Mortgage Trends & Lending Analysis There were 461 residential loans filed at the time of sale in February, up 2% from last year. The average mortgage amount was up 6% to $168,875 with an average sales price of $193,969 making the average loan to value ratio 87%. Collierville (38017) had th
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03/09/2015
New Housing & Builder Activity New home sales were up 20% in February with 59 sales recorded for the month compared to 49 recorded last year. The average sales price of a new home was $254,857 virtually unchanged from last February Arlington/Lakeland (13), Collierville (10) and Southeast S
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03/09/2015
Residential Foreclosure Analysis Residential foreclosures were down 34% in February with 171 recorded compared to 261 recorded last year. The average amount of a foreclosed property was $77,604 and the average tax appraisal value was $107,099. February foreclosure activity was down in v
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03/09/2015
Commercial Sales January 2015 commercial sales were down 27% from last year with 74 recorded for the month compared to 101 recorded in January 2014. Average sales prices were up 40% to $2.2M compared to $1.6M resulting in total sales revenue being up 2.6% from last January. Retail (21), M
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03/09/2015
Home Sales Memphis and Shelby County home sales were down 6% in February with 924 sales recorded for the month compared to 980 recorded in February 2014. Average sales prices were up 22% to $150,371 compared to $123,722 last February. Total revenue for the month was up 15% from last ye
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03/09/2015
When something has the quality of being of uniform throughout in it's composition or structure or has the quality of being similar or comparable in kind or nature we call it homogenoeous. Land has some of this quality. Land is indestructable and immobile. Parcels of land share some of this homoge
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03/09/2015
A man is building a deck on the rear patio slab of his new home. He has just purchased the lumber which he needs to build the deck. The lumber has just been delivered by the trucking company and left in the driveway for him. Is the lumber considered to be real property (property to be affixed to
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03/09/2015
When considering the concept of real estate, most of the follwing would be included in the sale of a parcel of land except which of the following items ? 1. Air Rights above the property 2. The rights to the trees 3. The rights to the mineral substance below the surface of the land 4. The annual
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03/09/2015
When a buyer purchases a parcel of land and turns around and negotiates the sale of the oil rights to a petroleum refinery or mineral rights to a mining group what kind of right is the buyer rescinding to the buyer of the mineral or petroleum company ? Take your time. The solution is posted below
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03/08/2015
A man owns a building in a commercial section of the community. The man has a tenant that rents space in the property that he owns. The tenant operates a beauty parlor. The tenant has installed display shelves. These are fixtures fastened to the walls which house beauty products for sale to her c
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03/08/2015
