<![CDATA[Hunziker Realty Blog]]> <![CDATA[Tips on Reaching Your Home Buying Goals of 2025]]>

Many hopeful homebuyers are setting their sights on purchasing a home this year. Whether you're a first-time buyer or looking to upgrade, having a strategic plan in place can make the process smoother and more successful. Here are some key tips to help you achieve your home buying goals in 2025.

  1. Define Your Home Buying Goals

Before you start searching for homes, take the time to clarify your needs and wants. Consider factors like location, home size, budget, and must-have features. Having a clear vision will help streamline your search and prevent unnecessary detours.

  1. Check Your Credit Score and Finances

Your credit score plays a crucial role in determining your mortgage eligibility and interest rate. Check your credit score early, pay down debt, and avoid taking on new credit obligations before applying for a loan. Additionally, save for a down payment and closing costs to be financially prepared.

  1. Get Pre-Approved for a Mortgage

A mortgage pre-approval gives you a clear idea of your budget and shows sellers that you're a serious buyer. Work with a lender to explore different loan options and secure the best financing for your situation.

  1. Research the Market Trends

The real estate market is constantly evolving, and 2025 will be no exception. Stay informed about home prices, interest rates, and market conditions in your desired area. This knowledge will help you make smart decisions and identify the right time to buy.

  1. Work with a Knowledgeable Real Estate Agent

A real estate professional can provide valuable insights, negotiate on your behalf, and guide you through the entire homebuying process. Their expertise can be especially helpful in competitive markets.

  1. Be Prepared to Act Quickly

The housing market can move fast, and desirable properties may not stay available for long. Once you find a home that meets your criteria, be ready to make an offer promptly while staying within your budget.

  1. Plan for Additional Costs

Beyond the down payment and mortgage, consider other expenses such as property taxes, insurance, home maintenance, and potential renovations. Planning for these costs will help you avoid financial surprises after closing.

  1. Stay Flexible and Patient

The homebuying process can sometimes be unpredictable. Stay flexible with your expectations and be patient while waiting for the right opportunity. A well-thought-out approach will lead to a more rewarding home purchase.

Achieving your home buying goals in 2025 requires preparation, research, and the right support system. By following these tips and working with trusted professionals, you can navigate the market with confidence and find the perfect home for your needs. If you're ready to take the next step, reach out to one of our real estate experts who can help you turn your homeownership dreams into reality. Contact us today and we'll help you achieve your home buying goals!

]]> <![CDATA[Eco-Friendly Home Improvements That Attract Buyers]]>

As sustainability becomes a growing priority for homeowners and buyers alike, eco-friendly home improvements are gaining popularity. Not only do these upgrades reduce energy costs and environmental impact, but they also make properties more attractive to potential buyers. Here are some of the best eco-friendly improvements that can increase your home's value and market appeal.

  1. Energy-Efficient Windows and Doors

Replacing old windows and doors with energy-efficient models can significantly reduce heating and cooling costs. Double- or triple-pane glass with proper insulation helps maintain indoor temperatures, making homes more energy-efficient and comfortable year-round.

  1. Solar Panels for Renewable Energy

Solar panels are one of the most sought-after green home improvements. While the upfront investment can be substantial, many buyers are drawn to homes with existing solar energy systems due to long-term savings on electricity bills and potential tax incentives.

  1. Smart Home Energy Systems

Smart thermostats, energy-efficient appliances, and automated lighting systems help homeowners monitor and control energy usage. These features not only reduce utility bills but also enhance convenience, making a home more appealing to tech-savvy buyers.

  1. Water-Saving Fixtures

Low-flow toilets, faucets, and showerheads conserve water without sacrificing performance, helping homeowners reduce utility costs while maintaining comfort.

  1. Energy-Efficient Lighting

Switching to LED lighting throughout the home is a simple yet effective way to improve energy efficiency. LEDs use significantly less electricity than traditional bulbs and last much longer, offering buyers an easy and cost-effective upgrade.

  1. Green Certifications and Energy Audits

Having an energy audit conducted before listing your home can highlight efficiency improvements and reassure buyers of potential savings. Homes with green certifications, such as ENERGY STAR or LEED, are often more attractive to eco-conscious buyers looking for sustainable living options.

Eco-friendly home improvements not only reduce your carbon footprint but also make your property more appealing to today's environmentally conscious buyers. By investing in energy-efficient features, smart home technology, and sustainable materials, you can enhance your home's market value while contributing to a greener future. If you're planning to sell, these upgrades could give your home the competitive edge it needs in today's real estate market.

]]> <![CDATA[5 Reasons Why Central Iowa Is a Great Place to Buy a Home]]>

When it comes to finding the perfect place to call home, Central Iowa has so much to offer. Whether you're looking for a family-friendly neighborhood, a vibrant community, or access to nature, this area checks all the boxes. Here are five reasons why buying a home in Central Iowa is a decision you won't regret.

  1. Strong and Stable Housing Market

Central Iowa boasts a stable housing market with competitive prices compared to other parts of the country. This makes it a great investment for first-time buyers and seasoned homeowners alike. With mortgage rates fluctuating, now is a great time to consult with a REALTOR® to secure your dream home.

  1. Family-Friendly Communities

Central Iowa is home to safe, welcoming neighborhoods with excellent schools, parks, and recreational facilities. Whether it's Ames, Boone, Ankeny, you'll find communities designed with families in mind. With amenities like walking trails and community events, there's always something for everyone to enjoy.

  1. Thriving Job Market

Central Iowa continues to attract businesses and entrepreneurs, creating a thriving job market. From tech startups to established industries, job opportunities abound, making it a great place to live and work. A strong job market also supports long-term home value growth.

  1. Easy Access to Outdoor Activities

Love the outdoors? Central Iowa won't disappoint! Enjoy boating or fishing at Ada Hayden Heritage Park Lake, explore the scenic High Trestle Trail, or relax in the many state parks nearby. With so many options for outdoor adventures, your weekends will never be boring.

  1. Local Charm and Culture

Central Iowa is rich in history and charm. Explore farmers' markets, local festivals, and unique dining options that showcase the area's vibrant culture. Plus, living in Central Iowa puts you within reach of Ames, home to Iowa State University, offering sporting events, cultural performances, and more.

Ready to Find Your Dream Home in Central Iowa?

Hunziker & Associates, REALTORS®, has been helping families like yours find their perfect home for decades. With our local expertise and personalized service, we're here to guide you every step of the way. Contact us today to get started on your home-buying journey!

]]> <![CDATA[Why Falling Mortgage Rates Make Now the Perfect Time to Buy a Home]]>

Why Falling Mortgage Rates Make Now the Perfect Time to Buy a Home

If you've been thinking about buying a home, the current market conditions present a unique opportunity. Falling mortgage rates have been making headlines, and while this may seem like just another economic indicator, it directly impacts you as a potential homebuyer. Lower rates mean more buying power, less interest paid over the life of the loan, and a greater selection of homes in your price range. Here's why now could be the best time to take the plunge into homeownership.

  1. Increased Purchasing Power

Mortgage rates may seem like small percentages, but they can have a huge impact on your monthly payment. For example, a 1% drop in rates could save you hundreds of dollars each month, allowing you to afford more home for the same budget. With lower interest rates, the amount you can borrow increases, giving you access to homes that might have been just out of reach.

  1. Lower Monthly Payments

The most immediate benefit of falling rates is a decrease in your monthly payment. Whether you're a first-time buyer or looking to upgrade, these lower payments can ease the financial burden of homeownership. Imagine locking in a low rate now and enjoying years of savings compared to what you would have paid when rates were higher.

  1. Less Interest Paid Over Time

With lower mortgage rates, the overall cost of your home will decrease because you'll pay less interest over the life of the loan. Even a small reduction in interest rates can mean tens of thousands of dollars saved over 30 years. This means you keep more money in your pocket and build equity in your home faster.

  1. Refinancing Options

If you already own a home, falling mortgage rates can still benefit you through refinancing. Refinancing allows you to adjust the terms of your current mortgage to take advantage of lower rates. This can lead to reduced payments or allow you to pay off your loan sooner.

  1. Market Timing

Historically, falling mortgage rates have been followed by increased demand in the housing market. With more buyers entering the market, home prices often rise. Buying now allows you to capitalize on the lower rates before competition drives prices up. This makes it an ideal time to secure a good deal and potentially see an increase in your home's value over time.

  1. Lock in a Fixed Rate

One of the best things you can do during a period of falling mortgage rates is lock in a fixed-rate mortgage. This ensures that you won't be affected by potential future rate increases. With the uncertainty in global markets and inflationary pressures, locking in a low rate now can safeguard your investment for the long term.

  1. Take Advantage of Government Incentives

Many governments offer incentives for first-time homebuyers, and with lower rates, you may be able to benefit from these programs even more. Whether it's a reduction in your down payment requirement or tax incentives, now is an ideal time to explore your options with a qualified mortgage broker or real estate agent.

    Falling mortgage rates represent a rare opportunity to maximize your homebuying potential. With increased purchasing power, lower payments, and long-term savings, there's never been a better time to explore your options. Whether you're a first-time buyer or looking to upgrade, take advantage of the current market conditions and start your journey toward homeownership today.

    Contact us and we'll show you how the recent decline may help you get a better monthly payment than you'd expect.

    ]]>     <![CDATA[Why You Should Hire a REALTOR®]]>

    Buying or selling a home is one of the most significant financial decisions you'll make in your life. With so much at stake, it's essential to have the right guidance. While some may consider going the DIY route to save on commissions, hiring a REALTOR® can make a world of difference in terms of time, stress, and money. Here's why choosing a professional to help you navigate the real estate market is a smart decision.

    1. Market Expertise You Can Rely On

    REALTORS® have a deep understanding of the local housing market. They know the neighborhoods, current trends, and the factors that influence home prices. Whether you're a buyer or a seller, this market insight is invaluable. For buyers, REALTORS® help you avoid overpaying by providing comparative market analyses (CMAs). For sellers, they assist with pricing your home correctly from the start, avoiding the risk of your home lingering on the market for too long.

    1. Access to Exclusive Listings

    REALTORS® have access to the Multiple Listing Service (MLS), a comprehensive database of homes for sale that isn't fully available to the public. As a buyer, this gives you access to the most current listings, including homes that may not even be advertised online yet. On the selling side, a REALTOR® ensures your property gets the most visibility by listing it across all the right platforms, increasing the chances of a quick sale.

    1. Negotiation Skills to Save You Money

    One of the most challenging aspects of buying or selling a home is negotiating. Real estate transactions involve complex negotiations, and emotions can often cloud judgment. A seasoned REALTOR® acts as a buffer and brings a clear-headed approach to negotiations. They'll ensure you get the best price possible, whether you're buying your dream home or selling your property for top dollar.

    1. Handling the Paperwork

    Real estate transactions involve a mountain of paperwork. Purchase agreements, disclosures, and inspection reports are just the tip of the iceberg. Missteps in the paperwork can lead to costly delays or even legal issues. REALTORS® know exactly how to navigate these documents, ensuring everything is completed correctly and on time.

    1. Connections to Trusted Professionals

    When buying or selling a home, you'll need a network of other professionals, such as home inspectors, appraisers, contractors, and lenders. REALTORS® have built relationships with trusted professionals in the industry, ensuring you get reliable services at every step of the process. If you're unsure of who to trust, your REALTOR® can make valuable recommendations.

    1. Professional Marketing Strategies

    If you're selling your home, proper marketing is essential. REALTORS® use a variety of strategies, from professional photography and virtual tours to social media and open houses, to get your home in front of the right buyers. They know how to highlight the best features of your home and present it in the best possible light, attracting more potential buyers and helping you sell faster.

    1. Avoid Costly Mistakes

    Buying or selling a home without the expertise of a REALTOR® can lead to costly mistakes. Overpricing or underpricing a home, misinterpreting market trends, or missing out on crucial legal requirements can cost you time and money. REALTORS® provide expert advice, reducing the risk of making these kinds of errors.

    1. Peace of Mind Throughout the Process

    Navigating the real estate market on your own can be overwhelming. A REALTOR® takes much of the stress out of the process, handling everything from market research to paperwork and negotiations. They're there to answer your questions and address any concerns, ensuring a smooth experience from start to finish.

    While it might be tempting to try buying or selling a home on your own, hiring a REALTOR® ensures you get expert advice, avoid common pitfalls, and secure the best deal possible. Whether you're a first-time homebuyer or a seasoned seller, working with a professional provides peace of mind and saves time, energy, and often money. After all, having an experienced REALTOR® in your corner means you're not just navigating the real estate market—you're mastering it.

    If you're ready to buy or sell, reach out to one of our trusted REALTORS® to help guide you through the process with confidence and ease.

    ]]>     <![CDATA[How to Prepare Your Home for a Successful Sale]]>

    Selling your home is a significant milestone, and getting the best price requires thoughtful preparation. A well-presented home not only attracts more potential buyers but also ensures a quicker sale at a higher price. Here's a guide on how to prepare your home for a successful sale by focusing on decluttering, staging, and minor renovations.

    1. Declutter for a Fresh Start

    Why Decluttering Matters
    When buyers walk into a home, they need to envision themselves living there. Personal items, excess furniture, and clutter can distract from the home's features and make spaces feel smaller. A decluttered home, on the other hand, feels more open, clean, and inviting.

    How to Declutter Effectively

    • Start Small: Begin with one room at a time to avoid feeling overwhelmed.
    • Sort Items: Create three categories—Keep, Donate/Sell, and Store. Items you wish to keep but don't need right now should be packed away.
    • Minimize Personal Items: Remove family photos, memorabilia, and personal collections. These can make it difficult for buyers to imagine the space as their own.
    • Streamline Furniture: Less is more. Remove bulky furniture to make rooms appear larger and more functional.

    2. Hire a Realtor for Expert Guidance

    Why Hiring a Realtor is Crucial
    Realtors are immersed in the real estate market every day, making them invaluable when it comes to selling your home. They can offer expert advice on several key areas that can greatly impact the sale of your home:

    • Staging: Many realtors work with professional stagers and can offer free consultations to help you present your home in the best light.
    • Repairs: Realtors know what repairs are necessary to make your home sell-worthy, helping you avoid spending on unnecessary fixes.
    • Paint: They can advise on which walls need to be neutralized to appeal to a broader audience, ensuring your home looks fresh and inviting to potential buyers.

    Hiring a realtor can save you time and stress, providing you with the professional guidance needed to make informed decisions throughout the selling process.

    3. Stage Your Home to Highlight Its Best Features

    Why Staging is Important
    Staging is the art of arranging furniture and decor to enhance a home's appeal. It helps potential buyers visualize how the space can be used and highlights the property's strengths.

    Tips for Effective Staging

    • Neutralize the Color Palette: Use neutral colors for walls, bedding, and furniture to appeal to a broad range of tastes.
    • Focus on Key Areas: Pay special attention to the living room, kitchen, and master bedroom. These are the areas buyers tend to focus on the most.
    • Add Inviting Touches: Fresh flowers, cozy throws, and stylish cushions can make a room feel warm and welcoming.
    • Maximize Natural Light: Open curtains and blinds to let in as much natural light as possible. Bright, well-lit rooms feel more spacious and appealing.

    4. Consider Minor Renovations for Maximum Impact

    Why Minor Renovations Can Pay Off
    Small updates can make a big difference in how your home is perceived. While you may not want to invest in major renovations, certain upgrades can significantly increase your home's value and appeal.

    Key Renovations to Consider

    • Paint: A fresh coat of paint in a neutral color can make your home look new and well-maintained.
    • Update Fixtures: Replacing outdated light fixtures, cabinet hardware, and faucets can give your home a modern look without breaking the bank.
    • Curb Appeal: First impressions matter. Consider simple landscaping, a new front door, or even just a fresh doormat to enhance your home's exterior.
    • Kitchen and Bathroom Touch-Ups: If your budget allows, updating countertops, re-grouting tiles, or adding a modern backsplash in the kitchen can yield a high return on investment.

    5. Final Touches Before Listing

    Clean Thoroughly
    A deep clean is essential before showing your home. Pay attention to windows, carpets, and less obvious areas like baseboards and ceiling fans. A spotless home suggests that it has been well cared for.

    Depersonalize and Neutralize
    Ensure that your home appeals to as many potential buyers as possible by keeping decor neutral and removing any items that are too personal or specific to your taste.

    Hire a Professional Photographer
    High-quality photos are crucial in today's digital marketplace, where most buyers start their search online. Realtors typically cover the cost of professional photography, including 3D tours and videos, to showcase your home in the best possible light. These visual tools can make a significant difference in attracting potential buyers and making your home stand out in a crowded market.

    Preparing your home for sale is a strategic process that can greatly impact the final sale price. By decluttering, staging, and making minor renovations, you can maximize your home's appeal and attract serious buyers. Remember, the goal is to present a space where potential buyers can imagine themselves living, which will ultimately lead to a successful sale.

    ]]>     <![CDATA[The Ultimate Guide to First-Time Home Buying]]>

    Buying your first home is one of the most exciting milestones in life, but it can also be overwhelming. With so many steps, decisions, and financial commitments involved, it's essential to be well-prepared. This ultimate guide will walk you through everything you need to know as a first-time homebuyer—from getting pre-approved for a mortgage to closing on your home.

    1. Assess Your Financial Situation

    Before diving into the home buying process, take a close look at your financial health. Consider the following:

    • Credit Score: Your credit score plays a significant role in determining your mortgage rate. Check your score and take steps to improve it if necessary.
    • Savings: Ensure you have enough saved for a down payment (typically 3-20% of the home price) and other expenses like closing costs, moving, and emergency funds.
    • Debt-to-Income Ratio: Lenders will look at your debt-to-income ratio (DTI) to assess your ability to manage monthly payments. Aim for a DTI of 43% or lower.

    2. Obtaining a Pre-Approval Letter for a Mortgage

    Obtaining a pre-approval letter for a mortgage is a crucial step that shows sellers you're serious and financially capable of buying a home. During this process:

    • Choose a Lender: Shop around for a lender that offers competitive rates and favorable terms.
    • Submit Documentation: Be prepared to provide financial documents such as tax returns, pay stubs, and bank statements.
    • Understand Loan Options: Learn about different mortgage types, such as fixed-rate, adjustable-rate, FHA loans, and VA loans, to determine which is best for you.

    3. Determine Your Budget

    With your pre-approval in hand, establish a realistic budget for your home purchase. Consider:

    • Monthly Payments: Calculate what you can afford in terms of mortgage payments, property taxes, insurance, and maintenance.
    • Down Payment: Decide how much you can put down. A larger down payment can reduce your monthly payments and potentially eliminate the need for private mortgage insurance (PMI).
    • Additional Costs: Factor in closing costs, which typically range from 2-5% of the home price, as well as moving expenses and any immediate repairs or upgrades.

    4. Start House Hunting

    Now comes the fun part—searching for your dream home! Keep the following tips in mind:

    • Create a Wish List: Prioritize your needs versus wants. Consider factors like location, size, layout, and amenities.
    • Hire a Real Estate Agent: A knowledgeable agent can help you navigate the market, negotiate offers, and handle paperwork.
    • Visit Multiple Properties: Don't settle for the first house you see. Visit multiple homes to compare options and get a feel for the market.

    5. Make an Offer

    Once you've found the perfect home, it's time to make an offer. Here's how:

    • Work with Your Agent: Your real estate agent will help you craft a competitive offer based on market conditions, the property's value, and your budget.
    • Negotiate Terms: Be prepared to negotiate with the seller on price, closing date, and any contingencies, such as repairs or inspections.
    • Submit Earnest Money: You'll need to provide earnest money as a deposit to show your commitment. This amount is negotiable and can vary widely, typically between $500 and 1% of the purchase price.

    6. Conduct Inspections and Appraisals

    Before proceeding toward closing, it's important to conduct a thorough inspection and appraisal of the property:

    • Home Inspection: Hire a professional inspector to assess the property's condition and identify any potential issues. Use the findings to negotiate repairs or price adjustments if necessary.
    • Appraisal: Your lender will order an appraisal to determine the home's market value. This ensures you're not overpaying and helps secure your mortgage.

    7. Secure Your Financing

    With the inspection and appraisal complete, it's time to finalize your mortgage:

    • Lock in Your Rate: Choose to lock in your interest rate if you haven't already. This protects you from potential rate increases before closing.
    • Review Loan Terms: Carefully review your loan terms, including the interest rate, loan amount, and monthly payment.
    • Prepare for Closing Costs: Closing costs can include loan origination, title opinion, settlement services and other fees. Make sure you have enough funds to cover these expenses.

    8. Closing/Possession

    The final step in the home buying process is closing:

    • Set Up Utilities: Arrange for utilities such as electricity, gas, water, and internet to be set up before you move in.
    • Review the Closing Disclosure: A few days before closing, you'll receive a closing disclosure that outlines all the final details of your mortgage. Review this carefully.
    • Attend the Closing: On closing day, you'll sign the necessary documents to transfer ownership of the property. Bring your ID and a cashier's check for all remaining closing costs.
    • Get the Keys: Once everything is signed and funds are transferred, you'll receive the keys to your new home!

    9. Move In and Settle

    Congratulations—you're now a homeowner! As you move in and settle, remember to:

    • Change Your Address: Notify the post office, banks, utilities, and other important contacts of your new address.
    • Familiarize Yourself with the Neighborhood: Take time to explore your new community and meet your neighbors.

    Buying your first home is a significant achievement, and with careful planning, you can navigate the process with confidence. By following this guide, you'll be well-equipped to make informed decisions and enjoy the exciting journey to homeownership. Happy house hunting!

    ]]>     <![CDATA[Avoid These Common Mistakes After Applying for a Mortgage]]>

    If you're getting ready to buy a home, it's exciting to jump a few steps ahead and think about moving in and making it your own. But before you get too far down the emotional path, there are some key things to keep in mind after you apply for your mortgage and before you close. Here's a list of things to remember when you apply for your home loan.

    Don't Deposit Large Sums of Cash

    Lenders need to source your money, and cash isn't easily traceable. Before you deposit any cash into your accounts, discuss the proper way to document your transactions with your loan officer.

    Don't Make Any Large Purchases

    It's not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you have compared to your monthly income). Since higher ratios make for riskier loans, borrowers may no longer qualify for their mortgage. Resist the temptation to make any large purchases, even for furniture or appliances.

    Don't Cosign Loans for Anyone

    When you cosign for a loan, you're making yourself accountable for that loan's success and repayment. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won't be the one making the payments, your lender will have to count them against you.

    Don't Switch Bank Accounts

    Lenders need to source and track your assets. That task is much easier when there's consistency among your accounts. Before you transfer any money, speak with your loan officer.

    Don't Apply for New Credit

    It doesn't matter whether it's a new credit card or a new car. When your credit report is run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), it will have an impact on your FICO® score. Lower credit scores can determine your interest rate and possibly even your eligibility for approval.

    Don't Close Any Accounts

    Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn't true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those parts of your score.

    Do Discuss Changes with Your Lender

    Be upfront about any changes that occur or you're expecting to occur when talking with your lender. Blips in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. Ultimately, it's best to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.

    Bottom Line

    You want your home purchase to go as smoothly as possible. Remember, before you make any large purchases, move your money around, or make major life changes, be sure to consult your lender – someone who's qualified to explain how your financial decisions may impact your home loan.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Understanding the Benefits of Owning Your First Home]]>

    Are you considering buying your first home? If so, it can be helpful to know what led other people to make that decision. According to a recent survey of first-time homebuyers by PulteGroup:

    "When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents."

    While that survey looked specifically at first-time homebuyers buying newly built homes, the same sentiment is true for just about anyone buying their first home. Here's a bit more information to help you think about those two benefits of homeownership to see if they're a key factor for you too.

    When You Buy a Home, You Have More Stability than When You Rent

    You might want to stop renting because rents keep going up. If you're a renter, that means there's a chance your payment will increase each time you sign a new rental agreement or renew your current one.

    On the other hand, when you buy your home with a fixed-rate mortgage, your monthly housing payment is predictable over the length of that loan. This stability can give you a peace of mind that renting just can't provide. Jeff Ostrowski, real estate journalist, breaks it down:

    "With a fixed-rate mortgage, your monthly principal and interest payment is set for as long as you keep the loan. Sign a rental lease, however, and you could see your rent rise the following year, the year after that and so on."

    When You Buy a Home, You Grow Your Wealth as Home Values Climb

    Beyond that, owning a home can also be a great long-term investment. While renting may be the more affordable option right now, it doesn't provide an avenue for you to grow your wealth over time. Mark Fleming, Chief Economist at First American, explains that's an important distinction to consider:

    "Given current dynamics, more young households may choose to rent in the near term as the cost to own, excluding house price appreciation, has unequivocally increased. Yet, accounting for house price appreciation in that cost of homeownership, whether to rent or buy will depend on where, and if, a home is likely to cost more or less in the near future."

    Basically, renting doesn't allow you to build equity. In contrast, homeownership can help you grow your net worth as your home's value appreciates. That's a significant perk you can't get if you keep renting.

    When you take that into account, it may make better financial sense to buy. Most experts project home prices will continue to appreciate over the next few years at a pace that's more normal for the market. That means when you buy a home, not only are you investing in a place to live, but you're also investing in your financial future. 

    Bottom Line

    If you're ready, it can be a smart move to buy your first home instead of renting. Let's connect so you can stabilize your housing payment and start building wealth for your future.

    *Source: Keeping Current Matters, Inc. 2023

    ]]>     <![CDATA[Gen Z: The Next Generation Is Making Moves in the Housing Market]]>

    Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they're turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents' roofs to owning their own homes.

    If you're a member of this generation, and you're interested in pursuing your own dream of homeownership, here's some information you may find helpful on why and where your peers are buying.

    The Reasons Gen Z Want To Become Homeowners

    A recent survey by Rocket Mortgage identifies some of the top motivators driving Gen Z buyers to purchase a home:

    "Of those surveyed, 34% said that starting or growing their family was their main motivation to buy a home. . . . Along with growing a family comes establishing a home base."

    Another key reason the survey says Gen Z wants to buy is because homeownership can give them more stability (20.8%). That's because buying a home allows you to stabilize what's typically your biggest monthly expense: your housing cost.

    When you have a fixed-rate mortgage on your home, you can lock in your monthly payment for the duration of your loan, often 15 to 30 years. If you keep renting, you don't have that same benefit, and you won't be protected from rising housing costs.

    So, if you're ready to start a new chapter in your life or if you're craving more stability, know that your peers feel the same way, and those motivators are why they're turning to homeownership.

    Gen Z's Next Stop: Where Are They Making Their Moves?

    If those reasons have you feeling ready to buy, here's some information on where your peers are finding their homes that could help you with your search. According to a recent Lending Tree survey, Gen Z buyers are focusing on more affordable areas to help boost their buying power and offset the challenges that come with today's mortgage rates.

    Many Gen Z buyers still want the convenience and excitement of city life, but also value the affordability, open air, and space more suburban areas offer. Jacob Channel, Senior Economist at LendingTree, explains:

    ". . . they want to live in a city, but they also want to be close to nature."

    Locating a home that offers both of those things requires expertise. Working with a trusted real estate professional can help you find a home in your budget and desired area. Your agent will know the most affordable neighborhoods to search in. They can also highlight the amenities and features that location offers and how those are aligned with your goals. They'll also be able to walk you through how things like remote work can help you cast a broader net for your search. 

    Bottom Line

    If you're a member of Gen Z and are just getting started on your homebuying journey, or if you want to learn more about the process, let's connect. That way, you have a guide to help you find a home that fits both your lifestyle and your budget.

    *Source: Keeping Current Matters, Inc. 2023

    ]]>     <![CDATA[People Want Less Expensive Homes – And Builders Are Responding]]>

    In today's housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they've been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.

    People Are Spending Less on Newly Built Homes

    The graph below uses the latest information from the Census to show, in June, more of the newly built home sales in this country were in lower price ranges than in 2022:

    Last year, only 58% of newly built home sales were less than $500,000. This June, that number was up to 65%. This means more people are buying less expensive newly built homes right now while affordability remains a challenge. 

    Builders Are Offering Lower-Cost Options

    Builders have picked up on this trend and are reacting accordingly. George Ratiu, Chief Economist at Keeping Current Matters, explains:

    "Builders are also responding to this shift by bringing slightly smaller homes to market in an effort to meet lower price points . . ."

    New data from the Census further confirms this pattern – it shows the median sales price of newly built homes has dipped down in recent months (see graph below):

    And as Mikaela Arroyo, Director of the New Home Trends Institute at John Burns Real Estate Consulting, says, the builders who are most responsive to this trend are forming pathways to homeownership:

     ". . . it is creating opportunities for people to be able to afford an entry-level home in an area. . . . if you get that size down, that automatically will make it a more affordable home. The [builders] that are decreasing [size] the most are probably the ones that try to build more of an affordable product."

     How an Agent Can Help

     Builders producing smaller, less expensive newly built homes give you more affordable options at a time when that's really needed. If you're hoping to buy a home soon, partner with a local real estate agent to find out what's available in your area. An agent can help you look at newly built homes or ones under construction nearby. 

    Bottom Line

    If you're having a hard time finding a home you like in your budget, let's connect. You need a real estate professional who knows all about the latest inventory in our area, including homes still under construction or just built. That way you have an expert on your side who can provide information on builder reputations, builder contracts and negotiations, and more to help you with the homebuying process.

    *Keeping Current Matters, Inc.

    ]]>     <![CDATA[Tips for Making Your Best Offer on a Home]]>

    While the wild ride that was the 'unicorn' years of housing is behind us, today's market is still competitive in many areas because the supply of homes for sale is still low. If you're looking to buy a home this season, know that the peak frenzy of bidding wars is in the rearview mirror, but you may still come up against some multiple-offer scenarios.

    Here are a few things to consider to help you put your best foot forward when making an offer on a home.

    1. Lean on a Real Estate Professional

    Rely on an agent who can support your goals and help you understand what's happening in today's housing market. Agents are experts in the local market and on the national trends too. They'll use both of those areas of expertise to make sure you have all the information you need to move with confidence.

    Plus, they know what's worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out. As an article from Forbes says:

    "Getting to know a local realtor where you're hoping to buy can also potentially give you a crucial edge in a tight housing market."

    2. Get Pre-Approved for a Home Loan

    Having a clear budget in mind is especially important right now given the current affordability challenges. The best way to get a clear picture of what you can borrow is to work with a lender so you can get pre-approved for a home loan.

    That'll help you be more financially confident because you'll have a better understanding of your numbers. It shows sellers you're serious, too. And that can give you a competitive edge if you do get into a multiple-offer scenario.

    3. Make a Fair Offer

    It's only natural to want the best deal you can get on a home. However, submitting an offer that's too low does have some risks. You don't want to make an offer that will be tossed out as soon as it's received just to see if it sticks. As Realtor.com explains:

    ". . . an offer price that's significantly lower than the listing price, is often rejected by sellers who feel insulted . . . Most listing agents try to get their sellers to at least enter negotiations with buyers, to counteroffer with a number a little closer to the list price. However, if a seller is offended by a buyer or isn't taking the buyer seriously, there's not much you, or the real estate agent, can do."

    The expertise your agent brings to this part of the process will help you stay competitive and find a price that's fair to you and the seller.

    4. Trust Your Agent's Expertise Throughout Negotiations

    During the 'unicorn' years of housing, some buyers skipped home inspections or didn't ask for concessions from the seller in order to submit the winning bid on a home. An article from Bankrate explains this isn't happening as often today, and that's good news:

    "While the market has largely calmed down since then, sellers are still very much in the driver's seat in this era of scarce housing inventory. It's not as common for buyers to waive inspections anymore, but it does still happen. . . . It's in the buyer's best interest to have a home inspected . . . Inspections alert you to existing or potential problems with the home, giving you not just an early heads up but also a useful negotiating tactic."

    Fortunately, today's market is different, and you may have more negotiating power than before. When putting together an offer, your trusted real estate advisor will help you think through what levers to pull and which ones you may not want to compromise on.

    Bottom Line

    When you buy a home this summer, let's connect so you have an expert on your side who can help you make your best offer.

    *Keeping Current Matters, Inc. 2023

    ]]>     <![CDATA[What Homebuyers Need To Know About Credit Scores]]>

    If you're thinking about buying a home, you should know your credit score's a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It's also a factor that helps determine your mortgage rate. An article from Bankrate explains:

     "Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you'll qualify for."

    This means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability, especially today. According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 765. But, that doesn't mean your credit score has to be perfect. An article from Business Insider explains generally how your FICO score range can make an impact:

    ". . . you don't need a perfect credit score to buy a house. . . . Aiming to get your credit score in the 'Good' range (670 to 739) would be a great start towards qualifying for a mortgage. But if you're wanting to qualify for the lowest rates, try to get your score within the 'Very Good' range (740 to 799)." 

    Working with a trusted lender's the best way to get more information on how your credit score could factor into your home loan and the mortgage rate you're able to get. As FICO says:

    "While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single "cutoff score" used by all lenders and there are many additional factors that lenders may use to determine your actual interest rates."

    If you're looking for ways to improve your score, Experian highlights some things you may want to focus on:

    • Your Payment History: Late payments can have a negative impact by dropping your score. Focus on making payments on time and paying any existing late charges quickly.
    • Your Debt Amount (relative to your credit limits): When it comes to your available credit amount, the less you're using, the better. Focus on keeping this number as low as possible.
    • Credit Applications: If you're looking to buy, don't apply for other credit. When you apply for new credit, it could result in a hard inquiry on your credit that drops your score.

    When you're ready to start the homebuying process, a lender will be able to assess which range your score falls in and tell you more about the specifics for each loan type.

    Bottom Line

    With affordability challenges today, prioritizing ways you can have a positive impact on your credit score could help you get a better mortgage rate. If you want to learn more, let's connect.

    Source: *Keeping Current Matters, Inc.

    ]]>     <![CDATA[The Best Time To Sell Your House Is When Others Aren't Selling]]>

    If you're thinking about selling your house, you should know the number of homes for sale right now is low. That's because, this season, there are fewer sellers listing their houses for sale than the norm.

    Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph below). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April (see graph below):

    While there are a number of factors contributing to this trend, one thing keeping inventory low right now is that some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get today on their next house. It's called rate lock.

    As a recent survey from Realtor.com explains, 56% of people who are planning to sell in the next 12 months say they're waiting for rates to come down.

    While this wait-and-see approach is right for some sellers, it also creates an opening for more eager sellers to jump in now.

    If your current house truly doesn't fit your needs anymore and you're ready to move, don't miss this chance to stand out. When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That's why your house could see multiple offers as buyers compete over the limited supply of homes for sale – especially if you price it right.

    As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

    "Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties."

    Bottom Line

    If you're ready to sell now, beat the competition before it comes onto the market. If you do, your house should stand out and could get multiple offers. Let's connect to get you market ready.

    *Keeping Current Matters, Inc. 2023

    ]]>     <![CDATA[The Power of Pre-Approval]]>

    If you're buying a home this spring, today's housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it's essential to have a firm grasp on your homebuying budget. You'll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One thing you can do to help you prepare is to get pre-approved.

    To understand why it's such an important step, you need to know what pre-approval is. As part of the process, a lender looks at your finances to determine what they'd be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow.

    Freddie Mac explains it like this:

    "A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. . . . Keep in mind that the loan amount in the pre-approval letter is the lender's maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying."

    Basically, pre-approval gives you critical information about the homebuying process that'll help you understand how much you may be able to borrow so you have a stronger grasp of your options. And with higher mortgage rates impacting affordability for many buyers today, a solid understanding of your numbers is even more important.

    Pre-Approval Helps Show You're a Serious Buyer

    That's not the only thing pre-approval can do. Another added benefit is it can help a seller feel more confident in your offer because it shows you're serious about buying their house. And, with sellers seeing a slight increase in the number of offers again this spring, making a strong offer when you find the perfect house is key.

    As a recent article from the Wall Street Journal (WSJ) says:

    "If you plan to use a mortgage for your home purchase, preapproval should be among the first steps in your search process. Not only can getting preapproved help you zero in on the right price range, but it can give you a leg up on other buyers, too."

    Bottom Line

    Getting pre-approved is an important first step when you're buying a home. It lets you know what you can borrow for your loan and shows sellers you're serious. Connect with a local real estate professional and a trusted lender so you have the tools you need to purchase a home in today's market.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Think Twice Before Waiting for Lower Home Prices]]>

    As the housing market continues to change, you may be wondering where it'll go from here. One factor you're probably thinking about is home prices, which have come down a bit since they peaked last June. And you've likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that's not the best strategy.

    A recent survey from Zonda shows 53% of millennials are still renting right now because they're waiting for home prices to come down. But here's the thing: the most recent data shows that home prices appear to have bottomed out and are now on the rise again. Selma Hepp, Chief Economist at CoreLogic, reports:

    "U.S. home prices rose by 0.8% in February . . . indicating that prices in most markets have already bottomed out."

    And the latest data from Black Knight shows the same shift. The graph below compares home price trends in November to those in February:

    So, should you keep waiting to buy a home until prices come down? If you factor in what the experts are saying, you probably shouldn't. The data shows prices are increasing in much of the country, not decreasing. And the latest data from the Home Price Expectation Survey indicates that experts project home prices will rise steadily and return to more normal levels of appreciation after 2023. The best way to understand what home values are doing in your area is to work with a local real estate professional who can give you the latest insights and expert advice.

    Bottom Line

    If you're waiting to buy a home until prices come down, you may want to reconsider. Let's connect to make sure you understand what's happening in our local housing market.

    515-233-4450 | www.HunzikerRealty.com

    ]]>     <![CDATA[Get Ready: The Best Time To List Your House Is Almost Here]]>

    If you're thinking about selling this spring, it's time to get moving – the best week to list your house is fast approaching.

    Experts at realtor.com looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year:

    "Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year."

    If you've been waiting for the best time to sell, this is your chance. But remember, before you put your house on the market, you've got to get it ready. And if you haven't started that process yet, you'll need to move quickly. Here's what you should keep in mind.

    Work with an Agent To Determine Which Updates To Make

    Start by prioritizing which updates you'll make. In February, realtor.com asked more than 1,200 recent or potential home sellers what updates they ended up making to their house before listing it (see graph below):

     

    As you can see, the most common answers included landscaping and painting. Work with a trusted real estate agent to determine what projects make the most sense for your goals and local market.

    If Possible, Plan To Have Your House Staged

    Once you've made any necessary repairs and updates to your house, consider having it staged. According to the National Association of Realtors (NAR), 82% of buyers' agents said staging a home made it easier for a buyer to visualize the property as a future home. Additionally, almost half of buyers' agents said home staging had an effect on most buyers' view of the home in general. Homes that are staged typically sell faster and for a higher price because they help potential buyers more easily picture their new life in the house.

    Bottom Line

    Are you ready to sell this spring? Let's connect to plan your next steps. You can start by making a checklist of what you think your house needs to get ready. Then, we can work together to prioritize your list and move forward together.

    515-233-4450 | info@hunziker.com

    ]]>     <![CDATA[Here's Why the Housing Market Isn't Going To Crash [INFOGRAPHIC]]]>

    Some Highlights

    • Today's housing market is different than it was in 2008.
    • Lending standards have tightened, foreclosures have declined, home inventory is much lower, and homeowners have far more equity.
    • If you're concerned about a crash, meet with a local real estate professional to discuss why this isn't like last time.

    Contact us today to discuss the real estate market in your local area!

    ]]>     <![CDATA[Leverage Your Equity When You Sell Your House]]>

    One of the benefits of being a homeowner is that you build equity over time. By selling your house, that equity can be used toward purchasing your next home. But before you can put it to use, you should understand exactly what equity is and how it grows. Bankrate explains it like this:

    "Home equity is the portion of your home you've paid off – in other words, your stake in the property as opposed to the lender's. In practical terms, home equity is the appraised value of your home minus any outstanding mortgage and loan balances."

    Majority of Americans Have a Large Amount of Equity

    If you've owned your home for a while, you've likely built up some equity – and you may not even realize how much. Based on data from the U.S. Census Bureau and ATTOM, the majority of Americans have a substantial amount of equity right now (see graph below):

    Leverage Your Equity When You Sell Your House | MyKCM

    And having such large amounts of equity is a benefit to homeowners in more ways than one. Rick Sharga, Executive Vice President of Market Intelligence at ATTOM, explains:

    "Record levels of home equity provide security for millions of families, and minimize the chance of another housing market crash like the one we saw in 2008."

    Over time, your home equity grows. In addition to providing financial stability while you own your house, when you're ready to sell it, that money could go a long way toward paying for your next home.

    Bottom Line

    By selling your house and leveraging your equity, it can be easier to pay for your next home. Let's connect today so you can find out how much home equity you have and start planning your next move.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[How To Make Your Dream of Homeownership a Reality]]>

    According to a recent Harris Poll survey, 8 in 10 Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial benefits, so that interest is understandable.

    However, it's unlikely all 28 million Americans will accomplish that goal in the coming year. Experts project a total of around five million homes will be sold in 2023. Why is there such a big difference? It's partly because there can be challenges to buying a home.

    In the same survey, when asked, "Which of the following are preventing you from pursuing homeownership at this time?":

    • 34% answered, "I don't have enough saved for a down payment"
    • 30% answered, "My credit score"

    If you're aiming to buy a home, here's what you need to know to accomplish that goal.

    Save for Your Down Payment

    Your down payment is a big chunk of what you pay up front for your home. For most home purchases, buyers put down some amount of cash up front (a down payment) and then take out a loan (a mortgage) to pay for the rest.

    It's a longstanding myth that you need to pay 20% of the purchase price for your down payment. In reality, 20% down isn't always required. In fact, according to the National Association of Realtors (NAR), today's median down payment is 14% for the average buyer and just 6% for a first-time buyer.

    Regardless of how much money you can save for your down payment, know there's help available. A local lender can show you options to help you get closer to your down payment goal. Plus, there are even loan types, like FHA loans, with down payments as low as 3.5% for some buyers, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants.

    Beyond assistance programs and different loan types, here are a few other tips to help you as you save for your down payment:

    • Remember to factor in closing costs. In addition to your down payment, closing costs are usually 2-5% of the home's purchase price.
    • Maintain your savings. Your down payment shouldn't deplete all your savings. It's important to still have some money set aside for homeownership expenses after you move in.
    • Explore your options and lean on your trusted advisor for expert guidance. Do your research, ask questions, and look into the resources available for buyers like you.

    Improve Your Credit Score

    Your credit score is a number that indicates how financially reliable you are to lenders. A higher credit score usually means you'll be able to borrow more money at a better interest rate. If your credit score is preventing you from getting an affordable mortgage, there are steps you can take to improve it. Here are two:

    • Pay your bills on time. When you pay your bills on time, your credit score improves. When you're late, it takes a hit. One way to make paying your bills on time easier? Set up automatic payments when and where you can.
    • Mix it up. From auto loans, to credit cards, to mortgages – there are several different types of credit. And having a mix of them improves your credit score.

    Bottom Line

    If you want to purchase a home this year, let's connect so we can start preparing.

    Call one of our agents today!

    515-233-4450 | info@hunziker.com

    ]]>     <![CDATA[Tips To Reach Your Homebuying Goals in 2023]]> If HomeBuying is a goal for you in 2023, here are some tips to follow!

    *Source: Keeping Current Matters, Inc

    ]]>     <![CDATA[Have Home Values Hit Bottom?]]>

    Whether you're already a homeowner or you're looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that's raising concerns about a repeat of what happened to prices in the crash in 2008.

    One of the questions that's on many minds, based on those headlines, is: how much will home prices decline? But what you may not realize is expert forecasters aren't calling for a free fall in prices. In fact, if you look at the latest data, there's a case to be made that the biggest portion of month-over-month price depreciation nationally may already be behind us – and even those numbers weren't significant declines on the national level. Instead of how far will they drop, the question becomes: have home values hit bottom?

    Let's take a look at the latest data from several reputable industry sources (see chart below):

    Have Home Values Hit Bottom? | MyKCM

    The chart above provides a look at the most recent reports from Case-Shiller, the Federal Housing Finance Agency (FHFA), Black Knight, and CoreLogic. It shows how, on a national scale, home values have changed month-over-month since January 2022. November and December numbers have yet to come out.

    Let's focus in on what the red numbers tell us. The red numbers are the change in home values over the last four months that have been published. And if we isolate the last four months, what the data shows is, in each case, home price depreciation peaked in August.

    While that doesn't guarantee home price depreciation has hit bottom, it confirms prices aren't in a free fall, and it may be an early signal that the worst is already behind us. As the numbers for November and December are released, data will be able to further validate this national trend.

    Bottom Line

    Home prices month-over-month have depreciated for the past four months on record, but there's a strong case to be made that the worst may be behind us. If you have questions about what's happening with home prices in our local market, let's connect.

    Hunziker & Associates, REALTORS

    Ames Area
    105 South 16th St. • Ames, IA 50010 • 515-233-4450
    Ankeny Area
    1520 NW Irvinedale Dr • Suite 102 • Ankeny, IA 50023 • 515-963-8618
    Boone Area
    1516 S. Story Street • Boone, IA 50036 • 515-432-8699
    ]]>     <![CDATA[Will My House Still Sell in Today's Market?]]>

    If recent headlines about the housing market cooling and buyer demand moderating have you worried you've missed your chance to sell, here's what you need to know. Buyer demand hasn't disappeared, it's just eased from the peak intensity we saw over the past two years.

    Buyer Demand Then and Now

    During the pandemic, mortgage rates hit record lows, and that spurred a significant rise in buyer demand. This year, as rates increased due to factors like rising inflation, buyer demand pulled back or softened as a result. The latest data from ShowingTime confirms this trend (see graph below):

    Will My House Still Sell in Today's Market? | MyKCM

    The orange bars in the graph above represent the last few months of data and the clear cooldown in the volume of home showings the market has seen since mortgage rates started to rise. But context is important. To get the full picture of where today's demand stands, let's look at the July data for the past six years (see graph below):

    Will My House Still Sell in Today's Market? | MyKCM

    This second visual makes it clear that, while moderating compared to the frenzy in 2020 and 2021, showing activity is still beating pre-pandemic levels – and those pre-pandemic years were great years for the housing market. That goes to show there's still demand if you sell your house today.

    What That Means for You When You Sell

    The key to selling in a changing market is understanding where the housing market is now. It's not the same market we had last year or even earlier this year, but that doesn't mean the opportunity to sell has passed.

    While things have cooled a bit, it's still a sellers' market. If you work with a trusted local expert to price your house at the current market value, the demand is still there, and it should sell quickly. According to a recent survey from realtor.com, 92% of homeowners who sold in August reported being satisfied with the outcome of their sale.

    Bottom Line

    Buyer demand hasn't disappeared, it's just moderated this year. If you're ready to sell your house today, let's connect so you have expert insights on how the market has shifted and how to plan accordingly for your sale.

    ]]>     <![CDATA[Fall Home Selling Checklist]]>

    Some Highlights

    • When it comes to selling your house, you want it to look its best inside and out so it catches the attention of buyers. A real estate professional can help you decide what to do to make that happen.
    • Focus on tasks that can make it inviting, show it's cared for, and boost your curb appeal.
    • Let's connect so you have advice on what you may want to do to get your house ready to sell this season.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Expert Forecasts on Mortgage Rates]]> If you've been thinking of buying a home, you may have been watching what's happened with mortgage rates over the past year. It's true they've risen dramatically, but where will they go from here, especially as the market continues to slow?

    As you think about your homeownership goals and decide if now's the time to make your move, the best place to turn to for that information is the professionals. Here's a summary of the latest mortgage rate forecasts from housing market experts.

    Experts Project Mortgage Rates Will Stabilize

    While mortgage rates continue to fluctuate due to ongoing inflationary pressures and economic uncertainty, experts project they'll start to stabilize in the months ahead. According to the latest projections, mortgage rates are expected to hover in the low to mid 5% range initially, and then potentially dip into the high 4% range by later next year (see chart below):

    Expert Forecasts on Mortgage Rates | MyKCM

    That could bring you some welcome relief. So far this year, mortgage rates have climbed over two percentage points due to the Federal Reserve's response to inflation, and that's made it more expensive to buy a home. And wondering if the rise in rates will continue is keeping some prospective buyers on the sidelines.

    But now that experts say mortgage rates should stabilize, this gives you a bit more certainty about what they think the future holds, and that may help you feel more confident about your decision to buy a home.

    Bottom Line

    Whether you're looking to buy your first home, move up to a larger home, or even downsize, you need to know what's happening in the housing market so you can make the most informed decision possible. Let's connect to discuss your goals and determine the best plan for your move.

    *Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[What's Actually Happening with Home Prices Today?]]>

    One of the biggest questions people are asking right now is: what's happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.

    Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let's break down the differences among those terms to help clarify what's actually happening today.

    • Appreciation is when home prices increase.
    • Depreciation is when home prices decrease.
    • Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.

    Experts agree that, nationally, what we're seeing today is deceleration. That means home prices are appreciating, just not at the record-breaking pace they have over the past year. In 2021, data from CoreLogic tells us home prices appreciated by an average of 15% nationwide. And earlier this year, that appreciation was upward of 20%. This year, experts forecast home prices will appreciate at a decelerated pace of around 10 to 11%, on average.

    The graph below uses the latest data from CoreLogic to help tell the story of how home prices are decelerating, but not depreciating so far this year.

    What's Actually Happening with Home Prices Today? | MyKCM

    As the green bars show, home prices appreciated between 19-20% year-over-year from January to March. But over the last few months, the pace of that appreciation has decelerated to 18%. This means price growth is still climbing compared to last year but at a slower rate.

    As the Monthly Mortgage Monitor from Black Knight explains:

    "Annual home price growth dropped by nearly two percentage points . . . – the greatest single-month slowdown on record since at least the early 1970s. . . While June's slowdown was record-breaking, home price growth would need to decelerate at this pace for six more months to drive annual appreciation back to 5%, a rate more in line with long-run averages."

    Basically, this means, while moderating, home prices are still far above the norm, and we'd have to see a lot more deceleration to even fall in line with more typical rates of home price growth. That's still not home price depreciation.

    The big takeaway is home prices haven't fallen or depreciated nationwide, they're just decelerating or moderating. While some unique and overheated markets may see declines, nationally, home prices are forecast to appreciate. And when we look at the country as a whole, none of the experts project home prices will net depreciate or fall. They're all projecting ongoing appreciation.

    Bottom Line

    If you have questions about what's happening with home prices in our local area, let's connect. Give us a call today!

    *Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[Why You May Want To Start Your Home Search Today]]>

    If you're thinking about buying a home, you likely have a lot of factors on your mind. You're weighing your own needs against higher mortgage rates, today's home prices, and more to try to decide if you want to jump into the market. While some buyers may wait things out, there's a reason serious buyers are making moves right now, and that's the growing number of homes for sale.

    So far this year, housing inventory has been increasing and that's making the prospect of finding your dream home less difficult. While there are always reasons you could delay making a big decision, there are also always reasons to consider moving forward. And having a growing number of options for your home search may be exactly what you needed to feel more confident in making a move.

    What's Causing Housing Inventory To Grow?

    As new data comes out, we're getting an updated picture of why housing supply is increasing so much this year. As Bill McBride, Author of Calculated Risk, explains:

    "We are seeing a significant change in inventory, but no pickup in new listings. Most of the increase in inventory so far has been due to softer demand – likely because of higher mortgage rates."

    Basically, the inventory growth is primarily from homes staying on the market a bit longer (known as active listings). And that's happening because higher mortgage rates and home prices have helped moderate the peak frenzy of buyer demand.

    The graph below uses data from realtor.com to show how much active listings have risen over the past five months as a result (shown in green):

    Why You May Want To Start Your Home Search Today | MyKCM

    Why This Growth Is Good News for You

    Regardless of the source, the increase in available housing supply is good for buyers. More housing supply actively for sale means you have more options as your search for your next home. A recent article from realtor.com explains just how significant the inventory growth has been and why it's good news for your plans to buy:

    "Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over the past year, the largest increase in inventory in the data history and higher than last month's growth rate of 18.7% which was itself record-breaking. This amounted to 176,000 more homes actively for sale on a typical day in July compared to the previous year and more choice for buyers who are still looking for a new home."

    The growth this year is certainly good news for you, especially if you've had trouble finding a home that meets your needs. If you start your search today, those additional options should make it less difficult to find a home than it would have been over the past two years.

    Bottom Line

    If you're ready to jump into the market and take advantage of the increasing supply of homes for sale, let's connect today. The opportunity is knocking, will you answer?

    *Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[Why a Home Inspection Is Important]]>

    Some Highlights

    • If you're buying a home, here's what you should know about your home inspection and why it's so important.
    • A home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase so you can avoid costly surprises down the road.
    • Let's connect so you have an expert on your side to guide you through the process.

    *Source: Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[What Does the Rest of the Year Hold for Home Prices?]]>

    Whether you're a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? Let's break down what's happening with home prices, where experts say they're headed, and why this matters for your homeownership goals.

    Last Year's Rapid Home Price Growth Wasn't the Norm

    In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up. CoreLogic helps explain how unusual last year's appreciation was:

    "Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%."

    In other words, the pace of appreciation in 2021 far surpassed the 6% the market saw in 2020. And even that appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale.

    Home Price Appreciation Moderates Today

    This year, home price appreciation is slowing (or decelerating) from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022 (see graph below):

    What Does the Rest of the Year Hold for Home Prices? | MyKCM

    Why do all of these experts agree prices will continue to rise? It's simple. Even though the housing supply is growing today, it's still low overall thanks to several factors, including a long period of underbuilding homes. And experts say that's going to help keep upward pressure on home prices this year. Additionally, since mortgage rates are higher this year than they were last year, buyer demand has slowed.

    As the market undergoes this change, its true price appreciation this year won't match the feverish pace in 2021. But the rapid appreciation the market saw last year wasn't sustainable anyway.

    What Does That Mean for You?

    Today, the market is beginning to move back toward pre-pandemic levels. But even the forecast for 10% home price growth in 2022 is well beyond the 3.8% that's more typical for a normal market.

    So, despite what you may have heard, experts say home prices won't fall in most markets. They'll just appreciate more moderately.

    If you're worried the house you're trying to sell or the home you want to buy will decrease in value, you should know experts aren't calling for depreciation in most markets, just deceleration. That means your home should still grow in value, just not as fast as it did last year.

    Bottom Line

    If you're thinking of making a move, you shouldn't wait for prices to fall. Experts say nationally, prices will continue to appreciate this year, just at a more moderate pace. When you're ready to begin the process of buying or selling, let's connect so you have a local market expert on your side each step of the way.

    *Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[Why the Forbearance Program Changed the Housing Market]]>

    When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. Thankfully, the forbearance program changed that. It provided much-needed relief for homeowners so a foreclosure crisis wouldn't happen again. Here's why forbearance worked.

    Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work with their banks and lenders to stay in their homes rather than go into foreclosure. Marina Walsh, Vice President of Industry Analysis at the Mortgage Bankers Association (MBA), notes:

    "Most borrowers exiting forbearance are moving into either a loan modification, payment deferral, or a combination of the two workout options."

    As the graph below shows, with modification, deferral, and workout options in place, four out of every five homeowners in forbearance are either paid in full or are exiting with a plan. They're able to stay in their homes.

    Why the Forbearance Program Changed the Housing Market | MyKCM

    What does this mean for the housing market?

    Since so many people can stay in their homes and work out alternative options, there won't be a wave of foreclosures coming to the market. And while rising slightly since the foreclosure moratorium was lifted this year, foreclosures today are still nowhere near the levels seen in the housing crisis.

    Forbearance wasn't the only game changer, either. Lending standards have improved significantly since the housing bubble burst, and that's one more thing keeping foreclosure filings low. Today's borrowers are much more qualified to pay their home loans.

    And while the majority of homeowners are exiting the forbearance program with a plan, for those who still need to make a change due to financial hardship or other challenges, today's record-level of equity is giving them the opportunity to sell their houses and avoid foreclosure altogether. Homeowners have options they just didn't have in the housing crisis when so many people owed more on their mortgages than their homes were worth. Thanks to their equity and the current undersupply of homes on the market, homeowners can sell their houses, make a move, and not have to go through the foreclosure process that led to the housing market crash in 2008.

    Thomas LaSalvia, Chief Economist with Moody's Analytics, states:

    "There's some excess savings out there, over 2 trillion worth. . . . There are people that have ownership of those homes right now, that even in a downturn, they'd still likely be able to pay that mortgage and won't have to hand over keys. And there won't be a lot of those distressed sales that happened in the 2008 crisis."

    Bottom Line

    The forbearance program was a game changer for homeowners in need. It's one of the big reasons why we won't see a wave of foreclosures coming to the market.

    Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[3 Graphs To Show This Isn't a Housing Bubble]]>

    With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what'll happen next. It's only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is, there's concrete data to show why this is nothing like the last time.

    There's a Shortage of Homes on the Market Today, Not a Surplus

    The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate. Anything less than that is a shortage and will lead to continued price appreciation.

    For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to tumble. Today, supply is growing, but there's still a shortage of inventory available.

    The graph below uses data from the National Association of Realtors (NAR) to show how this time compares to the crash. Today, unsold inventory sits at just a 3.0-months' supply at the current sales pace.

    3 Graphs To Show This Isn't a Housing Bubble | MyKCM

    One of the reasons inventory is still low is because of sustained underbuilding. When you couple that with ongoing buyer demand as millennials age into their peak homebuying years, it continues to put upward pressure on home prices. That limited supply compared to buyer demand is why experts forecast home prices won't fall this time.

    Mortgage Standards Were Much More Relaxed During the Crash

    During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. The graph below showcases data on the Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers Association (MBA). The higher the number, the easier it is to get a mortgage.

    3 Graphs To Show This Isn't a Housing Bubble | MyKCM

    Running up to 2006, banks were creating artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance their current home. Back then, lending institutions took on much greater risk in both the person and the mortgage products offered. That led to mass defaults, foreclosures, and falling prices.

    Today, things are different, and purchasers face much higher standards from mortgage companies. Mark Fleming, Chief Economist at First American, says:

    "Credit standards tightened in recent months due to increasing economic uncertainty and monetary policy tightening." 

    Stricter standards, like there are today, help prevent a risk of a rash of foreclosures like there was last time.

    The Foreclosure Volume Is Nothing Like It Was During the Crash

    The most obvious difference is the number of homeowners that were facing foreclosure after the housing bubble burst. Foreclosure activity has been on the way down since the crash because buyers today are more qualified and less likely to default on their loans. The graph below uses data from ATTOM Data Solutions to help tell the story:

    3 Graphs To Show This Isn't a Housing Bubble | MyKCM

    In addition, homeowners today are equity rich, not tapped out. In the run-up to the housing bubble, some homeowners were using their homes as personal ATMs. Many immediately withdrew their equity once it built up. When home values began to fall, some homeowners found themselves in a negative equity situation where the amount they owed on their mortgage was greater than the value of their home. Some of those households decided to walk away from their homes, and that led to a wave of distressed property listings (foreclosures and short sales), which sold at considerable discounts that lowered the value of other homes in the area.

    Today, prices have risen nicely over the last few years, and that's given homeowners an equity boost. According to Black Knight:

    "In total, mortgage holders gained $2.8 trillion in tappable equity over the past 12 months – a 34% increase that equates to more than $207,000 in equity available per borrower. . . ."

    With the average home equity now standing at $207,000, homeowners are in a completely different position this time.

    Bottom Line

    If you're worried we're making the same mistakes that led to the housing crash, the graphs above should help alleviate your concerns. Concrete data and expert insights clearly show why this is nothing like the last time.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[What's Causing Ongoing Home Price Appreciation?]]>

    If you're thinking about making a move, you probably want to know what's going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won't fall. Here's a look at two key reasons experts forecast continued price growth: supply and demand.

    While Growing, Housing Supply Is Still Low

    Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren't enough homes on the market today. It uses data from the Census to show the number of single-family homes that were built in this country going all the way back to the 1970s.

    What's Causing Ongoing Home Price Appreciation? | MyKCM

    The blue bars represent the years leading up to the housing crisis in 2008. As the graph shows, right before the crash, homebuilding increased significantly. That's because buyer demand was so high due to loose lending standards that enabled more people to qualify for a home loan.

    The resulting oversupply of homes for sale led to prices dropping during the crash and some builders leaving the industry or closing their businesses – and that led to a long period of underbuilding of new homes. And even as more new homes are constructed this year and in the years ahead, this isn't something that can be resolved overnight. It'll take time to build enough homes to meet the deficit of underbuilding that took place over the past 14 years.

    Millennials Will Create Sustained Buyer Demand Moving Forward

    The frenzy the market saw during the pandemic is because there was more demand than homes for sale. That drove home prices up as buyers competed with one another for available homes. And while buyer demand has moderated today in response to higher mortgage rates, data tells us demand will continue to be driven by the large generation of millennials aging into their peak homebuying years (see graph below):

    What's Causing Ongoing Home Price Appreciation? | MyKCM

    Odeta Kushi, Deputy Chief Economist at First American, explains:

     ". . . millennials continue to transition to their prime home-buying age and will remain the driving force in potential homeownership demand in the years ahead."

    That combination of millennial demand and low housing supply continues to put upward pressure on home prices. As Bankrate says:

    "After all, supplies of homes for sale remain near record lows. And while a jump in mortgage rates has dampened demand somewhat, demand still outpaces supply, thanks to a combination of little new construction and strong household formation by large numbers of millennials."

    What This Means for Home Prices

    If you're worried home values will fall, rest assured that experts forecast ongoing home price appreciation thanks to the lingering imbalance of supply and demand. That means home prices won't decline.

    Bottom Line

    Based on today's factors driving supply and demand, experts project home price appreciation will continue. It'll just happen at a more moderate pace as the housing market continues its shift back toward pre-pandemic levels.

    *Source: Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[Wondering Where You'll Move if You Sell Your House Today?]]>

    If you put a pause on your home search because you weren't sure where you'd go once you sold your house, it might be a good time to get back into the market. That's because today's market is undergoing a shift, and the supply of homes for sale is increasing as a result. That means you may have a better chance of finding a home that will meet your current needs. Here are some options to consider.

    Buying an Existing Home Can Give You That Lived-in Charm

    According to the National Association of Realtors (NAR), the supply of existing homes (a home that's been previously owned) has steadily increased since the beginning of the year. The graph below indicates inventory levels are rising, and that's largely due to more homes coming onto the market and the pace of sales slowing:

    Wondering Where You'll Move if You Sell Your House Today? | MyKCM

    As the graph shows, if you're looking for a home with a lived-in charm, supply is rising, and that's great news for you.

    Danielle Hale, Chief Economist for realtor.com, gives insight into why more homeowners are listing their homes and adding to the growing supply of existing homes today:

    "Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That's prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options. We've seen more homes come up for sale this year compared to last year . . ."

    There are several benefits to buying an existing home. Many buyers want to purchase a home with history, and the character of older houses is hard to reproduce. Existing homes can often be part of an established neighborhood featuring mature landscaping that can give you additional privacy and boost your curb appeal.

    Plus, timing can be a consideration as well. With an existing home, you can move in based on the timeline you agree to with the sellers, rather than building a new home and waiting for construction to finish. This is something to keep in mind, especially if you need to move sooner rather than later.

    Just remember, while more sellers are listing their homes, supply is still low overall. That means you'll have more options to choose from as you search for your next home, but you'll still need to be prepared for a fast-moving market.

    Purchasing a Newly Built or Under Construction Home Means Brand New Everything

    Census data shows there's an increasing number of new homes available for sale. It includes homes that are under construction, soon to be completed, and fully built. As the graph below highlights, the supply of new homes for sale has also grown this year:

    Wondering Where You'll Move if You Sell Your House Today? | MyKCM

    When building a new home, you can create your perfect living space and customize it to your lifestyle. That could mean everything from requesting energy-efficient options to specific design features. Plus, you'll have the benefit of all new appliances, windows, roofing, and more. These can all help lower your energy costs, which can add up to significant savings over time.

    The lower maintenance that comes with a newer home is another great advantage. When you have a new home, you likely won't have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. And with new construction, you'll also have warranty options that may cover portions of your investment for the first few years.

    Keep in mind, that purchasing a new home could mean waiting a considerable amount of time before you can move. Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy at the National Association of Home Builders (NAHB), explains:

    "New single-family home inventory remained elevated at a 7.7 months' supply. . . . However, only 8.3% of new home inventory is completed and ready to occupy. The remaining have not started construction (25.9%) or are currently under construction."

    That's an important factor when making your decision and one you should discuss with a trusted real estate advisor. They'll help you think through all the pros and cons of both new and existing homes to help you arrive at your best decision.

    Bottom Line

    With the supply of homes for sale rising, you have options for your next home no matter what your preferences are. If you have questions or want help deciding what's best for you, let's connect and start the conversation today.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[How Your Equity Can Grow over Time]]>

    It's true that record levels of home price appreciation have spurred significant equity gains for homeowners over the past few years. As Diana Olick, Real Estate Correspondent at CNBC, says:

    "The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth."

    That's great for your home's value over the last couple of years, but what if you've lived in your home for longer than that? You may be wondering how much equity you truly have.

    The National Association of Realtors (NAR) has done a study to calculate the typical equity gains over longer spans of time. The data they compiled could be enough to motivate you to move. Just remember, to find out how much equity you have in your specific home, you'll want to get a professional equity assessment from a trusted real estate advisor.

    How Your Equity Grows

    Let's start by establishing how you build equity in your home. While price appreciation is clearly a factor that can help boost your equity, you also build equity over time as you pay down your home loan. NAR explains:

    "Home equity gains are built up through price appreciation and by paying off the mortgage through principal payments."

    Average Equity Growth over Time

    The study from NAR breaks down the typical equity gain over time (see graph below). It calculates the equity a homeowner potentially gained if they purchased the median-priced home 5, 10, or 30 years ago and still own it today.

    How Your Equity Can Grow over Time | MyKCM

    These six-figure numbers are impressive and certainly enough to help you fuel a move into your next home, but they're not a promised amount. Remember, your own equity gain will be different. It depends on how long you've been in the house, your home's condition, any upgrades you've made, your area, and much more.

    If you want to find out how much equity you have, partner with a trusted real estate professional for an equity assessment of your home. They can provide an expert opinion on what your house is worth today and how the equity you've gained over time can help you when you purchase your next home. It may be some (if not all) of what you need for your next down payment.

    Bottom Line

    If you're thinking about selling your house and making a move, home equity can be a real game-changer, especially if you've been in your current home for a while. If you're ready to find out how much equity you have, let's connect.

    Ames Area: 515-233-4450

    Ankeny/Des Moines Metro Area: 515-963-8618

    Boone Area: 515-432-8699

    *Source: Keeping Current Matters, Inc

    ]]>     <![CDATA[Is the Housing Market Correcting?]]>

    If you're following the news, all of the headlines about conditions in the current housing market may leave you with more questions than answers. Is the boom over? Is the market crashing or correcting? Here's what you need to know.

    The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way. Record-low mortgage rates and millennials reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren't enough homes available to purchase thanks to many years of underbuilding and sellers who held off on listing their homes due to the health crisis.

    This combination led to record-high demand and record-low supply, and that wasn't going to be sustainable for the long term. The latest data shows early signs of a shift back to the market pace seen in the years leading up to the pandemic – not a crash nor a correction. As realtor.com says:

    "The housing market is at a turning point. . . . We're starting to see signs of a new direction, . . ."

    Home Showings Then and Now

    The ShowingTime Showing Index tracks the traffic of home showings according to agents and brokers. It's a good indication of buyer demand. Here's a look at that data going back to 2019 (see graph below):

    Is the Housing Market Correcting? | MyKCM

    The 2019 numbers give a good baseline of pre-pandemic demand (shown in gray). As the graph indicates, home showings skyrocketed during the pandemic (shown in blue). And while current buyer demand has begun to moderate slightly based on the latest data (shown in green), showings are still above 2019 levels.

    And since 2019 was such a strong year for the housing market, this helps show that the market isn't crashing – it's just at a turning point that's moving back toward more pre-pandemic levels.

    Existing Home Sales Then and Now

    Headlines are also talking about how existing home sales are declining, but perspective matters. Here's a look at existing home sales going all the way back to 2019 using data from the National Association of Realtors (NAR) (see graph below):

    Is the Housing Market Correcting? | MyKCM

    Again, a similar story emerges. The pandemic numbers (shown in blue) beat the more typical year of 2019 home sales (shown in gray). And according to the latest projections for 2022 (shown in green), the market is on pace to close this year with more home sales than 2019 as well.

    It's important to compare today not to the abnormal pandemic years, but to the most recent normal year to show the current housing market is still strong. First American sums it up like this:

    ". . . today's housing market looks a lot like the 2019 housing market, which was the strongest housing market in a decade at the time."

    Bottom Line

    If recent headlines are generating any concerns, look at a more typical year for perspective. The current market is not a crash or correction. It's just a turning point toward more typical, pre-pandemic levels. Let's connect if you have any questions about our local market and what it means for you when you buy or sell this year.

    *Keeping Current Matters, Inc.

    ]]>     <![CDATA[How Homeownership Impacts You]]>

    June is National Homeownership Month, and it's the perfect time to reflect on how impactful owning a home can truly be. When you purchase a house, it becomes more than just a space you occupy. It's your stake in the community, an investment, and a place you can put your stamp on.

    If you're thinking about buying a home this year, here are some of the benefits you'll experience when you do.

    The Emotional Benefits of Homeownership

    Because it's a place that's uniquely yours, owning a home can give you a sense of pride and happiness in several ways.

    Your Home Can Reflect Your Tastes and Personality

    Investopedia puts it like this:

    "One often-cited benefit of homeownership is the knowledge that you own your little corner of the world."

    That knowledge can lead to a powerful, emotional connection to the place where you live. But so can the realization that your home will grow with you. Because it's yours, you have the freedom to make updates to it as your needs and tastes change. As Logan Mohtashami, Lead Analyst for HousingWire, says:

    "The psychology is that this is yours and you're going to make it as good as possible because you're in for a long time, . . . "

    And that can create a greater sense of ownership, pride, and connection with your home and your community.

    It Can Enhance Your Neighborhood and Civic Engagement

    Homeownership can lead you to get even more involved with your local area. After all, you're putting your roots down in a location and will want to do what you can to help improve it, much like your home. In a recent report, the National Association of Realtors (NAR) says:

    "Living in one place for a longer amount of time creates and [sic] obvious sense of community pride, which may lead to more investment in said community."

    The Financial Benefits of Homeownership

    When you choose to become a homeowner, you're making a financial decision as well. That's because your home is also an investment.

    It Can Help You Feel Financially Stable

    Homeownership is truly one of the best ways to improve your long-term financial position. Not only will you have a predictable monthly housing expense that can benefit your budget in the short term, but you'll also gain equity as your home appreciates in value and you make your monthly mortgage payment. As Freddie Mac says:

    "Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability."

    It Can Grow Your Wealth

    Because of your growing equity, you can build your net worth as a homeowner. And when you compare the difference in net worth between a renter and a homeowner, it's clear that owning a home truly offers a great way to build your long-term financial position.

    According to the latest data from NAR, the median household net worth of a homeowner is roughly $300,000, while the median net worth of renters is only about $8,000. That means a homeowner's net worth is nearly 40 times that of a renter.

    Bottom Line

    Homeownership is truly a way to find greater satisfaction and happiness and to build financial freedom. If National Homeownership Month has you dreaming about purchasing a home, then let's connect to begin the process today.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Sellers Have an Opportunity with Today's Home Prices]]>

    As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here's the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.

    According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:

    Sellers Have an Opportunity as Home Prices Re-Accelerate | MyKCM

    This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increased competition drove home prices up even more. Selma Hepp, Deputy Chief Economist at CoreLogic, explains:

    "Home price growth continued to gain speed in early spring, as eager buyers tried to get in front of the mortgage rate surge."

    And experts say prices are forecast to continue appreciating, just at a more moderate pace moving forward. A recent article from Fortune says:

    ". . . the swift move up in mortgage rates . . . doesn't mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model . . . still predicts home prices will climb further this year."

    What This Means for You

    If you're thinking about selling your house, you should know you have a great opportunity to list your home and capitalize on today's home price appreciation. As prices rise, so does the value of your home, which gives your equity a big boost.

    When you sell, you can use that equity toward the purchase of your next home. And at today's record-level of appreciation, that equity may be enough to cover some (if not all) of your down payment.

    Bottom Line

    History shows rising mortgage rates have not had a negative impact on home prices. Now is still a great time to sell your house thanks to ongoing price appreciation. When you're ready to find out how much equity you have in your current home and what's happening with home prices in your local area, let's connect.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[If You're a Homeowner, You Have Incredible Leverage When You Sell Today]]>

    In today's housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That's because there's a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things:

    These buyer needs give you an amazing advantage – also known as leverage – when you sell.

    What Does This Mean for Sellers Today?

    You might already realize this enables you to sell at a good price, but you're also in a great position to get the best terms to suit your needs.

    According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average home sold is receiving 4.8 offers. That's why there's a good chance you'll get offers from multiple buyers who are willing to compete for your house. When you do, you should look closely at the terms of each offer to find out which one has the best options for you.

    And if you have questions at any point in the process, remember your trusted real estate advisor can help. They're experts who understand the fine print, know how to compare the terms of various offers, and will help you select the best one for your situation.

    Bottom Line

    If you're thinking of selling your home, knowing buyer demand in today's market gives you a great opportunity to get the best terms and price when you sell your house. Let's connect today to discuss how much leverage you have as a seller in today's market.

    *Source: Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[Will Home Prices Fall This Year? Here's What Experts Say.]]>

    Many people are wondering: will home prices fall this year? Whether you're a potential homebuyer, seller, or both, the answer to this question matters for you. Let's break down what's happening with home prices, where experts say they're headed, and how this impacts your homeownership goals.

    What's Happening with Home Prices? 

    Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says:

    "Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%."

    So why are prices climbing so much? It's because there are more buyers than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot commodity in today's low-inventory housing market.

    Where Do Experts Say Prices Will Go from Here?

    Experts say the housing market isn't set up for a price decline due to that ongoing imbalance between supply and demand. In the latest home price forecasts for 2022, they're calling for ongoing appreciation throughout the year (see graph below):

    Will Home Prices Fall This Year? Here's What Experts Say | MyKCM

    While the experts are forecasting more moderate price appreciation, the 2022 projections show price gains will remain strong throughout this year. First American explains it like this:

    "While house price growth is expected to moderate from the rapid pace of 2021, strong home buyer demand against a backdrop of historically tight inventory of homes for sale will likely keep appreciation positive in the coming year."

    What Does That Mean for You?

    The biggest takeaway is that none of the experts are projecting depreciation. If you're a homeowner thinking about selling, the higher price appreciation over the last two years has been great for your home's value, but it's also something you should factor in when planning your next steps. If you'll also be buying a home after selling your current house, you shouldn't wait for prices to fall. Waiting will only cost you more in the long run because climbing mortgage rates and rising home prices will have an impact on your next home purchase. Freddie Mac says:

    "If you're thinking about waiting until next year and that maybe rates are higher, but you'll get a deal on prices – well that's risky. It may be more advantageous to purchase this year relative to waiting until 2023 at this time."

    Bottom Line

    If you're thinking of selling to move up, you shouldn't wait for prices to fall. Experts say prices will continue to appreciate this year. That means if you're ready, buying your next home before prices climb further may make the most financial sense. Let's connect to begin the process of selling your current home and looking for your next one before prices rise higher.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Today's Home Price Appreciation Is Great News for Existing Homeowners]]>

    If you're planning to sell your home this season, rising prices are great news for you. But it's important to understand why prices are rising to begin with. One major factor is supply and demand.

    In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they're looking for when options are scarce. And that's exactly what's happening in the current real estate market.

    Selma Hepp, Executive, Research & Insights and Deputy Chief Economist at CoreLogic, puts it like this:

    "With so few homes, buyers are once again left with fierce competition that's driving the share of homes that sold over the listing price up to 66% . . . With the continued imbalance between supply and demand, home prices are likely to have another year of strong gains and are expected to average about 10% growth for the year."

    Because it will take some time for the housing supply to increase, experts believe prices will continue rising. The latest Home Price Expectations Survey forecasts what will happen with home prices over the next 5 years. As the graph below shows, while the rate of appreciation will moderate over the next few years, prices will continue rising through 2026:

    Today's Home Price Appreciation Is Great News for Existing Homeowners | MyKCM

    What This Means When You Sell Your House

    If you're a homeowner, the projection for continued price appreciation this year opens up an opportunity to move. That's because it may give your equity a major boost. Equity is the difference between what you owe on your house and its market value. The amount of equity you have increases as you make your monthly payments and as rising home prices drive up the market value for your home.

    Growing equity is a powerful tool for homeowners. When you sell your house, the equity you've built comes back to you in the sale. That money could be enough to cover some (if not all) of your down payment on your next home.

    Of course, if you want to know how much equity you have in your current house, it's crucial to work with a real estate professional. They follow current market trends and can help you understand your home's value when you're ready to sell.

    What This Means for Your Next Purchase

    But today's rising home values aren't just good news if you're ready to sell. Because price appreciation is forecast to continue in the years ahead, you can rest assured your next home will be an investment that should grow in value with time. That's one of several reasons why real estate has been rated the best investment in a recent Gallup poll.

    Bottom Line

    If you're weighing whether or not you should sell your house this season, know rising home values may be opening up an opportunity to use equity to fuel your move. Let's connect so you can find out how much your home is worth and to learn more about all the benefits you have in today's market.

    *Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[Is It Enough To Offer Asking Price in Today's Housing Market?]]>

    If you're planning to buy a home this season, you're probably thinking about what you'll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer's bid and the home's initial asking price.

    In today's real estate market, buyers shouldn't shop for a home with the same expectations.

    Things Are Different Today

    Today's housing market is anything but normal. According to the National Association of Realtors (NAR), the average home that's sold today:

    • Receives 4.8 offers
    • Sells in just 17 days

    Homes selling quickly and receiving multiple offers show how competitive the housing market is for buyers right now. This is because there are more buyers on the market than homes for sale. When the number of homes available can't keep up with demand, homes often sell for more than the asking price.

    How Does This Impact You When It's Time To Submit an Offer?

    Market conditions should help guide your decisions throughout the process. Today, the asking price of a home is often the floor of the negotiation rather than the ceiling. Knowing this is important when it's time to submit an offer, but you should also use that information as you're searching for homes too. After all, you don't want to fall in love with a home that ultimately sells for a price higher than what you've budgeted for.

    The Mortgage Reports has advice if you're looking to purchase a home in a competitive market. The article encourages you to be realistic with your housing search, saying:

    "The best thing to do is set your budget and expectations ahead of time so you know how much you can afford to offer — and when to walk away. This will make negotiations a lot easier."

    Of course, when you've found your dream home, you'll want to do everything you can to submit your best offer upfront and win a potential bidding war. Knowing the current market is key to crafting a winning offer. That's where working with an expert real estate advisor becomes critical.

    A real estate professional will draw from their experience and expert-level knowledge of today's housing market throughout the process. They'll also balance conditions in your area to make sure your offer stands out above the rest.

    Bottom Line

    Understanding how to approach the asking price of a home and what's happening in today's real estate market are critical for buyers. Let's connect so we can work together to create a winning plan for you.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Where Are Mortgage Rates Headed?]]>

    There's never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American:

    "You know, the fallacy of economic forecasting is: Don't ever try and forecast interest rates and or, more specifically, if you're a real estate economist mortgage rates, because you will always invariably be wrong."

    Coming into this year, most experts projected mortgage rates would gradually increase and end 2022 in the high three-percent range. It's only April, and rates have already blown past those numbers. Freddie Mac announced last week that the 30-year fixed-rate mortgage is already at 4.72%.

    Danielle Hale, Chief Economist at realtor.com, tweeted on March 31:

    "Continuing on the recent trajectory, would have mortgage rates hitting 5% within a matter of weeks. . . ."

    Just five days later, on April 5, the Mortgage News Daily quoted a rate of 5.02%.

    No one knows how swiftly mortgage rates will rise moving forward. However, at least to this point, they haven't significantly impacted purchaser demand. Ali Wolf, Chief Economist at Zonda, explains:

    "Mortgage rates jumped much quicker and much higher than even the most aggressive forecasts called for at the end of last year, and yet housing demand appears to be holding steady."

    Through February, home prices, the number of showings, and the number of homes receiving multiple offers all saw a substantial increase. However, much of the spike in mortgage rates occurred in March. We will not know the true impact of the increase in mortgage rates until the March housing numbers become available in early May.

    Rick Sharga, EVP of Market Intelligence at ATTOM Data, recently put rising rates into context:

    "Historically low mortgage rates and higher wages helped offset rising home prices over the past few years, but as home prices continue to soar and interest rates approach five percent on a 30-year fixed rate loan, more consumers are going to struggle to find a property they can comfortably afford."

    While no one knows exactly where rates are headed, experts do think they'll continue to rise in the months ahead. In the meantime, if you're looking to buy a home, know that rising rates do have an impact. As rates rise, it'll cost you more when you purchase a house. If you're ready to buy, it may make sense to do so sooner rather than later.

    Bottom Line

    Mark Fleming got it right. Forecasting mortgage rates is an impossible task. However, it's probably safe to assume the days of attaining a 3% mortgage rate are over. The question is whether that will soon be true for 4% rates as well.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Balancing Your Wants and Needs as a Homebuyer Today]]>

    Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs.

    Danielle Hale, Chief Economist for realtor.com, explains it like this:

    "Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent."

    So how do you go about creating your list of desired features? The first step is to get pre-approved for your mortgage. Pre-approval helps you better understand your budget, and that plays an important role in how you'll craft your list. After all, you don't want to fall in love with a home that's too far out of reach.

    Once you have a good grasp of your budget, you can begin to list all the features of a home you would like. Here's a great way to think about them before you begin:

    • Must-Haves – If a house doesn't have these features, it won't work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).
    • Nice-To-Haves – These are features that you'd love to have but can live without. Nice-To-Haves aren't dealbreakers, but if you find a home that hits all the must-haves and some of the these, it's a contender (examples: a second home office, garage, etc.).
    • Dream State– This is where you can really think big. Again, these are not the features you'll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it's a clear winner (examples: farmhouse sink, multiple walk-in closets, etc.).

    Finally, once you've created your list and categorized it in a way that works for you, discuss it with your real estate advisor. They'll be able to help you refine the list further, coach you through the best way to stick to it and find a home in your area that meets your needs.

    Bottom Line

    Crafting your home search checklist may seem like a small task, but it can save you time and money. It's also one of the keys to being successful in today's competitive market. Let's connect so we can work together to find a home that fits your wants and needs.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[The Many Benefits of Homeownership]]>

    The past two years have taught us the true value of homeownership, especially the stability and the feeling of accomplishment it can provide. But homeownership has so much more to offer. Here's a look at a few of the non-financial and financial benefits of owning a home. If you're looking to buy a home today, think about all the ways homeownership can impact your life.

    Homeownership Has Impactful Personal and Emotional Benefits

    Owning your home gives you a significant sense of pride because it's a space that is truly yours. And as a homeowner, you can customize your home to your heart's desire. Having a space you've put your stamp on enhances the pride and sense of ownership you may feel.

    And that sense of ownership can extend beyond your shelter to help create social, community, and civic benefits as well. That's because the average homeowner stays in their home for longer than just a few years. That means you'll naturally feel a stronger connection to the community around you the longer you live there. This can help you experience a greater sense of belonging and a greater stake in your community as a whole. As the National Association of Realtors (NAR) says:

    "Living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community."

    Owning a Home Is a Significant Step Toward Financial Stability

    In a financial sense, homeowners benefit from home price appreciation, equity gains, and having a shield against some of the effects of inflation. These benefits can have a big impact on your life. As you gain equity through home price appreciation and paying down your mortgage, you build your net worth. And in times of inflation, your 30-year fixed-rate mortgage can help you stabilize one of your largest monthly expenses for the duration of your loan.

    Lawrence Yun, Chief Economist for NAR, explains how you can start to see these lasting effects of homeownership as soon as you make your purchase:

    "Owning a home continues to be a proven method for building long-term wealth. . . . Home values generally grow over time, so homeowners begin the wealth-building process as soon as they make a down payment and move to pay down their mortgage."

    Knowing you've made a good investment soon after your purchase is powerful. And that may give you confidence in your decision to buy a home.

    Bottom Line

    The benefits of owning a home are foundational. As a homeowner, you can feel proud of the space you call home and know you've made a sound financial investment. To learn how homeownership can help you, contact a local real estate advisor to start the conversation today.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Spring Cleaning Checklist for Sellers [INFOGRAPHIC]]]>

    Some Highlights

    • If you're thinking about selling your house this spring, here are some things you'll want to tackle before you list.
    • Spend your time on tasks that make it feel inviting, show it's cared for, and boost your curb appeal.
    • To determine the full list of things you'll want to tackle for your home, you need the opinion of a trusted expert. Let's connect to help make sure your house shows well this season.

    Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Are You Wondering if This Is the Year To Buy a Home?]]>

    Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you're a renter, chances are you've asked yourself that question at least once, and it's likely because you've faced an increase in your monthly housing costs over time. After all, according to Census data, rents have risen consistently for decades.

    To make an informed and powerful decision, the first step is understanding what's happening in today's housing market so you can determine which option is the better long-term financial decision for you.

    Rents Are Going Up Again This Year

    Rents are skyrocketing right now. Data from realtor.com shows just how much rental prices are surging throughout the country. The graph below highlights rental unit price increases over the past year:

    Are You Wondering if This Is the Year To Buy a Home? | MyKCM

    If you're a renter and plan on signing a new lease, your monthly costs are likely to go up when you do. Those rising costs can have a big impact on your financial goals, including any plans you're making to save for a home purchase.

    Homeownership Offers Stable Monthly Costs

    Of course, one of the key benefits of owning your home is that you're able to lock in and stabilize your payments for the duration of your loan. That's not the case when you rent.

    While rents are already on the rise, there's a good chance many people will see their rental costs increase even more this year. As Danielle Hale, Chief Economist at realtor.com, says:

    "With rents already at a high and expected to keep going up, rental affordability will increasingly challenge many Americans in 2022. For those thinking about making the transition from renting to buying their first home, rising rents will remain a motivating factor. . . ."

    So, if you're ready to become a homeowner, waiting any longer may not make financial sense. Instead, escape the cycle of rising rents and enjoy the many benefits that come with homeownership today.

    Bottom Line

    Starting your journey towards homeownership can pay off significantly this year. If you're financially ready today, let's connect so we can discuss your options.

    *Source: Keeping Current Matters, Inc. 2022

    ]]>     <![CDATA[Why Your Home Inspection Matters]]> Why Your Home Inspection Matters

    While some buyers may decide to waive their inspection, it's a risky decision. Your home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase so you can avoid costly surprises down the road.

    Call us today so you have a trusted professional on your side who will keep your interests top of mind.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Millennials: Do You Need a Home with More Space?]]>

    If you're a millennial, home-buying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you've outgrown your home.

    If that's the case, you're not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states:

    "They say the pandemic and the emergence of remote work accelerated millennial home-buying trends already under way. . . . Millennials who already owned homes traded up for more space."

    So, if you're working remotely now or simply have a growing need for additional space, it may be time to move. And even if you purchased your current home sometime over the last few years, you can still move into a different one that has the space and features you're looking for. That's because there's a good chance you have more equity than you realize. As Diana Olick, Real Estate Correspondent for CNBC, notes:

    "The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth. . . . Even homeowners who weren't listing their properties for sale were gaining equity. About 42% of homeowners were considered equity-rich at the end of last year, meaning their mortgages were half or less than half the value of their home."

    Growing equity can be the key you need to fuel your next move, especially if you're looking to purchase a larger home. When you sell your current house, the equity that comes back to you in the sale can be used toward the down payment on your next home.

    In other words, your purchasing power may be greater than you realize, making a move to a larger home a realistic option. That, plus your changing needs, might make moving now more desirable than ever.

    Bottom Line

    If you're a millennial thinking about moving this year, you're not alone. Let's connect today to discuss the equity you have in your current home and the opportunities it can create.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[Want Top Dollar for Your House? Now's the Time To List It.]]>

    When you're selling any item, you usually want to sell it for the greatest profit possible. That happens when there's a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you're thinking of selling your house this year, here are two reasons why now's the time to list.

    1. Demand Is Very Strong This Winter

    A recent article in Inman News explains:

    "Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists. . . . 'Home shopping season appears to already be in full swing!'"

    And they aren't the only ones saying buyers are already out in full force. That claim is backed up with data released last week by ShowingTime. The ShowingTime Showing Index tracks the average number of monthly buyer showings on active residential properties, which is a highly reliable leading indicator of current and future trends for buyer demand. The latest index reveals this December was the most active December in five years (see graph below):

    Want Top Dollar for Your House? Now's the Time To List It. | MyKCM

    As the data indicates, buyers are very active this winter. Last December saw even more showings than December of 2020, which was already a stronger-than-usual winter. And remember – you want to sell something when there's a strong demand for that item. That time is now.

    2. Housing Supply Is Extremely Low

    Each month, realtor.com releases data on the number of active residential real estate listings (listings currently for sale). Their most recent report reveals the latest monthly number is the lowest we've seen in any January since 2017 (see graph below):

    Want Top Dollar for Your House? Now's the Time To List It. | MyKCM

    And don't forget, the best time to sell an item is when there's a limited supply of it available. This graph clearly shows how extremely low the housing supply is today.

    Even Though Supply Is at a Historic Low, Home Sales Are at a 15-Year High

    According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), existing-home sales totaled 6.12 million in 2021 – the highest annual level since 2006. This means the market is hot and homeowners are in a great place to sell now while sales are so strong.

    NAR also reports available listings by calculating the current months' supply of inventory. They explain:

    "Months' supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace."

    The current 1.8-months' supply is the lowest ever reported. Here are the December numbers over the last five years (see graph below):

    Want Top Dollar for Your House? Now's the Time To List It. | MyKCM

    The ratio of buyers to sellers favors homeowners right now to a greater degree than at any other time in history. Buyer demand is high, and supply is low. That gives sellers like you an incredible opportunity.

    Bottom Line

    If you agree the best time to sell anything is when demand is high and supply is low, let's connect to begin discussing the process of listing your house today.

    *Source: Keeping Current Matters, Inc.

    ]]>     <![CDATA[5 DIY Valentine's Day Gift Ideas]]> Love is in the air!

    Let's craft up something special for your sweetheart, galentine, kid or loved one!

    Day At The Spa Gift Idea

    Pick up a cute Valentine's gift box with some festive tissue paper, and fill it up with spa-related products!

    Target gift box

    Breakfast In Bed

    Show your loved one how much you appreciate them with breakfast in bed.

    Date Night In

    Give your loved one the gift of total relaxation this Valentine's Day. Wine, a box of chocolates, flowers and a surprise small gift.

    Shop Chocolaterie Stam for some local chocolates!

    Heart-shaped Cinnamon Rolls

    Surprise them in the morning with these delicious heart-shaped cinnamon rolls!

    Recipe Idea Here

    Homemade Cookies

    Simply buy pink ribbon and a festive gift box and your cookies went from ordinary to amazing.

    Gift box ideas

    ]]>