Tuesday, December 10 2013 8:16 PM EST2013-12-11 01:16:57 GMT
(WMC-TV) - The Shelby County Schools District board voted to approve the agreement made Monday between SCS and Germantown. Germantown's Board of Aldermen voted unanimously to approve an agreement betweenMore >>
The Shelby County Schools District board voted to approve a settlement agreement Tuesday with Germantown.More >>
Tuesday, December 10 2013 7:31 PM EST2013-12-11 00:31:13 GMT
(WMC-TV) - A Memphis man arrested on child abuse charges claims the 2-year-old victim got hurt dancing with him. Stacey Liddell, 35, is charged with Haley's Law Aggravated Child Abuse and Neglect and ChildMore >>
A Memphis man arrested on child abuse charges claims the 2-year-old victim got hurt dancing with him.More >>
Tuesday, December 10 2013 7:28 PM EST2013-12-11 00:28:20 GMT
(WMC-TV) - November may have ushered in the holiday season, but it did not bring a big jump in enthusiasm among America's small-business owners. The National Federation of Independent Business' widely-watchedMore >>
National stats say this Christmas season is not quite what economists planned. But when it comes to local businesses in Memphis and the Mid-South, things are looking up.More >>
Tuesday, December 10 2013 7:26 PM EST2013-12-11 00:26:30 GMT
(WMC-TV) - As Christmas approaches, many of you will be rushing around to make sure your presents get sent and delivered on time. But before you do, you might want to take some extra steps to make sureMore >>
As Christmas approaches, many of you will be rushing around to make sure your presents get sent and delivered on time. But before you do, you might want to take some extra steps to make sure your packages get to their destinations in one piece.More >>
Tuesday, December 10 2013 7:24 PM EST2013-12-11 00:24:25 GMT
(WMC-TV) - The city of Memphis is looking to the state for help regarding the thousands of untested rape kits. The numbered of untested rape kits went up a week ago. The city has pledged to test themMore >>
The city of Memphis is looking to the state for help regarding the thousands of untested rape kits.More >>
MEMPHIS, TN -
(WMC TV) - They didn't quite take a bath on the sale of their Cordova, TN, home.
But the seller's market was enough of a wet blanket to give empty-nesters Lee and Anna Grehan hope of better luck in the buyer's market.
"This IS a buyer's market," said Anna Grehan. "We're hoping because somebody got a deal on our house that we will snap up a deal. The rates are very low, so we want to take advantage of that."
Robert Irwin, a California real estate broker and investor (www.robertirwin.com) told consumer resource Bottom Line Secrets magazine that for buyers to take advantage of the lowest mortgage rates:
* Their down payments would have to be 20-25 percent.
* Their credit scores would have to be greater than 740, preferably closer to 780 or 800.
* Their debt-to-income ratios would have to be less than 45 percent.
Leon Dickson, Sr., broker/owner of Memphis-based Benchmark at Southwind LLC Realtors (http://www.benchmarkrealtorsatsw.com/), said rates and prices are just two components. He suggested buyers should hire home inspectors and realtors to dig out the hidden details behind those prices.
"Condition of the house, or the amenities, seller concessions -- they would need that information or that direction from a realtor," Dickson said.
Folks selling their homes will face the same reality checks as the Grehans did. They can't put off nagging repairs. Those should be completed before even considering showing their homes.
They should also price their homes carefully, not based on their tax assessments, but on the sales comparables, or "comps", in their neighborhoods. Dickson said sellers can count on either a loss or very little earnings, but they're likely to rebound when they test the buyer's market.
"More than likely the area that you are going to buy in, the properties may be a little lower as well, so you'll recover a little of your loss on the purchase end," he said.
The Memphis Area Association of Realtors (www.maar.org) has assembled these tips for both buyers and sellers:
QUICK TIPS FOR BUYING A HOME
* REMEMBER, YOU'RE SEARCHING FOR THE RIGHT HOUSE AND NOT THE PERFECT HOUSE. This doesn't mean that you abandon the criteria most important to you. But it does mean that you need to prioritize your needs and desires and determine where you are willing to compromise.
* STAY WITHIN YOUR PRICE RANGE. You may "love" a house that costs considerably more than you can comfortably spend, but you won't love being "house poor."
* CHOOSE THE RIGHT REALTOR FOR YOU. This means finding someone with expertise about the area where you intend to buy and who understands your goals. No one is an expert about all things and all locations. Make sure you're comfortable with the person and don't automatically choose a friend, relative or friend of a friend.
* ACT LIKE A REPORTER. This is especially important if you are new to the market and have little or no knowledge of the area. Read. Ask questions. Read some more. Ask more questions. Study the market data. At www.maar.org, you can find market reports that track monthly sales not just for the Memphis market, but for 20 submarkets. On the right-hand side of the home page, click on "Market Reports."
* GET A HOME INSPECTION. Most people wouldn't consider buying a pre-owned vehicle without having a mechanic look under the hood. It's no different when buying a house. A home inspector can evaluate the home's physical condition and identify items that need to be repaired or replaced.
* ORDER A SURVEY. This is one of those better-to-be-safe-than-sorry scenarios. A survey will show the location of the buildings, fences, driveways, easements of record, boundaries of the property and will inform you of any encroachments that could hinder your ability to sell the property in the future.
* DON'T RUSH. While some home-buyers do suffer paralysis by analysis, you don't want to go to the other extreme and make a huge purchase on emotion and impulse. Take your time.
QUICK TIPS FOR SELLING A HOME
* YOU GET ONE CHANCE TO MAKE A FIRST IMPRESSION. So before the first potential buyers grace your door, make sure your home is walk-through ready and that the exterior of your home is neat and clean. Curb appeal is crucial and so is that initial impression.
* CREATE A "CLUTTER-FREE" ENVIRONMENT. Remember all those times your mother told you to clean your room and you didn't? This is payback. Your house must be easy to show and that means every room should be clean, attractive, inviting.
* MAKE SELLING YOUR HOME A PRIORITY. This means making your home available for showing at a moment's notice. Remember, you want to make things easy for the potential buyer.
* BE SURE YOU PLAY THE "PRICE IS RIGHT." The best time to price your home correctly is when it first goes on the market. If your home is overpriced, people will bypass it for a similar house priced at market value.
* LITTLE IMPROVEMENTS CAN HAVE A BIG IMPACT. Make obvious repairs, landscape where appropriate and consider staging the interior of your home. If nothing else, the fact that potential buyers don't notice cosmetic flaws -- from shaggy shrubbery to dirty floors -- keeps them focused on your home's strong points.
* UNDERSTAND THAT STRANGERS PROBABLY WON'T LOVE YOUR PETS THE WAY YOU DO. Ideally, Fido and Fluffy stay with friends or relatives every time you have a showing. If that's not possible, place your pet in the least distracting place possible, spray with deodorizer and light a candle. Stow the litter box, bowls, beds and toys.
* MAKE SURE THE BUYER CAN AFFORD YOUR HOUSE. A reality of today's market is that financing is becoming more stringent. Unless the buyer has been pre-approved for a mortgage large enough to purchase your house, an "offer" won't go very far.
Monday, December 9 2013 9:30 PM EST2013-12-10 02:30:09 GMT
Over the weekend in Owensboro, officials with the Salvation Army were thrilled to find a gold coin in one of their red kettles. It was found wrapped up in a note that said it was from: 'Someone who lovesMore >>
Over the weekend in Owensboro, officials with the Salvation Army were thrilled to find a gold coin in one of their red kettles.More >>
Monday, December 9 2013 7:25 PM EST2013-12-10 00:25:38 GMT
(WMC-TV) - One hundred people will be without a job this holiday season as a factory in Olive Branch prepares to close. The plant was scheduled to close, but it will remain open for a few more weeks accordingMore >>
One hundred people will be without a job this holiday season as a factory in Olive Branch prepares to close.More >>
Monday, December 9 2013 5:51 PM EST2013-12-09 22:51:07 GMT
(WMC-TV) - A woman in Tipton County reportedly shot and killed her husband early Sunday morning. Just before 6 a.m., deputies responded to a shooting on Highway 14 South in Brighton. When they arrived,More >>
Angela Brewer originally told deputies she shot and killed her husband after she thought she heard an intruder outside.More >>
Monday, December 9 2013 11:10 PM EST2013-12-10 04:10:09 GMT
The government's recent efforts to cut down on Medicare fraud may be hurting the people who need help the most. People who have severe disabilities have been receiving letters denying payment for the wheelchairsMore >>
The government's recent efforts to cut down on Medicare fraud may be hurting the people who need help the most.
Tuesday, December 10 2013 6:15 PM EST2013-12-10 23:15:07 GMT
(WMC-TV) - Three Memphis women had a frightful weekend on the icy roads. Pamela Byrd Davis, 47, was driving home late Saturday night when she became involved in a multi-car pileup on the Walnut GroveMore >>
Three Memphis women had a frightful weekend on the icy roads. Pamela Byrd Davis, 47, was driving home late Saturday night when she became involved in a multi-car pileup on the Walnut Grove Road-Humphreys Boulevard overpass.More >>
(WMC-TV) – Have you thought this season about opening up your heart and your home to a sweet animal in need of one? This year, we introduce to you "The 12 Strays of Christmas". Action News 5 is partneringMore >>
Have you thought about opening up your heart and your home to a sweet animal in need this holiday season? AN5 is teaming up with the Humane Society of Memphis & Shelby County to bring you "The 12 Strays of Christmas."
Tuesday, December 10 2013 6:44 PM EST2013-12-10 23:44:06 GMT
(WMC-TV) - A Memphis man arrested on child abuse charges claims the 2-year-old victim got hurt when he was dancing with her. Stacey Liddell, 35, is charged with Haley's Law Aggravated Child Abuse andMore >>
A Memphis couple is on trial for punishing a little girl. Officers say they beat her with paddles.More >>
Monday, December 9 2013 7:10 PM EST2013-12-10 00:10:04 GMT
(WMC-TV) - A Mid-South man could face charges after investigators say his story about a home invasion does not all add up. Sheriff's deputies in Tipton County have been investigating a home invasion nowMore >>
A Mid-South man could face charges after investigators say his story about a home invasion does not all add up.More >>
Tuesday, December 10 2013 8:13 AM EST2013-12-10 13:13:18 GMT
(WMC-TV) - It is Kelvin Lake's goal to inspire his family and his entire congregation. That's right, he's the pastor of a church, who says his busy schedule is what helped him become overweight ... that,More >>
It is Kelvin Lake's goal to inspire his family and his entire congregation. That's right, he's the pastor of a church, who says his busy schedule is what helped him become overweight ... that, and the convenience of unhealthy food.More >>
Monday, December 9 2013 8:17 PM EST2013-12-10 01:17:55 GMT
The country music star who set the standard for live concert production in the 1990s is back. Garth Brooks is ready to tour the world again, and he's taking his whole band with him. Brooks remains theMore >>
The country music star who set the standard for live concert production in the 1990s is back. Garth Brooks is ready to tour the world, and he's taking his whole band with him.More >>