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Old 05-11-2010, 12:38 PM
 
141 posts, read 495,764 times
Reputation: 33

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What can yall tell me about Walnut Grove Estates? I have looked at their webiste and got all the info off of there, and plan to drive over there, but just wanted to know if anyone has any inside info? I tried to call the contact number on the website and couldn't get through to anyone.

What are the future plans for the area? Do they allow any builders out there? Schools good? Good/bad opinions? We are interested in buying a lot and maybe building something. We like larger lots and lots of green around us!

THanks!
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Old 05-11-2010, 04:49 PM
 
Location: Kentucky
2,927 posts, read 7,758,364 times
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Prices start at $800,000 - that's what I know. Plus, I've been out there a couple years ago. Very nice area next to Greenbrier Country Club.
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Old 05-12-2010, 09:02 AM
 
Location: Todds Rd. area
969 posts, read 2,511,874 times
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I don't think I'd spend that kind of money and be in a neighborhood that isn't complete. There are seveal neighborhoods like this that were started before the market/economy slowed down. Some of them are now building the same size houses (since the deed restrictions require a minimum) but are now building them with less expensive finishes. Tuscany and Ellerslie at Delong are prime examples.

What is happening is that now the builders are trying to get houses as close to $400k as possible since that is where the high end market comfortable at the moment. If down the road, there are say 50 houses in a neighborhood and 35 of them are of a similar price, that will have more influence on the value of the remaining 15 than it will the other way around.

I'd stick with out Harrodsburg Road before I'd do this one, even though personally I like that side of town better!
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Old 05-12-2010, 05:58 PM
 
141 posts, read 495,764 times
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Thank you Lexpert...

Couple other questions-
we are also looking at getting land to build at Ellerslie. Looking in the "estate section" if that's what its considered. Mostly to the left after you pull in there, seemed like larger lots and houses that weren't as close together. What do you know about this area, and what the future may hold for it? Is that section going to stay how it is, larger lots and less houses? Also we heard a rumor about Delong Rd going through the neighborhood or at least that the neighborhood will be accessible from Delong. Have you heard anything about this? My husband is worried about road noise! He wants a QUIET neighborhood and to see lots of green around us, not just other houses! (Hence why we have also been looking out in Jessemine County off Harrodsburg!)

Also where is Tuscany that you mentioned? Are there still land plots available to building?
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Old 05-12-2010, 06:40 PM
 
660 posts, read 1,394,490 times
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That neighborhood has been in build mode since the 1870's when Charles arrived on site. Oh, wait, that's a different Walnut Grove.
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Old 05-13-2010, 06:38 AM
 
Location: Todds Rd. area
969 posts, read 2,511,874 times
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Good one Colorsofme......you forgot to mention that Charles Ingles and the rest of the town blew it up in the last episode!

Tx2ky: I would avoid Tuscany. I don't think you'd like it anyway. It is over there in Hamburg across from Wal-Mart. The houses have a "Tuscan" theme, which amounts to the same houses they are building anywhere in town just with stone arches over the windows and such. The lots are too small for what you are wanting to do.

You can call the city at 425-2255 (LEX-CALL) to find out for sure about Delong coming through Ellersilie, but this is what I have heard/remember reading in the paper. Originally the developer was wanting to to have access from Delong, but the residents on Delong shot it down. I think I even remember reading that the developer had to do some kind of buffer to preserve the rural vibe along Delong Road.


While I am always nervous about building in any neigbhorhood with so many vacant lots, I think Ellerislie will fare well. I think it has a broader appeal. One of the reasons I think it will stand the test of time is because even if they extend the urban sevice area, the giant farm across Delong will likely always be a farm. It is owned by some Sheik from the middle east. That will preserve the county feel for a long time and will give you peace of mind in knowing what the future likely holds for the areas along the perimeter of the neighborhood. Plus it doesn't feel like it is way out of town either. Kind of the best of both worlds.

So, here's my pro's and con's of all the areas you have mentioned:

Jessamine County out Harrodsburg Road: Lots of choices, nice feel, more established, large amounts of high end houses insulates your investment a little better than being in one smaller high end neighborhood. But, it is far out and when you go to sell, there will probably be a lot of compitition right around you.

Walnut Grove: Nice county feel, not far from Hamburg and Greenbriar Country Club if you'd use it. But, may be less appealing to buyers when you go to sell. If you're planning on staying there forever, eventually the land around you will be developed, just like some houses that backed to a farm in Greenbriar now have a nice view of some Ball Homes.

Ellerslie: CLoser to town, security of giant farm across Delong and the boardering areas aren't going to change. But, doesn't feel as rural as the others, especially with the townhouses being built at the front onf the neighborhood.

If you build, I think if you could find a neighbhorhood that is about 75% built up, that would give you enough of an idea about what it will look like when it is done. The only bad thing about is that the best lots will be gone!
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Old 05-27-2010, 05:10 PM
 
75 posts, read 196,489 times
Reputation: 24
Quote:
Originally Posted by LEXpert View Post
I don't think I'd spend that kind of money and be in a neighborhood that isn't complete. There are seveal neighborhoods like this that were started before the market/economy slowed down. Some of them are now building the same size houses (since the deed restrictions require a minimum) but are now building them with less expensive finishes. Tuscany and Ellerslie at Delong are prime examples.

What is happening is that now the builders are trying to get houses as close to $400k as possible since that is where the high end market comfortable at the moment. If down the road, there are say 50 houses in a neighborhood and 35 of them are of a similar price, that will have more influence on the value of the remaining 15 than it will the other way around.

I'd stick with out Harrodsburg Road before I'd do this one, even though personally I like that side of town better!
What exactly do you mean less expensive finishes? I live in Ellerslie and do not see any differences in the houses that are presently being built.
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Old 05-27-2010, 06:33 PM
 
Location: Todds Rd. area
969 posts, read 2,511,874 times
Reputation: 290
The new Barlow and Pickett ones just didn't seem as nice to me as the older ones. Maybe the older ones that I have been in were built by smaller builders who used different materials and/or could have been custom builds rather than spec? They are still very nice....don't get me wrong! Much nicer than my house :-) Just saying that builders are making adjustments to get where the market is now. I know Barlow has dropped prices on a few to try to hit that magic number. Most of the spec ones they have out there have been on the market for over 500 days now. In the past year, 5 have sold (according to LBAR) and 1 "Used" home is currently pending with an asking price of $395k.
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