Bay Area California Real Estate Blog and News

Strength of the Economy Is Surprising the Experts

Strength of the Economy Is
Surprising the Experts | MyKCM

We're currently in the longest economic recovery in U.S. history. That has caused some to ask experts to project when the next economic slowdown (recession) could occur. Two years ago, 67% of the economists surveyed by the Wall Street Journal (WSJ) for the Economic Forecasting Survey predicted we would have a recession no later than the end of this year (2020). The same study done just three months ago showed more than one third of the economists still saw an economic slowdown right around the corner.

The news caused...

Where Have All the Houses Disappeared To?

Where Have All the Houses
Disappeared To? | MyKCM

If you're following what's happening in the current housing market, you've seen how the lack of newly constructed homes is a major reason there's a shortage of housing inventory available to today's buyers. Another reason is that the inventory of existing homes for sale is shrinking. According to the most recent Existing Home Sales Report from...

Should I Sell My House This Year?

Should I Sell My House This
Year? | MyKCM

If one of the questions you're asking yourself today is, Should I sell my house this year? the current Housing Opportunities and Market Experience (HOME) Survey from the National Association of Realtors® (NAR) should...

First-Time Buyers Are Searching for Existing Homes This Year

First-Time Buyers Are
Searching for Existing Homes This Year | MyKCM

In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a home over the next 12 months. The report indicates the percentage of all buyers that will be first-time buyers looking to purchase a home grew from 58% in Q4 2018 to 63% in Q4 2019.

The results revealed,

...

4007 Salem St. Concord Eichler - Just Listed

For anyone who’s been searching for that perfect, unadulterated Eichler showpiece home with many of its original mid-century details in tact, then 4007 Salem St. may just be the perfect fit. Set in the Rancho de los Santos neighborhood of Concord,  modern enthusiasts will appreciate the home’s full-height glass walls allowing for a seamless indoor/outdoor lifestyle, the globe lighting and in-floor radiant heating, updated VCT flooring, mahogany wood walls, stained tongue...

Housing Inventory Vanishing: What Is the Impact on You?

Housing Inventory Vanishing:
What Is the Impact on You? | MyKCM

The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains:

Last month saw the largest...

Homes Are More Affordable Today, Not Less Affordable

Homes Are More Affordable
Today, Not Less Affordable | MyKCM

There's a current narrative that owning a home today is less affordable than it has been in the past. The reason some are making this claim is because house prices have substantially increased over the last several years.

It's not, however, just the price of a home that matters.

Homes, in most cases, are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by over a full percentage point since December 2018. Another major piece of the affordability equation is a buyer's income. The median family income has risen by approximately 3% over the last year.

The National...

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your
Dream Home This Year | MyKCM

Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting.

1. Buying a Home is a Great Investment

Several reports indicate that real estate is a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps build equity, a form of investing for you and your family. According to ...