Best Time to Sell? When Competition Is at an All-Time Low

RSS Best Time to Sell? When Competition Is at an All-Time Low

  • Home Builder Confidence Hits All-Time Record September 23, 2020
    Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of […]
    KCM Crew
  • The Cost of a Home Is Far More Important than the Price September 22, 2020
    Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: “Newly pending sales are up 25.5% compared to the same week last year, the highest year-over-year increase in the weekly Zillow database.” Whenever there […]
    KCM Crew
  • Is the Economic Recovery Beating All Projections? September 21, 2020
    Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the […]
    KCM Crew
  • Homes Across the Country Are Selling Fast [INFOGRAPHIC] September 18, 2020
    Some Highlights Buyers are actively searching for and purchasing homes at a record-breaking pace. According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month. With homes moving from listing day to pending sale in an average of just 22 […]
    KCM Crew
  • How Low Inventory May Impact the Housing Market This Fall September 17, 2020
    Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale. Buyers are actively searching for and purchasing homes, looking to capitalize on today’s historically low interest rates, but […]
    KCM Crew
  • The Surging Real Estate Market Continues to Climb September 16, 2020
    Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following: Housing Demand – Growth in online search activity Home […]
    KCM Crew
  • Is Now a Good Time to Move? September 15, 2020
    How long have you lived in your current home? If it’s been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers by the National Association of Realtors (NAR), in 2019, homeowners were living in their homes for an average of 10 years. That’s a long time […]
    KCM Crew
  • Two New Surveys Indicate Urban to Suburban Lean September 14, 2020
    There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide. In a recent Realtor Magazine article, they discussed the issue and addressed comments made by Lawrence Yun, […]
    KCM Crew

Taking Advantage of Homebuying Affordability in Today’s Market

RSS Simplifying the Market™

  • Home Builder Confidence Hits All-Time Record September 23, 2020
    Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of […]
    KCM Crew
  • The Cost of a Home Is Far More Important than the Price September 22, 2020
    Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: “Newly pending sales are up 25.5% compared to the same week last year, the highest year-over-year increase in the weekly Zillow database.” Whenever there […]
    KCM Crew
  • Is the Economic Recovery Beating All Projections? September 21, 2020
    Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the […]
    KCM Crew
  • Homes Across the Country Are Selling Fast [INFOGRAPHIC] September 18, 2020
    Some Highlights Buyers are actively searching for and purchasing homes at a record-breaking pace. According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month. With homes moving from listing day to pending sale in an average of just 22 […]
    KCM Crew
  • How Low Inventory May Impact the Housing Market This Fall September 17, 2020
    Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale. Buyers are actively searching for and purchasing homes, looking to capitalize on today’s historically low interest rates, but […]
    KCM Crew
  • The Surging Real Estate Market Continues to Climb September 16, 2020
    Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following: Housing Demand – Growth in online search activity Home […]
    KCM Crew
  • Is Now a Good Time to Move? September 15, 2020
    How long have you lived in your current home? If it’s been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers by the National Association of Realtors (NAR), in 2019, homeowners were living in their homes for an average of 10 years. That’s a long time […]
    KCM Crew
  • Two New Surveys Indicate Urban to Suburban Lean September 14, 2020
    There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide. In a recent Realtor Magazine article, they discussed the issue and addressed comments made by Lawrence Yun, […]
    KCM Crew

Simplifying The Market

RSS Simplifying The Market

  • Home Builder Confidence Hits All-Time Record
    Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of […]
  • The Cost of a Home Is Far More Important than the Price
    Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: “Newly pending sales are up 25.5% compared to the same week last year, the highest year-over-year increase in the weekly Zillow database.” Whenever there […]
  • Is the Economic Recovery Beating All Projections?
    Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the […]
  • Homes Across the Country Are Selling Fast [INFOGRAPHIC]
    Some Highlights Buyers are actively searching for and purchasing homes at a record-breaking pace. According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month. With homes moving from listing day to pending sale in an average of just 22 […]
  • How Low Inventory May Impact the Housing Market This Fall
    Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale. Buyers are actively searching for and purchasing homes, looking to capitalize on today’s historically low interest rates, but […]
  • The Surging Real Estate Market Continues to Climb
    Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following: Housing Demand – Growth in online search activity Home […]
  • Is Now a Good Time to Move?
    How long have you lived in your current home? If it’s been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers by the National Association of Realtors (NAR), in 2019, homeowners were living in their homes for an average of 10 years. That’s a long time […]
  • Two New Surveys Indicate Urban to Suburban Lean
    There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide. In a recent Realtor Magazine article, they discussed the issue and addressed comments made by Lawrence Yun, […]

Do you have the Jack to pay for Closing Costs?

Have You Budgeted for Closing Costs? | MyKCM

Saving for a down payment is a key step in the homebuying process however, it’s not the only monies you may need to include in your budget. Another factor that’s important to plan for is the closing costs and prepaid items required to obtain a mortgage. I cant tell you how many buyers contact us wanting to buy a $200,000 home putting down 5% and thinking they only need $10,000. There is more to this and getting the right details upfront makes a big difference.

What Are Closing Costs?

According to some experts – bla bla bla,

When you close on a home, a number of fees will be collected. They typically range anywhere from 2% to 5% of the total cost of the home, and can include title insurance, Lender fees, Settlement fees, doc preparation fees, and more.”

Experts further share

You will see lots of documents in front of you prior to closing and also on closing day. By closing you will not have enough time to read all the docs. We recommend that you work closely with your real estate agent, lender, and attorney, if you have one, to get all the documents you need ahead of time.

For closing the most important thing to read is the closing disclosure, which shows your loan terms, final closing costs, and any outstanding fees. You are required to acknowledge this form no later than 3 days three days before closing since, once you (the borrower) are required to sign it. If you have any questions about the numbers or what any of the mortgage terms mean, this is the time to ask—your lender and real estate agent are great resources for getting you all the answers you need.”

Bottom Line

We are here to discuss the home buying process, to be sure your plan includes budgeting for what you need to purchase your dream home – without any surprises! We can even share a few secrets for how to do this with with less cash out of your pocket. Ask us about our Home Express Mortgage Plan.

4 Most Popular Bottom Line Investments in America

4 Most Popular Bottom Line Investments in America | MyKCM

Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks, gold, and savings accounts.

For the sixth year in a row, real estate has come out on top as the best long-term investment! That has not always been the case. Gallup explains:

“Between 2008 and 2010, covering most of the Great Recession period that saw plummeting home and stock values, Americans were as likely to name savings accounts or CDs as the best long-term investment as they were to name stocks or real estate.”

This year’s results showed that 35% of Americans chose real estate, followed by stocks at 27%. The full results are shown in the chart below.

4 Most Popular Bottom Line Investments in America | MyKCM

Bottom Line

Now that the real estate market has recovered, so has the belief of the American people in the stability of housing as a long-term investment.

Reasons – Pre-Approval Is the First Step in the 2020 Homebuying Journey

Three Reasons Why Pre-Approval Is the First Step in the 2020 Homebuying Journey | MyKCM

When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd. Here are three reasons why pre-approval should be your first step in the homebuying process.

1. Gain a Competitive Advantage

Low inventory, like we have today, means homebuyers need every advantage they can get to make a strong impression and close the deal. One of the best ways to get one step ahead of other buyers is to get pre-approved for a mortgage before you make an offer. For one, it shows the sellers you’re serious about buying a home, which is always a plus in your corner.

2. Accelerate the Homebuying Process

Pre-approval can also speed up the homebuying process, so you can move faster when you’re ready to make an offer. In a competitive arena like we have today, being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.

3. Know What You Can Borrow and Afford

Here’s the other thing: if you’re pre-approved, you also have a better sense of your budget, what you can afford, and ultimately how much you’re eligible to borrow for your mortgage. This way, you’re less apt to fall in love with a home that may be out of your reach. Why spend the time and money looking for a home that may be out of yoru budget. Take advantage of our Home Express Mortgage Plan

Freddie Mac sets out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

Freddie Mac also describes the ‘4 Cs’ that help determine the amount you’ll be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or Cash Reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

While there are still many additional steps you’ll need to take in the homebuying process, it’s clear why pre-approval is always the best place to begin. It’s your chance to gain the competitive edge you may need if you’re serious about owning a home.

Bottom Line

Getting started with pre-approval is the best way to begin the homebuying journey. Let’s get together today to make sure you’re on the fastest path to homeownership.

Are Low Interest Rates Here to Stay?

Are Low Interest Rates Here to Stay? | MyKCM

Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 3.82% last week!

This is great news for anyone who is planning on buying a home this Summer! 

To put the low rates in perspective, the average for 2018 was 4.6%! The chart below shows the recent drop, and also shows where the experts at Freddie Mac believe rates will be by the end of 2019.

Are Low Interest Rates Here to Stay? | MyKCM

Bottom Line

If you plan on buying a home this year, let’s get together to start your home search to ensure you can lock in these historically low rates today!

The Cost of Waiting Until Next Year to Buy?

What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC] | MyKCM

Some Highlights:

  • The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac forecasts interest rates to rise to 4.5% by the Q4 2020.
  • CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months.
  • If you are ready and willing to buy your dream home, find out if you are able to!

Mortgage Rates Down! US-China Trade War creates opportunity… For Now!

US-CHINA TRADE WAR DRIVES DOWN RATES… FOR NOW

The US-China trade war has caused global interest rates to drop as investors divert capital away from the stock market and into the bond market. The 25% tariff recently placed on Chinese imports into the US means that these products could potentially cost 25% more than what they cost last year, driving up consumer prices on those goods and services. It remains to be seen whether companies will pass on the higher costs to their customers, or whether they’ll absorb the cost increases themselves. Either way, corporations are likely to earn less profit, which is the main reason why stock prices have tumbled recently.

In the meantime, bonds have benefited as investors have shifted their funds into the safety of the bond market to ride out the storm. This has caused interest rates on government bonds as well as mortgages to go down. In fact, mortgage rates are at their best levels of the year. But how long will this last?

Generally, tariffs and trade wars are bad for both stocks and bonds. That’s because tariffs carry with them the risk of higher inflation. Whenever there is inflation (higher prices), interest rates also go up. That’s because inflation erodes the purchasing power of the interest that’s being paid to the one lending the money. For example, if you pay 5% interest to a lender who lends you $100,000, that lender is earning $5,000 each year. But if that $5,000 has less purchasing power due to inflation, the lender may ask you to pay 6% instead.

That’s the long-term risk with tariffs and trade wars. Although interest rates are very low right now, market conditions could change at any time. If you’re thinking of buying a new house or refinancing your mortgage, you may want to get moving on it now, because the longer you wait, the bigger the risk you’re taking that interest rates could go higher. Do not wait!

Contact me for more info or evaluate your options!

Is Your House Priced To Sell Immediately (PTSI)?

Is Your House Priced To Sell Immediately (PTSI)? | MyKCM

In today’s real estate market, with more houses coming to market every day and eager buyers searching for their dream home, setting the right price for your house is one of the most important things you can do.

According to CoreLogic’s latest Home Price Indexhome values have risen at over 6% a year over the past two years, but have started to slow to 4.4% over the last 12 months. By this time next year, CoreLogic predicts that home values will be 4.6% higher.

Is Your House Priced To Sell Immediately (PTSI)? | MyKCM

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little OVER market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing! (see the chart below)Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so that demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing with each other over the house.

The key to selling your house in 2019 is making sure your house is Priced To Sell Immediately (PTSI)! That way, your home will be seen by the most buyers and will sell at a great price before more competition comes to market!

Bottom Line

If you are debating listing your house for sale, let’s get together to discuss how to price your home appropriately for our area and maximize your exposure this Spring Market!