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Will the Housing Market Bloom This Spring?

Will the Housing Market Bloom
This Spring? | MyKCM

Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it's certain to be very different from the spring we experienced at this time last year. Here's what a few industry experts have to say about the housing market and how it will bloom this season.

Danielle Hale, Chief Economist, realtor.com:

Despite early weakness, we expect to see new listings grow in March...

Best Time to Sell in 2021 (Hint: The Early Bird Gets the Worm)

pandemic real estate sellA number of clients have approached me recently, indicating that they are THINKING about selling their Bay Area Home, however "they are just waiting to see how things play out with the pandemic".

The question that almost always follows is around my opinion of WHEN the best time to sell their home will be in 2021.  Since it's a popular question, I wanted to share my response and professional opinion as a top listing agent in the San Francisco Bay Area with anyone considering the sale of their home in 2021.

Not so Fast -- We Are In a Pandemic!

Like you, many homeowners seem to be in a ‘holding pattern’...

6 Simple Graphs Proving This Is Nothing Like Last Time

6 Simple Graphs Proving This
Is Nothing Like Last Time | MyKCM

Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead, real estate had one of its best years ever. Home sales and prices were both up substantially over the year before. 2020 was so strong that many now fear the market's exuberance mirrors that of the last housing boom and, as a result, we're now headed for another crash.

However, there are many reasons this real estate market is nothing like 2008. Here are six visuals to show the dramatic differences....

5 Reasons to Sell Your House This Spring 2021

5 Reasons to Sell Your House
This Spring | MyKCM

When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you're waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you're ready.

1. There's high demand from homebuyers.

Buyer demand is strong right now, and buyers are active in the market. ShowingTime, which tracks the average number of buyer showings on residential properties, recently announced that ...

The Reason Mortgage Rates Are Projected to Increase and What It Means for You

The Reason Mortgage Rates Are
Projected to Increase and What It Means for You | MyKCM

We're currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there's no guarantee rates will remain this ...

Millennials: Is It Time to Buy a Bigger Home?

Millennials: Is It Time to
Buy a Bigger Home? | MyKCM

In today's housing market, all eyes are on millennials. Not only are millennials the largest generation, but they're also currently between 25 and 40 years old. These are often considered prime homebuying years when many people begin to form their own households and invest in real estate. If you're like many millennials who are spending much more time at home these days, you may have a growing need for more space or upgraded features, making moving more desirable than ever.

For those millennials who already own a home, there's a great opportunity to move up...

The Luxury Market Is Attracting Buyers in 2021

The Luxury Market Is
Attracting Buyers in 2021 | MyKCM

As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic,...

3 Reasons We're Definitely Not in a Housing Bubble

3 Reasons We're Definitely
Not in a Housing Bubble | MyKCM

Home values appreciated by about ten percent in 2020, and they're forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.

1. This time, housing supply is extremely limited

The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.

In real estate, supply and demand are measured in ...

Do I Really Need a 20% Down Payment to Buy a Home?

Do I Really Need a 20% Down
Payment to Buy a Home? | MyKCM

Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today's low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. Today, there's still a common myth that you have to come up with 20% of the total sale price for your down payment. This means people who could buy a home may be putting their plans on hold because they don't have that much saved yet. The reality is, whether you're looking for your first home...

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