6507 GILLIA CIR Bartlett, TN 38135

Property Site: http://tour.remax-tennessee.com/home/AE8YK3/6507-GILLIA-CIR-Bartlett-TN-10069982

Beautiful 3BR/2.5BA Home in Quiet Neighborhood~Huge Great Room w/Vaulted Ceiling & Lovely Brick Fireplace + Formal Dining Room~Spacious Updated Kitchen w/SS Appliances, Large Island & Walk-In Pantry + Large Breakfast Room~Great Master Bedroom Down w/En-Suite Luxury Bath (Double Vanities, Jacuzzi Tub & Separate Shower) + Walk-In Closet~Wonderful Laundry Room + Half Bath Also Down~2 Large Bedrooms + Full Bath Up~Expandable Area~Fenced-In Backyard w/New Fence & Covered Patio~Owner/Agent (Co-List)

Bedrooms: 3

Bathrooms: 3

Square feet: 2,000

Price: $220,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 5981975 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10069982

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

Should I Sell My House This Year?

If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Survey from the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about!

As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:

In the case of those with a yearly salary of $100,000 or more, the results jumped even higher, coming in at an 82% positive sentiment.

When the study divided the outcomes by region, the results still consistently showed Americans feeling good about selling:

• Northeast: 71% positive
• Midwest: 76% positive
• South: 72% positive
• West: 81% positive

In addition to looking at income and region, the report also divided the results by generation, as shown in the graph below:

As you can see, many believe that, despite everything going on in the world, it is still a good time to sell a home.

According to NAR, the unsold inventory available today “sits at a 3.0-month supply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is good news for sellers, as Lawrence Yun, Chief Economist at NAR, says:

“Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”

Bottom Line

If you’re ready to list your home, you can feel good about the current sentiment in the market. Contact a local real estate professional today to determine the best next step when it comes to selling your house this year.

Source: Keeping Current Matters | The KCM Crew 01282020

5255 COTTONWOOD RD Memphis, TN 38118

Property Site: http://tour.remax-tennessee.com/home/Z6S49S/5255-COTTONWOOD-RD-Memphis-TN-10069493

4BR/2BA Brick Home on Huge Corner Lot ~ Great Room Open to Eat-In Kitchen ~ Laundry Room + Office or Bonus Space Off Kitchen ~ 2 Bedrooms + Full Bath Down ~ Another 2 Bedrooms + Full Bath Up ~ Home is Larger Than It Appears! ~ 2 Car Garage Attached ~ Recently Renovated ~ Fresh Interior Paint + New Flooring ~ AND MORE!!

Bedrooms: 4

Bathrooms: 2

Square feet: 1,200

Price: $80,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 5972417 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10069493

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

How Buyers Can Win By Downsizing in 2020

Home values have been increasing for 93 consecutive months, according to the National Association of Realtors. If you’re a homeowner, particularly one looking to downsize your living space, that’s great news, as you’ve likely built significant equity in your home.

Here’s some more good news: mortgage rates are expected to remain low throughout 2020 at an average of 3.8% for a 30-year fixed-rate loan.

The combination of leveraging your growing equity and capitalizing on low rates could make a big difference in your housing plans this year.

How to Use Your Home Equity

For move-up buyers, the typical pattern for building financial stability and wealth through homeownership works this way: you buy a house and gain equity over several years of mortgage payments and price appreciation. You then take that equity from the sale of your house to make a down payment on your next home and repeat the process.

For homeowners ready to downsize, home equity can work in a slightly different way. What you choose to do depends in part upon your goals.

According to HousingWire.com, for some, the desire to downsize may be related to retirement plans or children aging out of the home. Others may be choosing to live in a smaller home to save money or simplify their lifestyle in a space that’s easier to clean and declutter. The reasons can vary greatly and by generation.

Those who choose to put their equity toward a new home have the opportunity to make a substantial down payment or maybe even to buy their next home in cash. This is incredibly valuable if your goal is to have a minimal mortgage payment or none at all.

A local real estate professional can help you evaluate your equity and how to use it wisely. If you’re planning to downsize, keep in mind that home prices are anticipated to continue rising in 2020, which could influence your choices.

The Impact of Low Mortgage Rates

Low mortgage rates can offset price hikes, so locking in while rates are low will be key. For many downsizing homeowners, a loan with a shorter term is ideal, so the balance can be reduced more quickly.

Interest rates on 10, 15, and 20-year loans are lower than the rates on a 30-year fixed-rate loan. If you’re downsizing your housing costs, you may prefer a shorter-term loan to pay off your home faster. This way, you can save thousands in interest payments over time.

Bottom Line

If you’re planning a transition into a smaller home, the twin trends of low mortgage rates and rising home equity can kickstart or boost your plans, especially if you’re anticipating retirement soon or just want to live in a smaller home that’s easier to maintain. Consult a local real estate professional today to explore your options.

Source: Keeping Current Matters | The KCM Crew | 01222020

6154 MOLSONWOOD CV Bartlett, TN 38135

Property Site: http://tour.remax-tennessee.com/home/4M6TA8/6154-MOLSONWOOD-CV-Bartlett-TN-10069380

Gorgeous 4BR/2.5BA Home in Bartlett~Formal Dining Room Open to Great Room w/Lots of Natural Light~Beautiful Eat-In Kitchen w/Tons of Cabinet Space, Double Ovens, Island & Wrap-Around Breakfast Bar~Hearth Room w/Gas Fireplace & Built-In Shelves~Master Bedroom Suite w/Luxurious Master Bath & Double Walk-In Closets~BR 2 & 3 w/Walk-In Closets & Jack-n-Jill Bath~4th Bedroom (Or Office) + 1/2 BA + Laundry Room Also Down~Apprx 600 Sq Ft Expandable w/Plumbing~Covered Patio + Huge Backyard~AND MORE!!

Bedrooms: 4

Bathrooms: 3

Square feet: 2,600

Price: $260,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 5969634 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10069380

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

2274 N FOREST HILL-IRENE DR Unincorporated, TN 38016

Property Site: http://tour.remax-tennessee.com/home/EM2GQS/2274-N-FOREST-HILL-IRENE-DR-Unincorporated-TN-10069199

Gorgeous 4BR/3BA Home in Quiet Neighborhood~Formal Dining Room w/Lots of Natural Light~Beautiful, Open Living Space~Great Room w/Fireplace & Vaulted Ceilings~Stunning Eat-In Kitchen w/Tons of Cabinets, SS Appliances, Island w/Breakfast Bar & Pantry~Master Bedroom Suite Down w/Walk-In Closet & Luxurious Master Bath W/Jacuzzi Tub & Walk-Through Shower~2nd BR + Full BA + Laundry Room Down~Loft Space + 2 Spacious BR + Full BA + 2 Bonus Rooms Up~Large Fenced-In Backyard w/Covered Patio~AND MORE!!

Bedrooms: 4

Bathrooms: 3

Square feet: 2,800

Price: $324,900

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 5966095 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10069199

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

Housing Inventory Vanishing: What Is the Impact on You?

The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains:

“Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018.”

The report also revealed that the decline in inventory stretches across all price points, as shown in the following graph:

George Ratiu, Senior Economist at realtor.com, explains how this drop in available homes for sale comes at a time when more buyers are expected to enter the market:

“The market is struggling with a large housing undersupply just as 4.8 million millennials are reaching 30-years of age in 2020, a prime age for many to purchase their first home. The significant inventory drop…is a harbinger of the continuing imbalance expected to plague this year’s markets, as the number of homes for sale are poised to reach historically low levels.”

The question is: What does this mean to you?

If You’re a Buyer…

Be patient during your home search. It may take time to find a home you love. Once you do, however, be ready to move forward quickly. Get pre-approved for a mortgage, be ready to make a competitive offer from the start, and understand that a shortage in inventory could lead to the resurgence of bidding wars. Calculate just how far you’re willing to go to secure a home, if you truly love it.

If You’re a Seller…

Realize that, in some ways, you’re in the driver’s seat. When there is a shortage of an item at the same time there is a strong demand for that item, the seller of that item is in a good position to negotiate. Whether it is price, moving date, possible repairs, or anything else, you’ll be able to demand more from a potential purchaser at a time like this – especially if you have multiple interested buyers. Don’t be unreasonable, but understand you probably have the upper hand.

Bottom Line

The housing market will remain strong throughout 2020. Understand what that means to you, whether you’re buying, selling, or doing both.

Source: Keeping Current Matters | The KCM Crew 01162020

2020 Luxury Market Forecast

By the end of last year, many homeowners found themselves with more equity than they realized, and at the same time their wages were increasing. When those two factors unite, it can spark homeowners to think about making a move to a larger or more expensive home in the luxury space. That said, now is a perfect opportunity to take a look at the forecast for the 2020 luxury market.

Three Things to Think About in the 2020 Luxury Housing Market

1. Prices

The U.S. economy is strong today, with buying opportunities throughout the luxury end of the market. Thomas Veraguth, Strategist at UBS Global Wealth Management, says in Barrons.com,

“There’s a good link between luxury real estate prices and [economic] growth.”

Available inventory is a key element that can impact home prices. At the upper range, the inventory is greater in comparison to the entry-level market, making moving up to a luxury home a growing reality for many buyers right now.

2. Activity in the Market

With more buying opportunities at the higher end, we should start to see an increase in activity. The same article states,

“Affluent homebuyers will start to come out of the woodwork as they find rising luxury rents less appealing and sellers get even more negotiable on price.”

Buyers looking in the luxury market are taking the opportunity to negotiate on price in a segment where there are more choices, too. According to the Luxury Market Report, homes sold for an average of 96.94% of the list price in December.

Buyers are also getting more for their money with greater purchasing power due to the current low interest rates.

3. Buyers Are Coming Back

Keep in mind, buyers are often sellers too, especially those looking to move up. Homeowners with an entry-level home can take advantage of the inventory shortage at the lower end of the market, thus driving higher sales prices for their current homes. Combined with growing equity in the homes they’re listing, it’s a great time for those who are ready to make a luxury move.

The extra equity and greater purchasing power are bringing many buyers back to the market. The same article mentioned that,

“We’ve already seen buyers who’ve been on the sidelines for two years tread back into the market.”

Bottom Line

If you’re considering entering the luxury market, 2020 is shaping up to be a great year for those who are ready to make that move. Contact your local real estate professional to set your real estate plan for the year.

Source: Keeping Current Matters | The KCM Crew 01152020

Buying a Home Early Can Significantly Increase Future Wealth

According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60.

The good news is, our younger generations are strong believers in homeownership.

According to a Freddie Mac survey,

“The dream of homeownership is alive and well within “Generation Z,” the demographic cohort following Millennials.

Our survey…finds that Gen Z views homeownership as an important goal. They estimate that they will attain this goal by the time they turn 30 years old, three years younger than the current median homebuying age (33).”

If these aspiring homeowners purchase at an early age, the Urban Institute study shows the impact it can have.

Based on this data, those who purchased their first homes when they were younger than 25 had an average of $10,000 left on their mortgage at age 60. The 50% of buyers who purchased in their mid-20s and early-30s had close to $50,000 left, but traditionally purchased more expensive homes.

Although the vast majority of Gen Zers want to own a home and are somewhat confident in their future, “In terms of financial awareness, 65% of Gen Z respondents report that they are not confident in their knowledge of the mortgage process.”

Bottom Line

As the numbers show, you’re not alone. If you want to buy this year but you’re not sure where to start the process, meet with a local real estate professional who can help you to understand the best steps to take from here.

Source: Keeping Current Matters | The KCM Crew | 01132020

4287 APPIAN DR Unincorporated, TN 38128

Property Site: http://tour.remax-tennessee.com/home/F3RMVY/4287-APPIAN-DR-Unincorporated-TN-10068588

Great 4BR/2BA Home in Quiet Neighborhood ~ Large Great Room & Spacious Kitchen ~ 4 Bedrooms + Office or Bonus Room ~ Screened-In Porch ~ Fenced-In Backyard ~ Previously Rented for $800/Month ~ AND MORE!

Bedrooms: 4

Bathrooms: 2

Square feet: 1,400

Price: $95,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 5952776 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10068588

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

Big Demand for Small Homes

Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different.

Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is not projected to change as we continue into the beginning of the year.

“We expect this downsizing trend to continue in 2020, driven by a confluence of economic and demographic trends.”

Why are smaller homes trending now?

As noted in the article, there are a few main reasons for this demand:

• “Many of today’s younger, millennial home buyers have expressed a preference for denser, more urban homes that are more walkable to shared amenities.”
• “Today’s older homeowners are expressing a desire for smaller, less maintenance-heavy and more accessible (read: less stairs) homes as they age and move into newer homes.”

With these two demographic groups surging through the market, the demand for this type of home is rising. If you’re a homeowner with a smaller-scale house, now may be a great time to sell, as the demand for this end of the market is surely on the rise.

Bottom Line

The demand for smaller houses will continue to rise throughout 2020. Contact a local real estate professional to discuss what the housing inventory looks like in your neighborhood. It might be time for you to take advantage of this trend!

Source: Keeping Current Matters | The KCM Crew 010720