Memphis' Blog: All Categories

2006 Tax Burden and Cost of Living Comparison between Shelby & DeSoto:  Research conducted by the Memphis Regional Chamber indicates that it was $3,214 less expensive in 2006 to live in Shelby County than DeSoto County. The comparison is based on $100,000 household income with two children and standard deductions.

For a full break down on all the numbers in the report, view it here. 

 Tennessee Markets Are Low Risk:        In the most recent U.S. Market Risk Index report, by PMI Mortgage insurance company, the only two Tennessee markets included in their study -- the Nashville and Memphis SMSAs -- were among the LOWEST risk real estate markets (for home price declines) in the country.

       Of the 50 largest Standard Metropolitan Statistical Areas (SMSAa) studied, nineteen (19) markets face greater than a 50 percent chance that home prices will decline within the next two years. These 19 markets include: 8 in California, 3 in Massachusetts, 4 in New York/New Jersey, 2 in Florida, 1 in the DC area, and 1 in Nevada.

     This is good news for the Memphis Tennessee real estate market, and Tennessee as a whole.  Obviously, no one has a…

POSITIVE ECONOMIC NEWS PUSHES MORTGAGE RATES HIGHER   30-Year Fixed Rate Mortgages Highest In Almost Four Months

Nationwide, 30-year fixed-rate mortgages averaged 6.34%, for the week ending February 1, up from last week's 6.25%.  Last year at this time, the 30-year FRM averaged 6.23%.  The 30-year FRM has not been higher since the week ending October 26, 2006, when it was 6.40 percent.  The average for the 15-year FRM this week is 6.06%, up from last week’s 5.98%.  One-year “T”ARMs were up at 5.54% and five-year “T”ARMs averaged 6.04% up from last week’s 6.00%.

"Interest rates moved higher following the latest upbeat economic news," said Frank Nothaft , Freddie Mac vice president and chief economist.  "The strong 3.5 percent annualized growth in the…

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       Memphis Interest Rates  |  Memphis Mortgage Rates

Freddie Mac's Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage (FRM) averaging 6.25 percent with an average 0.4 point for the week ending January 25, 2007, up from the prior week when it averaged 6.23 percent. Last year at this time, the 30-year FRM averaged 6.12 percent.

       The 15-year FRM this week averaged 5.98 percent with an average 0.4 point, unchanged from the previous week when it also averaged 5.98 percent. A year ago, the 15-year FRM averaged 5.70 percent.

       "Mortgage rates were mixed this week on news that December's leading indicators, a measure of future economic activity, signaled steady growth in the coming months," said Frank Nothaft, Freddie Mac vice…

The Greater Nashville Association of REALTORS released a study last week that indicates typical home buyers and sellers in Middle Tennessee are older but more high-tech than the rest of the nation. GNAR commissioned the research through the National Association of
REALTORS.

       The research showed 69 percent of recent home buyers used the Internet frequently to search for homes. That compares to the national average of 59 percent. In Nashville, the typical Internet searcher was 40 years old and visited a median of nine homes. The local home buyer that did not use the Internet to search for homes was 51 years old and saw a median of three homes.

       Greater Nashville home buyers were also a little older, on average, as compared to the rest of the…

We are going to have continual articles pertaining to Memphis real estate and surrounding communities; such as Collierville and Germantown. Should you have any suggestions on subjects pertaining to Memphis homes for sale or related issues, please feel free to contact us. 

The real estate market in Memphis, Tennessee has eased up slightly from 2005 in recent months, but not nearly to the levels that a great many other cities have. January 2005 through September of 2005, total homes sold in 2006 exceeded 2005 levels. Only October, November and December showed less homes sold then the same month in 2005, and only slightly.

During October of 2006 there were 1,400 units sold, versus 1,534 in Oct. 2005. November was down to 1,369 from 1,427 the year before and…

The Shrine Building was built in 1923 and is on the National Register of historical Buildings where it has been hailed as "One of our Nation's Most Important Buildings." Offering everything from studios to town homes and prices from around $125,000 to $925,000. Located in the heart of downtown on Monroe, you are within walking distance or a short trolley ride to many attractions including the FedEx Forum, Beale Street, Peabody Place, banks, restaurants, Tom Lee park and one of Memphis' best restaurant rows.

Visit here for more information on The Shrine or any other Downtown Memphis Condos or Lofts.