Memphis Real Estate Market Trends

Where is the Memphis real estate market headed? With all the foreclosures and roller coaster ride on Wall Street, many home buyers and home sellers need to keep up with what they should expect from today's real estate market.
Urban areas are making a comeback, along with smaller homes. Many areas of downtown Memphis, midtown and East Memphis are still very popular. Shorter commutes give you more family time and cut down on the gas bill. Smaller homes offer lower utilities which have also recently increased in price.
Flipping properties is almost at a stand still, but that has not stopped investors from making timely and smart purchases while prices are low and sellers are anxious. So the strategy is buy and hold until the market picks up.
Many homeowners are going green by adding energy efficient bulbs, more insulation in attics, and on-demand hot water with the new tankless systems. Even builders have picked up on adding these green features to help sell their inventories.
We can all hope that the Feds have picked the right path to help straighten out the mess that they got us all into in the first place.