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Editorial Results (free)

1. Improving Real Estate Metrics Offer Hope -

The 2013 countywide reappraisal resulted in a historic drop in property values, but improving real estate metrics are providing a glimmer of hope for the local economy.

That was the message industry professionals heard Thursday, July 25, at real estate information company Chandler Reports’ 2013 Mid-Year Master Your Market seminar at the Memphis Marriott East.

2. Mortgage Rates Sink to Lowest Level on Record -

WASHINGTON (AP) – Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans.

The average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week, mortgage company Freddie Mac said Thursday.

3. Wolfchase Files New Appraisal Challenge -

The owner of the most expensive piece of real estate in Shelby County isn’t finished challenging its 2009 appraisal.

Indianapolis-based Simon Property Group, the owner of Wolfchase Galleria, is filing another appeal of the mall’s price tag, which the Shelby County Board of Equalization in March pegged at $150 million.

4. The Biggest Spenders -

David Simon, chairman and CEO of the nation’s largest public real estate firm, told analysts a few weeks ago during Simon Property Group’s fourth quarter earnings conference call that 2009 was a challenging year. And he doesn’t think 2010 will be much better for the company, which owns two malls in Memphis.

5. Area Malls See Different Reappraisal Results -

When The Avenue Carriage Crossing opened in Collierville in 2005, its open-air, lifestyle center concept was touted as a hot new retail trend that would dramatically reshape the traditional mall experience.

6. Wolfchase Mall Loses Appeal of Higher Property Value -

The most expensive property in Shelby County got even pricier in 2009.

The Shelby County Board of Equalization Monday adopted a $150 million value for Wolfchase Galleria, a 15 percent increase over the mall’s 2008 appraisal of $130 million.

7. Wolfchase Mall Loses Appeal of Higher Property Value -

The most expensive property in Shelby County got even pricier in 2009.

The Shelby County Board of Equalization today adopted a $150 million value for Wolfchase Galleria, a 15 percent increase over the mall’s 2008 appraisal of $130 million.

8. Shelby County’s Malls Fight Tax Appraisals -

In a sign of the rattled state of commercial property owners amid the lingering downturn, the owners of most of Shelby County’s major shopping malls are contesting their 2009 property appraisals.

The new values, which will determine the properties’ tax bills, were sent out earlier this year as part of the 2009 countywide reappraisal of property. The area’s five most prominent shopping centers – Wolfchase Galleria, The Avenue Carriage Crossing, Oak Court, Raleigh Springs Mall and Southland Mall – all saw their appraisals rise this year.

9. CCC Picks Top 10 Landmarks in Need -

Towering 29 stories above the intersection of Madison Avenue and Third Street, the Gothic-style Sterick Building was the city’s premier office building for years after it opened in 1930.

Today, it’s among an updated list recently drawn up by the Center City Commission showing the top 10 historically significant Downtown buildings most in need of redevelopment.

10. Reappraisal Notices To Go Out Friday -

Some of the most expensive pieces of commercial real estate in Shelby County are the area’s shopping malls. Reappraisal notices sent out last week to the mall owners show the degree to which that’s the case.

11. Assessor Prepares For Reappraisal — And Appeals -

As Shelby County assessor of property, Cheyenne Johnson’s job is the equivalent of hitting the bull’s eye on a moving target more than 350,000 times.

Johnson, who was elected Aug. 7 to succeed three-term assessor Rita Clark, is overseeing final preparations for next year’s countywide reappraisal, during which the property values for more than 350,000 parcels of land in Shelby County will be re-evaluated. The reappraisal occurs every four years to reflect changes in the local real estate market.

12. Spring Home-Selling Season Could Disappoint -

NEW YORK (AP) - Home prices plunged by record levels in January from a year ago, with almost no major cities immune from the spiraling market. Analysts worried that even the usually reliable spring selling season would fall flat.

13. Wal-Mart's Low Price Mantra Extends to Tax Appeals -

After the most recent countywide reappraisal of property in 2005 by the Shelby County Assessor's office, Wal-Mart Stores Inc. did what scores of residential and commercial property owners in the Memphis area typically do.

14. Wolfchase Galleria Withdraws Tax Appeal -

A dispute over the appraisal of Wolfchase Galleria, the largest single source of property taxes in Shelby County, is officially over.

Tax representatives for the 1.1 million-square-foot retail behemoth have withdrawn an appeal to the state assessment appeals commission after taking their case before an administrative judge in January. They were working to get the $132 million appraisal for Wolfchase, which is owned by Simon Property Group Inc., nearly cut in half to about $73 million. Simon also owns Raleigh Springs Mall and Oak Court Mall in Memphis.

15. Archived Article: Gov - By Andy Meek

Wolfchase Seeks to Compete Through Tax Breaks

ANDY MEEK

The Daily News

When it comes to regional shopping centers, whats in a name?

Thats a question the Shelby County Assessor of Property Rita Clarks office is trying to a...