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.
Yahoo re-published a story today on the 20 year effect of real estate values in 25 major metroplitan areas around the U.S. I will give everyone one guess as to the outcome! For real estate investors who bought discount properties in the early nineties, they have seen huge increases in value, but more importantly, many have seen tenants pay off their notes and today are earning montly cash flow on free and clear properties! At MemphisInvest.com we have been investing and assisting others to invest in not only a great market, but also with a great long term strategy. Afer all, real estate investing is still one of the best bets for building long term wealth.