Downtown Condos (Memphis: for sale, to rent, insurance)

[gotigersgo10]

I am 23 and already own a house on The University of Memphis campus. I am going to rent that for now and have been looking at downtown condos. I was in the market for a 3br. I have only been looking at condos for about a week and don't know a lot about them yet. Any advice? I hear they went condo happy downtown so I might be able to get a decent deal on one.


Thanks,
Wes

[tigergal]

Originally Posted by gotigersgo10

I am 23 and already own a house on The University of Memphis campus. I am going to rent that for now and have been looking at downtown condos. I was in the market for a 3br. I have only been looking at condos for about a week and don't know a lot about them yet. Any advice? I hear they went condo happy downtown so I might be able to get a decent deal on one.


Thanks,
Wes

Exactly how is it possible to own a house "on" the U of M campus? Or do you mean you own one *near* the U of M campus.

[Pearlbob]

Yes, they built way too many cheap condos downtown. But I don't think they have lowered prices at all, which is why so many remain empty or half-built.

A 3-bedroom would be over $300k I bet. Look online for yourself - go to crye-leike.com or realtor.com and search for condos in the 38103 zip code, 3 bedroom ones, and see what they are selling for right now.

[juiceman]

My wife and I were recently in Memphis looking at Condos. We didn't look at any 3 bedrooms but I would imagine you could get one for 250 and up.

[Pearlbob]

Here it is:

There are a couple for around $260k, but more are $300k and up. 3 bedrooms is rare for condos...that is family-sized, and most families don't want to live in condos.


Crye-Leike, REALTORS®:: Property Search Results

[gotigersgo10]

Thanks all. Hey pearl I already tried to make a move on that one for 189k but it was sold as of yesterday...thats too bad.

THANKS

[Pearlbob]

The ones in that building are old and un-renovated. Not the best area right there either (just mean, lots of people, no parking, busy street - completely safe though). I've seen several of them for sale this year, and that's not always a good sign.

[Otto42]

Your best bet for condos is to figure out your price range, then call one of the realtors and have them show you a few.

Give Downtown Condo Connection a call, and ask for Sean Scates. The dude knows pretty much everything about the condos downtown, and what's available and what is not. He lives here and works here and does nothing but condos. He sold me my place, and I love it. He also hooked me up with a lender that pretty much bent over backwards to get me the right deal, as well as a home insurance guy who found me by far the best price I've ever heard of. Really good connections there.

Anyway, their number is 901-399-8500. Tell him Otto sent you.