2009 was a tough year for many Americans and the struggles that many went through in the past year, haven't shown signs of easing in 2010. Yet, many of us managed to grow our businesses and investments in the past year and have our sights set on growth in 2010 as well.
With that in mind, I wanted to remind everyone of our awesome responsibility to give back to our community. Whether it's a donation of our time, our talent or our treasure, supporting our community will pay us all back ten fold in excitement, opportunity, pride, as well as adding real value to our daily actions. Memphis Invest continues to not only rehabilitate blighted communities, but also supports Make-A-Wish Foundation, St. Jude Childrens Hospital and provides meaningful work for hundreds of local individuals and small businesses.
Take some time today to contemplate how you can help in your community. If you live far from Memphis, then you can take heart in the fact that Memphis Invest is doing their part here in Memphis for you. By working with Memphis Invest, you are supporting that work here in Memphis and helping to support this community!
Have a prosperous 2010!
Kent Clothier, Sr.
A new way of servicing the client!
What would happen if investors needs REALLY came first?
I thought that was a great question when it came up in our planning meetings for 2010. Back in December, each of the department heads here at Memphis Invest were challenged to set the goals and agenda as well as the plan for reaching those goals for 2010.
What became evident very quickly, was that everyone was aligned in wanting to smooth the process and address the needs of our clients and investors first. We reversed our sales process and looked at the questions we were asked by investors after the process was complete. These were the areas where we needed to focus our attention.
By installing a game plan for customer service that focuses on reaching out to investors and answering their questions early and often, we have reduced the number of questions after the sale and further enhanced the notion of "turn-key" investing at Memphis Invest. Customer service has to be a focus for any service company and put simply, Memphis Invest wants to be the BEST service company in the industry!
There is still work to be done.....But we're getting closer!
I received such strong feedback last month from this article that we decided to update the stats and re-print the article. Take a few minutes to let the numbers sink in.....
Value of investing in Memphis real estate on the rise!
Reasons to get started investing TODAY continue to mount.
If you haven't figured out why you are investing in Memphis real estate then maybe some of these stats will help you out.
- Memphis' Median Home Value fell to $99,965. VERY AFFORDABLE!
- Memphis is 21% undervalue entering 2010.
- The over-all consensus is that Memphis will continue to see opportunity for investors as home prices remain below value. A second wave of foreclosures will keep the supply side high and pricing for investors well below value in 2010.
- Unlike other similar markets, Memphis is a stabilized rental city where a majority of the single-family residences are non-owner occupied rental units. There are more renters than owners in the city of Memphis and not enough properties of higher quality.
- Mortgage rates are expected to climb to an average above 6.25% by year end which remains HISTORICALLY low even after the climb!
- With the Memphis job market predicted to see growth in the supply, defense, medical, staffing and distribution fields, demand for Memphis rental housing should continue to be strong.
- Analysts believe job market will stabilize with unemployment around 6%-8% for Memphis.
MemphisInvest.com is owned by investors who are constantly keeping our eyes on the local economy and specifically the housing and rental markets. We feel that 2010 will continue the recent trend of years with outstanding opportunity to take advantage of low entry pricing with high rates of return on investment.
Schedule of February Events
Join us for any of these activities provided for our clients! In fact, invite a friend or colleague to join you......
Tuesday February 23rd - 12:00 Noon sharp CST Live Q&A Call - Dial (218) 844-0850 code: 777268# "Live Call with Nathan Gray & Premier Property Mangement" No registration - just dial in at 12:00 CST to listen in!
Thank you very much for taking the time to read this email. It is always a pleasure getting the opportunity to communicate with you and I welcome all of your comments. Please do not hesitate to respond to this newsletter and let me know what you think!
Memphis Foreclosure rate up in November, Lower than National average
The foreclosure rate in Memphis increased for November 2009 compared to the previous year, according to a report from First American CoreLogic, Inc.
The company, a subsidiary of First American Corp. (NYSE: FAF), reported the rate of foreclosures among outstanding mortgage loans is 2.05 percent for the month of November, up from 1.21 percent in November 2008.
Foreclosure activity in Memphis is lower than the national foreclosure rate, which was 3.09 percent for November 2009.
Also in Memphis, the mortgage delinquency rate has increased, according to First American CoreLogic.
The company reported 9.92 percent of mortgage loans were 90 days or more delinquent for November 2009, compared to 7.66 percent for the same period last year.
Realty Trac, Inc. released its year-end report earlier Thursday that showed Tennessee actually saw it's foreclosure rate drop in 2009 from 2008. According to RealtyTrac, there were 40,733 foreclosure filings - default notices, scheduled auctions and bank repossessions - last year across the state. That was a drop of 7.75 percent compared to 2008.