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      Homeowner's Net Worth Is 45x Greater Than A Renter's

      Homeowner’s Net Worth Is 45x Greater Than a Renter’s | MyKCM

      Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

      In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater.

      The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:

      Homeowner’s Net Worth Is 45x Greater Than a Renter’s | MyKCM

      Put Your Housing Cost to Work for You

      As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

      The latest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:

      “Though there will always be a discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”

      Bottom Line

      If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today!

      The Impact Your Interest Rate Has on Purchasing Power

      The Impact Your Interest Rate Has on Your Buying Power [INFOGRAPHIC] | MyKCM

       

       

      Some Highlights:

      • Your monthly housing cost is directly tied to the price of the home you purchase and the interest rate you secure for your mortgage.
      • Over the last 30 years, interest rates have fluctuated greatly with rates in the double digits in the 1980s, all the way down to the near 4% we are experiencing now.
      • Your purchasing power is greatly impacted by the interest rate you secure. Act now before rates go
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      Why You Shouldn't Take Your House Off the Market During the Holidays

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      If you are one of the many homeowners who is debating taking your home off the market for the next few weeks, don’t! You will miss the great opportunity you have right now!

      The latest Existing Home Sales Report from The National Association of Realtors (NAR), revealed that the inventory of homes for sale has dropped to a 4.3-month supply.

      [...]

      Why Waiting Until After the Holidays to Sell Isn't a Smart Decision

      Why Waiting Until After the Holidays to Sell Isn’t a Smart Decision | MyKCM

      Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are six great reasons not to wait:

      1. Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays. 
      1. Purchasers that are looking for a home during the holidays are serious buyers and are ready to buy.
      1. You can restrict the showings on your home to the times you want it shown. You will remain in control.
      1. Homes show better when decorated for the holidays. 
      1. There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year:

      Why Waiting Until After the Holidays to Sell Isn’t a Smart Decision | MyKCM

      1. The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will continue to surge reaching new heights in 2017, which will lessen the demand for your house.

      Bottom Line

      Waiting until after the holidays to sell your home probably doesn't make sense.

      Do You Know the Cost of Renting vs. Buying? [INFOGRAPHIC]

      Some Highlights:

      • Historically, the choice between renting or buying a home has been a close decision.
      • Looking at the percentage of income needed to rent a median priced home today (30%) vs. the percentage needed to buy a median priced home (15%), the choice becomes obvious.
      • Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your
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