Sales Up In Nearly Every Price Range

STM-Share-4

The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure.

Only those homes priced under $100,000 showed a decline (-4.6%). The decline in this price range points to the lower inventory of distressed properties available for sale and speaks to the strength of the market.

Every other category showed a minimum increase of at least 4.6%, with sales in the $250,000- $500,000 range up 15.2%!

Here is the breakdown:

Percent Change in Sales by Price Range | MyKCM

What does that mean to you if you are selling?

Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, let’s meet up to see if it is priced appropriately to compete in today’s market.

By: KCM Crew

Posted in For Home Sellers | Tagged , , , , , | Leave a comment

101 Things To Do In Memphis #14: Memphis Zoo

#14 Memphis ZooNamed the #1 Zoo in the US by Tripadvisor.com in 2008, the Memphis Zoo has been a staple of Overton Park for more than 100 years.  The Memphis Zoo was opened in April 1906 and is set on 76 acres.

The Memphis Zoo is home to more than 3500 animals representing over 500 species. The animals reside in three zones with 19 exhibits, such as Once Upon a Farm, Dragon’s Lair and China, which is home to giant pandas Ya Ya and Le Le.

Be sure to visit the newly opened Zambezi River Hippo Camp. The Zambezi River is one of Africa’s rivers of life. Rolling through six countries, spanning 1,600 miles, the Zambezi River counts as its residents some of the most intriguing, powerful and beautiful creatures on Earth. And now Memphis Zoo visitors get to experience it featuring hippos, Nile crocodiles, lesser flamingos, okapi, patas monkeys, various fish and African birds.

The Memphis Zoo sponsors a wide variety of special events throughout the year…. Go on an owl prowl, explore the Zoo at night or even make the animals part of your homeschool curriculum….

Summer Camp 2016
Send your wild child to the wildest camp around: ZOO CAMP. Campers will explore the fascinating world of animals while participating in fun games, crafts, tours, keeper chats, live animal visits, and more.

Zoo Snoozes
Ever wonder what happens when the Zoo closes its gates? Where do the animals go? Who puts them to bed? Do Zoo animals have a bedtime, too? Find out when you book a Zoo Snooze. This special program gives the unique opportunity for you and your child to spend the night at the Zoo and learn all about what happens when the rest of the world goes to sleep.

School Trips
We are combining learning with fun by creating a classroom in the wild animal kingdom! When you take a field trip to the Zoo, you’ll get up close and personal with some of the world’s most exotic creatures while also applying important initiatives in the Science, Technology, Engineering and Math (STEM) curriculum.

The Zoo also offers opportunities for birthday parties, weddings and private events.

Tickets are currently on sale for the very popular Macy’s Zoo Brew. May 27th enjoy beers from around the world, while listening to our first-class entertainment partners, including G3 and Sensations Band.

Hours of Admission:
March 1 – October 16 (summer hours) 9 a.m. to 5 p.m.
October 17 – February 28 (winter hours) 9 a.m. to 4 p.m.

General Admission Prices:
Price includes admission to ALL permanent exhibits (including giant pandas). Additional fees may apply for temporary exhibits.

Adults (ages 12-59): $15
Children (ages 2-11): $10
Seniors (age 60+): $14
Parking: $5

Click here to plan your visit, watch videos, learn about our events and even buy your tickets before you arrive!

By and Photo credit: memphiszoo.org

Posted in 101 Things To Do In Memphis | Tagged , , , , , | Leave a comment

MEMPHIS REAL ESTATE MARKET REPORT – APRIL 2016

Home sales exploded up 19% from last year with 1581 record compared to 1331. Average sales price increased 5% with total revenue of $239 million, 25% increase from last year. Non-bank sales accounted for 89% of all home sales ~ Love that! Median price across the board was up 4%.Year to date home sales and total sales revenue up 9% from the same period in 2015. 26 of 33 zip codes in the county had an increase in overall sales activity for the month & 19 zip codes saw increases in average sale prices.Home sales over book were up 31 % from last year with 38 recorded for the month over $1 million are up 67% from this same time as last year.The Crye-Leike Quail Hollow office was up 14% from last April. My team had 26 contracts in April, so extremely busy!  We are working hard!

Home Sales by Municipality

Municipality No. of
Sales  
 Average  Prices
Arlington 20%  -6%
Bartlett 25%  2%
Collierville 27%  10%
Germantown 18%  1%
Lakeland 7%  -8%
Memphis 25%  9%
Millington 157%  -3%
Unincorporated -15%  11%

Please contact The Melissa Thompson, Your Key to Memphis Team with Crye-Leike for all of your Real Estate needs – 901-729-9526 or Melissa@yourkeytomemphis.com.

Posted in We Know Memphis | Tagged , , | Leave a comment

You Don’t Have To Just Visit You Can Live Here Collierville Tennesse!

Community is a gift and we receive our community by cultivating a capacity for connectedness. Creating, holding, and guarding a trustworthy space in which human resourcefulness may be evolved.

                                      Sustainable Living
 The second oldest town in Shelby County, Collierville Tennessee has maintained a rich sense of history and a small town atmosphere that residents love. Collierville was chosen as one of Relocate-America’s Top 100 Places to Live in 2008. Thanks to the residents for being conscious of their footprint on Mother Earth neighbors thrive on a healthy lifestyle in Collierville. Land is used efficiently, shared parks and public areas are plentiful while industry and economic opportunity emphasize healthy environmentally sound practices. Regionally, Collierville is considered the premier address for those seeking affordability, appreciation and stability.

Way of Life

Offering a variety of housing in neighborhoods connected by beautiful unique trails and paths people of different ages, income levels and cultural background can meet daily needs within a short walk or drive.  Young children can walk home from award winning schools with their parents, youths with their friends, their homes are all within a short walk on well-connected, low speed streets with sidewalks and native trees. Shopping and dining are plentiful; be it at the historic downtown College Square, voted the “Best Main Street in America” by Parade Magazine, or Avenue of Carriage Crossing an open air regional lifestyle center. Collierville’s community parks Wolf River Corridor, Frank Road Park and WC Johnson Park are bridges that connect like minded people to vibrant recreational activities!

Buy a Lifestyle

Residents of Collierville Tennessee enjoy a growing economy and vacation-like lifestyle! Thanks to easy access to shopping and dining, top ranked schools and recreational activities that make this city is an award winning community. An abundant of residential housing options exist in Collierville: from beautiful single family homes, large lot estates, emerging multi-family units, town homes, historic downtown living, to independent and assisted living facilities. Smaller, older houses are still found in the heart of Collierville, mainly between Byhalia Road and Collierville-Arlington on the east and west and Shelton and Highway 72 on the north and south. The Stables by Celtic Manor Homes offers easy access to live, work and play in a community.

Give us a call at (901) 756-8900 or send us an email to explore your options.

Learn more about the opportunities in Collierville Tennesse

Posted in For Home Buyers, Memphis TN Homes For Sale | Tagged , , , , , | Leave a comment

A ‘Buyer’ in Hand Is Worth Two in the Bush

Buyer-In-Hand-STM

In today’s highly competitive seller’s market where there are more buyers than there are listings for them to purchase, some sellers may feel like the ball is in their court.

And they would be right when it comes to choosing which offer to accept, the closing date, or even which improvements the seller is willing to make to the home prior to selling.

One thing to remember though is that there is always a line that shouldn’t be crossed.

Interest rates could change, financing might not go through, the appraisal might not come back at the price that you have agreed to. These are all opportunities to work with your buyer to make sure that the sale still happens.

You may think that because buyer demand is high right now, that you could choose to make your buyer jump through hoops. But what happens if they reach their limit and need to walk away? You’re starting over… weeks, maybe months later… and other buyers may wonder what’s wrong with the house that the deal fell through.

The Golden Rule

We were all taught from a young age to “treat others as you would like to be treated”.This shouldn’t change once you have a buyer who seems as though they would do anything to buy your home.

By: KCM Crew

Posted in For Home Sellers | Tagged , , , , , , | Leave a comment

101 Things To Do In Memphis #13: Hog & Hominy

logoNamed one of the 12 Most Outstanding Restaurants of 2013 by GQ Magazine, Hog & Hominy is a true Memphis original.  Featuring a fusion of Italian and Southern cooking, Hog & Hominy continues to win award after award.  With a bright and cheerful interior and bocce court outside, it’s easy to see why they’ve won such a loyal following in such a short period of time.

Menu items are incredibly affordable as they are meant to be ordered and shared with a table of friends or loved ones, which makes it easy to leave with your pants feeling extra tight.  Menu favorites include Red Eye Pizza, Poutine, and Shrimp & Grits.  And don’t forget to save room from the Peanut Butter Pie, a specialty they are known for!

Finally, don’t forget about their bar.  Hog & Hominy has a daily happy hour from 4 – 6 pm that features $1 of draft beers and well drinks as well as free popcorn at the bar.  They also feature a different $6 sparkling cocktail each day.  Yum!

I can’t do this fabulous restaurant justice with my words.  You just need to go and try it out for yourself.  But please make reservations ahead of time or else you might have a long wait ahead of you.  To take a look at their mouth-watering menu, click here. Italian Cooking, Southern Roots!

By and photo credit: hogandhominy.com

Posted in Dining Out | Tagged , , , , , , | Leave a comment

Happy Mother’s Day!

melissa mothers day

A halo that reflects a life of wisdom, kindness, and caring. Eyes that sparkle with pride and show how much she believes in you. Shoulders that have been slept on and wept on and carried a world or two. Arms that never run out of hugs. Hands that know just when to hold on and when to let go. A mind filled with amazing things, from fairy tales to family tails and long-ago stories of you. A smile that can jump right into your heart and warm you faster than hot chocolate. A heart of gold that holds more love than you can possibly imagine.

– anonymous

Posted in We Know Memphis | Tagged , , , | Leave a comment

1586 Wood Farms Drive- A Charming 4 Bedroom Estate!

Welcome home to 1586 Wood Farms Drive, an amazing Cordova home that you will have to see to believe! Situated in the sought after Riverwood Farms Subdivision with a 35 acre lake, jogging trails, 3 ponds, well landscaped grounds and entry as well as 24 hour security patrol. Built for entertaining, this spacious home offers impressive formal rooms, plus comfortable everyday living spaces. Quality features include gleaming hardwood floors, fireplace, exceptional crown molding, 4 bedrooms, 2.5 baths, office, remodeled kitchen, storm doors, 2 car garage, and so much more! Enjoy comfortable everyday living in the captivating great room flaunting a vaulted ceiling with skylights, and an eye catching cozy fireplace, perfect for those cold winter nights.  Cooking will be a delight in this incredible eat-in kitchen with cabinet and counter space galore, desirable granite countertops, pantry, island with bead board, full complement of appliances including double ovens, stainless steel dishwasher, double sinks and cook-top. In addition, this kitchen offers a sunny breakfast area, which is a great spot to enjoy your morning coffee. Family and friends will enjoy gathering in the splendid living room located off the entry illuminated with tons of natural light beaming in through the windows, plus built-in bookshelves. Host the finest dinner parties in the romantic dining room embellished with a dazzling chandelier. You will rest easy in your master retreat featuring a spa-inspired luxury bathroom boasting an elongated dual sink vanity, durable tile floor, his and hers closets, brushed nickel faucets and light fixtures, skylight, relaxing whirlpool tub and a divine walk-in shower.  This home offers three additional bedrooms upstairs. Work from home in your very own office complete with cabinets, and built-in desk. The laundry room offers cabinets, and a utility sink. Relax outside in the beautifully landscaped, park-like backyard with a delightful patio, perfect for cookouts and parties! This amazing home also offers a third floor attic with permanent stairs, large bedrooms, faux blinds, and not to mention it is just minutes from shopping and dining!

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.

 

Posted in Memphis TN Homes For Sale | Tagged , , , , , , , , , , | Leave a comment

Housing Inventory Disappearing

Inventory-STM

The price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report which gives insight into today’s market conditions.

Inventory Levels & Demand

Sales of existing homes rose 5.1% month-over-month in March and are 1.5% higher than this time last year. Sales rose in all four major regions in March.

Total unsold housing inventory is 1.5% lower than March 2015 at a 4.5-month supply and remains well below the six months that is needed for a historically normal market.

Consumer confidence is at the highest level in over a decade. Pair that with interest rates still below 4%, programs available for down payments as low as 3%, and you have an attractive market for buyers.

Homes sold in March were on the market for an average of 47 days and 42% of properties sold in less than a month.

Prices Rising

March marked the 49th consecutive month of year-over-year price gains as the median price of existing homes sold rose to $210,700 (up 5.7% from 2015).

So What Does This Mean?

The chart below shows the impact that inventory levels have on home prices.

Housing Inventory Disappearing | Simplifying The Market

NAR’s Chief Economist, Lawrence Yun gave some insight into the correlation:

“Buyer demand remains sturdy in most areas this spring and the mid-priced market is doing quite well. However, sales are softer both at the very low and very high ends of the market because of supply limitations and affordability pressures.”

Bottom Line

If you are debating putting your home on the market in 2016, now may be the time. The number of buyers ready and willing to make a purchase is at the highest level in years. Let’s meet up so we can get the process started.

By: KCM Crew

Posted in For Home Sellers | Tagged , , , , , , | Leave a comment

1626 Horseshoe Bend Trail – Brand New Collierville Home!

:

Welcome home to 1626 Horseshoe Bend Trail, a spectacular, brand new Celtic Manor built home situated in The Stables Subdivision in the sought after Wolf River Corridor of Collierville! Built for entertaining this home offers an open floor plan with impressive formal rooms, plus comfortable everyday living spaces. Quality features include 4 bedrooms with 2 down, 4.5 baths, massive game room upstairs, granite galore, gleaming white oak hardwood floors, incredible covered porch with a wood burning Isokern fireplace, GE Profile stainless steel appliances, GE Monogram Professional Series 36″ gas range with 6 burners, soaring smooth ceilings, soft close drawers and doors, incognito custom closets, all bedrooms with attached baths, spacious great room with a cozy gas log fireplace with a custom wood mantel and stone veneer, 3 car garage, crown moulding, 2 A.O. Smith gas water heaters, 1 gas line to the porch for a grill, Trane XR14 Seer HVAC units, Tamko Heritage architectural 30 year asphalt roof, custom made cedar box beams and so much more! Not to mention this magnificent home is in the sought after Collierville School District…Crosswind Elementary, Schilling Farms Middle and Collierville High. If a private school is what you desire it is right around the corner from Briarcrest and St. George’s. This prestigious neighborhood is close to parks…Frank Road Park and WC Johnson Park and tons of Shopping…the Collierville square and Avenue of Carriage Crossing. Don’t miss out on this spectacular 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.

 

Posted in Memphis TN Homes For Sale | Tagged , , , , , , , , , , , | Leave a comment