The city of Memphis has become one of the top real estate investment markets in the country. Due to the undervalued market, houses that can be purchased for $60,000 will appraise for $100,000 and rent for $1000 a month. The main reason for this is that at least 45% of the population in Memphis are renters. This means not only a positive monthly cash flow but shows how Memphis offers a great non-speculative real estate opportunity.
Recently the Urban Land Institute conducted a presentation in Memphis covering the emerging trends for real estate for 2009 in the Memphis market. There were several great trends being established and here are some we feel are top reasons to invest in the Memphis market:
1. Memphis continues a steady growth in job creation, property values and new development. It has proven not to experience the wild rises and falls that the majority of metropolitan areas have endured.
2. Vacancy rates continue to stay below the the national average . In addition, the Memphis rental market is 90% above the current national average for renters.
3. One of the top 10 cities to invest. Business 2.0
4. 2nd most undervalued market in the country. 20% of the houses sell below fair market value and 20% below national average. Business 2.0
5. 45% of the population rents compared to the national average of 28%.
6. 9th most foreclosures in the country with 1 in every 49 homes foreclosing. Realty Trac
These are just a few reasons why Memphis is a great place to invest. TN Real Estate Returns will show you how you can take advantage of this unprecedented situation. Start working towards your retirement now and build your long term wealth.