Ryan Flannery has been running the Memphis Invest rehab teams in Memphis, Tennessee for the last 3 years and continues to a fantastic job rehabbing distressed, discount investment properties into beautiful cash flow investment properties. While we wouldn't call rehabbing an art, it definitely takes skill, knowledge and a little flare to make properties shine on a budget.
It's not often that I let Marq out of his office and on an even more rare occasion that I let him write a blog! But, I thought what the heck, he makes some good points and is actually writing in complete sentences. I am actually kidding around here. Marq is very intelligent and has helped hundreds of Memphis invest clients with building their Memphis investment property portfolios. I trust him implicitly to take care of all of our clients and I think this blog post is a great illustration of how far he has come!
About 8 months ago, the owners of MemphisInvest.com recognized a trend taking place in the investment real estate market and moved to capitalize as soon as possible. That trend has bore out over time to be a new marketplace, a new investor that wasn't taking part in the real estate buying frenzy of 2008 and 2009. We even developed a whole new strategy and business model to help us take advantage of that trend.
I am a big believer in keeping yourself up to date with the latest news from the real estate world. I have been reading the DSNews everyday and I have begun to link to articles form the site and even re-print when I think they are news worthy to real estate investing in Memphis. This article definitely defines one reason we are having so much trouble getting a housing recovery to take hold and gain traction.
In an effort to develop a clear view of the real estate market, Homes & Land, a Tallahassee, Florida-based provider of real estate media and marketing, recently asked thousands of real estate agents for their opinions about their local real estate market and published the results in its Market Pulse Survey Report.
When asked if the Home Affordable Modification Program “has reduced the rate of foreclosures in your market,” only 10 percent of respondents said yes. Of those remaining, 65 percent responded no, and 25 percent were unsure.
“Unfortunately, the data on the program to date and the responses from our survey show that HAMP has done little to help,” said Eric Adair, business development analyst for Homes & Land. “Clearly respondents to our survey don’t believe this program is helping to reduce foreclosures.”
DSNews writer, Carrie Bay published an article today citing Barclays' bank analysts pointing toward a continued drop in pricing around the country, but a slowing of the foreclosure process and eventual bottoming of pricing.