February 2021

Found 24 blog entries for February 2021.

It’s a Sellers’ Market [INFOGRAPHIC] | MyKCM

 

Some Highlights

  • Over the past year, homeowners have gained an unprecedented opportunity to sell with great success while buyer demand is soaring.
  • With homes selling twice as fast as they did last year at this time, getting multiple offers, and rising in price, homeowners are in the driver’s seat.
  • Let’s connect today if you’re ready to learn about the leverage you have as a seller in today’s housing market.
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For a blast of flavor, a bite of paradise, and a tingle of spice, look no further. Our food journey has brought us to one of the newest food trucks in town and this did not disappoint. The new Shimshon Food Truck, featuring Israeli street food in the Mid Town Yacht Club, was such a wonderful taste experience that we highly recommend it if you are looking for something with a totally different flavor profile. 

When we arrived at the Yacht Club, we instantly spotted where we were to have lunch. The truck was so wonderfully decorated with brightly colored pomegranates and a fun two tone paint job. We appreciated the simple menu and explanations of what the sauces were on the menu board. Needless to say, we wanted to try a few different items and each was

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Are There Going to Be More Homes to Buy This Year? | MyKCM

 

If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, inventory of available homes for sale is at an all-time low – the lowest point recorded since NAR began tracking this metric in 1982. There are, however, more homes expected to hit the market later this year. Let’s break down the three key places they’ll likely come from as 2021 continues on.

1. Homeowners Who Didn’t Sell Last Year

In 2020, many sellers decided to pause their moving plans for a number of different reasons. From health concerns

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How Much Leverage Do Today's House Sellers Have? | MyKCM

 

The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%. There are 360,000 fewer single-family homes for sale today than there were at this time last year. This increase in demand coupled with such limited supply is leading to more bidding wars throughout the country.

Rose Quint, Assistant Vice President for Survey Research with the National Association of Home Builders (NAHB), recently reported:

“The number one reason

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The Reason Mortgage Rates Are Projected to Increase and What It Means for You | MyKCM

 

We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there’s no guarantee rates will remain this low much longer.

Whenever we try to forecast mortgage rates, we should consider the advice of 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.”

Many things impact mortgage

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Where Have All the Houses Gone? | MyKCM

 In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale, Chief Economist at realtor.com, explains:

“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point in time continues to drop lower. In January as a

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Bend Premier Real Estate

Following a record breaking year in 2020, fueled largely by the influx of workers desiring to work from home in a more desirable location after being locked down by the coronavirus, Bend Premier Real Estate took some time out to celebrate the success of our hard working Premier Agents at our 2020 Broker Awards. Even the ceremony itself was a bit different this year being held entirely online, but the achievements of our brokers was no less impressive with 21 individual and 3 team awards being given out.

BEND PREMIER REAL ESTATE AGENTS TOP HONORS

Gold Level Awards (5-10 million dollar producers)

  •        Katharine Miller
  •        Tina Roberts
  •        Elizabeth Ueland
  •        Diane Lozito
  •        Rob Lindberg
  •        Kelly Johnson
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Home Mortgage Rates by Decade [INFOGRAPHIC] | MyKCM

 

Some Highlights

  • Mortgage interest rates have dropped considerably over the past year, and compared to what we’ve seen in recent decades, it’s a great time to buy a home.
  • Locking in a low rate today could save you thousands of dollars over the lifetime of your home loan, but these low rates may not last forever.
  • If you’re in a position to buy a home, let’s connect to determine your best move in today’s housing market while interest rates are still in your favor.
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Will Low Mortgage Rates Continue through 2021? | MyKCM

 

With mortgage interest rates hitting record lows so many times recently, some are wondering if we’ll see low rates continue throughout 2021, or if they’ll start to rise. Recently, Freddie Mac released their quarterly forecast, noting:

“The average 30-year fixed-rate mortgage hit a record low over a dozen times in 2020 and the low interest rate environment is projected to continue through this year. We expect interest rates to average below 3% through the end of 2021. While this is a modest rise from 2020 averages, the recent vote by the Federal Reserve to keep interest rates anchored near zero should keep rates low.”

As shown in the graph below, Freddie Mac is projecting low rates going forward with a modest rise that’s expected to

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3 Ways Home Equity Can Have a Major Impact on Your Life | MyKCM

 There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years. CoreLogic indicated that equity increased for the average homeowner by $17,000 in the last year alone. ATTOM Data Solutions, in their latest U.S. Home Equity Report, revealed that 30.2% of the 59 million mortgaged homes in the United States have at least 50% equity. That doesn’t even include the 38% of homes that are owned free and clear, meaning they don’t have a mortgage at all.

How can equity help a household?

Having equity in your home can dramatically impact your life. Equity is like a savings account you can tap

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