A list of the 40 new neighborhoods in WIlliamson County

More than 40 new neighborhoods in Williamson County!

People shopping for new homes in Williamson County will see new themes and twists on traditional home designs, an effort on the part of builders to give home buyers something different in 2008.
Turnberry Homes has four new neighborhoods in development and the company has borrowed names from California's wine country: Catalina in Nolensville, Sonoma in Brentwood, Stag's Leap and Chardonnay in Franklin.
"I thought these are absolutely fabulous names for neighborhoods," said Turnberry President Rick Bell, explaining he was struck by the beauty of the Napa and Sonoma valleys while visiting those areas recently.
The company has unusual plans for Chardonnay, where construction is expected to get under way this summer. In addition to featuring new elevations that will be consistently French Country or Old World in design, the neighborhood will carry out a wine theme with a country villa winery at the entrance and vineyards.
"I think it's going to have something for people that is very novel," Bell said.
Home prices in the Turnberry subdivisions range from about $450,000 up to the $700,000s.
In southern Williamson County, developer Mark Mihacsi is just beginning to create Cascade Estates, which he envisions as a water-themed neighborhood.
Mihacsi plans a man-made lake with three fountains in addition to a pool, pool house, pavilion, playgrounds and plenty of natural wooded areas for walking and hiking.
Man-made waterfalls will mark the neighborhood entrance on Lewisburg Pike, along with extensive landscaping. Homes in Cascade Estates will be on one- to four-acre lots and prices are projected to be from $750,000 to $1.2 million.
Not far from Cascade Estates is Canterbury, a new Thompson's Station subdivision that is featuring Old World architecture and an unusually long list of amenities.
Planned are a beach-entry pool, fitness center, community clubhouse, cabanas, a community amphitheater, walking trails, parks, a kids' tree house and fiber optic wiring to every home. The streetscape will include sidewalks, gas lanterns, a cobblestone entrance and guardhouse.
Canterbury will have 1,100 homes when it is completed in 2023. It will include town homes starting in the $240,000s, while single-family home prices will start at about $370,000.
Several other new neighborhoods are being planned to offer residents more opportunities than usual to connect with nature without leaving their subdivisions.
Meadowbrook in Spring Hill will include a 30-acre grass park that's laced with crushed gravel trails. Developer Cornerstone Land Co. has plans to plant approximately 300 trees of varying species on the property. Meadowbrook will also feature three playgrounds for children and a 1.5-mile walking trail.
The single-family homes and the town homes in Meadowbrook will be from 1,200 to 2,600 square feet, with prices ranging from $157,900 to $209,000.
In west Brentwood, Olde Towne has two creeks on the property that the state has designated an "aquatic resource." Developer Adam Stern has committed to preserving them for residents' enjoyment.
This secluded neighborhood of 21 custom homes on 26 acres will also feature green space and sidewalks, hedgerows and street trees.
Development continues at Stream Valley in Franklin, a neighborhood with an intense emphasis on connecting with nature. Plans there call for preserving more than 150 acres of hills, streambeds, ponds and open spaces, as well as construction of a neighborhood spa along with a pool, clubhouse and walking paths.
The site of last year's Parade of Homes, Stream Valley will have town homes as well as single-family homes and a town center with a mix of office and boutique retail space. Home prices will range from the $270,000s to the $300,000s for town homes and from $400,000 to $1.5 million for the single-family homes.
Laurel Cove, a community that will be built around a Greg Norman signature golf course on Arno Road, will also connect its residents to the outdoors in multiple ways.
In addition to the golf course, Laurel Cove, like Stream Valley, will have its own spa. There also will be tennis courts, a tennis shop, a neighborhood coffee shop, pools, clubhouse, children's playground, walking trails and picnic pavilions.
The developer, Tentara Partners, has begun work on the clubhouse, tennis, swim and fitness centers. The development does not expect to have homes until the end of 2008.
Home prices are anticipated to start in the $600,000s and there will be 820 homes at Laurel Cove when it is finished sometime in 2015.

Pre-Approval letter vs. Pre-Qualification letter

Pre-Qualification letter vs. Pre-Approval letter

There is a HUGE difference between a Pre-Qualification letter and a Pre-Approval letter.
By Dianne Christian, Broker
A Pre-Qualification letter can be issued after a five-minute conversation with a Lender. All it says is that X Buyer is qualified to buy a home for XX dollars PROVIDING the information the Buyer has given to the Lender is accurate. It's not worth the paper it's written on because nothing has been verified. The Lender was simply crunching numbers based upon the Buyer's stated income, stated debt and their credit score (which may or may not have been pulled). The Lender is saying this is a price they "can" afford provided they are telling the truth and everything pans out upon further investigation.

A Pre-Approval letter, on the other hand, is more. The Lender is stating that X Buyer is PRE-APPROVED for a loan in the amount of X dollars towards a purchase price of X dollars and that the Lender has already seen their bank statements, IRS returns, paycheck stubs and verified their income, debt and credit report. What remains to finish up the loan would then be the things that are attached to a specific home: the home appraisal, title search, etc. The Buyer's portion has already been done. Around here, in order to get a Pre-Approval letter the Buyer has already made application to the Lender and paid the application fee of about $350 so the Lender can begin the process.

Listing Agents are generally unimpressed when a Buyer provides a Pre-Qual letter. I've often had Buyer's Agents TELL me they have a Pre-Approval letter and then it ended up being a Pre-Qual letter. I send it back and explain the difference. A Pre-Qual letter is worthless, but a Pre-Approval letter shows the Buyer is serious and can afford to buy the house.

New Henley community welcomes realtors

By: Ashley Henkel-Marketing Assistant for Dianne Christian Team

"Don't be a fool and miss this!" Late afternoon on April Fool's Day, was the appropriate comment made by realtor Dianne Christian and she was exactly right! The Henley community welcomed local realtors to preview the newest neighborhood in Franklin which is only minutes from Historic downtown. There are eighty-seven homes in the community built in a valley situated at the corner of Mack Hatcher Parkway and Highway 96. There were six new construction homes that were open to view and built by Henley's featured builders: The Hughes Group, LLC, Frank White Construction, LLC, and Wayne Dunn & Associates. These homes reflect a variety of distinctive architectural styles and fine features starting in the $600s. Even though the homes are built by three different builders, these magnificent homes offer their own form of tranquility with the custom architectural details, soaring volume ceilings, and exceptional amenities. When you step outside you take in the scenic views and breathe taking landscaping on the Pedistrian friendly sidewalks. The realtors gave great feedback and enjoyed meeting the featured builders and discovering this great community. That's not all! Drinks and food were provided, and catered by O'Charley's restaurant. Betty White, wife of builder Frank White also provided her famous homemade desserts. The event also held drawings and cash prizes. The realtors that toured every home out of six qualified for cash prizes. The Keller Williams Franklin Office won the top prize for for having the most agents attend the event. The event proved to be lots of fun and a huge success and the once best kept secret in Franklin is becoming a hot topic in the real estate community!

Henley is just around the corner from the everyday hustle and bustle, you’ll find a new meaning for the word “home.” These magnificent newly built homes offer their own form of tranquility with the custom architectural details, soaring volume ceilings, and exceptional amenities. Be prepared to be pampered with the magnificent master suite, heavy crown moldings throughout, custom hardwood stairs with wrought iron spindles, and sprawling granite counter tops with rich custom solid-wood cabinetry that surround a generously crafted kitchen. Step outside to take in the scenic views and breathe taking landscaping with covered patios and outdoor fireplaces, perfect for entertaining or that laid back lifestyle. This impeccably designed community gives each new homeowner the convenience of living in a secure and elegant setting with wonderfully tree lined streets while being just two miles from Historical Downtown Franklin. Each new homeowner will also be granted a one year membership to the YMCA located at the entrance of Henley, courtesy of The Hughes Group. Welcome home to a new kind of living. This secret you’ll have to tell everyone about!

Golf course community open in Spring Hill

Developer opens gate to golf course community
King's Creek event allows folks to check out homes, admire views
By SUE MCCLURE • For Williamson A.M. • March 28, 2008
SPRING HILL — If you think living on a championship golf course is just for the rich and famous, The Village at King's Creek wants to change your mind.
Beginning at noon Saturday, the developer is presenting a grand opening "Discover Life on Course'' event, complete with model home tours, a golf clinic with nationally known golfing instructor Nancy Quarcelino, an invitational golf tournament, refreshments and a children's area.
All are designed to make you feel right at home on the golf course.
"We are doing this as a thank you to the community and also as a way to say, 'Here's our awesome, new golf course community,' '' said Sims Hill Jr. of Silverpointe Properties, the exclusive listing agent.
"And we want to show off our great views,'' he said, referring to the waterfall and meandering stream that winds its way through the 18-hole Arnold Palmer Signature Golf Course. "It's hard to find a great view in this price range anywhere north of Williamson County.
"You would pay $750,000 minimum for this kind of view alone,'' he said.
Instead, golf enthusiasts — or anyone else who enjoys a manicured greenscape view from his or her upstairs porch — will pay between $270,000 and $500,000 for a town or cottage home.
This, the first phase of a multi-plan development, offers 45 homes, including 29 single-family homes and 16 townhomes. Many of those will overlook a community swimming pool, scheduled to be completed this summer.
So much to see
The Village at King's Creek is owned by David E. Miller Development Co., the same company that developed and owns the adjacent golf course.
David Miller, who has more than 23 years of development experience and developed The Governors Club in Brentwood, said he wanted the development to be integrated with, and enjoy the same success as, the golf course.
"We bought the neighborhood so we could do that,'' Miller said. "And there are fantastic views of the golf course from almost all of the homes.
"In most golf course communities, the golf course winds through the development, so a homeowner just sees one or two holes,'' Miller continued. "But ours is unique in that you can see the entire golf course.
"In fact, from one balcony, I believe you can see 12 holes,'' he said. "That's why many people are choosing to put two-story porches on their homes.
"The views are fantastic, just fantastic,'' he said.
Hold onto your socks
Miller enlisted Doug Majors of Homebrook Builders as the exclusive custom builder. Majors has more than 10 years' experience in building homes ranging in price from $500,000 to $1 million throughout Middle Tennessee.
Majors is working with more than 15 unique floor plans and more than 30 elevations to give residents unique floor plans and views, rather than cookie-cutter homes.
Amenities include one- and two-story front porches, granite kitchen countertops, stainless appliances, a choice of cabinets from Franklin Cabinets, tile in the master bath and hardwood flooring throughout the main living areas.
Some floor plans also offer a downstairs master bedroom.
"The standard stuff in our homes will knock your socks off,'' Hill said.
The homes also feature a traditional neighborhood design to encourage walking and bicycling throughout the community.
Those attending Saturday's grand opening event will be introduced to the builder and development team, have the opportunity to ask questions and tour the various model homes.

New Spring Hill Recreation Center to open soon

The Williamson County Parks & Recreation Department is pleased to announce the dedication, open house and ongoing programming activities for Longview Recreation Center in Spring Hill. The public is invited to the dedication ceremony of this new facility at 10 a.m. April 12. Public tours will follow from 10:30 a.m. to 3 p.m.
As I look and read through the many activities offered, which happen to be too many to put in this column, I encourage you to go by or call 790-5719 if you have specific questions. I have driven by and looked, and we all should be really thrilled and proud to have such a nice-looking facility for our use. It looks very impressive to me from the outside.
Williamson Recycles and Keep Williamson Beautiful have many environmental events planned for the spring. The first event will take place April 26. This will be Shred Day — free shredding of important documents that could be used for identity theft. This event will take place from 8 a.m. to 2 p.m. at 420 Century Court in Franklin. They will also be accepting cell phones and rechargeable batteries for recycling. For more information, please call 790-5848.
I received the following information past my deadline but wanted to share with you that nationally acclaimed home organization expert Monica Ricci teamed up with Beazer Homes recently to apply her extensive experience as a consultant with HGTV. She was in Spring Hill on Tuesday and held a free home organization open-house event for the public to see firsthand the new SmartDesign options. I hope many of you were able to attend this event.
Looks like another subdivision for Thompson's Station was on the agenda this week for the commissioners to review. I am not sure at this writing exactly where the property to be divided is located, but will try to let you know more in the next column. It will apparently contain 252 lots on 226.69 acres at or near 1780 Dean Road. You may visit the town Web site at www.thompsons-station.com for more information.
Our thoughts and prayers are extended to the family of District Attorney General Ron Davis. I know he had fought an earnest, hard battle with cancer, but it was just not for him to win. He has left a legacy among many people.

Franklin studies affordable housing issue

Franklin creates task force to look at affordable housing
Nashville Business Journal - by Jenny Burns
An affordable workforce housing task force is being created in Franklin to study barriers builders say keep them from building affordable homes in Williamson County - high land costs, impact fees and low-density restrictions.
Franklin's new mayor and board of aldermen say they recognize the need for teachers, policeman, city employees and retail workers to be able to buy homes where they work, says Vernon Gerth, assistant city administrator for community and economic development.
"There's mid- to higher-end but not much toward the lower price ranges," Gerth says. "That is a very critical community and economic development issue in our community as we continue to grow."
"Having a balanced community includes affordable and moderately priced housing, which is a challenge and needs focused attention," Gerth adds.
The median price for a home in Williamson County increased to $387,000 from $371,118 in February. The median is the mid-range in a series of numbers, meaning half the homes sold for more than those amounts, and half for less.
"In the $150,000 to $250,000 range, there are very few properties that are for sale [in Franklin] and if they are, they're 35 to 40 years old and may need repair. That's another problem," says David Pair, government affairs director for the Williamson County Association of Realtors.
The committee will examine Franklin's zoning regulations in areas such as density, design standards and impact fees. Gerth says the goal is to facilitate the ability to offer more affordable housing.
Builder Peggy Krebs of Elite Homes says zoning, privilege taxes and land costs make it difficult to build affordable homes in Williamson County.
She focuses on building affordably-priced homes, she says, because she remembers struggling to pay apartment rent and then buying her first home.
Krebs says she can only build affordable homes in Davidson County where there is no privilege tax.
"The trends for affordable housing are not good," Krebs says. "I give [the Nashville] mayor and city [praise] for trying to address it. Some of our other surrounding counties, not so much."

Refinancing? When is it a smart move?

Does refinancing save money? It depends
By BENNY L. KASS • March 29, 2008
I bought my condo 18 months ago. The interest rate on my 30-year loan is 6.25 percent. Should I consider refinancing to a lower rate? I plan on staying here and paying off the loan so it seems even if I save some money on a lower interest rate I will be extending my loan and paying more over the long haul. — Scott
Since you've had your loan for a relatively short time, the costs to refinance your loan may not outweigh the benefits of a lower interest rate.
Let's take this example: Your loan was $300,000.The monthly payment at a 6.25 percent interest rate is $1,847. (This is only for principal and interest; it does not include escrows for taxes and insurance.) If you refinance at 5.75 percent, the new monthly payment will be $1,751, or $96 less per month. You have to do the numbers. Contact your current lender and see if they will agree to allow you to refinance and not charge you all of the settlement costs. Some lenders will be willing to do this.
If not, contact other lenders in your area and compare closing costs. Let's say that they will run approximately $2,500. It will take you 26 months to begin to see the savings on the refinance loan (divide $2,500 by $96).
So in your case, it is a close call. But since you plan to stay in the condominium for a long period of time, it might be worthwhile to refinance.
Here are two suggestions should you decide to go that route: First, instead of paying cash for the closing costs, if you have sufficient equity in your unit, have the lender add those costs to the amount of your new loan. This will not increase your monthly payments very much.
Second, if you can afford it, try to make extra payments each and every month, and specifically advise the lender (when you send in your check) of the amount of these extra payments. If, for example, you make one additional monthly payment every year, you will reduce your 30-year loan down to approximately 22 years.

A new neighborhood for Thompson's Station?

THOMPSON'S STATION — A proposed neighborhood that would link rural Dean Road with Heritage Commons via a new bridge that would go over the CSX railroad tracks was approved by the town Planning Commission last week.
Commission member Millie Halvorson cast the lone vote against River Ridge Farms, though she was not the only member to share concerns. The new development would have 252 lots on just under 227 acres.
Halvorson said she worries about the traffic the development would add around the Heritage Elementary and Middle schools campus.
Commissioner Nina Cooper added an additional concern. "I just feel like these country roads can't handle a lot of construction traffic," she said.
Builders would access the site from Evergreen Road and Dean Road in the first phase of the project, representatives from Cornerstone Development said. This phase will include creating the railroad overpass and the new road,
That phase would take about six months to complete. Afterward, construction traffic would be routed from Highway 31 through Heritage Commons on Trader's Way.
Halvorson said she feared that people would use Thompson's Ridge Road instead, which fronts the campus, because it has a traffic signal at Highway 31.
The site plan and request for residential zoning must be OK'd by the Board of Mayor and Aldermen, which meets at 7 p.m. April 8 at the community center, 1555 Thompson Station Road W.

Nashville ranks 16th in affordability!

Nashville ranks 16th for housing affordability in a new Bizjournals study of 50 U.S. cities ranked by income, mortgage payments and taxes.
Nashville Business Journal-March 2008
While builders and Realtors say they applaud Nashville's top 20 ranking, they note some communities in Middle Tennessee need to embrace the need for workforce housing.
"This is just one more feather in our cap," says Mandy Wachtler, president of the Greater Nashville Association of Realtors. "It tells our nation that we're in the top 20. That brings retirees here."
The study ranked the 50 largest metropolitan areas as of mid-2006. It based mortgage payments on a 10 percent downpayment with a 6 percent, 30-year, fixed-rate mortgage.
Oklahoma City ranked most affordable with low taxes and the lowest mortgage payments - $667 a month for both. California cities ranked at the bottom of the list, with Los Angeles the most expensive.
Nashville's median house payment was $960 per month, but its median monthly household income, at $3,975, was lower than other similar-priced cities.
St. Louis ranked 13th with a $962 median monthly house payment but a much higher median income at $4,147 per month.
Builder Peggy Krebs of Elite Homes sees buyers who spend as much as 60 percent of their incomes on mortgage and utilities, which she says is too high. Experts recommend 30 percent.
"Why should people care?" Krebs asks. "Because the individual who's trying to get by with $40,000, what happens is a disproportionate share of their income is put toward housing, which means less money is put into shops, dining, spending."
Krebs focuses on building for the lower-income demographic in Davidson County because there are no impact fees, she says.
Local buyers find Nashville more affordable than buyers find metro areas in other parts of the country. A survey by the Greater Nashville Association of Realtors shows 48 percent of buyers in Nashville purchased homes because of their affordability while 42 percent said that nationwide.
Davidson County has done a good job of offering high density development and incentives to builders to sell a portion of the units at affordable prices, Wachtler says, but higher-priced markets such as Williamson County need to do more.
"We need to look to all surrounding counties to offer workforce housing, not just 5-acre tracts with mansions on them," Wachtler says.

Signature Tower Moving ahead with Marketing

Marketing push set for Giarratana Development's Signature Tower
Nashville Business Journal - by Jim Stinson Nashville Business Journal
A major marketing push will begin in April to sell another 100 reservations in the 400-unit, $250 million Signature condo tower.
That magic number is necessary for the 70-story tower in downtown Nashville to be financially viable, says Tony Giarratana, Signature's developer.
Giarratana says he has sold 103 units and needs another 100 to get financing. That's a change from how he financed the 333-unit Encore condo tower in SoBro, reflecting the nation's credit slowdown.
"While we financed Encore and Belle Meade Court with no pre-sales, current market conditions dictate that we secure 200 pre-sales prior," says Giarratana.
The tower also will feature a 200-room Kimpton Hotel at the base and a restaurant. The Signature would be the tallest building in the Southeast and eclipse Atlanta's Bank of America Plaza.
Downtown observers say they expect the 70-story Signature to go up eventually and note Giarratana has endured tough times to build the Cumberland, Viridian and Encore towers.
The Cumberland apartment tower, opened in 1999, was the first new residential project in the core downtown district since Metro rewrote zoning laws in 1993.
The 31-floor Viridian, Middle Tennessee's tallest residential building, followed in 2006 with 305 units, and the 333-unit Encore opened in early March.
"[Giarratana] has practically built the entire downtown [residential] market," says Tom Turner, executive director of the Nashville Downtown Partnership.
There are 1,178 residential units under construction downtown, says Turner, a number which excludes the 300 units in SoBro's Encore, where move-ins have begun.
The downtown residential units number includes land south of Jefferson, inside the interstate loop, so Gulch properties such as The Icon are included, Turner says.
Eighty-two percent - or about 966 - of those 1,178 units are sold, says Turner.
Nashville is behind such Southern cities as Knoxville, Charlotte, N.C., and Louisville, Ky., Turner says when it comes to downtown residential development.
The cities average one residential unit for every seven office workers downtown. Nashville averages half that, with about one unit for every 14 workers downtown.
Giarratana says he often hears people skeptical about the downtown market suggest there are 10,000 units downtown, when in fact the market is underbuilt. The reason, in part, he says is the city only legalized new downtown residential construction in 1993.
Turner says he believes the Signature Tower will survive the national economic downturn because of the strong demand for downtown condos.
"I think there is a disconnect between residential demand and the residential economy," he says. "A lot of people are looking at national market stories and not necessarily looking at the local economy. [Nashville] is on a steady uptick."