MEMORIAL DAY AN AMERICAN HOLIDAY!

memorial day

Memorial Day, an American holiday observed on the last Monday of May, honors men and women who died while serving in the U.S. military. Originally known as Decoration Day, it originated in the years following the Civil War and became an official federal holiday in 1971. Many Americans observe Memorial Day by visiting cemeteries or memorials, holding family gatherings and participating in parades. Unofficially, at least, it marks the beginning of summer.

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Bartlett TN Home For Sale: 6163 Kimberly Elise Drive, Bartlett, TN 38135

Bartlett TN Home For Sale

6163 Kimberly Elise Drive, Bartlett TN  38135

Incredible 4 bedroom home overlooking the 6th fairway of the Quail Ridge Golf Course! This appealing traditional home features gleaming hardwood floors, 9 ft ceilings, 2 story foyer, crown molding, neutral paint colors, new dimensional shingle roof, updated fixtures, arched doorways, hearth room, media room, recessed lighting, security system and so much more! The stylish kitchen is a cooks dream come true with all the bells and whistles to create culinary masterpieces including granite countertops, an abundance of cabinetry, double ovens, plus a large eat in area. Located off the kitchen is the delightful hearth room enhanced with tons of windows illuminating the room with natural light. A romantic formal dining room with sleek sophistication is ideal for stylish dinner parties. Entertain family and friends in the inviting great room with a warm gas log fireplace. The main level master suite is sure to please with tray ceiling, three walk in closets and a pampering bathroom with granite double vanity, whirlpool tub, and separate shower. Three generously sized bedrooms on the second level share a full bathroom. Large laundry room with built-ins helps keep things tidy. An awesome media room is a thriving space to unwind with surround sound, dimming lights and darkening curtains. A relaxing patio overlooking the beautiful backyard with golf course views makes this the perfect place for grilling and chilling! Don’t miss the opportunity to retreat from the hustle and bustle of everyday life, simply by coming home!

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.

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More Home Buyers Putting Less Down

More Home Buyers Putting Less Down | Keeping Current Matters

A recent post by the National Association of Realtors (NAR) revealed that in the months of December 2014 through February 2015, there was an increase in the number of first-time buyers making a down payment of 6% or less as compared to last year:

  • 2014: 61% of first time home buyers
  • 2015: 66% of first time home buyers

While the number of small down payments is lower than it was in 2009 when 77% of down payments were 6% or less, it does show the recent decisions by both Fannie Maeand Freddie Mac to offer 3% down payment options to certain buyers is impacting the market. FHFA Director Mel Watt recently explained why Freddie and Fannie made this decision:

“The new lending guidelines by Fannie Mae and Freddie Mac will enable creditworthy borrowers who can afford a mortgage, but lack the resources to pay a substantial down payment plus closing costs, to get a mortgage with 3% down. These underwriting guidelines provide a responsible approach to improving access to credit while ensuring safe and sound lending practices.”

This is great news to millions of purchasers that have been denied the opportunity to own their own home because of the almost impossible burden of saving for a 20% down payment.

Will these programs create future challenges?

Certain pundits fear that low down payment programs will create a wave of foreclosures down the road. Mr. Watt also addressed this concern:

“To mitigate risk, Fannie Mae and Freddie Mac will use their automated underwriting systems, which include compensating factors to evaluate a borrower’s creditworthiness. In addition, the new offerings will also include homeownership counseling, which improves borrower performance. FHFA will monitor the ongoing performance of these loans.”

Also, the Urban Institute revealed data showing what impact substantially lower down payments would have on default rates in today’s mortgage environment. Their study revealed:

“Those who have criticized low-down payment lending as excessively risky should know that if the past is a guide, only a narrow group of borrowers will receive these loans, and the overall impact on default rates is likely to be negligible. This low down payment lending was never more than 3.5 percent of the Fannie Mae book of business, and in recent years, had been even less. If executed carefully, this constitutes a small step forward in opening the credit box—one that safely, but only incrementally, expands the pool of who can qualify for a mortgage.”

Here are the direct links to the guidelines for each program:

Fannie Mae 3% Down Program

Freddie Mac 3% Down Program

Remember, as with any new program, there will be some confusion. Contact your mortgage professional for a deeper understanding.

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Germantown TN Home For Sale: 9300 Hollow Creek Cove, Germantown, TN 38138

Germantown TN Home For Sale

9300 Hollow Creek Cove, Germantown, TN 38138

Elegant formal detailing and distinctive design are matched by a wealth of comfort and pleasant living in this gorgeous five bedroom home! Situated on a sprawling two acres in Germantown a prestigious presence is beyond evident! Quality features include an entertainer’s floor plan, soaring ceilings, spacious rooms, hardwood, tile and marble flooring, impressive moldings, built in bookcases, two grand staircases, balcony overlook, office, bonus room, inground pool, a new roof, and alarm system…. Just to name a few! Style and utility were masterfully fused together in the gourmet kitchen with granite counters, oversized chefs island with bar seating, full complement of stainless steel appliances, an abundance of cabinetry, pantry and separate breakfast nook. The 2 story great room offers incomparable space for entertaining guests, characterized by a keen sense of grace and comfort. Host the finest dinner parties in the formal dining room with a dazzling chandelier. The luxurious master retreat provides a soothing oasis of special conveniences and comforts at day’s end with a quiet sitting area and cozy fireplace.  Indulge in the lavish master bathroom with his and hers vanities, whirlpool tub, separate shower and huge walk in closet! Four massive secondary bedrooms with plush carpeting, neutral paint, and all connecting to lavish baths.  Enjoy privacy in the resort style backyard with a sparkling in ground Gunite pool, covered patio, pavilion area, outdoor fireplace, koi pond and lush landscaping – an incredible space to entertain or just relax! There is an attached 3 car garage plus a detached 2 car with half bath and office with full bath, all heated and cooled! Look no further, this is the home you have been waiting for!

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.

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101 Things To Do In Memphis #63: The Orpheum Theatre Summer Movie Series

#63 Orpheum Summer SeriesThe Orpheum Theatre’s Summer Movie Series kicks off its fourth year offering a much anticipated line up of fan favorites, classics, comedies, and family-friendly features starting June 4th thru August 28th. The Orpheum Theatre is one of the few remaining “movie palaces” of the 1920’s and has become a beloved summer tradition here in Memphis. Located at the corner of Main and Beale Streets, the historic Orpheum Theatre, considered “The South’s Finest Theatre”, is a premier entertainment venue. The Orpheum has served its community as an Opera house, a vaudeville venue, and a first-run movie palace. Currently, in addition to the movie series, The Orpheum presents touring Broadway productions, concerts, comedians, and special events year-round.

There is sure to be something for everyone with the many popular titles on this year’s list. Notable movies include Back to the Future, Clueless, Airplane!, Top Gun, The Wizard of Oz, Star Trek II: The Wrath of Khan, Young Frankenstein, and the much-anticipated return of Gone with the Wind.  The Orpheum will celebrate the 50th Anniversary of The Sound of Music with a special screening where audiences will be encouraged to sing along.  To honor the life of Orpheum friend Robin Williams, the Orpheum will also present the star-studded adventure Hook.

Make sure to arrive early, The Orpheum offers exciting, fun-filled activities in the lobby prior to each film including movie trivia contests, costume parades, a “selfie station,” special guest appearances, movie-themed drink specials, and pre-show performances on the Orpheum’s Mighty Wurlitzer Organ. Keep an eye out for special appearances by Grizz and the Grizz Girls before the family matinee showing of Space Jam or The Passport, a local Memphis band, set to play before Top Gun, the first film of the season!

Tickets are on sale now at The Orpheum Box Office (901.525.3000) and the ticket counter at The Booksellers at Laurelwood.  Online sales for individual movie titles will be available soon. Tickets are $7 for adults and $5 for children under 12.  Packages of ten tickets are available for $50. Visit the website for more info.

By and photo credit: orpheum-memphis.com

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7 Ways To Prepare Your Home For An Appraisal

Home_AppraiserWhile many owners consider a home appraisal as simply another step in the process of selling or refinancing their homes, homeowners who prep their homes for the appraisal often fair better than those who do nothing.

Here are seven ways to prepare your home for the best appraisal possible:

  1. Give the appraiser a list of recent sales. Ask your real estate agent to make a list of properties similar to yours that have recently sold in your neighborhood. Be sure to include the sales price. This is one less thing the appraiser has to do.
  2. Supply a copy of your home’s blueprint. This will help to verify room measurements and lot size. Also, provide the date your home was built.
  3. Provide a list of improvements. Make a list of improvements you’ve made to your property since you bought it. Include the dates the improvements were made. Be sure to list all improvements such as adding a room, updating your kitchen or bathroom, pouring a patio or replacing a roof.
  4. Make it easy for your appraiser to see the entire property. Do you have an attic or crawl space that’s hard to access? Do whatever is necessary to make it easy for the appraiser to get to those hard to reach spaces.
  5. Spruce it up. A clean home makes a good impression. Trip the lawn, clean the garage, and make minor repairs both inside and out.
  6. Point out amenities. Do you have a sprinkler or security system, built-in vacuum, or other special features that aren’t obvious? Give a list of these amenities to your appraiser.
  7. Provide a copy of your most recent property tax assessment. The assessed value of your home is what your taxing authority (your county, city or town) uses to determine how much property tax is due. The period between assessments varies by jurisdiction. Some taxing authorities might conduct full assessments every six years, for instance, but update their records annually to account for new homes or building improvements. Contact your county, city or town to get the most recent tax assessment for your property.

 

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Memphis Real Estate Market Report – April 2015

Memphis and Shelby County home sales were down 1% in April with 1,336 sales recorded  for the month compared to 1,353 last April.

Average sales prices were up 1%  $143,270 to $141,887. Year-to-date home sales are down 1% from last year and total home revenue is up 5%. 16 out of 33 zip codes had an increase in overall sales activity for the month and 23 saw an increase in average sales prices.

Bartlett and Lakeland and the unincorporated areas had a 10% increases in overall sales activity. Sales in all other municipalities were down including the city of Memphis. Cordova (38018 zip code) had the most home sales with 101 and the average sales price was $161,800.

Germantown East had the highest average sales price of $410,417 across 26 sales. Homes sales over $500k were up 4% from last April and there was not any home sales over $1 million this month. If you are interested in selling your home or are interested in buying a home; please feel free to contact me at 901-230-2610 or 901-756-8900. You can email me at Melissa@YourKeytoMemphis.com. Be sure to visit www.YourKeytoMemphis.com for all of your real estate needs.

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101 Things To Do In Memphis #62: Live at the Garden

#62 Live at the GardenImagine sitting under the stars, surrounded by beautiful gardens, while a soft summer breeze floats by. You’re sipping a cool drink, dining, and chatting with friends, while listening to the music of world-renowned artists. Welcome to Live at the Garden!

Live at the Garden is a music lovers dream come true! A star-studded line-up and 96 acres of unsurpassed natural beauty at the Memphis Botanic Gardens.

The 2015 summer line-up includes some amazing performers – Aretha Franklin, Rob Thomas, ZZ Top, Martina McBride and Daryl Hall and John Oates! Get your tickets today! You can also purchase a season lawn pass so you won’t miss any of the shows! It is going to be an amazing summer!

Looking for an incredible venue to host your next party? Live at the Garden provides private hospitality areas for you and your guests. They include a tent, chairs, lights, and bar and catering options. You simply let them know what you want and they’ll take care of the rest.

Worked up an appetite? Several vendors will be on-site to tempt you with tantalizing Garden treats. Buster’s Botanical Bar provides a great selection of frosty and refreshing beverages for thirsty concert-goers. You can also pre-order food from one of the preferred caterers.

All you need is an appetite for fun and Live at the Garden will bring the stars! This is an experience you won’t want to miss! Visit their website or call 901.636.4107 for more info.

By and photo credit: liveatthegarden.com

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MEMPHIS AREA LAND FOR SALE

View Our Inventory Of Memphis TN Area Land For Sale

Investing in today’s vacant land market is not only a smart value and a good asset, but with our inventory of Memphis area land for sale it’s also easier than ever. Whether you are searching for waterfront, gorgeous views, premiere subdivisions, or recreational property, we have a variety of lots and acreage with plenty of space for whatever your heart desires.

 

With lots and acreage of all sizes, neighborhoods and price points, you will quickly find your perfect place to call home. We have the tools you need to search, as well as the professional knowledge to help you through the purchase process. You’re starting on a journey that will be empowering and fulfilling and we’re here to help you get started.

Begin your search here!

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.

 

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Memphis TN Home For Sale: 1238 Bristol Drive, Memphis, TN 38119

Memphis TN Home For Sale

1238 Bristol Drive, Memphis, TN  38119

The perfect opportunity to own a sought after Chatham Village condominium! This two bedroom unit is conveniently located on a quiet street, yet close to shopping and dining. Many quality features such as gleaming hardwood floors, a renovated kitchen, newer carpet and HVAC, recessed lighting, brick patio, plus desirable community amenities including a pool and clubhouse – what are you waiting for! Gorgeous granite countertops, a full complement of appliances, bar seating and a sun filled breakfast area highlight this renovated kitchen. Entertaining guests will be a delight in the spacious great room. Main level half bath and laundry room. Two generously sized bedrooms on the second level, including the master, with walk in closets, plush carpeting and a shared hall bathroom. Double glass doors lead you to the serenity of this private, fenced in and partially covered brick patio area with mature landscaping – a fabulous outdoor space! Covered parking can be secured for a monthly fee (if available). If you are looking for security, comfort and a turnkey lifestyle, this condo is just the place for you!

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.

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