A buyer can do their own homework by looking up the recent sales of properties in the neighborhood here in Memphis. It's as easy as the click of a mouse button at this link :
It helps to have a real estate agent perform a comparative market analaysis to get more accurate and reliable data from recent, pending, expired, off-market, withdrawn or other data available in the multiple listing service. What we want to acheive is a fair and balanced perspective on the marketing considerations of the homes in the target area, including their respective sizes and the amenities included.
Because of the volatility of the economic climate facing the nation today, we're seeing dramatic changes in sales volume and price. Sales comparisons must take these changes into consideration and previous comparable sales and the current sales must be adjusted reflecting current market conditions.