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Dyersburg, TN Real Estate News

By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
I just had a fellow come in my office inquiring about rentals that I have available. He went on to say that he just got his wife out of the hospital as she was very sick because of mold they just found in their newly bought home. They have only been living there for 1 month. He went under the house and found a water leak that has been feeding mold for quite some time. The mold is covering almost the entire bottom of the house now. Even my termite man would have reported this mold as a potential problem. I asked him if he had the home inspected and he said no. I asked him if the Realtor asked him to buy a home inspection and he said it was a for sale by owner and he did not use a Realtor. Then I asked if the seller filled out a property condition disclosure before they closed on the hous...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
For the last few years, the West Dyersburg Church of Christ has been hosting a "trick or trunk" in our parking lot. Last night we hosted this event and had a record turn-out. Many members of the church set their cars up with the trunks opened and decorated for the holiday. Also in those trunks was candy for the kids. Not only do we do this for our kids but we also invite the community kids as well. After about 30 minutes of the kids going to all the vehicles(many 3-4 times) we then all go inside the family life center for hot dogs, chili, chips, drinks, sweets and games. This lasted well over an hour, then it was time to clean up and we all chipped in and got this done in short order. I took several pictures inside and outside and hope you enjoy!
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
I just came across this cost of living index that was prepared by the Tennessee Department of Revenue. This list compares grocery item prices for the cities of Dyersburg, Jackson and Memphis,Tennessee.  Also, you can compare "our" prices in Dyersburg,Tn to where you live!                                                         Tennessee Department of Revenue                                        Cost of Living Index for Dyersburg - 3rd Quarter 2008 The Council for Community and Economic Research, (C2ER) produces the ACCRA Cost of Living Index to provide a useful and reasonably accurate measure of living cost differences among urban areas. Items on which the index is based have been carefully chosen to reflect the different categories of consumer expenditures. To receive comparison info...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
For the last several months there has been a shortage of rentals in the Dyersburg area. I am seeing this slowly  shift as more "lower priced houses" are being purchased and converted into rentals. Investors and Realtors alike are taking advantage of the great buying opportunities. Many are purchasing foreclosures or houses that sellers are dumping and either fixing up to "flip" or rent out. Back in April I purchased a 44 unit apartment complex because I could see the credit crunch coming and many people needing to rent instead of purchase. One of the reasons for purchasing these apartments is to offer my clients temporary housing until we(Carousel Realty) can find them a house to purchase. The real estate market here in Dyersburg is slow but appears to be picking up steam and I predict ...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
Just a few days ago, I interviewed David Hayes(President of Security Bank). In that interview David stated that Security Bank is on sound financial footing and they believe in the strength and vitality of Dyersburg! Yesterday, Security Bank was featured on the front page of the local paper(State Gazette). The article states that Security Bank has taken a bold step into the future by the investment they just made in the recent renovation of its main branch. Security Bank's main street location was the former Cordell Hull Hotel. This hotel was built in the 1940's and named after the Tennessee politician "Cordell Hull". Cordell Hull served as the 47th U.S. Secretary of State under Franklin D. Roosevelt, earned the Nobel Peace Prize in 1945 and was known as "the father of the United Nations...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
With all the talk on the news about the massive bailout of Wall Street, I decided to interview David Hayes(CEO & president of Security Bank in Dyersburg,Tennessee). David is (IMO) one of the sharpest financial guys you will ever meet. Perhaps he needs to go to Washington and straighten out this mess! I gave David a list of questions that the people of Dyersburg,Tennessee would ask concerning the local and national banking systems. First of all Security Bank is a very strong and stable bank. We havemoney to loan and have not been directly affected by the nationalfinancial problems. You can check your banks rating here: www.bankrate.com.  Our customers and prospects should NOT be concerned because if they want to discussanything I am just a short phone call or visit away. The Washington/W...
Comments 5
By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
The commissioner(Matt Kisber) of the Tennessee Department of Economics and Community Development just awarded the city of Dyersburg the prestigious Three-Star certification. "This designation is a sign of Dyersburg-Dyer County's hard work and I am proud to offer my congratulations," said Kisber. "Strong community development is the basis for sustainable economic growth and dyer county has demonstrated their committment to improvement by accepting and meeting Three-Star's challenging requirements. A picture of Dyersburg-Dyer County accepting this award and a full story can be seen here.
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
I received a call yesterday about property here in Dyersburg. This lady lives in Jonesboro,Arkansas and she was calling to try to help her daughter and family relocate here to Dyersburg,Tennessee 38024. We discussed a piece of property then I asked her why she called me. She stated that she found me on the internet. I told her I have a lot of websites and would like to know which one exactly she found me on. She then stated she could not remember but did remember the word "localism". After telling her what the site looks like she said she was sure that is the place. I have 3 websites and 3 outside blogs in addition to my Activerain blog. She found me on Activerain's localism site. Localism is definitely impressive to the search engines and I plan to continue pouring fresh information in...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
Today I went to the Chamber of Commerce for a luncheon. The President of the chamber(Alan Hestor) discussed with the group  the new spec building under construction in Dyersburg. The Memphis business Journal wrote a recent article about this project. Other deals are in the making for Dyersburg including 3 different companies looking at the former building owned by Bekaert Steel. We also discussed the river port under construction near Tiptonville,Tn and the impact it will have on Dyersburg,Tn. Dyersburg is on the move and in position to really grow and prosper!
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
A few months ago a company contacted me to help them auction off foreclosures for several of their clients. If they have any houses for me, they fax me the details and paper work on Wednesdays and I auction off these foreclosures in the Dyer county courthouse on Thursdays. Most of these properties have been financed with B-paper mortgages(originated by national out of town mortgage companies). All of our local banks have been sheltered from most of the foreclosures! I got a call a couple of days ago from my company asking me if I can auction any day of the week as they are going to be working with a new much larger client who needs to auction several properties coming up. Our Dyersburg real estate market has turned the corner as pending are up,new listings are up and the number of homes...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
Dyersburg,Tn 38024 The results for the real estate market in Dyersburg and Dyer County is mixed according to the latest numbers provided by the Dyersburg MLS. For the period from Jan1 to July 1 of this year, there were 284 listings with 155 of these sold(54.58%). For the same period last year there were 438 listings with 188 of these sold(42.92%).  This reflects an increase of percentage sold of about 11.5%. Last year the sale price/list price ratio was 95.42% verses this year of 94.61%. I believe this in part reflects perhaps more foreclosures in the numbers this year. Last year the average days on market was 114 and this year it is 144 which reflects a longer time for homes to sell. Last year the average sales price for solds was $118,983 and this year is $107,146. This also is a refl...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
About 5 months ago I listed a house for a lady. I did the market analysis and showed her the numbers. She chose to list it with me at about 10% above the current value. I normally will not take a listing overpriced but did get her to agree to automatic price reductions. We started out at $94,500 and are now down to $89,900. We have had several lookers but no offers. One thing that the owner and I failed to take into account is the foreclosures that keep popping up. Every time we think we have a serious prospect, they end up buying a "new" foreclosure in the neighborhood. I sent my seller an e-mail yesterday apologizing for not predicting all these foreclosures that keep popping up and for obviously listing her property too high. I also asked for a further price reduction and she just wa...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
Having you been thinking about an exciting career in real estate? What do you have to do to get your affiliate broker real estate license in Tennessee? One of the training schools has this webpage that explains what it takes to become an agent! After you get your license you then have to go to work with a local real estate company. Carousel Realty is interested in helping you fulfill your dream of becoming a 1st class real estate agent. Over a year ago, one of the best agents in Dyersburg closed his own real estate office and came to work for me as an agent and as a trainer. Jackie Keeling is(in my opinion) the best Realtor in the Dyersburg,Tn area and that is why I hired him as my trainer. We have weekly staff meetings which includes a training session on how to become a better Realtor...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
Most of my posts have been addressed mainly toward potential buyers in the Dyersburg Tn area. Today, I want to address everyone considering selling their Dyersburg home or property in the upcoming months. I would like to suggest some questions you should ask before employing a Realtor to market your home! When did you get your license to sell real estate? How many homes did you sell as the listing agent last year? How many homes have you sold as the listing agent this year? How many agents do you have working with you at your company? Do you have a personal assistant to help you with all the details? How will you market my home? What is "your" website exposure on the internet? How many of your buyers come from internet marketing? Do you have a blog or blogs about real estate in this are...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
Are you considering a move to the Dyersburg,Tn area? Of course you do not know the area but would like to look around a while and get to know the area before your purchase! Carousel Realty is here to help!  We have over 120 units-(houses and apartments) which includes three apartment complexes, two on Tickle Street and the other complex on Troy Avenue(near downtown). We are offering "our" buyer clients the opportunity to rent any available units, houses or apartments "short term" until you get to know the area and are ready to purchase. The other landlords in Dyersburg require a one year lease. Our prices range from $400 up to $1000 monthly. We only offer these short term rentals to our buyers relocating into the area! Many coming in with one of the plants are working with a relocation ...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
I keep hearing contractor friends saying that they wish a good reputable /dependable plumber would move to the Dyersburg area!   Do any of you Activerainers out there know of such a person who may have had their business slow down considerable and are looking to relocate?   Although our new construction slowed down quite a bit, there is still new construction and a lot of remodelling going on here in the Dyersburg area. The other trades are also in demand here but in my book plumbers are in greatest need. If you know of a plumber that fits this description, please have him or her call me at 800-896-8016.
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
Last year and the year before, many many people chose to relocate to Dyersburg from Florida. We also got our share of people who relocated from California. Those have now slowed to a trickle. Before, they were selling their overvalued properties and buying value priced properties in Tennessee. This appeared to be the norm across the state. Now with the real estate market collapse, they are unable to sell their properties and reinvest in Tennessee. The new trend I am seeing is people moving here from Nigeria. I am running into a lot of new faces and many have that distinct British accent. I have some new friends who I just sold a home to who are originally from Nigeria. He is a doctor in Hayti. I have met many others from Nigeria with most of them being in the medical field. Perhaps ther...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
After a lot of trial and error(mostly error) I believe I have finally put together a decent video. I actually shot several videos and took several pictures and merged them all together using the Mixpo Activerain video technology. I would like to personally thank Brad Andersohn for helping me overcome all the obstacles which are part of the learning curve for Mixpo Activerain video. I will return with a later post and discuss some of those hurdles that I think I have now mastered! This is a video of the "Lakewood" community located about 4-5 miles north of Dyersburg,Tennessee.
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By Joey Markham
(Carousel Realty of Dyer County)
On the news everyday is someone telling us how bad the real estate market is and how much the money people are losing in real estate.  I want to tell you that this is not the case in Dyersburg, Tennessee.  Two weeks ago, I sent one of my clients that I am working with a list of 7-8 houses in the Dyersburg area that they might be interested in.  It as about 4-5 days before we were able to view any of the properties.  During those few days half of the properties now have contracts pending.  Many of the homes in my area that have been listed for several months, now have contracts.    During the past month or so when I have talked to people about real estate, several of them have told me that this is not a good time to work in real estate.  I have continued to let each of them know that thi...
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By Mike Frazier, Northwest Tennessee Realtor
(Carousel Realty of Dyer County)
A few days ago the Site Selection Magazine disclosed the top ten economic groups across the United States. Although Dyersburg,Tn did not make the top ten list, we did however make the honorable mention list right behind the top ten. Dyersburg came in right behind Dallas Ft. Worth and ahead of Houston. That is quite an accomplishment for a small micropolitan area like Dyersburg,Tn. The Dyersburg/Dyer County Chamber of Commerce was recognized back in 2005 by the Site Selection Magazine as being one of the top micropolitan areas of the country. The local chamber was actually tied for twentieth place across the country. Here is a link to this same story as written by the local newspaper, the State Gazette. Earlier this year, I wrote an article detailing how Dyersburg was picked as one of th...
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