Archive for the ‘Best Memphis movers’ Category
This winter was a tough one, and for many real estate insiders, the weather was also the cause of a slowed down real estate market in Memphis and beyond. Shelby County homebuilders filed 67 permits in February, down from 73 permits in February 2013 but up slightly from 64 permits filed in January, according to real estate information company Chandler Reports. Suburban locations in Shelby County continued to lead the way in homebuilding activity.
The Kensington subdivision in Arlington saw the most new home permits filed in February, with six averaging 2,858 square feet and $191,836. The Crisscross Village subdivision in Collierville came in second with five permits averaging 3,554 square feet and $249,900. The Porter Farms subdivision in Collierville recorded five permits, averaging 2,786 square feet and $245,200. Shelby County homebuilders filed 64 permits in January, up from 57 permits filed in January 2013 and 53 permits in December 2013.
The spring season is generally a strong time for the real estate market, so the next few weeks will be important in determining the year’s success overall for Memphis real estate.
While the struggle for a steady economy has been a rough toad, the Greater Memphis area unemployment rate fell in January at a faster rate than in Tennessee or the U.S., according to a new report by the Tennessee Department of Labor and Workforce Development. Metro Memphis’ unemployment rate fell to 8.4 percent in January from 10 percent in January 2013, with 49,860 people looking for jobs out of a labor force of 590,720. The report has been a positive take on the local economy and shows continued growth in Memphis.
Thinking of moving to Memphis? The growing stability of the employment sector should make you feel more confident in making the relocation a reality. See you in Memphis!
Social media site WalletHub.com has released a list of the best places financially for new business owners to set up shop. Based on a unique set of 14 criteria, Memphis was able to come out towards the top for a variety of reasons. While the city ranks toward the bottom of the pack in terms of recent entrepreneurial activity, the 5-year survival rate of local businesses, and the share of the workforce with at least a bachelor’s degree, it also has the 27th most industrial variety, the 12th deepest employee pool, and the 9th lowest cost of living. In other words, things aren’t great there yet but a great deal of opportunity exists for new companies that enter the market moving forward.
Thinking of moving to Memphis and opening a company? The turmoil the Memphis economy has endured throughout the Great Recession and the painstaking recovery that has ensued is, interestingly enough, one of the primary dynamics underpinning its position among the best cities in the country to start a business.
In a country of fluctuating mortgages, ping ponging list prices, and other real estate uncertainties, it’s nice to know some areas of the country are still extremely affordable. And even better, one of those places happens to be Memphis! The Memphis cost of living, according to CBS News, is as follows:
Average Rent: $709
Price of a home: $208,000
Can of coffee: $4.05
Dozen eggs: $1.62
While these are only a few factors, they help rank Memphis in the #4 spot in the Council for Community and Economic Research study. The study examined 308 urban areas throughout the country and came up with the list of the ten least expensive places to live.
An office space in Cordova will transform into a call center that will provide 1000 jobs for local residents. The company leasing the building has not been revealed at this time, but the undisclosed company will lease some space in the 125,000-square-foot office building at 7000 Goodlett Farms, according to sources with knowledge of the announcement. The Cordova commercial movers have found that the rental rate for the building is $19.25 per square foot.
The employment opportunity for the Cordova area is exciting and will help tick away at the 1.97 percent unemployment rate that the area faces. We’re anxious to learn about the leasing company as it will help determine what candidates are right for the field based on industry.
Zipcar is expanding to Memphis International Airport, a move that will open up the airport market to a trending service where customers can rent cars by the hour. Customers register online with their insurance information, then make a reservation online and use your Zipcard to scan into a vehicle for your temporary use.
The Memphis local movers have found that the rental rates for the cars offered by Zipcar are $9 an hour at the airport or $69 for the day. The airport rates are slightly higher than the prices for downtown Memphis and Rhodes College.
Memphis joins the locations of Zipcar which is in 26 cities and 30 airports around the world.
As we wrap up 2013 and take a look at real estate trends in the area, one thing is certain: the office space sector of the local real estate market not only began to show signs of life this year, but the vacancy rate for Class A space has dropped to 7.7 percent from 2010′s 20 percent. The Memphis commercial movers have found that this trend it thanks to company expansion announcements and other business happenings that have prompted office space to be snatched up in record time.
On top of more company announcements, the amount of space that companies are leasing is higher, taking away from the vacancy rate square footage and helping to strengthen the absorption rate. Also, the demand and lack of remaining supply has strengthened the rental rates for landlords.
Hot on the heels of a report that revealed the dire state of many rental properties in the area, there has been a wave of inspectors fanning throughout the local neighborhoods entering rental properties and inspecting for health code violations, among other problems. Random inspections are not going to be announced but will be during the normal operation hours of the city of Memphis. Code enforcement is something that has fallen lax in recent times as there haven’t been many complaints from tenants, who likely direct any complaints they do have to their landlords. However, in a recent report, Memphis ranked at the rock bottom of a study by the National Center for Healthy Housing, placing dead last among the 45 included metro areas.
Moving to a rental property in Memphis certainly has some cautionary tales, such as mice, mold, water leakage, roof issues, and other health and safety hazards that can deem a home as unlivable. Communities, local housing authorities, property managers and individuals need to be aware of these housing issues. They end up costing us in the form of an array of health problems, including asthma, lead poisoning and cancer. These environmental-related diseases are estimated to cost the U.S. $70 billion a year. The good news is that relatively simple repairs can correct many problems. The inspections will be a beneficial process that will help enhance the quality of living for renters throughout Memphis and beyond.
The housing market in Tennessee’s Shelby County is growing significantly as the months go by, with the latest proof in the third quarter findings which show there are double-digit increases in many key real estate areas compared to the same time in 2012. The Collierville movers have found that the local market is definitely strengthening, and the data backs that belief. Almost 4,700 homes sold in the third quarter, which is a 12 percent increase from 4,176. Total sales volume was also up 12 percent from last year with $682.8 million in sales. And sales price? That rose 11 percent to an average of $131,615.
So far this year, Shelby County has reported almost 13,000 homes for sale—which is a 10 percent gain over the same length of time in 2012. Total sales went up to $1.68 billion, which is a 22 percent gain. As we close out 2013, inventory is undeniably tight for new prospective buyers, and interest rates remain at consistently low levels. If you are debating a home purchase in Memphis, we highly recommend that you go ahead and go for it! Collierville is leading within the county with the highest amount of sales, as well as the highest revenue.
The number of existing home sales increased 13 percent, to 4,475 in the third quarter from 3,961 in 2012. The average sales price for an existing home in the third quarter was $139,943, up 12 percent from $125,011 last year. New home sales totaled 211 in the third quarter, down 2 percent from 215 over the same period last year. The average sales price for a new home was $267,836, up 6 percent from $253,272 last year.
This month marks the second annual Best Memphis Burger Fest, which will be held September 22, 2013 at the Minglewood Hall on 1555 Madison Avenue. The festival will run all day long, from 10:30am to 6pm. The event will have live music, eating challenges for attendees and a variety of burger creations from some of the best local burger restaurants and chefs. Last year’s burger was a NY strip and short rib blended patty with a fried egg, avocado, and Benton’s bacon.
In addition to sampling burgers from around the Memphis area, there will be burger crowned BEST among them all, based on votes from the official event judges. While the Burger Fest is a free event, a $5 donation is appreciated at the entry, and it will benefit the Mid-South Spay & Neuter Services. The Memphis movers have learned there will be 27 teams competing this year for best burger, so come out and sample some of the best grilled goodness that he Mid-South has to offer. Vegetarian burgers will also be at the event, and a Best Veggie Burger category means the entries will be delicious as they vie for the top spot.