Property Q&A in Memphis>Question Details

richard.phil…, Home Owner in Memphis, TN

What would this house realistically sell for?

Asked by richard.phillips, Memphis, TN Sun Aug 18, 2013

It is currently being rented

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Hard to say without touring the inside and seeing what printed data does not show. Also, what kind of condition is it in -does it stink, etc. I can do a quick comp if you would like, but seeing first hand, I will be able to give you professional opinion that will be right on the mark!
0 votes Thank Flag Link Mon Aug 19, 2013
The property could have a market value of AVM Est. Range: $75,200 – $112,800 and an average of about $94,000. This is an estimate and with have to be validated by onsite evaluation. Current property condition is the most important element.
0 votes Thank Flag Link Mon Aug 19, 2013
Well, it will depend on condition as well as any upgrades that have been done. In order to get an idea of market value, I would suggest calling us today!

Laura and Jason Wallace
0 votes Thank Flag Link Mon Aug 19, 2013
About 90% of the sales over there are investors; very few owner occupants purchases. In other words, investors are driving the sales price, not owner occupants. Depending on the condition of the house, around the high 60's to mid 70's. As soon as investors leave the area and values are dependent on owner occupants, expect that value to drop and it is quite possible that the value of the house could take years to get back to the mid 70's (if ever). Reason being is that the neighborhood will be mostly rentals. If you are buying the house as your residency, I suggest going a little further east into Bartlett where your home value will hold b/c it is not entirely investor driven.
0 votes Thank Flag Link Mon Aug 19, 2013
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