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Posts from June 1st, 2009

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June
1

By early May, the 2-acre yard marred by tall weeds, dead tree branches and leaning fences branded the five-bathroom house in Germantown as a foreclosure.

 

With neighboring homes valued at more than $1 million, the feral yard at 2420 Johnson finally received a rough mow arranged by the city.

 

Germantown charged Florida mortgage firm $325 for the yard work.

 

Sold for an unusually high $1.3 million in 2004, the vacant house has been in foreclosure twice since 2005.

 

But while this picture may fit the stereotype of the national crisis, it is not a typical snapshot of the impact of foreclosures in the white-collar suburbs of Memphis.

 

In communities where protecting home values is practically the prime directive, the Shelby County Assessor's office reports that values in...

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June
1

By Stacey Wiedower, Memphis Commercial Appeal

 

Sunday, May 31, 2009

 

Most couples are content to give roses or chocolates as Valentine's Day gifts. Not Nathan and Kaitlin Metheny. At least not this year.

 

This year, their gift to each other was a house.

 

The couple closed on their Cordova home, in the Lee Line Farms neighborhood near Houston Levee and Macon roads, on Feb. 13 after nearly a year-long search. They purchased the three-bedroom, two-bath, 1,800-square-foot home for $99,900.

 

Ten days before the couple signed on the dotted line, daughter Zoe was born.

 

"I kept telling people we were in a race between baby and house because we didn't know which was coming first," Kaitlin said.

 

So one of the coupl...

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