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Posts Tagged ‘home value’

Improving Real Estate Market Offers Hope

July 29th, 2013 Comments off

Article by Amos Maki of The Daily News

The 2013 countywide reappraisal resulted in a historic drop in property values, but improving real estate metrics are providing a glimmer of hope for the local economy.

That was the message industry professionals heard Thursday, July 25, at real estate information company Chandler Reports’ 2013 Mid-Year Master Your Market seminar at the Memphis Marriott East.

The 2013 Shelby County reappraisal has touched every property owner and forced city and county governments to raise taxes to just produce the same amount of revenue before the overall tax base dropped.

For the first time in recorded history Shelby County property values – including those in the city of Memphis and all of its suburban municipalities – dropped, by 3.9 percent.

Click here to read the full article.

May 2010 Shelby County Foreclosure Analysis

June 17th, 2010 Comments off

Shelby County had 445 foreclosures in May 2010 up 12% from the prior year.

The average foreclosure amount was $41,506 (down 13% from May 2009) and the average foreclosure appraisal amount was $128,439 (down 1%).

Foreclosure Notices were down 14.3% from May 2009 with 976 filed for the month. Germantown East (38139) had the highest increase in notices from the prior year with 8 total for the month.

The Top Foreclosure inventory holders based on the total number of properties in inventory at the end of the month were: Fannie May (495), Housing and Urban Development (334) and Deutsche Bank (236).

The Top Zip Codes for Foreclosure inventory based on the total number of bank owned properities at the end of May were: Frayser-38127 (441), Westwood-38109 (417) and Raleigh-38128 (377).

The Top Residential Seller for May was Fannie Mae with 104 total sales averaging $66,706 and a total sales amount of $6.9 million.

Click here to review our free Residential Market Trend Reports.

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Read the lastest article on foreclosures from The Daily News here.