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Expert Tips for Home Buyers & Sellers

Our mission at The Melissa Thompson Team is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

4 Reasons to Sell Your House This Winter

Some Highlights:

  • Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available!
  • Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.

The Melissa Thompson Team will get your home SOLD! Contact us today 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

The Tale of Two Markets

Some Highlights:

  • An emerging trend for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices!
  • Inventory continues to rise in the luxury and premium home markets which is causing prices to cool.
  • Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis for 80 consecutive months.

Contact the Melissa Thompson Team for all your Real Estate needs! 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

Home Prices Up 6.34% Across the Country!

Some Highlights:

  • The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
  • In the report, home prices are compared both regionally and by state.
  • Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!

Contact the Melissa Thompson Team for all your Real Estate needs! 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

Existing Home Sales Slowed by a Lack of Listings

Some Highlights:

  • Existing home sales are currently at an annual pace of 5.22 million, which is up 1.4% over last month. This reverses the six-month trend of dips in sales every month.
  • The inventory of existing homes is still below the 6-month supply needed for a normal market and is now at a 4.3-month supply.
  • NAR’s Chief Economist, Lawrence Yun, had this to say: “After six consecutive months of decline, buyers are finally stepping back into the housing market. As more inventory enters the market and we head into the winter season, home price growth has begun to slow more meaningfully. This allows for much more manageable, less frenzied buying conditions.”

Contact the Melissa Thompson Team today! 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

The Cost of Renting vs. Buying a Home

Some Highlights:

  • Historically, the choice between renting or buying a home has been a tough decision.
  • Looking at the percentage of income needed to rent a median-priced home today (28.4%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious.
  • Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year! Contact the Melissa Thompson Team today! 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

VA Home Loans by the Numbers

Some Highlights:

  • The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans & 2 million active duty service members which helps them achieve their dreams of homeownership.
  • In 2017, $189 billion was loaned to veterans and their families through the program.
  • VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC.

The Melissa Thompson Team proudly supports our veterans and we are here to help you find your new home! 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

The Difference an Hour Will Make This Fall

Every Hour in the US Housing Market: 

  • 596 Homes Sell
  • 278 Homes Regain Positive Equity
  • Median Home Values Go Up $1.20

Let the professionals on The Melissa Thompson Team assist you with all your Real Estate needs!  Contact them today at 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

Buying a Home Can Be Scary… Until You Know the Facts

Some Highlights:

Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home which stops many of them from even trying! Here are some facts:
  • 72% of buyers who purchased homes this year have put down less than 20%.
  • 76.4% of loan applications were approved last month.
  • The average credit score of approved loans was 727 in September.

Let the professionals on The Melissa Thompson Team assist you in buying your new home!  Contact them today at 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

20 Tips for Preparing Your House for Sale This Fall

Some Highlights:

  • When listing your house for sale, your top goal will be to get the home sold for the best price possible!
  • There are many small projects that you can do to ensure this happens!
  • Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!

Let the professionals on The Melissa Thompson Team get your home SOLD this Fall!  Contact them today at 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

Buying a Home? Do You Know the Lingo?

Some Highlights:

  • Buying a home can be intimidating if you are not familiar with the terms used during the process.
  • To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home.
  • The best way to ensure that your home-buying process is a confident one is to find a real estate professional who not only puts your family’s needs first, but will guide you through every aspect of the transaction with ‘the heart of a teacher.’

Let the professionals on The Melissa Thompson Team assist you with all your Real Estate needs!  901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

Buying a Home is Cheaper than Renting in 38 States!

Some Highlights:

  • According to a study by GOBankingRates, it is cheaper to buy a home than rent in 38 states across the country.
  • In six states the difference between buying & renting would account for less than a $50 monthly difference, leaving the choice up to the individual family.
  • Nationwide, it is now 26.3% cheaper to buy.

Contact the expert's on The Melissa Thompson Team for all your Real Estate needs!  901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

Should I Buy Now? Or Wait Until Next Year?

Some Highlights:

  • The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac predicts interest rates to rise to 5.2% by the third quarter of 2019.
  • CoreLogic predicts home prices to appreciate by 5.1% over the next 12 months.
  • If you are ready and willing to buy your dream home, find out if you are able to!

Contact the expert's on The Melissa Thompson Team to find out if you able to buy your dream home!  901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

4 Reasons to Sell This Fall

Some Highlights:

  • Housing inventory is still under the 6-month supply that is needed for a normal housing market.
  • Buyers are often competing with one another for the listings that are available.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.

Contact expert's on The Melissa Thompson Team to find out how much your home is worth$$$ 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

Is Buying a Home Really More Stressful Than Planning a Wedding?

Some Highlights:

  • According to a new survey from Open Listings, 62% of Americans ages 25-54 believe that buying a home is more stressful than planning a wedding.
  • Many young couples are saving for a wedding and a home at the same time.
  • The average US wedding now costs 66% of a median home down payment, according to The Knot.

Contact expert's on The Melissa Thompson Team to find the home of your dreams today! 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew

Home Prices Up 6.49% Across the Country!

Some Highlights:

  • The Federal Housing Finance Agency (FHFA) recently released their latest quarterly Home Price Index report.
  • In the report, home prices are compared both regionally and by state.
  • Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!

Contact expert's on The Melissa Thompson Team for all your Real Estate needs! 901-729-9526 or Melissa@YourKeytoMemphis.com 

By: KCM Crew