Condo in Memphis: downtown or midtown? (condominium, crime, houses)

[mecho]

I am currently working at downtown and I am looking to buy a condo by middle of summer... But I am concerned a little to buy a condo in Memphis area due to unknown condo market situation... I am struggling to make a decision about should I have to buy a condo in downtown or midtown area.
What I know about Memphis is that in few months Law school will be open and it will bring some crowd, however the situation of condo in downtown is overcrowded; too many existing one empty and there are too many condo projects about to finish ...
The other hand midtown condo is relatively cheap compare to downtown condos, but I am not sure if someone would buy a condo in midtown when you're living a city whereas people from South who like to own a house instead of living in a condominium...
I will really appreciate if someone with knowledge about Memphis condo market advices me which part of town I should choose to buy a condo. Thanks in advance for your help

[Pearlbob]

If you want a condo, what would it matter if other people would want to buy one? There are plenty of condos in midtown.

The downtown condo market crashed a while ago and has not picked up. There are empty complexes, places that went bankrupt and were never finished, etc. But if you are buying one and will stay for many years, things are bound to improve (glass half full!) If you are only going to be in the place for a couple years then sell, I think you will have a very hard time selling. They are also not coming down on prices at all, so I don't think you're going to get much of a deal. They are selling them right now just to break even, not make money. So they aren't lowering prices.

[fittoac]

I live in a condo downtown. I really love it! There is always something going on downtown and it's great to be able to walk to everything. Pearlbob is right about the condo market crashing here, but I agree that it will eventually get better. We can't stay in a recession for the rest of our lives! (...... right??......) If you are looking to only live here a year or two, buying a condo downtown might not be a good idea. If you're considering it for 5+ years, I'd say come on down!

[Pearlbob]

And I don't agree with the idea that people from "the south" like to live in houses, not condos I think it's simply a matter of young vs old, urban vs suburban. It's like that in any large city. There will always be a group of people who like urban living, condo living, and don't want a house or a yard. Currently, the market is just plain terrible, therefore you're not going to see people buying ANYTHING. I know plenty of people who hate houses, hate the suburbs, hate yards, and love condos. Whether or not they can afford to buy is the only problem.

[2nomadic4me]

Personally, I wouldn't want to live in any of those areas.

[John&Dawn]

Thanks for the ideas re: purchasing a condo in Memphis. My SO is taking a teaching job in Memphis and I am going to go along with her. I am in private practice as a psychotherapist (MA level). I am interested in hearing from anyone about a) suggested housing locations b) cell phone companies and c) what the yellow pages look like for counselors/marriage and family therapists. We are from Nebraska and will be spending a week in Memphis at the end of the month. I'd like to hit the ground running.

[Pearlbob]

AT&T is in Memphis, and is probably the best nation-wide company. From what I hear from others, their prices are very good, good service, and good options.

I haven't seen a paper yellow pages in a long time But you can look online in the yellow pages and see what's in there. As I'm sure you know, Master's level therapists aren't as highly needed in larger cities, since we also have a huge medical center here with tons of psychiatrists and PhD psychologists. I think in Memphis, most MA level therapists are more alcohol-and-drug, social work type people. Of course, that would leave lots of room for you!

Housing locations...you have to give a lot more info on what you are looking for before we can give suggestions. Kids? House/condo? Suburbs? Schools? Price range?

[jenjenc]

My wife and I bought a place downtown a year ago and really like it. We live in the South Main area of downtown and we find it extremely safe, easy freeway access and a lot of stuff to do at night without having to drive. Yes, the housing market is not good, but that is everywhere and there are some REALLY nice new condos that you can get deals on.

[five nines]

I recomend Verizon Wireless but only because I've used them the entire time I've been in Memphis.

As for places to live I lived in the South Main District for a couple years in a great condo. South Main is walking distance to everything downtown!! If you choose to live downtown that is where I would recomend. Mud Island is a short drive away and a top destination for out of towners that want the suburbs close to downtown.

For convenience to east memphis or downtown I would recomend Midtown. There are plenty of historic homes and condos that are selling at prices that would be good long term investments.

Remember that crime is everywhere in Memphis. Some of the most desirable neighborhoods (specifically in midtown/downtown) are 1 block from very undesirable neighborhoods. Go to the neighborhood at night, see who's walking around and what cars are around.