According to an ad in today’s Commercial Appeal, J.P. King Auction Company will auction 44 condominiums at the River Tower at South Bluffs (we old timers still call it the Rivermont), with 11 units selling absolute. The sale is being billed as an “Inventory close-out”. Auction date is Saturday, June 21, at 11AM. This type of auction is fun to attend, whether you are planning on buying or not. If you have never been to one, this one should be very interesting.
Failed Condo Development, the Glenmary, has a new identity and owner. Read Eric Smith’s Article at http://www.memphisdailynews.com/editorial/Article.aspx?id=36691.
Earlier in the month I posted Memphis residential real estate sales results for January-February, 2008 compared to the same period in 2007. I just found out that MAAR (Memphis Area Association of REALTORS) is posting comprehensive sales figures, including sales, median sales price, average sales price, average days on market, pending and active listing information, types of financing, year-to-year comparisons, sales inventory breakdown, active listings graph, and sales details for 17 specific areas in the Greater Memphis Area. Just about anything a real estate stats nerd would want. Wow, I may never have to use that spreadsheet on Google Documents again. Check out the February Report for the no-spin version of what is happening in the market.
If you are considering buying or selling or know someone who is, call me.