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4 Reasons to Sell This Fall

by Melissa Thompson

Some Highlights:

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

​​Contact Melissa Thompson at Your Key to Memphis and she can help you get your house on the market and sold this autumn!  901-729-9526 or Melissa@YourKeyTomemphis.com 

By: KCM Crew

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Should I Sell or Should I Rent?

by Melissa Thompson

Moving is not always a choice. Sometimes it is a necessity due to a new job or a myriad of other reasons. If you are a homeowner you must decide what you are going to do with your current home. Should you rent it out?  Or sell it?  There are many circumstances to consider before making that decision.  How long do you have before you move?  What is the housing market doing in your area?  And do you have someone you can trust to manage your property?

Of course, the biggest motivator in your decision is which option will be most financially beneficial.   If you have a lot of equity in your house and can sell it, you’ll walk away with some cash to put toward your new home.  If the house is paid off, you’ll walk away with a lot of cash.  However, if your equity is built up and you have low mortgage payments (or no mortgage payment), you could bring in a substantial monthly income by renting the house for more than your monthly payments.  You do have to consider the costs involved with renting the house out.  If you’re relocating to another town, you will likely have to hire a property manager to collect rent and take care of issues that come up.  You might also have to pay to advertise the home.

There are going to be risks involved either way.  If you put the house up for sale, you run the risk of not selling it quickly and possibly ending up with two mortgage payments or a house payment and rent payment on a new place.  But renting out your house might be a bigger risk. There’s a chance you will rent it to people who you think will be good tenants, but wind up paying the rent late or not at all.  There is also the risk that renters will not take care of the house and lower its value.

Another issue to consider is that housing markets can greatly fluctuate from year to year. You must question whether your neighborhood is in the kind of shape to support a quick sale.  If other homes haven’t been selling, for example, you might not get as much for your house as you might if you could wait a year or two and rent it out in the meantime.  On the other hand, if the housing market is hot in your neighborhood, it might just be the best time to take advantage of it and sell to get the best price possible.

Finally, you must think about whether you can afford a new mortgage while you still own the first house.  Per Kiplinger, lenders count about 75 percent of the income you receive from renters when figuring out if they’ll give you a new loan, but that’s only if you have a signed lease and your salary is sufficient to cover the rest of the mortgage requirement.  Selling your house will make it much easier for you to qualify for a new loan.

The bottom line is that, after doing your research, you can decide whether selling or renting is the best and most financially sound choice for you.

http://www.yourkeytomemphis.com/Blog/Selling-Your-House-in-Autumn

http://www.yourkeytomemphis.com/Blog/Hey-Millennial-Homeowners-It-May-Be-Time-to-Sell

http://www.yourkeytomemphis.com/Blog/5-Important-Things-to-Fix-Before-Putting-Your-House-on-the-Market

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Packing 101: Getting Ready for a Move

by Melissa Thompson

Congratulations!  You have successfully sold your home!  What a relief, right?  Now comes the hard part. Moving.  Moving is one of the top five stressors in life along with job loss, death of a loved one, divorce and major illness. Sounds fun, huh?  That’s why it is important to go about moving in a thoughtful and organized manner.  The more prepared you are, the less stress.  Packing up your house can be overwhelming, but you can make it easier by spreading it out over several weeks rather than trying to do it all right before you move.  Here is a general timeline for packing that you can use as a guide:

FOUR WEEKS BEFORE MOVING DAY: PRE-PACKING - Hopefully when you sell your house, you won’t have to immediately vacate.  About a month before moving you can begin to pre-pack items that you won’t need or use before you move.  Out of season clothing, tools and small appliances, and collectibles/knick knacks are items that you won’t miss. Hint: if your house is still on the market you can take this step as well, and it will help with staging your home for prospective buyers.

THREE WEEKS BEFORE MOVING DAY: NON-ESSENTIALS - Among the items that you didn’t pre-pack, choose those that you know you likely won’t need before moving.  Books, extra linens, and kitchen items can be packed up because you likely won’t be doing much reading, and you only need enough linens, plates, and utensils for the number of people living in the home.  CDs and DVDs can go as well.

TWO WEEKS BEFORE MOVING DAY: THE SERIOUS PACKING BEGINS - Yes…now it is time to start paring down the amount of “stuff” still in your home. If you have children,  allow them to choose a few toys/games to keep out, and box up the rest. If you have a home office, clean it out and pack what you plan to take with you.  Any jewelry and shoes that you don’t wear daily can go as well.  You may feel that two weeks is a long time to go without these items, but trust me, before you know it you will be unpacking them in your new abode!

ONE WEEK BEFORE MOVING DAY: SEVEN DAYS AND COUNTING: Now it is time to pack up all but the few things you will need to get through the last few days at your current home.  The rest of your clothes and kitchen items can go (leaving yourself what you will need until the move, of course).  Go through your medicine cabinet and toss any expired medications. Pack the rest except for the ones you take daily.

TWO DAYS BEFORE MOVING DAY: IT’S GETTING REAL YA’LL: At this point your stress level may be peaking, but if you have been following the time-line and packing a bit each week, you should be almost finished!  Box up your electronics (in their original packaging when possible), bathroom items, and any miscellaneous items that are left.  Keep a box for essential items that you will keep with you as you are moving.

MOVING DAY: IT’S HERE! All that should be left is furniture and appliances.  Whether you have hired movers to load the large items or you are doing it yourself, it will be so much more manageable with everything else already boxed up and ready to go.

IMPORTANT TIP: Label every box.  You can either write what is in the box or what room the box should go to.  Or both.  You will be glad you did when you are unpacking!

Remember that this is simply a general guideline.  You should do what is right for you and your family when it comes to packing and moving. But hopefully this will make what can be a trying and overwhelming time a little less stressful.

http://www.yourkeytomemphis.com/Blog/Selling-Your-House-in-Autumn

http://www.yourkeytomemphis.com/Blog/Hey-Millennial-Homeowners-It-May-Be-Time-to-Sell

http://www.yourkeytomemphis.com/Blog/Hey-Millennial-Homeowners-It-May-Be-Time-to-Sell

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Lack of Existing Home Inventory Slows Sales Heading into Fall

by Melissa Thompson

Some Highlights:

  • The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.
  • First-time homebuyers made up 31% of all sales in August.
  • Homes are selling quickly with 51% of homes on the market for less than a month.
  • A limited supply continues to drive up prices for the 66th consecutive month.

​​Contact Melissa Thompson at Your Key to Memphis and she can help you get your house on the market and sold this autumn!

​​By: KCM Crew 

View our Video Blog

Selling Your House in Autumn

by Melissa Thompson

With autumn fast approaching, you may think that you should wait until next spring or summer to sell your house.  While it is true that the warmer months are popular for home sales, that doesn’t mean autumn is a bad time to sell.  Some buyers, such as empty nesters and millennials, prefer shopping for a home when there is less competition from people trying to move before the beginning of the school year.  So, if you would like to sell your house before winter, here are some tips for making it attractive to buyers during autumn:

1. Keep the exterior of your home neat and clean.  Curb appeal matters…a lot. It doesn’t matter how pristine the interior is if prospective buyers never walk through the front door.  The first impression is made when they first see the property and if it doesn’t look good on the outside, they may not want to look inside.  There are unique challenges to keeping your yard looking nice when the weather is cooler and the days shorter. If you have a lot of trees dropping leaves, raking will be a full-time job.  You want buyers to see your grass!  Any dead or dying plants and flowers need to be removed or cut back.  Use a fall maintenance checklist to make sure you have your property in the best shape possible.  And if you really want to impress, plant some fall flowers in bold hues to add pops of color to your yard.

2. Stage your house for the season, but don’t go overboard.  There are holidays to look forward to during the autumn season.  Potential buyers will enjoy seeing your home decorated accordingly. It will help them picture celebrating the holidays with their own families there. Keep it simple though, because you don’t want to take the focus away from the home itself.  You risk having your house look cluttered if you have too many decorations.  Embrace autumn and the warmth and coziness it exudes.  The smell of a freshly baked apple pie, the crackle of a fire in the fireplace and tasteful autumn décor might be all it takes to seal the deal on a sale!

3. Make sure lighting is sufficient.  There will be prospective buyers who want to see your house after work and with the days being shorter, it might be dark outside when they get there.  You are not going to want them walking into a dark, unlit home.  Turn on the lights inside and out. Exterior walkways and entertainment areas, such as patios and decks, should be well lit.  If you know your house is going to be shown, leave lights on in every room.

4. Price your house appropriately.  It’s important to know what homes are selling for in your area and to price yours accordingly.  Utilize the current market analysis to determine the value of your home.  A professional Realtor can help you set the right price for your home taking into account the season and market in which you are selling.  You don’t want to scare buyers away by overpricing your house.

Contact Melissa Thompson at Your Key to Memphis and she can help you get your house on the market and sold this autumn!

http://www.yourkeytomemphis.com/Blog/America-Needs-Your-House

http://www.yourkeytomemphis.com/Blog/Home-Maintenance-Projects-You-Should-Start-Now

http://www.yourkeytomemphis.com/Blog/Fall-Curb-Appeal

Popular Flooring Trends

by Melissa Thompson

Have you been thinking about redoing the floors in your home?  There are so many flooring options available that it can be confusing and overwhelming trying to decide what you want.  Floors are a significant part of what defines the style and function for every room, so it’s important to make sure you choose something that you not only like, but that will hold up and look good for years to come.  Here are some current flooring trends you may want to consider:

  • BAMBOO

Bamboo flooring has been around for a couple of decades now, but recently advances in manufacturing have strengthened its durability and diversified its appearance.  The introduction of super-dense “strand-woven” bamboo means that it can be made into boards that are two and a half times as hard as red oak.  Various wood-look styles are available in bamboo as well, meaning there are many options for style.  Being that it is made from a natural plant, bamboo is eco-friendly.  So, if you are environmentally conscious it is a good choice for you.  Learn more about bamboo flooring here.

  • LARGE FORMAT TILE

For a modern style, consider large format tile.  Whether you want a rustic stone look, a minimalist, industrial feel or a sleek, high-gloss finish, you can find what you are looking for in large format tile.  It can make a small space look larger and can give a more streamlined look to a large space.  And with fewer grout lines, it is easier to clean.


               

  • LUXURY VINYL

When you think of luxury, vinyl is probably not the first thing that comes to your mind.  But luxury vinyl is worth looking in to.  It’s nothing like the peel-and-stick flooring that people used to install in days gone by.  It is a new type of flooring that combines a high-end look with the durability of vinyl. Unlike wood, it stands up well to moisture and is therefore great for kitchens, bathrooms and laundry rooms.  Luxury vinyl comes in a variety of looks - from hardwood to stone - and looks so real that people will be surprised to discover it is vinyl!


  • CUT & LOOP CARPET

If you love the comfort of carpet, but want a different look, then cut and loop carpet may provide just what you’re looking for.  Using a technique that combines both loops and cut loops, manufacturers can create a carpet with eye-catching patterns that add depth and style to your floors. And, with new technology, carpeting is being produced with softer fibers than in the past.  Carpet padding has come a long way as well and offers more protection that it used to.

  • CONCRETE

If a sleek, industrial look is what you’re after, concrete is the way to go. This durable flooring comes in a variety of textures, colors and finishes, so it can complement almost any décor.  Concrete floors are long-lasting and easy to clean and maintain.  But they are also hard and cold, so you want to keep that in mind when choosing where to use them.  They are not going to be comfortable to stand or walk on all day long.

  • AMERICAN HARDWOOD

For beauty and durability, you cannot go wrong with American hardwood.  It’s also a great choice for the environmentally conscious.  Since it is made here and not shipped from the other side of the world like bamboo, you are reducing your carbon footprint a bit by purchasing wood from trees closer to home.  In addition, the United States takes the issue of deforestation seriously, and replenishes forests as they cut trees down. With choices like oak, hickory, maple or heart pine, you can fill your home with warmth and allure while also being environmentally friendly.


http://www.yourkeytomemphis.com/Blog/Home-Maintenance-Projects-You-Should-Start-Now

http://www.yourkeytomemphis.com/Blog/Luxurious-Laundry-Rooms

http://www.yourkeytomemphis.com/Blog/Quick-Fix-Tricks-to-Make-Your-House-Sparkling-Clean

America Needs Your House!!

by Melissa Thompson

The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):

Mark Fleming, First American’s Chief Economist

“The underlying fundamental issue is an overwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supply challenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”

Svenja Gudell, Zillow’s Chief Economist

“Everyone has been talking about tight inventory but I think we are OK calling it a straight up inventory crisis at this point. We just don’t have enough homes.”

Sean Becketti, Freddie Mac’s Chief Economist

“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale.”

Lawrence Yun, National Association of Realtors’ Chief Economist

“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”

Bottom Line

If you are considering selling your house soon, now may be the time to get it on the market. The lack of competition could lead to a faster sale at a higher price.

Contact your local expert’s at The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeyTomemphis.com to find out how much your home is worth

 

By: KCM Crew

Becoming a Minimalist: Steps for Beginners

by Melissa Thompson

Simplifying your life isn’t so simple.  It takes effort and time.  It took years to collect all the “stuff” cluttering up your life and it won’t all go away overnight.  Take these baby steps and don’t rush and before you know it, you will wake up one morning and realize that you are living the life of a minimalist. (Click on the links for inspiration!)

 

  • Make a List

Why is living more simply important to you?  Prioritizing is a first step in determining what you want out of life. Write down the things that make you feel sick and tired…and tired of being sick and tired. 

Ten Ways Happy People Prioritize

 

  • Declutter

Clutter is not your friend. A tidy, organized space makes life easier.  If you’ve ever spent twenty minutes searching for your keys, that is time you will never get back. Create a clutter-free zone. Enjoy it.  And then expand it a bit each day. Keep doing this and eventually you will have the minimalist home you are seeking.  Taking the time to declutter your life will pay off in big ways!

Decluttering

 

  • Less is More

Having too many material possessions can complicate life more than you can imagine. Less really is more…more time, more energy, and more financial security. When you start getting rid of items you don’t use or need, you will feel a sense of freedom and relief. 

Goodbye Things, Hello Minimalism

 

  • Just Say No

Saying no is hard; especially if you are a people pleaser. But saying yes to EVERYTHING saps your energy and makes life hectic and chaotic. Say yes to invites and activities that matter to you…that inspire you.  Say yes to spending time with people you care about.  But if you truly do not want to go to a party or participate in an event, learn to say no.  A polite “no thank you” will save your time and energy for what is meaningful to you.

Why You Should Say No More Often

 

  • Disconnect

We spend more and more time plugged in.  When you are obsessively checking your email and social media accounts, life is passing you by.  Technology is wonderful, but it shouldn’t replace real-life experiences. So, take time to disconnect from technology and connect with your surroundings and the people you care about.

Reasons to Unplug

These are just a few small steps toward the minimalist life.  Simplifying your life is like a giving yourself a gift that keeps on giving.  Get started today!

http://www.yourkeytomemphis.com/Blog/Back-to-School-Drop-Zone

http://www.yourkeytomemphis.com/Blog/Quick-Fix-Tricks-to-Make-Your-House-Sparkling-Clean

http://www.yourkeytomemphis.com/Blog/Clearing-the-Clutter

Top 5 A+ Reasons to Hire a Real Estate Pro

by Melissa Thompson

Some Highlights:

  • Hiring a real estate professional to buy your dream home, or sell your current house, is one of the most 'educated' decisions you can make!
  • A real estate professional has the experience needed to help you through the entire process.
  • Make sure that you hire someone who knows current market conditions & can simply and effectively explain them to you and your family!

​​Contact your local expert’s at The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeyTomemphis.com.

​​By: KCM Crew 

Fall Curb Appeal

by Melissa Thompson

First impressions are crucial to successfully selling your home.  The first thing potential buyers notice when they drive past your house is your lawn and landscaping.  If you’re putting your house on the market this Fall, here are some tips for sprucing up your yard to make a fantastic first impression!

  • Rake, rake, rake.  Fall foliage is beautiful and can serve to make your property more attractive to buyers, but a lawn covered in leaves looks sloppy.  Keep up with raking so people notice the beautiful leaves ON the trees, not the dying leaves on the ground.
  • Plant Fall flowers.  An Autumn garden filled with vibrant color is a great way to add beauty to your yard.
  • Create a lush lawn by aerating so that water and nutrients can reach the roots.
  • When you do your last mow of the season, make sure to trim grass short.  Shorter grass helps prevent disease.  In addition, Fall leaves will blow across your lawn if they have nothing to cling to.
  • Trim ugly limbs.  There is nothing pretty about cracked, diseased or dead limbs. 
  • Get rid of annuals that have lost their luster.  Trim tired perennial foliage down to the ground.  This will prepare them for their next season and will tidy up your flower beds for a neater look.
  • Lay fresh mulch for cooler weather curb appeal.  Choose mulch that is aesthetically pleasing while also providing the benefits that keep your flower beds looking their best.

With summer winding down and Fall just around the corner, it’s a good time to start planning for creating beautiful curb appeal that will have potential buyers lining up to see your home!

http://www.yourkeytomemphis.com/Blog/To-Stageor-Not-to-Stage-That-Is-the-Question

http://www.yourkeytomemphis.com/Blog/Home-Maintenance-Projects-You-Should-Start-Now

http://www.yourkeytomemphis.com/Blog/Hey-Millennial-Homeowners-It-May-Be-Time-to-Sell

Displaying blog entries 1-10 of 87