Realtor Melissa Belk

09/30/2024

07/24/2021

~ New Blog Post ~ This Isn't A Housing Bubble!

3 Charts That Show This Isn't a Housing BubbleWith home prices continuing to deliver double-digit increases, some are co

07/24/2021

~ New Blog Post ~ Buyers Options Are Improving!

Experts Agree: Options Are Improving for Buyers [INFOGRAPHIC]Some HighlightsBuyers hoping for more homes to choose from

07/24/2021

~ New Blog Post ~ What You Should Do Before Rates Rise!

What You Should Do Before Interest Rates RiseIn today's real estate market, mortgage interest rates are near record lows

07/19/2021

It was a BIG day today! 🎉

So happy for my parents who are all moved in their new home and ready to retire!

If you’re looking to buy or sell, give me a call to discuss your goals! 📱

Thank you to my sweet family for this adorable cake to celebrate!

07/15/2021

~ New Blog Post ~ Today's Biggest Buyer Concerns

Diving Deep into Today's Biggest Buyer ConcernsLast week, Fannie Mae released their Home Purchase Sentiment Index (HPSI)

07/15/2021

Would you like to know why the market is so hot right now?

One reason is low interest rates!

Check out the excerpt below from an article from last year:

"House Price Vs. Interest Rate: Example Scenario
Is there any correlation between mortgage interest rates and home prices? If one goes up, does the other go down?

Low interest rates can increase demand for homes, while high interest rates can slow demand. When demand for homes go up, prices tend to follow suit.

However, there isn’t always a perfect correlation. In practice, there are many different factors that affect home prices and mortgage rates, including local market conditions and larger economic trends.

Which environment is better for home buyers? Consider the following example.

When Janet originally bought her house, it was worth $250,000. She made a 10% down payment, so she paid $25,000 out of pocket and financed the remaining $225,000 at an interest rate of 6%. She pays around $1,349 each month for her mortgage. If she were to keep her house for the entire duration of her 30-year mortgage, she’d pay $260,363 in interest.

Janet has decided, however, that now is the time to sell her home. Because home values have increased since she purchased her home, her buyer, Joe, plans to purchase the home for $300,000. Joe also decides to put down a 10% down payment, meaning he’ll pay $30,000 in cash at the closing table and will take out a $270,000 mortgage to pay the rest. Joe’s mortgage lender approves him for a 4% interest rate.

Despite paying more for the house than Janet, Joe’s monthly payment will be $1,289, and he’ll only pay $194,048 in interest over the life of the loan, thanks to his lower interest rate.

As we can see, interest rates can make a huge difference in a given home’s affordability."

When considering selling or purchasing a home, it is vital to work with a Realtor who is familiar with the market conditions and will discuss financing with you to assist you in obtaining the best financing terms possible. Every lender offers different programs, which include different up front costs and rates. Let me save you the hassle of multiple credit pulls and hours online or on the phone searching!

Source: https://rb.gy/xt9ayh

07/15/2021

Housing Supply Is Rising. What Does That Mean for You?An important factor in today's market is the number of homes for s

07/14/2021

4 Major Incentives To Sell This SummerWhile the housing market forecast for the second half of the year remains positive

07/14/2021

Selling Your House? Make Sure You Price It Right.There's no denying we're in a sellers' market. With low inventory and h

07/07/2021

A Look at Home Price Appreciation Through 2025Home prices have increased significantly over the last year, which in turn

07/07/2021

Home Builders Ramp Up Construction Based on DemandIf you're thinking of buying a home, there really is no time like the