March 2020 Real Estate Update in Shelby County

Stimulus Checks, Unemployment and other funds too!

In these times of uncertainty, people are looking for relief and waiting for stimulus checks of $1,200.  Rents will not be paid, mortgage will not be paid, homeowners are looking for forbearance. But remember people: This too shall pass. And when it does, the landlord will want their back rent. The mortgage company will put the missed payments on the backend of the loan, and they will be paid back, eventually. So, my statement “it’s better to own than rent” this current time is a perfect example. Because the landlord will race to file an eviction, when the stay at home mandate is lifted, and if you don’t have the funds, more than likely you will be Evicted, so pay something on your rent if you can. That $1,200, the unemployment checks and small business loans, that you will get is not for “letting the good times roll” it should pay your rent or mortgage, purchase food and necessities. MLGW is not cutting off utilities at this time; be prepared to pay up when this is over.  Shout out to the tenants that are still paying their rent, because they are still employed or still get their same fixed income check. You guys rock and will be ahead of the game when all of this is over!! If you are not going to pay your bills, build your mattress money up so when it’s time to divvy up, you got it. During these times of uncertainty learn to SAVE your money. Let’s pray we don’t have to start bartering, but it is what it is, and I am a survivor as you are too. these are just some thoughts I have at this time. Until next time Peace.

Home Inspections during COVID 19

Spencer Ernest, Owner of Ace Central Property Inspection and Athena Horton, Marketing Director will discuss their exceptional services. They use exemplary measures to keep everyone safe while supplying top of the line services. While homes are still coming to the market and transactions are closing daily in the Coronavirus Pandemic,  there are many steps that need to be taken before we get to the closing table.  A few of the steps in the Home Buying process are: * Home Inspections, which we will discuss today * Home Repairs * Pest Inspection, other inspections * And appraisals, The Ace Central Property Inspection Team is here to enlighten you on the process!

March 2020 Real Estate Update in Shelby County

March home sales are up in Shelby County, thanks to all for doing your part and practicing Safety First and social distancing.  The Governor still want Tennesseans to Stay at Home.   MARCH HOME SALES ARE UP ACROSS THE BOARD! 1.  SHELBY County home sales rose 4% with 1,520 home sales recorded 2.  Home Sale Prices were up 13% for the month to $185,264 COMPARED TO LAST MARCH 3.  The Median Sales Price was $144,679 up 18% from last year. 4.  The 1st Quarter, homes sales are up 2% and the Qtr average sales price is up 10% compared to the 1stqtr of last year. 5.  Foreclosures activity fell by 50%, LET’S SEE IF IT WILL GO DOWN LOWER IN THE MONTHS TO COME 6.  New Home Sales were up 5% in March with 69 units recorded, average new home sale price rose 19% for the month to $437,237 7.  In Mortgage trends & lending; Community Mortgage corp was the top lender for March 8.  RESIDENTIAL Mortgage sales were up 3% in March with 924 loans. 9.  Collierville Area 38017 had the most residential loans with 76 mortgages averaging $363,939 10.  Commercial sales were up 20% with 83 sales record in February totaling 107 Million 11.  Fayette County home sales activity was up 61% in March with 105 sales vs 85 March 2019 12.  Tipton county home sales up 24% As you can see Real Estate transactions are happening every day.  Real Estate Professionals are getting the job done through Social Distancing, following the CDC guidelines, using Video, and virtual tours and many other internet platforms to get you to a safe closings.  So Let’s Pray that April become a success too.

Home Buyers Consultation

While practicing Social Distancing this Podcast is to Educate, Motivate and Empower you on your journey to homeownership.  *  2 Million New Black Homeowners In 5 Years *. Choosing a Lender *  The Different Loans *. Down Payment Assistance *. Home Search *  Showing of Properties *. Writing Contract *. Your Team  *  Home Inspection * Home Appraisal *. Repair Proposal * Final Walk Through *. Closing On Your New Home

The Power to enrich ourselves with knowledge during the Pandemic.

The M-Town Realtist Podcast is to educate, MOTIVATE & empower!