Chandler Reports Blog - The Latest in Local Real Estate

While we are patiently awaiting a close to the month and hoping for major improvements from July, here are some of the most notable sales we have seen so far this month.

4031 Galloway Drive S sold for $1.69 million on 8/13/2010. This property was foreclosed back in May by Community Bank for $1.7 million. Morris Family Real Estate LLC purchased the property.

6275 Shady Grove E sold on 8/9/2010 for $910,000, 3545 Shea Road sold for $950,000 on 8/18/2010 and 9778 Lipsey Cove sold for $765,000 on 8/11/2010. All of these transactions were non-bank sales.

Drivetime Car Sales Co LLC purchased 2177 Covington Pike on 8/13/2010 from First Tennessee Bank for $1.26 million. The 2-story car dealership was built in 1986 and sits at the southwest corner of Covington Pike and Elmore.

3417, 3435 and 3443 Spotswood Avenue all sold on 8/23/2010 for a total $680,000. University Highlands purchased the properties that were previously foreclosed by InSouth Bank and Sycamore Bank. Click here to read The Daily News Online’s coverage of the sale.

Be informed about notable real estate transactions by subscribing to The Daily News Online’s free email edition of the daily publication. You will be notified each business day about the latest in local real estate, business and legal news.

Know any great speakers that can discuss local/national real estate trends at our 3Q10 Master Your Market luncheon on November 11? Please contact me, wendy@chandlerreports.com.

Wendy Uncategorized agent, appraiser, commercial, home sales, investors, lenders, Memphis, property sales, real estate, real estate agent, realtor, residential, Shelby County

Foreclosures were up 3% from 2Q09. Foreclosure notices were down almost 15% for the quarter.

(38120) River Oaks in East Memphis had the highest increase in foreclosures, up 275% from 2Q09 with 15 total, an average foreclosure amount of $465,365 and an average appraisal amount of $637,233.

The average foreclosure appraisal amount has risen every year since 2003, currently up to $125,119 in 2Q10.

(38125) Southeast Shelby County received the most foreclosure notices with 233 total, but overall their notices were down 26.3% from 2Q 2009.

Frayser is the leading inventory holder with 431 properties at the end of the quarter valued at $27.9 mil.

(38018) Cordova South leads the county in foreclosure inventory value with $55 million followed by (38125) Southeast Shelby County with $51.1 million.

Fannie Mae is the leading inventory holder with 502 total properties in inventory at the end of the quarter valued at $56.4 million.

Review our Market Trend Reports here!

Click here to read the latest article from The Daily News on the local housing market.

Wendy Uncategorized appraiser, banker, foreclosure, foreclosure notices, foreclosures, lender, market, real estate, real estate agent, realtor, realtors

The total number of home sales for June was 1,570, up 22% from June 2009! 

Wendy Uncategorized appaisers, appraiser, foreclosures, home sales, Memphis, new homes, real estate, real estate agent, realtor, realtors, residential, Shelby County

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.

Wendy Uncategorized appraiser, foreclosure, foreclosure notice, foreclosures, home value, local real estate, real estate agent, realtor

Please join us on Thursday, July 29th from 11:30AM-12:30PM at the Germantown Athletic Club Media Room to receive highlights on 2nd Quarter market trends for residential and commercial sales, mortgages, foreclosures and more!

Featured Guest Speakers

Joe Steffner, President, Grubb & Ellis/Memphis will provide an overview of the commercial real estate market in Shelby County.

H. McCall Wilson, Jr., President & CEO of The Bank of Fayette County will give insights on residential lending.

Each participant will receive a copy of our presentation, a boxed lunch and copies of our 2Q10 Market Trend Reports.

Click here to register today!

View our latest Market Trend Reports here.

Read the latest article on local real estate from The Daily News Online.

Wendy Uncategorized appraisers, commercial appraiser, commercial property, developers, foreclosure, foreclosures, home sales, homes, local real estate, Memphis, mobile, real estate agent, real estate agents, real estate data, real estate investors, real estate trends, realtor, residential, Shelby County

A total of 58 commercial sales were closed in July, up 14% from June and up 2% from July 2008.

Commercial property sales totalled $24,923,754 with an average sales price of $429,720.

The average price per square foot was up 66% from June to $40.16.

No commercial Bank Sales were closed in July, compared to 4 in June.

Click here to view Chandler Reports’ Quarterly Commercial Market Conditions Reports.

Wendy Uncategorized appraiser, commercial, commercial appraiser, commercial property, commercial realtor, Memphis, real estate, real estate agent, realtor, Shelby County, warehouse