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Why It Makes Sense To Move Before Spring

Why It Makes Sense To Move
Before Spring | MyKCM

Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it's the best time to find a home. However, that isn't always the case when you factor in the competition you could face with other buyers at that time of year. If you're ready to buy a home, here's why it makes sense to move before the spring market picks up.

Spring Should Bring a Wave of Buyers to the Market

In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of...

Why You Shouldn't Fear Today's Foreclosure Headlines

Why You Shouldn't Fear
Today's Foreclosure Headlines | MyKCM

If you've seen recent headlines about foreclosures surging in the housing market, you're certainly not alone. There's no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what's happening today. Here's a deeper look.

According to the Year-End 2022 U.S. Foreclosure Market...

Want To Sell Your Bay Area Home? Price it Right from the start!

Want To Sell Your House?
Price It Right. | MyKCM

Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you're thinking of selling your house soon, that means you'll want to adjust your expectations accordingly. As realtor.com explains:

. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible...

Think Twice Before Waiting for 3% Mortgage Rates

Think Twice Before Waiting
for 3% Mortgage Rates | MyKCM

Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year's peak. Sam Khater, Chief Economist at Freddie Mac, shares:

...

What Past Recessions Tell Us About the Housing Market

What Past Recessions Tell
Us About the Housing Market | MyKCM

It doesn't matter if you're someone who closely follows the economy or not, chances are you've heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let's lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:

Two-in-three economists are forecasting a recession in 2023 . . .

As talk about a potential recession grows, you may be wondering what...

What Experts Are Saying About the 2023 Housing Market

What Experts Are Saying
About the 2023 Housing Market | MyKCM

If you're thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?

An article from HousingWire offers this perspective:

The red-hot housing market of the past 2 ½ years was characterized by sub-three percent...

Wondering How Much You Need To Save for a Down Payment?

Wondering How Much You Need
To Save for a Down Payment? | MyKCM

If you're getting ready to buy your first home, you're likely focused on saving up for everything that purchase involves. One cost that's likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be.

Understand 20% Isn't Always the Typical Down Payment

Freddie Mac explains:

. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers...

How to Prepare to Buy A Home

And just like that, the holiday season has come and gone. I hope you have had a lovely end of the year filled with joy and restoration. Maybe you’ve conjured up some New Year resolutions or goals for 2023. If one of those things on your is to buy a new home, there’s no better time than now to utilize that new year momentum and get the ball rolling in the right direction. You might be thinking that there's not a lot of inventory to shop through just yet - and if you’re in Marin county - you’re not wron! But there are plenty of other steps that can be taken in the meantime so when the buyer competition picks up in spring (as it always does) and homes start hitting the market that interest you, you are ahead of the curve and don’t need to stress out about missing an opportunity to buy. 

While there are several additional tasks I could recommend to help strategize your home search, here are five simple (and crucially important)...

Financial Fundamentals for First-Time Homebuyers

Financial Fundamentals for
First-Time Homebuyers | MyKCM

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you're financially ready for your purchase. Here are just a few of the financial fundamentals you'll need to focus on as you set out to buy a home.

Build Your Credit

Your credit is one element that helps determine which home loan you'll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run.

So how do you make sure your credit...

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