Realty Trac is reporting that foreclosure activity in Memphis is up four straight months and even though some in Memphis are disputing that, the trends we are seeing follow the reporting from Realty Trac pretty closely.
One of the biggest topics in real estate investing today revolves around property management and the struggles landlords have with either managing their properties themselves or hiring quality property management. It stands as one of the biggest and sometimes most confusing and hard decisions for a real estate investor to make.
I make it a point to try and get as much information on Memphis, Tennessee and especially the real estate industry every day. Often that means reading as many different newspapers, periodicals and blogs to make sure I am up to date and able to tell the most accurate story possible about investing in Memphis. Every once in a while, I come across something that, even though it doesn't have anything to do with real estate investing...it does!
Memphis real estate had a very good third quarter with many of the traditional real estate numbers trending in the right direction, but they are not telling the whole story. Housing starts were up, foreclosure actions were down, sales prices actually inched up and the federal lending rates continued to hang near historic lows. But investment purchases continue to be a HUGE part of the equation in Memphis real estate and continue to be a big reason why the numbers of properties sold have been consistent.