20 Jul 2010

Embattled 5th & Main Condos Earn FHA Approval | Nashville Real Estate

Blog, Condos, Featured

Embattled 5th & Main Condos Earn FHA Approval

January 20, 2010 by admin · 0 Comments and 0 Reactions 

The 5th & Main condo project in East Nashville, the first large condo project to enter receivership in February 2009, has received approval to issue FHA insured loans (according to the HUD website). The project has qualified under the new, lower FHA guidelines that only require a project to be 30% presold in order to qualify for the government backed loans. The FHA loan concentration has also been temporarily increased to 50% concentration and owner occupancy has been reduced to 50%. The changes in FHA guidelines could not have come at a better time for 5th & Main and should lead to quite a few sales over the coming months should Wachovia/Wells Fargo get aggressive with their pricing.

5th & Main is a 130 condo development located on the East bank of the Cumberland River. Up until this point, the developers and listing agents have only managed to close 8 total condos, 3 of which were cash purchases after the project entered receivership. However, that is all sure to change in the near future. In fact, downtown is about to change fast.

Good News for 5th and Main Could be bad for Others

The price point of 5th and Main condos is quite reasonable and sure to get even more so in the coming months. That is great news for the embattled project, but potentially bad news for nearby buildings who have been courting those same value buyers. When comparing numbers to numbers, 5th & Main is sure to stack up very well and is sure to compete for buyers who are interested in newer buildings like Encore, Velocity and Viridian. As rough as that may seem, the real pain will be felt by the smaller projects physically located in East Nashville like mc3 and the East Nashville Lofts.

Only time will tell for sure, but one fact is indisputable: there are a finite number of condo buyers currently in the market and the competition for those buyers is about to get a lot stiffer. Condo buyers are the new “tweens”.

Fifth 5th and main FHA approval

Related posts:

  1. 5th and Main Condos in Nashville Survive
  2. 5th and Main Condos Boot Renters Out
  3. 5th & Main Condos in Nashville Update
  4. 5th and Main Condos are Taking Offers
  5. 5th & Main Condos in Nashville Lose FHA Certification, Again

-->

This is great news for people who were not able to get in the condo of there dreams because the developments were were not approved for FHA Financing. However the Tides have turned and These beautiful developments are now offering FHA Loans

18 Jul 2010

Nashville Songwriters Christen Fontanel With Flood Benefit

The Woods at Fontanel Songwriters Benefit For Flood Victims.


Last night I had the pleasure of attending a historic event at Barbara Mandrell's mansion Fontanel. Some of most well known songwriters in history gathered together to raise money for the victims in the 2010 Nashville Flood


I was honored to attend the event with my good buddy Rob Wagner  Who is also an agent with my at Village Real Estate Services here in Nashville, TN. I also have to give a shout out to Eric Cook from Greenway Nashville along with his beautiful wife and daughter who attended the event with us. 

Here is a collection of photos I took from the show and all around the Manion of Fontanel.



Jim Weatherly, Dickey Lee and Mike Reid are among the Songwriters Hall of Fame members who will perform at Songwriters Sing for Nashville, a benefit concert for Nashville flood victims held at the newly-opened Fontanel Mansion and Farm. The July 17 event will be the debut concert for the new amphitheatre, the Woods at Fontanel, which seats 2,500 people.

Other Hall of Fame songwriters already scheduled to perform include Matraca Berg, Dallas Frazier, Hugh Prestwood, Mark D. Sanders, Don Wayne and Dennis Morgan. Organizers of the event promise more writers and perhaps a few unannounced celebrities will drop by to help raise money.

The event is truly a who's-who of Nashville's most successful songwriters. Matraca has written a laundry list of big hits including 'Wrong Side of Memphis' for Trisha Yearwood and 'Wild Angels' for Martina McBride. Dickey wrote 'Let's Fall to Pieces Together' for George Strait and 'She Thinks I Still Care' for George Jones. Hugh penned 'The Song Remembers When' for Trisha and 'Hard Rock Bottom of Your Heart' by Randy Travis. Mark's hits include 'I Hope You Dance' for Lee Ann Womack and 'Blue Clear Sky' for George Strait. Dennis wrote the Barbara Mandrell hit, 'I Was Country When Country Wan't Cool,' and 'All Roads Lead to You' by Steve Wariner. Mike's 'Stranger in my House' was a hit for Ronnie Milsap, and Bonnie Raitt recorded his now classic tune, 'I Can't Make You Love Me.'

Fontanel is the former home of Barbara Mandrell, whose husband built the log home in 1988 for their family. They lived there for almost two decades, raising three children on the glorious Fontanel grounds. The 27,000 square foot home is now open to the public for tours. It has been the site of several television shoots, including John Rich's 'Gone Country' on CMT. Tim McGraw and Gwyneth Paltrow shot scenes from their upcoming movie, 'Love Don't Let Me Down,' at the mansion. The site of the mansion also has much historical significance: Frank and Jesse James hid out at a house that was on the property after they committed the ill-fated bank robbery in Northfield, Minn., and Confederate Soldiers assembled on the land during the Battle of Nashville in the Civil War.

14 May 2010

Despite Naysayers.. Taylor Swift Can Sing Like A Bird

 

Taylor1

 

This subject has been on my mind for awhile, however I managed to keep my opinions to myself until now. Living in Nashville and being around the music industry, I find that people are very eager to talk about the negative characteristics of a person, song or performance than they are to honor a person for the talent bestowed upon them. I find this is the case in all walks of life or occupations as well. I will not bore you with pages of dialogue full of my opnions on this subject. I just wish to give taylor some honor for achieving great things in her life, and commed her for her Character and wonderful voice. I was a believer since Tim Mcgraw.

Taylor

Here is a little video clip for the naysayers and sorts..

 

 

Keep the Good music coming taylor!

 

Awards

Matthew Caulk's Posterous

Realtor, Nashville Neighborhood Wiki, Graphic Artist & Business Owner, Father. Passionate about writing, singing and creating music. I have a real heart for dogs and hanging around people who are motivated to succeed. Feel free to contact me if you have any questions about buying or selling Real Estate.