Is now a good time to buy in Cordova, TN 38016?

Asked by Lisa Haley, Memphis, TN Tue Jun 26, 2007

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14
Sherry Hulen, Agent, Germantown, TN
Wed Oct 10, 2012
Yes it is a great time to buy in Cordova! My last 2 buyers just locked in at 3.25% interest rate!!
I'd be happy to help you find a home! shulen@crye-leike.com
one was a forclosure. sold for 109,000 appraised for 129000
lots of prices and price ranges so let me know what works for you!
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Kathypeery, Home Owner, Cordova, TN
Mon Sep 17, 2012
Walnut Grove Lake is a fantastic neighborhood in Cordova !!! Each home is unique and crime is almost nonexistent. It is a retreat within the city.
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JoAnn Hughes, Agent, Collierville, TN
Tue Feb 15, 2011
I live in Cordova and love the central location. As in other areas it is definitely a buyer's market. You can get a great home at a reasonable price in a great neighborhood. And did I mention conveniently located?
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Smltono, , Bartlett, TN
Sun Sep 12, 2010
It depends on the future of Cordova. I am looking at a Cordova home where the asking price is $10,000 less than the new home was purchased for in 1993. Housing prices are declining in Cordova. Will prices continue to decline, or have they bottomed? Interest rates on new loans are at the lowest level in the past fifty years; however, loans are much more difficult to obtain. Houses are not an investment but rather a place to live. Even large amounts of appreciation are usually offset by the real estate fees involved in selling the real estate. The only profiteer in real estate sales are professional. If you wish to profit on real estate in Cordova, now is not a good time to buy as you can never predict the future. However, if you like the area, wish to spend many years in Cordova, and find homes in your price range where the yards are mantained and pride of ownership is evident, then now is a great time to buy.
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1st time home…, Home Buyer, Shelby County, TN
Wed Oct 14, 2009
As with any other city, there are good and bad places to move. I would stay away from Germantown Pkwy, or atleast get in a neighborhood that has another exit besides Gtown Pkwy. If you are wondering why, just drive through the neighborhoods and you will see billboards over the tree tops/houses... attempt to turn left (onto Gtown Pkwy) when leaving the neighborhood, it is nearly impossible.
I am a police officer in a suburb in Shelby County and I can tell you there is crime wherever you go, it just doesn't make the news as often as it does in Memphis. I too am looking in Cordova, but no matter where I live, I am still getting a large dog and installing motion lights, alarm, etc...
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Patty Everitt, Agent, collierville, TN
Sat Aug 23, 2008
Hi, Cordova is close to everything, reading all these comments can make you wonder about it all. As a parent I would possibly want to consider schools in the decision if that is applicable to you. Life long Memphian and really love real estate!
Pattty Everitt, ABR, GRI
901-487-7709
Web Reference:  http://www.PattyEveritt.com
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Karen Stephe…, , Memphis, TN
Wed Aug 6, 2008
Hi Lisa,

I live in Cordova and absolutely love it. It is convenient to everything and I don't even have to go into Memphis if I don't want to. Cordova has a huge inventory, but you can get a deal with the right agent. It is very much a buyer's market and you can get a lot of house for the money. Cordova has really gotten a bum wrap but I am confident it will recover, when all the dust settles from the annexation. I am sure it will be like other areas-some good and some bad. If you have any questions, please do not hesitate to contact me.
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Don Debaer &…, , Memphis, TN
Fri Jul 25, 2008
Hello Lisa
Cordova is a huge area, part of which has been annexed by Memphis already, and part is still unincorporated. There is a large inventory of very nice homes in Cordova and a buyer with a top agent to represent them can negotiate a great deal on a home in Cordova.
When all the dust settles and all of Cordova has finally been annexed into the city limits of Memphis...the area will be just like Memphis real estate is now....that is....some areas of Memphis are better to purchase a home in than other areas of Memphis. The same old thing...location, location, location.
So, to answer your question.....it is a great time to invest in a home in Cordova.
Good luck with your home search and if we can be of help to you, please visit our web site at http://www.Bluffcityrealestate.com for contact information.
Don & Connie
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Patti Master…, , 38017
Fri Jul 11, 2008
As you have already seen if you ask 10 people you will get 10 different answers! I sell Cordova homes all of the time and the answer to the question might be it depends upon whether you are purchasing a the right price. The area continues to develop and thrive and like any other large community there are areas that are considered more attractive than others price dependent. The area is affordable and some areas of Cordova are within Memphis city limits while other parts of Cordova are in the county. All of Cordova is within the annexation area of Memphis meaning that should the City of Memphis choose to annex what parts remain Shelby County homeowners will be paying Memphis City property taxes. I think at the heart of the dismay your hearing is the tax base and this totally baffles me. Driving about 7 miles west of Cordova which is in East Memphis (what it's called here) people seek houses and pay tremendous prices for the little homes they end up purchasing and pay the taxes gladly! It's a niche market here. You have to know where to buy just like you would in any other area. Get a pro on your side. You can enjoy a low cost of living and buy a lot of house for your money in Cordova 38016 area right now.
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, , 38018
Mon Jul 7, 2008
I live in Cordova and haven't seen anything that Dorothy has described. Memphis in and of itself is full of crime and thugs so regardless of where you live in Shelby county you will find that. Most of Cordova is in the county where the schools get excellent ratings. My neighborhood is quiet, kid friendly, has a very little crime. I have never seen a "thug" walking around! There are alot of houses for sale but given the current market conditions that is true of most neighborhoods throughout town. However, there have been 7-8 houses sell in my subdivision in the last few months at profitable prices. So, her comments about not being able to unload it is also untrue. I would recommend Cordova to anyone who is looking for a great house in a good neighborhood, for reasonable prices.
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Dorothy, Both Buyer And Seller, Memphis, TN
Fri Jul 4, 2008
Cordova is going to hell in a handbasket and fast, and don't let any realtor tell you lies about it. I have LIVED it. I was born in Memphis into a wealthy family in a huge, fashionable Midtown estate in 1964. Memphis was wonderful back then. But it's different now - so crime-ridden, so dangerous...you just don't feel safe much of anywhere here...even in the 'best' areas such as Germantown - just look at the crime stats. They're all true. And the schools are just awful - no funding, no good programs. I had to come back here a few months back to settle my mother's estate, and have been here longer than expected - I lived with my best friend, who is a nurse married to a doctor , in Cordova - in a 'good' area of Cordova. And you see thugs walking down the street in their so-called 'nice' neighborhood every single day! I really cannot believe it. I have told my friend to move, but she says that she and her doc hubby are too entrenched here with their medical practice etc so........Anyway, if you buy a house in Cordova, not only will you be sorry, but you will not be able to unload it. There are sooooooooooooooo many houses for sale in Cordova - they're dirt cheap - yes, but is it really worth it to live somewhere cheap, just to save money when you could be subject to violent crime??? Think twice.
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Louise Angel, Home Seller, Cordova, AK
Mon Jun 9, 2008
Yes Lisa, if you're still interested, it is a great time to buy in 38016, half in Memphis and half in Cordova. I live here in a gated community, nice homes. A neighbor bought a 3500 sq ft home in 1998, paid $275,000. They sold it last month for $242,000, can't beat that now can you?
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Shari Coleman, , 37122
Fri Jun 29, 2007
Lisa, Although the National News likes to paint a grim future for Real Estate here in Tennessee the future looks bright. Interest rates are reasonable and home prices here are very consumer friendly. I am not sure if you are from Tennessee but it is a wonderful place to live with wonderful people. I would be very confident to say that it is a good time to buy, it is the season when people put homes on the market to move during summer vacation. The choices should be plentiful. I would be very happy to help you in any way.
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Vicki Masell…, Agent, Duluth, GA
Tue Jun 26, 2007
Hi Lisa,

Although I am only licensed in Georgia and not Tennessee to sell real estate, I am confident that now is a good time for any serious buyer to purchase a home, regardless where in the country they are contemplating a purchase.

Consider that you can still take advantage of historically low interest rates (conventional loans are generally still hovering in/near the 6 - 6.5 mark, the fact that most areas have an abundant supply of homes to choose from (at least a larger selection than a year or to ago), and that most sellers are beginning to realize that, if they truly want or need to sell in today's market, then they will have to be realistic about current market conditions particularly when it comes to pricing (translation: opportunity to potentially negotiate a sweet deal).

I would suggest that you ask family & friends for a referral to a competent Realtor in your area. If you or they do not know one, I would be delighted to assist you in finding an Accredited Buyer's Representative (ABR) in your local market (refer to web reference below for more info).

Warm regards,

Ted Shoop - ABR, e-PRO, Reator
Keller Williams Realty Atlanta Partners
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