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Expert Tips for Home Buyers & Sellers

Our mission at The Melissa Thompson Team is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

101 Things To Do In Memphis #75: 29th Annual WEVL Blues on the Bluff

Bring your chairs and blankets and celebrate 29 years of fun on the bluffs of the Mississippi River in a beautiful park-like setting on the grounds of The Metal Museum.
Giant shady oaks, cool river breezes, the smell of BBQ, fantastic music, and absolutely the best view of the Mississippi in the entire mid-South!


Details:
Schlafly Beer is the beer sponsor.
Beer, wine and non-alcoholic drinks being sold
Award-winning BBQ and more from Central BBQ Food Truck being sold
No pets or outside food or beverage permitted
Kids welcome when accompanied by watchful parents
Silent auction
WEVL Merchandise and Blues on the Bluff posters for sale
Free guarded parking


The line-up:
The MD’s
6:30 p.m.

The Ghost Town Blues Band
8 p.m.

Marcella & Her Lovers
9:35 p.m.


Admission is $20 in advance, $25 at the gate
Kids 11 and under are $12 at the gate

Saturday, July 22nd
Gates open at 6 p.m.


By and photo credit: http://wevl.org/bob

5 Important Things to Fix Before Putting Your House on the Market

If you want the best price for your house, you may have to do some repairs before selling it. Potential buyers will be willing to spend more for a home that doesn’t need a lot of work.  Here are 5 important things to fix before selling:
  1. Exterior - When was the last time the exterior of your house was painted?  Is the paint faded and chipping?  Is wood rotting around the windows?  Is your front door dingy?  First impressions matter when it comes to selling your home and buyers will get their first impression when they see the outside of your house whether in pictures or in person.  Don’t forget the landscaping.  A well-kept lawn and simple, but clean flower beds will go a long way toward creating an enticing aesthetic for your property.
  2. Interior Paint - If the walls are looking a bit shabby and the trim a bit grimy, painting is a quick and easy fix.  The same applies if you went through a crazy color phase a few years back and decorated with hues that might not appeal to everyone.  Choose neutral colors that will allow buyers to focus on the spaces without being distracted.
  3. Kitchen - The kitchen is one of the most important rooms that buyers focus on when looking at a house.  So, if yours is looking run-down you will want to update it.  It will be worth the investment to replace appliances that are on their last legs or putting in a new granite counter.  Or it might be as simple as repainting cabinets and adding shiny, new handles.
  4. Bathroom - Nothing turns buyers off faster than an unsightly bathroom.  Sparkling, clean fixtures and a fresh coat of paint will go a long way toward impressing someone searching for their dream home.  Inexpensive touches like a decorative mirror or a lovely picture on the wall will add to the ambiance without breaking the bank.
  5. Flooring - If your carpets are stained or thread bare, it is worth your while to replace them.  Otherwise, buyers may ask for a carpet allowance when they make an offer on your house.  The same applies if your vinyl floors are in bad shape.  Hardwoods are always popular, but you may want to consider getting them refinished if they are looking old and scruffy.
It may seem counter intuitive to spend money on repairing or fixing up a house you are getting ready to sell, but at the end of the day, it will not only help you sell your house faster, but you will get a better price for it too.

http://www.yourkeytomemphis.com/Blog/75-of-Homeowners-Think-Now-is-a-Good-Time-to-Sell
http://www.yourkeytomemphis.com/Blog/Quick-Fix-Tricks-to-Make-Your-House-Sparkling-Clean
http://www.yourkeytomemphis.com/Blog/Tips-for-Showing-Your-Home-to-Potential-Buyers

The 5 Greatest Benefits of Homeownership

Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.”
  1. Homeownership can help you build equity over time.
  2. Your monthly payments will remain stable.
  3. You may have some tax benefits.
  4. You can take pride in ownership.
  5. Homeownership improves your community.
Let’s expand on each of Freddie Mac’s points:

Homeownership can help you build equity over time.
Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).
In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun reported that now the net worth gap is 45 times greater.

Your monthly payments will remain stable.
When you purchase a home with a fixed rate mortgage, the majority of the payment (principle and interest) remain constant. On the other hand, rents continue to skyrocket. Your housing expense is much more stable if you own instead of rent.

You may have some tax benefits.
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 from the Briefing Book:
  • Mortgage Interest Deduction
  • Property Tax Deduction
  • Imputed Rent
  • Profits from Home Sale
You can take pride in ownership.
Most surveys show that a major factor in purchasing a home is the freedom you have to design the home the way you want. From paint colors to yard accessories, you don’t need a landlord’s permission to make the house feel like a home.

Homeownership improves your community.
The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study explained:
“Homeownership does create social capital and provide residents with a platform from which to connect and interact with neighbors…Owning a home means owning part of a neighborhood, and a homeowner’s feelings of commitment to the home can arouse feelings of commitment to the neighborhood, which, in turn, can produce interactions with neighbors.”

Bottom Line
There are many benefits to homeownership. That is why it is still a critical piece of the American Dream.

Contact your local expert’s at The Melissa Thompson Team 901-729-9526 for all your home buying needs. 

By: KCM Crew