Gold Country CA Real Estate Blog and News

The Mortgage Process Doesn't Have To Be Scary [INFOGRAPHIC]

The Mortgage Process Doesn't
Have To Be Scary [INFOGRAPHIC] | MyKCM

Some Highlights

  • Applying for a mortgage is a big step towards homeownership, but it doesn't need to be one you fear. Here are some tips to help you prepare.
  • Know your credit score and work to build strong credit. When you're ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search.
  • Any major life change can be scary, and buying a home is no different. Let's connect so you have an advisor by your side to take the fear out of the equation.

Contact the Gold Country Modern Team, your Amador County real estate connection, for assistance buying or selling a home in the Gold Country.

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It's Still a Sellers' Market [INFOGRAPHIC]

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

Some Highlights

Knowledge Is Power When It Comes to Appraisals and Inspections

Knowledge Is Power When It
Comes to Appraisals and Inspections | MyKCM

Buyers in today's market often have questions about the importance of getting a home appraisal and an inspection. That's because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market.

But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it's critical to keep your best interests in mind. Here's a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road.

Home Appraisal

The home appraisal is a critical step for securing a mortgage on your home. As Home Light explains:

. . . lenders typically require an appraisal to ensure that your loan-to-value...

Looking To Move? It Could Be Time To Build Your Dream Home.

Looking To Move? It Could Be
Time To Build Your Dream Home. | MyKCM

While today's supply of homes for sale is still low, the number of newly built homes is increasing. If you're ready to sell but have held off because you weren't sure you'd be able to find a home to move into, newly built homes and those under construction can provide the options you've been waiting for.

The latest Census data shows the inventory of new homes is increasing this year (see graph below):Looking To Move? It Could Be Time To Build Your Dream Home. | MyKCMWith more new homes coming to the market, this means you'll have more options to choose from if you're ready to buy. Of course, if you do consider a newly built home, you'll want to keep timing in mind. The supply shown in the graph above includes homes at various stages of the construction...

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 ...

111,285 Reasons You Should Buy a Home This Year

111,285 Reasons You Should
Buy a Home This Year | MyKCM

The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner.

According to the latest research from the National Association of Realtors (NAR):

Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time and is built up by price appreciation and paying off the mortgage.

An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down to future generations. The Federal Reserve in an addendum to their Survey of Consumer Finances explains:

There are numerous ways families can transmit wealth and resources across generations. Families can directly transfer their wealth to the next generation in the form of a bequest. They can also provide the next generation with inter vivos transfers (gifts), for example, providing down payment...

Current Homes for Sale
Upcountry
City # Price Range
Pine Grove 15 $345k - $800k
Pioneer 26 $205k - $1.9m
Volcano 9 $360k - $625k
Down Country
City # Price Range
Amador City 3 $500k - $950k
Fiddletown 6 $468k - $849k
Ione 11 $220k - $2.2m
Jackson 16 $399k - $1.3m
Plymouth 3 $775k - $2.7m
Sutter Creek 10 $179k - $2.1m
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