Memphis' Blog: Mortgage News

    ...and your prospective buyers, among others, may feel the pinch!  While offering Memphis real estate investors another avenue for their over all portfolio.

This will and is currently having an immediate impact on the sub-prime market here in Memphis. Memphis has a higher percentage of "credit challenged" buyers than most U.S. cities of similar size. The hardest hit areas are going to be the higher REO areas. These areas will end up having a higher rental property rate than even before. Another product will be the "lease to own" with no credit check at higher interest rates. Because the buyers that were getting in to these properties after investors went in and renovated them, were the folks using the mortgage products listed below.

   Memphis real…

 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…