If you are looking in the $175k and under price range, go to Arlington or Lakeland. I am about to have a 3/2 in Lakeland for $134,900.
I'll acknowledge the Elephant in the room.
Most of Cordova has been annexed by City of Memphis, and those areas that are not already a part of the City, are in the areas reserved for annexation by the City of Memphis. Many do not want to be a part of the City of Memphis for a number of reasons.
Germantown and Collierville were not affected as much by foreclosure activity. Not to take too much away from Cordova as there are pockets that have terrific resale potential. Please contact me if you would like to sit down and figure out what part of town best fits your taste.
First National Realty