We have discussed housing absorption rates in previous posts. The “if you build it, they will come” mindset for Downtown Memphis Condo development has created a glut of units available, currently under development, or in the pre-sale stage. The scrapping of the upscale Mirabella Condo Project (prices starting at $600K) may be only the first […]

Seeing more For Sale Signs? Well maybe not yet, but you will notice more once the visual overload of the political campaign signs come down in a week or so. Inventories of homes continue to grow, and few buyers out there are looking for good deals. Competition is about to accelerate. For many home sellers […]

More in other real estate markets than in this market, we hear the term absorption rate used as an indicator of market strength. The absorption rate is simply the number of units sold in a given period in a given area, ie: in the last year, x units were sold in zip 38104. To look […]

I am continually amazed at the widespread criticism of real estate commissions. I would like for the critics to remember that a lawyer who wins a civil case for his client usually gets 33% of the judgment. Managers of musicians get 15-25%. In the world of fine arts the galleries/management take 30-50%. Mssrs. Levitt and […]

I shop online extensively. There are many online opportunities for shopping for real estate. Over 90% of my homebuying clients shop for homes online on my site, one of the national real estate sites, or a company real estate site like Crye-Leike’s. My listing clients expect to have their listings prominently posted on the web. […]

The retailer has far too many units of a product in his inventory. Last year, he only sold 10 widgets, but he now has 20 in inventory. Based on last year’s sales and prices, it would take 2 years to sell those widgets. He can’t return the widgets. He needs some cash flow, and the […]

Back in the late 1940s and early 1950s Lustron homes were sold at fairs and trade shows. The all metal, pre-fabricated homes were complete kits, ready to be assembled on your slab. While Memphis once had a number of these homes, there are only 2 remaining, and I just happen to have one listed. For […]

We real estate brokers must make it look really easy. Over the very recent years the number of licensed real estate agents in the Memphis Area Association of REALTORS has jumped from around 3000 to over 4800. There must be some draw to get folks to take the classes, pass the test, pay the fees, […]