Philadelphia Real Estate BlogRecently posted or modified blog posts by tag - opportunityhttps://www.reidrosenthalgroup.com/blog/Copyright ReidRosenthalGroup.com2023-02-01T09:25:48-07:00tag:reidrosenthalgroup.com,2012-09-20:11699NEW LISTING at Parc Rittenhouse! <a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/newlisting/" role="link" tabindex="0">#NEWLISTING</a> At The Prestigious Parc Rittenhouse Condominiums!
<br /><br />Here is your chance to live in one of the most renowned residential buildings in Philadelphia, located right on the East side of Rittenhouse Square! The prestigious Parc Rittenhouse condominiums is known for its incredible location, luxurious amenities and friendly staff. This stunning and roomy one bedroom condo boasts over 700 sq ft of living space and offers gleaming hardwood floors, various modern finishes, ample closet space, a large living room with an abundance of natural light, and a separate dining area that can accommodate a large dining table and can double as a great office space. Parc Rittenhouse stands majestically on the picturesque Rittenhouse Square, where you'll find the best dining, shopping, and recreation. Parc is a pet-friendly building (restrictions may apply), you'll enjoy a 24-hour concierge and maintenance, landscaped rooftop with outdoor pool and sundeck, whirlpool spa, kiddy pool, state-of-the-art fitness center, board room, media room, bike storage, pet-friendly on-site management, and underground parking (for an extra monthly fee and when available).
<br />🏠 1 Bedroom<br />🏠 1 Bathrooms<br />🏠 717 Square Feet <br />🏠 Luxurious Amenities <br />🏠 In Unit Washer / Dryer <br />🏠 1 Year Pre-Paid Parking Credit W/An Acceptable Offer<br />🏠 24-hour doormen, common rooftop terrace Pool & Hot Tub<br />🏠 State-Of-The-Art Fitness Center <br />🏠 Let’s Hire Reid Honey!<br /><br />Who you work with matters! Call us today if you are interested in purchasing real estate in Philadelphia and the Suburbs or if you’d like to learn more about The Rosenthal Group’s proprietary and powerful marketing system. We would love to make you our next happy customer! 267.626.7613 <br /><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/condos/" role="link" tabindex="0">#Condos</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/parcrittenhouse/" role="link" tabindex="0">#ParcRittenhouse</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/rittenhousesquarecondos/" role="link" 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class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/realestate/" role="link" tabindex="0">#realestate</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/homesforsale/" role="link" tabindex="0">#homesforsale</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/therosenthalgroup/" role="link" tabindex="0">#therosenthalgroup</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/bhhs/" role="link" tabindex="0">#BHHS</a> <br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/foreverbrand/" role="link" tabindex="0">#Foreverbrand</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/everythingyouneed/" role="link" tabindex="0">#Everythingyouneed</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/realtorsinphiladelphia/" role="link" tabindex="0">#realtorsinphiladelphia</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/toprealtor/" role="link" tabindex="0">#TopRealtor</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/consumerstrong/" role="link" tabindex="0">#Consumerstrong</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/bhhsproud/" role="link" tabindex="0">#BHHSProud</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/bhhsplacetobe/" role="link" tabindex="0">#BHHSPlacetobe</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/letshirereid/" role="link" tabindex="0">#letshirereid</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/fitlerclub/" role="link" tabindex="0">#fitlerclub</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/unionleague/" role="link" tabindex="0">#unionleague</a><br /><a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz _aa9_ _a6hd" href="https://www.instagram.com/explore/tags/selfies/" role="link" tabindex="0">#selfies</a>2023-02-01T09:16:01-07:002023-02-01T09:25:48-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:11387Planning To Sell Your House? It’s Critical To Hire a Pro.Planning To Sell Your House? It’s Critical To Hire a Pro.
<img width="750" height="410" src="https://files.mykcm.com/2022/12/21071208/planning-to-sell-your-house-its-critical-to-hire-a-pro-KCM.jpg" class="attachment-entry size-entry wp-post-image" alt="Planning To Sell Your House? It’s Critical To Hire a Pro | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/12/21071208/planning-to-sell-your-house-its-critical-to-hire-a-pro-KCM.jpg 750w, https://files.mykcm.com/2022/12/21071208/planning-to-sell-your-house-its-critical-to-hire-a-pro-KCM-600x328.jpg 600w, https://files.mykcm.com/2022/12/21071208/planning-to-sell-your-house-its-critical-to-hire-a-pro-KCM-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
With higher mortgage rates and moderating buyer demand, conditions in the housing market are different <a href="https://www.simplifyingthemarket.com/2022/12/21/what-to-expect-from-the-housing-market-in-2023/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="today" target="_blank" rel="noopener noreferrer">today</a>. And if you’re thinking of <a href="https://www.simplifyingthemarket.com/2022/11/22/what-homeowners-want-to-know-about-selling-in-todays-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="selling your house" target="_blank" rel="noopener noreferrer">selling your house</a>, it’s important to understand how the market has changed and what that means for you. The best way to make sure you’re in the know is to work with a trusted housing market expert.
Here are five reasons working with a professional can ensure you’ll get the most out of your sale.
1. A Real Estate Advisor Is an Expert on Market Trends
Leslie Rouda Smith, 2022 President of the National Association of Realtors (NAR), <a href="https://www.nar.realtor/newsroom/nar-finds-share-of-first-time-home-buyers-smaller-older-than-ever-before" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
"During challenging and changing market conditions, one thing that's calming and constant is the assurance that comes from a Realtor® being in your corner through every step of the home transaction. Consumers can rely on Realtors®' unmatched work ethic, trusted guidance and objectivity to help manage the complexities associated with the home buying and selling process.”
An expert real estate advisor has the latest information about national trends and your local area too. More importantly, they’ll know what all of this means for you so they’ll be able to help you make a decision based on trustworthy, data-bound information.
2. A Local Professional Knows How To Set the Right Price for Your House
<a href="https://www.simplifyingthemarket.com/2022/12/06/whats-going-on-with-home-prices-ask-a-professional/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="Home price appreciation" target="_blank" rel="noopener noreferrer">Home price appreciation</a> has moderated this year. If you sell your house on your own, you may be more likely to overshoot your asking price because you’re not as aware of where prices are today. If you do, you run the risk of deterring buyers or seeing your house sit on the market for longer.
Real estate professionals provide an unbiased eye when they help you determine a price for your house. They’ll use a variety of factors, like the condition of your home and any upgrades you’ve made, and compare your house to recently sold homes in your area to find the best price for today’s market. These steps are key to making sure it’s set to move as quickly as possible.
3. A Real Estate Advisor Helps Maximize Your Pool of Buyers
Since buyer demand has cooled this year, you'll want to do what you can to help bring in more buyers. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house gets in front of people looking to make a purchase. Investopedia<a href="https://www.investopedia.com/articles/personal-finance/071514/8-reasons-not-sell-your-home-without-agent.asp#toc-4-agents-access-large-networks" title="explains" target="_blank" rel="noopener noreferrer">explains</a> why it’s risky to sell on your own without the network an agent provides:
“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home.”
Without access to the tools and your agent’s marketing expertise, your buyer pool – and your home’s selling potential – is limited.
4. A Real Estate Expert Will Read – and Understand – the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. NAR <a href="https://www.nar.realtor/magazine/tools/client-education/handouts-for-sellers/8-reasons-to-work-with-a-realtor" title="explains" target="_blank" rel="noopener noreferrer">explains</a> it like this:
“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”
A real estate professional knows exactly what all the fine print means and how to work through it efficiently. They’ll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.
5. A Trusted Advisor Is a Skilled Negotiator
In today’s market, buyers are also regaining some negotiation power as bidding wars ease. If you sell without a professional, you’ll also be responsible for any back-and-forth. That means you’ll have to coordinate with:
The buyer, who wants the best deal possible
The buyer’s agent, who will use their expertise to advocate for the buyer
The inspection company, which works for the buyer and will almost always find concerns with the house
The appraiser, who assesses the property’s value to protect the lender
Instead of going toe-to-toe with all the above parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.
Bottom Line
Don’t go at it alone. If you’re planning to sell your house this winter, let’s connect so you have an expert by your side to guide you in today’s market.
2022-12-29T06:48:00-07:002023-01-03T06:50:35-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:10947Should You Update Your House Before You Sell? Ask a Real Estate Professional. [INFOGRAPHIC]Should You Update Your House Before You Sell? Ask a Real Estate Professional. [INFOGRAPHIC]
<img width="1046" height="2648" src="https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM-1046x2648.png" class="attachment-entry size-entry wp-post-image" alt="Should You Update Your House Before You Sell? Ask a Real Estate Professional. [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM-1046x2648.png 1046w, https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM-237x600.png 237w, https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM-404x1024.png 404w, https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM-768x1944.png 768w, https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM-607x1536.png 607w, https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM-809x2048.png 809w, https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM-100x253.png 100w, https://files.mykcm.com/2022/11/16134552/Should-You-Update-Your-House-Before-You-Sell-Ask-A-Real-Estate-Professional-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" /><br /><br />
Some Highlights
You may be wondering what needs to be renovated before you <a href="https://www.simplifyingthemarket.com/2022/11/02/sell-your-house-before-the-holidays/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="sell your house" target="_blank" rel="noopener noreferrer">sell your house</a>. In today’s <a href="https://www.simplifyingthemarket.com/2022/11/09/whats-ahead-for-mortgage-rates-and-home-prices/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="shifting market" target="_blank" rel="noopener noreferrer">shifting market</a>, making your house appealing is more <a href="https://www.realtor.com/advice/sell/how-home-sellers-can-prepare-for-a-recession-and-still-sell-their-home/" title="important than ever" target="_blank" rel="noopener noreferrer">important than ever</a>.
That’s why it’s essential to lean on a real estate professional who has in-depth knowledge of today’s housing market. They know what buyers are <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-remodeling-impact-report-04-19-2022.pdf" title="looking for" target="_blank" rel="noopener noreferrer">looking for</a> and how to highlight any upgrades you make.
Let’s connect so you know where to focus your efforts so your house will stand out in a today’s market.
2022-11-18T06:00:00-07:002022-11-18T06:54:28-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:10433How To Prep Your House for Sale This FallHow To Prep Your House for Sale This Fall
<img width="750" height="410" src="https://files.mykcm.com/2022/09/30153109/20221003-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="How To Prep Your House for Sale This Fall | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/09/30153109/20221003-KCM-Share.jpg 750w, https://files.mykcm.com/2022/09/30153109/20221003-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/09/30153109/20221003-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
Today’s <a href="https://www.simplifyingthemarket.com/2022/09/14/is-the-real-estate-market-slowing-down-or-is-this-a-housing-bubble/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="housing market" target="_blank" rel="noopener noreferrer">housing market</a> is different than it was just a few months ago. And if you’re thinking about <a href="https://www.simplifyingthemarket.com/2022/09/21/top-reasons-homeowners-are-selling-their-houses-right-now/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="selling your house" target="_blank" rel="noopener noreferrer">selling your house</a>, that may leave you wondering what you need to do differently as a result. The answer is simple. Taking the time upfront to <a href="https://www.simplifyingthemarket.com/2022/09/12/getting-your-house-ready-to-sell-work-with-an-agent-for-expert-advice/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="prep your house" target="_blank" rel="noopener noreferrer">prep your house</a> appropriately and create a solid plan can help bring in the greatest return on your investment.
Here are a few simple tips to make sure you maximize the sale of your house this fall.
1. Price It Right
One of the first things buyers will notice is the price of your house. That’s because the price sends a message to home shoppers. Pricing your house too high to begin with could put you at a disadvantage by discouraging buyers from making an offer. On the flip side, pricing your house too low may make buyers worry there’s some underlying issue or something wrong with the home.
Your goal in <a href="https://www.simplifyingthemarket.com/2022/08/09/selling-your-house-your-asking-price-matters-more-now-than-ever/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="pricing your house" target="_blank" rel="noopener noreferrer">pricing your house</a> is to gain the attention of prospective buyers and get them to make an offer. And with price growth and <a href="https://www.simplifyingthemarket.com/2022/09/19/will-my-house-still-sell-in-todays-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="buyer demand" target="_blank" rel="noopener noreferrer">buyer demand</a> moderating, as well as a greater <a href="https://www.simplifyingthemarket.com/2022/08/25/why-you-may-want-to-start-your-home-search-today/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="supply of homes" target="_blank" rel="noopener noreferrer">supply of homes</a> available for sale, pricing your home appropriately for where the market is today has become more important than ever before.
But how do you know that perfect number? Pricing your house isn’t a guessing game. It takes skill and expertise. Work with a <a href="https://www.simplifyingthemarket.com/2022/09/09/why-its-so-important-to-hire-a-pro-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="trusted real estate advisor" target="_blank" rel="noopener noreferrer">trusted real estate advisor</a> to determine the current market value for your home.
2. Keep It Clean
It may sound simple but keeping your house clean is another key to making sure it gets the attention it deserves. As realtor.com says in the <a href="https://www.realtor.com/advice/sell/home-selling-checklist-things-to-do-before-selling/" title="Home Selling Checklist" target="_blank" rel="noopener noreferrer">Home Selling Checklist</a>:
“When selling your home, it’s important to keep everything tidy for buyers, and you never know when a buyer is going to want to schedule a last-minute tour.”
Before each buyer visits, assess your space and determine what needs your attention. Wash the dishes, make the beds, and put away any clutter. Doing these simple things can reduce potential distractions for buyers.
For more tips, check out <a href="https://www.simplifyingthemarket.com/2022/09/23/fall-home-selling-checklist-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="this checklist" target="_blank" rel="noopener noreferrer">this checklist</a> for preparing your house for sale. Ultimately an agent is your best resource for tailored advice, but this list can help get you started.
3. Help Buyers Feel at Home
Finally, it’s important for buyers to see all the possible ways they can make your house their next home. An easy first step to create this blank canvas is removing personal items, like pictures, awards, and sentimental belongings. It’s also a good idea to remove any excess furniture to help the rooms feel bigger and make sure there’s ample space for touring buyers to stand and look at the layout.
If you’re unsure what should be packed away and what can stay, consult your trusted real estate advisor. Spending the time on this step can pay off in the long run. As a <a href="https://www.nar.realtor/blogs/styled-staged-sold/why-home-staging-inspires-the-best-prices-in-any-housing-market" title="recent article" target="_blank" rel="noopener noreferrer">recent article</a> from the National Association of Realtors (NAR) explains:
“Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market. The right arrangements can move you into a higher price-point and help buyers fall in love the moment they walk through the door.”
Bottom Line
<a href="https://www.simplifyingthemarket.com/2022/09/08/should-i-sell-my-house-this-year/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="Selling a house" target="_blank" rel="noopener noreferrer">Selling a house</a> requires prep work and expertise. If you’re looking to sell your house in Philadelpha or The Main Line this season, let’s connect so you have advice on how to get it ready to list, how to help it stand out in today’s shifting market, and more.
2022-10-03T04:37:00-07:002022-10-03T07:51:29-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:10343Top Reasons Homeowners Are Selling Their Houses Right NowTop Reasons Homeowners Are Selling Their Houses Right Now
<img width="750" height="410" src="https://files.mykcm.com/2022/09/20103544/20220921-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Top Reasons Homeowners Are Selling Their Houses Right Now | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/09/20103544/20220921-KCM-Share.jpg 750w, https://files.mykcm.com/2022/09/20103544/20220921-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/09/20103544/20220921-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
Some people believe there’s a group of homeowners who may be reluctant to <a href="https://www.simplifyingthemarket.com/2022/09/12/getting-your-house-ready-to-sell-work-with-an-agent-for-expert-advice/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="sell their houses" target="_blank" rel="noopener noreferrer">sell their houses</a> because they don’t want to lose the historically low mortgage rate they have on their current home. You may even have the same hesitation if you’re <a href="https://www.simplifyingthemarket.com/2022/09/08/should-i-sell-my-house-this-year/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="thinking about selling" target="_blank" rel="noopener noreferrer">thinking about selling</a> your house.
<a href="https://nationalmortgageprofessional.com/news/mortgage-rates-rise-half-homeowners-say-so-what" title="Data" target="_blank" rel="noopener noreferrer">Data</a> shows 51% of homeowners have a mortgage rate under 4% as of April this year. And while it’s true mortgage rates are higher than that right now, there are other non-financial factors to consider when it comes to making a move. In other words, your mortgage rate is important, but you may have other things going on in your life that make a move essential, regardless of where rates are today. As Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), <a href="https://www.nar.realtor/newsroom/home-buyers-motivated-by-desire-to-be-closer-to-family-and-friends-sellers-collected-full-asking-price" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“Home sellers have historically moved when something in their lives changed – a new baby, a marriage, a divorce or a new job. . . .”
So, if you’re thinking about selling your house, it may help to explore the other reasons homeowners are choosing to make a move today. The <a href="https://www.realtor.com/research/2022-summer-sellers-survey/" title="2022 Summer Sellers Survey" target="_blank" rel="noopener noreferrer">2022 Summer Sellers Survey</a>by realtor.com asked recent home sellers why they decided to sell. The visual below breaks down how those homeowners responded:
<a href="https://files.mykcm.com/2022/09/20103542/20220921-MEM-Eng.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-104830" src="https://files.mykcm.com/2022/09/20103542/20220921-MEM-Eng.png" alt="Top Reasons Homeowners Are Selling Their Houses Right Now | MyKCM" width="600" height="450" /></a>
As the visual shows, an appetite for different features or the fact that their current home could no longer meet their needs topped the list for recent sellers. Additionally, remote work and whether or not they need a home office or are tied to a specific physical office location also factored in, as did the desire to live close to their loved ones.
The realtor.com <a href="https://www.realtor.com/research/2022-summer-sellers-survey/" title="survey" target="_blank" rel="noopener noreferrer">survey</a> summarizes the findings like this:
“The primary reason homeowners decided to sell in the last year was the realization that, after so much time spent at home, they wanted different features and amenities, such as walkability, outdoor space, pool, etc. . . . ”
If you, like the homeowners they surveyed, find yourself wanting features, space, or amenities your current home just can’t provide, it may be time to consider listing your house for sale.
Even with today’s mortgage rates, your lifestyle needs may be enough to motivate you to make a change. The best way to find out what’s right for you is to partner with a trusted <a href="https://www.simplifyingthemarket.com/2022/09/09/why-its-so-important-to-hire-a-pro-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="real estate professional" target="_blank" rel="noopener noreferrer">real estate professional</a> who can provide expert guidance and advice throughout the process. They can help walk you through your options, so you can make a confident decision based on what matters most to you and your loved ones.
Bottom Line
While the financial reasons for moving are important, there’s often far more to consider. Non-financial reasons can also be a significant motivating factor. If you need help weighing the pros and cons of selling your house in Philadelphia or the Main Line, let’s connect today.
2022-09-21T04:55:00-07:002022-09-21T07:00:52-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:10212Should I Sell My House This Year?Should I Sell My House This Year?
<img width="750" height="410" src="https://files.mykcm.com/2022/09/07170123/20220908-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Should I Sell My House This Year? | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/09/07170123/20220908-KCM-Share.jpg 750w, https://files.mykcm.com/2022/09/07170123/20220908-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/09/07170123/20220908-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
There’s no denying the housing market is <a href="https://www.simplifyingthemarket.com/2022/08/23/what-sellers-need-to-know-in-todays-housing-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="undergoing a shift" target="_blank" rel="noopener noreferrer">undergoing a shift</a> this season as buyer demand slows and the number of homes for sale grows. But that shift actually gives you some unique benefits when you sell. Here’s a look at the key opportunities you have if you list your house this fall.
Opportunity #1: You Have More Options for Your Move
One of the biggest stories today is the growing supply of homes for sale. <a href="https://www.simplifyingthemarket.com/2022/08/25/why-you-may-want-to-start-your-home-search-today/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="Housing inventory" target="_blank" rel="noopener noreferrer">Housing inventory</a> has been increasing since the start of the year, primarily because higher mortgage rates helped cool off the peak frenzy of buyer demand. But what you may not realize is, that actually could benefit you.
If you’re selling your house to make a move, it means you’ll have <a href="https://www.simplifyingthemarket.com/2022/09/01/new-homes-may-have-the-incentives-youre-looking-for-today/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="more options" target="_blank" rel="noopener noreferrer">more options</a> for your own home search. That gives you an even better chance to find a home that checks all of your boxes. So, if you’ve put off selling because you were worried about being able to find <a href="https://www.simplifyingthemarket.com/2022/07/18/wondering-where-youll-move-if-you-sell-your-house-today/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="somewhere to go" target="_blank" rel="noopener noreferrer">somewhere to go</a>, know your options have improved.
Opportunity #2: The Number of Homes on the Market Is Still Low
Just remember, while data shows the number of homes for sale has increased this year, housing supply is still firmly in sellers’ market territory. To be in a balanced market where there are enough homes available to meet the pace of buyer demand, there would need to be a six months’ supply of homes. According to the <a href="https://www.nar.realtor/newsroom/existing-home-sales-retreated-5-9-in-july" title="latest report" target="_blank" rel="noopener noreferrer">latest report</a> from the National Association of Realtors (NAR), in July, there was only a 3.3 months’ supply.
While you’ll have more options for your own home search, <a href="https://www.simplifyingthemarket.com/2022/08/24/why-todays-housing-inventory-proves-the-market-isnt-headed-for-a-crash/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="inventory" target="_blank" rel="noopener noreferrer">inventory</a> is still low, and that means your home will still be in demand if you <a href="https://www.simplifyingthemarket.com/2022/08/09/selling-your-house-your-asking-price-matters-more-now-than-ever/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="price it right" target="_blank" rel="noopener noreferrer">price it right</a>. That’s why the <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-07-realtors-confidence-index-08-18-2022.pdf" title="most recent data" target="_blank" rel="noopener noreferrer">most recent data</a> from NAR also shows the average home sold in July still saw multiple offers and sold in as little as 14 days.
Opportunity #3: Your Equity Has Grown by Record Amounts
The <a href="https://www.simplifyingthemarket.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home price appreciation" target="_blank" rel="noopener noreferrer">home price appreciation</a> the market saw over the past few years has likely given your <a href="https://www.simplifyingthemarket.com/2022/07/08/why-growing-home-equity-is-great-news-if-you-plan-to-move-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="equity" target="_blank" rel="noopener noreferrer">equity</a> (and your net worth) a considerable boost. Danielle Hale, Chief Economist at realtor.com, <a href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-july-2-2022/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“Home owners trying to decide if now is the time to list their home for sale are still in a good position in many markets across the country as a decade of rising home prices gives them a substantial equity cushion . . .”
If you’ve been holding off on selling because you’re worried about how <a href="https://www.simplifyingthemarket.com/2022/08/30/whats-actually-happening-with-home-prices-today/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="rising prices" target="_blank" rel="noopener noreferrer">rising prices</a> will impact your next home search, rest assured your <a href="https://www.simplifyingthemarket.com/2022/07/06/how-your-equity-can-grow-over-time/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="equity" target="_blank" rel="noopener noreferrer">equity</a> can help. It may be just what you need to cover a large portion (if not all) of the down payment on your next home.
Bottom Line
If you’re thinking about selling your house this season, let’s connect so you have the expert insights you need to make the best possible move today.
2022-09-08T04:49:00-07:002022-09-08T06:54:50-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:10079What’s Actually Happening with Home Prices Today?What’s Actually Happening with Home Prices Today?
<img width="750" height="410" src="https://files.mykcm.com/2022/08/29125429/20220830-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="What’s Actually Happening with Home Prices Today? | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/08/29125429/20220830-KCM-Share.jpg 750w, https://files.mykcm.com/2022/08/29125429/20220830-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/08/29125429/20220830-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.
Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today.
Appreciation is when home prices increase.
Depreciation is when home prices decrease.
Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.
Experts agree that, nationally, what we’re seeing today is deceleration. That means home prices are appreciating, just not at the record-breaking pace they have over the past year. In 2021, <a href="https://www.corelogic.com/intelligence/corelogic-hpi-posted-record-year-over-year-growth-in-2021/" title="data" target="_blank" rel="noopener noreferrer">data</a> from CoreLogic tells us home prices appreciated by an average of 15% nationwide. And earlier this year, that appreciation was upward of 20%. This year, <a href="https://www.simplifyingthemarket.com/2022/08/11/what-does-the-rest-of-the-year-hold-for-home-prices/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="experts forecast" target="_blank" rel="noopener noreferrer">experts forecast</a> home prices will appreciate at a decelerated pace of around 10 to 11%, on average.
The graph below uses the <a href="https://www.corelogic.com/intelligence/u-s-home-price-insights/" title="latest data" target="_blank" rel="noopener noreferrer">latest data</a> from CoreLogic to help tell the story of how home prices are decelerating, but not depreciating so far this year.
<a href="https://files.mykcm.com/2022/08/29125430/20220830-MEM-Eng.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-104401" src="https://files.mykcm.com/2022/08/29125430/20220830-MEM-Eng.png" alt="What’s Actually Happening with Home Prices Today? | MyKCM" width="600" height="450" /></a>
As the green bars show, home prices appreciated between 19-20% year-over-year from January to March. But over the last few months, the pace of that appreciation has decelerated to 18%. This means price growth is still climbing compared to last year but at a slower rate.
As the Monthly Mortgage Monitor from Black Knight <a href="https://www.blackknightinc.com/black-knights-june-2022-mortgage-monitor/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“Annual home price growth dropped by nearly two percentage points . . . – the greatest single-month slowdown on record since at least the early 1970s. . . While June’s slowdown was record-breaking, home price growth would need to decelerate at this pace for six more months to drive annual appreciation back to 5%, a rate more in line with long-run averages.”
Basically, this means, while moderating, home prices are still far above the norm, and we’d have to see a lot more deceleration to even fall in line with more typical rates of home price growth. That’s still not home price depreciation.
The big takeaway is home prices haven’t fallen or depreciated nationwide, they’re just decelerating or moderating. While some unique and overheated markets may see declines, nationally, home prices are forecast to appreciate. And when we look at the country as a whole, none of the experts <a href="https://www.simplifyingthemarket.com/2022/08/05/housing-market-forecast-for-the-rest-of-2022-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="project" target="_blank" rel="noopener noreferrer">project</a> home prices will net depreciate or fall. They’re all projecting ongoing appreciation.
Bottom Line
If you have questions about what’s happening with home prices in our Philadelphia and The Main Line, let’s connect.
2022-08-30T05:36:00-07:002022-08-30T05:42:12-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:10072SOLD in Passyunk Square #SOLD in Passyunk Square!
<img src="https://assets.site-static.com/userfiles/2363/image/wharton.png" width="1080" height="1920" style="display: block; margin-left: auto; margin-right: auto;" />
Clients who become good friends are the best clients! We are so happy for Matt and Laura to enjoy this wonderful home just steps away from Passyunk Square.
3 Bedrooms
3 Bathrooms
2,137 Square Feet
Bonus Finished Basement
Spectacular Roof Deck with Skyline Views
Luxury Main Suite with Very Large Walk-In Closet
Who you work with matters! Call us today if you are interested in purchasing real estate in Philadelphia and the Suburbs or if you’d like to learn more about The Rosenthal Group’s proprietary and powerful marketing system. We would love to make you our next happy customer! 267.626.7613
#Townhome<br />#PassyunkSquare<br />#PassyunkSquareRealEstate<br />#Philadelphia<br />#PhiladelphiaRealEstate<br />#Realtor<br />#realtors<br />#realestate<br />#homesforsale<br />#therosenthalgroup<br />#BHHS <br />#Foreverbrand<br />#Everythingyouneed<br />#Consumerstrong<br />#BHHSProud<br />#BHHSPlacetobe2022-08-29T10:44:00-07:002022-08-29T10:47:38-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:10059Why You May Want To Start Your Home Search TodayWhy You May Want To Start Your Home Search Today
<img width="750" height="410" src="https://files.mykcm.com/2022/08/24123207/20220825-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Why You May Want To Start Your Home Search Today | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/08/24123207/20220825-KCM-Share.jpg 750w, https://files.mykcm.com/2022/08/24123207/20220825-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/08/24123207/20220825-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re thinking about <a href="https://www.simplifyingthemarket.com/2022/08/10/is-the-shifting-market-a-challenge-or-an-opportunity-for-homebuyers/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="buying a home" target="_blank" rel="noopener noreferrer">buying a home</a>, you likely have a lot of factors on your mind. You’re weighing your own needs against higher <a href="https://www.simplifyingthemarket.com/2022/08/05/housing-market-forecast-for-the-rest-of-2022-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a>, today’s home prices, and more to try to decide if you want to jump into the market. While some buyers may wait things out, there’s a reason serious buyers are making moves right now, and that’s the growing number of homes for sale.
So far this year, <a href="https://www.simplifyingthemarket.com/2022/07/26/a-window-of-opportunity-for-homebuyers/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="housing inventory" target="_blank" rel="noopener noreferrer">housing inventory</a> has been increasing and that’s making the prospect of finding your dream home less difficult. While there are always reasons you could delay making a big decision, there are also always reasons to consider moving forward. And having a <a href="https://www.simplifyingthemarket.com/2022/07/22/great-news-about-housing-inventory-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="growing number of options" target="_blank" rel="noopener noreferrer">growing number of options</a> for your home search may be exactly what you needed to feel more confident in making a move.
What’s Causing Housing Inventory To Grow?
As new data comes out, we're getting an updated picture of why housing supply is increasing so much this year. As Bill McBride, Author of Calculated Risk, <a href="https://calculatedrisk.substack.com/p/1st-look-at-local-housing-markets-fb2" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“We are seeing a significant change in inventory, but no pickup in new listings. Most of the increase in inventory so far has been due to softer demand - likely because of higher mortgage rates.”
Basically, the inventory growth is primarily from homes staying on the market a bit longer (known as active listings). And that’s happening because higher mortgage rates and <a href="https://www.simplifyingthemarket.com/2022/08/11/what-does-the-rest-of-the-year-hold-for-home-prices/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a>have helped moderate the peak frenzy of buyer demand.
The graph below uses <a href="https://www.realtor.com/research/data/" title="data" target="_blank" rel="noopener noreferrer">data</a> from realtor.com to show how much active listings have risen over the past five months as a result (shown in green):
<a href="https://files.mykcm.com/2022/08/24123205/20220825-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-104287" src="https://files.mykcm.com/2022/08/24123205/20220825-MEM-Eng-1.png" alt="Why You May Want To Start Your Home Search Today | MyKCM" width="600" height="450" /></a>
Why This Growth Is Good News for You
Regardless of the source, the increase in available housing supply is good for buyers. More housing supply actively for sale means you have more options as your search for your next home. A <a href="https://www.realtor.com/research/july-2022-data/" title="recent article" target="_blank" rel="noopener noreferrer">recent article</a> from realtor.com explains just how significant the inventory growth has been and why it’s good news for your plans to buy:
“Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over the past year, the largest increase in inventory in the data history and higher than last month’s growth rate of 18.7% which was itself record-breaking. This amounted to 176,000 more homes actively for sale on a typical day in July compared to the previous year and more choice for buyers who are still looking for a new home.”
The growth this year is certainly good news for you, especially if you’ve had trouble finding a home that meets your needs. If you start your search today, those additional options should make it less difficult to find a home than it would have been over the past two years.
Bottom Line
If you’re ready to jump into the market and take advantage of the increasing supply of homes for sale in Philadelphia and The Main Line, let’s connect today. The opportunity is knocking, will you answer?
2022-08-25T05:24:00-07:002022-08-29T06:32:02-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9951Why a Home Inspection Is Important [INFOGRAPHIC]Why a Home Inspection Is Important [INFOGRAPHIC]
<img width="1046" height="1957" src="https://files.mykcm.com/2022/08/18110253/20220819-MEM-1046x1957.png" class="attachment-entry size-entry wp-post-image" alt="Why a Home Inspection Is Important [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/08/18110253/20220819-MEM-1046x1957.png 1046w, https://files.mykcm.com/2022/08/18110253/20220819-MEM-321x600.png 321w, https://files.mykcm.com/2022/08/18110253/20220819-MEM-547x1024.png 547w, https://files.mykcm.com/2022/08/18110253/20220819-MEM-768x1437.png 768w, https://files.mykcm.com/2022/08/18110253/20220819-MEM-821x1536.png 821w, https://files.mykcm.com/2022/08/18110253/20220819-MEM-1095x2048.png 1095w, https://files.mykcm.com/2022/08/18110253/20220819-MEM-100x187.png 100w, https://files.mykcm.com/2022/08/18110253/20220819-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" /><br /><br />
Some Highlights
If you’re buying a home, here’s what you should know about your <a href="https://www.homeinspector.org/Buyers-And-Owners/Homebuyers-Guide/FAQs-about-Home-Inspection" title="home inspection" target="_blank" rel="noopener noreferrer">home inspection</a> and why it’s so important.
A <a href="https://www.nar.realtor/home-inspections" title="home inspection" target="_blank" rel="noopener noreferrer">home inspection</a> is a crucial step in the homebuying process. It assesses the <a href="https://www.realtor.com/advice/buy/how-much-does-a-home-inspection-cost/" title="condition" target="_blank" rel="noopener noreferrer">condition</a> of the home you plan to purchase so you can avoid <a href="https://magazine.realtor/daily-news/2022/07/28/real-estate-forecast-market-to-ease-despite-high-home-prices" title="costly surprises" target="_blank" rel="noopener noreferrer">costly surprises</a> down the road.
Let’s connect so you have an <a href="https://www.simplifyingthemarket.com/2022/07/28/a-real-estate-professional-helps-you-separate-fact-from-fiction/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="expert" target="_blank" rel="noopener noreferrer">expert</a> on your side to guide you through the process.
2022-08-19T05:07:00-07:002022-08-19T07:15:25-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9925Experts Increase 2022 Home Price ProjectionsExperts Increase 2022 Home Price Projections
<img width="750" height="410" src="https://files.mykcm.com/2022/08/16093014/20220817-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Experts Increase 2022 Home Price Projections | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/08/16093014/20220817-KCM-Share.jpg 750w, https://files.mykcm.com/2022/08/16093014/20220817-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/08/16093014/20220817-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re wondering if <a href="https://www.simplifyingthemarket.com/2022/07/21/think-home-prices-are-going-to-fall-think-again/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a> are going to come down due to the cooldown in the <a href="https://www.simplifyingthemarket.com/2022/06/14/is-the-housing-market-correcting/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="housing market" target="_blank" rel="noopener noreferrer">housing market</a> or a <a href="https://www.simplifyingthemarket.com/2022/08/16/what-would-a-recession-mean-for-the-housing-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="potential recession" target="_blank" rel="noopener noreferrer">potential recession</a>, here’s what you need to know. Not only are experts forecasting home prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for home price appreciation from their original 2022 forecasts (shown in green in the chart below):
<a href="https://files.mykcm.com/2022/08/16162453/20220817-MEM-Eng-.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-104054" src="https://files.mykcm.com/2022/08/16162453/20220817-MEM-Eng-.png" alt="Experts Increase 2022 Home Price Projections | MyKCM" width="600" height="450" /></a>As the chart shows, most sources adjusted up, and now call for more appreciation in 2022 than they originally projected this January. But why are experts so confident the housing market will see ongoing appreciation? It’s because of <a href="https://www.simplifyingthemarket.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="supply and demand" target="_blank" rel="noopener noreferrer">supply and demand</a> in most markets. As Bankrate <a href="https://www.bankrate.com/real-estate/june-2022-fed-housing-comments/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“After all, supplies of homes for sale remain near record lows. And while a jump in mortgage rates has dampened demand somewhat, demand still outpaces supply, thanks to a combination of little new construction and strong household formation by large numbers of millennials.”
Knowing that experts forecast home prices will continue to appreciate in most markets and that they’ve actually increased their original projections for this year should help you answer the question: will home prices fall? According to the latest forecasts, experts are confident prices will <a href="https://www.simplifyingthemarket.com/2022/08/11/what-does-the-rest-of-the-year-hold-for-home-prices/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="continue to appreciate" target="_blank" rel="noopener noreferrer">continue to appreciate</a> this year, although at a more moderate rate than they did in 2021.
Bottom Line
If you’re worried home prices are going to decline, rest assured many experts raised their forecasts to say they’ll continue to appreciate in most markets this year. If you have questions about what’s happening with home prices in our local area, let's connect.
2022-08-17T05:24:00-07:002022-08-17T06:40:39-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9748A Real Estate Professional Helps You Separate Fact from FictionA Real Estate Professional Helps You Separate Fact from Fiction
<img width="750" height="410" src="https://files.mykcm.com/2022/07/27092756/20220728-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="A Real Estate Professional Helps You Separate Fact from Fiction | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/07/27092756/20220728-KCM-Share.jpg 750w, https://files.mykcm.com/2022/07/27092756/20220728-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/07/27092756/20220728-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re following the news, chances are you’ve seen or heard some headlines about the housing market that don’t give the full picture. The real estate market is shifting, and when that happens, it can be hard to separate fact from fiction. That’s where a trusted real estate professional comes in. They can help debunk the headlines so you can really understand today’s market and what it means for you.
Here are three common housing market myths you might be hearing, along with the expert analysis that provides better context.
Myth 1: Home Prices Are Going To Fall
One piece of fiction many buyers may have seen or heard is that <a href="https://www.simplifyingthemarket.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a> are going to crash. That’s because headlines often use similar, but different, <a href="https://www.simplifyingthemarket.com/2022/06/16/home-price-deceleration-doesnt-mean-home-price-depreciation/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="terms" target="_blank" rel="noopener noreferrer">terms</a> to describe what’s happening with prices. A few you might be seeing right now include:
Appreciation, or an increase in home prices.
Depreciation, or a decrease in home prices.
And deceleration, which is an increase in home prices, but at a slower pace.
The fact is, <a href="https://www.simplifyingthemarket.com/2022/07/12/expert-housing-market-forecasts-for-the-second-half-of-the-year/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="experts" target="_blank" rel="noopener noreferrer">experts</a> aren’t calling for a decrease in prices. Instead, they forecast <a href="https://www.simplifyingthemarket.com/2022/07/21/think-home-prices-are-going-to-fall-think-again/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="appreciation will continue" target="_blank" rel="noopener noreferrer">appreciation will continue</a>, just at a decelerated pace. That means home prices will continue rising and won’t fall. Selma Hepp, Deputy Chief Economist at CoreLogic, <a href="https://www.bankrate.com/real-estate/housing-market-predictions/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“. . . higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.”
Myth 2: The Housing Market Is in a Correction
Another common myth is that the housing market is in a correction. Again, that’s not the case. Here’s why. According to <a href="https://www.forbes.com/advisor/investing/what-is-market-correction/" title="Forbes" target="_blank" rel="noopener noreferrer">Forbes</a>:
“A correction is a sustained decline in the value of a market index or the price of an individual asset. A correction is generally agreed to be a 10% to 20% drop in value from a recent peak.”
As mentioned above, home prices are still appreciating, and experts project that will continue, just at a slower pace. That means the housing market <a href="https://www.simplifyingthemarket.com/2022/06/14/is-the-housing-market-correcting/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="isn’t in a correction" target="_blank" rel="noopener noreferrer">isn’t in a correction</a>because prices aren’t falling. It’s just moderating compared to the last two years, which were record-breaking in nearly every way.
Myth 3: The Housing Market Is Going To Crash
Some headlines are generating worry that the housing market is a bubble ready to burst. But experts say today is <a href="https://www.simplifyingthemarket.com/2022/07/14/housing-experts-say-this-isnt-a-bubble/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="nothing like 2008" target="_blank" rel="noopener noreferrer">nothing like 2008</a>. One of the reasons why is because lending standards are very different today. Logan Mohtashami, Lead Analyst for HousingWire, <a href="https://www.housingwire.com/articles/will-mortgage-lending-get-tighter-in-the-next-recession/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. This typically happens in a recession, however, the notion that credit lending in America will collapse as it did from 2005 to 2008 couldn’t be more incorrect, as we haven’t had a credit boom in the period between 2008-2022.”
During the last <a href="https://www.simplifyingthemarket.com/2022/06/27/two-reasons-why-todays-housing-market-isnt-a-bubble/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="housing bubble" target="_blank" rel="noopener noreferrer">housing bubble</a>, it was much easier to get a mortgage than it is today. Since then, <a href="https://www.simplifyingthemarket.com/2022/06/01/why-home-loans-today-arent-what-they-were-in-the-past/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="lending standards" target="_blank" rel="noopener noreferrer">lending standards</a> have tightened significantly, and purchasers who acquired a mortgage over the last decade are much more qualified than they were in the years leading up to the crash.
Bottom Line
No matter what you’re hearing about the housing market, let’s connect. That way, you’ll have a knowledgeable authority on your side that knows the ins and outs of the market, including current trends, historical context, and so much more.
2022-07-28T05:16:00-07:002022-07-28T06:24:05-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9677New Listing In Art Museum Area!#NEWLISTING in Art Museum Area<img src="https://assets.site-static.com/userfiles/2363/image/22.png" width="1080" height="1920" />
Welcome to 892 N Taylor Street, a move-in ready 2 bed/1 bath townhome on a gorgeous, tree lined street in the heart of Fairmount.
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Who you work with matters! Call us today if you are interested in purchasing real estate in Philadelphia and the Suburbs or if you’d like to learn more about The Rosenthal Group’s proprietary and powerful marketing system. We would love to make you our next happy customer! 267.626.7613
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<a href="https://www.instagram.com/explore/tags/bhhsplacetobe/">#BHHSPlacetobe</a>2022-07-20T05:50:00-07:002022-07-20T07:02:49-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9676Should You Buy a Home with Inflation This High?Should You Buy a Home with Inflation This High?
<img width="750" height="410" src="https://files.mykcm.com/2022/07/19122944/20220720-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Should You Buy a Home with Inflation This High? | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/07/19122944/20220720-KCM-Share.jpg 750w, https://files.mykcm.com/2022/07/19122944/20220720-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/07/19122944/20220720-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
While the Federal Reserve is working hard to bring down inflation, the <a href="https://www.nytimes.com/live/2022/07/12/business/cpi-report-inflation" title="latest data" target="_blank" rel="noopener noreferrer">latest data</a> shows the inflation rate is still going up. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now?
Greg McBride, Chief Financial Analyst at Bankrate, <a href="https://www.bankrate.com/mortgages/inflation-housing-market/" title="explains" target="_blank" rel="noopener noreferrer">explains</a> how inflation is affecting the housing market:
“Inflation will have a strong influence on where mortgage rates go in the months ahead. . . . Whenever inflation finally starts to ease, so will mortgage rates — but even then, home prices are still subject to demand and very tight supply.”
No one knows how long it’ll take to bring down <a href="https://www.simplifyingthemarket.com/2022/05/20/dont-let-rising-inflation-delay-your-homeownership-plans-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="inflation" target="_blank" rel="noopener noreferrer">inflation</a>, and that means the future trajectory of mortgage rates is also unclear. While that uncertainty isn’t comfortable, here’s why both inflation and mortgage rates are important for you and your homeownership plans.
When you buy a home, the mortgage rate and the price of the home matter. Higher mortgage rates impact how much you’ll pay for your monthly mortgage payment – and that directly affects how much you can comfortably afford. And while there’s no denying it’s more expensive to buy and finance a home this year than it was last year, it doesn’t mean you should pause your search. Here’s why.
Homeownership Is Historically a Great Hedge Against Inflation
In an inflationary economy, prices rise across the board. Historically, homeownership is a <a href="https://www.simplifyingthemarket.com/2022/06/23/homeownership-is-a-great-hedge-against-the-impact-of-rising-inflation/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="great hedge" target="_blank" rel="noopener noreferrer">great hedge</a> against those rising costs because you can lock in what’s likely your largest monthly payment (your mortgage) for the duration of your loan. That helps stabilize some of your monthly expenses. Not to mention, as <a href="https://www.simplifyingthemarket.com/2022/06/16/home-price-deceleration-doesnt-mean-home-price-depreciation/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a> continue to appreciate, your home’s value will too. That’s why Mark Cussen, Financial Writer at Investopedia, <a href="https://www.investopedia.com/articles/investing/060916/top-5-ways-hedge-against-inflation.asp" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“Real estate is one of the time-honored inflation hedges. It's a tangible asset, and those tend to hold their value when inflation reigns, unlike paper assets. More specifically, as prices rise, so do property values.”
Also, no one is calling for homes to lose value. As Selma Hepp, Deputy Chief Economist at CoreLogic, <a href="https://www.bankrate.com/real-estate/housing-market-predictions/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“The current home price growth rate is unsustainable, and higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.”
In a nutshell, your home search doesn’t have to go on hold because of rising inflation or higher mortgage rates. There’s more to consider when it comes to why you want to buy a home. In addition to shielding yourself from the impact of inflation and growing <a href="https://www.simplifyingthemarket.com/2022/07/06/how-your-equity-can-grow-over-time/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="your wealth" target="_blank" rel="noopener noreferrer">your wealth</a> through ongoing price appreciation, there are other reasons to buy a home right now like addressing your changing needs and so much more.
Bottom Line
Homeownership is one of the best decisions you can make in an inflationary economy. You get the benefit of the added security of owning your home in a time when experts are forecasting prices to continue to rise.
2022-07-20T05:44:00-07:002022-07-20T06:49:33-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9499If You’re Selling Your House This Summer, Hiring a Pro Is CriticalIf You’re Selling Your House This Summer, Hiring a Pro Is Critical
<img width="750" height="410" src="https://files.mykcm.com/2022/06/29161743/20220630-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="If You’re Selling Your House This Summer, Hiring a Pro Is Critical | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/06/29161743/20220630-KCM-Share.jpg 750w, https://files.mykcm.com/2022/06/29161743/20220630-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/06/29161743/20220630-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
It can be tempting, especially with how hot the housing market has been over the past two years, to consider <a href="https://www.simplifyingthemarket.com/2022/06/15/a-majority-of-consumers-say-its-a-good-time-to-sell-your-house/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="selling your home" target="_blank" rel="noopener noreferrer">selling your home</a> on your own. But today’s market is at a <a href="https://www.simplifyingthemarket.com/2022/06/14/is-the-housing-market-correcting/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="turning point" target="_blank" rel="noopener noreferrer">turning point</a>, making it more essential than ever to work with a real estate professional.
Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current <a href="https://www.simplifyingthemarket.com/2022/05/31/what-does-the-rest-of-the-year-hold-for-the-housing-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="market trends" target="_blank" rel="noopener noreferrer">market trends</a>, but they’re also experts in managing the many aspects of selling your house.
Here are five key reasons why working with a real estate professional makes sense today.
1. A Professional Follows the Latest Market Trends
With higher <a href="https://www.simplifyingthemarket.com/2022/05/17/why-rising-mortgage-rates-push-buyers-off-the-fence/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a>, rising <a href="https://www.simplifyingthemarket.com/2022/06/16/home-price-deceleration-doesnt-mean-home-price-depreciation/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a>, and a growing number of <a href="https://www.simplifyingthemarket.com/2022/06/07/why-the-growing-number-of-homes-for-sale-is-good-for-your-move-up/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="homes for sale" target="_blank" rel="noopener noreferrer">homes for sale</a>, today’s housing market is showing signs of a shift back toward more pre-pandemic levels. When conditions change, following the trends and staying on top of new information is crucial when you sell.
That makes working with an expert real estate advisor critical today. They know your local area and follow national trends too. More importantly, they’ll know what this data means for you, and as the market shifts, they’ll be able to help you navigate it and make your <a href="https://www.simplifyingthemarket.com/2022/05/23/work-with-a-real-estate-professional-if-you-want-the-best-advice/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="best decision" target="_blank" rel="noopener noreferrer">best decision</a>.
2. A Professional Helps Maximize Your Pool of Buyers
Your agent’s role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers. Investopedia <a href="https://www.investopedia.com/articles/personal-finance/071514/8-reasons-not-sell-your-home-without-agent.asp#toc-4-agents-access-large-networks" title="explains" target="_blank" rel="noopener noreferrer">explains</a> why it’s risky to sell on your own without the network an agent provides:
“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home. A smaller pool of potential buyers means less demand for your property, which can translate into waiting longer to sell your home and possibly not getting as much money as your house is worth.”
3. A Professional Understands the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) explains it best, <a href="https://magazine.realtor/sales-and-marketing/handouts-for-customers/for-sellers/8-reasons-to-work-with-a-realtor" title="saying" target="_blank" rel="noopener noreferrer">saying</a>:
“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”
A real estate professional knows exactly what needs to happen, what all the paperwork means, and how to work through it efficiently. They’ll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.
4. A Professional Is a Trained Negotiator
If you sell without a professional, you’ll also be solely responsible for all the negotiations. That means you’ll have to coordinate with:
The buyer, who wants the best deal possible
The buyer’s agent, who will use their expertise to advocate for the buyer
The inspection company, which works for the buyer and will almost always find concerns with the house
The appraiser, who assesses the property’s value to protect the lender
Instead of going toe-to-toe with all these parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.
5. A Professional Knows How To Set the Right Price for Your House
If you sell your house on your own, you may over or undershoot your asking price. That could mean you’ll leave money on the table because you priced it too low or your house will sit on the market because you priced it too high. <a href="https://www.simplifyingthemarket.com/2022/06/06/why-you-need-an-expert-to-determine-the-right-price-for-your-house/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="Pricing a house" target="_blank" rel="noopener noreferrer">Pricing a house</a> requires expertise. NAR <a href="https://magazine.realtor/sales-and-marketing/handouts-for-customers/for-sellers/8-reasons-to-work-with-a-realtor" title="explains" target="_blank" rel="noopener noreferrer">explains</a> it like this:
“A great real estate agent will look at your home with an unbiased eye, providing you with the information you need to enhance marketability and maximize price.”
Real estate professionals know the ins and outs of how to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your home. These steps are key to making sure it’s set to move quickly while still getting you the highest possible final <a href="https://www.simplifyingthemarket.com/2022/06/24/why-an-agent-is-essential-when-pricing-your-house-infographic?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="sale price" target="_blank" rel="noopener noreferrer">sale price</a>.
Bottom Line
Whether it’s following local and national trends and guiding you through a shifting market or pricing your house right, a real estate agent has essential insights you'll want to rely on throughout the transaction. Don’t go at it alone. If you plan to sell in The Main Line or Philadelphia, let’s connect so you have an expert on your side.
2022-06-30T05:25:00-07:002022-06-30T05:32:52-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9491Homeownership Could Be in Reach with Down Payment Assistance ProgramsHomeownership Could Be in Reach with Down Payment Assistance Programs
<img width="750" height="410" src="https://files.mykcm.com/2022/06/28151818/20220628-KCM-Share-1.jpg" class="attachment-entry size-entry wp-post-image" alt="Homeownership Could Be in Reach with Down Payment Assistance Programs | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/06/28151818/20220628-KCM-Share-1.jpg 750w, https://files.mykcm.com/2022/06/28151818/20220628-KCM-Share-1-600x328.jpg 600w, https://files.mykcm.com/2022/06/28151818/20220628-KCM-Share-1-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
A recent <a href="https://www.bankrate.com/mortgages/homeownership-remains-centerpiece-of-american-dream/" title="survey" target="_blank" rel="noopener noreferrer">survey</a> from Bankrate asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home.
If you feel the same way, the good news is there are many down payment assistance programs available that can help you achieve your <a href="https://www.simplifyingthemarket.com/2022/06/10/the-top-reasons-to-own-your-home-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="homeownership goals" target="_blank" rel="noopener noreferrer">homeownership goals</a>. The key is understanding where to look and learning what options are available. Here’s some information that can help you.
You Can Qualify Even if You’ve Purchased a Home Before
There are several misconceptions about down payment assistance programs. For starters, many people believe there’s only assistance available for <a href="https://www.simplifyingthemarket.com/2022/06/08/what-are-the-best-options-for-todays-first-time-homebuyers/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="first-time homebuyers" target="_blank" rel="noopener noreferrer">first-time homebuyers</a>. While first-time buyers have many options to explore, repeat buyers have some, too. According to the latest <a href="https://downpaymentresource.com/professional-resource/more-homebuyer-assistance-programs-introduced-as-affordability-declines-in-most-u-s-counties/" title="Homeownership Program Index" target="_blank" rel="noopener noreferrer">Homeownership Program Index</a> from downpaymentresource.com:
“It is a common misconception that homebuyer assistance is only available to first-time homebuyers, however, 38% of homebuyer assistance programs in Q1 2022 did not have a first-time homebuyer requirement.”
That means repeat buyers could qualify for over one-third of the assistance programs available. And if you’re a repeat buyer, you may still be able to take advantage of some first-time homebuyer programs, depending on your personal situation. That’s because downpaymentresource.com also <a href="https://downpaymentresource.com/homebuyer-resource/4-common-down-payment-assistance-program-myths-debunked/" title="notes" target="_blank" rel="noopener noreferrer">notes</a> many of the first-time homebuyer programs use the U.S. Department of Housing and Urban Development's definition of a first-time homebuyer. Under their <a href="https://archives.hud.gov/offices/hsg/sfh/ref/sfhp3-02.cfm" title="definition" target="_blank" rel="noopener noreferrer">definition</a>, you could qualify as a first-time buyer if you’re:
Someone who hasn’t owned a primary residence in 3 years.
A single parent who’s only ever owned a home with a former spouse.
That means no matter where you are in your <a href="https://www.simplifyingthemarket.com/2022/06/02/how-homeownership-impacts-you/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="homeownership" target="_blank" rel="noopener noreferrer">homeownership</a> journey, there could be an option available for you.
You May Be Eligible for Programs Based on Your Location or Profession
In addition to broader options available for repeat and first-time homebuyers, there are other types of down payment assistance programs that you could qualify for based on your location. <a href="https://www.nar.realtor/first-time-homebuyers/first-time-homebuyer-loans-grants" title="According" target="_blank" rel="noopener noreferrer">According</a> to the National Association of Realtors (NAR):
“Many local governments and non-profit organizations offer down-payment assistance grants and loans, targeted to area borrowers and often with specific borrower requirements.”
Plus, there are programs and special benefits for individuals working in certain professions or with unique statuses, including teachers, doctors and nurses, and veterans.
Ultimately, that means there are many federal, state, and local programs available for you to explore. The best way to do that is to connect with a local real estate professional and your lender to learn more about what’s available in your area.
Bottom Line
Down payment assistance programs have helped many homebuyers achieve their dreams, and if you qualify, they could help you too. Let’s connect today so you can begin exploring your options.
2022-06-29T04:52:00-07:002022-06-29T05:54:44-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9477A Key Opportunity for HomebuyersA Key Opportunity for Homebuyers
<img width="750" height="410" src="https://files.mykcm.com/2022/06/27143644/20220628-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="A Key Opportunity for Homebuyers | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/06/27143644/20220628-KCM-Share.jpg 750w, https://files.mykcm.com/2022/06/27143644/20220628-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/06/27143644/20220628-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point.
As you may have already heard, the <a href="https://www.simplifyingthemarket.com/2022/06/17/more-listings-are-coming-onto-the-market-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="number of homes" target="_blank" rel="noopener noreferrer">number of homes</a> for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist for realtor.com, <a href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-june-18-2022/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“New listings–a measure of sellers putting homes up for sale–were up 6% above one year ago. Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That’s prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options.”
This is encouraging news. <a href="https://www.simplifyingthemarket.com/2022/05/11/are-there-more-homes-coming-to-the-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="More homes" target="_blank" rel="noopener noreferrer">More homes</a> coming onto the market give you a greater chance of finding one that checks all your boxes.
Buyer Competition Moderating Helps Inventory Grow Even More
Mark Fleming, Chief Economist at First American, <a href="https://blog.firstam.com/economics/the-reconomy-podcast-heres-how-we-know-that-housing-supply-is-still-low" title="says" target="_blank" rel="noopener noreferrer">says</a> inventory growth is happening not just because there’s an increase in the number of listings coming onto the market, but also because buyer demand has moderated some in light of higher mortgage rates and other economic factors:
“There has been a pickup in the inventory that we've seen recently, but it's not from a big increase in new listings . . . but rather a slowdown in the pace of sales.And remember that months’ supply measures the inventory of sale relative to the pace of sales. Same inventory, fewer sales, means more months’ supply.”
Basically, the market is shifting away from the frenzy of buyer competition seen during the pandemic, and that’s helping available inventory grow. In their <a href="https://news.move.com/2022-06-13-Realtor-com-R-2022-Forecast-Update-Real-Estate-Gets-a-Refresh-from-the-Frenzy" title="latest forecast" target="_blank" rel="noopener noreferrer">latest forecast</a>, realtor.com also mentions the moderation of demand as a key factor and projects the inventory growth should continue:
“As rising inflation and mortgage rates bring U.S. housing demand back from the 2021 frenzy, . . . inventory will grow double-digits over 2021 and offer buyers a better-than-expected chance to find a home.”
How This Impacts You
The combination of more homes coming onto the market and a slower pace of home sales means you’ll have more options to choose from as you search for your next home. That’s great news if you’ve been searching for a while with little to no luck. Just remember, there isn’t a sudden surplus of inventory, just more homes to choose from than even a few months ago. So, you’ll still want to be decisive and move fast when you find the right home for you.
And when you do, you may be faced with less competition from other buyers too. If you’ve been waiting to jump into the market because the intensity of the bidding wars was intimidating or if you’ve been outbid on several homes, this moderation could help make the homebuying process a bit smoother. It’s not that it’ll be easy or that bidding wars are a thing of the past – that’s not the case. But it won’t feel nearly as impossible.
Bottom Line
As the housing market begins its shift back toward pre-pandemic levels, you could have a unique opportunity in front of you. With moderating levels of buyer competition and more homes actively for sale, your home search may have gotten a bit less challenging. Let’s connect to begin the process today in Philadelphia or the Main Line.
2022-06-28T05:10:00-07:002022-06-28T06:15:15-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9409More Listings Are Coming onto the Market [INFOGRAPHIC]More Listings Are Coming onto the Market [INFOGRAPHIC]
<img width="1046" height="2089" src="https://files.mykcm.com/2022/06/16132154/20220617-MEM-1046x2089.png" class="attachment-entry size-entry wp-post-image" alt="More Listings Are Coming onto the Market [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/06/16132154/20220617-MEM-1046x2089.png 1046w, https://files.mykcm.com/2022/06/16132154/20220617-MEM-300x600.png 300w, https://files.mykcm.com/2022/06/16132154/20220617-MEM-513x1024.png 513w, https://files.mykcm.com/2022/06/16132154/20220617-MEM-768x1534.png 768w, https://files.mykcm.com/2022/06/16132154/20220617-MEM-769x1536.png 769w, https://files.mykcm.com/2022/06/16132154/20220617-MEM-1026x2048.png 1026w, https://files.mykcm.com/2022/06/16132154/20220617-MEM-100x200.png 100w, https://files.mykcm.com/2022/06/16132154/20220617-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" /><br /><br />
Some Highlights
Worried you won’t be able to find your next home after you <a href="https://www.simplifyingthemarket.com/2022/06/15/a-majority-of-consumers-say-its-a-good-time-to-sell-your-house/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="sell" target="_blank" rel="noopener noreferrer">sell</a>? You should know <a href="https://www.realtor.com/research/may-2022-data/" title="data" target="_blank" rel="noopener noreferrer">data</a> from realtor.com shows more listings are coming onto the market <a href="https://www.realtor.com/research/data/" title="each month" target="_blank" rel="noopener noreferrer">each month</a> this year.
Having <a href="https://www.simplifyingthemarket.com/2022/06/07/why-the-growing-number-of-homes-for-sale-is-good-for-your-move-up/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="additional options" target="_blank" rel="noopener noreferrer">additional options</a> can make the search for your <a href="https://www.simplifyingthemarket.com/2022/05/27/bright-days-are-ahead-when-you-move-up-this-summer-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="next home" target="_blank" rel="noopener noreferrer">next home</a> easier. But inventory is still low overall, which means your house should still stand out when you sell.
If your biggest question is where you’ll go if you sell, take this as encouraging news. Let’s connect to start the process today.
2022-06-17T05:33:00-07:002022-06-20T09:35:47-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9342More Americans Choose Real Estate as the Best Investment Than Ever BeforeMore Americans Choose Real Estate as the Best Investment Than Ever Before
<img width="750" height="410" src="https://files.mykcm.com/2022/06/10135410/20220613-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="More Americans Choose Real Estate as the Best Investment Than Ever Before | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/06/10135410/20220613-KCM-Share.jpg 750w, https://files.mykcm.com/2022/06/10135410/20220613-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/06/10135410/20220613-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
Americans’ opinion on the value of real estate as an investment is climbing. That’s according to an annual <a href="https://news.gallup.com/poll/392330/record-low-say-good-time-buy-house.aspx" title="survey" target="_blank" rel="noopener noreferrer">survey</a> from Gallup. Not only is real estate viewed as the best investment for the ninth year in a row, but more Americans selected it than ever before.
The graph below shows the results of the survey since Gallup began asking the question in 2011. As the trend lines indicate, real estate has been gaining ground as the clear favorite for almost a decade now:
<a href="https://files.mykcm.com/2022/06/10135406/20220613-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-102872" src="https://files.mykcm.com/2022/06/10135406/20220613-MEM-Eng-1.png" alt="More Americans Choose Real Estate as the Best Investment Than Ever Before | MyKCM" width="600" height="450" /></a>
If you’re thinking about purchasing a home, let this poll reassure you. Even when <a href="https://www.simplifyingthemarket.com/2022/05/20/dont-let-rising-inflation-delay-your-homeownership-plans-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="inflation" target="_blank" rel="noopener noreferrer">inflation</a> is high like today, Americans recognize owning a home is a powerful <a href="https://www.simplifyingthemarket.com/2022/03/22/the-many-benefits-of-homeownership/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="financial decision" target="_blank" rel="noopener noreferrer">financial decision</a>.
How an Investment in Real Estate Can Benefit You During High Inflation
Because <a href="https://eyeonhousing.org/2022/06/inflation-hits-a-fresh-40-year-high-in-may/" title="inflation" target="_blank" rel="noopener noreferrer">inflation</a> reached its highest level in <a href="https://www.bankrate.com/investing/inflation-hedges-to-protect-against-rising-prices/" title="40 years" target="_blank" rel="noopener noreferrer">40 years</a> recently, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board, and that includes goods, services, housing costs, and more. When you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increases on one of your biggest budgetary items each month.
If you’re a renter, you don’t have that same benefit, and you aren’t protected from these increases, especially as <a href="https://www.simplifyingthemarket.com/2022/02/25/the-difference-between-renting-and-owning-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="rents rise" target="_blank" rel="noopener noreferrer">rents rise</a>. As Danielle Hale, Chief Economist at realtor.com, <a href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-apr-23-2022/" title="notes" target="_blank" rel="noopener noreferrer">notes</a>:
“Rising rents, which continue to climb at double-digit pace . . . and the prospect of locking in a monthly housing cost in a market with widespread inflation are motivating today’s first-time homebuyers.”
When Inflation Has Risen in the Past, Home Prices Have Too
Your house is also an asset that typically increases in value over time, even during inflation. That‘s because as prices rise, the value of your home does too. Mark Cussen, Financial Writer for Investopedia, puts it like <a href="https://www.investopedia.com/articles/investing/060916/top-5-ways-hedge-against-inflation.asp" title="this" target="_blank" rel="noopener noreferrer">this</a>:
“There are many advantages to investing in real estate. . . . It often acts as a good inflation hedge since there will always be a demand for homes, regardless of the economic climate, and because as inflation rises, so do property values. . . .”
And since rising home values help increase your <a href="https://www.simplifyingthemarket.com/2022/04/08/do-you-know-how-much-equity-you-have-in-your-home-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="equity" target="_blank" rel="noopener noreferrer">equity</a>, and by extension your <a href="https://www.simplifyingthemarket.com/2022/03/28/a-key-to-building-wealth-is-homeownership/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="net worth" target="_blank" rel="noopener noreferrer">net worth</a>, homeownership is historically a good hedge against inflation.
Bottom Line
Buying a home is a powerful decision. It’s no wonder why so many people view it as the best long-term investment, even when inflation is high. When you buy, you help shield yourself from increases in your housing costs and you own an asset that typically gains value with time. If you want to better understand how buying a home could be a great investment for you, let’s connect today.
2022-06-13T05:57:00-07:002022-06-13T06:00:55-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9311What Are the Best Options for Today’s First-Time Homebuyers?What Are the Best Options for Today’s First-Time Homebuyers?
<img width="750" height="410" src="https://files.mykcm.com/2022/06/07105405/20220608-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="What Are the Best Options for Today’s First-Time Homebuyers? | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/06/07105405/20220608-KCM-Share.jpg 750w, https://files.mykcm.com/2022/06/07105405/20220608-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/06/07105405/20220608-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re looking to buy your first home, you’re likely balancing several factors. Because both <a href="https://www.simplifyingthemarket.com/2022/05/17/why-rising-mortgage-rates-push-buyers-off-the-fence/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a> and <a href="https://www.simplifyingthemarket.com/2022/04/07/the-future-of-home-price-appreciation-and-what-it-means-for-you/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a> have risen this year, it costs more to buy a home than it did even just a few months ago. But that doesn’t mean you have to put your plans on hold.
If you partner with a trusted real estate advisor and hone your strategy, you can navigate today’s market and find the home you’re looking for. Here are two tips to help you get started.
Work with a Professional To Prioritize Your Wish List
If you’re having trouble finding a home in your budget that checks all the boxes, it may be worth taking another look at your lists of what you want and what you really need. <a href="https://www.nerdwallet.com/article/mortgages/fthb-affordability-q42021" title="According" target="_blank" rel="noopener noreferrer">According</a> to the latest First-Time Homebuyer Metro Affordability Report from NerdWallet, your <a href="https://www.simplifyingthemarket.com/2022/04/04/balancing-your-wants-and-needs-as-a-homebuyer-today/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="wish list" target="_blank" rel="noopener noreferrer">wish list</a> can have as much impact on your search as your finances:
“Your budget isn’t all that you need to be concerned about; your wish list and desired location may carry just as much weight.”
It’s all about prioritization. If you’re serious about purchasing your first home soon, be flexible in what you're looking for to open up your pool of options. Partner with a local <a href="https://www.simplifyingthemarket.com/2022/05/23/work-with-a-real-estate-professional-if-you-want-the-best-advice/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="real estate professional" target="_blank" rel="noopener noreferrer">real estate professional</a> to better understand what’s available in today’s market and reprioritize your wish list. Remember, making a concession now doesn’t mean you’ll never have everything on your list. After you’ve moved in, you can always add certain features to make the home <a href="https://www.simplifyingthemarket.com/2022/05/18/how-homeownership-can-bring-you-joy/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="your own" target="_blank" rel="noopener noreferrer">your own</a>.
Increase Your Search Radius To Consider More Locations
Some areas may have more homes within your target price range than others, but it may require you to be flexible on your location. For example, if you’re a <a href="https://www.simplifyingthemarket.com/2022/04/06/remote-work-trends-mean-flexibility-for-first-time-homebuyers/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="remote worker" target="_blank" rel="noopener noreferrer">remote worker</a>, you may be able to expand your search radius. As Fannie Mae <a href="https://www.fanniemae.com/research-and-insights/perspectives/consumers-discuss-affordability-and-impact-remote-work-housing-preferences" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“. . . continued remote work flexibility is likely giving many the ability to live farther away in more affordable areas."
The decision to search in places with a lower cost of living could help you find a home that fits your budget and checks the most boxes off your wish list.
Bottom Line
If you’re serious about purchasing your first home this year, revisiting your wish list and desired location can help. Let’s connect to explore all the options in our local market – and beyond – so you can achieve your homeownership dreams.
2022-06-08T05:18:00-07:002022-06-08T06:34:35-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9210Why Summer Is a Great Time To Buy a Vacation HomeWhy Summer Is a Great Time To Buy a Vacation Home
<img width="750" height="410" src="https://files.mykcm.com/2022/05/18161635/20220526-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Why Summer Is a Great Time To Buy a Vacation Home | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/05/18161635/20220526-KCM-Share.jpg 750w, https://files.mykcm.com/2022/05/18161635/20220526-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/05/18161635/20220526-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones. Now that summer is just around the corner, it’s worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you.
Why You May Want To Consider a Vacation Home Today
Over the past two years, a lot has changed. You may be one of many people who now <a href="https://www.simplifyingthemarket.com/2022/02/04/how-remote-work-impacts-your-home-search-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="work from home" target="_blank" rel="noopener noreferrer">work from home</a> and have added flexibility in where you live. You may also be someone who delayed trips for personal or health reasons. If either is true for you, there could be a unique opportunity to use the flexibility that comes with remote work or the money saved while not traveling to <a href="https://www.simplifyingthemarket.com/2022/02/21/real-estate-voted-the-best-investment-eight-years-in-a-row/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="invest in your future" target="_blank" rel="noopener noreferrer">invest in your future</a> by buying a vacation home.
<a href="https://www.bankrate.com/mortgages/how-to-buy-a-vacation-home/" title="Bankrate" target="_blank" rel="noopener noreferrer">Bankrate</a> explains why a second home, or a vacation home, may be something worth considering:
“For those who are able, buying a second home is suddenly more appealing, as remote working became the norm for many professionals during the pandemic. Why not work from the place where you like to vacation — the place where you want to live?
If you don’t work remotely, a vacation home could still be at the top of your wish list if you have a favorite getaway spot that you visit often. It beats staying in a tiny hotel room or worrying about rental rates each time you want to take a trip.”
How a Professional Can Help You Find the Right One
So, if you’re looking for an oasis, you may be able to make it a second home rather than just the destination for a trip. If you could see yourself soaking up the sun in a vacation home, you may want to start your search. Summer is a popular time to buy vacation homes. By beginning the process now, you could get ahead of the competition.
The first step is working with a local real estate advisor who can help you find a home in your desired location. A professional has the knowledge and resources to help you understand the market, what homes are available and at what price points, and more. They can also walk you through all the perks of owning a second home and how it can benefit you.
A <a href="https://www.nar.realtor/newsroom/realtorsr-discuss-top-emerging-tech-trends-impacting-real-estate-industry" title="recent article" target="_blank" rel="noopener noreferrer">recent article</a> from the National Association of Realtors (NAR), mentions some of the top reasons buyers today are looking into purchasing a second, or a vacation, home:
“According to Google's data, the top reasons that homeowners cited for purchasing a second home were to diversify their investments, earn money renting, and use as a vacation home.”
If any of the reasons covered here resonate with you, connect with a real estate professional to learn more. They can give you <a href="https://www.simplifyingthemarket.com/2022/05/23/work-with-a-real-estate-professional-if-you-want-the-best-advice/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="expert advice" target="_blank" rel="noopener noreferrer">expert advice</a> based on what you need, your goals, and what you’re hoping to get out of your second home.
Bottom Line
Owning a vacation home is an investment in your future and your lifestyle. If this is one of your goals this year, you still have time to buy and enjoy spending the summer in your vacation home. When you’re ready to get started, let’s connect.
2022-05-26T05:24:00-07:002022-05-26T06:27:26-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9186Sellers Have an Opportunity as Home Prices Re-AccelerateSellers Have an Opportunity as Home Prices Re-Accelerate
<img width="750" height="410" src="https://files.mykcm.com/2022/05/18135657/20220524-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Sellers Have an Opportunity as Home Prices Re-Accelerate | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/05/18135657/20220524-KCM-Share.jpg 750w, https://files.mykcm.com/2022/05/18135657/20220524-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/05/18135657/20220524-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
As <a href="https://www.simplifyingthemarket.com/2022/04/20/how-to-approach-rising-mortgage-rates-as-a-buyer/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a> started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to <a href="https://www.simplifyingthemarket.com/2022/03/24/what-you-can-expect-from-the-spring-housing-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="appreciate" target="_blank" rel="noopener noreferrer">appreciate</a>. The latest data on home prices seems to confirm that trend.
According to <a href="https://www.corelogic.com/intelligence/u-s-home-price-insights/" title="data" target="_blank" rel="noopener noreferrer">data</a> from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:
<a href="https://files.mykcm.com/2022/05/18135654/20220524-MEM-Eng.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-102507" src="https://files.mykcm.com/2022/05/18135654/20220524-MEM-Eng.png" alt="Sellers Have an Opportunity as Home Prices Re-Accelerate | MyKCM" width="600" height="450" /></a>This is largely due to an ongoing imbalance in <a href="https://www.simplifyingthemarket.com/2022/04/14/on-the-fence-of-whether-or-not-to-move-this-spring-consider-this/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="supply and demand" target="_blank" rel="noopener noreferrer">supply and demand</a>. Specifically, <a href="https://www.simplifyingthemarket.com/2022/04/28/what-you-need-to-know-about-selling-in-a-sellers-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="housing supply" target="_blank" rel="noopener noreferrer">housing supply</a> is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increased competition drove home prices up even more. Selma Hepp, Deputy Chief Economist at CoreLogic, <a href="https://www.corelogic.com/intelligence/us-sp-corelogic-case-shiller-index-registers-new-high-up-19-8-in-february/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“Home price growth continued to gain speed in early spring, as eager buyers tried to get in front of the mortgage rate surge.”
And experts say prices are <a href="https://www.simplifyingthemarket.com/2022/05/10/will-home-prices-fall-this-year-heres-what-experts-say/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="forecast" target="_blank" rel="noopener noreferrer">forecast</a> to continue appreciating, just at a more moderate pace moving forward. A recent article from Fortune <a href="https://fortune.com/2022/04/27/how-likely-home-prices-decline-in-every-major-housing-market-corelogic/amp/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“. . . the swift move up in mortgage rates . . . doesn’t mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model . . . still predicts home prices will climb further this year.”
What This Means for You
If you’re thinking about <a href="https://www.simplifyingthemarket.com/2022/05/04/your-house-could-be-closer-to-list-ready-than-you-think/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="selling your house" target="_blank" rel="noopener noreferrer">selling your house</a>, you should know you have a great opportunity to list your home and capitalize on today’s <a href="https://www.simplifyingthemarket.com/2022/05/02/todays-home-price-appreciation-is-great-news-for-existing-homeowners/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home price appreciation" target="_blank" rel="noopener noreferrer">home price appreciation</a>. As prices rise, so does the value of your home, which gives your <a href="https://www.simplifyingthemarket.com/2022/04/08/do-you-know-how-much-equity-you-have-in-your-home-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="equity" target="_blank" rel="noopener noreferrer">equity</a> a big boost.
When you <a href="https://www.simplifyingthemarket.com/2022/04/29/give-your-curb-appeal-a-boost-before-you-sell-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="sell" target="_blank" rel="noopener noreferrer">sell</a>, you can use that <a href="https://www.simplifyingthemarket.com/2022/03/21/the-average-homeowner-gained-more-than-55k-in-equity-over-the-past-year/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="equity" target="_blank" rel="noopener noreferrer">equity</a> toward the purchase of your next home. And at today’s record-level of appreciation, that equity may be enough to cover some (if not all) of your <a href="https://www.simplifyingthemarket.com/2021/12/22/the-perks-of-putting-20-down-on-a-home/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="down payment" target="_blank" rel="noopener noreferrer">down payment</a>.
Bottom Line
History shows rising mortgage rates have not had a negative impact on home prices. Now is still a great time to sell your house thanks to ongoing price appreciation. When you’re ready to find out how much equity you have in your current home and what’s happening with home prices in your local area, let’s connect.
2022-05-24T06:06:00-07:002022-05-24T06:08:00-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:9130How Homeownership Can Bring You Joy
<img width="750" height="410" src="https://files.mykcm.com/2022/05/17115240/20220518-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="How Homeownership Can Bring You Joy | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/05/17115240/20220518-KCM-Share.jpg 750w, https://files.mykcm.com/2022/05/17115240/20220518-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/05/17115240/20220518-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
If you’re trying to decide whether to rent or buy a home, you’re probably weighing a few different factors. The <a href="https://www.mykcm.com/2022/04/26/how-homeownership-can-help-shield-you-from-inflation/" title="financial benefits">financial benefits</a> of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own.
If you want to express yourself by upgrading and customizing your living space but are feeling held back by your rental agreement, it might be time to consider the perks of owning your home.
A Little Change Can Bring Lots of Joy
There’s a significant level of pride that comes from <a href="https://www.mykcm.com/2022/04/27/the-dream-of-homeownership-is-worth-the-effort/" title="owning a home">owning a home</a>. That’s because it’s a space that truly belongs to you.
A <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-remodeling-impact-report-04-19-2022.pdf" title="recent report" target="_blank" rel="noopener noreferrer">recent report</a> from the National Association of Realtors (NAR) shows making updates or remodeling your home can help you feel more at ease and comfortable in your living space. NAR measures this with a Joy Score that indicates how much happiness specific home upgrades bring. According to NAR:
“There were numerous interior projects that received a perfect Joy Score of 10: paint entire interior of home, paint one room of home, add a new home office, hardwood flooring refinish, new wood flooring, closet renovation, insulation upgrade, and attic conversion to living area.”
The report also breaks down just how much each of these projects can enhance your emotional attachment to your home, even leading you to want to spend even more time in the space (see graph below):
<a href="https://files.mykcm.com/2022/05/17115243/20220518-MEM-Eng-1.png" rel="noopener noreferrer" class="use_kcm_lightbox" target="_blank"><img loading="lazy" class="aligncenter wp-image-102471" src="https://files.mykcm.com/2022/05/17115243/20220518-MEM-Eng-1.png" alt="How Homeownership Can Bring You Joy | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/05/17115243/20220518-MEM-Eng-1.png 1000w, https://files.mykcm.com/2022/05/17115243/20220518-MEM-Eng-1-600x450.png 600w, https://files.mykcm.com/2022/05/17115243/20220518-MEM-Eng-1-768x576.png 768w, https://files.mykcm.com/2022/05/17115243/20220518-MEM-Eng-1-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
And while many of the items NAR highlights are larger tasks, some, like painting rooms, are much smaller. Even those quicker projects can still bring you a greater sense of joy and accomplishment. Not to mention when you make upgrades in your home, you could be increasing its value which also gives your <a href="https://www.mykcm.com/2022/03/28/a-key-to-building-wealth-is-homeownership/" title="net worth">net worth</a> a boost if you invest your time and effort wisely.
You’re Free To Update Your Home to Your Heart’s Content
These types of updates can result in additional <a href="https://www.mykcm.com/2022/02/01/why-a-move-could-bring-you-more-happiness-this-year/" title="happiness">happiness</a> when you complete them, but there’s another reason you can feel good as a homeowner. In most situations, you’re free to renovate or update the interior of your home without needing additional permission. But as Business Insider <a href="https://www.businessinsider.com/personal-finance/renting-vs-buying-a-house-2022-3" title="points out" target="_blank" rel="noopener noreferrer">points out</a>, renters may not have the same freedom:
“Your landlord won’t always approve changes when you rent. But you have the power to update the home when you’re the owner. (Just make sure any big changes are approved by your homeowner’s association, if necessary.)”
If you do make changes as a renter, there’s a good chance you’ll need to revert them back at the end of your lease based on your rental agreement. That can add additional costs when you move out. That’s one major <a href="https://www.mykcm.com/2022/03/22/the-many-benefits-of-homeownership/" title="benefit">benefit</a> of owning your own home. Unless there are specific homeowner’s association requirements, you typically won’t have to worry about the changes you can and can’t make.
Bottom Line
Deciding whether to rent or buy is a personal decision. The financial benefits are critical, but don’t overlook the emotional impact homeownership can have. Let’s connect to discuss all the benefits you can enjoy when you purchase your own home.
2022-05-18T05:47:00-07:002022-05-18T05:49:16-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8972What You Need To Know About Selling in a Sellers’ Market<img width="750" height="410" src="https://files.mykcm.com/2022/04/25155918/20220428-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="What You Need To Know About Selling in a Sellers' Market | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/04/25155918/20220428-KCM-Share.jpg 750w, https://files.mykcm.com/2022/04/25155918/20220428-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/04/25155918/20220428-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" style="font-size: 17px;" />
Even if you haven’t been following real estate news, you’ve likely heard about the current <a href="https://www.simplifyingthemarket.com/2022/04/01/its-still-a-sellers-market-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="sellers’ market" target="_blank" rel="noopener noreferrer">sellers’ market</a>. That’s because there’s a lot of talk about how strong market <a href="https://www.simplifyingthemarket.com/2022/03/14/this-spring-presents-sellers-with-a-golden-opportunity/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="conditions" target="_blank" rel="noopener noreferrer">conditions</a> are for people who want to <a href="https://www.simplifyingthemarket.com/2022/04/14/on-the-fence-of-whether-or-not-to-move-this-spring-consider-this/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="sell their houses" target="_blank" rel="noopener noreferrer">sell their houses</a>. But if you’re thinking about listing your house, you probably want to know: what does being in a sellers’ market really mean?
What Is a Sellers’ Market?
The latest <a href="https://cdn.nar.realtor/sites/default/files/documents/ehs-03-2022-overview-2022-04-20.pdf" title="Existing Home Sales Report" target="_blank" rel="noopener noreferrer">Existing Home Sales Report</a> from the National Association of Realtors (NAR) shows housing supply is still very low. There’s a 2-month supply of homes at the current sales pace.
Historically, a 6-month supply is necessary for a normal or neutral market where there are enough homes available for active buyers. That puts today deep in sellers’ market territory (see graph below):
<a href="https://files.mykcm.com/2022/04/25155923/20220428-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-101935" src="https://files.mykcm.com/2022/04/25155923/20220428-MEM-Eng-1.png" alt="What You Need To Know About Selling in a Sellers' Market | MyKCM" width="600" height="450" /></a>
What Does This Mean for You When You Sell?
When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to more <a href="https://www.simplifyingthemarket.com/2022/03/10/how-to-navigate-a-market-where-multiple-offers-is-the-new-normal/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="bidding wars" target="_blank" rel="noopener noreferrer">bidding wars</a>. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer upfront. This could drive the final price of your house up.
And because <a href="https://www.simplifyingthemarket.com/2022/04/20/how-to-approach-rising-mortgage-rates-as-a-buyer/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a> and <a href="https://www.simplifyingthemarket.com/2022/04/07/the-future-of-home-price-appreciation-and-what-it-means-for-you/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a> are climbing, serious buyers are motivated to make their purchase soon, before those two things rise further. That means, if you put your house <a href="https://www.simplifyingthemarket.com/2022/03/18/spring-cleaning-checklist-for-sellers-infographic/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="on the market" target="_blank" rel="noopener noreferrer">on the market</a> while supply is still low, it will likely get a lot of attention from competitive buyers.
Bottom Line
The current real estate market has incredible opportunities for homeowners looking to make a move. Listing your house this season means you’ll be in front of serious buyers who are ready to buy. Let’s connect so you can jumpstart the selling process.
2022-04-28T05:09:00-07:002022-04-28T08:10:48-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8886What Is Multigenerational Housing? [INFOGRAPHIC]
<img width="1046" height="2456" src="https://files.mykcm.com/2022/04/14144240/20220415-MEM-1046x2456.png" class="attachment-entry size-entry wp-post-image" alt="What Is Multigenerational Housing? [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/04/14144240/20220415-MEM-1046x2456.png 1046w, https://files.mykcm.com/2022/04/14144240/20220415-MEM-256x600.png 256w, https://files.mykcm.com/2022/04/14144240/20220415-MEM-436x1024.png 436w, https://files.mykcm.com/2022/04/14144240/20220415-MEM-768x1803.png 768w, https://files.mykcm.com/2022/04/14144240/20220415-MEM-654x1536.png 654w, https://files.mykcm.com/2022/04/14144240/20220415-MEM-872x2048.png 872w, https://files.mykcm.com/2022/04/14144240/20220415-MEM-100x235.png 100w, https://files.mykcm.com/2022/04/14144240/20220415-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" />
Some Highlights
If you have additional loved ones coming to live with you but don’t have enough space, it may be time to consider a larger, <a href="https://www.mykcm.com/2022/02/03/millions-of-americans-have-discovered-the-benefits-of-multigenerational-households/" title="multigenerational home">multigenerational home</a>.
Some key <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-home-buyers-and-sellers-generational-trends-03-23-2022.pdf" title="benefits" target="_blank" rel="noopener noreferrer">benefits</a> of multigenerational living include a combined homebuying budget, shared caregiving duties, enhanced relationships, and more. These benefits might be why <a href="https://www.gu.org/app/uploads/2021/04/21-MG-Family-Report-WEB.pdf" title="more people" target="_blank" rel="noopener noreferrer">more people</a> are choosing to live in multigenerational homes today.
Let’s connect so you can find a house that meets your <a href="https://www.mykcm.com/2022/04/04/balancing-your-wants-and-needs-as-a-homebuyer-today/" title="changing needs">changing needs</a> and has plenty of space for you and your loved ones.
2022-04-15T05:30:00-07:002022-04-18T06:36:23-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8848On the Fence of Whether or Not To Move This Spring? Consider This.
<img width="750" height="410" src="https://files.mykcm.com/2022/04/13160913/20220414-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="On the Fence of Whether or Not To Move This Spring? Consider This. | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/04/13160913/20220414-KCM-Share.jpg 750w, https://files.mykcm.com/2022/04/13160913/20220414-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/04/13160913/20220414-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
If you’re thinking of <a href="https://www.mykcm.com/2022/03/14/this-spring-presents-sellers-with-a-golden-opportunity/" title="selling">selling</a> your house, it may be because you’ve heard <a href="https://www.mykcm.com/2022/04/07/the-future-of-home-price-appreciation-and-what-it-means-for-you/" title="prices are rising">prices are rising</a>, listings are going fast, and sellers are getting <a href="https://www.mykcm.com/2022/03/10/how-to-navigate-a-market-where-multiple-offers-is-the-new-normal/" title="multiple offers">multiple offers</a> on their homes. But why are conditions so good for sellers today? And what can you <a href="https://www.mykcm.com/2022/03/24/what-you-can-expect-from-the-spring-housing-market/" title="expect">expect</a> when you move? To help answer both of those questions, let’s turn to the data.
Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latest <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-02-realtors-confidence-index-03-18-2022.pdf" title="buyer and seller traffic" target="_blank" rel="noopener noreferrer">buyer and seller traffic</a> from the National Association of Realtors (NAR) to help paint the picture of what this looks like:
<a href="https://files.mykcm.com/2022/04/13160916/20220414-MEM-Eng-1.png" rel="noopener noreferrer" class="use_kcm_lightbox" target="_blank"><img loading="lazy" class="aligncenter wp-image-101801" src="https://files.mykcm.com/2022/04/13160916/20220414-MEM-Eng-1.png" alt="On the Fence of Whether or Not To Move This Spring? Consider This. | MyKCM" width="600" height="338" srcset="https://files.mykcm.com/2022/04/13160916/20220414-MEM-Eng-1.png 1000w, https://files.mykcm.com/2022/04/13160916/20220414-MEM-Eng-1-600x338.png 600w, https://files.mykcm.com/2022/04/13160916/20220414-MEM-Eng-1-768x432.png 768w, https://files.mykcm.com/2022/04/13160916/20220414-MEM-Eng-1-100x56.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
Notice how much darker the blues are on the left. This shows buyer traffic is strong today. In contrast, the much lighter blues on the right indicate weak or very weak seller traffic. In a nutshell, the demand for homes is significantly greater than what’s available to purchase.
What That Means for You
You have an incredible advantage when you <a href="https://www.mykcm.com/2022/03/18/spring-cleaning-checklist-for-sellers-infographic/" title="sell your house">sell your house</a> under these conditions. Since buyer demand is so high at a time when seller traffic is so low, there’s a good chance buyers will be competing for your house.
According to NAR, in February, the average home sold got <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-02-realtors-confidence-index-03-18-2022.pdf" title="4.8 offers" target="_blank" rel="noopener noreferrer">4.8 offers</a>. When buyers have to compete with one another like this, they’ll do everything they can to make their offer stand out. This could play to your favor and mean you’ll see things like waived <a href="https://www.mykcm.com/2021/10/25/knowledge-is-power-when-it-comes-to-appraisals-and-inspections/" title="contingencies">contingencies</a>, offers over asking price, <a href="https://www.mykcm.com/2022/04/05/what-you-need-to-budget-for-when-buying-a-home/" title="earnest money deposits">earnest money deposits</a>, and more. Selling when demand is high and supply is low sets you up for a big win.
If you’re also looking to buy a house, you may be tempted to focus more on just the seller traffic map and wonder if it means you’ll have trouble finding your <a href="https://www.mykcm.com/2022/04/04/balancing-your-wants-and-needs-as-a-homebuyer-today/" title="next home">next home</a>. But remember this: perspective is key. As Danielle Hale, Chief Economist at realtor.com, <a href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-mar-12-2022/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“The limited number of homes for sale is a lesson in perspective. This same stat that frustrates would-be homebuyers also means that today’s home sellers enjoy more limited competition than last year’s home sellers.”
If you look at the big picture, the opportunity you have as a seller today is unprecedented. Last year was a hot <a href="https://www.mykcm.com/2022/04/01/its-still-a-sellers-market-infographic/" title="sellers’ market">sellers’ market</a>. This year, inventory is even lower, and that means an even bigger opportunity for you. Even though finding your next home in a market with <a href="https://www.mykcm.com/2022/02/24/the-1-reason-to-sell-your-house-today/" title="low inventory">low inventory</a> can be challenging, is that concern worth passing on some of the best conditions sellers have ever seen?
As added peace of mind, remember <a href="https://www.mykcm.com/2022/03/01/an-expert-advisor-will-give-you-the-best-advice-in-todays-market/" title="real estate professionals">real estate professionals</a> have been juggling this imbalance of supply and demand for nearly two years, and they know how to help both buyers and sellers find success when they move. A skilled agent can help you capitalize on the great opportunity you have as a seller today and guide you through the buying process until you find the perfect place to call your next home.
Bottom Line
If you’re ready to move, you have an incredible opportunity in front of you today. Trust the experts. Let’s connect so you have expertise on your side that can help you win when you sell and when you buy.
2022-04-14T05:28:00-07:002022-04-14T05:31:01-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8751Balancing Your Wants and Needs as a Homebuyer Today
<img width="750" height="410" src="https://files.mykcm.com/2022/04/01125715/20220404-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Balancing Your Wants and Needs as a Homebuyer Today | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/04/01125715/20220404-KCM-Share.jpg 750w, https://files.mykcm.com/2022/04/01125715/20220404-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/04/01125715/20220404-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
Since the <a href="https://www.mykcm.com/2022/03/04/supply-and-demand-in-todays-market-infographic/" title="number of homes">number of homes</a> for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a <a href="https://www.mykcm.com/2022/03/16/are-you-wondering-if-this-is-the-year-to-buy-a-home/" title="home">home</a> that fits your needs.
Danielle Hale, Chief Economist for realtor.com, explains it like <a href="https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2022/02/26/what-to-do-before-you-buy-a-home.html" title="this" target="_blank" rel="noopener noreferrer">this</a>:
“Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent.”
So how do you go about creating your list of desired features? The first step is to get <a href="https://www.mykcm.com/2022/01/24/why-pre-approval-is-key-for-homebuyers-in-2022/" title="pre-approved">pre-approved</a> for your mortgage. Pre-approval helps you better understand your budget, and that plays an important role in how you’ll craft your list. After all, you don’t want to fall in love with a home that’s too far out of reach.
Once you have a good grasp of your budget, you can begin to list all the features of a home you would like. Here’s a great way to think about them before you begin:
Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).
Nice-To-Haves – These are features that you’d love to have but can live without. Nice-To-Haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender (examples: a second home office, garage, etc.).
Dream State– This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner (examples: farmhouse sink, multiple walk-in closets, etc.).
Finally, once you’ve created your list and categorized it in a way that works for you, discuss it with your <a href="https://www.mykcm.com/2022/03/01/an-expert-advisor-will-give-you-the-best-advice-in-todays-market/" title="real estate advisor">real estate advisor</a>. They’ll be able to help you refine the list further, coach you through the best way to stick to it, and find a home in your area that meets <a href="https://www.mykcm.com/2022/03/22/the-many-benefits-of-homeownership/" title="your needs">your needs</a>.
Bottom Line
Crafting your home search checklist may seem like a small task, but it can save you time and money. It’s also one of the keys to being successful in today’s competitive market. Let’s connect so we can work together to find a home that fits your wants and needs.
2022-04-04T05:41:00-07:002022-04-04T06:57:38-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8672What You Need To Know if You’re Thinking About Building a HomeWhat You Need To Know if You’re Thinking About Building a Home
If you’re ready to <a href="https://www.simplifyingthemarket.com/2022/03/14/this-spring-presents-sellers-with-a-golden-opportunity/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="move up">move up</a>, you may be trying to decide whether you want to buy a home that's already on the market or build a new one. And since the <a href="https://www.simplifyingthemarket.com/2022/02/23/how-supply-and-demand-can-impact-your-buying-and-selling-goals/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="supply of homes">supply of homes</a>available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control.
Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact <a href="https://www.simplifyingthemarket.com/2022/02/10/want-top-dollar-for-your-house-nows-the-time-to-list-it/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="your plans">your plans</a> to move up. When you know what’s happening in the industry, you can make an informed decision on whether to look for a newly built or an existing home in your home search.
Supply Chain Issues
The first hurdle builders are dealing with is the lack of supply of various building materials. According to a <a href="https://www.housingwire.com/articles/its-crazy-homebuilders-big-and-small-struggle-to-finish-projects/" title="recent article" target="_blank" rel="noopener noreferrer">recent article</a> from HousingWire:
“. . . Nearly everything needed in the homebuilding process is facing some sort of delay and subsequent price increase.”
The supply issue isn’t just with <a href="https://nahbnow.com/2022/03/nahb-chairman-calls-for-ending-lumber-tariffs-boosting-output-at-white-house-event/" title="lumber" target="_blank" rel="noopener noreferrer">lumber</a>, even though that’s what’s covered most in the news. The article explains many other supplies are impacted too, including roofing materials, windows, <a href="https://www.builderonline.com/building/rising-costs-supply-chain-challenges-continue-to-hinder-home-building_o" title="garage doors" target="_blank" rel="noopener noreferrer">garage doors</a>, siding, and gypsum (which is used in drywall).
The difficulty in getting these items is dragging out timelines for new homes as builders wait on what they need to finish construction. And since materials are in short supply, even when they do get the product, the principle of supply and demand is driving prices up for those goods. HousingWire <a href="https://www.housingwire.com/articles/opinion-the-profitless-boom-in-residential-construction/" title="explains" target="_blank" rel="noopener noreferrer">explains</a> it like this:
“When supplies are low, charges inevitably go up, . . . Meanwhile, a lack of availability is causing huge delays, meaning builders are struggling to stay on schedule.”
The National Association of Home Builders (NAHB) <a href="https://www.nahb.org/news-and-economics/industry-news/press-releases/2022/02/january-new-home-sales-lower-but-still-solid-as-interest-rates-rise" title="agrees" target="_blank" rel="noopener noreferrer">agrees</a>:
“Builders are grappling with supply-chain issues that are extending construction times and increasing costs.”
Skilled Labor Shortage
But that’s not the only challenge with new home construction today. Builders are also having a hard time finding skilled labor, which means they’re short-handed, further dragging out their timelines. Odeta Kushi, Deputy Chief Economist at First American, <a href="https://www.housingwire.com/articles/skilled-labor-is-returning-to-homebuilding/" title="says" target="_blank" rel="noopener noreferrer">says</a> this is an ongoing challenge for the industry:
“The skilled labor shortage in the construction industry is not new – it’s been an issue for more than a decade now.”
But there is good news. The February <a href="https://www.bls.gov/news.release/pdf/empsit.pdf" title="jobs report" target="_blank" rel="noopener noreferrer">jobs report</a> shows employment gains in the construction industry. Kushi puts this encouraging news into perspective in the article mentioned above:
“Overall this was a good report, . . . The supply of workers continues to fall short of demand, but the underlying momentum of the labor market recovery is strong, and falling COVID case counts provide further forward momentum.”
That means, while finding workers continues to be a challenge for builders, there are signs of positive momentum moving forward.
How This Impacts You
HousingWire <a href="https://www.housingwire.com/articles/opinion-the-profitless-boom-in-residential-construction/" title="explains" target="_blank" rel="noopener noreferrer">explains</a> how these things can impact move-up buyers today:
“The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Explosive supply and labor costs are forcing long delays. . . .”
So, when you weigh your options and try to decide between building a home or buying an existing one, factor the potential delay in new home construction into your decision. While it doesn’t mean you should cross newly built homes off your list, it does mean you should consider your timeline and if you’re willing to wait while your home is being constructed.
Bottom Line
When planning your next move, understanding the latest market conditions is key to making the best decision possible. To make sure you have all the information you need, let’s connect. Together we can make sure you know what’s happening in our local market so you can <a href="https://www.simplifyingthemarket.com/2022/03/01/an-expert-advisor-will-give-you-the-best-advice-in-todays-market/?a=587890-c6f39386e5c0b35edc66223c4d17abc9" title="confidently decide">confidently decide</a> what’s right for you, your priorities, and your timeline.
2022-03-23T06:25:00-07:002022-03-23T06:27:29-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8652The Average Homeowner Gained More Than $55K in Equity over the Past Year
<img width="750" height="410" src="https://files.mykcm.com/2022/03/17105132/20220321-KCM-Share-1.jpg" class="attachment-entry size-entry wp-post-image" alt="The Average Homeowner Gained More Than $55K in Equity over the Past Year | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/03/17105132/20220321-KCM-Share-1.jpg 750w, https://files.mykcm.com/2022/03/17105132/20220321-KCM-Share-1-600x328.jpg 600w, https://files.mykcm.com/2022/03/17105132/20220321-KCM-Share-1-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you.
Here’s how it happened. <a href="https://www.mykcm.com/2022/02/10/want-top-dollar-for-your-house-nows-the-time-to-list-it/" title="Home values">Home values</a> are on the rise thanks to <a href="https://www.mykcm.com/2022/02/24/the-1-reason-to-sell-your-house-today/" title="low housing supply">low housing supply</a>and <a href="https://www.mykcm.com/2022/02/23/how-supply-and-demand-can-impact-your-buying-and-selling-goals/" title="high buyer demand">high buyer demand</a>. Basically, there aren’t enough homes available to meet this <a href="https://www.mykcm.com/2022/02/18/whats-driving-todays-high-buyer-demand-infographic/" title="high buyer interest">high buyer interest</a>, so bidding wars are driving <a href="https://www.mykcm.com/2022/03/03/are-home-prices-continuing-to-rise/" title="home prices">home prices</a> up. When you own a home, the rising prices mean your home is worth more in today’s market. And as home values climb, your equity does too. As Dr. Frank Nothaft, Chief Economist at CoreLogic, <a href="https://www.corelogic.com/intelligence/homeowner-equity-insights/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“Home prices rose 18% during 2021 in the CoreLogic Home Price Index, the largest annual gain recorded in its 45-year history, generating a big increase in home equity wealth.”
The latest <a href="https://www.corelogic.com/intelligence/homeowner-equity-insights/" title="Homeowner Equity Insights" target="_blank" rel="noopener noreferrer">Homeowner Equity Insights</a> from CoreLogic shed light on just how much rising home values have boosted homeowner equity. According to that report, the average homeowner’s equity has grown by $55,300 over the last 12 months.
Want to know what’s happening in your area? Here’s a breakdown of the average year-over-year equity growth for each state based on that data.
<a href="https://files.mykcm.com/2022/03/17105135/20220321-MEM-Eng-1.png" target="_blank" rel="" class="use_kcm_lightbox"><img loading="lazy" class="aligncenter wp-image-101531" src="https://files.mykcm.com/2022/03/17105135/20220321-MEM-Eng-1.png" alt="The Average Homeowner Gained More Than $55K in Equity over the Past Year | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/03/17105135/20220321-MEM-Eng-1.png 1000w, https://files.mykcm.com/2022/03/17105135/20220321-MEM-Eng-1-600x450.png 600w, https://files.mykcm.com/2022/03/17105135/20220321-MEM-Eng-1-768x576.png 768w, https://files.mykcm.com/2022/03/17105135/20220321-MEM-Eng-1-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
How Rising Equity Impacts You<br />
In addition to building your overall net worth, equity can also help you achieve other goals like buying your next home. It works like this: when you sell your house, the equity you built up comes back to you in the sale.
In a market where you’re gaining so much equity, it may be just what you need to cover a large portion – if not all – of the <a href="https://www.mykcm.com/2022/01/03/how-much-do-you-need-for-your-down-payment/" title="down payment">down payment</a> on your next home. So, if you’ve been holding off on <a href="https://www.mykcm.com/2022/01/27/why-right-now-is-a-once-in-a-lifetime-opportunity-for-sellers/" title="selling">selling</a> and worried about being priced out of your next home because of today’s home price appreciation, rest assured your equity can help fuel your move.
Bottom Line
Equity can be a real game-changer if you’re planning to make a move. To find out just how much equity you have in your home and how you can use it to fuel your next purchase, let’s connect so you can get a professional equity assessment report on your house in the Main Line and Philadelphia.
2022-03-21T05:45:00-07:002022-03-21T08:46:46-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8651Spring Cleaning Checklist for Sellers [INFOGRAPHIC]
<img width="1046" height="1566" src="https://files.mykcm.com/2022/03/16150023/20220318-MEM-1046x1566.png" class="attachment-entry size-entry wp-post-image" alt="Spring Cleaning Checklist for Sellers [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/03/16150023/20220318-MEM-1046x1566.png 1046w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-401x600.png 401w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-684x1024.png 684w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-768x1150.png 768w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-1026x1536.png 1026w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-100x150.png 100w, https://files.mykcm.com/2022/03/16150023/20220318-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" />
Some Highlights
If you’re thinking about selling your house this <a href="https://www.mykcm.com/2022/03/14/this-spring-presents-sellers-with-a-golden-opportunity/" title="spring">spring</a>, here are some things you’ll want to tackle <a href="https://www.mykcm.com/2022/02/10/want-top-dollar-for-your-house-nows-the-time-to-list-it/" title="before you list">before you list</a>.
Spend your time on tasks that make it feel inviting, show it’s cared for, and boost your curb appeal.
To determine the full list of things you’ll want to tackle for your home, you need the opinion of a <a href="https://www.mykcm.com/2022/03/01/an-expert-advisor-will-give-you-the-best-advice-in-todays-market/" title="trusted expert">trusted expert</a>. Let’s connect to help make sure your house shows well this season.
2022-03-18T05:43:00-07:002022-03-21T08:44:54-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8505Supply and Demand in Today’s Market [INFOGRAPHIC]
<img width="1046" height="2586" src="https://files.mykcm.com/2022/03/03164955/20220304-MEM-1046x2586.png" class="attachment-entry size-entry wp-post-image" alt="Supply and Demand in Today’s Market [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/03/03164955/20220304-MEM-1046x2586.png 1046w, https://files.mykcm.com/2022/03/03164955/20220304-MEM-243x600.png 243w, https://files.mykcm.com/2022/03/03164955/20220304-MEM-414x1024.png 414w, https://files.mykcm.com/2022/03/03164955/20220304-MEM-768x1899.png 768w, https://files.mykcm.com/2022/03/03164955/20220304-MEM-621x1536.png 621w, https://files.mykcm.com/2022/03/03164955/20220304-MEM-828x2048.png 828w, https://files.mykcm.com/2022/03/03164955/20220304-MEM-100x247.png 100w, https://files.mykcm.com/2022/03/03164955/20220304-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" />
Some Highlights
Today’s <a href="https://magazine.realtor/daily-news/2022/01/20/existing-home-sales-reach-highest-point-since-2006" title="housing market" target="_blank" rel="noopener noreferrer">housing market</a> is the direct result of <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-01-realtors-confidence-index-02-18-2022.pdf" title="low supply" target="_blank" rel="noopener noreferrer">low supply</a> and <a href="https://www.mykcm.com/2022/02/23/how-supply-and-demand-can-impact-your-buying-and-selling-goals/" title="high buyer demand">high buyer demand</a>. Here’s what that means for you and your plans to buy or sell.
For <a href="https://www.mykcm.com/2022/02/14/are-you-ready-to-fall-in-love-with-homeownership" title="buyers">buyers</a>, expect competition, be ready to move fast, and be prepared to submit your strongest offer. For <a href="https://www.mykcm.com/2022/02/24/the-1-reason-to-sell-your-house-today/" title="sellers">sellers</a>, know your house will be the <a href="https://www.mykcm.com/2022/02/10/want-top-dollar-for-your-house-nows-the-time-to-list-it/" title="center of attention">center of attention</a> and that it’ll likely sell quickly and get multiple offers.
If you’re ready to move, let’s connect to talk about our local area and how you can take advantage of today’s unprecedented housing market.
2022-03-04T06:09:00-07:002022-03-04T08:11:40-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8415Real Estate Voted the Best Investment Eight Years in a Row
<img width="750" height="410" src="https://files.mykcm.com/2022/02/18105859/20220221-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Real Estate Voted the Best Investment Eight Years in a Row | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/02/18105859/20220221-KCM-Share.jpg 750w, https://files.mykcm.com/2022/02/18105859/20220221-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/02/18105859/20220221-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
In an annual <a href="https://news.gallup.com/poll/349607/americans-expect-home-prices-rise-divided-buying.aspx" title="Gallup" target="_blank" rel="noopener noreferrer">Gallup</a> poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best <a href="https://www.mykcm.com/2022/01/21/americans-choose-real-estate-as-the-best-investment-infographic/" title="long-term investment">long-term investment</a> (see graph below):
<a href="https://files.mykcm.com/2022/02/18105653/20220221-MEM-ENG.png" target="_blank" rel="" class="use_kcm_lightbox"><img loading="lazy" class="aligncenter wp-image-101232" src="https://files.mykcm.com/2022/02/18105653/20220221-MEM-ENG.png" alt="Real Estate Voted the Best Investment Eight Years in a Row | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/02/18105653/20220221-MEM-ENG.png 960w, https://files.mykcm.com/2022/02/18105653/20220221-MEM-ENG-600x450.png 600w, https://files.mykcm.com/2022/02/18105653/20220221-MEM-ENG-768x576.png 768w, https://files.mykcm.com/2022/02/18105653/20220221-MEM-ENG-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines.
Why Is Real Estate a Great Investment During Times of High Inflation?
With inflation reaching its highest level in <a href="https://www.cbsnews.com/news/consumer-prices-inflation-highest-rate-in-40-years/" title="40 years" target="_blank" rel="noopener noreferrer">40 years</a>, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board. That includes goods, services, housing costs, and more. But when you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increasing housing payments. James Royal, Senior Wealth Management Reporter at Bankrate, <a href="https://www.bankrate.com/investing/inflation-hedges-to-protect-against-rising-prices/" title="explains" target="_blank" rel="noopener noreferrer">explains</a> it like this:
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
If you’re a <a href="https://www.mykcm.com/2022/01/04/avoid-the-rental-trap-in-2022/" title="renter">renter</a>, you don’t have that same benefit, and you aren’t protected from increases in your housing costs, especially rising rents.
History Shows During Inflationary Periods, Home Prices Rise as Well
As a homeowner, your house is an asset that typically increases in value over time, even during inflation. That‘s because, as prices rise, the value of your home does, too. And that makes <a href="https://www.mykcm.com/2022/01/12/two-ways-homebuyers-can-win-in-todays-market/" title="buying a home">buying a home</a> a great hedge during periods of high inflation. Natalie Campisi, Advisor Staff for Forbes, <a href="https://www.forbes.com/advisor/mortgages/homebuying-can-hedge-against-inflation/" title="notes" target="_blank" rel="noopener noreferrer">notes</a>:
“Tangible assets like real estate get more valuable over time, which makes buying a home a good way to spend your money during inflationary times.”
Bottom Line
Housing truly is a strong investment, especially when inflation is high. When you lock in a mortgage payment, you’re shielded from housing cost increases, and you own an asset that typically gains value with time. If you want to better understand how buying a home could be a great investment for you, let’s connect today.
2022-02-21T07:58:00-07:002022-02-22T08:11:56-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8360More People Are Planning To Buy a Home Soon<br />
<article id="post-101173" class="post-101173 post type-post status-publish format-standard has-post-thumbnail hentry category-sellers category-housing-market-updates">
<img width="750" height="410" src="https://files.mykcm.com/2022/02/15124458/20220216-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="More People Are Planning To Buy a Home Soon | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/02/15124458/20220216-KCM-Share.jpg 750w, https://files.mykcm.com/2022/02/15124458/20220216-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/02/15124458/20220216-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
While some homeowners may be tempted to hold off until spring to list their houses, you should know – homebuyers aren’t waiting. Demand is high today as more people are trying to beat rising <a href="https://www.mykcm.com/2022/02/02/the-top-indicator-if-you-want-to-know-where-mortgage-rates-are-heading/" title="mortgage rates">mortgage rates</a>. As a result, eager buyers are entering the market or moving their plans up so they can make their purchases as soon as possible.
The most recent <a href="https://www.conference-board.org/data/consumerconfidence.cfm" title="Consumer Confidence Survey" target="_blank" rel="noopener noreferrer">Consumer Confidence Survey</a> finds that, of those surveyed, the percentage of people planning to buy over the next six months has increased substantially since last fall (see graph below):
<a href="https://files.mykcm.com/2022/02/15124502/20220216-MEM-Eng-1.png" target="_blank" rel="" class="use_kcm_lightbox"><img loading="lazy" class="aligncenter wp-image-101175" src="https://files.mykcm.com/2022/02/15124502/20220216-MEM-Eng-1.png" alt="More People Are Planning To Buy a Home Soon | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/02/15124502/20220216-MEM-Eng-1.png 1000w, https://files.mykcm.com/2022/02/15124502/20220216-MEM-Eng-1-600x450.png 600w, https://files.mykcm.com/2022/02/15124502/20220216-MEM-Eng-1-768x576.png 768w, https://files.mykcm.com/2022/02/15124502/20220216-MEM-Eng-1-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
As the graph shows, the number of consumers fast-tracking their plans to purchase a home has crept up over the past three months. That indicates many buyers are evaluating their strategy and realizing they should act sooner rather than later. And for homeowners planning to sell, it’s a signal that now may be the <a href="https://www.mykcm.com/2022/02/10/want-top-dollar-for-your-house-nows-the-time-to-list-it/" title="time to list">time to list</a>.
While more people are moving their plans up, others are actively putting theirs in motion. Time on the market is a great indication that homebuyers are motivated and moving quickly. According to a recent realtor.com <a href="https://news.move.com/2022-02-08-Realtor-com-R-Housing-Report-Homebuying-Competition-Kicks-Off-2022-with-the-Fastest-Moving-January-Ever" title="report" target="_blank" rel="noopener noreferrer">report</a>, the average home sold faster this January than any January on record.
Danielle Hale, Chief Economist at realtor.com, notes:
“Homes sold at a record-fast January pace, suggesting that buyers are more active than usual for this time of year.”
What Does That Mean for You?
Homebuyers are rethinking their strategies and moving their plans forward. Others are making their moves today. That means demand for your house isn’t just increasing – it’s high right now.
And because there are so <a href="https://www.mykcm.com/2022/01/20/buyers-want-to-know-why-is-housing-supply-still-so-low/" title="few homes">few homes</a> available for determined purchasers to choose from, if you’re planning to sell your house this year, doing so <a href="https://www.mykcm.com/2022/01/05/why-waiting-to-sell-your-house-could-cost-you-a-small-fortune/" title="sooner">sooner</a> means you can take advantage of high <a href="https://www.mykcm.com/2022/01/18/sellers-dont-wait-until-spring-to-make-your-move/" title="buyer demand">buyer demand</a> before more houses are listed in your neighborhood. Why is this important? Because as more houses are put up for sale, buyers will have more options. But until then, your house will be in the spotlight.
Bottom Line
With so many buyers eager to make a purchase, you could benefit by listing your house soon. To understand how strong buyer demand is in our area, let’s connect so you can start making your plans today.
</article>
2022-02-16T06:10:00-07:002022-02-16T07:11:09-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8339Don’t Let Student Loans Delay Your Homeownership Dreams<br />
<article id="post-101044" class="post-101044 post type-post status-publish format-standard has-post-thumbnail hentry category-buying-myths category-down-payments category-first-time-home-buyers category-buyers">
<img width="750" height="410" src="https://files.mykcm.com/2022/02/07112208/20220208-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Don’t Let Student Loans Delay Your Homeownership Dreams | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/02/07112208/20220208-KCM-Share.jpg 750w, https://files.mykcm.com/2022/02/07112208/20220208-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/02/07112208/20220208-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
If you’re looking to <a href="https://www.mykcm.com/2021/12/20/homebuyers-be-ready-to-act-this-winter/" title="buy a home">buy a home</a>, you may be wondering how your student loan debt could impact those plans. Do you have to wait until you’ve paid off your student loans before you can buy your first home? Or could you qualify for a home loan with that debt?
To give you the answers you’re searching for, let’s take a look at what recent data shows. That way, you know what to expect and what to do next to achieve your <a href="https://www.mykcm.com/2022/01/17/achieving-the-dream-of-homeownership/" title="dream">dream</a> of becoming a homeowner. While everyone’s situation is unique, your goal may be more within your reach than you realize.
Do you have to delay your plans because of student loans?
If you’re worried your student loans mean you have to put your <a href="https://www.mykcm.com/2022/01/07/how-to-hit-your-homebuying-goals-this-year-infographic/" title="homeownership goals">homeownership goals</a> on hold, you’re not alone. In fact, many <a href="https://www.mykcm.com/2022/01/25/the-next-generation-of-homebuyers-is-here/" title="first-time buyers">first-time buyers</a> believe they have to delay their plans. According to <a href="https://cdn.nar.realtor/sites/default/files/documents/2021-the-impact-of-student-loan-debt-report-executive-summary-09-14-2021.pdf" title="data" target="_blank" rel="noopener noreferrer">data</a> from the National Association of Realtors (NAR):
“When asked specifically about purchasing a home, half of nonhomeowners say student loan debt is delaying them from purchasing a home (51%).”
When asked why their student loans are putting their plans on the back burner, three key themes emerged:
47% say their student loans make it harder to save for a <a href="https://www.mykcm.com/2022/01/03/how-much-do-you-need-for-your-down-payment/" title="down payment">down payment</a>
45% say they think they can’t qualify for a <a href="https://www.mykcm.com/2022/01/24/why-pre-approval-is-key-for-homebuyers-in-2022/" title="home loan">home loan</a> because of existing debt
43% say they believe the delay is necessary even though they’ve never <a href="https://www.mykcm.com/2021/12/27/key-things-to-avoid-after-applying-for-a-mortgage/" title="applied">applied</a>for a mortgage
No matter which reason resonates most with you, you should know a delay may not be necessary. Here’s why.
Can you qualify for a home loan if you have student loans?
In the same NAR report, data shows many current homeowners have student loan debt themselves:
“Nearly one-quarter of all home buyers, and 37% of first-time buyers, had student debt, with a typical amount of $30,000.”
That means other people in a similar situation were able to qualify for and <a href="https://www.mykcm.com/2022/01/12/two-ways-homebuyers-can-win-in-todays-market/" title="buy a home">buy a home</a> even though they also had student loan debt. You may be able to do the same, especially if you have a steady source of income. Apartment Therapy <a href="https://www.apartmenttherapy.com/how-to-buy-a-house-with-student-loans-36755886" title="drives" target="_blank" rel="noopener noreferrer">drives</a>this point home:
“. . . buying a home with student loans is possible, experts say. The proof is in the numbers, too: Some 40 percent of first-time homebuyers have student loan debt, according to the NAR study.”
The key takeaway is, for many people, homeownership is achievable even with student loans.
The best way to make a decision about your goals and next steps is to talk to the professionals. A real estate advisor can walk you through your specific situation, your options, and what has worked for other buyers like you. They can also connect you with other professionals in the industry who can help. You don’t have to figure this out on your own – lean on the experts so you have the information you need to make an informed, confident decision.
Bottom Line
Many other buyers with student loan debt are already achieving their homeownership dreams. Maybe it’s time to take the next step toward making yours a reality. Let’s connect to discuss your options and find out how close you are to achieving your goal.
</article>
2022-02-08T06:50:00-07:002022-02-14T08:56:48-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8337Consumers Agree: It’s a Good Time To Sell
<img width="750" height="410" src="https://files.mykcm.com/2022/02/04125433/20220207-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Consumers Agree: It’s a Good Time To Sell | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/02/04125433/20220207-KCM-Share.jpg 750w, https://files.mykcm.com/2022/02/04125433/20220207-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/02/04125433/20220207-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
In today’s sellers’ market, many homeowners are weighing their options and trying to decide if they should sell their house. If you’re in that group, you may be balancing things like the ongoing health crisis, rising mortgage rates, and your own changing needs to determine your best time to make a move.
However, recent data shows that time may already be here. According to the latest <a href="https://www.fanniemae.com/newsroom/fannie-mae-news/softening-hpsi-may-portend-slower-housing-market-2022" title="Home Purchase Sentiment Index" target="_blank" rel="noopener noreferrer">Home Purchase Sentiment Index</a> (HPSI) by Fannie Mae, 76% of consumers believe now is a good <a href="https://www.mykcm.com/2022/01/14/when-is-the-right-time-to-sell-infographic/" title="time to sell">time to sell</a>.
Looking back over the past few years, its clear consumers are incredibly optimistic today. The graph below shows the percent of survey respondents who say it’s a good time to sell a house, and their positive outlook is on the rise. The big dip near the middle of the chart indicates how consumer sentiment about selling dropped at the beginning of the pandemic as uncertainty about the health crisis and its impact grew. The good news is, the trend today shows a continued, drastic improvement, and people are feeling more and more confident with time about selling a home.
In fact, survey respondents think it’s an even better time to sell a house today than they did in the lead-up to the health crisis. The latest survey results indicate we’re at one of the strongest peaks in seller sentiment since March of 2019, hitting highs when 77% of people thought it was a good time to sell only twice before in June and October of 2021.
<a href="https://files.mykcm.com/2022/02/04130946/20220107-MEM-Eng-1.png" target="_blank" rel="" class="use_kcm_lightbox"><img loading="lazy" class="aligncenter wp-image-101015" src="https://files.mykcm.com/2022/02/04130946/20220107-MEM-Eng-1.png" alt="Consumers Agree: It’s a Good Time To Sell | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/02/04130946/20220107-MEM-Eng-1.png 960w, https://files.mykcm.com/2022/02/04130946/20220107-MEM-Eng-1-600x450.png 600w, https://files.mykcm.com/2022/02/04130946/20220107-MEM-Eng-1-768x576.png 768w, https://files.mykcm.com/2022/02/04130946/20220107-MEM-Eng-1-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
Why Are Consumers So Optimistic About Today’s Housing Market?
From record-high <a href="https://www.mykcm.com/2021/12/21/the-average-homeowner-gained-56700-in-equity-over-the-past-year/" title="equity gains">equity gains</a> to record-low <a href="https://www.mykcm.com/2022/01/20/buyers-want-to-know-why-is-housing-supply-still-so-low/" title="housing supply">housing supply</a> and significant <a href="https://www.mykcm.com/2022/01/27/why-right-now-is-a-once-in-a-lifetime-opportunity-for-sellers/" title="buyer demand">buyer demand</a>, homeowners have more motivation than ever to sell. There are more buyers in today’s market than there are homes for sale, and that’s driving home prices up, making it a great time to sell your house.
According to the National Association of Realtors (NAR), the current <a href="https://www.nar.realtor/newsroom/annual-existing-home-sales-hit-highest-mark-since-2006" title="supply of homes" target="_blank" rel="noopener noreferrer">supply of homes</a>for sale today is at a 1.8-month supply, which is an all-time low. When the supply of homes for sale is low, sellers will likely see more offers, which is exactly what’s happening right now. As NAR notes:
“The average home for sale is receiving 3.8 offers today, up from 3.3 offers just one year ago.”
Bottom Line
With the inventory of houses for sale so low today pushing home prices in an upward direction, it’s no wonder consumers think it’s a good time to sell. If you’re ready to take advantage of today’s favorable sellers’ market, let’s connect today.
2022-02-07T06:46:00-07:002022-02-14T08:50:19-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8258How Remote Work Impacts Your Home Search [INFOGRAPHIC]
<img width="1046" height="2435" src="https://files.mykcm.com/2022/02/03134442/20220204-MEM-1046x2435.png" class="attachment-entry size-entry wp-post-image" alt="How Remote Work Impacts Your Home Search [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/02/03134442/20220204-MEM-1046x2435.png 1046w, https://files.mykcm.com/2022/02/03134442/20220204-MEM-258x600.png 258w, https://files.mykcm.com/2022/02/03134442/20220204-MEM-440x1024.png 440w, https://files.mykcm.com/2022/02/03134442/20220204-MEM-768x1788.png 768w, https://files.mykcm.com/2022/02/03134442/20220204-MEM-660x1536.png 660w, https://files.mykcm.com/2022/02/03134442/20220204-MEM-880x2048.png 880w, https://files.mykcm.com/2022/02/03134442/20220204-MEM-100x233.png 100w, https://files.mykcm.com/2022/02/03134442/20220204-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" />
Some Highlights
If your workplace is delaying its <a href="https://www.mykcm.com/2021/09/21/remote-work-is-here-to-stay-can-your-home-deliver-the-space-you-need/" title="return to office">return to office</a> plans or is allowing permanent work from home options, that may open up new possibilities for your <a href="https://www.mykcm.com/2022/01/07/how-to-hit-your-homebuying-goals-this-year-infographic/" title="home search">home search</a>.
Ongoing remote work could give you the chance for a <a href="https://themreport.com/daily-dose/12-01-2021/mixed-bag-2022" title="change in scenery" target="_blank" rel="noopener noreferrer">change in scenery</a>, a move to an area with a lower <a href="https://www.conference-board.org/blog/labor-markets/donut-effect-january-2022?mkt_tok=MjI1LVdCWi0wMjUAAAGB4tUziBA6uXT8VRyChqwzOORkMVvLkP2uxKOyVj-DT-qdhqrMniOE8eh7GcZbHKKe78o6bHFSDpFUIPAlVsDu3P_IVL2hJXgerFqZTC_ihbUn" title="cost of living" target="_blank" rel="noopener noreferrer">cost of living</a>, or finding a home with more <a href="http://info.aia.org/AIArchitect/2021/0910/aia-interactive/index.html#!" title="home office space" target="_blank" rel="noopener noreferrer">home office space</a>.
If you want to learn more about how remote work can give you more options, let’s connect to discuss your situation and priorities for your <a href="https://www.mykcm.com/2022/01/04/avoid-the-rental-trap-in-2022/" title="home search">home search</a>.
2022-02-04T05:56:00-07:002022-02-04T06:59:21-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8217Owning Is More Affordable than Renting in the Majority of the Country
<img width="750" height="410" src="https://files.mykcm.com/2022/01/28134939/20220131-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Owning Is More Affordable than Renting in the Majority of the Country | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/28134939/20220131-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/28134939/20220131-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/28134939/20220131-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
If you were thinking about buying a home this year, but already pressed pause on your plans due to rising <a href="https://www.mykcm.com/2022/01/13/whats-going-to-happen-with-home-prices-this-year/" title="home prices">home prices</a> and increasing <a href="https://www.mykcm.com/2021/11/24/how-smart-buyers-are-approaching-rising-mortgage-rates/" title="mortgage rates">mortgage rates</a>, there’s something you should consider. According to the <a href="https://www.attomdata.com/news/market-trends/home-sales-prices/attom-2022-rental-affordability-report/" title="latest report" target="_blank" rel="noopener noreferrer">latest report</a> from ATTOM Data, owning a home is more affordable than <a href="https://www.mykcm.com/2022/01/04/avoid-the-rental-trap-in-2022" title="renting">renting</a> in the majority of the country. The 2022 Rental Affordability Report says:
“. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion of average local wages than renting.”
Other experts in the industry offer additional perspectives on <a href="https://www.mykcm.com/2021/11/15/4-things-every-renter-needs-to-consider/" title="renting">renting</a> today. In the latest <a href="https://www.corelogic.com/intelligence/single-family-annual-rent-growth-hits-sixth-consecutive-record/" title="Single-Family Rent Index" target="_blank" rel="noopener noreferrer">Single-Family Rent Index</a> from CoreLogic, single-family rent saw the fastest year-over-year growth in over 16 years when comparing data for November each year (see graph below):
<a href="https://files.mykcm.com/2022/01/28134936/20220131-MEM-Eng-1.png" target="_blank" rel="" class="use_kcm_lightbox"><img loading="lazy" class="aligncenter wp-image-100896" src="https://files.mykcm.com/2022/01/28134936/20220131-MEM-Eng-1.png" alt="Owning Is More Affordable than Renting in the Majority of the Country | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/01/28134936/20220131-MEM-Eng-1.png 1000w, https://files.mykcm.com/2022/01/28134936/20220131-MEM-Eng-1-600x450.png 600w, https://files.mykcm.com/2022/01/28134936/20220131-MEM-Eng-1-768x576.png 768w, https://files.mykcm.com/2022/01/28134936/20220131-MEM-Eng-1-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
Molly Boesel, Principal Economist at CoreLogic, stresses the importance of what the data <a href="https://www.corelogic.com/intelligence/single-family-annual-rent-growth-hits-sixth-consecutive-record/" title="shows" target="_blank" rel="noopener noreferrer">shows</a>:
“Single-family rent growth hit its sixth consecutive record high. . . . Annual rent growth . . . was more than three times that of a year earlier. Rent growth should continue to be robust in the near term, especially as the labor market continues to improve.”
What Does This Mean for You?
While it’s true <a href="https://www.mykcm.com/2021/12/15/what-everyone-wants-to-know-will-home-prices-decline-in-2022/" title="home prices">home prices</a> and <a href="https://www.mykcm.com/2021/11/08/two-graphs-that-show-why-you-shouldnt-be-upset-about-3-mortgage-rates/" title="mortgage rates">mortgage rates</a> are rising, so are monthly rents. As a prospective buyer, rising rates and prices shouldn’t be enough to keep you on the sideline, though. As the chart above shows, rents are skyrocketing. The big difference is, when you rent, that rising cost benefits your landlord’s investment strategy, but it doesn’t deliver any sort of return for you.
In contrast, when you buy a home, your monthly mortgage payment serves as a form of forced savings. Over time, as you pay down your loan and as home values rise, you’re building <a href="https://www.mykcm.com/2021/12/21/the-average-homeowner-gained-56700-in-equity-over-the-past-year/" title="equity">equity</a> (and by extension, your own <a href="https://www.mykcm.com/2021/08/30/the-difference-in-net-worth-between-homeowners-and-renters-is-widening/" title="net worth">net worth</a>). Not to mention, you’ll lock in your mortgage payment for the duration of your loan (typically 15 to 30 years) and give yourself a stable and reliable monthly payment.
When asking yourself if you should keep <a href="https://www.mykcm.com/2021/10/01/reasons-renters-buy-infographic/" title="renting">renting</a> or if it’s time to buy, think about what Todd Teta, Chief Product Officer at ATTOM Data, <a href="https://www.attomdata.com/news/market-trends/home-sales-prices/attom-2022-rental-affordability-report/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“. . . Home ownership still remains the more affordable option for average workers in a majority of the country because it still takes up a smaller portion of their pay.”
If buying takes up a smaller portion of your pay and has benefits renting can’t provide, the question really becomes: is renting really worth it?
Bottom Line
If you’re weighing your options between renting and buying, it’s important to look at the full picture. While buying a home can feel like a daunting process, having a trusted advisor on your side is key. Let’s connect to explore your options so you can learn more about the benefits of <a href="https://www.mykcm.com/2022/01/07/how-to-hit-your-homebuying-goals-this-year-infographic/" title="homeownership">homeownership</a> today.
2022-01-31T06:28:00-07:002022-01-31T06:35:15-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8177Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers
<img width="750" height="410" src="https://files.mykcm.com/2022/01/26135026/20220127-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/26135026/20220127-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/26135026/20220127-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/26135026/20220127-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
If you’re thinking about selling your house in 2022, you truly have a once-in-a-lifetime opportunity at your fingertips. When selling anything, you always hope for strong demand for the item coupled with a limited supply. That maximizes your leverage when you’re negotiating the sale. Home sellers are in that exact situation right now. Here’s why.
Demand Is Very Strong
According to the latest <a href="https://www.nar.realtor/newsroom/annual-existing-home-sales-hit-highest-mark-since-2006" title="Existing Home Sales Report" target="_blank" rel="noopener noreferrer">Existing Home Sales Report</a> from the National Association of Realtors (NAR), 6.18 million homes were sold in 2021. This was the largest number of home sales in 15 years. Lawrence Yun, Chief Economist for NAR, explains:
“Sales for the entire year finished strong, reaching the highest annual level since 2006. . . . With mortgage rates expected to rise in 2022, it’s likely that a portion of December buyers were intent on avoiding the inevitable rate increases.”
Demand isn’t expected to weaken this year, either. In addition, the <a href="https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary" title="Mortgage Finance Forecast" target="_blank" rel="noopener noreferrer">Mortgage Finance Forecast</a>, published last week by the Mortgage Bankers’ Association (MBA), calls for existing-home sales to reach 6.4 million homes this year.
Supply Is Very Limited
The same sales report from NAR also reveals the months’ supply of inventory just hit the lowest number of the century. It notes:
“Total housing inventory at the end of December amounted to 910,000 units, down 18% from November and down 14.2% from one year ago (1.06 million). Unsold inventory sits at a 1.8-month supply at the present sales pace, down from 2.1 months in November and from 1.9 months in December 2020.”
The reality is, inventory decreases every year in December. That’s just how the typical seasonal trend goes in real estate. However, the following graph emphasizes how this December was lower than any other December going all the way back to 1999.
<a href="https://files.mykcm.com/2022/01/26135022/20220127-MEM-Eng-1.png" target="_blank" rel="" class="use_kcm_lightbox"><img loading="lazy" class="aligncenter wp-image-100834" src="https://files.mykcm.com/2022/01/26135022/20220127-MEM-Eng-1.png" alt="Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/01/26135022/20220127-MEM-Eng-1.png 1000w, https://files.mykcm.com/2022/01/26135022/20220127-MEM-Eng-1-600x450.png 600w, https://files.mykcm.com/2022/01/26135022/20220127-MEM-Eng-1-768x576.png 768w, https://files.mykcm.com/2022/01/26135022/20220127-MEM-Eng-1-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
Right Now, Sellers Have Maximum Leverage
As mentioned above, when there’s strong demand for an item and a limited supply of it available, the seller has maximum <a href="https://www.mykcm.com/2021/11/02/sellers-have-incredible-leverage-in-todays-market/" title="leverage">leverage</a> in the negotiation. In the case of homeowners who are thinking about selling, there may never be a better time than right now. While demand is this high and <a href="https://www.mykcm.com/2022/01/20/buyers-want-to-know-why-is-housing-supply-still-so-low/" title="inventory">inventory</a> is this low, you’ll have leverage in all aspects of the sale of your house.
Today’s buyers know they need to be <a href="https://www.mykcm.com/2021/12/28/5-tips-for-making-your-best-offer-on-a-home" title="flexible negotiators">flexible negotiators</a> that make very <a href="https://www.mykcm.com/2021/09/27/if-youre-a-buyer-is-offering-asking-price-enough/" title="competitive offers">competitive offers</a>, so here are a few areas that could tip in your favor when your house goes on the market:
Competitive sales price
Flexible closing date
Potential for a leaseback to allow you more time to find a home
Minimal offer contingencies
Bottom Line
If you’re thinking of selling your house this year, now is the optimal time to list it. Let’s connect to discuss how you can put your house on the market today.
2022-01-27T05:56:00-07:002022-01-27T06:58:13-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8176Are You a Homeowner Thinking About Climate Change?<br />
<article id="post-100799" class="post-100799 post type-post status-publish format-standard has-post-thumbnail hentry category-sellers category-housing-market-updates category-move-up-buyers-buyers">
<img width="750" height="410" src="https://files.mykcm.com/2022/01/25155615/20220126-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Are You a Homeowner Thinking About Climate Change? | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/25155615/20220126-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/25155615/20220126-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/25155615/20220126-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
Americans are more aware than ever of the effects climate change and natural disasters can have on their homes. According to a <a href="https://www.realtor.com/news/trends/natural-disasters-affecting-homebuyer-decisions/" title="report" target="_blank" rel="noopener noreferrer">report</a> from realtor.com:
“More than 3 in 4 recent buyers, 78%, took [natural disasters] into account when choosing the locations of their homes, . . .”
The <a href="https://www.realtor.com/research/homeowners-concerned-natural-disasters/" title="study" target="_blank" rel="noopener noreferrer">study</a> also found that many existing homeowners (34%) have already considered selling their houses and moving to a new location because of the changing climate. If you’re like those homeowners and are weighing your options about what to do next, here’s some information to keep in mind as you begin the process of selling your existing house and searching for your new home.
Do Your Research and Work with a Real Estate Advisor To Find a Home That Meets Your Needs
As a homeowner, it’s impossible to control what types of weather events your home is exposed to. As Maiclaire Bolton Smith, Senior Leader of Research and Content Strategy for CoreLogic, <a href="https://www.corelogic.com/intelligence/how-is-climate-change-affecting-real-estate/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“You can’t necessarily remove the location from around you, but there are things you can do to mitigate damage that can happen.”
The first step is understanding how to navigate your home sale and purchase with these specific issues in mind. While that can seem like a difficult undertaking at first, with the appropriate resources and <a href="https://www.mykcm.com/2021/12/30/why-selling-your-house-with-a-real-estate-professional-is-essential/" title="experts">experts</a> on your side, you can simplify the process.
<a href="https://themortgagereports.com/64590/home-buying-during-climate-change-expert-advice-and-climate-change-maps" title="The Mortgage Reports" target="_blank" rel="noopener noreferrer">The Mortgage Reports</a> provides some tips for purchasing your next house, including, but not limited to:
Vetting the location before you buy
Researching Climate Action Plans and learning if the city or state has one
Working with professionals for additional assessments on the home’s ability to withstand natural disasters
Ultimately, your best resource throughout the process is a trusted real estate professional. An agent will help you navigate the sale and required disclosures for your existing home, be your expert advisor on local guidelines and information, and keep your goals and concerns top of mind. Even if your advisor doesn’t have the answers to all your questions about how your next home will stand up to natural disasters, they can help connect you with experts and resources who will.
Bottom Line
If you’re becoming more mindful about the effects of climate change and you’re ready to make a move, you’re not alone. Let’s connect so you have a trusted advisor on your side to help you navigate the sale of your current house and find the perfect spot for your next home.
</article>
2022-01-26T05:53:00-07:002022-01-27T06:55:55-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8152The Next Generation of Homebuyers Is Here
<img width="750" height="410" src="https://files.mykcm.com/2022/01/24121723/20220125-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="The Next Generation of Homebuyers Is Here | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/24121723/20220125-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/24121723/20220125-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/24121723/20220125-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
Many members of Generation Z (Gen Z) are aging into adulthood and deciding whether to <a href="https://www.mykcm.com/2022/01/04/avoid-the-rental-trap-in-2022/" title="rent">rent</a> or buy a home. If you find yourself in this group, it’s important to understand you’re never too young to start thinking about homeownership. The sooner you start planning, the sooner you can move on from renting.
As you set off on your journey and plan your next move, here are a few reasons to think about homebuying this year.
The Reasons Gen Z Want To Become Homeowners
While the majority of Gen Z haven’t entered the housing market yet, a large portion plan to according to a realtor.com <a href="https://www.realtor.com/research/gen-z-values-homeownership/" title="report" target="_blank" rel="noopener noreferrer">report</a>. The report found that 72% of Gen Z would rather purchase a home than rent long-term. As George Ratiu, Manager of Economic Research for realtor.com, <a href="https://themreport.com/daily-dose/06-24-2021/report-shows-gen-z-values-homeownershipyears-301318972.html" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“With nearly three-quarters of those surveyed preferring to buy versus renting long-term, the housing industry should be prepared for millions of Gen Z buyers to bring a new wave of demand along a similar stage-of-life timeline as the millennial generation before them.”
But why do so many members of Gen Z value homeownership? According to the latest <a href="https://cdn.nar.realtor/sites/default/files/documents/2021-home-buyers-and-sellers-generational-trends-03-16-2021.pdf" title="Home Buyers and Sellers Generational Trends Report" target="_blank" rel="noopener noreferrer">Home Buyers and Sellers Generational Trends Report</a> from the National Association of Realtors (NAR), young homebuyers – more than any other age group – want to become homeowners because they want to have a place of their very own.
That may be because one of the biggest <a href="https://www.mykcm.com/2021/12/23/when-a-house-becomes-a-home/" title="benefits">benefits</a> of homeownership is having a place that you can truly make your own by customizing it to your style and personality. Whether that’s the décor, painting, or renovations, when you own your home, you don’t have to limit yourself to what your lease and landlord will allow.
Not to mention, owning a home provides much greater long-term stability and security than <a href="https://www.mykcm.com/2022/01/04/avoid-the-rental-trap-in-2022/" title="renting">renting</a>. When you own a home, there’s also protection from steadily rising rental costs because your monthly mortgage payment is locked in for the length of your loan (typically 15 to 30 years).
Work with a Real Estate Professional To Achieve Your Goals
Whether you’re just getting started on your homebuying journey, you want to learn more about the process, or you’re fully committed to buying your first home this year, it’s especially important to connect with a trusted real estate advisor soon, as you won’t be the only first-time buyer in the market. According to a <a href="https://www.realtor.com/research/first-time-home-buyers-2021/" title="recent survey" target="_blank" rel="noopener noreferrer">recent survey</a>from realtor.com, a majority of first-time buyers surveyed are looking to purchase a home in 2022. As the survey notes:
“First-time home buyers retain their optimism despite a challenging housing market in the past year. Hoping to achieve their goal of homeownership and provide a comfortable space for their families, young buyers are setting out to learn what they can about the market and setting their list of priorities for their home purchase.”
That means you’ll likely face strong competition from other first-time buyers. One way to get a <a href="https://www.mykcm.com/2022/01/12/two-ways-homebuyers-can-win-in-todays-market/" title="leg-up">leg-up</a> on that competition is to work with a real estate <a href="https://www.mykcm.com/2021/11/26/reasons-to-hire-a-real-estate-professional-infographic/" title="professional">professional</a> to make sure you have the support you need to make an informed and confident decision.
Bottom Line
If you’re planning your next move, you’re not alone. Just know it’s never too early to consider the benefits of homeownership over renting. To learn more, let’s connect today so you have a trusted professional on your side to help you explore your options.
2022-01-25T05:59:00-07:002022-01-25T06:07:12-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8131Americans Choose Real Estate as the Best Investment [INFOGRAPHIC]
<img width="1046" height="2199" src="https://files.mykcm.com/2022/01/20142632/20220121-MEM-1046x2199.png" class="attachment-entry size-entry wp-post-image" alt="Americans Choose Real Estate as the Best Investment [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/20142632/20220121-MEM-1046x2199.png 1046w, https://files.mykcm.com/2022/01/20142632/20220121-MEM-285x600.png 285w, https://files.mykcm.com/2022/01/20142632/20220121-MEM-487x1024.png 487w, https://files.mykcm.com/2022/01/20142632/20220121-MEM-768x1615.png 768w, https://files.mykcm.com/2022/01/20142632/20220121-MEM-731x1536.png 731w, https://files.mykcm.com/2022/01/20142632/20220121-MEM-974x2048.png 974w, https://files.mykcm.com/2022/01/20142632/20220121-MEM-100x210.png 100w, https://files.mykcm.com/2022/01/20142632/20220121-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" />
Some Highlights
According to a <a href="https://news.gallup.com/poll/349607/americans-expect-home-prices-rise-divided-buying.aspx" title="Gallup" target="_blank" rel="noopener noreferrer">Gallup</a> poll, real estate has been rated the best long-term investment for eight years in a row.
Real estate tops the list because you’re not just buying a place to call <a href="https://www.mykcm.com/2021/12/23/when-a-house-becomes-a-home/" title="home">home</a> – you’re investing in your future. Real estate is typically considered a stable and secure asset that can <a href="https://www.mykcm.com/2021/12/21/the-average-homeowner-gained-56700-in-equity-over-the-past-year/" title="grow">grow</a> in value over time.
Let’s connect today if you’re ready to make real estate your best investment this year.
2022-01-21T06:58:00-07:002022-01-21T10:14:37-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8118Buyers Want To Know: Why Is Housing Supply Still So Low?
<img width="750" height="410" src="https://files.mykcm.com/2022/01/19111708/20220120-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Buyers Want To Know: Why Is Housing Supply Still So Low? | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/19111708/20220120-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/19111708/20220120-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/19111708/20220120-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
One key question that’s top of mind for homebuyers this year is: why is it so hard to find a house to buy? The truth is, we’re in the ultimate sellers’ market, so real estate is <a href="https://www.mykcm.com/2021/12/28/5-tips-for-making-your-best-offer-on-a-home/" title="ultra-competitive">ultra-competitive</a> for buyers right now. The number of buyers searching for a home greatly outweighs how many homes are available for sale.
While low inventory in the housing market isn’t new, it’s a challenge that continues to grow over time. Here’s a look at two reasons why today’s housing supply is low and what that means for you.
1. New Home Construction Fell Behind for Several Years
The graph below shows <a href="https://www.mykcm.com/2021/12/08/struggling-to-find-a-home-to-buy-new-construction-may-be-an-option/" title="new home construction">new home construction</a> for single-family homes over the past five decades, including the long-term average for housing units completed. Builders exceeded that average during the housing bubble (shown in red on the graph). The result was an oversupply of homes on the market, so home values declined. That was one of the factors that led to the housing crash back in 2008.
Since then, the level of new home construction has fallen off. For the last 13 straight years, builders haven’t been able to construct enough homes to meet the historical average (as illustrated in green on the graph). That underbuilding left us with a multi-year inventory deficit going into the pandemic.
<a href="https://files.mykcm.com/2022/01/19111710/20220120-MEM-Eng-1.png" target="_blank" rel="" class="use_kcm_lightbox"><img loading="lazy" class="aligncenter wp-image-100750" src="https://files.mykcm.com/2022/01/19111710/20220120-MEM-Eng-1.png" alt="Buyers Want To Know: Why Is Housing Supply Still So Low? | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/01/19111710/20220120-MEM-Eng-1.png 1000w, https://files.mykcm.com/2022/01/19111710/20220120-MEM-Eng-1-600x450.png 600w, https://files.mykcm.com/2022/01/19111710/20220120-MEM-Eng-1-768x576.png 768w, https://files.mykcm.com/2022/01/19111710/20220120-MEM-Eng-1-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
2. The Pandemic’s Impact on the Housing Market
Then, when the pandemic hit, it fueled a renewed <a href="https://www.mykcm.com/2021/11/30/home-is-where-the-heart-is-more-than-ever-this-year/" title="appreciation">appreciation</a> and focus on the meaning of home. Having a safe space to live, work, school, and exercise became even more important for Americans throughout the country. So, as mortgage rates dropped to at or below 3%, buyers eagerly entered the market looking to capitalize on those low rates to secure a home that would fulfill their changing needs. At the same time, sellers hesitated to put their houses on the market as concerns about the pandemic mounted.
The result? The number of homes available for sale dropped even further. A recent article from realtor.com <a href="https://www.realtor.com/news/trends/today-housing-market-compared-with-before-covid-19-pandemic/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“Last month, the number of home listings dropped 26.8% compared with the same time a year earlier. This meant there were about 177,000 fewer homes listed in what’s already typically a slower month due to the holidays and colder weather. . . .”
What Does All of This Mean for You?
For a buyer, low inventory can be a challenge. You want to find the home of your dreams, and you don’t want to settle. But what if there just aren’t that many homes to choose from?
There is some good news. Experts are projecting more homes will soon become available thanks to sellers re-entering the market. Danielle Hale, Chief Economist at realtor.com, shares this hope, but offers <a href="https://www.realtor.com/news/trends/today-housing-market-compared-with-before-covid-19-pandemic/" title="perspective" target="_blank" rel="noopener noreferrer">perspective</a>:
“We expect that we’ll start to see a turnaround and inventory will stabilize and start to go up a little bit in 2022. . . . But that means we’re looking at inventory levels of roughly half of what we saw before the pandemic. For buyers, the market is likely to continue to move fast. If you see a home you like, you want to jump on it right away.”
Basically, inventory is still low, even though more homes are coming. But you shouldn’t put your plans on hold because you’re waiting for those additional houses to hit the market. Instead, stick with your search and persevere through today’s low inventory. You can find your next home if you’re patient and focused.
Remember <a href="https://www.mykcm.com/2022/01/07/how-to-hit-your-homebuying-goals-this-year-infographic/" title="your goals">your goals</a> and why finding a home is so important. Those things should be the driving force behind your search. Share them with your agent and be clear about your priorities. Your trusted advisor is your greatest support as you navigate today’s low housing supply to find the home of your dreams.
Bottom Line
If you’re planning to buy this year, the key to success will be patience given today’s low inventory. Let’s connect to discuss what’s happening in our area, what homes are available, and why it’s still worthwhile to prioritize your home search today.
2022-01-20T06:48:00-07:002022-01-20T09:49:07-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8106With Mortgage Rates Climbing, Now’s the Time To Act
<img width="750" height="410" src="https://files.mykcm.com/2022/01/18161955/20220119-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="With Mortgage Rates Climbing, Now’s the Time To Act | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/18161955/20220119-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/18161955/20220119-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/18161955/20220119-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" style="font-size: 17px;" />
Last week, the average 30-year fixed <a href="https://www.mykcm.com/2021/11/24/how-smart-buyers-are-approaching-rising-mortgage-rates/" title="mortgage rate">mortgage rate</a> from Freddie Mac <a href="https://freddiemac.gcs-web.com/node/24636/pdf" title="jumped" target="_blank" rel="noopener noreferrer">jumped</a> from 3.22% to 3.45%. That’s the <a href="http://www.freddiemac.com/pmms/pmms_archives.html" title="highest point" target="_blank" rel="noopener noreferrer">highest point</a> it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates to rise in their 2022 projections, and the forecast is now becoming a reality. Here’s a look at the <a href="http://www.freddiemac.com/research/forecast/20211015_quarterly_economic_forecast.page" title="projections" target="_blank" rel="noopener noreferrer">projections</a> from Freddie Mac for this year:
Q1 2022: 3.4%
Q2 2022: 3.5%
Q3 2022: 3.6%
Q4 2022: 3.7%
As the numbers show, this jump in rates is in line with the expectations from Freddie Mac. And what they also indicate is that mortgage rates are projected to continue climbing throughout the year. But should you be worried about rising <a href="https://www.mykcm.com/2021/11/08/two-graphs-that-show-why-you-shouldnt-be-upset-about-3-mortgage-rates/" title="mortgage rates">mortgage rates</a>? What does that really mean for you?
As rates increase even modestly, they impact your monthly mortgage payment and overall <a href="https://www.mykcm.com/2021/12/09/two-reasons-why-waiting-to-buy-a-home-will-cost-you/" title="affordability">affordability</a>. If you’re looking to buy a home, rising mortgage rates should be an incentive to act sooner rather than later.
The good news is, even though rates are climbing, they’re still worth taking advantage of. Historical data shows that today’s rate, even at 3.45%, is still well below the average for each of the last five decades (see chart below):
<a href="https://files.mykcm.com/2022/01/18161951/20220119-MEM-Eng-1.png" target="_blank" rel="" class="use_kcm_lightbox"><img loading="lazy" class="aligncenter wp-image-100744" src="https://files.mykcm.com/2022/01/18161951/20220119-MEM-Eng-1.png" alt="With Mortgage Rates Climbing, Now’s the Time To Act | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2022/01/18161951/20220119-MEM-Eng-1.png 1000w, https://files.mykcm.com/2022/01/18161951/20220119-MEM-Eng-1-600x450.png 600w, https://files.mykcm.com/2022/01/18161951/20220119-MEM-Eng-1-768x576.png 768w, https://files.mykcm.com/2022/01/18161951/20220119-MEM-Eng-1-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
That means you still have a great opportunity to buy now with a rate that’s better than what your loved ones may have paid in decades past. If you buy a home while rates are in the mid-3s, your monthly mortgage payment will be locked in at that rate for the life of your loan. As you can see from the chart above, a lot can change in that time frame. Buying now is a great way to protect yourself from <a href="https://www.mykcm.com/2022/01/11/why-inflation-shouldnt-stop-you-from-buying-a-home-in-2022/" title="rising costs">rising costs</a>and future rate increases while also securing your payment amount for the long term.
Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), <a href="https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-january-13-2022" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“Mortgage rates surged in the second week of the new year. The 30-year fixed mortgage rate rose to 3.45% from 3.22% the previous week. If inflation continues to grow at the current pace, rates will move up even faster in the following months.”
Bottom Line
Mortgage rates are increasing, and they’re forecast to be even higher by the end of 2022. If you’re planning to buy this year, acting soon may be your most affordable option. Let’s connect to start the homebuying process today.
2022-01-19T06:13:00-07:002022-01-19T10:16:17-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8105Sellers: Don’t Wait Until Spring To Make Your Move
<img width="750" height="410" src="https://files.mykcm.com/2022/01/13152346/20220118-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Sellers: Don’t Wait Until Spring To Make Your Move | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/13152346/20220118-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/13152346/20220118-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/13152346/20220118-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
As you plan out your goals for the <a href="https://www.mykcm.com/2021/12/17/2022-housing-market-forecast-infographic/" title="year">year</a>, moving up to your dream home may top the list. But, how do you know when to make your move? You want to time it just right so you can get the most out of the sale of your current house. You also want to know you’re making a good investment when you buy your new home. What you may not realize is, that opportunity to get the best of both worlds is already here.
You don’t want to wait until spring to spring into action. The current market conditions make <a href="https://www.mykcm.com/2021/12/13/if-you-think-the-housing-market-will-slow-this-winter-think-again/" title="this winter">this winter</a> an ideal time to move. Here’s why.
1. The Number of Homes on the Market Is Still Low
Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market than there are homes available, and that means buyers are eagerly waiting for your house. Listing your house now makes it the center of attention. As a seller, that means when it’s priced correctly, you can expect it to sell quickly and get multiple <a href="https://www.mykcm.com/2021/11/16/sellers-youll-likely-get-multiple-strong-offers-this-season/" title="strong offers">strong offers</a> this season. Just remember, experts project <a href="https://www.mykcm.com/2021/11/18/home-sales-about-to-surge-we-may-see-a-winter-like-never-before/" title="more inventory">more inventory</a> will come to market as we move through the winter months. The realtor.com <a href="https://www.realtor.com/research/2022-national-housing-forecast/" title="2022 forecast" target="_blank" rel="noopener noreferrer">2022 forecast</a> says this:
“After years of declining, the inventory of homes for sale is finally expected to rebound from all-time lows.”
Selling now may help you maximize the return on your investment before your house has to face more competition from other sellers.
2. Your Equity Is Growing in Record Amounts
Current homeowners are sitting on record amounts of <a href="https://www.mykcm.com/2021/12/21/the-average-homeowner-gained-56700-in-equity-over-the-past-year/" title="equity">equity</a> thanks to today’s home price appreciation. According to the <a href="https://www.corelogic.com/intelligence/homeowner-equity-insights/" title="latest report" target="_blank" rel="noopener noreferrer">latest report</a> from CoreLogic, the average homeowner gained $56,700 in equity over the past 12 months.
That much equity can open doors for you to make a move. If you’ve been holding off on selling because you’re worried about how rising prices will impact your own <a href="https://www.mykcm.com/2021/12/08/struggling-to-find-a-home-to-buy-new-construction-may-be-an-option/" title="home search">home search</a>, rest assured your equity can help fuel your next move. It may be just what you need to cover a large portion – if not all – of the <a href="https://www.mykcm.com/2021/12/22/the-perks-of-putting-20-down-on-a-home/" title="down payment">down payment</a> on your next purchase.
3. While Rising, Mortgage Rates Are Still Historically Low
In January of last year, mortgage <a href="http://www.freddiemac.com/pmms/" title="rates" target="_blank" rel="noopener noreferrer">rates</a> hit the lowest point ever recorded. Today, rates are starting to rise, but that doesn’t mean you’ve missed out on locking in a low rate. Current mortgage rates are still far below what they’ve been in <a href="https://www.mykcm.com/2021/11/08/two-graphs-that-show-why-you-shouldnt-be-upset-about-3-mortgage-rates/" title="recent decades">recent decades</a>:
In the 2000s, the average mortgage rate was 6.27%
In the 1990s, the average rate was 8.12%
Even with mortgage rates rising above 3%, they’re still worth taking advantage of. You just want to do so sooner rather than later. Experts are projecting rates will continue to rise throughout this year, and when they do, it’ll <a href="https://www.mykcm.com/2021/11/24/how-smart-buyers-are-approaching-rising-mortgage-rates/" title="cost you more">cost you more</a> to purchase your next home.
4. Home Prices Are Going To Keep Rising with Time
According to industry leaders, <a href="https://www.mykcm.com/2021/12/15/what-everyone-wants-to-know-will-home-prices-decline-in-2022/" title="home prices">home prices</a> will also continue appreciating this year. While experts are forecasting more moderate home price growth than last year, it’s important to note prices will still be moving in an upward direction throughout 2022.
What does that mean for you? If you’re selling so you can move into a bigger home or downsize to the home of your dreams, you want to consider moving now before rates and prices rise further. If you’re ready, you have an opportunity to get ahead of the curve by purchasing your next home before rates and prices climb higher.
Bottom Line
If you’re considering selling to move up or downsize, this may be your moment, especially with today’s low mortgage rates and limited inventory. Let’s connect today to get set up for homebuying success this year.
2022-01-18T06:12:00-07:002022-01-19T10:13:28-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8103When Is the Right Time To Sell [INFOGRAPHIC]
<img width="1046" height="1950" src="https://files.mykcm.com/2022/01/13133345/20220114-MEM-1046x1950.png" class="attachment-entry size-entry wp-post-image" alt="When Is the Right Time To Sell [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/13133345/20220114-MEM-1046x1950.png 1046w, https://files.mykcm.com/2022/01/13133345/20220114-MEM-322x600.png 322w, https://files.mykcm.com/2022/01/13133345/20220114-MEM-549x1024.png 549w, https://files.mykcm.com/2022/01/13133345/20220114-MEM-768x1432.png 768w, https://files.mykcm.com/2022/01/13133345/20220114-MEM-824x1536.png 824w, https://files.mykcm.com/2022/01/13133345/20220114-MEM-1098x2048.png 1098w, https://files.mykcm.com/2022/01/13133345/20220114-MEM-100x186.png 100w, https://files.mykcm.com/2022/01/13133345/20220114-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" />
Some Highlights
If you’re trying to decide when to list your house, the <a href="https://www.mykcm.com/2022/01/05/why-waiting-to-sell-your-house-could-cost-you-a-small-fortune/" title="time is now">time is now</a>. There are plenty of <a href="https://www.mykcm.com/2021/12/16/homebuyers-are-going-on-a-shopping-spree-this-winter/" title="buyers">buyers</a> eagerly waiting for your home to hit the market.
The latest data indicates <a href="https://www.showingtime.com/blog/november-2021-showing-index-results/" title="home showings" target="_blank" rel="noopener noreferrer">home showings</a> are rising. There are more buyers than <a href="https://www.realtor.com/research/december-2021-data/" title="homes for sale" target="_blank" rel="noopener noreferrer">homes for sale</a> right now. That means you’ll likely receive <a href="https://cdn.nar.realtor/sites/default/files/documents/2021-11-realtors-confidence-index-12-22-2021.pdf" title="multiple offers" target="_blank" rel="noopener noreferrer">multiple offers</a>, and your home won’t be on the market long.
Today’s market favors sellers. If you’re ready to move, let’s meet to discuss the benefits you can expect when you sell this season.
2022-01-14T06:06:00-07:002022-01-19T10:09:34-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:8048Two Ways Homebuyers Can Win in Today’s Market
<img width="750" height="410" src="https://files.mykcm.com/2022/01/10141055/20220112-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Two Ways Homebuyers Can Win in Today’s Market | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/10141055/20220112-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/10141055/20220112-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/10141055/20220112-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
If your goal is to purchase a home this year, you might be looking for any advantage you can get in today’s sellers’ market. While competition is still fierce for homebuyers, there are ways you can win and secure the home of your dreams, even in a hot market.
Act Early and Save
The earlier you act this year, the more affordable your purchase will be. That’s because experts project <a href="https://www.mykcm.com/2021/11/03/experts-project-mortgage-rates-will-continue-to-rise-in-2022/" title="mortgage rates">mortgage rates</a> will rise as we move deeper into 2022. According to <a href="http://www.freddiemac.com/research/forecast/index.page" title="Freddie Mac" target="_blank" rel="noopener noreferrer">Freddie Mac</a>, the average 30-year fixed-rate mortgage is expected to be 3.5% by year’s end. Experts forecast <a href="https://www.mykcm.com/2021/12/15/what-everyone-wants-to-know-will-home-prices-decline-in-2022/" title="home prices">home prices</a> will rise as well.
That means the <a href="https://www.mykcm.com/2021/12/09/two-reasons-why-waiting-to-buy-a-home-will-cost-you/" title="longer you wait">longer you wait</a>, the more it will cost you to buy a home. Instead, <a href="https://www.mykcm.com/2021/12/20/homebuyers-be-ready-to-act-this-winter/" title="act early">act early</a>and purchase your home before rates and prices rise further. Not to mention, the sooner you buy, the sooner you can experience the benefits of continued home price appreciation yourself. Once you have your home, you’ll be able to watch its value rise, giving you confidence that your investment is a sound one.
Buy Now, Move Later
Keep in mind, with high <a href="https://www.mykcm.com/2021/12/16/homebuyers-are-going-on-a-shopping-spree-this-winter/" title="buyer demand">buyer demand</a> like we’re seeing today, you’ll be competing against other potential homebuyers, which means you need to find a way to stand out. One way to accomplish this is to negotiate with sellers and present terms that meet their ideal needs. Danielle Hale, Chief Economist for realtor.com, <a href="https://www.yahoo.com/now/realtor-com-forecasts-top-housing-110000093.html" title="explains" target="_blank" rel="noopener noreferrer">explains</a> one lever flexible buyers can pull to entice sellers:
“For buyers with more flexible timelines – such as those making a move from a big city – offering a couple extra months on the closing date could sweeten the deal for sellers who also need to buy their next home.”
In other words, if you’re eager to purchase a home now before it becomes more costly and you don’t have to move right away, you could extend the date of your closing and provide the seller with the time they need to find their next home. That’s a deal that could benefit both parties and help you stand out from the crowd.
Of course, it’s important to work with a <a href="https://www.mykcm.com/2021/11/19/your-journey-to-homeownership-infographic/" title="real estate professional">real estate professional</a> for expert advice on how to make your <a href="https://www.mykcm.com/2021/09/27/if-youre-a-buyer-is-offering-asking-price-enough/" title="best offer">best offer</a>. Your trusted advisor knows what’s working in your market and what may appeal to sellers.
Bottom Line
Experts project home prices and rates will increase in 2022. That means buyers who are ready should act soon and find ways to strengthen their offer to meet sellers’ needs. Let’s connect today to learn how you can win in today’s market.
2022-01-12T06:41:00-07:002022-01-12T06:43:17-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:7908Key Things To Avoid After Applying for a Mortgage
<img width="750" height="410" src="https://files.mykcm.com/2021/12/21112712/20211227-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Key Things To Avoid After Applying for a Mortgage | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2021/12/21112712/20211227-KCM-Share.jpg 750w, https://files.mykcm.com/2021/12/21112712/20211227-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2021/12/21112712/20211227-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan.
Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process.
1. Don’t Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender.
Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.
2. Don’t Make Any Large Purchases Like a New Car or Furniture for Your Home.
New debt comes with new monthly obligations. New obligations create new qualifications. People with new debt have higher debt-to-income ratios. Since higher ratios make for riskier loans, qualified borrowers may end up no longer qualifying for their mortgage.
3. Don’t Co-Sign Other Loans for Anyone.
When you co-sign, you’re obligated. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count the payments against you.
4. Don’t Change Bank Accounts.
Remember, lenders need to source and track your assets. That task is much easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer.
5. Don’t Apply for New Credit.
It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO® score will be impacted. Lower credit scores can determine your interest rate and possibly even your eligibility for approval.
6. Don’t Close Any Credit Accounts.
Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those determinants of your score.
Bottom Line
Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. The best plan is to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.
2021-12-27T06:24:00-07:002021-12-27T07:26:08-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:7897When a House Becomes a Home
<img width="750" height="410" src="https://files.mykcm.com/2021/12/15131434/20211223-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="When a House Becomes a Home | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2021/12/15131434/20211223-KCM-Share.jpg 750w, https://files.mykcm.com/2021/12/15131434/20211223-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2021/12/15131434/20211223-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
It’s clear that owning a home makes <a href="https://www.mykcm.com/2021/12/09/two-reasons-why-waiting-to-buy-a-home-will-cost-you/" title="financial">financial</a> sense. But lately, the <a href="https://www.mykcm.com/2021/11/30/home-is-where-the-heart-is-more-than-ever-this-year/" title="emotional">emotional</a> side of what drives homeownership is becoming increasingly important.
No matter the living space, the feeling of a home means different things to different people. Whether it’s a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why.
1. Owning your home is an accomplishment worth celebrating
You’ve put in a lot of work to achieve the dream of homeownership, and whether it’s your first home or your fifth, congratulations are in order for this milestone. You’ve earned it.
2. There’s no place like home
Owning your own home offers not only safety and security but also a comfortable place where you can simply relax and unwind after a long day. Sometimes that’s just what we need to feel recharged and truly content.
3. You can find more space to meet your needs
Whether you want more room for your changing lifestyle (think: working from home, dedicated space for a hobby, or a personal gym) or you simply prefer to have a large backyard for entertaining, you can invest in a home that truly works for your evolving needs.
4. You have control over renovations, updates, and your style
Looking to try one of those decorative wall treatments you saw on Pinterest? Tired of paying an additional pet deposit for your apartment building? Maybe you want to create an entire in-home yoga studio. You can do all of these things in your own home.
Bottom Line
Whether you’re a first-time homebuyer or a repeat buyer who’s ready to start a new chapter in your life, now is a great time to reflect on the non-financial factors that turn a house into a happy home.
2021-12-23T06:33:00-07:002021-12-23T08:34:51-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:7841Homebuyers Are Going on a Shopping Spree This Winter
<img width="750" height="410" src="https://files.mykcm.com/2021/12/14140358/20211216-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Homebuyers Are Going on a Shopping Spree This Winter | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2021/12/14140358/20211216-KCM-Share.jpg 750w, https://files.mykcm.com/2021/12/14140358/20211216-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2021/12/14140358/20211216-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there’s still a group of buyers that are very active this holiday season – homebuyers.
Experts anticipate the real estate market will see a flurry of activity this winter, and that’s great news for today’s sellers. If you’re planning on listing your home, there’s no need to wait until the spring for better conditions – today’s real estate market is already heating up.
Buyers Have Warmed Up to the Idea of Purchasing This Winter
The past 18 months brought about significant lifestyle changes for many of us, including the rise in <a href="https://www.mykcm.com/2021/09/21/remote-work-is-here-to-stay-can-your-home-deliver-the-space-you-need/" title="remote">remote</a> work, job changes, and even early <a href="https://www.mykcm.com/2021/11/17/retirement-may-be-changing-what-you-need-in-a-home/" title="retirement">retirement</a>for some. For many people, it’s prompting a search for their next home now rather than waiting for warmer months.
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), <a href="https://www.realtor.com/advice/sell/should-you-wait-until-spring-to-sell-your-home-no-way-why-winter-listings-rule-today/" title="points out" target="_blank" rel="noopener noreferrer">points out</a> how this winter may see a significant number of sales:
“Compared to other past winter seasons, this winter season’s sales activity will be stronger. . . . This winter, there will be more sales compared to pre-pandemic winters going back all the way to 2006.”
You might be wondering: what does strong <a href="https://www.mykcm.com/2021/11/18/home-sales-about-to-surge-we-may-see-a-winter-like-never-before/" title="sales activity">sales activity</a> mean for you? It means there are likely to be more buyers active in the market this winter – far more than more normal, pre-pandemic years.
In the same article, Danielle Hale, Chief Economist for realtor.com, puts it in these simple terms:
“Sellers can expect to see plenty of buyers.”
The more buyers there are in the market, the more likely it is your home will get noticed. That can lead to a <a href="https://www.mykcm.com/2021/11/16/sellers-youll-likely-get-multiple-strong-offers-this-season/" title="multiple-offer">multiple-offer</a> scenario or a potential <a href="https://www.mykcm.com/2021/11/02/sellers-have-incredible-leverage-in-todays-market/" title="bidding war">bidding war</a>. Receiving multiple offers on your home means you can select the right offer and terms for your situation – so you can truly win as a seller when you list your house this winter.
Bottom Line
If you’re thinking about selling your house, you don’t need to wait until the spring. Buyers are ready now. Let’s connect to discuss why selling this holiday season could be the gift that keeps on giving.
2021-12-16T06:15:00-07:002021-12-16T08:20:34-07:00Reid Rosenthaltag:reidrosenthalgroup.com,2012-09-20:7812If You Think the Housing Market Will Slow This Winter, Think Again.
<img width="750" height="410" src="https://files.mykcm.com/2021/12/10135057/20211213-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="If You Think the Housing Market Will Slow This Winter, Think Again. | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2021/12/10135057/20211213-KCM-Share.jpg 750w, https://files.mykcm.com/2021/12/10135057/20211213-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2021/12/10135057/20211213-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
From the opportunity to take advantage of today’s low <a href="https://www.mykcm.com/2021/11/08/two-graphs-that-show-why-you-shouldnt-be-upset-about-3-mortgage-rates/" title="mortgage rates">mortgage rates</a> to changing <a href="https://www.mykcm.com/2021/11/30/home-is-where-the-heart-is-more-than-ever-this-year/" title="homeowner needs">homeowner needs</a>, Americans have more <a href="https://www.mykcm.com/2021/11/16/sellers-youll-likely-get-multiple-strong-offers-this-season/" title="motivation">motivation</a> than ever to buy a home. According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year.
As we wrap up the fall season and move into the winter months, here’s a look at what several industry leaders have to say about the continued momentum in the current market, and what it means as we head into the early part of next year.
<a href="https://www.nar.realtor/newsroom/pending-home-sales-jump-7-5-in-october" title="Lawrence Yun, Chief Economist, National Association of Realtors (NAR)" target="_blank" rel="noopener noreferrer">Lawrence Yun, Chief Economist, National Association of Realtors(NAR)</a>
“This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales in 2021 will exceed 6 million, which will shape up to be the best performance in 15 years.”
<a href="https://twitter.com/odetakushi/status/1463521105407266829" title="Odeta Kushi, Deputy Chief Economist, First American" target="_blank" rel="noopener noreferrer">Odeta Kushi, Deputy Chief Economist, First American</a>
“So far in November, purchase applications point to another strong month in sales. Still low rates and demographic demand support this strength, even as affordability and inventory headwinds remain.”
<a href="https://themreport.com/daily-dose/11-19-2021/buyer-peak-levels" title="The M Report" target="_blank" rel="noopener noreferrer">The M Report</a>
“The demand for housing in the United States has reached a fever pitch, a trend that opposes the norm of this time of the year when the market cools as the winter months set in.”
<a href="https://blog.firstam.com/economics/why-housing-market-potential-keeps-rising" title="Mark Fleming, Chief Economist, First American" target="_blank" rel="noopener noreferrer">Mark Fleming, Chief Economist, First American</a>
“Strong demographic demand will continue to act as the wind in the housing market’s sails.”
What does this mean for the winter housing market?
Buyers are actively in the market, and they’re competing for homes to purchase. With the momentum coming out of this fall, all signs point to the winter housing market picking up steam, making it much busier than in a more typical year. And as we’ve seen in so many ways, 2020 and 2021 were anything but typical in real estate. It looks like 2022 may be joining that list before we know it.
Bottom Line
If you think the housing market will slow down this winter, think again. Whether you’re thinking of buying a home, selling your house, or both – let’s connect to determine if this winter is your best time to make a move too.
2021-12-13T06:14:00-07:002021-12-13T11:17:30-07:00Reid Rosenthal