June 2021

Found 27 blog entries for June 2021.

What Do Experts See on the Horizon for the Second Half of the Year? | MyKCM

 

As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon?

Mortgage Rates Will Likely Increase, but Remain Low

Many experts are projecting a rise in interest rates. The latest Quarterly Forecast from Freddie Mac states:

We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.”

However, even as mortgage rates

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Save Time and Effort by Selling with an Agent | MyKCM

 

Selling a house is a time-consuming process – especially if you decide to do it on your own, known as a For Sale By Owner (FSBO). From conducting market research to reviewing legal documents, handling negotiations, and more, it’s an involved and highly detailed process that requires a lot of expertise to navigate effectively. That’s one of the reasons why the percentage of people selling their own house has declined from 19% to 8% (See graph below):Save Time and Effort by Selling with an Agent | MyKCMTo help you understand just how much time and effort it takes to sell on your own, here’s a look at a few of the things you need to think about before putting that “For Sale” sign up in your yard.

1. Making a Good First Impression

While it may sound simple, there are a lot of proven best

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What To Expect as Appraisal Gaps Grow | MyKCM

 

In today’s Bend real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates:

“The frequency of buyers being willing to pay more than the market data supports is increasing.”

While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t match up with the appraisal for the house. It’s called an appraisal gap, and it’s happening more in today’s market than the norm.

According to recent data from CoreLogic, 19% of homes had their appraised value come

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Homebuyers: Hang in There [INFOGRAPHIC] | MyKCM

 

Some Highlights

  • Today’s sellers’ market provides unique challenges—and benefits—for buyers.
  • Current low interest rates won’t last forever, and home prices are forecast to rise.
  • If you’re a homebuyer, hang in there. Homeownership improves your quality of life, and the long-term benefits outweigh the short-term challenges.
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Demand for Vacation Homes Is Still Strong | MyKCM

 The pandemic created a tremendous interest in vacation homes across the country. Throughout the last year, many people purchased second homes as a safe getaway from the challenges of the health crisis. With many professionals working from home and many students taking classes remotely, it made sense to see a migration away from cities and into counties with more vacation destinations.

The 2021 Vacation Home Counties Report from the National Association of Realtors (NAR) shows that this increase in vacation home sales continues in 2021. The report examines sales in counties where “vacant seasonal, occasional, or recreational use housing account for at least 20% of the housing stock” and compares that data to the overall residential market.

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Homeowner Wealth Increases Through Growing Equity This Year | MyKCM

 Building financial wealth and stability remains one of the top reasons Americans choose to own a home, and as a homeowner, your wealth often grows without you even realizing it. In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing, author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments:

“The principal portion that reduces the loan balance builds the homeowner’s equity. In doing so, the principal payments behave like an automatic savings account. The principal payment is not money going out; it is money staying in.”

But home equity – the difference between the value of your home and what you currently owe – isn’t just built

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Pre-Approval Makes All the Difference When Buying a Home | MyKCM

 You may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s red hot Bend real estate market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of your budget so you stand out to sellers as a serious homebuyer.

Being intentional and competitive are musts when buying a home right now. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an

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Iron Mountain Wildflower Hike is Always Special

Iron Mountain hike Oregon

According to the US Department of Agriculture and the US Forest Service, nearly every wildflower found in the Western Cascades - over 300 species - can be found along the Iron Mountain Trail. There are five main factors which create the specific habitats for wildflowers: soil depth and type, moisture, amount of sunlight, daytime temperature ranges and elevation. These factors combine beautifully to create one of the most spectacular wildflower habitats in Oregon at Iron Mountain. Late June/early July is the best time to view the Iron Mountain wildflowers - and when you add in the extended 6.9 mile loop hike from Tombstone Summit through the Cone Peak Trail, up Iron Mountain, the 1900 feet of elevation

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In the recent weeks, we have been driving on Galveston and noticing a random sign over The Dough Nut shop. The sign only seemed to appear after The Dough Nut had closed, so we simply had to know more. Walking by, the delectable smell of pizza filled the air and our curiosity grew even more. The pop up sign read "Fratelli" and we knew we had a new underground pizza place to try. 

Fratelli Pies features artisan Neapolitan black market pies made with simple ingredients and in-house cured & smoked meats. The simplicity of these pies only enhances the flavors and makes the pizza a delight to the taste buds. Ordering these pizzas was very simple. We simply found their webpage or Facebook page, clicked the order button, selected what we wanted, paid online,

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5 Things Homebuyers Need To Know When Making an Offer | MyKCM

 

When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in mind when you’re ready to make an offer.

1. Know Your Numbers

Having a complete understanding of your budget and how much house you can afford is essential. That’s why you should connect with a lender to get pre-approved for a loan early in the homebuying process. Taking this step shows sellers you’re a serious, qualified buyer and can give you a competitive edge in a bidding war.

2. Brace for a Fast Pace

Today’s market

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