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Category: Real Estate

Learn more about Memphis real estate.

The Top 2 Reasons To Look at Newly Built Homes

February 26, 2025

When planning a move, a newly built home might not be the first thing that comes to mind. But with more brand-new homes on the market and builders focusing on smaller, more affordable options, this type of home may just be the key to crossing the homebuying finish line. Here’s why a new build is worth considering – and how an agent can help you find one that meets your needs and your budget. 1. More Newly Built Homes Are Available Right Now First, let’s break down the types of homes on the market. A newly built home is a house that was just built or is under construction. On the other hand, an existing home is one a homeowner has already lived in. Right now, the number of existing homes for sale is still low. And, if you’re struggling to find something you like because there aren’t that many existing homes for sale, opening up your search to include brand-new homes could really expand your options. That’s because there are more newly built homes available right now than in a typical year (see graph below): From 1983 to 2019, newly built homes made up only 13% of the total inventory of homes for

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How Co-Buying a Home Helps with Affordability Today

February 26, 2025

Buying a home in today’s market can feel like an uphill battle – especially with home prices and mortgage rates putting pressure on your budget. If you’re feeling stuck, co-buying could be one way to help you get your foot in the door. Freddie Mac says: “If you are an aspiring homeowner, buying a home with your family or friends could be an option.” But there are some things you’ll want to consider first. Let’s explore why co-buying is gaining popularity right now among some buyers and see if it may make sense for you too. What Is Co-Buying? Co-buying means buying a home with someone like a friend, sibling, or even a group of people. And, with today’s high home prices and mortgage rates, it’s an option more people are turning to. According to a survey done by JW Surety Bonds, nearly 15% of Americans have already co-purchased a home with someone, and another 48% would consider doing it. Why Consider Co-Buying? The same survey also asked people about the perks of co-buying a home. Here are some of the top responses (see graph below): Sharing Costs (67%): From saving for a down payment to managing monthly payments, buying a home is a big financial step. When you co-buy, you

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More Starter Homes Are Hitting the Market

February 26, 2025

More entry-level homes – also known as starter homes – are popping up on the market. And after several years with very few homes available to buy and prices rising, there are finally some more options for first-time buyers. Inventory Is Increasing – Especially at Lower Price Points Over the past year, the total supply of homes for sale has improved. According toRealtor.com, in November there were 26.2% more homes for sale compared to this time last year, marking 13 months of inventory growth and the most homes available since December of 2019. Interestingly, the growth isn’t spread evenly among all types of homes, though. According to Redfin, starter homes have seen the biggest increase (see graph below): So, if you’re a first-time buyer who’s been sitting on the sidelines waiting because you thought you might never find a starter home in your market, this could be a game-changer. You finally have more options to choose from, and you just might be able to find one in your price range. How an Experienced Agent Helps You Find a Starter Homes Finding the right starter home at the right price point in your local market might feel like an unthinkable challenge,

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Living with HOAs: Are They Worth the Cost and Rules?

January 15, 2025

Homeowners Associations (HOAs) are a significant consideration for many homebuyers, particularly those purchasing property in planned communities, condominiums, or subdivisions. While HOAs can offer numerous benefits, they also come with specific rules, fees, and potential challenges. Understanding how HOAs work and what they mean for you as a homeowner is essential for making an informed decision. This blog post explores the key aspects of HOAs, their pros and cons, and what you should know before buying a home in an HOA-managed community. What Is an HOA? An HOA is a governing body established by a real estate developer or community residents to oversee and manage a specific neighborhood or community. HOAs are typically responsible for maintaining common areas, enforcing community standards, and ensuring the overall aesthetic and functional appeal of the neighborhood. Structure: HOAs are usually managed by a board of directors composed of community residents or developers. Rules and Regulations: HOAs enforce rules, often detailed in a document called the Covenants, Conditions, and Restrictions (CC&Rs). Funding: HOAs are funded through dues or fees paid by homeowners in the community. Pros of Living in an HOA Community Living in an HOA-managed community comes with several potential benefits: Maintained Common Areas

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2024 Real Estate Market Recap: Key Trends and Insights

December 31, 2024

The 2024 real estate market was characterized by dynamic shifts, influenced by fluctuating interest rates, evolving buyer preferences, and regional disparities. This comprehensive overview delves into the year’s most significant trends, supported by pertinent statistics and expert insights. Interest Rate Volatility At the outset of 2024, industry forecasts anticipated a gradual decline in mortgage rates. Contrary to these expectations, rates experienced a notable surge during the spring buying season, reaching unprecedented highs that deterred many potential buyers. This volatility underscored the market’s sensitivity to economic indicators and monetary policies. CoreLogic® Fluctuations in Home Sales Despite the challenges posed by rising interest rates, the market exhibited resilience in certain segments. In November, pending home sales in the U.S. climbed by 2.2%, marking the highest level in 21 months. This uptick was particularly evident in the Midwest, South, and West regions, while the Northeast experienced a decline. Year-over-year, contract signings increased by 6.9%, indicating sustained buyer interest despite financial hurdles. Reuters Regional Disparities The real estate landscape in 2024 was marked by significant regional variations. Affordable areas such as Northern Ireland, the North, and West Midlands witnessed the most substantial price growth, while pricier regions lagged. This trend highlights the ongoing demand

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Understanding Title and Escrow: A Guide for Homebuyers

December 5, 2024

Buying a home involves several steps, each designed to ensure the transaction is fair, secure, and legally binding. Among these, title and escrow play a critical role in protecting both the buyer and seller. Although these terms are often mentioned during the homebuying process, their purpose and function may not always be clear. This guide breaks down what title and escrow mean, why they are essential, and how they work together to make the homebuying process smooth and secure. What Is Title? In real estate, the title is a legal document that establishes your ownership rights to a property. It signifies not just that you own the physical structure but also that you have the right to use and transfer the property as you see fit. However, the transfer of title from a seller to a buyer isn’t always straightforward. It’s crucial to confirm that the title is “clean”—free of defects or unresolved issues that could complicate your ownership in the future. A title search is one of the first steps after your offer on a home is accepted. This process is conducted by a title company or attorney (depending on the state) and involves a thorough review of public

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This information is deemed reliable but not guaranteed. Please contact Meridian Premier Homes to learn more about what properties are for sale and for current real estate information. Equal Housing Opportunity: Equal Opportunity Employer. It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin. We are committed to making this website compliant with the Americans with Disabilities Act. We wish all of our visitors to be able to easily access our services. Accessibility and usability are not always possible in every area of the website or for those visitors using assistive technologies and devices. If, at any time, you have specific questions or concerns about the accessibility of any particular page, please contact us. Meridian Premier Homes. Privacy Policy | Consent Preferences.

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