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      Blog :: 01-2019

      Selling Your Home? Make Sure the Price is Right!

      Selling Your Home? Make Sure the Price is Right! | MyKCM

      If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price.

      In today’s shifting real estate market, where more inventory is coming to market and home values are projected to appreciate at lower rates, homeowners will not be able to price their homes as aggressively as they were able to just last year.

      They will have to employ the same strategy: be the closest without going over!

      As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search!

      Over the last six months, more inventory has come to market while the months’ supply of inventory available has dropped. This means that the demand for homes to buy is still very strong throughout the country!

      Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the homes when in reality nothing was wrong, the price was just too high!

      Bottom Line

      If you are thinking about listing your home for sale this year, let’s get together to properly price your home from the start!

      Is the Recent Dip in Interest Rates Here to Stay?

      Is the Recent Dip in Interest Rates Here to Stay? | MyKCM

      Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey.

      After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states,

      “Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”

      In some areas of the country, the combination of rising interest rates and rising home prices had made some first-time buyers push pause on their home searches. But with more inventory coming to market, continued price growth, and interest rates slowing, this is a great time to get back in the market!

      Will This Trend Continue?

      According to the latest forecasts from Fannie Maethe Mortgage Bankers Associationand the National Association of Realtorsmortgage rates will increase over the course of 2019, but not at the same pace they did in 2018. You can see the forecasts broken down by quarter below.

      Is the Recent Dip in Interest Rates Here to Stay? | MyKCM

      Bottom Line

      Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home in 2019 is on your short list of goals to achieve, let’s get together to find out if you are able to today.

      Compass Contemplations for Wednesday

      DID YOU KNOW? Could this be the re-invention of the mall? Google is expanding in L.A. Google has leased the current site of Westside Pavilion shopping mall in West Los Angeles that it will turn into a 584,000 square-foot office campus. Westside Pavilion was once one of the city’s premier shopping venues and a cultural touchstone for generations of LA residents. In recent years the mall fell behind flashier competitors such as the Grove and the refurbished Westfield Century City malls. Online shopping also took a toll, and anchor stores Macy’s and Nordstrom departed.(CNBC)


      DID YOU KNOW? 24% of people surveyed in the USA spent more than 80% of their time working remotely in 2012. That grew to 31% by 2016. (Gallup)

      DID YOU KNOW?  What is the most in-demand soft skill of 2019? Creativity. For those looking to cultivate this skill, LinkedIn recommends the following courses: Creativity Bootcamp, The Five-Step Creative Process, and Creativity: Generate Ideas in Greater Quantity and Quality. (Linkedin)

      DID YOU KNOW?  While Tesla weathers relentless roller-coaster press, it sold nearly as many of its vehicles in 2018 (over 245,000) than it did in every prior year combined, back to 2003. The Tesla 3 was the best-selling luxury car of 2018 (145,846 units). Next was the Lexus RX (111,641 units). While the Model 3 was supposed to be the 'mass-market' affordable model, at $45,000 it is far from that. The more affordable (35k) version comes soon.....which could boost sales significantly further. (CNBC)

      DID YOU KNOW? U.S. carbon emissions rose 3.4% in 2018, after 3 years of declines. The effects of a strong economy outstripped a sharp decline in the number of power plants burning coal to generate electricity. Carbon emissions were still down 11.2% from 2005 levels. Diesel and jet fuel use rose 3% from additional trucking and air traffic. The Paris agreement target to reduce all greenhouse-gas emissions by 26%-28% from 2005 levels by 2025, requires the U.S. to cut emissions by 2.6% on average over the next 7 years. (WSJ)

      DID YOU KNOW? In San Jose (CA), nearly half (49.3%) of all housing sales involve co-buyers as of the 2nd quarter of 2018. Other cities where 25% or more sales involve multiple buyers include San Francisco, Honolulu, Seattle, Miami, Boston and Durham, N.C. 26.2% of FHA-insured mortgage borrowers received assistance from a family member to afford the down payment, up from 22% in 2011. (Marketwatch)
       

      Top Renovations to Complete Before You Sell Your House

      Top Renovations to Complete Before You Sell Your House [INFOGRAPHIC] | MyKCM

      Some Highlights:

      • If you are planning on listing your house for sale this year, here are the top four home improvement projects that will net you the most Return on Investment (ROI).
      • Minor bathroom renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
      • Upgrading your landscaping or curb appeal helps get buyers in the door. These upgrades rank as the 2nd and 4th best renovations for returns on investment.
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