Wednesday, March 22, 2006
"Poet's Corner"
In my last post I mentioned a neighborhood that never "took off". Let me state that I do not have any properties listed there at this time. With that being said let me begin by describing this neighborhood. This project was started in 1991 with the developer(Bob Thurmond) working with the city of Dyersburg and other government officials to start this zero lot line , low priced subdivision. Bob was the owner/operator of R.C.Thurmond lumber company in Dyersburg. So guess where all the materials came from to build these houses. This also kept the costs down. This was the last low price affordable neighborhoods developed in Dyersburg(first house built 1992). Low price does not mean cheap or poor construction as the homes are very well built.
Basically the homes plans consist of 5 different models ranging from heated square feet of 1025' to 1196' with some of the plans reversed to change up the homes. None of these plans include covered parking. The remaining lots(about 15) were bought by another company that also bought the lumber company. The lumber company has since been shut down but that company just completed 5 new houses in this subdivision with the first of these five just selling for $71,000(with seller paying some closing costs).
The reasons I believe this neighborhood never "took off" are as follows. First, this neighborhood was set right in the middle of several really old cheaper neighborhoods. Also, none of the houses had covered parking. If someone can afford to buy a car and a home, they want covered parking.
The first houses sold around $60,000 and the last new house sold for $71,000 so as you can see there is not much increase in price. If you put these houses in another neighborhood such as "hillside" the homes would be worth $80,000.
Currently there are existing homes(for sale) some listed and some unlisted for $57,000 and up.And, the other 4 new homes are listed currently for $67,900(a real bargain).
Because of the huge home demand currently in Dyersburg in all price ranges, this neighborhood will shortly be experiencing the same rise in demand and property values as other neighborhoods. For a person moving to Dyersburg wanting a 3 bedroom 2 bath home in the 60's this is the place for them. I have sold several homes in this neighborhood and know this market very well. This area is in southeast Dyersburg. If you want to see the exact location go to mapquest and plug in the address of 1410 Keats Street, Dyersburg,Tennessee 38024
For you Poet's corner residents, demand is about to take off and for you people looking for affordable housing you better hurry before these good deals are "gone".
Basically the homes plans consist of 5 different models ranging from heated square feet of 1025' to 1196' with some of the plans reversed to change up the homes. None of these plans include covered parking. The remaining lots(about 15) were bought by another company that also bought the lumber company. The lumber company has since been shut down but that company just completed 5 new houses in this subdivision with the first of these five just selling for $71,000(with seller paying some closing costs).
The reasons I believe this neighborhood never "took off" are as follows. First, this neighborhood was set right in the middle of several really old cheaper neighborhoods. Also, none of the houses had covered parking. If someone can afford to buy a car and a home, they want covered parking.
The first houses sold around $60,000 and the last new house sold for $71,000 so as you can see there is not much increase in price. If you put these houses in another neighborhood such as "hillside" the homes would be worth $80,000.
Currently there are existing homes(for sale) some listed and some unlisted for $57,000 and up.And, the other 4 new homes are listed currently for $67,900(a real bargain).
Because of the huge home demand currently in Dyersburg in all price ranges, this neighborhood will shortly be experiencing the same rise in demand and property values as other neighborhoods. For a person moving to Dyersburg wanting a 3 bedroom 2 bath home in the 60's this is the place for them. I have sold several homes in this neighborhood and know this market very well. This area is in southeast Dyersburg. If you want to see the exact location go to mapquest and plug in the address of 1410 Keats Street, Dyersburg,Tennessee 38024
For you Poet's corner residents, demand is about to take off and for you people looking for affordable housing you better hurry before these good deals are "gone".
Friday, March 03, 2006
Demand for homes in Dyersburg area at fast pace!
Here it is Friday March 3rd and the Dyersburg area real estate sales market is booming. We are having a hard time keeping inventory to sell. New homes being built are not keeping up with the demand and this is driving up the demand for existing homes.We have 4 phone lines in the office and not enough agents to answer all the calls.
My agents and I are extremely busy showing clients homes and writing contracts. Alot of this business is from out of town people but there is also alot of local people stepping into the market to upgrade.
With this being said, can you still find a good deal? Absolutely!! There are some houses and properties that are still available at great prices; just overlooked for one reason or another. I have two properties to mention that are great deals. The first is a house on 5 acres with a barn(just outside of Trimble) The reason this is still available is we had a contract fall thru because of their house in Florida not selling. This house is listed on my personal website(link over on right) under the button "Deal of the month". The other bargain is the house on Sir Lionel in Dyersburg. This is only a few years old and the only bargain priced home in the neighborhood(fairly new area). Please hit my personal website to learn more about this property. It is priced to sell at $107,900(owner got transferred).
Please come back in a few days. I plan on discussing a neighborhood started in 1992 that just never "took off". I do not have any properties listed there but plan to work on that as I feel the homes there are poised to take off just like the rest of the Dyersburg real estate market. Please return for our discussion.
My agents and I are extremely busy showing clients homes and writing contracts. Alot of this business is from out of town people but there is also alot of local people stepping into the market to upgrade.
With this being said, can you still find a good deal? Absolutely!! There are some houses and properties that are still available at great prices; just overlooked for one reason or another. I have two properties to mention that are great deals. The first is a house on 5 acres with a barn(just outside of Trimble) The reason this is still available is we had a contract fall thru because of their house in Florida not selling. This house is listed on my personal website(link over on right) under the button "Deal of the month". The other bargain is the house on Sir Lionel in Dyersburg. This is only a few years old and the only bargain priced home in the neighborhood(fairly new area). Please hit my personal website to learn more about this property. It is priced to sell at $107,900(owner got transferred).
Please come back in a few days. I plan on discussing a neighborhood started in 1992 that just never "took off". I do not have any properties listed there but plan to work on that as I feel the homes there are poised to take off just like the rest of the Dyersburg real estate market. Please return for our discussion.
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