Memphis Area Real Estate News and Information 
Memphis Homes Values Increase in 2010, but why?
Sunday, January 10th, 2010 at 2:43pm. 33 Views, 0 Comments.
An interesting article by SmartMoney.com and circulated on Yahoo Real Estate the other day mentions that Memphis should be one of the few areas to see a slight increase in home values as compared to the rest of the nation for 2010. While I am in agreement with the basis of the results, I disagreed with the author (Lisa Scherzer) as to the reasoning behind the results in an article I wrote on my other Blog (View that Article Here).
Memphis is a unique real estate market for many reasons, here are a few that will contribute to our market showing a slight increase in home values for 2010 and not because of FedEx as the article eluded to. Now keep in mind, as with most Metro areas, the suburb communities while affected by the city’s market do have their…
Rates Ease Up Slightly
Wednesday, August 12th, 2009 at 4:20pm. 78 Views, 0 Comments.
Rates Ease Up Slightly
August 12, 2009
Freddie Mac reports a drop in the 30-year fixed mortgage rate to 5.22 percent during the week ended Aug. 6 from 5.25 percent the prior week. Over the same period, the 15-year fixed-mortgage rate slipped to 4.63 percent from 4.69 percent. As for adjustable-mortgage rates, the five-year fell to 4.73 percent from 4.75 percent, and the one-year dipped to 4.78 percent from 4.80 percent.
[SOURCES: Freddie Mac; Information, Inc.]
Market Good News
Tuesday, August 11th, 2009 at 5:42pm. 82 Views, 0 Comments.
According to the National Association of Realtors, Pending home sales are up for the fifth month in a row. This hasn't happened in six years and is a positive indicator for the real estate industry for the moment.
The Pending Home Sales Index is a forward looking indicator based on contracts signed. For the South Region we jumped 7.1% to 100.7 in June and is 8.9 percent higher than a year ago. Essentially what this means is that more and more listings are becoming under contract instead of the inventory increasing at a higher rate than demand.
Yes, a great deal of these are bank owned (REO) properties. But, we have to absorb these assets in to the market before a significant up-turn in the market can occur. Personally, I am seeing an increase in both…