Memphis Real Estate Podcast with Melissa Thompson: Recent Episodes
Melissa Thompson
If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from The Melissa Thompson Team - your professional Memphis Real Estate Agents.
Some Highlights:Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process:* 71% of buyers who purchased homes have put down less than 20%. * 78.1% of loan applications were approved last month. * In September, the average credit score for approved loans was 737.
Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! By: KCM Crew
Some Highlights: The National Association of REALTORS® surveyed their members for the release of their Confidence Index. * The REALTORS® Confidence Index* is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices, and market conditions. * Homes across the country are selling quickly, in an average of just 31 days. * 49% of homes sold in less than a month.
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
Some Highlights:* Many buyers are purchasing homes with down payments as little as 3%. * You may already qualify for a loan, even if you don’t have perfect credit. * Your local professionals are here to help you determine how much you can afford, so take advantage of the opportunity to learn 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
Some Highlights:* Learning the lingo of homebuying is an important part of feeling successful when buying a home. * From APR to P&I, you need to know the acronyms that will come up along the way, and what they mean when you hear them. * Your local professionals are here to help you feel confident and informed from start to finish…and this infographic will help you as you go.
Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! By: KCM Crew
Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. * Freddie Mac forecasts interest rates will rise to 3.8% by Q4 2020. * CoreLogic* predicts home prices will appreciate by 5.4% over the next 12 months. * If you’re ready and willing to buy your dream home, now is a great time to buy.
Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! By: KCM Crew
Some Highlights:* Buyers are active in the market and often competing with one another for available listings. * Housing inventory is still under the 6-month supply found in a normal housing market. * Homes are still selling relatively quickly, averaging 31 days on the market.
Contact The Melissa Thompson Team to find out how much your home is worth in today's market! Reach us at 901-729-9526 or Melissa@YourKeytoMemphis.com. By: KCM Crew
Some Highlights:* Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home. * Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market. * With the national data shown here, make sure to also determine what’s happening in your local market so you are fully informed when you’re ready to make your next move.
The professional's with The Melissa Thompson Team are here to answer all your home-buying and selling questions! Reach us at 901-729-9526 or Melissa@YourKeytoMemphis.com. By: KCM Crew
Some Highlights:* Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most powerful decisions you can make. * A real estate professional has the experience to help you confidently navigate through the entire process. * Make sure you work with someone who knows the current market conditions and can simply and effectively explain them to you and your family.
The professional's with The Melissa Thompson Team are here to answer all your home-buying and selling questions! Reach us at 901-729-9526 or Melissa@YourKeytoMemphis.com. By: KCM Crew
Some Highlights:* There is plenty of talk in the media about a pending economic slowdown. * The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th. * Many experts predict a potential recession is on the horizon. However, housing will not be the trigger, and home values will still continue to appreciate. It will not be a repeat of the crash in the 2008 housing market.
Contact The Melissa Thompson Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com for all your Real Estate needs! By: KCM Crew
Some Highlights:* The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast! * Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a day from your favorite coffee shop) will help you get there faster. * Depending on where you live, putting away just a small amount each day will get you to the average down payment you may need for homeownership faster than you think.
Contact The Melissa Thompson Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your home is worth in today's market!By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!By: KCM Crew*
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com for ALL your Real Estate needs!
By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your current home is worth!
By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your current home is worth!
By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to find your new home!By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to find your new home!By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your home is worth! By: KCM Crew
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 LinePrice 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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your home is worth! By: KCM Crew
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 Teamat 901-729-9526 or Melissa@YourKeytoMemphis.com for ALL your Real Estate needs! By: KCM Crew