Real Estate Information Archive

Blog

Displaying blog entries 1-10 of 25

3 Charts That Shout, ‘List Your Home Today!’

by Melissa Thompson

3 Charts That Shout, ‘List Your Home Today!’ | Keeping Current Matters

In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.

SUPPLY

The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.

3 Charts That Shout, ‘List Your Home Today!’ | Keeping Current Matters

DEMAND

Every month NAR reports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. As seen on the map below, buyer demand in March was strong or very strong in 45 out of 50 states nationwide, and Washington, DC.

3 Charts That Shout, ‘List Your Home Today!’ | Keeping Current Matters

Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream homes (if they are even able to find a home they wish to purchase).

Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.

HOME EQUITY

Many homeowners underestimate the amount of equity they currently have in their homes. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their homes. In reality, CoreLogic’s latest Equity Report tells us that 78.9% actually do!

3 Charts That Shout, ‘List Your Home Today!’ | Keeping Current Matters

Many homeowners who are undervaluing the equity they have in their homes may feel trapped, which may be contributing to the lack of inventory in the market.

Bottom Line

If you are debating selling your home this year, let The Melissa Thompson Team evaluate the equity you have in your home, as well as the opportunities available in your market. 901.729.9526 or melissa@yourkeytomemphis.com.  

by 

101 Things To Do In Memphis #63: Beale Street Music Festival

by Melissa Thompson

Beale Street Music Festival returns for another jam-packed 3 days of music! Originally organized in the 70’s, Memphis in May is a month long festival split into four main events that kicks off with the Beale Street Music Festival. 

The Beale Street Music Festival is a three-day music festival that showcases a mix of big-name stars performing side by side with local musical acts. The 2017 Beale Street Music Festival is being held May 5-7, 2017. The festival attracts music enthusiasts from all 50 states and a dozen foreign countries. The festival typically hosts 100,000+ people for each of the first two nights of the events and usually attracts a large crowd for the big-name finales on Sunday night. Over the past decade, more than 1.1 million music fans have flocked to the festivals for its eclectic mix of contemporary rock, blues, soul and modern talent. 

This year’s line-up appears to be one that won’t leave anyone disappointed: 

Friday, May 5, 2017
Snoop Dogg, Widespread Panic, MGMT, Grouplove, Jimmy Eat World, Greensky Bluegrass, Sum 41, The Strumbellas, Taking Back Sunday, Declan McKenna, Charles Bradley & His Extraordinaires, Peter Wolf, Toronzo Cannon, Ghost Town Blues Band, Freeworld, Tas Cru, Brad Webb, Zeke Johnson

Saturday, May 6, 2017
Kings of Leon, Wiz Khalifa, Death Cab For Cutie, Ludacris, X Ambassadors, The Revivalists, Silversun Pickups, Griz, Drive-by Truckers, Mutemath, Kongos, Highly Suspect, Dawes, John Paul, White, Deer Tick, Big Head Blues Club, Lil Wyte, Ronnie Baker Brooks, Amy Lavere, Dead Soliders, Corey Harris Band, Carolos Elliot, Jr., Blind Mississippi Morris, Daddy Mack Blues Band, Terry “Harmonica” Bean, Washboard Shorty & Revered Robert Rev.

Sunday, May 7, 2017
Soundgarden, Sturgill Simpson, Jill Scott, Ben Harper & The Innocent Criminals, Tori Kelly, Bush, Ziggy Marley, Midnight Oil, Mayer Hawthorne, Alter Bridge, Machine Gun Kelly, Ani Difranco, Booker T. Jones, Bahari, Popa Chubby, Preston Shannon, Marcella & Her Lovers, Super Chikan, Eden Brent, Leo Bud Welch, Brandon Bailey

You can purchase tickets here and get more information on BSMF and Memphis in May here.

For more info:
Website
Phone: 901.525.4611
Fax: 901.525.4686
Mim@memphisinmay.com

 

By and photo credit: memphisinmay.org

Welcome home to 6480 Steck Cove, an amazing home situated in the Rockyford subdivision on a quiet cove lot. Quality features include 3 bedrooms, 3 baths, fireplace in the great room, eat-in kitchen, hearth room, formal dining room, office, bonus room, laundry room with cabinets, gracious entry hall, saltwater in-ground pool, spacious back porch, 2 car garage and more! Spacious, warm and inviting great room comes complete with large windows overlooking the backyard, and a cozy fireplace perfect for those cold winter nights. Host the finest dinner parties in the lovely dining room featuring a chair rail, and an elegant chandelier. Style and utility are masterfully fused together in the eat-in kitchen featuring durable tile floors, nice cabinetry, pantry, island, breakfast bar, and a full complement of appliances including a range, oven, microwave, dishwasher, and double sinks. The sunny breakfast area is the perfect spot to enjoy your morning coffee. Open to the kitchen you will find the open and airy hearth room with sliding glass doors leading to the backyard. Relax in your downstairs master retreat complete with a vaulted ceiling, cooling ceiling fan/light, plush carpeting, and a walk-in closet. The spa-inspired master bathroom boasts an elongated double sink vanity, divine walk-in shower, and a relaxing whirlpool tub with tile surround. Play, party or entertain in the enormous bonus room upstairs. This home also offers a nice office space! Enjoy cookouts and parties outside on the delightful porch with a cooling ceiling fan, while you swim in the sparkling saltwater pool! The roof was replaced in 2015, new gutters installed in 2015, new window screens in 2016, French drain installed in the backyard in 2016, and the pool was converted to a saltwater system in 2016. Do not miss out on this amazing home! This amazing home is presented by Melissa Thompson - The Your Key to Memphis Team with Crye-Leike Realtors. 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.

Open House 5315 Spruce View Way Sunday, April 30 from 2:00-4:00

by Melissa Thompson

Join us for an Open House Sunday, April 30 from 2-4 at 5315 Spruce View Way, an incredible 4 bedroom home situated on a nice corner lot in the Evergreen Hills Subdivision in Lakeland, that you will have to see to believe. This spacious home offers impressive formal rooms, plus comfortable everyday living spaces. Quality features include gleaming hardwood floors, arched doorways, huge bonus room, smooth ceilings, plantation shutters, granite, stainless steel appliances, laundry room, master suite, fenced yard with covered patio and so much more!  

Open House 1925 Corbin Sunday, April 30 from 2-4

by Melissa Thompson

Please join us for an Open House Sunday, April 30 from 2-4 hosted by Mike Pyrdom at 1915 Corbin, an amazing completely renovated, all on one level, Germantown home in the sought after Dogwood Trails Subdivision that you will have to see to believe! Built for entertaining, this spacious home offers an open floor plan with impressive formal rooms, plus comfortable everyday living spaces. Quality features include gleaming walnut hardwood floors, marble galore, 3 bedrooms, smooth ceilings, new updated fixtures, laundry room with cabinets, gracious entry, remodeled bathrooms, 2 car garage, arched doorways, and so much more!

Open House 6260 Massey Manor Cove Sunday, April 30 from 2-4

by Melissa Thompson

Join us for an Open House Sunday, April 30 from 2-4 at 6360 Massey Manor Cove, an amazing East Memphis home in the gated River Oaks Subdivision, that you will have to see to believe! 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, 2 fireplaces, 4 bedrooms, 5.1 baths, granite, huge bonus room with a large wet bar, plantation shutters throughout, smooth ceilings, laundry room off the back door with a sink, tons of cabinets and storage, multiple attics, 2 car garage, arched windows, and so much more!

Buying a Home in a Seller’s Market

by Melissa Thompson

It’s a challenging time to buy a home this spring because you not only have to find a property you want; you must also beat out all the other homebuyers who want to make an offer on it as well.  It is a seller’s market right now and that means supply is low and demand is high. This is especially true in the price ranges desired by first time homebuyers. The latest figures from the National Association of Realtors show that that there was only a 4.4-month supply of homes for sale in February, which is lower than the six-month supply that indicates a balanced market. One-quarter of February’s transactions were all-cash sales, per the NAR, and investors bought 18 percent of the homes that were sold.

So, home sales are moving quickly and often have multiple offers.  That means you need to be strategic to get into the home of your dreams.  Going to open houses and perusing listings is not enough to acquire the house you want in this market.

Seeking out an experienced realtor to assist you in your search is vital to your success in buying a home this spring.  Realtors can help you with everything from finding properties, to placing appropriate offers and negotiating terms.   Knowing what is most important to sellers is key to winning a bidding war.  A good agent will know what motivates sellers.

Take the following steps to prepare and you will have a better chance at success:

  • Get your finances in order and shop for a mortgage pre-approval prior to making an offer on a house.
  • Move quickly once you find the house you want.
  • Don’t make snap judgements based on listing photos. You must see a home in person to know if you truly love it or hate it.  Pictures do not tell the whole story!
  • Be realistic about the inspection and repairs.  In a competitive market, owners don’t need to make repairs in order to sell.  Inspections should be utilized to find major flaws that may be deal breakers for prospective buyers.
  • Start with your best offer. A competitive market is not the right market for negotiating a bargain.
  • Write a personal letter to the seller. You never know what might influence their decision.  Some homeowner love their house so much they want it to go to someone who will love it as much as they do.
  • Make a big earnest money deposit. A large deposit will let sellers know that you are serious about the purchase.
  • Make a backup offer. Even if a house is already under contract, the deal might still possibly fall apart for various reasons such as inspection issues or financing.  If you love a house, put a backup offer on it so that you will be first in line if the initial buyer walks away.
  • Consider waiving or shortening contingencies. Most offers are made contingent on the buyer being approved for a mortgage, the appraisal being equal to the purchase price and the buyer approving  the inspection.  Waiving any one of those contingencies can be risky, but may be worth taking a chance on in some circumstances.

http://www.yourkeytomemphis.com/Blog/Dont-Let-Your-Luck-Run-Out

Learn more about buying Memphis Real Estate at yourkeytomemphis.com. 901.729.9526 or Melissa@YourKeyToMemphis.com.

Build Your Dream Home on this Amazing 4.83 Acre Lot!

by Melissa Thompson

Build your DREAM home on this great corner, 4.83 acre lot with trees, frontage on 2 roads and is surrounded by attractive homes in the area! It is easy access via Macon Road and Hwy 64. Nice paved roads lead you to this attractive lot which is on the corner of Latting and Jared Michael. Build your home here and have everything you have dreamed of in a home since you can build it from the ground up! There is plenty of room for your home, horses, barn, pool and whatever else your heart desires! Call The Melissa Thompson - Your Key to Memphis Real Estate Team with any questions or to schedule a private showing (901) 729-9443.

Tax Return Depressing? Owning a Home Could Help

by Melissa Thompson

Tax Return Depressing? Owning a Home Could Help | Keeping Current Matters

Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home.

According to the Tax Policy Center’s Briefing Book -“A citizen's guide to the fascinating (though often complex) elements of the federal Tax System” - there are several tax advantages to homeownership.

Here are four items, and a quote on each, from the Briefing Book:

1. Mortgage Interest Deduction

“Homeowners who itemize deductions may reduce their taxable income by deducting any interest paid on a home mortgage. The deduction is limited to interest paid on up to $1 million of debt incurred to purchase or substantially rehabilitate a home. Homeowners also may deduct interest paid on up to $100,000 of home equity debt, regardless of how they use the borrowed funds. Taxpayers who do not own their home have no comparable ability to deduct interest paid on debt incurred to purchase goods and services.”

2. Property Tax Deduction

“Homeowners who itemize deductions may also reduce their taxable income by deducting property taxes they pay on their homes.”

3. Imputed Rent

“Buying a home is an investment, part of the returns from which is the opportunity to live in the home rent-free. Unlike returns from other investments, the return on homeownership—what economists call “imputed rent”—is excluded from taxable income. In contrast, landlords must count as income the rent they receive, and renters may not deduct the rent they pay. A homeowner is effectively both landlord and renter, but the tax code treats homeowners the same as renters while ignoring their simultaneous role as their own landlords.”

4. Profits from Home Sales

“Taxpayers who sell assets must generally pay capital gains tax on any profits made on the sale. But homeowners may exclude from taxable income up to $250,000 ($500,000 for joint filers) of capital gains on the sale of their home if they satisfy certain criteria: they must have maintained the home as their principal residence in two out of the preceding five years, and they generally may not have claimed the capital gains exclusion for the sale of another home during the previous two years.”

Bottom Line

We are not suggesting that you purchase a house just to save on your taxes. However, if you have been on the fence as to whether 2017 is the year you should become a homeowner, this information might help with that decision. Contact The Melissa Thompson Team today to start your home search! 901-729-9526 or Melissa@YourKeytoMemphis.com 

Disclaimer: Always check with your accountant to find out what tax advantages apply to you in your area.  

Amazing 5 Bedroom Home in Plantation Subdivision in Olive Branch!

by Melissa Thompson

Welcome home to 8015 Oxford Drive and amazing home situated on an oversized corner lot in the sought after established Plantation Subdivision featuring tennis courts, lake, clubhouse and a golf course! Quality features include 5 bedrooms, 3 baths, energy saver tinted windows, fresh paint, high ceilings, loft overlook, security system, attic, 2 car garage and more! Style and utility are masterfully fused together in the eat-in kitchen featuring durable tile floors, nice cabinetry, pantry, and a full complement of appliances including a dishwasher, range, oven, and microwave. Spacious, warm and inviting great room comes complete with gleaming wood floors, loft overlook and a cozy gas fireplace, perfect for those cold winter nights. Relax in your downstairs master retreat complete with a vaulted ceiling, cooling ceiling fan, wood floors, walk-in closet and a private luxury bathroom. The spa-inspired master bathroom features durable tile floors, an elongated double sink vanity, divine walk-in shower and a relaxing whirlpool tub. Play, party or entertain in the huge bonus room or fifth bedroom upstairs. Enjoy cookouts and parties outside on the delightful patio! Call Lance Vaughn – Your Key to Memphis Real Estate Team with Crye-Leike Realtors to schedule your private showing 901-734-5583!

Displaying blog entries 1-10 of 25

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