Posts from December 30th, 2008
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30
'Bottomed out': Home sales, prices continue decline in Memphis area - From the Commercial Appeal
By Cassandra Kimberly 529-2786
Memphis Commercial Appeal
Tuesday, December 30, 2008
As 2008 winds to a close, some real estate professionals are looking ahead in hopes of a different turn of events in 2009.
"We're preferring to look forward and not backward because 2008 has been the most challenging year since we've been in business," said Harold Crye, co-founder of Crye-Leike Realtors Inc.
Marked by the consequences of predatory lending practices, job loss, and the declaration of an official recession, the housing market nationally has dipped far below the normal "valleys" and hard times.
"Maybe it's just optimism, but most Realtors feel like we can't go down any further," Crye said. "Most of us feel like we've bottomed out, and we're running along the bottom of the trough right now."
Crye-Leike is a full-service real estate company founded in Memphis in 1977. Today it is ranked #4 in the nation and the largest real estate company serving markets in Tennessee, Arkansas, Georgia, Mississippi. Crye-Leike has a network of more than 2,800+ licensed sales associates, 600+ staff members and over 130+ branch and franchise offices located throughout a seven state region of Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, and Tennessee. Crye-Leike also has a franchise location in Puerto Rico.
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