Gold Country CA Real Estate Blog and News

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 Smart Gold Country Buyers Are Approaching Rising Mortgage Rates

How Smart Buyers Are
Approaching Rising Mortgage Rates | MyKCM

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022:

The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.

If you're thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.

Taking Time Off Can Be Costly

Mortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you're buying a home, directly affecting how much you can afford. And even the smallest increase can have a large impact on your monthly payment (see...

4 Ways Homeowners Can Use Their Equity

4 Ways Homeowners Can Use
Their Equity | MyKCM

Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 in equity over the past year.

If you're looking for the best ways to use your growing equity, here are four options:

1. Use Your Equity To Buy a Home That Fits Your Needs

If you're finding you no longer have the space you need, it might be time to move into a larger home. Or, it's possible you have too much space and would like something ...

VA Loans: Helping Veterans Achieve Their Homeownership Dreams

VA Loans: Helping Veterans
Achieve Their Homeownership Dreams | MyKCM

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program:

The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .

For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes.

2020 Data on VA Home Loans

  • 1,246,817 home loans are guaranteed by the Veterans Administration
  • The average VA loan amount totals $301,044
  • 178,171 of those using a VA Loan are first-time homebuyers

Top Benefits of the VA Home Loan Program

As we reflect on their sacrifice and honor our nation's veterans, it's important to ensure all veterans know the full extent of benefits ...

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...

Renters Missed Out on $51,500 This Past Year

Renters Missed Out on $51,500
This Past Year | MyKCM

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic:

Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.

Looking back, we can see rents rising isn't new. The median rental price has increased consistently over the past 33 years (see graph below):Renters Missed Out on $51,500 This Past Year | MyKCMIf you're thinking of renting for another year, consider that rents will likely be even higher next year. But that alone doesn't paint the picture...

Current Homes for Sale
Upcountry
City # Price Range
Pine Grove 29 $256k - $1.4m
Pioneer 58 $100k - $850k
Volcano 19 $279k - $895k
Down Country
City # Price Range
Fiddletown 6 $414k - $1.7m
Ione 30 $235k - $2.5m
Jackson 22 $150k - $4.0m
Plymouth 8 $389k - $7.2m
River Pines 5 $249k - $365k
Sutter Creek 25 $299k - $2.1m
New Listing

Email Alerts

Subscribe Today!
Have

Questions?

Contact Us Now!