Mortgage originations jumped to over 30,000 in2012 (the latest year with data) and when 2013 numbers are released, they are expected to show another year with over 30,000.  That is almost 8,000 more originations than 2011 and the first time the city has gone over 30,000 originations since pre-2007.  This activity in the Memphis market is a very good sign as the cities normal real estate cycles begin to shift back into focus.

I was doing some research this week on improving tenant relationships with their property management companies and I came across this info-graphic.  Part of the research was on how to respond quicker and provide better service to tenants who have issues with their rental properties.  For a company like Premier Property Management where 100% of the properties we manage are owned for real estate investing purposes, quick reaction and tenant satisfaction will go a long way in helping an owner have a consistent and reliable income stream.  

Carol Henderson and Cyndy McCrary of the Memphis Invest customer service team spent two days last week at the Secret Service Summit event in Ohio learning from and working with some of the top customer service experts in the country.  IT was a great opportunity for the team to get a first hand look at how other companies and even some of the experts in the field of customer service are staying ahead of their competitors and providing great service to their clients.  We have been asked before why we put such a focus on customer service and why we are constantly telling the story of being really great at it for our clients.  I think that receiving thank you notes like this one really sum up our commitment:

 "Thank you Laurie, that is good news!  I appreciate you keeping me up to date.  I feel like I am your only client".

M. Howard

In many housing markets around the country, there is growing evidence of a housing recovery.  Even some of the hardest hit areas of the country where outside market forces like slow job recovery and low wage recovery have hurt, the areas are showing signs of a strengthening housing market.  Prices are going up, permits for new builds are increasing and sales to home owners are increasing while investor activity is taking up a smaller percentage of market activity.

If we have done our job correctly, each of our clients are investing in real estate for generally the same reason.  They are not looking for quick hits and fast paydays.  Real Estate investors who work with our company buying investment property in either Memphis or Dallas, are all looking for a long-term return on their investment.  Nearly all of our clients are looking for an opportunity to – for lack of a better way to put it – invest and forget. 

When it comes to their finances, it's no secret that people don't make decisions based on raw data alone. National and global events, investors' impression of a situation, emotions...all of these things and so much more go into the decisions people make when it comes to their money.  Because data and information can sometimes be fuzzy..., we need to surround ourselves with more than just one source of information.  We also need to consider that sometimes people let their own agendas influence the way they deliver information to their audience.  Sometimes sources of information don't really care about the truth or about data.  They care about how they can shape the data and the story to meet their own agenda.  Nothing is more dangerous for someone making a financial decision - especially in real estate - than a source with an agenda!