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Old 07-28-2011, 02:45 PM
 
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OK, so AutoZone made a very nice offer and we are moving to Memphis. (From Upstate SC, me, wife and 4 kids, but we will be home schooling this year. May possible take advantage of schools next year, or may do private school.)

Looking at several areas and I have been using the handy-dandy color coded map. Had some questions about a few neighborhoods and I was hoping to get some help from you experts again before I even talk to the real estate agent. These are the ones we found potential homes in:

Bartlett Estates
Sea Isle Park (near 240)
Keswick-Stornaway
Surrey Woods/Bartlett Woods
Bartlett Village (north of Yale Road)
Hunters Hollow
Countrywood

Also, the area bordered by I-40, Sycamore, Whitten, and State Roads wasn't highlighted. Any thoughts?

Any thoughts or suggestions you can provide would definitely be appreciated.
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Old 07-28-2011, 06:46 PM
 
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Of the neighborhoods you listed, the only ones that would concern me would be Bartlett Woods and Countrywood. I would be a bit concerned about property values in both of those. Bartlett Woods is just too close to Raleigh. Personally, I love Raleigh (Memphis' real melting pot) and think the problems there are incredibly exaggerated. However, proximity to Raleigh could be the long-term kiss of death for property values. Countrywood has been affected by the foreclosure crisis more than most any other neighborhood in the region (proportionately speaking). Property value loss is contagious; foreclosures in your neighborhood can really hurt your home's worth.
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Old 07-29-2011, 05:47 AM
 
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I agree about being careful with Countrywood, even though I received the full asking price when I moved from there five years ago, making an 80% profit over my investment. The Sea Isle area you mentioned, especially east of Estate Dr. is loaded with beautiful old oaks, nice forty + year old homes, and has held its character and property value well.
Welcome to Memphis! Your family will have some good environmental and entertainment opportunities like the #1 rated zoo, Children's Museum, Mud Island, many miles of biking and walking trails, Lichterman Nature Center, 4500 acre Shelby Farms Park, Botanic Gardens and art galleries.
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Old 07-29-2011, 07:31 AM
 
Location: East Memphis
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Quote:
Originally Posted by REPBOY View Post
I agree about being careful with Countrywood, even though I received the full asking price when I moved from there five years ago, making an 80% profit over my investment. The Sea Isle area you mentioned, especially east of Estate Dr. is loaded with beautiful old oaks, nice forty + year old homes, and has held its character and property value well.
Welcome to Memphis! Your family will have some good environmental and entertainment opportunities like the #1 rated zoo, Children's Museum, Mud Island, many miles of biking and walking trails, Lichterman Nature Center, 4500 acre Shelby Farms Park, Botanic Gardens and art galleries.


I will co-sign on Sea Isle Park. That is really a charming, stable neighborhood with a lot of character.


Keswick-Stornaway is also nice and pretty much borders Germantown to the east. However, I would advise you to stay as far north as possible to get as far away from the apartments near Quince as you can. You also may want to check out the Greentrees neighborhood north of Keswick-Stornaway (Bordered by Mesick to the south, Poplar Pike to the North, Kirby Pkwy to the West, and the City of Germantown to the east). The houses in this area are larger and more expensive (but not crazy per sf) and on larger lots. Greentrees is a very charming neighborhood with beautiful trees. You also may want to take a look at the Balmoral area to the west (same price range and very similar to Kewsick). Another neighborhood in this area is Kirby Woods. It is bordered by Quince/Messick to the south, Park/ Poplar Pike to the north, Kirby Pkwy to the east and Ridgeway to the west. This is a really nice neighborhood and is right behind some of Memphis' most prestigious and expensive private schools. This neighborhood is absolutely lovely, but will be more expensive. A good street to check out to get a feel for that area is Massey between Park/Poplar Pike and Quince. The trees are amazing.


The area bordered by I-40, Sycamore View, Whitten etc. is not bad either. I also think this area may feed into White Station High School and White Station Middle, which are the best schools in the city and some of the top schools in the state (if you are considering public schools). This may be a plus if you have high school and middle school age children. The neighborhoods that feed into these schools usually have very high per sf property value, but for whatever reason this area is not too expensive. You may want to investigate why before buying in the area. There may be an issue with property crime or too many rental properties.


I don't know much about specific neighborhoods in Bartlett so I will let the others chime in on that.


Countrywood is a nice area, but as the previous poster said, property values have flat lined. This is good for buyers since you will be able to find a great deal, but if you plan on moving again in 5 years or less you may take a hit on re-sale
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Old 07-29-2011, 10:58 AM
 
Location: Manhattan
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Find a less expensive house in Germantown if you can afford it.
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Old 07-29-2011, 08:05 PM
 
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To add to my previous post -- Let me echo what a couple of others have written: Sea Isle is a great neighborhood. I'd go as far as to say that it's one of the best in the city, imo. It has low crime, beautiful trees and homes, and great neighborhood spirit. And unless things have changed drastically in the last two years, it is served by a wonderful elementary school.
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Old 08-01-2011, 09:49 AM
 
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Sea Isle is wonderful. I have a few friends who live in that area and wouldn't trade it for anything. Excellent neighborhood.

I'm also seconding Keswick/Stornaway and Greentrees. Those houses are bigger, but I grew up in that area -- it's still very nice. Just like Tigertate said, though, stay as far north of Quince as possible.

Hunters Hollow is a nice subdivision in Cordova -- my aunt and uncle live there, and it's very quiet. Not sure about property values, though I guess there's really that concern anywhere right now.

Walnut Grove Lakes in Cordova is another good neighborhood. The houses are older, mid-century"ish," and they have some real charm and character. Granted, some of them are in need of renovations, but you can find some really neat houses there. My husband and I came very close to buying a house there, but...well, the reason we didn't is a long story that has NOTHING to do with the neighborhood and everything to do with the seller.
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Old 08-01-2011, 10:09 AM
 
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Thanks everyone for the replies. Unfortunately, I left my updated house list at home this morning, but we have them ordered and sorted. We have 4 kids (as some may remember from my previous thread), and they would prefer to not share bedrooms, so we are looking at 5 BR 3 BA homes. Good time to be a buyer as we found about 15 for $150k and under. None that cheap in Germantown or Collierville, but a few in Cordova. (some in the other areas I mentioned before.)

Our thought is to visit our list of 13 or 14 and decide what to do then. Since we aren't sure how quickly our home here will sell, I'm not sure how much more we can afford. We found two VERY nice looking homes on-line in Hunter's Hollow, so good to hear about that neighborhood. (My 11 year old DD was thrilled at all the "SHOPPING" nearby. :roll: ) We will be home schooling for at least another year (probably more), so school issues are not a major concern at this time. The subdivisions around N. Germantown remind me very much of the area I grew up in as a teen. Nice subdivisions with close "suburban" commercial stuff. Looking forward to visiting them in person.

Our thoughts are to get a decent house for a good price and hope (along with everyone else) that the economy returns value to homes in the next 5-7 years. If not, we want to find someplace we would be happy to stay in if we can't resell for a profit in 5-7 years. I think some of our top 5 would easily fit that bill.

One thing I noted, I checked the [Moderator cut: link removed, linking to competitor sites is not allowedwebsite to compare economy, crime and cost of living (among others) between Cordova (38016) and Simpsonville (29680) and it looks like this will be a move up for us. Yeah, I recognize that may say more about me than I should, but I think we will "fit in" well in Cordova. Hopefully one of our "top 2" homes (both in HH and the only two that we didn't say "I like this except for..." about them) will still be available and we will get a great deal on it.

Thanks again for the information and help. Anyone else wanting to chime in more information is welcome. All the information I can get is helpful.

Last edited by Yac; 11-08-2011 at 04:23 AM..
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Old 08-19-2011, 07:55 AM
 
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Well, scratch everything I said above. My wife and I talked it over again, and we decided that resale was one of our biggest priorities. Talked to the real estate agent and that ruled Cordova out pretty quickly. We got here and our agent had found some homes (and an alternative website) for us to look at in Olive Branch. Went to look at homes last Monday and the standard process was look through the home, as we left, the agent would give me the listing paper to review, and I would hand it to my wife as we got in the car telling her to take notes on this house while we drove to the next.

Yeah, so about 9 houses in, I glance over at a stop sign and she has a teal colored "gel" pen out and is writing at the top of the listing paper, "I LOVE THIS HOUSE!!!" I don't think she actually used a heart for the O's, but she just as well could have. We did visit a few more on Monday, and a couple on Tuesday, but nothing else measured up. So, we haggled with the bank (it was a foreclosure) and came to an agreement. Papers and loan approval are in the works right now. Goodbye Cordova, Hello Olive Branch.

We did go to Incredible Pizza on Saturday before the family returned home, and drove through the Cordova neighborhood. Everything looked nice, so I'm sure we would have been fine living there, but with potential resale being high on our list, it may be a good thing that we didn't. I'm satisfied even though I didn't want to live in Mississippi again. And my wife was right, she really does love that house. Now if the banks would just get off their rears and get busy.
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Old 08-19-2011, 01:42 PM
 
Location: Manhattan
506 posts, read 951,106 times
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I'm sure you know but you will have to pay significantly more taxes in Mississippi.
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