Collierville (low income, foreclosures, loans)

[FourOfUs]

Why the houses closer to the Mall in Collierville (The Avenue Carriage Crossing) are cheaper than the other houses in Collierville? Is there anything wrong with this area?

[Pearlbob]

Compared to what? Other houses in Cville? Are they the same size homes?

I personally do not know the answer, but I have driven to the mall a zillion times and the subdivisions that I can see near the interestate near the mall look bad (to me). Homes crunched very close together, they all look exactly alike, no trees, and they are not big at all. In other areas of Cville, you can find huge homes that have big yards, trees, lots of space. Maybe the ones you are finding are zero lot line homes, or close to it?

[strumpeace]

I haven't seen any homes very close to the shopping center. If there are some near there that are less expensive than other areas, I would figure it's because of size, school zones, safety, and a half million other things that determine demand.

[Bowyer]

I just moved from a subdivision in Collierville-(Estanaula Trails), and the neighborhood is fairly close to the mall. The south side of Collierville (south of Poplar) has had a bad reputation for home prices. I think the problem stemmed from the fact that a lot of growth occurred here in the last 5-7 years during the height of the sub-prime loan hey-day. Lots of people got in over their head and were forced to foreclose. Several in my neighborhood.

That being said, I feel the neighborhoods on the south side present a very good value for the house you pay for. Also, some of the other elementary schools seem to have a better reputation than Sycamore. It seems a lot of the older, established, low income areas are zoned to Sycamore, thus the reputation.

I found that my neighborhood was excellent. Very quiet, safe for my kids nad absolutly loved Sycamore elementary. Dr. Butler (the principal) is unbelievable and her entire staff is excellent. I hated to move....

Now, considering all of that, I feel the south side will rebound in the near future. No more interest-only loans and tighter underwriting will prevent foreclosures which hurt any neighborhood. also, there is a lot of high-end housing being built because there are not many areas north of Poplar left to develop. This should help with stabilizing and increasing home costs.

I feel the reputation (of the south side) is very undeserved. The home are beautiful, neighborhoods are safe, schools are excellent and you are close to 385, the mall and all of the shopping along Poplar. Look a little closer and I think you will like the deals that are still available.

[ColliervilleMom]

Bowyer, that's exactly what our realtor told us, he insisted we stay away from "south of Poplar", and we paid more for a house north of Poplar! Funny thing is, our kids will be going to the same schools as those who live south of Poplar. I had a friend who highly recommended Estanula Trails, and the prices were great, oh well, too late for us, but good to see this being talked about.

[FourOfUs]

I want to thank Bowyer for the nice explanation about locations/schools in Collierville.
We are looking for houses at "Fleming Gardens" subdvision.
Is there anything wrong with this location? The houses there are a little more affordable (for Collierville so speaking) than in others locations on North of Collierville. The subdivision is located on South of the Mall and has very nice large houses with big yards. It really look good to me.

[FourOfUs]

considering-amovetomephis, where is "Estanula Trails" ?

[Bowyer]

Estanaula is south on Byhalia from 385--about 1.5 miles. I have a friend who lives in Fleming Gardens and likes it a lot. A lot of the homes in Fleming Gardens and Estanaula are built by the same builders who build all over Collierville. Smae quality houses, just cheaper prices. Good luck!

[chuck1229]

Originally Posted by FourOfUs

Why the houses closer to the Mall in Collierville (The Avenue Carriage Crossing) are cheaper than the other houses in Collierville? Is there anything wrong with this area?

I live in Collierville, probably just due to age and the construction. It is a developing area around the mall and it will be a heavy traffic area and that may be one reason as well.

[FourOfUs]

I was talking to a friend who work for Collierville and she said the city has a project for a future park on the back of the Fleming Gardem subdvision. This will add a lot of value for those houses. The mall could have created bad reputation BUT the park will be a very good thing.
I am glad to hear that.