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".

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