I live in Memphis, TN and the Real Estate market here is unbelievable!! Here are some reasons why:
1.)The #1 city for most affordable homes! (CNNMoney)
2.)The 2nd metropolitan city in regards to having the lowest risk to
investing in Real Estate (CNNMoney)
3.)The 3rd most undervalued metropolitan market in the U.S. (CNNMoney)
4.)The 6th best market for investing in Real Estate (CNNMoney)
5.)Bartlett, a suburb, is ranked amongst Top 100 cities in America (CNNMoney)
6.)A revitalization to many parts of Memphis, i.e. Downtown, Mid-Town, High Point Terrace, Cooper Young, Highland Heights, and other inner city areas enjoying above average appreciation
7.)One of the lowest cost of living of all major cities (FORTUNE magazine)
8.)Surrounding cities support continued manufacturing development with Memphis as the distribution hub
9.)Recent Subprime crunch has resulted in a hungry Renter Pool
And there are many, many more reason of why real estate investors should be investin in Memphis, TN
If you would like to learn more please contact me at your leizure.
It seems like it doesnt matter what city you live in...the news available to that city's inhabitants is always going to be uplifting and attractive...otherwise the morale as a whole would go down and who would invest?
For example, Portland gets rated as being one of the only states with rising numbers in sold prices among other positive things...I get a call from my buddy in Arizona asking me why Portland is the 4th worst in the nation for the same stuff...Propaganda my friend.
It is also relative.
Portland did not rise all that much in the early years of the decade. Hence there was little 'bubble' to deflate. Mostly because Portland got a bit hammered by the dot.com crash. The state has one of the highest unemployment rates and there were people loosing their homes in 2001-2003.
Similar for Charlotte NC and Dallas TX according to Shiller from the Case-Shiller index.
Value investors buy value and look for blood in the street along with other buying signs.