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Enjoy Country Living at its Best! 2333 George R James Road, Eads, TN

by Melissa Thompson

2333 GEORGE R JAMES RD, Eads, TN

Just Listed

Presented By:

Melissa Thompson

Crye-Leike Realtors
901-729-9526
Licensed In: TN
License #: 231600

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$ Click for current price
3 BEDROOMS | 2 Baths (2 full ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10063234 to view more pictures of this property. Country Living At Its Best! Welcome Home to this Charming 3 Bedroom, 2 Bath, Brick Home Situated on 5.53 Beautiful Acres Featuring an Abundance of Storage Space, Nice Barn for Animals & Equipment, Each Room w/2Closets, 2 Storage Buildings, Carport w/Storage Shed, Attic, Laundry Room w/Cabinets & Pantry, Spacious, Warm & Inviting Great Room w/Romantic Fireplace, Lovely Dining Area Opens to the Large Kitchen, w/Full Complement of Appliances, Gracious Entry! Escape the City & Make this Your Home!

 

A Homebuyer’s Guide to Choosing the Right Neighborhood

by Melissa Thompson


When you are searching for a new home, location is one of the most important factors to consider.  You might love a house, but if it’s not in the right neighborhood, it may not be the right house regardless of how much it appeals to you.  So, before you start scrolling through home listings online, it’s smart to have an idea of WHERE you want to live.  Here are some things to consider when searching for the right neighborhood:

  • You may have heard this saying before: “It’s better to have the worst house in the best neighborhood than the best house in the worst neighborhood”. While nobody really wants to live in the “worst” house anywhere, there is some good logic behind this statement.  If you ever plan to sell your home, it’s value will be impacted by the surrounding homes in the neighborhood.  For that reason, you will have better resale value if you’re surrounded by homes that are similar to yours.  So, it is a good idea to research home values in the neighborhoods that appeal to you.  How to Buy the Worst House on the Best Block
     
  • How important is convenience to you?  Some people prefer living in more rural areas, but others desire close proximity to things like major interstates, shopping areas, medical facilities, and schools.  Before you start your home search it’s important to decide how much convenience matters to you.  In addition, you may want to think about the fact that having a home that is convenient to highways and such can have a positive impact on your resale value.
     
  • Are home values rising or falling in the neighborhood? If a neighborhood has home values that are climbing, that’s a positive indication that it’s a good place to buy.  However, if a neighborhood has stagnant or falling home values, it might not be the best place to look for a home.  Many things can have an impact on home values; for example, if an area is growing with new businesses, the career opportunities involved can lead to rising home values in the area. Memphis Home Prices & Values
     
  • Does the neighborhood have an HOA? (Home Owners Association)?  Some people love an HOA.  They appreciate how it protects home values by establishing rules for maintaining the appearance of the homes and neighborhood. They also enjoy perks such as a neighborhood pool and clubhouse, parks, and walking trails.  However, for other people, an HOA is a deal breaker. They don’t care for the rules and regulations (and payments) that come with it.  HOA regulations and costs vary from neighborhood to neighborhood, so it’s important to research them before you decide to live in a community with an HOA.
     
  • How are the schools rated?  Whether you have children or not, the school system is an important factor when choosing where to live. If you plan to send your children to public school, you will definitely want to live where schools are highly rated.  You may think that if you don’t have kids in school, that it doesn’t matter how the school system is rated. But that thinking is a mistake. The truth is that the rating of a school system can have a huge impact on your resale value; positive or negative. Memphis TN Public School Ratings
     
  • How safe is the neighborhood?  Safety is important to everyone. Nobody wants to live in a neighborhood that isn’t safe.  You can research crime statistics for neighborhoods online.  If you are relocating to a new state and you’re not familiar with the area, an experienced local Realtor is a great resource to help you determine what areas are safe for you and your family.

There are so many factors involved in the home buying process, but determining the right location is a decision that requires thought and research.  Once you have found the right place, then you can start searching for the right house!

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor Melissa Thompson and let her help you with all your real estate needs! Give her a call today at 901-729-9526!

Photo Credit: memphisrap.com

Beautiful East Memphis Home! 556 Melody Lane

by Melissa Thompson

556 MELODY LN, Memphis, TN

Just Listed

$ Click for current price
4 BEDROOMS | 4 Baths (4 full ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10062170 to view more pictures of this property. Impressive 4BR Home Nestled in One of the City's Most Sought After Neighborhoods w/Everything Your Heart Desires! Granite Galore, Screened Patio w/Speakers & TV Wiring, Gleaming Hardwood Flrs, Storm Shelter for 8, 2nd Flr Addition Makes Great In-Law Quarters w/Kitchenette, 2nd Laundry Rm, 2BAs & 2BRs, Game Rm, Media Rm w/All Equipment, Smooth Ceilings, Spacious Great Rm w/Cozy Fireplace, Wonderful Kitchen w/Stainless Steel Appl, Formal Dining Rm, Fenced Backyard, MudRm, Sec Sys, 2Car Garage!

 

Starting a Home Search? Answer These Questions First!

by Melissa Thompson


The decision to purchase your first home is not one that should be made lightly.  It is an important, life-changing decision that should be given serious consideration.  So, before you take the plunge into searching for the perfect home, here are some questions you should ask yourself to make sure that you are ready:

  • Can I afford a home?  The first step is to determine if you can afford to buy a home based on your current financial situation. Using a home-affordability calculator will help you figure out how much you can afford by plugging in your income, debt and the amount of a down payment you will be able to make.   You will now have a number for the highest amount you can afford and what the monthly payment will be. How Much House Can I Afford?
     
  • Is it better for me to rent or buy?  The answer to this question depends upon what kind of market you are in because inventory can make a huge difference. Using a rent vs. buy calculator will allow you to crunch the numbers. You can enter the current amount of rent you’re paying (or how much you would be able to pay) and the zip code where you want to live. The calculator will provide a comparison of the cost of buying a home versus renting in that area.  You will also be able to see which option is more cost effective over time. Rent vs. Buy Calculator
     
  • How long will I live here?  If you plan to stay in a home for a long time, it is generally better to buy versus rent. If you’re going to be living somewhere for a short term, renting might be the better option.  The reason is that when you buy a home you will likely have to pay closing costs which can total in the thousands of dollars.  In addition, most of your early mortgage payments go toward interest rather than paying down the principal, which is the actual amount you owe on the home.  A good rule of thumb is that home buyers should stay put for at least five years.  Otherwise, renting is the better option.
     
  • Are you saving for retirement?  Retirement may seem a long way off to young home-buyers, but it is important to start saving early.  It’s not a good idea to neglect your retirement accounts in order to “save” money to put down on a house.   Consider meeting with a financial counselor who can help you find a balance in saving for retirement and saving for your first home at the same time.
     
  • Am I ready for the responsibility?  Owning a home is a huge responsibility.  With rentals, you can call your landlord to fix things that aren’t working in the home, but as an owner, it all comes down to you.  You need to be sure that you have the time, willingness and resources to keep up with home and yard maintenance.

If you are ready to start your home search in the Memphis area, contact professional Realtor Melissa Thompson and let her help you with all your real estate needs! Give her a call today at 901-729-9526!

Photo Credit: denverpost.com

Open Houses, Sunday September 8, Germantown, Collierville and Piperton TN!

by Melissa Thompson
 
 
1562 PAINTED HORSE PASS, Collierville, TN | $649,900
 
Open House:
SUN, SEPTEMBER 8 | 2:00 PM - 4:00 PM
 
Click for more information or to schedule a private viewing
Click for Directions!

245 N LAKE RD, Piperton, TN | $659,000
 
Open House:
SUN, SEPTEMBER 8 | 2:00 PM - 4:00 PM
 
Click for more information or to schedule a private viewing
Click for Directions!

1885 WELLTON DR, Germantown, TN | $685,000
 
Open House:
SUN, SEPTEMBER 8 | 2:00 PM - 4:00 PM
 
Click for more information or to schedule a private viewing
Click for Directions!

1217 DERBY RUN LN, Collierville, TN | $750,000
 
Open House:
SUN, SEPTEMBER 8 | 2:00 PM - 4:00 PM
 
Click for more information or to schedule a private viewing
Click for Directions!

1512 PAINTED HORSE PASS, Collierville, TN | $719,900
 
Open House:
SUN, SEPTEMBER 8 | 2:00 PM - 4:00 PM
 
Click for more information or to schedule a private viewing
Click for Directions!
Get Your Free Home Value Now!
 
Search All Homes For Sale
Featured Properties
Free Home Values
Testimonials
Homes Close to Where You Work
Avoid Foreclosure
 
MY REVIEWS
Melissa Thompson
Crye-Leike Realtors
901-729-9526
Licensed In: TN
License #: 231600
Contact Me
         
 
 

A Homeowner’s Guide to Building Wealth Through Home Equity

by Melissa Thompson


When you purchase a home, you are not only choosing where to live, you are making a financial investment as well. Home equity is the percentage of your home value that you own and with each mortgage payment you make you are contributing to your own financial savings.  The goal is to build up as much equity as you can so that when you sell your home, you will make a nice profit!  Here are some tips for building home equity:

  • Take Out a 15-Year Mortgage Loan - It’s common for people to choose a 30-year mortgage because many believe a 15-year mortgage is out of their budget.  However, it can’t hurt to ask your mortgage lender to run the numbers to see if a 15-year mortgage is doable for you.  You might be surprised to discover that the shorter term is within reach.  Sticking to a budget that allows you to pay off your house in half the time will build equity faster and will certainly pay off in the long run! These 4 Easy Steps Will Teach You How to Budget (Finally)
     
  • Pay Down the Principal - Build equity faster by paying down your home loan quicker.  Even if you don’t have the ability to take out a 15-year mortgage, you can still make extra mortgage payments when you have the means to do so and the difference extra mortgage payments can make toward building equity are huge. If you make just one extra payment toward principal each year, you can potentially pay off your home loan seven or eight years ahead of schedule.  There are ways to do this without breaking your budget.  For example, you can use a tax refund or a work bonus.  Another way to do it is to simply add a small amount to your principal payment each month. What is Mortgage Principal?
     
  • Make a Larger Down Payment - Depending on your credit standing, you can qualify for a conventional mortgage loan with a down payment as low as 3%, and an FHA loan with a down payment as low as 3.5%.  While it’s tempting to buy a house with a low down payment so that you have more cash on hand, the pros of making a larger down payment may outweigh the cons. The larger the down payment, the faster you build equity.  The faster you build equity, the more profit you will make should you have to sell your home before paying it off.
     
  • Make Improvements on Your Home - Making home improvements is a good way to add value to your property.  It’s important to educate yourself about what home improvements give you the best ROI (return on investment).  For example, per Chris Terrill, CEO of HomeAdvisor, “a minor kitchen remodel is one of the best investments homeowners can make.”  “Projects including refinishing cabinets, updating the countertops and installing new appliances all provide high return without breaking the bank.”  Other home improvements that add value to your property include replacing garage doors, adding a bedroom, updating a bathroom and installing new windows. And don’t underestimate the value of curb appeal!  A professionally landscaped yard will not only help with a quick sale; it can also add up to 20% to your home’s value!

Owning a home is likely the largest financial investment you will make, and the more equity you acquire, the more options you will have.  You can utilize your equity as a nest egg for the future or it can be used as a cash down payment on your next home.  Use these tips to build equity faster so you can build up your savings an enjoy this wonderful perk of home ownership!

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor Melissa Thompson and let her help you with all your real estate needs! Give her a call today at 901-729-9526!

Photo Credit: thewhitellawoffice.com

http://www.yourkeytomemphis.com/Our-Video-Blog

12116 MACON RD, Collierville, TN

Just Listed

$ Click for current price
4 BEDROOMS | 5 Baths (4 full, 1 half ) BATHROOMS |

 

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10060300 to view more pictures of this property. Stunning Southern Estate Situated on 2 Lushly Landscaped Acres w/Stocked Pond You Have to See to Believe! Granite Galore, Updated Baths, New Flooring, Copper Sinks & Faucets, New Roof, 3Fireplaces, Custom Bronze Drs Front & Back, Pavers in Solarium & Outdoor Oasis w/FP & Grill, Generator, Wrought Iron Fencing Around Entire Backyard, Faux Finished Trim, Irrigation Sys, Custom Closets, Playroom w/2Rms & Wet Bar, Chef's Kitchen w/Stainless Steel Appl, 3Car Garage, Smooth Ceilings, Custom Lighting!

 

 

Open House in Collierville and Piperton! Sunday, August 18!

by Melissa Thompson
 
 
245 N LAKE RD, Piperton, TN | $679,900
 
Open House:
SUN, AUGUST 18 | 2:00 PM - 4:00 PM
 
Click for more information or to schedule a private viewing
Click for Directions!

12577 BRAVO RD, Collierville, TN | $585,000
 
Open House:
SUN, AUGUST 18 | 2:00 PM - 4:00 PM
 
Click for more information or to schedule a private viewing
Click for Directions!
Get Your Free Home Value Now!
 
Search All Homes For Sale
Featured Properties
Free Home Values
Testimonials
Homes Close to Where You Work
Avoid Foreclosure
 
MY REVIEWS
Melissa Thompson
Crye-Leike Realtors
901-729-9526
Licensed In: TN
License #: 231600
Contact Me
         
 
 

Move-In Ready Bartlett Beauty! 4250 Steffan Woods Cove

by Melissa Thompson

4250 STEFFAN WOODS CV, Bartlett, TN

Just Listed

$ Click for current price
4 BEDROOMS | 2 Baths (2 full ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10059285 to view more pictures of this property. Don't Let This Move-In Ready Bartlett Beauty Getaway! Featuring 4 Bedrooms (3 Down), Gleaming Wood Floors, New Windows, New Carpet, Open Floor Plan, Lovely Dining Room w/Columns & Arched Doorways Opens to the Spacious Great Room w/Cozy Fireplace, Wonderful Eat-In Kitchen w/Full Complement of Appliances, Laundry Room w/Cabinets, 4th Bedroom Upstairs Makes a Great Playroom, Romantic Master Suite w/Luxury Bath, 2 Car Garage, Nice Backyard w/Covered Patio & 12x16 Storage Shed! Bartlett Schools!

 

How to Ease Your Hunt for an Accessible Home

by Melissa Thompson


House hunting can be a stressful or exhilarating experience, depending on how it’s handled. If you’re unprepared, however, you may struggle to find what you need, especially if you require an accessible home. Thankfully, you can take steps to make your search much easier.

Before You Begin

The first thing to do during this adventure is to look at your town and see how much the average home costs, and what listing prices look like. By doing so, you are not only better informed about how much you should offer but what price range to expect for your budget. For example, the median listing price for homes in Memphis sits at around $149,900. This figure will vary by neighborhood, but you can use it as a jumping-off point.

Also, if the appraised price of a home does not match the market value, you might have room to argue for a new price that is more in line with average rates. Similarly, look at what you can haggle over with the owner to sweeten your purchase, such as closing costs, home warranty, or any possible updates you would like completed.

Bathroom Features

Unfortunately, many houses aren’t made with accessibility in mind. Given that, you may have to make the alterations you require, so look for properties that allow modification. Sadly, if you have your eye on an older home, you may have to deal with certain obstacles, particularly in bathrooms. For instance, tearing into a wall to add a zero-entry shower, pedestal sink, or even installing grab bars and new flooring could release VOCs and asbestos. So, it’s best to look for homes on the newer side, as well as those with enough space to be changed or expanded.

Kitchen Amenities

Kitchen remodels can run into the thousands of dollars, so it can save you a pretty penny if you can find one that already has some degree of accessibility. According to Kitchen Magic, these features might include lowered cabinets and countertops, as well as open spaces to allow mobility. However, not every modification has to be an expense, or require a remodel, as small changes can make cooking easier and safer. Specifically, if there is space, you could bring in a short table to allow food prep to be done without danger or strain. Similarly, touch can-openers, lap cutting boards, and more can also help you cook in peace.

Hall and Walkway Dimensions

There is nothing worse than not feeling mobile in your own home. To ensure that you can maneuver freely, you’ll want to be certain both the halls and doorways are wide enough to meet your needs. On average, a wheelchair requires 36 inches to safely and easily pass through. Yet, for absolute safety, it's best to look for homes with 48-inch doorways and walking paths to accommodate a wheelchair and another person simultaneously. After all, no one should feel trapped or frustrated when moving through the place that is meant to offer shelter and peace.

Mobility Concerns

With mobility in mind, you’ll want to consider the entryways and stairs of a potential property. While it's possible to find no-step entries, to make coming and going safer, don’t despair if you can’t. In fact, it doesn’t take long or cost too much to have a ramp custom built for your house. Moreover, you needn’t look only at ranch-style properties to find something that you can work with since navigation can be simplified with just a stairlift. With top of the line models costing between $3,000 to $4,500, all you need is a little wiggle room in your budget.

The best way to arm yourself when looking for a home is to know what you need. By understanding your local housing market, knowing the median listing price of homes in your preferred area, and the dimensions you’ll want from a property, you can ease your journey. After all, this should be an exciting time, not something that causes undue stress.

By: Patrick Young Ableusa.info
Image courtesy of Pixabay

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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