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Displaying blog entries 1-10 of 15

Don't Forget to "Fall Back" this Sunday, November 1st!

by Melissa Thompson

Buying A Home Can Be SCARY… Until You Know The FACTS!

by Melissa Thompson
 

Buying A Home Can Be Scary... Until You Know the FACTS! [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • 36% of Americans think they need a 20% down payment to buy a home. 44% of Millennials who purchased a home this year have put down less than 10%.
  • 71% of loan applications were approved last month
  • The average credit score of approved loans was 723 in September (the lowest recorded score since Ellie Mae began tracking in August 2011).

 

3059 Goforth Way- A Beautiful Bartlett Townhome

by Melissa Thompson

Welcome home to 3059 Goforth Way, an amazing, move-in ready townhome located in Ole Bartlett Village Subdivision. This home features neutral colors throughout and gleaming wood floors. The spacious great room boasts a cozy gas log fireplace & TV niche. The wonderful eat-in kitchen offers a full complement of appliances, loads of cabinets and counter space, and a large breakfast bar. The fabulous master suite is perfect for resting and relaxation, complete with an attached luxury bath with whirlpool tub, double sinks & separate shower. A 2 car garage and nice patio, along with the breathtaking Commons Area make this home one not to miss! Common areas & front yard are maintained by HOA! Melissa Thompson has distinguished herself as a leader in the Memphis TN real estate market. Melissa assists buyers looking for Memphis real estate for sale and aggressively markets Memphis TN homes for sale. Melissa brings with her a keen eye for the details of buying or selling a Memphis TN home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Melissa Thompson will help make the most of your Memphis TN real estate experience. Give her a call today, 901-756-8900, and discover the difference she can make during your family’s next move.

101 Things To Do In Memphis #86: Muddy’s Bake Shop

by Melissa Thompson

Cakes, cupcakes, cookies, pies, and brownies, oh my! Satisfying Memphis’ sweet tooth since its first sale, Muddy’s Bake Shop is a small family bakery specializing in fresh yummy desserts. Their goals are simple; “make enough money to support a simple lifestyle, enjoy our work, give back to the community, make a product we’re proud of, honor the Lord, and make your day a little brighter!”

Worried that her hometown was losing their connection to homemade baked goods, eschewing them in favor of the more convenient and cheaper mass-produced supermarket versions, Kat Gordon opened the original shop in 2008. Over the years they've added another kitchen to help with production as well as a 2nd retail shop on Cooper, which also houses the coffee bar

Muddy’s also doesn’t pack their goodies with preservatives and gross stuff. They use organic whole milk, cage free eggs, loads of real fruit, pure extracts, amazingly delicious chocolate, and lots and lots of real butter to create simply delicious treats the old fashioned way.

Every day is a party at Muddy's Bake Shop, which means this week, every day is a Halloween party! Huzzah! That's right, Halloween Week is upon us, and that means so many limited edition treats are in the case and available for preorder this Friday and Saturday only. 

Visit the East Memphis shop at 5101 Sanderlin #114 38117 for loads of tasty baked treats and the Midtown shop at 585 S Cooper 38104 for tasty treats plus a full service coffee bar!  

901.683.8844 or www.muddysbakeshop.com for additional information and to order some delicious treats!

 

By and photo credit: muddysbakeshop.com

 

Applying For A Mortgage: Why So Much Paperwork?

by Melissa Thompson

Applying For A Mortgage: Why So Much Paperwork? | Keeping Current Matters

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form.

Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

  1. The government has set new guidelines that now demand that the bank provebeyond any doubt that you are indeed capable of affording the mortgage. During the run-up in the housing market, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again
  2. The banks don’t want to be in the real estate business. Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.

However, there is some good news in the situation. The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a mortgage interest rate probably at or below 4%.

The friends and family who bought homes ten or twenty ago experienced a simpler mortgage application process but also paid a higher interest rate (the average 30 year fixed rate mortgage was 8.12% in the 1990’s and 6.29% in the 2000’s). If you went to the bank and offered to pay 7% instead of <4%, they would probably bend over backwards to make the process much easier.

Bottom Line

Instead of concentrating on the additional paperwork required, let’s be thankful that we are able to buy a home at historically low rates.

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1637 Stablemill Cove- Stunning Cordova Home!

by Melissa Thompson

Welcome home to 1637 Stablemill Drive, a stunning home nestled in the Riverwood Farms Subdivision in Cordova. Built for entertaining, this spacious home offers large and impressive formal rooms, plus comfortable everyday living spaces. Quality features include gleaming hardwood floors, plush carpeting, fireplace, 4 bedrooms plus bonus room, Gorgeous back deck overlooking wooded yard with loads of space to relax, 2 car garage, and so much more! Enjoy comfortable everyday living in the captivating hearth room off the kitchen. Cooking will be a delight in this warm eat-in kitchen with cabinet and counter space galore, durable tile floors, and a full complement of appliances. In addition, this kitchen offers a spacious breakfast area. Host the finest dinner parties in the romantic dining room. You will rest easy in your downstairs master retreat with a spa-inspired luxury bathroom featuring two vanities, relaxing whirlpool tub and a divine walk-in shower. This home offers 3 additional bedrooms upstairs with private bathrooms as well as a large bonus room. Relax and entertain outside on the large deck overlooking the wooded yard with loads space!

Melissa Thompson has distinguished herself as a leader in the Memphis TN real estate market. Melissa assists buyers looking for Memphis real estate for sale and aggressively markets Memphis TN homes for sale.

Melissa brings with her a keen eye for the details of buying or selling a Memphis TN home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Melissa Thompson will help make the most of your Memphis TN real estate experience. Give her a call today, 901-756-8900, and discover the difference she can make during your family’s next move.

101 Things To Do In Memphis #85: Opera Memphis

by Melissa Thompson

 

 

 

 

 

 

 

 

Opera Memphis is 100% opera and 100% Memphis. They do one thing: they tell stories out loud. Whether they are funny or tragic, on a stage or in the park near you, stories have the capacity to transform, to help us see the world through new eyes, and to unite us in ways we never thought possible. 

Since 1956, Opera Memphis has produced world-class opera for the people of Memphis and the Mid-South. During that time, they built relationships with many wonderful local individuals, businesses, and institutions, who are now working with them to envision the brightest possible future. That means strengthening their deep ties in the Memphis community, continuing to produce world-class opera featuring top-name artists, investing in new works, and increasing their civic impact.

Opera Memphis is widely respected for its education and outreach programs. Their efforts include: original children’s operas; a Beginners Guide to Opera; a youth conservatory camp; and a touring series that celebrates legendary black opera singers. They take these programs to hundreds of local schools, hospitals, and community organizations, and reach more than 17,000 children and teens per year. 

Opera Memphis never forgets that their success is connected to their city's success, and their city's success is all about you.

6745 Wolf River Parkway, Memphis
901.257.3100, info@operamemphis.org, and www.operamemphis.org for additional information.

 

By and photo credit: operamemphis.org

200 Wagner Place #401- Downtown Living at its Best!

by Melissa Thompson

Welcome home to 200 Wagner Place #401 in Downtown Memphis. Located in Waterford Plaza, Memphis' premier condo residence, amenities abound with indoor & outdoor swimming pools, tennis court, basketball court, golf putting green & practice driving range, exercise room, racquetball court, hot tub & 24-7 on-site security. This 2 bedroom/2 bathroom home is right on the trolley line, half block from the Orpheum, two blocks from Beale Street & the FedEx Forum, three blocks from the Redbird's baseball stadium, four blocks from the Civil Rights Museum, across the street from Tom Lee Park & the brand new Mississippi River Boat Terminal. Nice kitchen with new granite counter tops, a lovely dining room, , an enclosed sun room, and spacious great room complete this total package. 2 parking spaces are included with this home. The annual Memphis Music Festival, Memphis In May Bar-B-Q Contest, Sunset Symphony & Cajun Festival will all at the front door of this prime location!

Melissa Thompson has distinguished herself as a leader in the Memphis TN real estate market. Melissa assists buyers looking for Memphis real estate for sale and aggressively markets Memphis TN homes for sale.

Melissa brings with her a keen eye for the details of buying or selling a Memphis TN home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Melissa Thompson will help make the most of your Memphis TN real estate experience. Give her a call today, 901-756-8900, and discover the difference she can make during your family’s next move.

4 Reasons to Buy BEFORE Winter Hits

by Melissa Thompson

4 Reasons to Buy BEFORE Winter Hits | Keeping Current Matters

It's that time of year; the seasons are changing and with them bring thoughts of the upcoming holidays, family get-togethers, and planning for a new year. Those who are on the fence about whether now is the right time to buy don't have to look much farther to find four great reasons to consider buying a home now, instead of waiting.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released recently projects appreciation in home values over the next five years to be between 10.5% (most pessimistic) and 25.5% (most optimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of next year.

An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way You are Paying a Mortgage

As a recent paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

Bottom Line

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

 

6098 Aubrey Ranch Drive- Stunning Arlington Home!

by Melissa Thompson

: Welcome home to 6098 Aubrey Ranch Drive, a stunning home nestled in the Ewing Place Subdivision in celebrated Arlington. Built for entertaining, this spacious home offers an open floor plan with impressive formal rooms, plus comfortable everyday living spaces. Quality features include gleaming hardwood floors, smooth ceilings, fresh neutral paint, fireplace, 4 bedrooms plus media room, covered patio, 2 car garage, and so much more! Enjoy comfortable everyday living in the captivating hearth room with its impressive stone fireplace. Cooking will be a delight in this breathtaking eat-in kitchen with cabinet and counter space galore, tile backsplash, durable tile floors, island, pantry and a full complement of appliances. In addition, this kitchen offers a spacious breakfast area. Host the finest dinner parties in the romantic dining room. You will rest easy in your downstairs master retreat with 2 walk-in closets and spa-inspired luxury bathroom featuring two vanities, relaxing whirlpool tub and a divine walk-in shower. This home offers an additional bedroom downstairs with a private bathroom as well as two additional bedrooms upstairs. You will also find a large media room offering a great space for relaxing and entertaining. Relax outside on the covered patio overlooking the spacious backyard This amazing home is in the Arlington School District!

Melissa Thompson has distinguished herself as a leader in the Memphis TN real estate market. Melissa assists buyers looking for Memphis real estate for sale and aggressively markets Memphis TN homes for sale.

Melissa brings with her a keen eye for the details of buying or selling a Memphis TN home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Melissa Thompson will help make the most of your Memphis TN real estate experience. Give her a call today, 901-756-8900, and discover the difference she can make during your family’s next move.

Displaying blog entries 1-10 of 15

Contact Information

Photo of Melissa Thompson Real Estate
Melissa Thompson
Crye-Leike Realtors
6525 N Quail Hollow Road
Memphis TN 38120
(901) 729-9526
(901) 756-8900
Fax: (901) 435-0620