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The Memphis area real estate industry and manufacturing industry have been bright spots for the local economy, according to data compiled for the Beige Book report by the Federal Reserve Bank of St. Louis. The Memphis movers have found that the local residential home sales in Memphis has risen 11 percent from month to month comparisons of January 2012 and January 2013. Memphis is in a district of the Beige Book that competes with St Louis and Little Rock.

Housing permits filed were also 9 percent higher in Memphis for the same time period. New home sales were up 18 percent, and commercial real estate remains stable and also thriving. Projection reports clarified that less layoffs are anticipated in the coming months for the local industry operations.

The hopes are high for the Memphis area community banks who have placed a lot of faith in the real estate market and the mortgage arena. Community banks in the Memphis metro area have taken the recent real estate trends as an upturn for the local real estate industry. Low interest rates, residential gains, and lower lending competitors have created an ideal platform for smaller, independently owned community banks to offer desirable mortgage rates for local residents wishing to buy in Memphis.

The Germantown movers have found that banks who were once predominantly signing auto loans are now reaching into the mortgage arena, such as Independent Bank of Memphis, who aims to become one of the top 10 mortgage originators in the area. As long as the consumer confidence remains high, it should be a positive year for the Memphis area real estate market.

Nationwide, home prices are seeing a boost throughout markets as we compare the late 2011 to late 2012 figures. One of the exceptions to this trend is the Memphis metro, which is one of 16 regions out of the top 100 metros to see home prices shift in the wrong direction. On average, sales of residential units in the US rose about 8.3 percent in December 2012, marking the biggest year over year increase in over 6 years. Experts, including the Memphis movers, attribute this to the low supply of homes on the market coupled with increasing demand for buyers.

The drop in Memphis pricing was slight, yet still noteworthy. with year over year prices dropping 0.2 percent. This figure includes sales of all types, including foreclosed properties, short sales, and real estate owned (REO) sales. The trend predicted for real estate this year will likely put a boost back on the market, following the fact that sales of existing homes reached their highest volume in five years throughout 2012. Contractors and investors have also jumped on this trend with home and apartment projects resuming development at the highest level four years.

January was a fruitful month for residential realtors in the area, according to a report produced by the Memphis Area Association of Realtors. Final numbers showed an increase over January 2012 homes in January 2013 by about 46 percent. A total volume of 1,259 homes were sold in January at a median price of $88,000, which marks a rise in median pricing by 17 percent from 2012.

The average sales price also grew in the region, with monthly sales volume rising significantly–57 percent over last year! Even as recently as December 2012 there has been growth, with figures rising 9 percent over the 1 month period. The Germantown movers have found that existing sales specifically felt quite a significant surge of growth on their own, with existing sales showing 50 percent growth in sales volume compared to January 2012–impressive! Neighborhoods seeing the benefit and boost in sales have been targeted as: East Memphis, Downtown, Frayser, Cordova, Germantown, Arlington, Millingon, and Parkway Village/Oakhaven.

Lately, Memphis news outlets have reported fires and other household distress in the area. Here at the Memphis movers, we wanted to share a few tips on preventing a fire in your home, which could spread and incinerate your belongings in a matter of seconds. Preparation is key, and we want to make sure you are informed on how to react in the face of a home emergency such as a fire. Smoke alarms and a fire extinguisher are important tools to utilize, but it’s also good to know what sources can cause fires and how to prevent them.

Cooking-related fires. Cooking in the kitchen is a common source of house fires. Whatever you have on the stove or in the oven needs your attention, because neglecting the food and remembering it later only to come upon a fire in your kitchen is certainly less than ideal.

Heaters catching fire. Electric space heaters and heating units that get within a close distance of linens and curtains can also be a source of house fire. Be sure to place heaters with at least 3 feet of space on each side of the unit from any obstructions. Also, each season you should have your HVAC inspected to make sure there are no leaks, loose cables, or other endangering items.

Smoking indoors. Smoking is a bad habit in its own right, but smoking inside is a common cause of house fires. If you must smoke, go outside.

Electrical fires. One of the hardest to put out and to spot in its early stages is in electrical fire. Overloading circuits is a common way to short circuit your home, and frayed or deteriorated cables can be a source of electrical spark that can ignite with flammable surfaces. Make sure cords are in good shape.

Candles. We all love candles, but leaving them lit when you aren’t home or in another room can lead to a house fire. Consider purchasing battery operated candles or make sure you blow out candles when you leave the room.

According to data collected and analyzed for the National Association of Home Builders/Wells Fargo Housing Opportunity Index, the affordability of single family homes was at it’s most affordable at the tail end of 2012. What does that mean exactly? Final sales prices for homes that changed hands in the last quarter of the year were at 84 percent affordability, meaning they fell within the “affordable” range for the median income of $59,100. This affordability finding made Memphis the 107th most affordable metro in the country for housing, which was a jump from the third quarter of 2012 which placed Memphis at #143. The Olive Branch movers have hopes that the affordability of the region will carry over into this first quarter of 2013, something we will not have a definite answer for until mid April.

This affordability scale is quite important for the economic stability of a region, because it shows that the home pricing is parallel with the incomes that residents of the region are bringing in. The most affordable housing region in the country is Ogden-Clearfield, Utah, where almost 94 percent of the new and existing homes sold were affordable for median-wage residents. At the other end of the list, the least affordable region was San Francisco-San mateo-Redwood City, Calif., where just under 29 percent of homes sold were affordable to median income households.

Next month, Memphis will play host to realtors from all over with the 10th Annual Commercial Property Forecast Summit. The event will take place at the Germantown Performing Arts Center on February 7, 2013, with special focus on the Memphis area commercial real estate market. The Germantown movers are glad to host the city’s professionals beginning with a breakfast at 8am and followed with speakers recognized as local experts with exciting insights to share about the Memphis commercial market. Keynote presenter will be K.C. Conway, executive managing director of market analytics, valuation and advisory services for Colliers International. Local real-estate industry professionals scheduled to speak include Kemp Conrad, Cushman & Wakefield/Commercial Advisors; Shawn Massey, The Shopping Center Group; Brad Kornegay, Colliers International; Rick Fogelman, Fogelman Properties; Jim Rainer, Grubb & Ellis Memphis; and Jeremy Chism, First Horizon Capital Markets.

Commercial Council members can attend the conference for $50, and non-members have to pay $70. No admittance may be purchased at the door. so please plan accordingly and pre-register here.

2012 data shows that the Memphis area realtors had a strong year, especially towards the end of 2012 when sales were consistent and surpassed 2011 figures by over 26 percent. The Olive Branch movers have learned that the monetary sales volume brought in by the 2012 activity was also 26 percent higher than numbers from 2011. The area certainly improved over the past December, with total residential sales weighing in at $145.6 million.

Looking towards the brokers, they had a stronger year over 2011 by a significant percentage. 17.2 percent more homes were sold in 2012 over 2011 with a grand total of residential sales over the year raking in $1.94 billion. Sales of existing homes were at the highest level in over two years–hopefully 2013 continues to bring the positive real estate trends.

Last year was a big year for low-income projects funded by the California firm West Egg, who spent over $2 million in the area on 10 properties–a number they are looking to double throughout 2013. The West Egg firm has particular interest in Memphis because a key realtor and investor with the firm, Jay Massey, went to college in Memphis and lived in the area for several years. The Memphis movers are excited at the fact that developers and investors look towards us as an area worth snapping up properties and revitalizing homes that have fallen decrepit and run down.

Memphis is certainly an area with a low-income population, something that the city has struggled to fix over many years. Hopefully, this approach of updating old properties and offering more low income housing options will allow those struggling economically to allocate more money towards saving rather than paying high rents and utility bills.

According to data compiled by the Tennessee Department of Labor and Workforce Development, the Memphis metropolitan area (which is comprised of 8 counties) saw unemployment rates rise to 8.6 percent, up from the rate of November which was 7.7 percent. The lowest unemployment in the state is in Knox County, with a rate of 5.7 percent.

Throughout the entire state, the Germantown movers have learned there are about 54,000 unemployed people searching for work in the Memphis metro area. The entire state of Memphis carries an unemployment rate of 7.6 percent. The city of Memphis (within Shelby County) carries a high unemployment rate of 9.8 percent, up from 8.8 percent in November.