If you've heard Memphis Invest speak at various events around the country, you've heard us talk about the 'intagibles' that make Memphis investment properties unique when compared to other real estate investing cities. One of the unique characteristics that makes Memphis a great city for real estate investors is the location and, because of location, the industries that support the city. Here is another great example of the tremendous economic growth that is expected for the city and how that growth effects real estate investors.
As I was reading a report last week on the status of real estate investing in different markets around the United States, one number kept jumping out at me - the percentage of real estate investors paying cash was huge! In some markets around the country, real estate investors paying cash made up more than 75% of the transactions. Since real estate is a hyper-local industry, with each individual market able to vary wildly from the next, keeping an eye on the trends of investors before making assumptions is a huge task.
Memphis, Tennessee - Chandler Reports, the leading provider of real estate data, research and consulting information in the West Tennessee area, released the final numbers for real estate transactions in the Memphis area for February 2011. After leading the Memphis greater metropolitan area for home sales in 2010, Memphis Invest has started 2011 strong leading both January and February in home sales.