By Jeff Adolph
Residential Real Estate
Despite the onset of an economic downturn, Memphis realty is just as productive as it was before the financial doom and gloom became public knowledge. And, with interest rates at an all time low, along with real estate prices, many local Realtors are taking the opportunity to buy now.
Many Realtors are familiar with real estate trends and the ebb and flow of home availability and prices. Thus, a depreciated real estate market not only represents value buying, but also the chance to increase your asset worth in the future.
Lee McWaters, a real estate professional who has been in realty for over 20 years, knows that when real estate falls in value that it is not long before the tables turn and that value begins to appreciate once again.
"Even though we're in a recession and the real estate market was the first to drop, the real estate market will be the first to come back, in my opinion," said McWaters.
Many Realtors across the United States suggest that when you buy a home that you need to look at it from an investment point of view, not an emotional one. Plus, these realtors also feel that given the current state of realty it is time to make a move to buy now, before the market prices change.
Another Mephis Realtor, Steve Young, says he looks at buying from a business standpoint.
"If you look at real estate as an investment, buying now is the best time," said Young. "Homes are being sold and inventories of unsold homes are dropping."
Typically, the real estate rule of supply and demand dictates to price. Therefore, the less homes for sale, and the greater the demand, the higher the price. So if Memphis is seeing its home inventory dwindling then it is highly likely that in the near future demand will increase, as will prices.
Article Source: Wood, John (2009) Real Estate Experts Know its Time for Home-buying Opportunities; available online at www.commercialappeal.com
Image Source: www.destination360.com and www.blog.ubertor.com
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Homes are typically sitting on the market for 60-90 days in this region with the median home price hovering around $150,000. The market trend in this area is said to be stable with no changes recorded and prices are remaining consistent with last years figures. 



















































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