A friend of mine has a house for sale over there and the Zillow ad looks good. It looks priced appropriately. But they aren't getting ANY action. Are there any meta factors in that part of town that could be hurting them?
Do you have an address. I have no idea where you're talking about.
I am afraid to get the thread deleted. Its the area back off of Yates and Walnut Grove.
On the whole that's a nice area and not much not under contract there. I think I see his house and it appears he started trying to sell in early 2019, took it off market after about 6 months with no price drops, listed with a new agent in Mar 2020 for 150k less, dropped price two more times and is still available. His price range in Memphis can be a challenge and buyers There pretty picky. Nothing significant jumps out to me but a buyer seeing how high he started and how much the price has dropped they may just think if they wait a little longer it would be a price that would allow the new buyer to make some changes to interior decor to match their preferences. I'm not a residential broker but have spent a lot of time over the years to learn as much as possible about residential buyers. This property is more than I could ever hope to pay for a house so I can only really comment based on what I've recently been looking at in the $350k-$400k range which is a really sweet spot for buyers in Memphis right now. This market in Memphis is the craziest I've seen since returning to Memphis in 1991 with properties going under contract just days after being listed and most of them closing. I don't know what he can do with it having been on the market for so long. I hope this has helped a little.
@Cherie Ganesh I think your analysis of the buyer's mind has a lot of truth in it. But I suspect you guessed the wrong house. :)