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Archive for September, 2011

Upcoming Training Seminars and Events

September 29th, 2011 Comments off

Join us Tuesday, November 1st at MAAR’s Education Center from 3:30PM-4:30PM as we review all of our latest features and new report tools! This free seminar will cover the new features of our comparables reports and the new reports that we have added over the past year. A live demonstration will show users how to easily pull data in multiple formats and compile a comprehensive property analysis report. Click here to register today!

The Daily News will be holding a complimentary breakfast seminar for real estate professionals to learn more about their online services and tools to research properties and potential buyers and sellers. This seminar is being held Wednesday, November 2nd from 9:30AM-10:30AM at the Germantown Great Hall’s Media Room located at 1900 Germantown Road. Please click here for more details or to register!

Our “Master Your Market” Third Quarter Update will be held Thursday, November 3rd from 3:00PM-4:30PM at the Germantown Great Hall’s Media Room. Join us for an overview of residential and commercial sales, foreclosures, new housing, mortgages and more! Bill Dries, Sr. Reporter for The Daily News, will provide an update on the Shelby County school consolidation and guest speakers will provide their insight into how the consolidation could possibly affect housing. This is a free event and attendees will walk away with copies of our most popular market trend reports. Click here to register!

If you have any questions or would like to register for any of these events, please contact Wendy Greenlaw at 901-528-5273 or wendy@chandlerreports.com.

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Shelby County August Foreclosure Analysis

September 22nd, 2011 Comments off

August foreclosures were down 34% from the prior year with 289 recorded for the month. The average foreclosure amount was up 7% to $94,611 compared to $88,138 in August 2010.

Hickory Hill (38115) had the most foreclosures with 24 total, up 33% from last year while areas like Frayser and Raleigh saw a major decrease in foreclosure activity, down by at least 50% from the prior year.

Foreclosure notices were down 6% with 785 filed for the month. Cordova’s (38016 and 38018) had the most notices issued with 55 and 49 respectively.

Fannie Mae leads as highest foreclosure inventory holder with 461 properties in inventory at the end of August valued at over $58 million.

Westwood (38019) leads the county for the most foreclosures in inventory with 240 properties valued at $14 million.

According to an article from Bloomberg Businessweek, foreclosure activity is expected to increase with a 33% surge in default notices being issued to delinquent homeowners in August, a sign that banks are speeding up the foreclosure process after a year of delays. Click here to read the full article.

Review Shelby County Residential Market Trends here: http://www.chandlerreports.com/propinfo/shelby/RealEstateTrends.asp

Register for our Training Seminar at MAAR on Tuesday, November 1 from 3:30PM-4:30PM where we will demonstrate all of our new features and tools! Click here to register today!

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August New Housing Analysis

September 15th, 2011 Comments off

Shelby County had 75 new home sales in August up 21% from July but down 6% from the prior year. New home sales accounted for 6% of all sales for the month.

The average sales price for a new home was $206,155, down from July 2011 and August of last year.

Arlington (38002) had the most new home sales with 16 total averaging $255,581 per home and the most new home permits with 18 total averaging $188,969. Gerland Creek in Arlington had the most new home sales with 6 total averaging $137,668.

Cordova’s 38016 and 38018 and Southeast Shelby County 38125 rounded out the list of most new home sales by zip code with 10-11 new home sales each.

Regency Homes had the highest volume of new home sales with 15 total averaging $195,751 and 2,787 sq ft. Regency also filed the most permits for the month, 21 total averaging $214,655 and 3,067 sq ft.

The top subdivisions for new home permits were Wolf River Ranch in Collierville, Grays Creek in Cordova and Evergreen Hills in Arlington. Each subdivision had 5 new home sales with Wolf River Ranch’s averaging the most at $339,800.

Read the latest article from The Daily News about August building permit activity by clicking here.

Click here to review our complimentary Shelby County Residential Market Trend Reports.

Shelby County August Home Sales Report

September 8th, 2011 Comments off
Shelby County had 1,299 home sales in August, up 9% from August 2010! 

Average home sales prices for the month were $135,425 the highest average sales price we have seen since September 2009!  

Bank sales were down 11% from August 2010 with 335 total. Average bank sales prices were up 3% to $63,716. 

New home sales were down 11% from the prior year but were up 15% from July 2011 with 71 total sales. The average sales price for new homes was $205,977 down 6% from August 2010. 

Foreclosures were down 34% from last year with 289 recorded and an average foreclosure amount of $94,661. This was the lowest number of foreclosures recorded since January 2011. 

There was a $2.6 million foreclosure of a home located at 600 Shady Grove Rd. South that foreclosed on August 26th. 

Foreclosure activity was highest in Hickory Hill North (38115), Oakhaven/Parkway Village (38118) and Raleigh (38128). Frayser’s foreclosures were down 57% from the prior year with only 16 recorded for the month. 

785 foreclosure notices were filed in August, down 6% from the prior year. 

54% of all home sales were sold for under $100,000.   

Click here to view our August 2011 Residential Market Trend reports.   
Training Seminar 
Tuesday, November 1st
 Join us on Tuesday, November 1st from 3:30PM-4:30PM at MAAR’s Education Center as we review our most commonly used reports and new features including:  
  • Mapping Selected Comps
  • Market Conditions Report
  • Remove Bank Sales
  • Show Bank Sales Only
  • View Area Foreclosures
  • Search By Radius

Click here to register today!

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