Buying a home can be SCARY…Until you know the FACTS

Some Highlights:

Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process:

• 71% of buyers who purchased homes have put down less than 20%.
• 78.1% of loan applications were approved last month.
• In September, the average credit score for approved loans was 737.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

Homes Are Selling Quickly

Some Highlights:

• The National Association of REALTORS® surveyed their members for the release of their Confidence Index.
• The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices, and market conditions.
• Homes across the country are selling quickly, in an average of just 31 days.
• 49% of homes sold in less than a month.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your home is worth! 

By: KCM Crew

What You Need to Know About the Mortgage Process

Some Highlights:

• Many buyers are purchasing homes with down payments as little as 3%.
• You may already qualify for a loan, even if you don’t have perfect credit.
• Your local professionals are here to help you determine how much you can afford, so take advantage of the opportunity to learn more.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

5 Homebuying Acronyms You Need to Know

Some Highlights:

• Learning the lingo of homebuying is an important part of feeling successful when buying a home.
• From APR to P&I, you need to know the acronyms that will come up along the way, and what they mean when you hear them.
• Your local professionals are here to help you feel confident and informed from start to finish…and this infographic will help you as you go.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

What Is the Cost of Waiting Until Next Year to Buy?

Some Highlights:

• The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time.
• Freddie Mac forecasts interest rates will rise to 3.8% by Q4 2020.
• CoreLogic predicts home prices will appreciate by 5.4% over the next 12 months.
• If you’re ready and willing to buy your dream home, now is a great time to buy.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

4 Reasons to Sell This Fall

Some Highlights:

• Buyers are active in the market and often competing with one another for available listings.
• Housing inventory is still under the 6-month supply found in a normal housing market.
• Homes are still selling relatively quickly, averaging 31 days on the market.

Contact The Melissa Thompson Team to find out how much your home is worth in today's market! Reach us at 901-729-9526 or Melissa@YourKeytoMemphis.com. 

By: KCM Crew

6 Graphs Showing the Strength of the Current Housing Market

Some Highlights:

• Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home.
• Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market.
• With the national data shown here, make sure to also determine what’s happening in your local market so you are fully informed when you’re ready to make your next move.

The professional's with The Melissa Thompson Team are here to answer all your home-buying and selling questions! 

Reach us at 901-729-9526 or Melissa@YourKeytoMemphis.com. 

By: KCM Crew

A+ Reasons to Hire a Real Estate Pro

Some Highlights:

• Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most powerful decisions you can make.
• A real estate professional has the experience to help you confidently navigate through the entire process.
• Make sure you work with someone who knows the current market conditions and can simply and effectively explain them to you and your family.

The professional's with The Melissa Thompson Team are here to answer all your home-buying and selling questions! 

Reach us at 901-729-9526 or Melissa@YourKeytoMemphis.com. 

By: KCM Crew

A Recession Does Not Equal a Housing Crisis

Some Highlights:

• There is plenty of talk in the media about a pending economic slowdown.
• The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th.
• Many experts predict a potential recession is on the horizon. However, housing will not be the trigger, and home values will still continue to appreciate. It will not be a repeat of the crash in the 2008 housing market.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com for all your Real Estate needs! 

By: KCM Crew

A Latte a Day Keeps Homeownership Away

Some Highlights:

• The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast!
• Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a day from your favorite coffee shop) will help you get there faster.
• Depending on where you live, putting away just a small amount each day will get you to the average down payment you may need for homeownership faster than you think.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

Buying a Home: Do You Know the Lingo?

Some Highlights:

• Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.
• To point you in the right direction, here’s a list of some of the most common language you’ll hear when buying a home.
• The best way to ensure your home-buying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher.’

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

Rent Vs. Own

Some Highlights:

• Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space.
• Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather than that of your landlord.
• Renting and owning both have up-front fees when you sign your lease or close, respectively. Think about putting that money to work for you!

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home! 

By: KCM Crew

Existing Home Sales Point Toward a Good Time to Sell

Some Highlights:

• Existing Home Sales dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June.
• Low inventory levels are still a factor in the market. The current supply of homes for sale is at 4.4 months, which is less than the optimal 6-month supply.
• Median home prices were up 4.3% from June 2018, hitting $285,700. This marked the 88th consecutive month with year-over-year price gains.

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to find out how much your home is worth in today's market!

By: KCM Crew

Home Prices Up 5.05% Across the Country

Some Highlights:

• The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
• In the report, home prices are compared both regionally and by state.
• Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!

By: KCM Crew

The Cost of Waiting: Interest Rates Edition

Some Highlights:

• Interest rates are projected to increase steadily heading into 2020.
• The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be.
• Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home!

Contact The Melissa Thompson Team at 901-729-9526 or Melissa@YourKeytoMemphis.com to start the search for your new home!

By: KCM Crew