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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.

Buying a Home: Do You Know the Lingo?

Some Highlights:

  • Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.
  • To point you in the right direction, here’s a list of some of the most common language you’ll hear when buying a home.
  • The best way to ensure your home-buying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher.’

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

Rent Vs. Own

Some Highlights:

  • Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space.
  • Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather than that of your landlord.
  • Renting and owning both have up-front fees when you sign your lease or close, respectively. Think about putting that money to work for you!

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

Existing Home Sales Point Toward a Good Time to Sell

Some Highlights:

  • Existing Home Sales dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June.
  • Low inventory levels are still a factor in the market. The current supply of homes for sale is at 4.4 months, which is less than the optimal 6-month supply.
  • Median home prices were up 4.3% from June 2018, hitting $285,700. This marked the 88th consecutive month with year-over-year price gains.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your home is worth in today's market!

By: KCM Crew

Home Prices Up 5.05% 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 at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!

By: KCM Crew

The Cost of Waiting: Interest Rates Edition

Some Highlights:

  • Interest rates are projected to increase steadily heading into 2020.
  • The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be.
  • Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home!

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!

By: KCM Crew

Is Your First Home Now Within Your Grasp?


Some Highlights:

  • According to the US Census Bureau, “millennials” are defined as 18-36-year-olds.
  • According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32.
  • More and more “old millennials” (25-36) are realizing that homeownership is within their grasp now!

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!

By: KCM Crew

10 Steps to Buying a Home This Summer

Some Highlights:

  • If you are thinking of buying a home, you may not know where to start.
  • Here is a simple list of 10 steps that you will go through to purchase a home.
  • Make sure to ask your agent for details about each step and what else may be required in your area!

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!

By: KCM Crew

Americans Rank Real Estate Best Investment for 6 Years Running!

Some Highlights:

  • Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 6 years.
  • Stock owners are more positive about real estate than stocks as an investment.
  • Of the 4 listed, real estate is the only investment you can also live in!
Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com for ALL your Real Estate needs!

By: KCM Crew

4 Reasons to Sell This Summer

Some Highlights:
  • Buyer demand continues to outpace the supply of homes for sale. This 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.
  • Now may be the time for you and your family to move on and start living the life you desire!

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your current home is worth!
By: KCM Crew

Top 4 Renovations for the Greatest Return on Investment!



Some Highlights:
  • If you are planning on listing your house for sale this year, these four home improvement projectswill net you the most Return on Investment (ROI).
  • Minor renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
  • Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your current home is worth!

By: KCM Crew

What is the Cost of Waiting Until Next Year to Buy?

Some Highlights:

  • The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac forecasts interest rates to rise to 4.5% by the Q4 2020.
  • CoreLogic predicts home prices to appreciate by 4.8% 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 Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find your new home!

By: KCM Crew

The Top Reasons to Own Your Home

Some Highlights:

  • June is National Homeownership Month!
  • Now is a great time to reflect on the many benefits of homeownership that go way beyond the financial.
  • What reasons do you have to own your own home?


Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find your new home!

By: KCM Crew

The Impact Staging Your Home Has On Your Sale Price

Some Highlights:

  • The National Association of Realtors surveyed their members & released the findings of their Profile of Home Staging.
  • 62% of seller’s agents say that staging a home decreases the amount of time a home spends on the market.
  • 50% of staged homes saw a 1-10% increase in dollar-value offers from buyers.
  • 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own.
  • The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your home is worth! 

By: KCM Crew

What is Really Happening with Home Prices?

Home values have softened over the last twelve months. We are no longer seeing 6-7% annual appreciation levels for the national housing market. The current numbers are closer to 4%. Some have suggested that year-over-year appreciation levels could fall to 3% or less this year.
However, a stronger-than-expected economy and a good spring housing market have changed some opinions. Some analysts are now predicting that home value appreciation may begin to increase as we move forward.

Here are three examples:

Mark Fleming, Chief Economist of First American

“Data on the movement of unadjusted house prices during the early spring home-buying season won’t be available for a few more months, but it’s quite likely that price appreciation will accelerate again.”

CoreLogic’s April “Home Price Insights

“Home prices nationwide, including distressed sales, increased year over year by 3.7% in March 2019 compared with March 2018…The CoreLogic HPI Forecast indicates that home prices will increase by 4.8% on a year-over-year basis from March 2019 to March 2020.”

Pulsenomics’ Quarterly “Home Price Expectation Survey”

  • The 2018 4th Quarter survey called for 3.8% appreciation for 2019.
  • The 2019 1st Quarter survey raised the appreciation projection for this year to 4.3%.

Bottom Line

Price appreciation has slowed over the past year. However, a strong economy and a good housing market have many experts thinking that home values might re-accelerate moderately throughout the rest of this year.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your home is worth! 

By: KCM Crew

A 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 85 consecutive months.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com for ALL your Real Estate needs! 

By: KCM Crew