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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...

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 ...

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...

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...

What Record-Low Housing Inventory Means for You

What Record-Low Housing
Inventory Means for You | MyKCM

The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their...

Why Moving May Be Just the Boost You Need

Why Moving May Be Just the
Boost You Need | MyKCM

As we look back over the past year, we've certainly lived through one of the most stressful periods in recent history. After spending so much more time at home throughout the health crisis, some are wondering if they should move to improve their mental health and well-being. This is no surprise since the U.S. Census Bureau reported an increase in the percentage of adults with symptoms of anxiety and depression in a recent ...

Prop 19 - Big News for Homeowners

Prop 19 Passes in California - transfer tax base
Proposition 19 was approved by voters in November of last year, but it will soon take effect. Many homeowners in our area have expressed interest in this new proposition since they could be eligible for fairly significantly property tax savings when they move, especially if they have lived in their home for some time and the value of their home has increased substantially since it was originally purchased.

A practical example of Proposition 19

Before Proposition 19, if Barry Buyer bought a home in 1975 for $200,000 and the property was now worth $1 million, Barry...

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