The Swedish firm, Elecrolux has begun building it’s $200 million Memphis factory estimated to create another 1200 jobs and give another huge injection to the local economy.
More than likely, it is these new workers that will become our buyers and tenants. Memphis is definatley on the up!
Read the full article here, http://tennesseemarketwatch.com/electrolux-groundbreaking-oct-5/
Median home price: $280,000
Drop since market peak: 22.3%
Forecast gain by 9/2012: 7.5%
Economic recovery heated up in Memphis last year, with unemployment dropping a full point to 9.4%. That has helped to slow foreclosure filings, which dropped 22% last year.
“We have added jobs lately and we hope to add a lot more in 2011,” said John Gnuschke, director of the Sparks Bureau of Business and Economic Research at the University of Memphis.
The housing market will also benefit from its current affordability. “You can get a very nice house for $138,000,” Gnuschke said.
He also pointed out the falling foreclosure numbers in the metro area: They dropped 22% last year and 31% the year before. That means fewer homes going into inventory and a better balance between supply and demand, which will contribute to the steady home price improvement over the next two years.
We our now offering turn-key investments in Memphis with net yields in excess of 15%. Solid refurbished, tenanted and managed properties all with maintenance gurantees. And what’s more, we can now offer low interest financing on many of our properties here!