13. '2018 Market Update/30-or15-Year Mortgage?' - Memphis Real Estate Hour 10/16/2018

Wendy Greenlaw discusses Q3 numbers for 2018. We may notice a shift in the market. She reported that the number of units sold this quarter is down by 6% compared to Q3 last year. On the other hand, the average sales price is stabilizing, it is up by 4%. The sale of home units is down 1%. Although, she predicted that it will reach record-high by the end of 2018. And Dan and Dean finish off the show with the debate about getting a 30-year vs. a 15-year loan. Most people opt for a 30-year note because of the cash flow and higher increase. The tax is also lower. However, there is a high-interest expense and there is little flexibility. The savings is also not as big and you have to pay more for a property.