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Old 07-22-2013, 05:41 PM
 
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I have been living in Memphis since November of last year renting a home in Bartlett. My significant other and I are in the process of purchasing a home but aren't sure on where the best place to PURCHASE is. We are white, educated, no kids (and no plan for kids) and in our mid-20s. We want to live in the house for 5-10 years. We don't want a "cookie cutter" home, would like a somewhat larger lot, and we want something with a little character (different).

Our budget is maxiumum 150k. Germantown, downtown, midtown and Arlington are out of the question due to lot size, price and location.

So far we have found homes we like in the following areas:

- Southwind (Winchester & Hacks Cross) just south of FedEx Headquarters. Really concerned that this area will soon be (or already is) the next Hickory Hill. Absolutely LOVE the house we found though.

- Cordova

-Bartlett

- Walnut Grove

- Southaven

- Olive Branch

Pros/Cons of these areas? Keep in mind we like to go downtown on Saturday nights. Thanks for any input!
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Old 07-22-2013, 08:15 PM
 
Location: East Memphis
845 posts, read 2,535,693 times
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The area near FedEx will never be like Hickory Hill, but it may experience a little more decline over the nect decade or so. There are too many great nearby places that will help lift this area above Hickory Hill level (I.e. Southwind and Windyke Country Club, FedEx, etc). This areas is also absent of a large number of apartment complexes which tend to attract more crime. If I was buying I may not consider the area unless I got a great deal. I am not sure you will see much ROI in that area in the next 5 years.

Cordova is another area where you may see some decline in spots over the next decade, but nothing like Hickory Hill. You will be able to find a lot of house for your money in Cordova but the ROI will be limited.

Bartlett is very similar to the two areas above with the benifit of being in an independent suburb. Parts of Bartlett will decline slightly over time, but you still have the advantage of a suburban city government that is not going to put up with much crap. You can find some great deals in the NW section of Bartlett where there has been a lot of new construction.


What part of Walnut Grove are you talking about? Parts of Walnut Grove are very high end and way out of the price range you mentioned. Other parts of the Walnut Grove area like High Point are more affordable, but still pretty expensive per SF. Are you talking about the areas of Walnut Grove near Cordova like Walnut Grove lakes?

Southhaven is much like Bartlett where it will experience decline in parts but the local government will make sure that things do not get out of hand. MS has a state income tax that you need to be aware of. Depending on the location of your job this area may be a good option.


OB in my opionion is the nicest area in Desoto County. I prefer to be on the TN side of the border but if I did choose to live in MS I would probably pick OB.

Last edited by Tigertate; 07-22-2013 at 08:55 PM..
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Old 07-26-2013, 01:23 PM
 
680 posts, read 1,031,271 times
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Quote:
Originally Posted by vwcha1 View Post
Our budget is maxiumum 150k. Germantown, downtown, midtown and Arlington are out of the question due to lot size, price and location.

So far we have found homes we like in the following areas:

- Southwind (Winchester & Hacks Cross) just south of FedEx Headquarters. Really concerned that this area will soon be (or already is) the next Hickory Hill. Absolutely LOVE the house we found though.

- Cordova

-Bartlett

- Walnut Grove

- Southaven

- Olive Branch

Pros/Cons of these areas? Keep in mind we like to go downtown on Saturday nights. Thanks for any input!
At that price point, the nicer suburban areas closer to the East Memphis area and downtown are out of the question. I think 5 years would mean you'd barely break even (after counting closing costs, realtor fees) is more likely even in the most stable areas. Houses for that price in Collierville or Germantown are going to need some serious work, so I'd avoid that unless you are comfortable with having to pay for upgrades.....but it may be worth looking into deals. There are a couple of places out there where a smaller home (with a smaller lot though) may be had for $160,000.

I'll do my best here with the recommendations. For reference, here is a map of the reserve areas for annexation: http://www.cityofbartlett.org/Docume...r/Home/View/44

Southwind - Very nice, seems to be aging well, but Hacks Cross/Winchester has an aweful lot of traffic. On the other hand, you'd be getting a nice 20-30 year old home with a tree shaded lot and plenty of space. Hard to beat if you work at Fedex....although I think you may have trouble finding a good selection of homes in your price range there. Many are 4 bedrooms or larger.

Cordova - Annexed by Memphis, but the areas east of Germantown Road seem to be doing okay. The area closer to Wolf River near Walnut Grove is actually doing very well. The annexation issues seem to be priced into more listings today than ones 5 years ago. I think it's a much safer buy today than it has been for a long time.....and so long as you can tolerate traffic on Germantown road, I think this area will be fine for at least the next decade if not longer. There are still many undeveloped tracts between Germantown Road and Houston Levee that will bring new homes, businesses, etc. The downside is school quality- so I would be a very aggressive negotiator if considering a home in this area.

Bartlett - Bartlett is a fine area, with a mix of 3 and 4 bedroom houses. Without kids, you really don't need much space. There are a number of 3 bedroom (and sometimes smaller) homes to choose from but Id' consider something more family oriented to make it easier to sell. With the new municipal schools, it's possible that the home values for properties in good districts may go up or at least remain stable in Bartett for the next decade IMO. Low crime and lots of nearby shopping and restaurants, and not all that far from downtown depending on where you choose to live.

Walnut Grove - Depends on where....out towards Forest Hill and Sanga in the southern Cordova area, there are a lot of newer, nicer homes in that price range. Some of the housing along Forest Hill south of Walnut are very expensive though. This area is doing very well and is near Cordova and two very good private schools along Houston towards Collierville. If you were talking about the area around Highland, then you will probably get an older home that may need work- and you'd be in a nice area with easy access to mid town, east Memphis, and downtown, but fairly close to declining areas north of Cooper and around Holmes/Walnut. I actually think the Highland/Walnut/High Point Terrace area is a neat part of town....if you go that route, stay as far east of Holmes as possible.

Southaven - Great choice, but lots of traffic and Mississippi has state income taxes and funky car registration taxes. There are plenty of houses in that price range- some are in very nice areas with large lots like you wanted. My wife and I came very close to buying in the area south of Snowden Grove a couple of years ago....I recommend that area for Southaven.

Olive Branch - Also a great choice. I think homes are a little more expensive there because the public schools are slightly better, but I think it's the nicest part of Desoto County. The drawbacks are traffic on Goodman Road and having to take Lamar avenue into the city.

I'd also strongly consider Arlington if your place of employment is on the eastern side of Memphis. It's a little far out, but the home prices are reasonable and there is a good selection. You are also fairly close to the Wolfchase area for shopping. It's sort of like a small version of Olive Branch but with no income taxes. I think the area will grow significantly in the next decade- both with retail expansiosn and residential developments.

Last edited by tigerphan; 07-26-2013 at 01:38 PM..
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Old 07-26-2013, 02:53 PM
 
Location: Crosstown *****
1,062 posts, read 2,046,730 times
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Midtown
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Old 07-26-2013, 07:26 PM
 
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Can you post a link to the house that you like in Southwind? Everybody has a different style, so it's hard to tell what you would like from your post. If you like Bartlett, there are a lot of older houses with character on large lots out there, especially south of Stage along Elmore Park or Altruria and also along Broadway north of Summer.
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Old 07-28-2013, 07:07 PM
 
428 posts, read 846,692 times
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Quote:
Originally Posted by tigerphan View Post
Olive Branch - Also a great choice. I think homes are a little more expensive there because the public schools are slightly better, but I think it's the nicest part of Desoto County. The drawbacks are traffic on Goodman Road and having to take Lamar avenue into the city.
I agree with all of your post but I would ad to the quote I put above that there are multiole ways to get to and from Olive Branch and Mississippi. You can take the 385 freeway and get off on riverdale and take that to Olive Branch where it becomes Germantown road. Or you can take Kirby exit or Hack Cross from 385 depending on what part of Olive Branch you live. I avoid Lamar/78/I-22 when going to Olive Branch.
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Old 07-28-2013, 08:40 PM
 
Location: East Memphis
845 posts, read 2,535,693 times
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Quote:
Originally Posted by MissStateDawg View Post
I agree with all of your post but I would ad to the quote I put above that there are multiole ways to get to and from Olive Branch and Mississippi. You can take the 385 freeway and get off on riverdale and take that to Olive Branch where it becomes Germantown road. Or you can take Kirby exit or Hack Cross from 385 depending on what part of Olive Branch you live. I avoid Lamar/78/I-22 when going to Olive Branch.

Yep, I was going to say the same thing. You can get to OB using Riverdale and a couple other routes. Lamar is not the only major route into Memphis from OB.
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Old 07-30-2013, 03:37 AM
 
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I will also be in a position to probably buy a house by next summer in the Memphis area. My budget for a home will probably be between the 150-175k range. Seems like a lot of people push Collierville and Germantown, but for the money from what I've seen, I could get a MUCH nicer and newer home in Southaven/Olive Branch. I realize MS has state income taxes, but I've been used to paying that in Ohio all my life......to me being able to get a much better house for the same money is a higher priority. I am also wanting to be in a school system with a good band program, and I was able to watch some videos of Desoto Central High School marching band.....they looked very good, and reminded me of the band I was in back in high school. Desoto County just seems right for some reason.

Quote:
Originally Posted by tigerphan View Post
At that price point, the nicer suburban areas closer to the East Memphis area and downtown are out of the question. I think 5 years would mean you'd barely break even (after counting closing costs, realtor fees) is more likely even in the most stable areas. Houses for that price in Collierville or Germantown are going to need some serious work, so I'd avoid that unless you are comfortable with having to pay for upgrades.....but it may be worth looking into deals. There are a couple of places out there where a smaller home (with a smaller lot though) may be had for $160,000.

I'll do my best here with the recommendations. For reference, here is a map of the reserve areas for annexation: http://www.cityofbartlett.org/Docume...r/Home/View/44

Southwind - Very nice, seems to be aging well, but Hacks Cross/Winchester has an aweful lot of traffic. On the other hand, you'd be getting a nice 20-30 year old home with a tree shaded lot and plenty of space. Hard to beat if you work at Fedex....although I think you may have trouble finding a good selection of homes in your price range there. Many are 4 bedrooms or larger.

Cordova - Annexed by Memphis, but the areas east of Germantown Road seem to be doing okay. The area closer to Wolf River near Walnut Grove is actually doing very well. The annexation issues seem to be priced into more listings today than ones 5 years ago. I think it's a much safer buy today than it has been for a long time.....and so long as you can tolerate traffic on Germantown road, I think this area will be fine for at least the next decade if not longer. There are still many undeveloped tracts between Germantown Road and Houston Levee that will bring new homes, businesses, etc. The downside is school quality- so I would be a very aggressive negotiator if considering a home in this area.

Bartlett - Bartlett is a fine area, with a mix of 3 and 4 bedroom houses. Without kids, you really don't need much space. There are a number of 3 bedroom (and sometimes smaller) homes to choose from but Id' consider something more family oriented to make it easier to sell. With the new municipal schools, it's possible that the home values for properties in good districts may go up or at least remain stable in Bartett for the next decade IMO. Low crime and lots of nearby shopping and restaurants, and not all that far from downtown depending on where you choose to live.

Walnut Grove - Depends on where....out towards Forest Hill and Sanga in the southern Cordova area, there are a lot of newer, nicer homes in that price range. Some of the housing along Forest Hill south of Walnut are very expensive though. This area is doing very well and is near Cordova and two very good private schools along Houston towards Collierville. If you were talking about the area around Highland, then you will probably get an older home that may need work- and you'd be in a nice area with easy access to mid town, east Memphis, and downtown, but fairly close to declining areas north of Cooper and around Holmes/Walnut. I actually think the Highland/Walnut/High Point Terrace area is a neat part of town....if you go that route, stay as far east of Holmes as possible.

Southaven - Great choice, but lots of traffic and Mississippi has state income taxes and funky car registration taxes. There are plenty of houses in that price range- some are in very nice areas with large lots like you wanted. My wife and I came very close to buying in the area south of Snowden Grove a couple of years ago....I recommend that area for Southaven.

Olive Branch - Also a great choice. I think homes are a little more expensive there because the public schools are slightly better, but I think it's the nicest part of Desoto County. The drawbacks are traffic on Goodman Road and having to take Lamar avenue into the city.

I'd also strongly consider Arlington if your place of employment is on the eastern side of Memphis. It's a little far out, but the home prices are reasonable and there is a good selection. You are also fairly close to the Wolfchase area for shopping. It's sort of like a small version of Olive Branch but with no income taxes. I think the area will grow significantly in the next decade- both with retail expansiosn and residential developments.
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Old 07-30-2013, 07:44 AM
 
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Arlington seems to be a good value for your money too from what I can tell, and it looks like the schools are highly rated. My only issue would be the commute to the airport area.....looks like it would maybe be about 40-45 mins. I sure would like to save on that income tax if I could though....that could be huge savings. I guess I hesitate too because it seems like the whole school situation is still up in the air.....I know they just voted to form their own districts, but is there a chance that could still be challenged again in the courts and be reversed? Also, even if it's not reversed, seems like there could be turmoil in some of these districts as they have to vote in school boards and other issues.

Sorry, didn't mean to hijack this thread, but it's kind of the same situation I have as well.
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Old 08-05-2013, 09:16 AM
 
680 posts, read 1,031,271 times
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Quote:
Originally Posted by acarsme View Post
I guess I hesitate too because it seems like the whole school situation is still up in the air.....I know they just voted to form their own districts, but is there a chance that could still be challenged again in the courts and be reversed? Also, even if it's not reversed, seems like there could be turmoil in some of these districts as they have to vote in school boards and other issues.
I'm sure they'll be challenged, but the law is clear at this point. I don't think it will be overturned. It is legal in Tennessee for municipalities to setup their own school, and the voters in those areas overwhelmingly support it.

Shelby County schools (merged) started classes today.
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