Selling Your Home

If You're Selling Your House This Summer, Hiring a Pro Is Critical

If You're Selling Your House
This Summer, Hiring a Pro Is Critical | MyKCM

It can be tempting, especially with how hot the housing market has been over the past two years, to consider selling your home on your own. But today's market is at a turning point, 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 market trends, 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 mortgage rates, rising ...

Sellers Have an Opportunity with Today's Home Prices

Sellers Have an Opportunity
with Today's Home Prices | MyKCM

As mortgage rates 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 appreciate. The latest data on home prices seems to confirm that trend.

According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:

Sellers Have an Opportunity as Home Prices Re-Accelerate | MyKCMThis is largely due to an ongoing imbalance in ...

What You Need To Know About Selling in a Sellers' Market

What You Need To Know About
Selling in a Sellers' Market | MyKCM

Even if you haven't been following real estate news, you've likely heard about the current sellers' market. That's because there's a lot of talk about how strong market conditions are for people who want to sell their houses. 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 Existing Home Sales Report 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....

Amador County Homeowners: Sell NOW or Wait Until Spring?


The most common question we are hearing from fellow homeowners in Amador County right now is:

Should we wait until Spring to list our Gold Country home for sale? We want to capture the highest sale price possible and we’ve always heard that Spring is the best time to list a home.

This is an excellent question that Amador County homeowners contemplating a sale have been asking us with increased frequency. There has always been a seasonality to our local real estate market and Spring has typically been the best time to list a home for sale—at least in the years before the pandemic-fueled housing boom.

Historically, Spring has been a popular time to sell since buyers tend to come out of winter hibernation and hit the market in droves. Improved weather, combined with school schedules and the absence of major holidays (which inhibit most people from moving due to family obligations), generally means a strong buyer pool which can be advantageous to sellers.

That said, the pandemic has thrown a wrench into the traditional seasonality of the market and the bigger factor we see playing into timing the market right now is inventory. The reason why inventory should play a factor into your consideration of when to list your home for sale is simply a matter of economics. When there are too many qualified buyers chasing too few homes available for sale, it means home prices will continue to rise as long as interest rates (or inventory) don’t get too high.

Interest Rates & Buyer Demand
Mortgage rates remain at historic lows and buyers benefit from these low rates since it gives them more buying power and keeps their monthly housing payment lower. The opposite is also true—the higher a buyer’s mortgage interest rate,...

5 Tips for Making Your Best Offer on a Home

5 Tips for Making Your Best
Offer on a Home | MyKCM

As a buyer in a sellers' market, sometimes it can feel like you're stuck between a rock and a hard place. When you're ready to make an offer on a home, remember these five easy tips to help you rise above the competition.

1. Know Your Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.

Showing sellers you're serious can give you a competitive edge, and it helps you act quickly when you've found your perfect home.

2. Be Ready To Move Fast

Homes are selling quickly in today's competitive housing market. According to the ...

Win When You Sell (And When You Move)

Win When You Sell (And When
You Move) | MyKCM

If you're trying to decide when to sell your house, there may not be a better time than this winter. Selling this season means you can take advantage of today's strong sellers' market when you make a move.

Win When You Sell

Right now, conditions are very favorable for current homeowners looking for a change. If you sell now, here's what you can expect:

  • Your House Will Stand Out – While recent data shows there are more sellers getting ready to list their homes this winter, there are still more buyers in the market than there are homes for sale. If you sell your house now before more houses are listed, it will get more attention from serious buyers who are eager to find a home.
  • Your House Will Likely Get Multiple Offers – When supply is low and demand is high, buyers have to compete with each other for a limited number of homes. The latest ...

Why Now Is a Great Time To Sell Your House

Why Now Is a Great Time To
Sell Your House | MyKCM

As we near the end of the year, more homeowners are realizing the benefits of today's sellers' market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles.

In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means ...

How Sellers Win When Housing Inventory Is Low

How Sellers Win When Housing
Inventory Is Low | MyKCM

In today's housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways today's low inventory will set you up for a win when you sell this season.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the National Association of Realtors (NAR), homes are receiving an average of 3.7 offers in today's market. This buyer competition drives home prices up. As a seller, this certainly works to your advantage,...

Why a Wave of Foreclosures Is Not on the Way

Why a Wave of Foreclosures Is
Not on the Way | MyKCM

With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that won't happen.

There are fewer homeowners in trouble this time

After the last housing crash, about 9.3 million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank.

As stay-at-home orders were issued early last year, the fear was the pandemic would impact the housing industry in a similar way. Many projected up to 30% of all mortgage holders would enter the forbearance program. In reality, only 8.5% actually did, and that number is now down to 2.2%.

As of last Friday, the total number of mortgages still in forbearance stood...

It's Still a Sellers' Market [INFOGRAPHIC]

It's Still a Sellers' Market
[INFOGRAPHIC] | MyKCM

Some Highlights

Sellers: Your House Could Be an Oasis for Buyers Seeking More Options

Sellers: Your House Could Be
an Oasis for Buyers Seeking More Options | MyKCM

Sellers have a great opportunity this season as buyer demand still heavily outweighs the current supply of homes for sale. According to the National Association of Realtors (NAR), today's housing inventory sits at only a 2.6-month supply. To put that into perspective, a neutral market typically features a 6-month supply. That places today's market firmly in the sellers' market category.

That same NAR data also shows today's inventory of single-family homes is trailing behind the level we saw last year (see graph below):Sellers: Your House Could Be an Oasis for Buyers Seeking More Options |
MyKCM Because of the ongoing supply challenges, buyers can feel like they're wandering across a vast, empty desert when searching for their next home. That means your house could provide an oasis for ...

As Home Equity Rises, So Does Your Wealth

As Home Equity Rises, So Does
Your Wealth | MyKCM

Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), it's clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity.

Equity is the difference between what you owe on the home and its market value based on factors like price appreciation.

The best thing about equity is that it often grows without you even realizing it, especially in a ...

Understand Your Options To Avoid Foreclosure

Understand Your Options To
Avoid Foreclosure | MyKCM

Even though experts agree there's no chance of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time (see graph below), that's little comfort to those individuals who are facing challenges today.Understand Your Options To Avoid Foreclosure | MyKCMIf you haven't taken advantage of the forbearance period, it may be time to research and understand your options. It starts with knowing what foreclosure is. Investopedia defines it like this:

...

Home Sellers: There Is an Extra Way To Welcome Home Our Veterans

Home Sellers: There Is an
Extra Way To Welcome Home Our Veterans | MyKCM

Some veterans are finding it difficult to obtain a home in today's market. According to the National Association of Realtors (NAR):

Conventional conforming mortgages (mortgages that conform to guidelines set by Fannie Mae and Freddie Mac), accounted for 74% of mortgages obtained by homebuyers in May 2021, an increase from about 65% during 2018 through 2019…The share of VA-guaranteed loans has also decreased to 7% in May 2021 from about 10% in past years.

Recent data in the latest Origination Insight Report from Ellie Mae sheds light on the continuation of this trend. Below, we can see just how small of a share of total financing VA loans made up in June of 2021, according to that Ellie Mae report:Home
Sellers: There Is an Extra Way To Welcome Home Our Veterans | MyKCM...

A Look at Housing Supply and What It Means for Sellers

A Look at Housing Supply and
What It Means for Sellers | MyKCM

One of the hottest topics of conversation in today's real estate market is the shortage of available homes. Simply put, there are many more potential buyers than there are homes for sale. As a seller, you've likely heard that low supply is good news for you. It means your house will get more attention, and likely, more offers. But as life begins to return to normal, you may be wondering if that's something that will change.

While it may be tempting to blame the pandemic for the current inventory shortage, the pandemic can't take all the credit. While it did make some sellers hold off on listing their houses over the past year, the truth is the low supply of homes was years in the making. Let's take a look at the root cause and what the future holds to uncover why now is still a great time to sell.

Where Did the Shortage Come From?

It's not just today's high buyer demand. Our low supply goes hand-in-hand with the number of new homes built over the past decades. According to Sam Khater, VP and Chief Economist at Freddie Mac:

The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes.

Data in a ...

Save Time and Effort by Selling with an Agent

Save Time and Effort by
Selling with an Agent | MyKCM

Selling a house is a time-consuming process – especially if you decide to do it on your own, known as a For Sale By Owner (FSBO). From conducting market research to reviewing legal documents, handling negotiations, and more, it's an involved and highly detailed process that requires a lot of expertise to navigate effectively. That's one of the reasons why the percentage of people selling their own house has declined from 19% to 8% (See graph below):Save
Time and Effort by Selling with an Agent | MyKCMTo help you understand just how much time and effort it takes to sell on your own, here's a look at a few of the things you need to think about before putting that For Sale sign up in your yard.

1. Making a Good First Impression

While it may sound simple, there are a lot of proven best practices to consider when prepping a house for sale.

  • ...

Don't Wait To Sell Your House

Don't Wait To Sell Your House
| MyKCM

We're in the ultimate sellers' market right now. If you're a homeowner thinking about selling, you have a huge advantage in today's housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move you want to make looks like, here's an overview of what's creating the prime opportunity to sell this summer.

High Buyer Demand

Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered very strong in almost every state. Homebuyers aren't just great in number right now – they're also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequent bidding wars can drive up the price of your house, which is why high demand from competitive homebuyers is such a win for this summer's sellers.

Low Inventory of Houses for Sale

Purchaser demand is so high, the market is running out of available homes for sale. Danielle Hale, Chief Economist at realtor.com, explains:

For most sellers listing sooner...

3 Graphs Showing Why You Should Sell Your House Now

3 Graphs Showing Why You
Should Sell Your House Now | MyKCM

There's no doubt that 2021 is the year of the seller when it comes to the housing market. If you're a homeowner thinking of moving to better suit your changing needs, now is the perfect time to do so. Low mortgage rates are in your favor when you're ready to purchase your dream home, and high buyer demand may give you the leverage you need to negotiate the best contract terms on the sale of your house. Here's a look at what's driving this sellers' advantage and why there's so much opportunity for homeowners who are ready to move this season.

1. Historically Low Inventory

The National Association of Realtors (NAR) explains:

Total housing inventory at the end of March amounted to 1.07 million units, up 3.9% from February’s inventory . . . Unsold inventory sits at a 2.1-month supply at the...

93% of Americans Believe a Home Is a Better Investment Than Stocks

93% of Americans Believe a
Home Is a Better Investment Than Stocks | MyKCM

A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you're wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.

Do Americans believe a home is a better investment than stocks?

In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks.

Here's how the results break down:93%
of Americans Believe a Home Is a Better Investment Than Stocks | MyKCMThe survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer):...

Don't Sell on Your Own Just Because It's a Sellers' Market

Don't Sell on Your Own Just
Because It's a Sellers' Market | MyKCM

In a sellers' market, some homeowners might be tempted to try to sell their house on their own (known as For Sale By Owner, or FSBO) instead of working with a trusted real estate professional. When the inventory of homes for sale is as low as it is today, buyers are eager to snatch up virtually any house that comes to market. This makes it even more tempting to FSBO. As a result, some sellers think selling their house will be a breeze and see today's market as an opportunity to FSBO. Let's unpack why that's a big mistake and may actually cost you more in the long run.

According to the ...

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