Commercial Real Estate in Memphis and our Galaxy

Memphis based Crye-Leike, Realtors

Commercial Property Affiliate Broker Will Hicks

Completes Commercial Real Estate Course (CCIM)

MEMPHIS, TN.– Crye-Leike, Realtors Commercial Real Estate Affiliate Broker Will Hicks has successfully completed the Financial Analysis for Commercial Investment Real Estate (CCIM, CI 101) in Nashville.

“This course is part of the curriculum toward earning the designation of a Certified Commercial Investment Member (CCIM),” said Hicks. “The CCIM is an invaluable resource to the commercial real estate owner, investor and user and is among an elite corps of 86-hundred professionals who hold the CCIM designation across North America and more than 30 countries.”

Hicks’ works with buyers and sellers of business and investment real estate in and around Shelby and Desoto counties. He is a member in good standing of the National Association of Realtors, Tennessee Association of Realtors and Memphis Area Association of Realtors in which he serves on the Member Services Committee.

“Recognized for its preeminence within the industry, the CCIM curriculum represents the core knowledge expected of commercial investment practitioners,” said Hicks. Read more »

Someday, I’ll be able to check the news without hearing about our own Kennedy-lite family. Here’s the real estate related Ford family news, whether you like it or not. Check out this news story, and then check out the (conspiracy?) theory about “the rest of the story”.

From the Commercial Appeal:

Memphis City Councilman Edmund Ford may be able to keep his mortuary in its Whitehaven home after all.

His landlord, Dennis Churchwell, had threatened to auction off the 5.8-acre property on Elvis Presley because of its notoriety. It’s where Ford was allowed to rack up a five-digit Memphis Light, Gas and Water Division bill, touching off a scandal that led to the resignation of the utility’s president.

But after the live auction Saturday afternoon, the property’s only bid came from a lender of the Supreme Lending Group in Memphis, who offered Churchwell $750,000 to purchase the property on Ford’s behalf…

Read more »

The little letter to the editor I wrote last week was published in Friday’s Commercial Appeal. Here is the official version.

Real estate commission’s a bargain

The writer of your May 16 letter “Not the business of legislators” repeats the familiar cry: “Sell real estate by yourself and save thousands in commissions.” That would be great if it were true.

From July 2005 to June 2006, the median price of an agent-assisted home sale in Memphis was $212,000. The median price of a home sale by an unrepresented seller was $166,000. That’s a difference of $46,000. Figuring a good agent will cost you 7 percent of your $212,000 (about $15,000), you’re better off by $31,000 using an agent. Everyone wants to save money, but being a “do-it-yourself” real estate agent is no better than being a “do-it-yourself” lawyer or doctor.

Will Hicks

Memphis

From the Commercial Appeal:

The Tennessee legislature approved a bill Monday banning brokers from giving rebates, gifts or prizes in a real estate transaction despite a strong, rare warning from federal antitrust lawyers that it is anticompetitive and will “cause serious harm to home buyers and sellers.”…

Realtors across Tennessee support the ban on rebates, gifts and prizes — and thus the bill. They argue that repealing it would hurt consumers, not help them. The Memphis Area Association of Realtors was one of several Realtors’ groups that wrote letters to the commission opposing a repeal of the ban. Read more »

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I promise I don’t read Parade magazine. I wouldn’t have known about this if another guy in my office hadn’t tipped me off.

Parade Magazine has their annual “What People Earn” issue this week. Every year they have 70 or 80 headshots of people from across the country with their name, job description, and what they made last year. The subjects run the gamut, from Steve Carell of “The Office” fame ($9 million) to Gary Fearn, a minister from Pueble, CO ($9,000).

While interesting, the reason I got a text message on a Sunday afternoon about this was the inclusion of one of our own in the magazine. Crye-Leike Commercials’ own Tucker Beck has a headshot in Parade Magazine. I’ve got a scan of the whole page after the jump. (This is probably the only place you’ll ever see Tucker and Maria Sharapova together).

Read more »

Don’t let people tell you the residential market’s bad.

From the Commercial Appeal:

Although the median price of a house in Shelby County is a modest $127,000, the number of houses priced 10 times that amount has increased substantially during the past five years in the Memphis area.

In 2001, the Memphis Area Association of Realtors reported 17 homes worth more than $1 million sold in the Memphis area. By 2006, the number of million-dollar houses sold rose to 73. Read more »

Read more »

What are the best places around town to meet with clients and get deals made? Steakhouses? Mexican? Sushi? Lunch and Dinner options needed. Help me, gentle reader.

I’ll put together a proper list once I get enough recommendations.

I don’t know how I missed this, but Jerry West just put his home up for sale. The article was in the Commercial Appeal, but I didn’t hear about it until I read it in Cameron Maness’s blog.

I understand that in the last three years only 6 homes in this market have sold for over $3M. You can be LUCKY # 7!!! Give me a call today to buy your dream home!

Someone tell me why Cameron’s trying to be a buyer’s rep for a house.

Here’s an excerpt from The C.A.

Memphis Grizzlies president of basketball operations Jerry West is selling his 15,000-square-foot Southwind home, fueling speculation that “the logo” is gone after this season, one of the worst since the team arrived in Memphis. Read more »