29 y/o Caucasian moving to Memphis from California (Germantown, Collierville: for sale, real estate)

[Gcliment27]

Hello All,

I am a young single guy who is transferring out to Memphis to start-up a new plant for my company. Ive been doing a ton of research and figure I would post on here to see what I get back. Our plant will physically be in Southaven Ms, but I would rather live in Tn.

Ive been looking into the gated area of TPC Southwind and love the homes I see. Ive also looked into the Riveredge area of Cordova. Collierville is attractive to me but Im a little worried about how far out east it is and I cant seem to find a home that I like there. Ive been looking by Memphis National GC.

Im looking to spend up to $450k but after reading a lot of these posts I wonder if its not just a better idea to buy something closer to the $300k range in a decent area because it seems like all of the nice area's deteriorate.

Im also looking for advice on the diversity aspect of the areas.

Thanks!

[CristenS]

$450k will get you into the most elite areas here. Is that what you want? Pricing is so different compared to other areas of the country - I know in some places $450k is normal for an small average home.

If you are spending that much money, do NOT mess with Cordova. Just stay away. Plus it's a long drive for you.

Other than your work, what other things are relevant? Kids/schools? Things to do on weekends? Parks? Suburbs for sure? Do you prefer to be sort of closed off from things (a gated community in the burbs) or would you prefer to be in the heart of things?

For your price range you can find anything you want in any area of town. As for diversity, what are you looking for? You want a lot of diversity? As you can guess, you'll find little diversity in gated Southwind, for example, compared to other areas of the city.

[jabogitlu]

You mentioned deterioration, so you might be thinking of resale value. By far the biggest motivator here of ANY kind of real estate is the school district it's located in. Neighborhoods zoned for Germantown City and Collierville City Schools will likely not lose any value barring some unforeseen anomalies.

Homes in classic East Memphis neighborhoods will generally also be solid and have good resale. It's always a good idea to have a trusted realtor OR run any addresses (or nearby identifiers, like intersections) by the folks on this forum. Sometimes, addresses will be publicized as "East Memphis" when they are actually Hickory Hill, or Nutbush, or some other less desirable neighborhood.

And finally, Midtown will offer decent homes in the $250k-$500k range that could suit your needs.

If I were buying a house in Memphis within your budget, I would never ever mess with the area around TPC Southwind (unless it's actually inside the current Germantown City Limits) or Cordova. A good rule of thumb in Memphis is to either buy in a historically solid 'in town' neighborhood (like East Memphis, or Midtown's Central Gardens or Evergreen or Cooper-Young) or get inside the suburbs themselves. Suburban City of Memphis is a funky and shifty investment.

By diversity, do you mean black population? Or some other measure?

[Comingtomemphis]

You might begin by looking at a map to figure out your most likely, and speedy, commute. If you are close to I-55, then driving to Downtown should be pretty easy, and pretty quick, from Southaven. As a single, young guy, you might enjoy the restaurants, bars and social life Downtown.

As far as housing options, you could buy a SF house in South Bluffs, or on Mud Island. You could also look at condos, of which there are quite a few. Check out 717 Riverside, a condo building just being completed (after a hiatus) that is right off of I-55. There a several SF houses for sale in South Bluffs, a gated community, that would also be convenient, and which have held their value quite well.

[Gcliment27]

Thank you all for the feedback. I currently own a condo in the SF bay area and would like to have something with a nice yard when I move. I have no kids but would not mind living in the suburbs.

Im totally fine with diversity as SF is very diverse, Im just curious about how certain areas handle the diversity.

[pignchick]

Welcome to Memphis. I moved here as well. I would recommend that you consider Germantown or Collierville if you plan to have children and want to send them to public school. Germantown is the more established of the two and has a more city feel. Germantown also cannot expand, so I think Germantown is the best bet for resale value. Collierville is a more spread out city and can still has some annexation reserve land (so it might sprawl more, plus they have a lot of undeveloped land).

If you don't plan to have children or you plan to use a private school, I would highly reccomend East Memphis. Most of the great private schools are in East Memphis. There are also a lot of escluseive areas in East Memphis. Plus East Memphis is the easiest place to commute from as you can easily access 240.

Midtown or South Main are also nice and up-and-coming areas if you are single and like the more eclectic hipster condo/apartment/fixer-upper home lifestyle.

I would agree with the poster above to skip Cordova. This area is on long slow decline. It's still livable, but why choose it when there are so many better options, especially with your budget.

Another thing to consider is your commute. I personally would try to be close to 385/240 or have easy access to it.

As for diversity, Memphis is one of the most African American cities in the USA. Most of south and north Memphis are predominately African American. Other areas like East Memphis, Germantown and Collierville are predominately Caucasian. Other ethnicities are also represented but not to the extent of SF.

Best of luck

[CristenS]

It seems odd that you'd go from a condo in San Fran to a giant mansion in Southwind. Or anything in the suburbs, honestly. Unless you are looking for a complete 180 and change of lifestyle.

Homes in the city, whether it be more urban midtown, or more family style east Memphis, all have big yards. You don't have to live in the burbs to have a yard. It is completely up to you, but just saying - it's a big shift to go from a condo in SF to some McMansion in the family-centered burbs. Generally speaking, people who live in the burbs have kids or are planning to have kids soon. You don't really see single men living in the burbs. Nothing wrong with it, but you'd be sort of an anomaly.

Here are some examples "in the city" that are in your price range. These may not be your decor style, but it shows the size of home and yard you can get. FYI you will pay much cheaper property taxes if you are in a suburb vs city of Memphis - something to consider.

Midtown:
http://www.realtor.com/realestateand...22-75694?row=1
http://www.realtor.com/realestateand...37-44089?row=1
http://www.realtor.com/realestateand...75-50673?row=1
http://www.realtor.com/realestateand...39-08670?row=1

Mid-east Memphis:
http://www.realtor.com/realestateand...41-97555?row=1
http://www.realtor.com/realestateand...39-85087?row=1
http://www.realtor.com/realestateand...34-55753?row=1

East Memphis:
http://www.realtor.com/realestateand...29-12774?row=1
http://www.realtor.com/realestateand...76-49537?row=1
http://www.realtor.com/realestateand...05-33814?row=1

Very East/border of Germantown:
http://www.realtor.com/realestateand...71-11242?row=1
http://www.realtor.com/realestateand...35-13291?row=1

[jabogitlu]

If you like your current lifestyle, I would look in downtown/South Main/South Bluffs. There are even a few developments with little yards. Honestly there are lots of neighborhoods we could suggest, even Uptown. I think you should move here and rent an apartment for six months or a year then you can make the bigger decision.

[Gcliment27]

How is the area near Memphis National Golf course? Is it called Levee Oaks? Im looking at a few homes on the course, as well as a few on TPC Southwind.

[Gcliment27]

Ive decided that I like Halle Plantation best out of everywhere Ive seen. Any criticism's of the area?