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As home prices linger at affordable figures and mortgage interest rates keep a low lying level, investors are scooping up property deals by the handful, keeping the real estate industry afloat in many markets across the country. Here in Memphis, we are no exception! Foreclosures and short sales are still widely present on our local market, and these are seen in the eyes of investors as quite the worthy purchase.

The Memphis movers know that investors are always a key element in the real estate game–whether its developing, flipping, or renting to tenants. In a market like Memphis that is flooded with continual foreclosures and filings, we know investors are a valuable real estate asset. On a nationwide scale, this is no different, and not rare either–approximately 28.1 million Americans consider themselves to be residential real estate investors.

A housing project proposed for the area off of Beale Street and FedExForum has triggered a debate by locals living in the existing development known as Foote Homes. While the plan called for tearing down the housing project and relocating the existing residents. Residents, however, aren’t so keen to leave. They have expressed a desire to stay put and simply update the existing housing.

This idea was met with disagreement from the city Housing and Community Development Division, who thinks the goal should be to get these residents out of the project mentality and relocate them to an area that may encourage them to seek out and utilize opportunity, rather than living their whole lives in the projects. The Memphis movers understand the complications here and hope that the proposal obtains the third party review it requires to being moving forward one way or another.

Hundreds of new employment opportunities will flow in to the Memphis area in the coming months, thanks to the announcement that New Breed Logistics will be expanding their local operations here in Memphis. Originally based in North Carolina, the logistics firm has decided to expand their presence here– in the form of a 404, 000 square foot warehouse on Quality Drive near I-78. The Memphis movers are glad that company expansions will benefit the local workforce here in Memphis.

The company has not released specifics, however, the rumors are that a new distribution center at the Quality drive location will help create hundred of new positions. The news is welcome as Memphis struggles to rebuild and maintain stability after the economic crash.

First Horizon National Corp. is taking this time to update commercial properties throughout the Memphis area, according to a report by the Memphis Business Journal. The company owns a large amount of properties and leases out spaces to a bevy of clients, all of which will experience the benefits of remodeled and updated spaces. First Horizon will also be remodeling and updating their own offices, with a 38,500 square foot facility set to be the new team’s home base.

First Tennessee Bank is a big space that is on the agenda to undergo updates. First Horizon is aware that they could manage the space better, and they hope to do so with the improvements that the interior work will bring. The Memphis movers have learned that several other projects will be underway, including a new look at several other bank locations.

The Transportation Investment Generating Economic Recovery (TIGER) Grant which was awarded by the U.S. Department of Transportation has been distributed throughout other aspects of the city, and the Memphis movers hear they will allot a portion of the grant to a Downtown Memphis improvement effort.

$5.6 million of the funding will go towards revitalizing the downtown Memphis area. Likely changes involved are updating sidewalks and other walkways, adding lighting, upgrade drainage to prevent flooding, and offer more forms of transportation. Flooding solutions are extremely vital to the area, as service roads are flooded around 29 days on average each year in the area.

The $5.6 million is a generous amount of the initial $14.9 million grant.

In the upper-crust Morningside Park neighborhood, there is a 5,800 square foot home that was owned by Steve Jobs, deceased former CEO of Apple, Inc. Purchased while Jobs was undergoing and recovering from a liver transplant, Jobs was receiving care in Memphis and the home became available when the chancellor of UT’s Health Science Department moved out. The house went up for sale when the market crashed, and the $1.325 million home was sold for $850,000 to a company owned privately by Jobs.

The company who Jobs bought the home under was a shell company not publicly linked to Jobs or Apple. The state had no idea who was buying the home. In addition to the monetary loss of the house sold to jobs, the state of Tennessee is still trying to sell the 11,400 square foot president’s mansion, which is listed for $2.9 million–down from $5 million. The Memphis movers hope that the state can level out state funding by what is lost on these properties.

The Federal Reserve recently announced analytical looks at their 12 regional districts throughout the US and how they are faring economically.While the economic developments seem less than exciting, at least they are small steps in the right direction. The Memphis movers feel it is worth noting that the compiled report included specific commentary on the Memphis area real estate. Also among positively discusses industries are construction, manufacturing, and business.

To elaborate, residential real estate markets have made small steps of progress as the attempt to regain momentum. Similarly, commercial real estate is taking a similar path and improving slightly as the weeks go by. Local mortgage companies have also reported that mortgage activity has seen improvements, which some attribute to low interest rates, but others feel the Memphis economy certainly plays a role as well.

In Memphis, there is hope for potential homeowners looking to buy and also for those looking to avoid foreclosure thanks to a new program from the Neighborhood Assistance Corp. of America. Memphis, like many other cities in the US, is still in need of foreclosure assistance and foreclosure education and prevention programs.The Memphis movers are glad that options are cropping up to attempt to bring a level of restoration back into the real estate market.

Homeowners currently stuck in an unaffordable mortgage can get a free loan modification thanks to NACA, which is a nonprofit organization, who has contracts with major lenders and investors aimed at reducing interest rates. First time buyers can also utilize the NACA to get reasonable entry level mortgages with little to no money down. You can learn more about the program and how it can help you by visiting here.

Throughout the country, rent prices fluctuate and depending on where you are, a couple years of paying a mortgage will quickly outweigh what you gain (nothing) from paying for a place to rent. Nationally, the average renter can justify buying a home within three years of purchase. The Memphis movers have learned the value comes much sooner for Memphis buyers–the payoff comes in after 1.3 years when the homeowner has put down 20 percent when purchasing.

In other below-average areas, such as Millington, the payoff time is 1.5 years, Germantown is a little longer, at 2.5 years. Memphis also has the best (shortest) payoff time in Tennessee’s metro areas, beating out Chattanooga, Nashville, and Knoxville. In other popular metros, like Los Angeles, the payoff time is over 4 years, and well-to do areas like Newport Beach have a staggering 14 year period before it financially makes more sense to buy.

Memphis employer Logical Systems, LLC is planning to consolidate their locations into one 30,297 square foot building in Memphis, at 2756 Appling Center Cove to be exact. Along with the consolidation, 14 new jobs will be added. The Memphis movers have decided to research this corporate change and also find out more about the specific positions that are underway.

The company currently has three offices totaling 11,000 square feet, and the move would allow for all operations under one much larger roof.The company is buying the property for $1.17 million and will spend about $800,000 for improvements and remodeling.

The new positions will pay around $90,000. They will add to the company’s existing 58 employees.