Land Foreclosure In Tipton Co Tn

Outer County Homes Appeal to Variety Of Buyers

For the past decade or so, many homebuyers have settled outside the Shelby County limits, flocking to outlying counties such as DeSoto, Tipton and Fayette.

Driving factors run the gamut from better schools to lower taxes to rural appeal. Learn more about Lisa Farmer

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“It’s really just depends on where someone wants to live – Tennessee or Mississippi,” Farmer said. “There’s pros and cons. In Tennessee, you’re going to pay higher taxes. In Mississippi, you’re going to get more land for your money, but you’re also going to pay higher tags for your car and you’re also going to pay state (income) tax.”

Farmer said during her 10-year tenure selling homes in the area that more traditional homebuyers choose DeSoto over Shelby, which unlike DeSoto has a heavier concentration of out-of-town investors and has been plagued with foreclosures. “Basically, DeSoto has not been hit as hard as Shelby County with foreclosures in the depressed market,” Farmer said. “It’s like night and day, really. There’s very few in DeSoto County at the moment, but it’s only a handful.”

Last month, Shelby County closed its books with 1,266 home sales, the most since June 2010 and 9 percent higher than July 2010’s 1,157 sales, according to real estate information company Chandler Reports, www.chandlerreports.com . But 329 of those sales were bank, or foreclosure, sales, averaging $58,760 and totaling $19.3 million.

In contrast, Tipton County saw 44 home sales in July, a 24 percent decrease from 58 sales the same month a year ago and a 25 percent drop from June’s 59 sales.

Agricultural land - a positive for communities | Farm Press Blog

A recent study shows that agricultural lands generate more public revenues than they receive back in public services, while residential land spends more than it takes in.

In every community studied, farmland generated a fiscal surplus to help offset the shortfall created by residential demand for public services.

The study concluded that converting agricultural land to residential land use should not be seen as a way to balance local budgets.

It’s an all too common sight. You’re driving through town when out of the blue there’s another one of those big wooden “For Sale” signs in front of a corn, cotton or soybean field tucked away between Lowe’s and a new movie theater. A landowner is finally about to cash in on urban sprawl. A couple of years later, it’s a checkerboard of asphalt, brick and bermuda.

Can producing an acre of houses be so much more lucrative to a landowner than renting the land out to produce an acre of grain? Probably so.

But according to a recent study, rows of new homes rising from prime farming ground may not be as good for the community as one might think.

In a Cost of Community Services study by American Farmland Trust, researchers assigned the cost of municipal services to agricultural lands, residential property and commercial and industrial development. http://www.farmland.org/documents/Cost-of-Community-Services-08-2010.pdf . Agricultural lands, or working lands, may include farm, forest and/or ranch lands. Residential development includes all housing, including rentals, but if there is a migrant agricultural work force, temporary housing for these workers would be considered part of agricultural land use.

The study shows that agricultural lands and commercial and industrial development both generate more public revenues than they receive back in public services, while residential land spends more than it takes in.

For example, in Tipton County, Tenn., residential land required $1.07 in services for every dollar earned, while agricultural land required 57 cents for each dollar earned and commercial and industrial land required 32 cents for each dollar earned. On average across the nation, agricultural land required 37 cents for each dollar earned, while residential property required $1.19 for each dollar earned.

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