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VOL. 43 | NO. 19 | Friday, May 10, 2019

Belmont Park Terrace build raises level of competition

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With building permits breaking all existing records, once quiet neighborhoods are now under siege from builders who are demolishing and then rebuilding homes, leaving many homeowners angry and frustrated.

Their peaceful, tranquil streets are now lined with back hoes, bulldozers, dump trucks, cement trucks, every possible make and model of pickup truck while construction garbage blows like tumbleweeds through subdivisions.

Out of all this confusion comes one bit of good news for homebuyers, a group that has been tormented by this frenetic, fast-paced market for years.

The increase in construction has forced competition among the dozens of contractors building in the area, especially in the upper-end homes. Four walls, a ceiling and a floor do not a house make these days.

Belmont Park Terrace is a street in Green Hills often used to take drivers from the Lipscomb University area to the Seven Hills area of Harding Place. From 2009 through 2012, there were three sales on the street with prices per square foot ranging from $139 per square foot to $173 per square foot, and a peak sale price of $652,000.

Last week, there were two sales on Belmont Park Terrace with 4506A selling for $1.3 million and $324 per square foot, and a 4624 Belmont Park Terrace breaking the $2 million mark at $2.01 million, $320 per square foot.

Sale prices have tripled and square-foot prices have doubled in most cases over that past 10 years.

Amy Shaffer, a Realtor with Parks, represented Shaffer Homes, the owner and builder of 4624 Belmont Park Terrace, which has more features than were imaginable in 2009. Certainly, the spray-foam insulation is now standard, but try retrofitting it into an existing home. There also is hot water on demand available in the kitchen sink.

No kitchen is complete without throwing in an additional kitchen sink for prepping the meal, and that sink, too, has hot water on demand. Both sinks have InSinkErators disposal systems along with the water feature. If only there had been NSychErators in 1995, the world be a better place. Timing is everything.

With 6,287 square feet, the builder anticipated children residing in his creation and designed a drop zone complete with bench cubbies. Both are now required in $2 million homes and are terms unknown to builders in the 1990s when NSYNCH was in vogue.

All five bedrooms have their own bathrooms, with four having bedroom suites. No self-respecting child is going to wander down a hall in order to bathe, shower, brush teeth or visit a bathroom.

With a wardrobe replete with school uniforms and everyday dress, shoes for eight different sports and events from casual to formal, and luggage for extensive travel, the closets must be of the walk-in variety.

There is a MoM in this home, and not of the parental variety necessarily, as almost any upper-end home is going to have a “Master on Main,” as the phrase now goes. This MoM has two walk-in closets and the requisite heated tile floors in the bathroom.

The mandatory shower design is now for a walk-in shower – lots of walking in these days – with a “rain head shower head” according to Ms. Shaffer. The stand-alone tub has cabinetry around it in order to house the television to enhance the soak.

In cases when coffee is needed quickly, there is a coffee bar between the closets along with a trick from the days of the Three Stooges – the hidden door panel, now featured in most of the new construction luxury homes.

The ceilings throughout the first floor of the house reach 10 feet, and the kitchen has a 48-inch Wolf range and the now-mandatory beverage center, this center being of the 24 inch, Uline brand, as is the wine cooler. There is a Dacor warming drawer, Bosch dishwasher, Frigidaire refrigerator and, lastly to ensure that no manufacturer was left out, a Sharp microwave.

While not included in the square footage and consequently given no value in the cost per square foot, there is the outdoor living area. In this home, there is a screened porch with heated ceilings and a woodburning fireplace.

Rae Thomas, one of the stars at the Wilson Group Real Estate Services, represented the buyer, who might relish, relax and revel in this dream home while other builders in town bemoan the new standard set. Uline, Dacor, Frigidaire, Bosch, Wolf and the gang had better ramp up production. Thanks to the Shaffers, a new day has dawned in Nashville.

Realtors mourn Warren

The real estate world is reeling from last week’s death of Matt Warren.

Matt was born into real estate royalty as the son of legends Nancy and Marty Warren.

He was later joined in the business by his sister, Wendy Warren Bradley, all of Zeitlin Sotheby’s International Realty.

Even with his parents’ success to build upon, Matt forged his own road and built a substantial clientele. His tremendous golf talent enabled him opportunities to play with major business leaders and gain their trust and confidence as he built his career.

Loaded with charm, charisma and intelligence, Matt became a top-producing Realtor, gaining the respect and admiration of his peers through his easy-going, fair-minded approach to the turbulent world that of residential real estate.

Molly Edmondson served as his managing broker for many years and recalls Matt a “kind, sweet young man who sold a lot of real estate and did an amazing job.”

He will be missed.

Richard Courtney is a licensed real estate broker with Fridrich and Clark Realty and can be reached at richard@richardcourtney.com.

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PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0