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Editorial Results (free)

1. Knowledge Tree Buys Cordova Retail Center -

8195 Dexter Road
Memphis, TN 38016
Sale Amount: $1.3 million

Sale Date: July 8, 2014
Buyer: K Tree LLC
Seller: 8195 Dexter Road LLC
Loan Amount: $1.5 million
Loan Date: July 11, 2014
Maturity Date: N/A
Lender: First Tennessee Bank NA
Details: An affiliate of the Knowledge Tree learning center has paid $1.5 million for the 28,575-square-foot shopping center at 8195 Dexter Road in Cordova.

2. This week in Memphis history: November 29-December 5 -

2012: The Yorktown, a 257-foot cruise boat, left Memphis after a two-week stay on the Memphis riverfront because of Hurricane Sandy on the Atlantic Coast. Sandy caused the cruise ship to arrive in Memphis a week early. Meanwhile the Grand Caribe cruise ship was due the second week in December. The Queen of the Mississippi was in Memphis that Nov. 24 in advance of 24 scheduled stops in Memphis in 2013. The American Queen, the world’s largest steamboat, was due in its homeport of Memphis that Dec. 2.

3. MAAR Presents 2010 Realtor Awards -

The Memphis Area Association of Realtors has named Mary Sharp of Crye-Leike Inc. Realtors as its Realtor of the Year.

4. Shadows of Doubt -

As the housing market continues to improve, a significant backlog of foreclosed and distressed properties that have not been put on the market could bring the recovery to a screeching halt.

Many lenders across the nation – mostly banks – are struggling to keep up with the overwhelming number of borrowers who have stopped making their mortgage payments. And with the fledgling recovery in housing still weak, banks, institutional investors and even some homeowners who want to sell their homes are waiting until the market shows marked improvement.

5. Agent Launches New Realty Board -

Five months after clashing with the Memphis Area Association of Realtors, real estate agent Larry Mayall has formed an independent realty organization.

Mayall, of First National Realty Inc., earlier this month launched the Mid-South Real Estate Board, which he touted as a trade association for real estate professionals who don’t want to become members of the National Association of Realtors.

6. Bank Sales Slip As Housing Market Rebounds -

People who sold their houses benefited more than banks from the final months of the homebuyers’ tax credit in Memphis, where overall sales during the second quarter of 2010 rose 7 percent from a year ago.

7. MAAR Launches Redesigned Website -

The Memphis Area Association of Realtors this week unveiled a redesigned website, www.maar.org.

The site, according to the organization’s press release, features an “enhanced ‘front door,’ or home page, that is easier to navigate and has a fresh design.”

8. US Home Sales Tumble as Tax Credit Expires -

Sales of new homes plummeted in May, falling 31 percent locally and 33 percent nationally as potential homebuyers scurried from the market once the homebuyers tax credit expired.

The nosedive created concerns that the housing market will endure a “double dip,” with sales numbers showing significant declines for the second time since the recession first hit.

9. US Home Sales Plummet in May as Tax Credit Expires -

Sales of new homes plummeted in May, falling 31 percent locally and 33 percent nationally as potential homebuyers scurried from the market once the homebuyers tax credit expired.

The nosedive created concerns that the housing market will endure a “double dip,” with sales numbers showing significant declines for the second time since the recession first hit.

10. May Home Sales Up 3 Percent -

May brought torrential weather to the area with an onslaught of storms and flooding, but it also delivered a torrent of home sales, generating Shelby County’s most productive month since last fall.

11. Tax Credits Fuel 6 Percent Rise in April Home Sales -

WASHINGTON (AP) – A rush of homebuyers aiming to meet a deadline to qualify for a federal tax credit pushed the number of signed sales contracts to the highest level since October.

The National Association of Realtors reported Wednesday its seasonally adjusted index of sales agreements for previously occupied homes rose 6 percent in April from a month earlier to a reading of 110.9. March’s reading was revised upward to 104.6.

12. Home Sales Decline in April but Market Leaders Optimistic -

Real estate professionals won’t call April’s home sales disappointing, but with all the buzz surrounding the homebuyers tax credit that expired at the end of last month the final tally was underwhelming to say the least.

13. Home Sales Inch Up in Q1 -

This past weekend the Memphis Area Association of Realtors hosted a citywide “open house” along with Realtor associations across the country.

The event, which spotlighted hundreds of homes for sale throughout the area, was designed to increase sales as the homebuyers tax credit approaches its April 30 deadline and also give the industry an overall spark before the busy summer season.

14. Madness Comes to March Home Sales Totals -

“March Madness” refers to the frenzy of college basketball from coast to coast each spring, but the term might also be applied to the local real estate market, which last month saw an impressive flurry of home sales.

15. Open House Push To Close Out Tax Credit -

The countdown is on for the homebuyers tax credit.

With the April 30 deadline in exactly five weeks – or 25 business days – the real estate industry is kicking into high gear in hopes of drumming up sales.

16. Former Orgill Distribution Center Sold Following Foreclosure -

2108 Latham St.
Memphis, TN 38109
Sale Amount: $2.5 Million

Sale Date: March 9, 2010
Buyer: NW-2100 Latham Street LLC
Seller: Bradley Ottinger, trustee

17. Bed Bath & Beyond Owner Files $2.9M Loan -

KIR Memphis BBB LP, the owner of the Bed Bath & Beyond store at 2810 N. Germantown Parkway, has filed a $2.9 million “deed of trust, security agreement and fixture filing for commercial purposes” through Protective Life Insurance Co. on the property.

18. Home Sales Rebound Despite Weather Obstacles -

February, the shortest month of the year with only 28 calendar days, is at a natural disadvantage when it comes to home sales.

Toss in this past February’s record cold temperatures coupled with winter storms wreaking havoc on the area, and it probably wouldn’t surprise anyone to see the housing market suffer yet another slow period.

19. A subtle improvement -

From declining sales to falling prices, the housing industry has been hammered recently, and nowhere is that more evident than in Memphis Area Association of Realtors membership numbers.

MAAR, the local trade organization for real estate professionals, has seen its membership dwindle steadily since its high point in August 2007, when it boasted 5,406 members. The latest numbers show membership at just 3,797, a 29.8 percent decline from its pinnacle two and a half years ago and the lowest point since 3,943 in February 2004, the last time it sat below 4,000.

20. New York Company Buys 158-Unit Greenview Estates in Raleigh -

4650 Hedges Drive
Memphis, TN 38128
Sale Amount: $3 Million

Sale Date: Dec. 17, 2009
Buyer: Greenview Estates LLC
Seller: Greenview Townhomes LLC
Loan Amount: $2.1 million
Loan Date: Dec. 17, 2009
Maturity Date: N/A
Lender: Bloomfield Institutional Opportunity Fund LLC

21. MAAR Prez: Stage Set for Better Home Sales -

2009 went into the books as the worst year for home sales in 18 years, but a slight improvement in the final quarter signaled a sliver of hope for a beleaguered real estate industry.

Shelby County saw just 14,600 home sales last year, an 11 percent decline from 16,406 home sales during 2008 and a 29 percent decline from 20,706 home sales during 2007, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

22. Moore Ascends To MAAR Presidency -

When Glenn Moore was growing up in the Longview Heights community of South Memphis, he and his dad would spend Sunday afternoons driving around the city checking out new housing developments.

23. Home Sales Outpace Nov. ’08 Performance -

For the first time all year, Shelby County’s home sales outpaced the same month of 2008, perhaps signaling an end – or at least the beginning of the end – to the local housing slump.

November notched 1,154 sales, a 17 percent improvement from 983 sales in November 2008, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

24. Stars Start to Align In Residential Real Estate Market -

The first week of November brought a double dose of good news for the beleaguered real estate industry. Not only did Congress extend and expand its first-time homebuyers tax credit, but the most recent local sales report was peppered with positive signs.

25. Q3 Home Sales Up Slightly From Q2 -

Of all the real estate figures floating around, perhaps the most telling is the one showing shrinking membership in the Memphis Area Association of Realtors.

MAAR, the trade association for local real estate professionals, saw its lowest member total in more than five years during the third quarter of 2009 (July through September).

26. Deadline Looms For Homebuyers’ Tax Credit -

To extend or not to extend? That is the question.

At least it is for real estate professionals, who have their eyes on Nov. 30, the date when the $8,000 first-time homebuyers federal tax credit is set to expire.

27. Housing Market Takes Shallow Dip in Q2 -

Regina Hubbard is one of the local Realtors who saw the challenge of a down market as an opportunity. Instead of hunkering down or following business-as-usual practices, Hubbard reacted to the housing slump with renewed vigor.

28. Hope Emerges from June Home Sales -

The traditionally busy summer home-buying season got off to a slow start with June sales well off the mark from the same month a year ago.

But signs of life also emerged, as June notched the second highest sales total of 2009, a handful of submarkets enjoyed modest growth during the month and foreclosure sales waned.

29. 2008: Year to Forget in Real Estate -

Of all the real estate storylines from 2008, perhaps the most revealing was that bank sales – i.e., foreclosures – accounted for 37.3 percent of the residential market share in 2008, up from 24.7 percent in 2007.

30. Calipari Tapped to Rally Real Estate Community -

For many local sports fans, the lasting image of 2008 was the University of Memphis men’s basketball team suffering a heartbreaking loss to Kansas in the national championship game.

For many local Realtors, the lasting image of 2008 was the housing market suffering a continued slump.

31. Q3 Home Sales Drop 22 Percent -

The real estate market hasn’t plunged as dramatically as the stock market has, but much like the Dow Jones industrial average, housing has seen better days.

The downward spiral continued in the third quarter of 2008 as residential sales declined 22.3 percent in Shelby County compared to the same quarter a year ago, according to the latest numbers from real estate information company Chandler Reports, www.chandlerreports.com.

32. In the Tank -

As gas prices soared to another record high earlier this week, Lorraine Williams plotted ways to minimize her drive time and save some money.

Williams, an affiliate broker for Crye-Leike Inc.’s Bartlett office, had to attend a home re-inspection, buy a housewarming gift for one of her clients and pick up a graduation present for her granddaughter without driving all over the city, so she mapped her errands in the same part of town.

33. Weak Real Estate Market Translates To Poor Bottom Line -

Without polling every Realtor in town or reviewing their tax returns, it's impossible to know exactly how much money each one of them gained or lost in commissions between 2006 and 2007.

But a closer look at industry averages - including 2007's declining home sales - reveals a potentially disastrous income year for real estate professionals as a whole.

34. 2007's Top RealtorsHonored by MAAR -      The Memphis Area Association of Realtors recently handed out awards at its annual gala, including one to John Linthicum of Crye-Leike Inc., who was named 2007 Realtor of the Year. Randy Jefferson of The Hobson Co. Realto

35. MAAR ElectsBoard of Directors -      Members of the Memphis Area Association of Realtors (MAAR) elected five directors to the organization's board at last week's annual meeting.
     The new directors are Bill Maury of Hobson Co

36. University Towers ForeclosureEnds With Last-Minute Sale -      The owners of nearly all the units in University Towers Condominiums barely avoided their property's sale at foreclosure by striking an 11th hour deal for its purchase.
     Arlington, Va.-ba

37. Despite Q1 Sales Decline, Realtors Optimistic About Rest of '07 -

Home sales are down in Shelby County, but most area real estate practitioners aren't concerned. They remain bullish on the Memphis housing market, which is coming off an all-time sales record set in 2006.

38. Former Kmarts, Cordova Shopping Center Have New Options With New Plan -

When New Plan Excel Realty Trust Inc. and Sears Holdings Corp. set up a joint development venture in 2005, the venture's first deal involved transforming three former Kmart stores in Memphis.

Sears had closed the stores in 2005, citing their under-performance. Since then, Sears' partner in its development venture - a New York real estate investment trust (REIT) with assets of about $3.5 billion - has more than lived up to its name.

39. Phillips to Become President of Optometry School -

Dr. Richard W. Phillips has been named president-elect of Southern College of Optometry in Memphis. Phillips is a 1978 graduate of the college and the former regional executive director for Tennessee operations for TLC - Laser Eye Centers. He will be only the sixth person to hold the office in the college's 75-year history. Phillips will assume the presidency May 17. He is replacing William E. Cochran, who is retiring.

40. Give 'Em Credit: Teachers' Credit Union Official Says New Branches Will Keep It Competitive -

New MATCU Branches on
Union Avenue and White Station Road
Project Cost: Not released

Permit Date: Dec. 4, 2006

41. Morman Named Branch Director at MATCU -

Cheryl Morman has been named branch director of Memphis Area Teachers' Credit Union's (MATCU) Central branch. She previously was deposit services manager at Marriott Employees' Federal Credit Union in Bethesda, Md.

42. Just Say No to Payments -

Shelby County is experiencing a continued downward trend in the number of mortgages filed during the second quarter 2006, according to The Daily News Online, www.memphisdailynews.com.

However, some area real estate professionals say they think improvements in technology eventually could help the market rebound.

43. Archived Article -

9050 U.S. Highway 64
Arlington, TN 38002
Cost: $7.2 million

Buyer: CB Associates LLC, CB-MEstate LLC and CB-EMassell LLC

44. Former Kmarts to Be Converted to Retail Centers -

7060 Winchester Road
Memphis, TN 38125
Cost: $8 million

Buyer: NPK Winchester LLC

Seller: Kmart Corp.

45. Archived Article: Memos - Mary A Mary A. Cuyler has been promoted to audit manager of the Memphis office of BDO Seidman LLP. A certified public accountant, Cuyler is a graduate of the University of Memphis. Shannon Kloek of Hnedak Bobo Group Inc. has been elected president o...

46. Archived Article: Memos - Resource Bancshares Mortgage Bruce Clark has been named senior vice president, systems technology and support, and chief information officer for AutoZone Inc. He most recently was chief information officer and senior vice president, telemarketing, f...

47. Archived Article: Lightman Dev - CHG 03-07 Lightman dev. Lightman begins development at Nonconnah, Riverdale Road By CAMILLE H. GAMBLE The Daily News Michael Lightman Realty Co. will break ground this week on a $30 million retail center at Riverdale and Nonconnah Parkway, one of se...