Housing Market • July 9, 2024

8 Experts Predict Home Prices for 2025

by Craig Melton

home prices, home prices in 2025, home price predictions, 2025 housing market prediction, housing market forecast, real estate trends, Jonesboro housing market, Jonesboro real estate

Lately, there’s been a lot of buzz about what’s next for home prices, especially with 2024 shifting gears in some markets. Here in Jonesboro, we saw the number home sold increase by 3.6% and the median home prices increase by 2.6% during the first six months of 2024 in comparison to the first six months of 2023.

But what about the future of the market? Listen, no one has a crystal ball, but experts have released early predictions for home prices in 2025. Let’s dive in.

The Big Picture: National Home Price Predictions for 2025

It’s hard to believe 2024 is halfway over! Looking ahead to 2025, experts predict a slowdown in the national housing market’s breakneck pace. Now, that doesn’t mean prices are plummeting. In fact, the average forecast anticipates a +2.5% increase in national home prices for 2025. That would mark the 13th consecutive year of home price growth.

Home projections vary among major groups, with predictions running from a 0.3% increase to 4.4%

Goldman Sachs: +4.4% growth in home prices in 2025
Wells Fargo: +4.3%
Mortgage Bankers Association: 3.3%
Morgan Stanley: 3.0%
Zelman & Associates: 2.3%
Fannie Mae: 1.5%
Freddie Mac: 0.5%
Moody’s Analytics: 0.3%

It’s Not a One-Size-Fits-All Picture

While national trends provide a useful overview, real estate is inherently local. Jonesboro might not follow the national average. Local factors such as the labor market, inventory levels, and specific regional economic conditions will play a significant role in shaping the housing market here.

For instance, areas with strong job growth and limited housing supply may continue to see higher price appreciation, while other regions may experience more modest gains or even slight declines.

Some of the key factors I watch every month include:

Inventory Levels
Interest Rates
Average Days on the Market
Median Sale Prices
List-to-Sale Price Ratio

If you want to be updated on the local market data, sign up for your neighborhood news here.

Navigating the real estate market in Jonesboro in 2025 requires a blend of national insights and local expertise. By understanding the broader trends and keeping an eye on local market dynamics, you can make informed decisions whether you’re buying or selling a home. Stay tuned for more updates and feel free to reach out with any questions or for personalized advice on your real estate journey.

If you don’t already follow me on social media, check out my Facebook and Instagram pages.

Source: ResiClub

Sellers • July 3, 2024

Selling a Home: More Stressful Than Saying ‘I Do’?

by Craig Melton

Selling a home is considered more stressful than planning a wedding.

Yes, you read that right! According to a recent study by Opendoor, selling a home is 35% more stressful than planning to exchange vows. And for many homeowners aged 55 and over, selling a home is often intertwined with major life transitions, adding another layer of emotional complexity.

This statistic might surprise some, but it highlights the significant emotional and logistical hurdles involved in selling a property. Whether you’re downsizing, relocating, or simply embarking on a new chapter, understanding the potential stressors and planning effectively can make a world of difference.

Why is Selling a Home So Stressful?

Among 55+ Americans, selling a home (65%) ties with starting a new job (65%) as the most stressful life events. These events are considered more stressful than buying a home (62%) and planning a wedding (48%).

Women in this age group find home real estate transactions significantly more stressful than men, with 72% of women citing selling a house as the most stressful event compared to 57% of men.

Here are just a few of the reasons selling a home can be overwhelming:

Emotional Attachment

Homes are more than just structures; they hold memories and sentimental value. Of those surveyed, 66% feel attached to their homes, and 56% have lived in their homes for 15 years or more. This makes leaving a home a bittersweet mix of emotions, making the selling process emotionally taxing.

Uncertainty and Financial Pressure

Selling a house involves many uncertainties, such as finding a buyer, negotiating prices, and dealing with market fluctuations. The financial stakes are high, and the pressure to get the best deal can add to the stress.

Coordination of Logistics

From staging and showing the home to handling paperwork and moving logistics, the process requires meticulous planning and coordination. This can be overwhelming, especially for those who are also juggling other life responsibilities.

Tips for Managing Home Selling Stress

Understand Your Selling Options

Knowing your options and planning ahead can significantly reduce the stress of selling a house. Partnering with a real estate professional allows them to handle marketing, negotiations, and paperwork—not to mention an average of $34,000 more in profit, according to a recent study. Check out my previous blog: The Costs of Selling a Home (and How to Maximize Your Profits)

Another option is iBuyers, which is when companies buy homes directly. These often offer a fast and convenient sale, though offers are typically lower than a traditional sale. Selling yourself (FSBO) requires a significant effort in marketing, negotiations, and legal aspects. This can save on agent commissions, but typically results in a lower sale price.

Set Realistic Expectations

Understanding the current market conditions and setting realistic expectations can prevent disappointments. Today’s market is not like the one in 2021-2022! If working with a professional, discuss your goals with your real estate agent and be prepared to make changes based on what’s happening locally.

Simplify the Process

Consider decluttering and staging your home early in the process. A well-presented home can attract buyers more quickly, reducing the time your home is on the market. Additionally, having all necessary documents organized and ready can expedite the closing process.

Final Thoughts

Selling a home is undoubtedly an emotional experience. However, understanding the factors that contribute to this stress and implementing strategies to manage it makes the process more manageable. By planning ahead and setting realistic expectations you can navigate the home selling journey with greater ease and confidence.

Sellers • June 30, 2024

The Costs of Selling a Home (and How to Maximize Your Profits)

by Craig Melton

selling a home, home seller costs, costs to sell a home, maximize home sale profits, avoid seller regrets, how much does it cost to sell a house, should I use a real estate agent to sell my house

Let’s face it—between repairs, closing costs and commissions, everything associated with the costs of selling a home can add up fast. Case in point: homeowners reported spending $54,616 when selling their homes, according to a recent survey from Clever Real Estate—an amount that was surprising to 42%.

Despite the costs, the majority (64%) made a profit on the sale of their home, with the median profit totaling $100,000.

With the right strategy, you can maximize your profits and minimize regrets. In fact, the study also showed that sellers who worked with a real estate agent walked away with an average of $34,000 more than those who went it alone. That’s a pretty compelling argument for having a pro in your corner!

Rather than just taking my word for it, let’s dive into:

The costs associated with selling a home
Regrets home sellers reported
How you can avoid common mistakes

The Costs of Selling a Home

Selling a home at the highest possible price involves various costs. Here’s what survey respondents said they paid for, on average:

Listing agent commission: $11,136
Buyer’s agent commission: $10,467
Repairs: $10,000
Closing costs: $8,000
Concessions: $7,200
Moving expenses: $3,250
Marketing: $2,300
Staging: $2,263

Keep in mind that every transaction is different—some of these costs are negotiable (like agent compensation), some may not be needed for every property, and some could be lower or higher based on the condition of the home or what’s happening in the local market.

Common Regrets of Home Sellers

Regret was a common sentiment among home sellers who participated in the survey, with 89% expressing some sort of regret post-sale, including 92% of those who sold without an agent.

The most common regrets about the home selling process included:

Selling too quickly (30%)
They miss their old home (29%)
Not selling for enough money (28%)
Not making enough pre-listing repairs (26%)
Making too many concessions (26%)
Failing to stage the home (25%)

Now, let’s get into something I’m really passionate about—the regrets home sellers had about their agent. Half of those surveyed say their agent “failed them” in some way. This is why who you work with matters so much.

Here’s what respondents had to say about their agent:

Agent’s advice let them down (57%)
Agent made mistakes with their listing (53%)
Agent didn’t communicate enough (50%)

So, with all these regrets floating around, how can you make sure these things don’t happen to you?

How to Maximize Your Home Sale

Making the most of your home sale starts with working with the right real estate agent (remember, agents help homeowners get an additional $34,000 for their home sales). I always encourage sellers to interview at least two agents, because when it comes to selling your biggest asset, having the right professional by your side is critical. That’s why I also recommend home buyers meet with more than one mortgage lender.

Check out this blog The Biggest Mortgage Loan Mistakes People Make

When interviewing agents, look for the following:

Find a Professional: Look for an agent with deep knowledge about the local market, strong negotiation skills and a solid marketing plan.
Check References and Reviews: Ask for references and read online reviews to ensure the agent has a history of satisfied clients.
Discuss Your Goals and Expectations: Make sure your agent understands your goals and priorities for the sale. In addition, be sure to ask about their communication plan.
Evaluate Their Marketing Plan: A good agent will have a comprehensive marketing strategy to attract potential buyers, including online listings, social media promotion, and professional photography.
Understand Commission Structure: Discuss the commission upfront to avoid any surprises later.

Once you find a real estate agent you are confident with, work with them to learn what type of repairs or staging will make a difference. They will be able to walk you through the process and provide guidance on what matters most to buyers.

The Bottom Line

Selling your home comes with a series of big decisions. A real estate agent is your partner in the process, and their expertise can mean the difference between tens of thousands of dollars in your pocket.

For a free consultation or discovery call to chat about your goals, connect with me here. MeltonVenturesLLC@gmail.com

Buyers • June 24, 2024

The Biggest Mortgage Loan Mistakes People Make

by Craig Melton

There’s nothing like the moment when you’ve found your dream home. It’s easy to get caught up in the excitement and make moves to finalize everything as quickly as possible. And while timeliness is important, it can lead to mistakes that end up costing you thousands. But what about a mortgage loan?

Here are the four biggest mortgage loan mistakes people make when securing financing.

Mistake #1—Not Shopping Around for Mortgage Offers

It’s tempting to go with the first mortgage offer you receive, especially when you’re eager to close the deal on your new home. According to a LendingTree study, the majority of people (54%) do just that—they only get one offer.

Jacob Channel, Lending Tree senior economist, explains why this is a mistake. “Different lenders can offer different rates to the exact same borrower. With that in mind, the first rate you’re offered may not be the lowest one you can get. The more offers you can look at, the better.”

Think about it: if you only go to one store to compare prices, wouldn’t you miss out on potential savings? The same goes for mortgages! Different lenders offer different rates, and even a small difference in interest rate can translate to significant savings over the life of your loan. The same LendingTree study found that 45% of those who did shop around for a mortgage ended up with a better offer. This means almost half of the buyers who took the time to compare multiple offers saved money.

Mistake #2—Relying Solely on Recommendations

It’s great to trust your real estate agent’s recommendations. After all, we work to build strong relationships with lenders and vendors to best serve our clients. However, if your agent only recommends one lender, it can limit your options. Each lender will have different options and tools for securing a mortgage.

The lenders I recommend each offer unique benefits and always work to secure the best loan possible. However, even I don’t know which one will come in with the lowest rate on any given loan! So, checking in with each one is key to getting the best deal.

Aim to get at least two different mortgage offers to compare. Diversifying your lender options can help you find competitive rates and better terms.

Mistake #3—Ignoring Different Mortgage Loan Types

Not all mortgage loans are created equal. Beyond the typical 30-year fixed-rate mortgage, there are various loan types like adjustable-rate mortgages (ARMs), FHA loans, VA loans, and USDA loans, each with its benefits and drawbacks. Ignoring these options might mean missing out on a loan that could better suit your financial situation.

This is another reason that it’s important to shop around. Each lender may have access to different types of loans. Discussing all of them will help you understand which one aligns best with your circumstances.

Mistake #4—Not Considering Future Financial Plans

When choosing a mortgage, consider your long-term financial plans. Are you planning to stay in the home for a long time, or might you move before 10 years is up? This can influence which type of mortgage loan (i.e., fixed vs. ARM) is a better option for you. Additionally, think about how your income might change over time and whether you might want to make extra payments to pay off the mortgage faster.

Aim to align your mortgage choice with your future financial goals to ensure you’re making the most strategic decision.

Conclusion

Securing a mortgage loan is a significant step in the home buying process, and avoiding these common mistakes can save you time, money, and stress. Remember—it all starts with shopping around! By doing so, you’ll be well on your way to getting the best mortgage deal possible.

Do you need some recommendations on vetted mortgage lenders in Jonesboro market? Contact me here MeltonVenturesLLC@gmail.com and I will connect you!

If you haven’t already, check out my other blogs.

Housing Market • June 24, 2024

Real Estate vs. Stocks: The Ultimate Long-Term Investment Showdown

by Craig Melton

When it comes to long-term investments, Americans have a clear favorite: real estate.

According to a recent Gallup poll, 36% of Americans believe real estate is the best long-term investment, outpacing stocks (22%), gold (18%), savings accounts (13%), bonds (4%) and cryptocurrencies (3%).

Why is that the case? Let’s dive into why so many people believe that owning property is the ultimate way to build wealth over time.

The Popularity of Real Estate as a Long-Term Investment

For 11 years running, real estate has consistently topped the list of preferred long-term investments in Gallup’s annual Economy and Personal Finance survey.

Americans’ Perceptions of the Best Long-Term Investment

This preference for real estate is driven by several factors:

Tangible Asset: Unlike stocks or bonds, real estate is a tangible asset that you can see and touch. This physical presence provides a sense of security that is hard to match.
Appreciation Over Time: Historically, real estate values have shown steady appreciation. From the 1990s to the 2020s, home prices have consistently increased, making real estate a reliable investment.
Dual Benefits: Owning a home provides not only potential financial returns but also a place to live. This dual benefit is unique to real estate and adds to its appeal.

Gallup’s poll found this preference holds true across all income levels, with 33% of lower income households stating they believe real estate is the best long-term investment, along with 36% of middle income households and 40% of upper income households.

Perceptions of the Best Investment, by Annual Household Income

Real Estate vs. Other Investments

While real estate is the top choice for many, it’s important to consider how it stacks up against other investments. Stocks, for example, have historically offered higher returns. From 1990 to April 2024, the S&P 500 surged by 1,325%, while the S&P CoreLogic Case-Shiller U.S. National Home Price Index rose by 308%.

However, stocks come with higher volatility. Real estate, on the other hand, tends to provide more stable growth. Even during economic downturns, such as the Great Financial Crisis of 2008, real estate has shown resilience and recovery.

This is highlighted when you look back at U.S. home price growth by the decade.

Statics show that home prices have risen historically ever decade since the 40's.

U.S. home price growth by decade:

1990s: +30.1%
2000s: +47.3%
2010s: +44.7%
2020-2024: +47.1%

Locally, home prices have risen 5.1% over the past year, and 32.9% since 2020.

Is Real Estate the Right Investment for You?

Real estate can be a fantastic long-term investment, especially in a growing market like Jonesboro, Arkansas. But before diving in, consider your individual situation:

Long-Term Commitment: Buying a home is a long-term play. If you plan to move in a few years, it might not be the best fit.
Financial Strength: Real estate requires a down payment, closing costs, and ongoing maintenance expenses. Make sure you have a solid financial foundation.
Investment Goals: Consider your overall investment goals. If you prioritize high returns and easy access to your money, another investment might be a better fit.

And keep in mind that diversification leads to a balanced investment strategy. Financial experts recommend spreading investments across various assets to hedge against different market forces and increase the odds of a net profit over the long term. This means integrating real estate within a broader portfolio that includes stocks, bonds, and other investment vehicles.

Bottom line: While poll results show that Americans prefer real estate as a long-term investment, there is no one-size-fits-all answer. Always consult with your financial advisor when planning to invest for your future, as the best option depends on your financial goals, risk tolerance, and investment timeline.

Investors • Sellers • June 20, 2024

The Secret to High ROI Home Remodeling in Today’s Market

by Craig Melton

What is will get you the return on investment when remodeling in today's market?

Thinking about sprucing up your home? Whether you’re planning to sell soon or just want to enhance your living space, remodeling can be a great investment. But not all projects offer the same return—especially since home repair costs have risen 40% since 2019.

I know remodeling costs today can be disheartening, but the experts at Zonda, a housing market research firm, just released their 2024 Cost vs. Value Report, and it’s packed with insights to help you maximize your return on investment (ROI).

Curb Appeal is King

When it comes to boosting your home’s value, exterior improvements are where it’s at. According to Zonda, eight out of the top ten projects with the highest ROI are exterior upgrades.

Why? Because first impressions matter. A home with great curb appeal can stand out in the market, attracting more buyers and potentially selling for a higher price.

According to Clay DeKorne, Zonda’s chief editor, exterior replacement projects continue to make the most sense when it comes to adding resale value. In today’s market, characterized by higher mortgage interest rates and homeowners with significant equity, these projects stand out for their high ROI.

Cost vs. Value: National Average for Home Remodeling Projects

Below are all of the home remodeling projects that Zonda analyzed for its report, ranked by highest return on investment.

Top 3 Projects with the Highest ROI

This year’s report shows that the hottest projects for maximizing your ROI are actually the “unsexy” ones – the things that maybe don’t grab headlines but definitely grab buyers’ attention.

Just take a look at the top three on the list, each of which has an ROI well over 100%.

Garage Door Replacement: 194% ROI. This project tops the list, almost doubling its return from last year. A new garage door can dramatically improve your home’s exterior look, making it more attractive to buyers.

Steel Entry Door Replacement: 188% ROI. Replacing your front door with a steel one doesn’t just boost security; it also enhances the overall appearance of your home. It’s a simple upgrade with a significant payoff.

Manufactured Stone Veneer: 153% ROI. Adding stone veneer to your home’s exterior can give it a luxurious and durable look. This upgrade is not only stylish but also highly valued by homebuyers.

For those looking for small projects with a big impact, doors are a great place to start.

“A new garage door or new entry door can make a pronounced difference,” says Todd Tomalak, principal of Zonda Advisory. “It could be the thing that makes one house stand out against all the others, making the home worth a higher price.”

Of course, there are other not-so-glamorous upgrades that can add value. Things like a new roof, windows replacement, and HVAC conversion also made Zonda’s list.

Key Takeaway for Remodeling

While a luxurious kitchen remodel might be your dream, the data suggests it won’t necessarily pay off as much when it comes to resale value. That doesn’t mean you can’t enjoy a new kitchen! But if you’re focused on maximizing your return on investment, target those exterior improvements and strategic interior updates first.

Ready to get started with some upgrades but don’t know where to start? I have a contact list full of trusted vendors in the area, pre-vetted for quality and affordability. These are the folks I call on myself, and I’m confident they can help you achieve your home improvement goals!

Email me at MeltonVenturesLLC@gmail.com for my top recommendations!

If you haven’t already, check out my other blogs.

Buyers • June 8, 2024

4 Financial Tips for Today’s Home Buyer to Eliminate Financial Stress

by Craig Melton

Feeling the Stress of Buying a Home - Tips to Help

Buying a home is a major milestone, but it’s not always the right time for everyone. It’s important to remember that a home purchase is a long-term investment, and making this decision without proper financial planning can lead to significant stress. For more insights on the long-term benefits of real estate investment, check out our blog from last week.

The truth is, knowing when not to buy a home is just as crucial as knowing when to buy. Whether you’re a first-time buyer or looking to move, understanding your financial situation is key to making a wise decision. Let’s start by looking at what recent home buyers are experiencing in today’s market.

Causes of Financial Stress for Today’s Home Buyers

According to a recent survey from Clever Real Estate, 43% of homeowners who bought in 2023 or 2024 have struggled to meet their monthly mortgage payments. This financial strain is due to several key factors:

37% of buyers purchased a home that exceeded their initial budget
44% of new homeowners have taken on extra debt outside of their mortgage to maintain their lifestyle
50% accepted a higher interest rate than planned (Note: This is why it’s important to base your budget on a monthly payment, not the purchase price of the house—but more on that, later.)

All of these factors lead to financial stress and regret—and that’s the last thing new homeowners need to deal with. To help avoid these pitfalls, let’s discuss some key financial tips you need to consider before taking the plunge.

4 Key Financial Tips to Consider

1. Assess and Plan Your Budget

Setting a realistic budget is the cornerstone of a successful home-buying experience. However, you can’t just think about the purchase price of the home. Factor in all potential expenses that will impact your monthly budget. Include costs such as property taxes, insurance, HOA fees, and unexpected repairs. You’ll also want to leave a little wiggle room for fluctuating mortgage rates. Knowing what you can comfortably afford in monthly payments rather than the total purchase price will set you up for success.

Additionally, don’t forget about the upfront costs associated with buying a home. These include the down payment, closing costs, home inspections, and moving expenses. Saving for these costs is crucial to avoid dipping into emergency funds or taking on extra debt. Planning ahead for these expenses ensures you can cover them without compromising your financial stability.

2. Minimize Additional Debt

Aim to avoid taking on extra debt before, during and immediately after your home purchase. Keeping your finances in check will help you manage your mortgage payments more comfortably. Once you have been making regular payments for several months, you can reassess your finances and make adjustments to your budget where needed.

3. Monitor and Improve Your Credit

In Q1 2024, the median credit scores for mortgages remained flat at 770 and auto loans were at a record high of 724, according to the New York Fed. This means banks aren’t just giving away mortgage loans like pre-2008 (which is a good thing!). It also means that maintaining good credit is essential for favorable loan terms. Regularly check your credit report and address any discrepancies.

4. Plan for the Future

Think about your long-term financial goals and how buying a home fits into them. Are you planning to stay in the home for several years, or is this a short-term move? Your plans will impact how you manage your finances—as well as your decision to buy. Ensure your home purchase aligns with your broader financial objectives to avoid future regrets.

In addition, having an emergency fund is vital for future financial stability. Ensure you have enough savings to cover at least three to six months of expenses. This safety net provides peace of mind and financial security if unexpected costs arise, helping you avoid financial stress.

Knowing When NOT to Buy

So, when should you consider holding off on buying a home? Here are some signs:

High Debt Levels: If your debt-to-income ratio is high, adding a mortgage might strain your finances.
Unstable Income: If your job situation is uncertain, it might be wise to wait until your income is more stable.
Lack of Savings: Ensure you have enough savings not just for the down payment, but also for emergencies and ongoing maintenance.
Uncertain Plans: If you may be moving in the near future, purchasing a home may not be the best option.

Recognizing these signs and being honest about your financial situation can save you from potential stress and regret. By taking the time to assess your readiness and plan carefully, you’ll be in a stronger position to make a successful and satisfying home purchase when the time is right. Remember, waiting until you’re financially prepared isn’t a setback—it’s a smart step towards a more secure and enjoyable homeownership journey.

Housing Market • June 1, 2024

Era Over Era: The 2020s Home Price Surge Compared to Decades Past

by Craig Melton

Home Prices have continued to rise over the decades.

The 2020s housing market continues to defy expectations. National home price have surged over the past four years, surpassing growth experienced in entire previous decades. This rapid climb has many wondering – is this a sustainable trend, or are we due for a correction?

Today, we are diving into the historical data and exploring what this means for you.

2020s Home Price Growth: Surpassing Expectations

National home price growth in the early 2020s has already outpaced the total growth seen in both the 1990s and 2010s. According to ResiClub’s analysis of the latest data, U.S. home prices have increased by 47.1% through the first 50 months of this decade.

Even the past year alone has seen considerable growth: U.S. home prices increased 6.4% from February 2023 to February 2024.

Locally in Jonesboro, we are seeing a similar trend. In February 2023, the median home price was $215,000. Fast forward a year, and the median home price was $225,950, a 5.1% increase year-over-year.

So, what does this mean for the rest of the decade? To gain a better perspective, let’s dive into some historical data.

Historical Comparisons

The 2020s increase in home prices can bring up a lot of fears (especially for those who see all the doom-and-gloom headlines!). At ERA Doty Real Estate, we often hear questions like: Does this mean a market crash is coming? Is this a bad time to buy? Should I just wait for prices to come down?

Historically, here’s what we’ve seen: a consistent upward trend in home price growth every decade.

Take a look at the national numbers:

US home price growth by decade – Source: ResiClub

1990s Decade: +30.1% increase in home price growth
2000s Decade: +47.3% increase
2010s Decade: +44.7% increase
2020s Decade: +47.1% increase (in just the first 50 months)

In short, the 2020s market (so far) is an outlier, as we’re seeing higher overall price inflation in the current decade compared to similar points in previous decades. However, we also know that long-term, home price appreciation is expected to continue.

What Does This Mean for You?

The historical data suggests a few key takeaways:

Long-term Investment: The consistent upward trend across decades highlights the value of real estate as a long-term investment. Even periods of correction are generally followed by recovery and growth, reinforcing the asset’s stability.
Housing Market Dynamics: Buyers and sellers must stay informed about local market conditions, as national trends can mask regional variations. For example, some markets are currently experiencing an increase in housing inventory, while others remain at record lows.
Future Outlook: With the market showing no signs of a significant downturn, strategic investments can still yield substantial returns. But, as with any significant purchase, careful analysis remains essential.

Interested in current data for Jonesboro? Connect with me at MeltonVenturesLLC@gmail.com.

Final Thoughts

We know the current market may seem daunting, but here’s the upside: history suggests that real estate remains a strong long-term investment.

However, with national trends masking regional variations, it’s critical to stay informed about your local market. After all, understanding local dynamics—including prime locations, market data and up-and-coming neighborhoods—is the key to leveraging the potential of real estate for long-term gains.

Investors • September 10, 2023

Multi-Family Investing in Jonesboro, Arkansas

by Craig Melton

Jonesboro, Arkansas, is a growing city with a population of over 75,000 people. This city has a lot to offer, including a strong economy, excellent schools, and a low cost of living. As a result, it is becoming an increasingly popular destination for people looking to relocate. For real estate investors, Jonesboro is also an excellent place to invest in multi-family apartments. Here are some of the benefits of investing in multi-family apartments in Jonesboro, Arkansas.

Strong Rental Demand

One of the biggest advantages of investing in multi-family apartments in Jonesboro is the strong rental demand. Jonesboro has a growing population, and many people are looking for affordable housing options. Multi-family apartments are an excellent choice for these people, as they offer affordable rent and a variety of amenities. With a strong rental demand, investors can expect to keep their properties occupied and generate consistent rental income.

Cash Flow

Multi-family apartments in Jonesboro can generate a significant amount of cash flow for investors. With multiple units in one building, investors can generate rental income from multiple sources. Additionally, multi-family properties have lower vacancy rates than single-family homes, which means that investors can expect to keep their properties occupied for longer periods of time. With a consistent stream of rental income, investors can use their cash flow to reinvest in their properties or fund other investments.

Appreciation

Another benefit of investing in multi-family apartments in Jonesboro is appreciation. Real estate values in Jonesboro have been steadily increasing over the past few years, and this trend is expected to continue. As the city grows and becomes more popular, the value of multi-family properties is likely to appreciate. This can result in significant returns for investors who choose to hold onto their properties for the long term.

Diversification

Investing in multi-family apartments in Jonesboro can also provide diversification benefits. Unlike other investments, real estate is a tangible asset that investors can physically see and touch. Additionally, real estate investments are less volatile than stocks and bonds, which can help investors weather market fluctuations. By diversifying their investment portfolios with real estate, investors can reduce their overall investment risk.

Tax Benefits

Investing in multi-family apartments in Jonesboro can also provide significant tax benefits for investors. Real estate investors can take advantage of tax deductions such as mortgage interest, property taxes, and depreciation. Additionally, real estate investors can use 1031 exchanges to defer taxes on the sale of their properties. By working with a knowledgeable tax professional, investors can maximize their tax savings and increase their returns.

Property Management

Investing in multi-family apartments in Jonesboro can also be easier to manage than other types of real estate investments. With multiple units in one building, investors can consolidate their property management efforts. Additionally, investors can hire property management companies to handle day-to-day operations such as tenant screening, rent collection, and maintenance. This can help investors save time and focus on other aspects of their investment portfolios.

Community Building

Investing in multi-family apartments in Jonesboro can also provide opportunities for community building. Multi-family properties can bring together people from different backgrounds and provide a sense of community. Additionally, investors can work with local organizations to provide resources and support for their tenants. By building strong relationships with tenants, investors can create a loyal tenant base and improve the overall quality of life in their properties.

In conclusion, investing in multi-family apartments in Jonesboro, Arkansas, can provide significant benefits for real estate investors. With strong rental demand, cash flow, appreciation potential, diversification benefits, tax advantages, and easier property management, multi-family apartments can be an excellent addition to an investor’s portfolio. Additionally, community building opportunities can help investors create a sense of pride and ownership in their properties. If you are considering investing in real estate, multi-family apartments in Jonesboro, Arkansas, should definitely be on your radar. With a growing population, a strong economy, and a low cost of living, Jonesboro is an ideal location for real estate investors. By working with experienced real estate professionals and doing your due diligence, you can find the right multi-family properties to meet your investment goals and maximize your returns.

Contact me for more details on how you can get started Multi-Family Investing in Jonesboro, Arkansas.

Sellers • September 10, 2023

Preparing Your Home for Sale is a Critical Step

by Craig Melton

Preparing your home for sale is a critical step in the selling process. When you put your house on the market, you want to make sure that it looks its best so that you can attract as many potential buyers as possible. A well-prepared house will not only attract more buyers but will also increase the chances of getting a higher selling price. In this blog post, we will provide you with a comprehensive checklist of items that you should consider when preparing your house for sale.

1. Clean and declutter your home

The first and most crucial step in preparing your home for sale is to clean and declutter it. Your home should look as if it’s ready for a photo shoot. Decluttering your home will make it look more spacious and appealing to potential buyers. Remove any excess furniture, personal items, and decorations from your home. Deep clean your home and make sure that every surface is spotless.

2. Make small repairs

Walk around your house and identify any small repairs that need to be made. These could include fixing leaky faucets, replacing broken tiles, or repairing any cracks in the walls. Small repairs can make a big difference in how your home looks to potential buyers.

3. Repaint your walls

If your walls have any scuff marks or are painted in bold colors, consider repainting them in a neutral color. Neutral colors are more appealing to potential buyers, and they will help your home look more spacious.

4. Update your lighting

Make sure that your home has adequate lighting. Replace any broken or outdated light fixtures, and add some additional lighting to any dark areas of your home. Good lighting can make your home look brighter and more welcoming.

5. Improve your curb appeal

Your home’s exterior is the first thing that potential buyers will see, so it’s important to make sure that it looks its best. Trim your bushes and hedges, mow your lawn, and make sure that your driveway and walkway are clear of any debris. Consider adding some potted plants or flowers to your porch to add some color and charm.

6. Stage your home

Staging your home can help potential buyers visualize themselves living in your home. Remove any personal items and decorations, and rearrange your furniture to create a more spacious and welcoming layout. You can also add some decorative accents such as throw pillows or artwork to add some color and style to your home.

7. Hire a professional photographer

Once you’ve prepared your home for sale, it’s important to showcase it in the best possible light. Hire a professional photographer to take high-quality photos of your home. These photos will be used in online listings and marketing materials, so it’s essential that they look their best.

In addition to these items, there are a few other things that you should consider when preparing your home for sale:

Set a realistic asking price. Your real estate agent can provide you with a comparative market analysis (CMA) that will help you determine a fair asking price for your home.
Be flexible with showings. Potential buyers may want to see your home at inconvenient times, but it’s important to be accommodating to their schedules.
Consider getting a pre-listing home inspection. A pre-listing home inspection can help you identify any major repairs that need to be made before you put your home on the market.
Disclose any known issues with your home. If there are any known issues with your home, such as a leaky roof or foundation problems, it’s important to disclose them to potential buyers.

Contact me for more information and help with preparing your home in today’s real estate market.