E. Nashville -- WEST of Gallatin... (Cleveland, Portland: loan, housing, high crime)

[scottv]

Originally Posted by whithill

Hi,
... what's the downside, if any?

getting shot, raped, robbed to think of a few...otherwise, there is potential for huge upside if you can live with the risk for a few years

[Carol McCullough]

In terms of the personal crimes mentioned, based on the stats that I have seen, you've got a much greater likelihood of getting robbed near five points than you do West of Gallatin (unless, of course, you are a drug dealer or customer). I believe the rate of break-ins is higher in that general area as well (which makes sense, there is more wealth).

Rapes happen all over the place. They are not concentrated West of Gallatin.

Shootings probably happen more West of Gallatin. In the majority of those cases, they are related to drug dealing. Otherwise, they tend to happen in commerical corridors often near a beer market/liquor store and related to a robbery.

I have encountered more instances where I am concerned for my safety along the mainstream commercial corridors like Gallatin Rd. itself (grocery store parking lot, for example) than within the neighborhoods themselves. I feel quite safe in my yard and walking the residential streets of Cleveland Park, McFerrin Park, Greenwood and Maxwell neighborhoods.

I have not had a single actual threat to my person anywhere in Nashville since moving to Cleveland Park in 2003. Stuff has been stolen off my front porch (flowers in 2007 and a rocking chair in 2006) and a couple of cheap items from my basement in 2005. We think the latter was in response to us busting the drug house that WAS behind us (it happened during the same weekend as the bust)--which has been drug free for a couple of years, now.

Drug houses and street level drug dealing are more common West of Gallatin. No disputing that. If you aren't a drug dealer or customer and you are smart about how you respond to them (call the police anonymously EVERY time you see something suspicious, call back if the behavior persists and the cops haven't shown up in a timely way--I usually give them 40 minutes on such nonviolent offenses--and don't go confront them yourself), you aren't likely to face any personal danger and you are likely to have a good investment down the road.

Carol
Bring Trader Joe's to Nashville

[clifton]

if anyone doubts the potential appreciation in this area, take a look at MLS 909294 on Hancock St:

Media Display

purchased in January for $68,000

after rennovations, listed for $389,000 ....

[Carol McCullough]

...that Hancock house is severely overpriced. Realistically, I imagine it will sell in the low to mid 200s. Still likely to be a good investment, though.

[Mike in TN]

Key word: listed

[clifton]

I agree it's overpriced .... but I'm impressed someone thinks a property in that area is worth that much!

[artemis]

Originally Posted by clifton

I agree it's overpriced .... but I'm impressed someone thinks a property in that area is worth that much!

Don't be.

I'm sure they want people to think that, but its not gonna happen soon.

We'll see what happens after Oprah's Dad & his wife are done with their development.

[whithill]

Hi Carol,
Is there any visible sign of the Winfrey development yet?
How was the last neighborhood meeting?

[Carol McCullough]

I'm in agreement with Artemis about the house on Hancock. I think inflating the list price that much actually ends up hurting us more than helping us. I know if I were house hunting it would annoy me. A neighbor nearby told me she has seen several people coming out of the house after viewing it and that they are almost always shaking their heads in disbelief.

The Winfrey development isn't supposed to start until 2008. I'm guessing springtime at the earliest. It actually still has one more reading to go through at Council for the zone change, but that is just formality at this point (there is no opposition). I doubt it will be done before 2009.

I don't see the development making that huge of a difference unless they put something in the commercial space that ties the neighborhood together like a coffee shop (PLEASE!) or deli (that would be great, too). So far, they aren't saying what will go in the extra commercial space (there are 3 spaces total and 2 are already taken with Mr. Winfrey's barber shop and a beauty salon).

It might have a small impact within a block or two, but I think the renovations of the older homes throughout the area that are already taking place have as much or more impact. Some of them are just fabulous.

On the subject of the last meeting, it went well. Metro Codes came out and discussed a couple of recently passed pieces of legislation. One mandates Rental Registration so that owners of property they rented out must register with the city and provide contact information (remarkably not done in the past). The other mandates Rental Inspection Districts in parts of town like ours where the housing stock is older. It means Codes will be able to get better access to rental properties to ensure that everything is in good shape. My husband is almost done creating Cleveland Park's website, so that is exciting, too.

Whit, I've been meaning to tell you about a property near me that is being rehabbed and that is not listed, so PM me or email me and I'll give you the scoop, if you are still interested.

Carol
Bring Trader Joe's to Nashville

[kcnative]

My husband is almost done creating Cleveland Park's website, so that is exciting, too.

I would love to take a look at it when it's up...be sure to let us know!