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VOL. 133 | NO. 40 | Friday, February 23, 2018

Experts to Discuss Record Highs, Lows at Chandler Reports Seminar

By Patrick Lantrip

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Topics ranging from record high average home sale prices to historic low foreclosure numbers will be explored at Chandler Reports’ annual Real Estate Review.

The 2017 year-in-review seminar will be held Thursday, March 1, from 3:30 p.m. to 5 p.m. in the Goldsmith Room at Memphis Botanic Garden, 750 Cherry Road, and will be moderated by Eric Barnes, publisher of The Daily News and The Memphis News.

This year’s guest panel will include Jason Woods, Community Mortgage branch manager and 2018 president of the Mortgage Bankers Association of Memphis; Gary Thompson, vice president of Boyle Investment Co.; and Dan Butler, business development, CrestCore Realty LLC.

Panelists will provide insights on current market trends and topics that include the impact of investors in Memphis, new housing market recovery, mortgage rates and private lenders, and areas of growth within Shelby County, in addition to offering their predictions for the rest of 2018.

In many ways, 2017 was a banner year for the Memphis housing market, as the average home sales price topped 2016’s then-record high of $158,463 by 5 percent, according to market data compiled by Chandler Reports.

Also hitting a near-high was the volume of home sales, which, at $3.13 billion, was up 13 percent from a year ago, making it the fourth-highest amount ever recorded in Shelby County and the highest since 2006.

On the other end of the spectrum, Shelby County residential foreclosures continued to remain at historic lows in 2017, according to Chandler Reports, with 1,638 recorded for the year – a 17 percent decrease from 1,968 in 2016.

Bank sales, or foreclosure sales, represented 7 percent of all Shelby County homes sold in 2017. The 1,354 recorded bank sales marked a 24 percent decrease year over year, and the volume of bank sales dropped 9 percent to $129 million.

Tickets to the Real Estate Review are $10 for Chandler Reports subscribers and $15 for nonsubscribers and include refreshments and a post-seminar toast to celebrate Chandler Reports’ 50th anniversary.

For more information or to reserve a seat, email wendy@chandlerreports.com or call 901-528-5273.

Chandler Reports is a division of The Daily News Publishing Co.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 23 23 1,365
MORTGAGES 21 21 1,068
FORECLOSURE NOTICES 6 6 196
BUILDING PERMITS 117 117 3,173
BANKRUPTCIES 42 42 795
BUSINESS LICENSES 2 2 331
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0