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      Blog :: 09-2017

      Why Are So Few Homes for Sale?

      Why Are So Few Homes for Sale? | MyKCM

      There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”

      First American just released the results of a survey which sheds light on the reasons for the current lack of supply.

      [...]

      Home Sales Expected to Increase Nicely in 2018

      Home Sales Expected to Increase Nicely in 2018 | MyKCM

      Home Sales Expected to Increase Nicely in 2018 | MyKCM

      Freddie MacFannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018. Here is a chart showing what each entity is projecting in sales for the remainder of this year and the next.

      Home Sales Expected to Increase Nicely in 2018 | MyKCM

      As we can see, each entity is projecting sizable increases in home sales next year. If you have considered selling your house recently, now may be the time to put it on the market.

      4 Reasons to Buy a Home This Fall!

      4 Reasons to Buy a Home This Fall! | MyKCM

      Here are four great reasons to consider buying a home today, instead of waiting.

      1. Prices Will Continue to Rise

      CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year.

      The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes [...]

      How Your Home's Value Grows Your Family's Wealth

      How Your Home’s Value Grows Your Family’s Wealth | MyKCM

      How Your Home‚??s Value Grows Your Family‚??s Wealth | MyKCM

      Over the next five years, home prices are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

      So, what does this mean for homeowners and their equity position?

      As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?

      How Your Home‚??s Value Grows Your Family‚??s Wealth | MyKCM

      Since the experts predict that home prices will increase by 5.0% this year alone, the young homeowners will have gained $12,500 in equity in just one year.

      Over a five-year period, their equity will increase by nearly $49,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

      Bottom Line

      Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!

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