Home Buying in Midtown>Question Details

Maria, Home Buyer in Atlanta, GA

What area is best for short term investment in Memphis?

Asked by Maria, Atlanta, GA Thu Apr 3, 2008

My husband I are looking at homes in Midtown area. We plan to stay in Memphis for up to 5 years. My question is whether it is best to buy a home in a transition neighborhood or a more established are for such a short period of time. Is Midtown a good investment in this market? Are there certain areas or home characteristics within Midtown that you would recommend?

Help the community by answering this question:

Answers

5
Paige Arnold, Vice President, Afl. Broker, ABR, CPPS, CRA, CRS, GRI’s answer
Hi Maria:

You are wise to have already been searching for your investment home in Midtown. Midtown has the highest resale values of any other suburb in the City - it's also very convenient to all other areas of the City including Downtown.

Midtown homes are filled with charm and character and most were built by Craftsman - you won't find this anywhere else in the City! Midtown appeals to all ages - almost everything is within walking distance of shopping, fine dining, churches and more. The Memphis Zoo, Overton Park, Memphis College of Art, Brooks Museum of Art, Play Houses, The Liberty Bowl, are just some of the offerings of Midtown.

I'll be happy to set you up on the auto mls system and email listings directly to you that match your search criteria. Feel free to call, email or visit my website!

Best wishes - Paige Arnold - Crye-Leike Realtors, Inc.
0 votes Thank Flag Link Mon Apr 28, 2008
When are you planning your move? Obviously it's a buyer's market right now but things are on the upswing. Until recently we were licensed in GA and from the relatives we have there I think you'll be pleasantly suprised at what midtown Memphis has to offer in terms of price. For example, in the Evergreen Historic District, we have a 4 bedr/2 bath home for only $144,900 (MLS#3108360)...that's just one example you can look up by MLS# on realtor.com. Of course, that's one of our lsitings and the price has been reduced for a quick sale (usually Midtown prices are higher). Please contact me at 901-486-2923 if you have any questions....and if you'd like to stay at our bed-and-breakfast during a visit to Memphis (no cost to you), please let us know :)
0 votes Thank Flag Link Thu Apr 3, 2008
You mention that you have looked in Midtown, where else have you looked? I'm asking because there are great "pocket" neighborhoods all over our city and Downtown Memphis should definitely be included in your search. Happy hunting.
Kindest Regards...Joyce
0 votes Thank Flag Link Thu Apr 3, 2008
In 5 years you should coop plus more, of your investment if you purchase correctly. Midtown can be a very charming area and interest a lot of buyers who like an urban area with history of older homes. You know your style and what excite you, but if you do venture into this area, get an agent, like Joe, that focuses and lives there. Because of the diversity of styles, sizes and neighborhoods, please enlist an agent thatwill find you the home that will match your budget and what you project in future equity.

Good luck and welcome to Memphis,

Jo Shaner
Web Reference: http://www.lipseyshaner.com
0 votes Thank Flag Link Thu Apr 3, 2008
I specialize in in-town properties, including Midtown, Downtown, and East Memphis. Midtown has been a stable growth market for decades, as has east Memphis. Basically a good rule of thumb is to follow the Poplar and Walnut Grove/Union corridors, even as you go east to the suburbs. That is where the value is concentrated. In-town properties have a lot going for them - close proximity to Downtown activities, the development of the new bio-tech center the medical center (between downtown and midtown) and, in my opinion a better sense of neighborhoods. Contact me for sales data, neighborhood information, and listings that meet your criteria.
Web Reference: http://www.spake.com
0 votes Thank Flag Link Thu Apr 3, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer