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Victorian style homes for sale in Memphis

One of the MLS entry choices for “type” of home is “Victorian”. Choice of style is up to the listing agent’s discretion. There seems to be a pretty wide range of opinions among Memphis agents as to just what a Victorian house is. Here are some examples of Victorian houses across the USA, as well as descriptions of the various Victorian styles.

These are current Memphis real estate listings tagged as Victorian style:

(note: this is a dynamic display - re-visit this post for updated listings)

To search for your favorite home style, or any other criteria go to the local Detailed Search  or contact me at joe@spake.com.  I will be happy to help.

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Interesting real estate links for week ending May 22, 2012

Last weeks most interesting real estate stories from a variety of sources:

Digest powered by RSS Digest

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Interesting real estate links for week ending May 15, 2012

Last weeks most interesting real estate stories from a variety of sources:

Digest powered by RSS Digest

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Sometimes you just don’t have time to go looking for the latest post from your favorite blogs.  If you are using an RSS reader, and you are like me, you probably have hundreds of posts to wade through to get to what you really want to read right then.  I haven’t been a big advocate of blog mail subscriptions in the past, but one of the features of Wordpress’ Jetpack Plugin lets readers easily subscribe via email.

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So, “big deal,” you might say, “I have always been able to subscribe to blogs by email.  Yes but major handlers of  post subscriptions  like Feedburner usually only email post once a day, so by the time you get them they are old news - already made the rounds on Twitter, Facebook and the RSS readers.  A Wordpress subscription (see illustration above and widget in the far right column of this page) emails you instantaneously every  time the blog posts.

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Is it too early to call it a trend in Memphis Real Estate?

April, 2012 Home Sales - Memphis Area

Memphis real estate is on an upward trend, right?  Well, if you use number of units sold as  your as a measure, things are looking pretty rosy, with  a 15.3% increase in sales  4/12 over 4/11 and a 19.7% increase Year-to-date.

April2012 Sales figures

The good sign here, at least for the month of April, is that median prices showed a 13.7% increase, and average prices increased 11.6% over 2011. In my opinion, median prices are all tied in with inventory - if there are more inexpensive houses on the market being sold, it will skew the prices downward; less cheap houses - median prices rise.  Remember that about a third of the residences sold in this area are sold for below $50,000.

Are we out of the woods yet?

This bar graph below shows monthly sales over the past 3 years (2009-red, 2010-green, 2012-blue).  Let’s face it, 2011 was a dismal year. And we are straggling behind 2009 in unit sales.

yearly sales graph

However, a couple more positive months, and this stalwart bear will be morphing into a guardedly cautious bull.  We all want to know that values are trending up, and we all want to know what these types of stats have to do with us, and our particular situations.   I can’t end this post without saying that All Real Estate Is Micro-Local.  Consult an agent that specializes in your neighborhood and knows what’s happening right there.

Mortgage rates are still great if you are considering a purchase or re-finance.  I would like to write about some of the re-fi programs for underwater owners, but I will leave that to the experts.  There are programs available.  Contact me, and I can get you in touch with the experts.

The stats in this post are provided by the Memphis Area Association of Realtors.  Click here to download  the full report.

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March 2012 real estate sales - Memphis area

The Memphis Area Association of Realtors (MAAR) has published its two versions of March, 2012 residential sales statistics.

Take your pick

The Report Based on Recorded Deeds

MAAR usually publishes a report based on recorded deeds in Shelby, Tipton, and Fayette Counties (Tennessee) early in the month following the reporting period.

march-12 sales-deeds

Wow, this report  shows a 21.4 YTD increase in unit sales and a 19.8% increase  Y-O-Y for March. Median and average prices are still trending downward.  That variation between average and median indicates there are still a lot of lower priced properties being sold.  Download the full report for a detailed breakdown of sales info.

The Report Based on MLS Data

Later in the month, MAAR publishes sales data for the prior month from the Multiple Listing Service, which reflects sales from areas  within the 3 county area, but also sales from other parts of west Tennessee,  eastern Arkansas and north Mississippi that MLS members are involved in.  So we are not really comparing apples to apples in these 2 reports.

march-12 MLS Sales

The MLS report shows a more modest 8.2% sales increase Y-O-Y for March and a 14.9% YTD increase, based on units.  Average and median prices are still in a downward trend for the year, with prices significantly different from the report above. Median price for march could have been skewed by a larger number of high-priced sales or a lowered number of  reported low-priced sales.  I like to track the YTD numbers- monthly can be a bit fickle.  Download the  full report  for much more detailed information.

And there’s another player in the real estate sales numbers game

Daily News/Chandler Reports monthly sales report  is drawn from a totally different data set and has consistently provided residential sales information for many years.   Their headline for the March report read:  Home sales up 18%! - reporting sales unit numbers fairly close to MAAR’s first (recorded deeds based) report, yet with enough variation to warrant some attention.

So what is the consumer, homeowner, real estate agent to make of all of this?  Well it all depends on the data being crunched, and obviously there are at least 3 sets of data out there.  So remember what I say in this post just about every month:

ALL REAL ESTATE IS MICRO-LOCAL

Consult a professional who knows YOUR community.

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Code enforcement addresses neighborhood eyesores

Code Enforcement IssueDoes your neighbor park his pickup in his front yard, because his driveway is filled with inoperable junk cars?  Does he let his grass grow waist-high?  Does the neighbor down the street have soft drink machine on the front porch?  Does a mechanic operate out of his house and garage on the next block?  These are, of course, egregious examples of neighborhood eyesores and nuisances; but do you know what is legal and illegal according to City of Memphis Code of Ordinances?

Top Ten Code Violations in Memphis

  1. Accumulation of junk, trash and debris
  2. Open storage of material and furnishings
  3. Parking and storing inoperable (junk) motor vehicles
  4. Excessive weed, grass, trees, and shrubs
  5. Substandard structures and fences
  6. Off street parking
  7. Special use / recreational vehicles and equipment
  8. Commercial vehicles and equipment
  9. Abandoned and derelict structures
  10. General service and repair shops
For more details, here is the City’s list with pictures and further explanations.  Of course there are many more ordinances on the books;  here’s a summary of codes that affect neighborhoods and home owners and housing.

How do I file a complaint about a violation?

code enforcement issue 2For non-emergency violations you will probably want to start by contacting the Mayor’s Citizen Service Center at 901-576-6500, or the Department of Housing/Code Enforcement can also be contacted at 901-576-7380 to file a complaint regarding unsafe housing conditions, or inoperable vehicles, or File your complaint online.  Occasionally we hear of  slow or no response by code enforcement.  I encourage you to contact the authorities again and have all your concerned neighbors do the same. In the end Code Enforcement will be held accountable for a resolution
We, as members of the community, tend to put up with nuisances and violations rather than taking action to make things better.  Excessive code violations tend to run down a neighborhood in general, lowering property values and the neighborhood’s desirability.  Whether you own or rent, take pride in your neighborhood.  Live where you live!
code enforcement issue 3

Photos Courtesy of Memphis City Beautiful Commission

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It’s not too early to think about a garage sale

I am optimistic that warm weather  is just around the corner.  And what better time to lighten your load of worldly possessions and give the house a good cleaining and airing, than the warm, sunny days of Spring.  Here are some tips from REALTOR® Magazine for staging a successful Garage/Yard sale:

 

How to Hold a Successful Garage Sale

Garage sales can be a great way to get rid of clutter ” and earn a little extra cash  before you sell your home. But make sure the timing is right. Garage sales can take on a life of their own, and it might not be the best use of your energy right before putting your home on the market. Follow these tips for a successful sale.

1. Don’t wait until the last minute. You don’t want to be scrambling to hold a garage sale the week before an open house. Depending on how long you’ve lived in the home and how much stuff you have to sell, planning a garage sale can demand a lot of time and energy.

2. Get a permit. Most municipalities will require you to obtain a special permit or license in order to hold a garage sale. The permits are often free or very inexpensive, but still require you to register with the city.

3. See if neighbors want to join in. You can turn your garage sale into a block-wide event and lure more shoppers if you team up with neighbors. However, a permit may be necessary for each home owner, even if it’s a group event.

4. Schedule the sale. Sales on Saturdays and Sundays will generate the most traffic, especially if the weather cooperates. Start the sale early, 8 a.m. or 9 a.m. is best, and be prepared for early birds.

5. Advertise. Place an ad in free classified papers and Web sites, and in your local newspapers. Include the dates, time, and address. Let the public know if certain types of items will be sold, such as baby clothes, furniture, or weightlifting equipment. On the day of the sale, balloons and signs with prominent arrows will help to grab the attention of passersby.

6. Price your goods. Lay out everything that you plan to sell, and attach prices with removable stickers. Remember, garage sales are supposed to be bargains, so try to be objective as you set prices. Assign simple prices to your goods: 50 cents, 3 for $1, $5, $10, etc.

7. If it’s really junk, don’t sell it. Decide what’s worth selling and what’s not. If it’s really garbage, then throw it away. Broken appliances, for example, should be tossed. (Know where a nearby electrical outlet is, in case a customer wants to make sure something works.)

8. Check for mistakes. Make sure that items you want to keep don’t accidentally end up in the garage sale pile.

9. Create an organized display. Lay out your items by category, and display neatly so customers don’t have to dig through boxes.

10. Stock up on bags and newspapers. People who buy many small items will appreciate a bag to carry their goods. Newspapers are handy for wrapping fragile items.

11. Manage your money. Make a trip to the bank to get ample change for your cashbox. Throughout the sale, keep a close eye on your cash; never leave the cashbox unattended. It’s smart to have one person who manages the money throughout the day, keeping a tally of what was purchased and for how much. Keep a calculator nearby.

12. Prepare for your home sale. Donate the remaining stuff or sell it to a resale shop. Now that all of your clutter is cleared out, it’s time to focus on preparing your house for a successful sale!

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Copyright 2008. All rights reserved.