could come in 6 weeks (on Sept 17th) when the Fed holds its next meeting.
Fed: Prepare for likely interest rate hike in 6 weeks
Dear Americans,
A rate hike could be here in 6 weeks.
Regards,
Janet Yellen and company.
That's the Federal Reserve's main message Wednesday. America's first interest rate hike in almost a decade could come on September 17 when the Fed holds its next meeting. It's being dubbed a "liftoff" moment, since interest rates are currently close to 0%.
The Fed has been clear for months that it will only raise interest rates when it believes the U.S. economy is strong enough. It looks especially closely at the health of the job market and inflation. In its statement Wednesday, the Fed sounded cautiously optimistic that America is back on track economically.
"The labor market continued to improve, with solid job gains and declining unemployment," the Fed statement said.
Rate hike timing: But the Fed stopped short of giving a definitive date for when it will rate interest rates.
"The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market," the statement said.
That's not very clear. However, most experts believe the Fed will act in September. Fed Chair Janet Yellen has slightly changed her rhetoric in recent weeks to say that if the economy continues at its pace, a rate hike will be "appropriate" later this year. That's about as close as the Fed gets to saying that something will happen.
Major economic data -- including economic growth and job growth -- come out this week and next, which could firm or shake up the Fed's timetable.
What it means: Raising rates would be a big deal -- they have been at zero since the recession began in December 2008. If the Fed's committee starts liftoff in September, it would be a show of confidence in the health of the economy and the direction it's going.
On the other hand, investors are not thrilled about a rate hike. Some are concerned it will cause slow down stocks this year, which are already seeing meager progress overall. A rate hike could also hurt investors abroad in emerging markets, where Fed actions in the past have caused major sell offs in developing countries.
Yellen says the committee is on a "data dependent" approach. In English, that means they're not going to say exactly when they're doing something. But the countdown to September has begun, experts say.
"They're going to want to communicate to the market that every single meeting going forward is live for liftoff," says Michael Arone, chief investment strategist at State Street Global Advisors.
Make plans to join us TWO WEEKS FROM TOMORROW, Saturday, August 8th from 9am-12pm (or any time you are able to come.) It's trash pickup day for the Adopt A Highway Program on Franklin Road just south of Battery Lane. We will meet and park at Brentwood Hills Church Of Christ. Do it for the Donut Den donuts. Do it to be green. Do it to work on your tan. Do it to support a good cause. No matter what your reason, just DO IT! RSVP at mike@postandcompany.com
When I started this company two years ago, I vowed to make it different than other real estate firms. No cheesy ads. No bus bench signs. No networking seminars to twist arms and recruit business. Just a real estate firm that put clients' needs first and allowed me to work with my friends. And it has been the best two years of my real estate career.
So as a thank you, we're having a party! More specifically, we are having the First Annual Client Appreciation... Picnic. This is my way of saying thank you for your support, your referrals, and your friendship. There will be no listing presentation or "do you know how much your house is worth?" gimmick. And no gold blazers!
It's just a chance for us to get together and for me to express my appreciation. Please come and if you have kiddos, please bring them! It's going to be a great time, and I'd love to see you there.
WHAT:
Post & Co.'s First Annual Client Appreciation Picnic
WHEN:
September 19th, 11am-3pm
WHERE:
Edwin Warner Park, Picnic Site #11
DETAILS:
The party will be catered by San Antonio Taco Company and will feature all-you-can-eat steak & chicken fajitas as well as plenty of queso and salsa and chips. We will have drinks and dessert, too. There will be a bouncy castle, face painting, and lots of games and treats for the kids.
DIRECTIONS:
Go west on Highway 100 (towards Bellevue). Turn left at Old Hickory Blvd. Turn right on Vaughn Road. Turn right into Edwin Warner Park entrance (past dog park). Follow signs to the back of the park to picnic shelter #11.
Anyone can come, not just clients - the more, the merrier! All I ask is please RSVP to tiffany@postandcompany.com with how many are coming by August 19th so we know how much food to order. Thank you for your friendship and support, and I hope to see you September 19th!
Open floor plan with hardwood floors on entire main level, 9 foot ceilings, two-story entrance, and plantation shutters throughout
So many upgrades here that most Oakhill homes don't have: granite counters, custom kitchen backsplash, master bedroom tray ceiling, built-in bookcases in living room, premium lighting and upgraded hardware throughout, ceramic tile, separate shower and whirpool tub and double vanities in master suite
Attached garage and 2-car concrete parking pad and... plenty of guest parking directly across from townhome. Also, great deck off back of home (only one in Oakhill).
Washer, dryer, refrigerator, lawncare, and trash pick up all included
Just 9 miles to Belmont, 10 miles to Vanderbilt, and 10 miles to downtown
Please call Mike to schedule a showing or with any questions. 615.414.3270
Photo link: http://www.showcasephotographers.com/sba/index.php?sbo=gf1507012Show more
Lease Terms
No pets or smoking, please. Minimum 1 year lease. Discount given for longer lease
Will verify prospective tenant's previous rental history, current employment and credit.
Please call Mike to schedule a showing or with any questions. 615.414.3270
Signage went up today on new Post & Co. location in Grassland area of Franklin! Build-out on space begins next week, and we hope to be officially open by 1st of September.
The median home price in the Nashville area is at its highest level ever. June was the fourth month in a row that set a record median price this time, it was $240,000. And, the number of homes sold in June is the highest it's been since summer of 20
Houses like this one on Richland Avenue, off of West End, are being sold in large quantities and at high prices.
Zillow
The median home price in the Nashville area is at its highest level ever.
June was the fourth month in a row that the region hit a record median price - this time, it was $240,000, according to the Greater Nashville Association of Realtors.
Vanessa Chang has watched those prices march higher. She bought her home in Donelson earlier this year.
"I got a really good deal for it, but I know it's going up. My brother is trying to move here too, and he's trying to buy a house, and yes, the price is definitely going up."
And it's not just price that's spiking. The number of homes sold in June is the highest it's been since summer of 2006.
Below are visuals that help represent trends in Nashville's growth from 2004 to present.
The number of home sales has been increasing over the past five years. Data provided by the Greater Nashville Association of Realtors.
Credit Lily Williams / WPLN
The median home price has been increasing since 2004, and is significantly higher this year than last. Data provided by the Greater Nashville Association of Realtors.
Credit Lily Williams / WPLN
According to data provided as of June 6, these are the numbers of listings for Davidson County ZIP codes 32301 through 32321.
Different areas of the city have differing amounts of available inventory. Data provided by WelcomehomeTN.com.
