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What Impact Might COVID-19 Have on Home Values?

What Impact Might COVID-19
Have on Home Values? | MyKCM

A big challenge facing the housing industry is determining what impact the current pandemic may have on home values. Some buyers are hoping for major price reductions because the health crisis is straining the economy.

The price of any item, however, is determined by supply and demand, which is how many items are available in relation to how many consumers want to buy that item.

In residential real estate, the measurement used to decipher that ratio is called months supply of inventory. A normal market would have 6-7 months of inventory. Anything over seven months would be...

Uncertainty Abounds in the Search for Economic Recovery Timetable

Uncertainty Abounds in the
Search for Economic Recovery Timetable | MyKCM

Earlier this week, we discussed how most projections from financial institutions are calling for a quick V-shaped recovery from this economic downturn, and there's research on previous post-pandemic recoveries to support that expectation.

In addition, we noted how there are some in the business community who believe we may instead be headed for a U-shaped recovery, where the return to previous levels of economic success won't occur until the middle of next year. Yesterday, ...

Keys to Selling Your House Virtually

Keys to Selling Your House
Virtually | MyKCM

In a recent survey by realtor.com, people thinking about selling their homes indicated they're generally willing to allow their agent and some potential buyers inside if done under the right conditions. They're less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days. The question is, if you need...

Will This Economic Crisis Have a V, U, or L-Shaped Recovery?

Will This Economic Crisis
Have a V, U, or L-Shaped Recovery? | MyKCM

Many American businesses have been put on hold as the country deals with the worst pandemic in over one hundred years. As the states are deciding on the best strategy to slowly and safely reopen, the big question is: how long will it take the economy to fully recover?

Let's look at the possibilities. Here are the three types of recoveries that follow most economic slowdowns (the definitions are from the financial glossary at Market Business News):

  • V-shaped recovery: an economic period...

Today's Homebuyers Want Lower Prices. Sellers Disagree.

Today's Homebuyers Want Lower
Prices. Sellers Disagree. | MyKCM

The uncertainty the world faces today due to the COVID-19 pandemic is causing so many things to change. The way we interact, the way we do business, even the way we buy and sell real estate is changing. This is a moment in time that's even sparking some buyers to search for a better deal on a home. Sellers, however, aren't offering a discount these days; they're holding steady on price.

According to the most recent ...

Why NOW is a Smart Time to Find A Realtor

Why NOW is a Smart Time to find a Realtor

Roads lead to Home

So….You want to know where the Real Estate Market is headed and what your options are?

You are not alone!  There is so much uncertainty right now and what we know today will surely change by tomorrow. We (me and all the other active realtors) are staying informed and tracking the daily changes and we are here to answer your questions and get you back on track. A huge change in our daily, Realtor activities during this SIP has given us the gift of time and the one thing we are dying to use it for is sharing our wealth of knowledge and expertise with you! 

If you are planning on buying or selling a home in the next 18-24 months, then NOW is the perfect time to find and commit to an active and seasoned Realtor. We can get you started on first steps, next steps...

What If I Need to Sell My Home Now? What Can I Do?

What If I Need to Sell My
Home Now? What Can I Do? | MyKCM

Every day that passes, people have a need to buy and sell homes. That doesn't stop during the current pandemic. If you've had a major life change recently, whether with your job or your family situation, you may be in a position where you need to sell your home – and fast. While you probably feel like timing with the current pandemic isn't on your side, making a move is still possible. Rest assured, with technology at your side and fewer sellers on the market in most areas, you can list your house and make it happen safely and effectively, especially when following the current COVID-19 guidelines set forth by the National Association of Realtors (...

Recession? Yes. Housing Crash? No.

Recession? Yes. Housing
Crash? No. | MyKCM

With over 90% of Americans now under a shelter-in-place order, many experts are warning that the American economy is heading toward a recession, if it's not in one already. What does that mean to the residential real estate market?

What is a recession?

According to the National Bureau of Economic Research:

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production,...

Will Surging Unemployment Crush Home Sales?

Will Surging Unemployment
Crush Home Sales? | MyKCM

Ten million Americans lost their jobs over the last two weeks. The next announced unemployment rate on May 8th is expected to be in the double digits. Because the health crisis brought the economy to a screeching halt, many are feeling a personal financial crisis. James Bullard, President of the Federal Reserve Bank of St. Louis, explained that the government is trying to find ways to assist those who have lost their jobs and the companies which were forced to close (think: your neighborhood restaurant). In a ...

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