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National Mortgage Rate Trends

The following information is from bankrate.com ( https://www.bankrate.com/mortgages/mortgage-rates/ ) With rates on the rise, it’s important to shop around for mortgage offers before committing to a loan.  On Monday, August 29, 2022, the current average 30-year fixed-mortgage rate is 5.89% , increasing 11 basis points since the same time last week.  If you're planning to refinance, today's national average 30-year refinance rate is 5.85% , rising 9 basis... Read More
Posted by Emily Keplinger at Monday, August 29, 2022

Are Housing Trends Shifting?

Home sales have been more than brisk for the last few years. As interest rates reached historic lows, more first-time homebuyers entered the market. More buyers in the market has meant more competition for the existing home inventory. As per the universal law of supply and demand, it also has meant that housing prices were on the rise. Often prospective buyers found themselves making above-listing offers in hopes of securing a successful bid. But is that true in the housing market today? ... Read More
Posted by Emily Keplinger at Monday, August 15, 2022

MAAR Statistics for July 2022

From the Memphis Area Association of Realtors Memphis Area Association of Realtors (MAAR) tracks home sales in the Memphis area each month. As of 2011, the official market reports are pulled around the first of each month for sales recorded in the previous month, e.g., January sales numbers are pulled the first week of February. Monthly Multiple Listing Service (MLS) sales reports are generated around the 15th of each month for sales in the previous month. According to the... Read More
Posted by Emily Keplinger at Monday, August 8, 2022

Memphis Area Association of Realtors report for June 2022

Here's the Memphis Area Association of Realtors report for June 2022, nicely summed in an article by Omer Yusuf of The Commercial Appeal. It details the four main things you should know about the current Memphis real estate market. https://www.commercialappeal.com/story/money/business/2022/07/12/memphis-real-estate-prices-sales-inventory-june-2022/7824815001/ Read More
Posted by Emily Keplinger at Thursday, July 14, 2022

Benefits of Using a Realtor

Sowell agent Leigh Martin is one of the top selling agents in the Memphis area.   Just in the last quarter, Leigh has been recognized as the Top Listing agent, the Top Selling agent and the Top Closing agent at Sowell Realtors. When asked what are the benefits for people who work with an agent, here’s what she had to say:   1. You sell for more money   2. You get a much larger audience of potential buyers   3. A seasoned agent has a network... Read More
Posted by Emily Keplinger at Wednesday, June 22, 2022

Memphis is HOT!

Memphis is a HOT, HOT, HOT real estate market right now.  According to a recent article by Jeff Rohde ( https://learn.roofstock.com/blog/memphis-real-estate-market ), “Memphis is ranked as one of the top 5 fastest-selling real estate markets in the US. Homes are selling fast, with fewer listings available and increased competition between homebuyers and investors.” “Housing in Memphis has been in short supply for quite some time. A recent article in the Memphis... Read More
Posted by Emily Keplinger at Tuesday, June 7, 2022

Shelby County Housing Market - 2022

According to  rockethome.com , since last year, Shelby County has remained a Seller's Market. Translation, prices tend to be higher and homes sell faster. Based on all homes sold in the last 12 months (since April 2021), the median price for all homes sold in Shelby County has edged upward, by 12.6 %, or $28,592. Here’s a chart that shows the price increase by the number of bedrooms.     And although the housing inventory is still low, the number of houses... Read More
Posted by Emily Keplinger at Thursday, May 19, 2022

Costs Associated with Selling a Home

Spring is traditionally a busy time for our local real estate market. Many homeowners are getting ready to sell their home. But there are a few things to note before taking that plunge…like what costs are associated with selling a home. In today’s competitive market, sellers want to be sure that they put their best foot forward as they list their property. That often means taking a few extra steps to make sure their home is not only priced right, but also that it shows to its... Read More
Posted by Emily Keplinger at Tuesday, April 26, 2022

Buying Versus Renting in 2022

Buying Versus Renting in 2022 What are the advantages of homeownership versus renting? Both options are focused on providing you with a place to live. However, in a rent versus buy study by the listing site Trulia, on a nationwide basis, homeownership was shown to be 35 percent cheaper than renting, over a period of time. A general rule of thumb is if you stay in your house for more than five years, owning is a better deal than renting. According to Money Geek, a site... Read More
Posted by Emily Keplinger at Saturday, April 9, 2022

Tips for Spring Cleaning

Spring is here, at least according to the date on the calendar, and with it comes an urge and a mindset of getting your nest in order. Whether you are preparing to put your home on the market, or just want to make your house feel as fresh as possible -- It's time to shake off any winter doldrums and take a deep breath. Ready to freshen things up? Here are a few easy steps to make your Spring Cleaning successful. Let's do this and you'll feel revitalized... Read More
Posted by Emily Keplinger at Tuesday, March 22, 2022

Getting Your Finances in Order to Buy a House - Steps to Take Now

If you are planning to purchase a house within 4 months, call a lender and start working on the pre-approval.  According to Michael Wiegert, Mortgage Production Manager at Renasant Bank - Memphis, "A credit report is good for 120 days. So, if the credit report looks good, you will be good to go once you find a home. But, if there are any issues on the report, the lender can advise you on what to do to potentially bring up your scores. Every additional... Read More
Posted by Emily Keplinger at Thursday, April 15, 2021

The Impact of a Low Housing Inventory at the Start of the "Busy Season"

According to Sowell agent Ed Beasley, the current inventory of new and existing homes has never been this low in his 40+ years of selling residential real estate.   "The market usually slows down in the winter, but this year we have been very busy and it is difficult to even find houses to show to clients. This is a great time for sellers to list their homes, and if the list price is fair, we have a good shot at getting multiple offers and driving the price up." ... Read More
Posted by Emily Keplinger at Saturday, April 10, 2021

The Importance of Getting Pre-Approved Before Beginning a Home Search

Here's something every prospective homebuyer should know -- you should get pre-approved by a lender before even beginning a home search. Sowell agent Steve Solomon explained, "It is important to know how much a Buyer can really qualify to buy based on their Debt to Income Ratios. A Mortgage Lender will assess total debts versus income and be able to compute how much a Buyer will be approved for once they find their home of choice" Steve continued. "It would be... Read More
Posted by Emily Keplinger at Monday, March 29, 2021

February 2021 Real Estate Update

Basically, there were slightly fewer homes sold in February 2021 as compared to February 2020; HOWEVER, the average sales... Read More
Posted by Emily Keplinger at Friday, March 19, 2021

How to Prepare to Sell Your Home

When seeking to sell your home, we can't overstate the need to make a strong first impression! Sowell agent Shelly Rainwater says this is a fun part of her work, as it helps her bond with her clients.  “I make sure to tell them that I'd have to do the same things with my own house if I were going to sell. I always explain that how we live in a house and how we dress it to sell can be very different. We have to appeal to the masses and compete with HGTV staging,... Read More
Posted by Emily Keplinger at Friday, February 26, 2021

New Wish Lists for Homebuyers

As 2021 opens with the pandemic still in place, the “wish list” of homebuyers has shifted a bit. As people are spending more time at home, their needs have expanded for space to house home offices and designated work out spaces. Sowell agent Jane Baker said, “Buyers working remotely from the comfort of home may not be so comfortable with parents and kids all in the house at the same time. More separation of space is helpful, so families are often looking for houses with... Read More
Posted by Emily Keplinger at Friday, February 19, 2021

More First-time Homeowners Enter the Housing Market

More first-time homeowners are entering the market since the start of the pandemic... According to Sowell agent David da Ponte-Cooper, "Many people are entering the home buying market as they discover the historically low interest rates and realize, that in many cases, they are able to actually buy a house for less outlay of cash than they would need to gather for first month's rent and security deposit.  A first-time homebuyer can take advantage of the many programs out... Read More
Posted by Emily Keplinger at Monday, February 8, 2021

The Pace of Housing Prices

With limited supply, and high demand, prices for houses have soared. Housing economists expect price gains to slow in 2021. Nationally, there were average reported gains of 7.3% in prices, but that pace is expected to slow to 4.1% in 2021, according to Corelogic, a leading property data provider. But Sowell agent Shelly Rainwater countered with, “I’m not sure the pace will slow here locally as demand is not lessening and Memphis remains a popular relocation destination due... Read More
Posted by Emily Keplinger at Friday, January 29, 2021

Mortgage Rate Trends

Although they have fallen to historic lows, as the economy improves, mortgage rates are predicted to trend up. The Mortgage Bankers association says rates will average 3.3% in 2021. “That means the refinancing boom of 2020 should slow dramatically by the second half of 2021,” said Michael Fratantoni, chief economist at the Mortgage Bankers Association.  However, Sowell agent Alan Crenshaw adds this caveat, “Even with rates averaging 3.3%, that is... Read More
Posted by Emily Keplinger at Sunday, January 17, 2021

Upsizing During COVID-19

The pandemic has affected the real estate market in more ways than one. For instance, many buyers have been looking for bigger homes with home offices, home gyms and spacious yards, to make their time during quarantine more tolerable. Sowell agent Leigh Martin shared her experience saying, “I've had a lot of clients who wanted to have a home with a swimming pool because they knew they were going to be stuck at home during the summer and wanted a way to entertain their kids or have... Read More
Posted by Emily Keplinger at Monday, January 4, 2021

Getting the Most Bang for Your Buck

Thinking about selling? Wondering how to prepare your home for the market? There are several things that you can do now to get your home ready — and the preparations don’t need to feel like drudgery. To lighten your mood, adopt the mindset that you are getting ready to have a party at your house. Then make a list of all those things you need to do “to entertain.” A thorough cleaning should be at the top of your list, including a Sort and Sift Session (or two) to... Read More
Posted by Emily Keplinger at Friday, August 21, 2020

How to Win in a Multiple Offer Situation

  The current real estate market is Hot! Hot! Hot!  Inventory is low, so that means there are more people looking at and bidding on the same properties. We’re seeing houses sold within a day of being listed, and some even without hours. So what can you do to enhance your chances of getting the home you want when faced with a multiple offer situation? Linda Sowell, founder of Sowell Realtors, always advises her clients to do their own research to... Read More
Posted by Emily Keplinger at Tuesday, August 18, 2020

Pandemic Impact

People are wondering what effect this current pandemic is having on the local real estate market. Here’s what we know…   According to the Pulse Report from Chandler Reports:   Home Sales - It’s a mixed bag. Overall, home sales were down. HOWEVER, the sale prices were actually up.   April home sale activity fell 17% in Shelby County with 1,359 home sales recorded compared to 1,639 home sales recorded in April... Read More
Posted by Emily Keplinger at Thursday, May 7, 2020

Time to Buy - Mortgage Rates at an All-Time Low

Even with the Coronavirus wreaking havoc on our everyday lives, there is still a bright spot that you can take advantage of — historically low mortgage rates. According to Doug Whiteman, Editor-in-Chief of Money Wise , “The Federal Reserve is keeping a key interest rate at an all-time low — which is helping to push mortgage rates to new lows. Rates on home loans have plummeted to a new record: an average of less than 3.25% for 30-year fixed-rate mortgages, according to a... Read More
Posted by Emily Keplinger at Sunday, May 3, 2020

How we are coping with the novel Coronavirus

At Sowell Realtors, we want you to know how we are dealing with the sudden and dramatic changes we are experiencing due to the novel Coronavirus.  First and foremost, we are still helping our clients buy and sell their homes — every day! We are doing so using a variety of precautions to protect our clients and prospective clients.  When we show a home, our agents wear gloves and shoe covers. We maintain correct social distancing and wear face masks. Our agents also... Read More
Posted by Emily Keplinger at Sunday, April 12, 2020

Quarantine Clean

As people are spending more time at home during this Coronavirus pandemic, many folks are taking the opportunity to “sort and sift.” Beyond the requisite extra cleaning for heath and safety reasons, they are making their homes tidier.    At Sowell Realtors, we want to encourage homeowners who are thinking about putting their house on the market to think of this as a chance to “Quarantine Clean.”   Spring cleaning is an annual rite for many... Read More
Posted by Emily Keplinger at Friday, April 10, 2020

Congratulations: Linda Sowell

We’re delighted to announce that our very own Linda Sowell of Sowell Realtors was featured on Realtor.com for her listing of a beautiful mid-century modern home.  Located right here in Memphis’ Morning Side Park, this property was on the market for less than two weeks before it went under contract!  It was built by the architect Thomas Faires as his private residence and has withstood the test of time.  It was a hot commodity, and we’re... Read More
at Monday, April 6, 2020

Tips for Buyers and Sellers During COVID-19 Crisis

In these uncertain times caused by the COVID-19 Virus, people still have the need to buy and sell their homes. However, there are new obstacles to overcome. The Safer in Place and Social Distancing rules make showing property challenging. Many sellers are working from home with children home from school. Buyers are nervous about being exposed to the virus. Here are a few things that can be done to make the process smoother. Buyers You should get prequalified before you start to... Read More
Posted by Cindy Jayne at Friday, April 3, 2020

5 Things to Consider if You Want to Sell Your Home

What to Do Before Selling Your Home Thinking of moving to a new city, or considering a move to a new neighborhood? Or perhaps you’re just considering downsizing to save space and enjoy a more manageable living area? With low interest rates, high potential to make a handsome profit, high demand for homes, and a significant number of buyers, there’s no better time than now to consider selling. Before you officially list your home, here are a few things to consider. ... Read More
Posted by Kirk Sowell at Tuesday, December 31, 2019

Rave Review!

We're always excited to receive feedback from our clients, especially when it comes in the form high praise from another satisified customer. Here is a lovely compliment for our own Becca Dickerson. Way to go, Becca! Becca Dickerson sold our condo for us in December 2018. It sold within 13 days of listing. We were moving from Memphis to Michigan to be near family. This was a big step for us and we were not at all sure how to accomplish it. Becca put us at ease with her... Read More
Posted by Jacob Watkins at Friday, April 26, 2019

Sowell & Co. Holiday Party - 2018

We had a lovely time at the company Holiday Party this year! We are looking forward to a new year in which we will work together to provide excellent service to each of our incredible clients. Happy Holidays from Sowell & Company! Read More
Posted by Jacob Watkins at Wednesday, December 12, 2018

Midtown Mojo 2016

Sowell & Company Realtors was proud to be a part of Midtown Memphis Development Corporation's 2nd annual Midtown Mojo Awards Bash on Wednesday, March 30th.  This year's honorees were Ardent Studios, Ekundayo Bandele - of Hattiloo Theater, Broad Avenue Arts District, Indie Memphis, Wiles-Smith Drugstore, Scott Morris - of Church Health Center, and June West - of Memphis Heritage.  All in attendance seemed to have a wonderful evening, and we are so glad to have... Read More
Posted by Jacob Watkins at Tuesday, April 5, 2016

Agent of the Month

Congratulations to Leigh Martin, Sowell & Company's "Triple Crown" Agent of the Month for April 2015!  Leigh was our top agent for Listings, Sales, and Closings.  Keep up the good work, Leigh! Read More
Posted by Jacob Watkins at Friday, May 8, 2015

Mojo of Midtown Awards Bash 2015

For ticket information, contact Playhouse on the Square, Otherlands Coffe, or Sowell & Company Realtors. Read More
Posted by Jacob Watkins at Wednesday, March 4, 2015

Exciting News for Home Buyers

Follow the link below to read about a recent announcement from Fannie Mae and Freddie Mac. http://www.keepingcurrentmatters.com/2014/12/09/breaking-news-fannie-and-freddie-formally-announce-3-down-programs/ Read More
Posted by Jacob Watkins at Wednesday, December 17, 2014

More Good News for Memphis Real Estate

The following article appeared in the April 18-24, 2014 issue of the Memphis Business Journal.  " Memphis-area home sales surge in March The weather is not the only thing warming up with the arrival of spring in the Mid-South. Memphis-area homes sales in march vaulted 21.3 percent from February, when there were 987 total sales recorded in the Memphis Area Association of Realtors' property records database.  March was good for sellers and a welcome change from the past few... Read More
Posted by Jacob Watkins at Tuesday, April 22, 2014

2014's Hottest Housing Markets

In this article from CNN.com, Memphis is named among the hottest housing markets for 2014!  Click the link below to find out more. http://money.cnn.com/gallery/real_estate/2014/01/23/hottest-housing-markets/index.html?hpt=hp_t3 Read More
Posted by Jacob Watkins at Monday, January 27, 2014

Improvement in the Midtown Home Market

Here is an interesting article taken from the Memphis Business Journal. http://c.bizjournals.com/ct/c/66438591/NDkzNDkwOTE6OjU3Njk0MzE Read More
Posted by Jacob Watkins at Monday, January 13, 2014

Chasing Rainbows?

Here's a rainbow that pays off in the end at Sowell & Company Realtors!! Read More
Posted by Jacob Watkins at Friday, August 23, 2013

Summer in Memphis

It is Summer in Memphis! That means sunshine, triple digit temperatures, and lots of opportunity for outdoor entertainment.  One of our favorite places to enjoy summer is at the Levitt Shell in Overton Park.  This year Sowell and Company has joined up with many other local businesses as a sponsor of the free summer concert series at the Shell.  There are shows of a variety of styles and talents throughout the summer.  Just check out the Levitt Shell website for more... Read More
Posted by Jacob Watkins at Thursday, June 13, 2013

"Shelby County Home Sales Climb 15 Percent" (The Daily News)

"May home sales jumped 15 percent from the same month last year, while the average sales price increased 9 percent.... http://www.memphisdailynews.com/news/2013/jun/11/home-sales-climb-15-percent/   Read More
Posted by Jacob Watkins at Thursday, June 13, 2013

"Selling Homes Becomes ‘Forever Job’ for Dacus" (The Daily News)

"Ashley Dacus got started as a Realtor in the worst possible economic climate, but with residential sales beginning to show signs of life, her optimism has been renewed.DACUS Having survived the Great Recession... http://www.memphisdailynews.com/news/2013/apr/13/selling-homes-becomes-forever-job-for-dacus/ Read More
Posted by John D Smith at Wednesday, April 17, 2013

"Realtors' home sale index up 4.5% in January"

Here is an article from the Commerical Appeal today, Thursday, 28 Februrary 2013.  It offers some encouragement and hope for the industry. " Associated Press WASHINGTON - An index gauging home sales rose in January to the highest level in more than 2.5 years.     The National  Association of Realtors said Wednesday that its seasonally adjusted index for pending home sales rose 4.5 percent last month to 105.9.  That's the highest since april 2010,... Read More
Posted by Jacob Watkins at Thursday, February 28, 2013

Information and Updates

Here is a wealth of information from "Beyond the Headlines" including some important information on the F ederal H ousing A dministration.  Note that on the second (2nd) bullet point under "FHA to hike premiums on mortgages" should read "$271,000" rather than "$625,000".  Pay close attention to the last page; it has some great tips for sellers.  Who knows?: following these simple steps could make the difference in selling your house!! beyond_the_headlines_2713.pdf Read More
Posted by Jacob Watkins at Thursday, February 14, 2013

January 2013 Market Report

There is some very good news about the housing market this month!   january_market_reports-1.pdf january_market_reports-2.pdf   Read More
Posted by Jacob Watkins at Thursday, February 14, 2013

Home value is on the rise for the first time in five years

http://money.cnn.com/2012/07/24/real_estate/home-values/index.htm?source=linkedin Read More
Posted by John D Smith at Thursday, August 2, 2012

FHA Streamlined Refinance- New Program Offered

If you have a client who closed on an FHA loan on or before 5/31/2009, HUD is rolling out a new streamlined refinance program effective 6/11/12 that would be very beneficial to your customer.  Essentially we can offer the borrower: ·        A 30 year fixed rate loan at 3.75% (rates are subject to change each day) ·        We will pay all of their closing costs and escrows (nothing is rolled into the loan) ... Read More
Posted by John D Smith at Thursday, June 28, 2012

The Central Gardens Association will be holding their annual 4th of July Parade! Come out and enjoy

?4th of July Parade Info! Central Gardens Association will stage the neighborhood’s annual old fashioned Independence day Parade on Wednesday, July 4th on Carr Avenue.   The parade begins at 10 a.m. at the corner of Rozelle and proceeds West on Carr to Willett.  Parade registration will begin at 9:15 a.m. at the corner of Rozelle and Carr.   Following the parade, awards will be given in several judged categories, including:  •best costume •best decorated... Read More
Posted by John D Smith at Thursday, June 21, 2012

Come Join Us for the New Overton Square Block Party! Friday, June 15th.

  The New Overton Square is throwing the Ultimate Block Party!  When:  Friday, June 15, 2012 from 3pm 'til  7:30pm Where:  Overton Square on Madison (between Cooper & Florence)     What:  Live Music by Star & Micey, Street Theater, Local Vendors& Demonstrations, Family Activities, and Much More.     Thank you to the City of Memphis for their partnership and our supporters who are helping bring... Read More
Posted by John D Smith at Thursday, June 14, 2012

Shelby County home sales continue upswing

The Memphis area home sales increased 25% this May as compared to last year. http://www.memphisdailynews.com/news/2012/jun/7/homes-sales-continue-upswing/ Read More
Posted by John D Smith at Thursday, June 14, 2012

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