Keeping Current Matters

Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes.Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!At the same time, however, inventory levels of homes for sale have dropped dramatically as compared to this time last year.Trulia reported that “in Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop we’ve seen since Q2 2013.” Here is a chart showing the decrease in inventory levels by category:The largest drop in inventory was in the starter home category which saw a 19% dip in listings.Bottom LineDemand for your home is very strong right now while your competition (other homes for sale) is at a historically . . .

Keeping Current Matters

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 4% or more over the next twelve months. One major challenge in such a market is the bank appraisal.When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth and what an appraiser’s evaluation of that same home is.In the latest release, the disparity was the narrowest it has been in . . .

By The KCM CrewDefinitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!How did we finish 2017?New-home sales were at their highest level in a decade.Sales of previously owned homes were at their highest level in more than a decade.Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.And Bloomberg Business just reported:“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.”And the National Association of Realtors revealed that buyer traffic is stronger this winter than it was during the spring buying season last . . .

Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional!You Need an Expert Guide If You Are Traveling a Dangerous PathThe field of real estate is loaded with landmines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your “dream home.”A great agent will also have relationships with mortgage professionals and other experts that you will need in order to secure your dream home. You Need a Skilled NegotiatorIn today’s market, hiring a . . .

Keeping Current Matters

It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2017. Here is a graphic showing the results:The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes . . .

The National Association of Realtors (NAR) recently released their 2017 Profile of Home Buyers and Sellers in which they surveyed recent home buyers and sellers about their experiences. An entire section of the profile is dedicated to buyers’ experiences with their real estate agents.If you are looking to buy in 2018, here are the top 5 benefits of using a real estate agent when buying your dream home as cited by recent buyers:1. Helped the buyer understand the process – 60%If you are new to the home buying process, an experienced real estate professional can explain exactly what to expect during the entire transaction so you aren’t caught off guard.2. Pointed out unnoticed features/faults with the property – 56%Whether it’s pointing out possible uses for an extra bedroom/office, or using their trained eye to see potentially disastrous hazards that may be . . .