Author Archives: Make your Home your Haven!

29 Wednesday Sep 2021

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Is a 20% Down Payment Really Necessary To Purchase a Home?

Is a 20% Down Payment Really Necessary To Purchase a Home? | MyKCM

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle.

That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it:

“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”

If saving that much money sounds overwhelming, you might be ready to give up on the dream of homeownership before you even begin – but you don’t have to. According to the Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. It may sound surprising, but today’s average down payment is only 12%. That number is even lower for first-time homebuyers, whose average down payment is only 7%.

Is a 20% Down Payment Really Necessary To Purchase a Home? | MyKCM

Based on the Home Buyers and Sellers Generational Trends Report from NAR, the graph below shows an even closer look at the down payment percentage various age groups pay:As the graph shows, the only groups who put 20% or more down on average are older homebuyers who likely can use the sale of an existing home to fuel a larger down payment on their next home.

What does this mean for you?

If you’re a prospective homebuyer, it’s important to know you don’t have to put the full 20% down. And while saving for any down payment amount may feel like a challenge, keep in mind there are programs for qualified buyers that allow them to purchase a home with a down payment as low as 3.5%. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants.

To understand your options, you do need to do your homework. If you’re interested in learning more about down payment assistance programs, information is available through sites like downpaymentresource.com. Be sure to also work with a real estate advisor from the start to learn what you may qualify for in the homebuying process.

Bottom Line

Don’t let the myth of the 20% down payment halt your homebuying process before it begins. If you want to purchase a home this year, let’s connect to start the conversation and explore your options.

23 Thursday Sep 2021

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Fact or Fiction: Homebuyer Edition

Fact or Fiction: Homebuyer Edition [INFOGRAPHIC] | MyKCM

Some Highlights

  • When it comes to the current housing market, there are multiple misconceptions – from what the current supply of available homes looks like to how much houses are selling for.
  • It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction.
  • Trust the pros. If you want to understand why it’s still a good time to buy, let’s connect today.

Home Appreciation

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Home Price Appreciation Is Skyrocketing in 2021. What About 2022?

Home Price Appreciation Is Skyrocketing in 2021. What About 2022? | MyKCM

One of the major story lines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year.

Here are the latest percentages showing the year-over-year increase in home price appreciation:

The dramatic increases are seen at every price point and in all regions of the country.

Increases Are Across Every Price Point

Home Price Appreciation Is Skyrocketing in 2021. What About 2022? | MyKCM

According to the latest Home Price Index from CoreLogic, each price range is seeing at least a 19% increase year-over-year:

Increases Are Across Every Region in the Country

Home Price Appreciation Is Skyrocketing in 2021. What About 2022? | MyKCM

Every region in the country is experiencing at least a 14.9% increase in home price appreciation, according to the Federal Housing Finance Agency (FHFA):

Increases Are Across Each of the Top 20 Metros in the Country

Home Price Appreciation Is Skyrocketing in 2021. What About 2022? | MyKCM

According to the U.S. National Home Price Index from S&P Case-Shiller, every major metro is seeing at least a 13.3% growth in prices (see graph below):

What About Price Appreciation in 2022?

Prices are the result of the balance between supply and demand. The demand for single-family homes has been strong over the last 18 months. The supply of houses available for sale was near historic lows. However, there’s some good news on the supply side. Realtor.com reports:

“432,000 new listings hit the national housing market in August, an increase of 18,000 over last year.”

There will, however, still be a shortage of supply compared to demand in 2022. CoreLogic reveals:

“Given the widespread demand and considering the number of standalone homes built during the past decade, the single-family market is estimated to be undersupplied by 4.35 million units by 2022.”

Yet, most forecasts call for home price appreciation to moderate in 2022. The Home Price Expectation Survey, a survey of over 100 economists, investment strategists, and housing market analysts, calls for a 5.12% appreciation level next year. Here are the 2022 home appreciation forecasts from the four other major entities:

  1. The National Association of Realtors (NAR): 4.4%
  2. The Mortgage Bankers Association (MBA): 8.4%
  3. Fannie Mae: 5.1%
  4. Freddie Mac: 5.3%

Price appreciation is expected to slow in 2022 when compared to the record highs of 2021. However, it is still expected to be greater than the annual average of 4.1% over the last 25 years.

Bottom Line

If you owned a home over the past year, you’ve seen your household wealth grow substantially, and you’ll see another nice boost in 2022. If you’re thinking of buying, consider buying now as prices are forecast to continue increasing through at least next year.

What To Expect as Appraisal Gaps Grow

30 Wednesday Jun 2021

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In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates:

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Where Do Experts Say the Housing Market Is Heading?

26 Wednesday May 2021

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Where Do Experts Say the Housing Market Is Heading? | MyKCM

As we enter the middle of 2021, many are wondering if we’ll see big changes in the housing market during the second half of this year. Here’s a look at what some experts have to say about key factors that will drive the industry and the economy forward in the months to come.

realtor.com

“. . . homes continue to sell quickly in what’s normally the fastest-moving time of the year. This is in contrast with 2020 when homes sold slower in the spring and fastest in September and October. While we expect fall to be competitive, this year’s seasonal pattern is likely to be more normal, with homes selling fastest from roughly now until mid-summer.”

National Association of Realtors (NAR)

“Sellers who have been hesitant to list homes as part of their personal health safety precautions may be more encouraged to list and show their homes with a population mostly vaccinated by the mid-year.”

Danielle Hale, Chief Economist at realtor.com

“Surveys showed that seller confidence continued to rise in April. Extra confidence plus our recent survey finding that more homeowners than normal are planning to list their homes for sale in the next 12 months suggest that while we may not see an end to the sellers’ market, we might see the intensity of the competition diminish as buyers have more options to choose from.”

Freddie Mac

“We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.”

Bottom Line

Experts are optimistic about the second half of the year. Let’s connect today to talk more about the conditions in our local market.

Newest Development off of Hoo-Shoo-Too Rd in Baton Rouge

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10127 Clarks Ferry

This is an E3 Homes New Construction located in Clarks Ferry subdivision. This 4 bedroom 3 bath is decked out with all the bells & whistles. Boasting a modern farmhouse style that brings elegance but simplicity. Lots of great cabinets, large island, walk-in pantry, upgraded appliances, formal dining room, ventless gas fireplace, french doors leading to a large covered patio with full outdoor kitchen. Private master suite with his and her vanities, stand-alone tub and upgraded custom shower. You will not want to miss out on this new style home in this beautiful new subdivision. Call for all the details today.

10137 Clarks Ferry

Come fall in love with this new subdivision, new floor plan and very modern design. The farmhouse style is something you will fall in love with as soon as you pull in to the subdivision.This home is very well-designed with four bedrooms, three full baths, large closet, large utility, lots of cabinets, open floor plan, formal dining room, large island upgraded stainless appliances, gas fireplace with gas logs. The private master suite with en suit bath boast an oversized master closet, double vanities and stand alone tub, with custom shower. There is still time to make this home custom for your family by selecting your flooring, granite, light fixtures.and much more. Don’t wait too long to make this home yours!

New Listing in Baton Rouge!

01 Wednesday Apr 2020

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Call to get more information and to schedule your private tour

14141 JANE SEYMOUR DR

COVID 19 UPDATE

18 Wednesday Mar 2020

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https://conta.cc/33rg2sY

C O V I D – 1 9
It seems every day brings new challenges regarding COVID-19, and we are so sad to have to implement the following procedures.
However, the most important thing to us is the health and wellness of our family, friends, team, clients, and community. 
WE all need to be doing our part to avoid unknowingly spreading COVID-19.
Here are a few of the things Team Sisters are doing to keep our community safe… 
Team Sisters will be working remotely from home. All documentation will be presented and signed electronically. This is now becoming a necessity and we are very thankful to be able to have this capability for ourselves and our clients.
We are conducting meetings via conference phone calls as necessary for our buyer and seller consults. We are also available via text and email. 
We are temporarily postponing all in person Seller & Buyer consultations.
As always, we want our sellers’ listings to get plenty of attention and exposure, so while there is so much attention and distraction with COVID 19, we are working with our new sellers individually to assess whether or not we should list now or wait to list once things have calmed down a little so as to not miss out on new listing activity.
ONLINE Video tours in place of in person showings will also be implemented.
We are working on marketing plans for all of our active listings and will continue to market across all platforms.
We are continuing to conduct home searches for our active buyers and sending housing options via email. 
We are happy to report that despite COVID-19, we are currently negotiating several offers and still responding to inquiries on our listings. Rates are expected to remain low and once we are through this the market will take off and homes that are ready will sell quickly.
If there is anything we can do for you, please let us know.
Thank you for so much for your business and continued trust.
We will get through this together. Prayers for peace and calm during this time.
Please follow the CDC Guideline.
Stay strong & STAY HOME!
Team Sisters BR Web site

We are here for you!

17 Tuesday Mar 2020

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YOU CAN BUY A HOME WITH LESS THAN 20% DOWN!

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Many potential home buyers give up before they’ve even gotten started because they think they don’t have enough for a down payment. Often times it’s because they’ve bought into the myth that you can’t buy a home with less than a 20% down payment. Use our free infographic to show potential buyers that their dream is within reach and that now is the time to start their search.

Email it to potential clients, post it on your website, or use it in a blog post. Here are some post ideas to get you started:

  • Mortgage loan types
  • How to save for a down payment
  • Tips for first-time buyers
  • Breaking down the mortgage application process

CLICK THE LINK FOR ALL THE DETAILS

You CAN Buy a Home with Less than 20% Down