Selling Your Home

What Homeowners Want To Know About Selling in Today's Market

If you're thinking about selling your house, you're likely hearing about the cooling housing market and wondering what that means for you. While it’s not the peak intensity we saw during the pandemic, we're still in a sellers' market. That means you haven't missed your window. Realtor.com explains:

. . . while prospective home sellers may lament that they missed their prime window, in reality, this is still a terrific time to sell. In fact, according to a recent Realtor.com® home seller survey, 95% of sellers who sold their home in the past year got more than they paid for it.

Nonetheless, some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.

The key to success today is being realistic and working with a trusted real estate advisor who can help you set your expectations based on where the market is now, not where it was over the past few years.

Here are a few things experts say today's sellers need to consider.

Be Willing To Negotiate

At the peak of the pandemic frenzy, sellers held all the leverage because inventory was at record lows and buyers were willing to enter bidding wars over homes that were available. This year, the supply of homes for sale has increased as the market cooled. Even though inventory is still low overall, buyers today have more options, and with that comes more negotiation power.

As a seller, that means you may see more buyers getting an inspection, requesting repairs, or asking for help with closing costs today. You need to be prepared to have those conversations. As Ali Wolf, Chief Economist at Zonda, says:

Today's market is different than it was just six months...

Sell Your Amador County Home Before the Holidays

Sell Your House Before the
Holidays | MyKCM

As you look ahead to the winter season, you're likely making plans and thinking about what you want to achieve before the year ends. One of those key decision points could be whether or not you want to move this year. If the location or size of your current home no longer meets your needs, finding a house that better suits your lifestyle may be a top priority for you. But with today's cooling housing market, is it really a good time to sell your house, or should you wait?

If you're ready to make your decision, here are three reasons you may want to consider selling before the holidays.

1. Get One Step Ahead of Other Sellers

Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end of the year. That's because people get busy around the holidays and deprioritize selling their house until the start of the new year when their schedules and social calendars calm down.

Selling now, while other homeowners may hold off until after the holidays, can help your house stand out. Start the process with a real estate professional today so you can get your house on the market and get ahead of your competition.

2. Get in Front of Serious Buyers This Season

Even though housing supply has increased this year as buyer demand has moderated, it's still low overall. That means there aren't enough homes on the market today, especially as the millennial generation reaches their peak homebuying years. As Mark...

Should I Sell My House This Year?

Should I Sell My House This
Year? | MyKCM

There's no denying the housing market is undergoing a shift 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. Housing inventory 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 more options 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 ...

How Owning a Home Builds Your Net Worth

How Owning a Home Builds Your
Net Worth | MyKCM

Owning a home is a major financial milestone and an achievement to take pride in. One major reason: the equity you build as a homeowner gives your net worth a big boost. And with high inflation right now, the link between owning your home and building your wealth is especially important.

If you're looking to increase your financial security, here's why now could be a good time to start on your journey toward homeownership.

Owning a Home Is a Key Ingredient for Financial Success

A report from the National Association of Realtors (NAR) details several homeownership trends, including a significant gap in net worth between homeowners and renters. It finds:

. . . the net worth of a homeowner was about $300,000 while that of a renter's was $8,000 in 2021.

To put that into perspective, the average homeowner's net worth is roughly 40 times that of a renter's. This difference shows owning a home is a key step in achieving financial success.

Equity Gains Can Substantially Boost a Homeowner's Net Worth

The net worth gap between owners and renters exists in large part because homeowners...

How Your Equity Can Grow over Time

How Your Equity Can Grow over
Time | MyKCM

It's true that record levels of home price appreciation have spurred significant equity gains for homeowners over the past few years. As Diana Olick, Real Estate Correspondent at CNBC, says:

The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth.

That's great for your home's value over the last couple of years, but what if you've lived in your home for longer than that? You may be wondering how much equity you truly have.

The National Association of Realtors (NAR) has done a study to calculate the typical equity gains over longer spans of time. The data they compiled could be enough to motivate you...

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, the higher...

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, potentially...

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 at 1,221,000...

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 ...

Current Homes for Sale
Upcountry
City # Price Range
Pine Grove 18 $280k - $1.2m
Pioneer 38 $148k - $835k
Volcano 13 $400k - $1.4m
Down Country
City # Price Range
Fiddletown 6 $225k - $1.6m
Ione 31 $200k - $2.7m
Jackson 23 $345k - $4.0m
Plymouth 8 $329k - $2.5m
River Pines 2 $279k - $365k
Sutter Creek 24 $125k - $2.1m
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