Carole Fields

Westhaven's 3rd Annual Courtyard Garden Tour

Westhaven's 3rd annual Garden Tour is scheduled for today from 10 am to 2pm, Saturday from 10 am to 3 opm, and Sunday from 11 am to 3 pm.  Tickets are $10 and proceeds  benefit WAVES , a Williamson County non-profit that  provides services for developmentally  disabled adults and children.

There are eight featured gardens ranging from a "railway" garden, a Zenlike garden, English flower garden, etc.  This is the place to pick up some great ideas as well as enjoy the beauty.

The 2008 St. Jude Dream Home at 469 Wire Grass Lane is open, also. The home is open each weekend until June 15th.  Hours are 9 am to 5 pm on Saturdays, and noon to 5 pm on Sundays. Tickets for a chance to win the home are $100 each. The drawing will be held on July 22.  All proceeds benefit St. Jude's Children's Research Hospital.  What a great chance to possibly win a $700,000 home in this exceptional planned community.  See you there!

Happy Mother's Day!

"Praise her for the many fine things she does."

Proverbs 31:31 (TLB)

Mother's Day is for all wonderful women who give comfort and encouragement, who praise, protect, and share their wisdom.  These exceptional women make our lives richer and warmer by their example and love.  We celebrate and salute you!

Best Wishes for a Happy Mother's Day!

Mothers

"When God thought of mother,

He must have laughed with satisfaction,

And framed it quickly-

So rich, so deep, so divine,

So full of soul, power, and beauty,

Was the conception."

Henry Ward Beecher

Freedom

"If a nation values anything more than freedom, it will lose its freedoms; and the irony of it is that if is  comfort or money that it values more, it will lose that too."

W. Somerset Maugham, Author

Luxury and Green Real Estate

        The luxury vacation-home market  is still strong.  We are a great value for foreigners.  For information on this bright spot in the market and for the latest "green" trends for some celebrity buyers please   Click here

OPTIMISTIC OUTLOOK FOR LUXURY VACATION-HOME MARKET

The outlook for prime vacation-home property over the medium and long term is strong and optimistic according to the 2008 Annual Wealth Report. (Lauren Baier Kim, April 29, 2008, The Wall Street Journal) More Information

Lunch with Lawrence Yun, NAR Economist

Lawrence Yun,PhD, Chief Economist, National Association of Realtors, spoke at a luncheon for the Williamson County  Association of Realtors. Dr. Yun specializes in statistics and economic forecasting. He ranks in the top 5 of economic forecasters in the country, and we were fortunate to have him speak to our group. He reiterated many of the principals we know.

Dr. Yun emphasized that  " all real estate is local."  Just as one could not reliably state that the average temperature in the United States is 57 degrees; so one cannot realistically say that the real estate market is increasing/decreasing a certain percentage nationwide.  We all know that many factors influence value. i.e. location, condition, curb appeal,style, etc. 

Dr. Yun addressed the issues of sub-prime loans and the increase in foreclosures.  The sub-prime market is 9% of existing loans, and many of the buyers were in default BEFORE the rates were reset.  Certain areas of the country  that experienced heightened activities by investor/flippers have been the hardest hit.   Many of these individuals were working with OPM (other people's money), and had planned on quick resales at higher prices. Then the market changed on them. Now, many are willing to walk away from their financial obligations since they only take a hit on their credit scores. Thus, we see vacant condos,  single  family dwellings, etc. Wall Street participated in the housing bubble. When the gamble did not pay, we saw the huge loss write downs for past lending mistakes.  We can expect additional write-downs. It's not over yet.

The good news according to Dr. Yun is that homes in Mid-America are under-priced. There are several positives for the Nashville area :  job gains are accelerating, rising exports help our economy, we have consistent job growth, affordable home prices, and historically low interest rates.

Dr. Yun expects the second half of 2008 to be improved with more access to FHA loans.  We can anticipate a "honeymoon" period after the 2008 election, and 2009 should be back to higher levels of real estate activity.  Buyers should have a long term horizon for their home purchase.  Historically homes tend to double in value every 10 years.  Real estate can be a prudent investment leading to an accumulation of wealth.    With increased choices and historically low interest rates this is a good time to buy.

Dreaming

"Without leaps of imagination, or dreaming, we lose the excitement of possibilities. Dreaming, after all, is a form of planning."

Gloria Steinem, Author, Feminist

Destinations

"To reach (our goal) we must sail sometimes with the wind and sometimes against it.  But we must sail and not drift, nor lie at anchor."

Oliver Wendell Holmes, Sr., physician

Signs of Improvement for Real Estate

Amid all the "doom and gloom" there are signs of positive growth in the Real Estate industry.  Interest rates are still low, Freddie Mac is revising the "Jumbo conforming" loan market to help high cost distressed areas such as California,etc. Please check out the referenced article for some good news.

REAL ESTATE OUTLOOK: INDEX SAYS POSITIVE GROWTH UNDERWAY

The Conference Board’s “Index of Leading Indicators” suggests that there should be positive growth underway in the second half of the year, if not sooner. Click here to view some of the positive economic signs that have developed this past week. (Kenneth R. Harney, April 24, 2008, RealtyTimes.com)

Volunteering on the Harpeth River

My Office, Bob Parks Realty in Franklin, spent a day volunteering on the Harpeth River in the River Park area of Brentwood.

We had teams rolling cedar trees in erosion control matting. These cedar bundles were secured to the river bank by another team from our office. It was hard work but the weather was pleasant, and Lottie McCormick, Senior Vice President of Home Financial Group,LLC, provided breakfast and lunch for the volunteers.  Thanks Lottie!  The photo on the right is part of our group that bundled cedar trees for placement on the river bank.

The goal was to stabilize the river bank to prevent further erosion.  The cedar trees were donated by farmers who consider them a nuisance, and are glad to remove them from their property.  We are able to recycle and bundle the trees in a cost efficient manner.  The matting is made of recycled coconut husks.  This material takes longer to breakdown than jute and is better for management of the erosion control process. Our volunteeers bundled all the cedar trees available at the time, and these were installed on the riverbank.  A successful project!

If you have a creek or stream on your property,the Harpeth Valley Watershed Association recommends that you plant trees along the bank and mow 25-50 feet from the edge to help curb erosion.

The Harpeth River Watershed Association (HRWA) is "dedicated to protecting the ecological heath of the Harpeth and providing expertise in statewide conservation policy."  The drought last summer emphasized how important this goal is for everyone's well being.

The HRWA welcomes community support and volunteers. To learn more about this organization and how you can help, please visit www.harpethriver.org   You can make a difference!