Market Conditions in Cordova>Question Details

jewspanic, Home Buyer in Texas

Why are so many homes for sale in this area. Are you in a flood zone and if so, when was these homes flooded?

Asked by jewspanic, Texas Fri Dec 14, 2012

This question was asked from http://www.trulia.com/property/1036057555-9125-Huntington-Oa…

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Hamza Ibrahim’s answer
That's a bit of a broad question but I may be able to help answer that.

What is actually shown for sale on trulia is not always up to date. Many homes are usually already under contract or sold but were never updated on the site by the appropriate parties.

Cordova in general has seen a major shortage of inventory as well as most of the Memphis area. Typically many of these homes are now sold much quicker than 12 months ago if priced correctly.

The reason I say there is a shortage is because many of my investors place contracts on Cordova homes above list price the same day they are placed on market to have a shot of winning the property. Obviously in the higher price ranges the view changes but I still see a very active market.

I placed a Cordova home for sale about a week and a half ago and had a full price contract three days later in the upper 100,000 range.

To my knowledge I am not aware of any particular flood zones in the Cordova areas unless the home sits on a neighborhood lake.

If you would like a more detailed analysis of the area I can send you an interactive report showing you a very detailed look of the area. Simply send me an email address.
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