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Don't Wait to Sell Your House! Buyers Are Out Now

Don’t Wait to Sell Your House! Buyers Are Out Now | MyKCM

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Renters Under 50 Want to Buy a Home!

Renters Under 50 Want to Buy a Home! | MyKCM

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Home Inspections: What to Expect

Home Inspections: What to Expect | MyKCM

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4 Reasons Why Today's Housing Market is NOT 2006 All Over Again

4 Reasons Why Today’s Housing Market is NOT 2006 All Over Again | MyKCM

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How Much Has Your Home Increased in Value Over the Last Year?

How Much Has Your Home Increased in Value Over the Last Year? | MyKCM

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Why Home Prices Are Increasing

Why Home Prices Are Increasing | MyKCM

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New Study Shows 'Best States for Millennials'

New Study Shows ‘Best States for Millennials’

A new study by WalletHub used “30 key metrics, ranging from share of millennials to millennial unemployment rate to millennial voter-turnout rate” to find out which states are the ‘Best States for Millennials.’


The Top 5 Best States for Millennials are:

Washington, D.C. (also ranks highest in percentage of millennials already living there!)

North Dakota (lowest unemployment rate)

Minnesota (highest millennial homeownership rate)

Massachusetts (highest percentage of millennials with health insurance coverage)

Iowa (ranked #1 in lowest housing cost for millennials)

Below is a map with the rankings for each of the 50 states:


New Study Shows ‘Best States for Millennials’ | MyKCM


We recently reported on a study that set out to find out “How Much You Need to Make to Buy a Home in Your State,” which may have left you wondering what the average salaries are in each of the five states listed above.


According to WalletHub’s research, the top 5 states with the Highest Average Millennial Salaries are:


Washington, D.C.

New York

Massachusetts

Washington

California

Every day, more and more millennials are aging into the ‘Responsibility Zone,’ the time in their lives when their responsibilities start to dictate their behaviors. For many, this includes buying a home. The top 5 states with the Highest Millennial Homeownership Rate are:


Minnesota

West Virginia

Indiana

Utah

Delaware

Bottom Line

If owning a home is next on your list, let’s get together to answer any questions you may have and set you on the path to homeownership!

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Thinking of Selling Your Home? Why You Need A Pro in Your Corner

Thinking of Selling Your Home? Why You Need A Pro in Your Corner

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How Much Do You Need to Make to Buy a Home in Your State?

How Much Do You Need to Make to Buy a Home in Your State?It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C.


States in the Midwest came out on top as most affordable, requiring the smallest salaries in order to buy a median-priced home. States with large metropolitan areas saw a bump in the average salary needed to buy with California, Washington, D.C., and Hawaii edging out all others with the highest salaries required.


Below is a map with the full results of the study:


How Much Do You Need to Make to Buy a Home in Your State? 


GoBankingRates gave this advice to anyone considering a home purchase,


“Before you buy a home, it’s important to find out if you can afford the monthly mortgage payment. To do this, some financial experts recommend your housing costs — primarily your mortgage payments — shouldn’t consume more than 30 percent of your monthly income.”


As we recently reported, research from Zillow shows that historically, Americans had spent 21% of their income on owning a median-priced home. The latest data from the fourth quarter of 2017 shows that the percentage of income needed today is only 15.7%!


Bottom Line

If you are considering buying a home, whether it’s your first time or your fifth time, let’s get together to evaluate your ability to do so in today’s market!

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Getting Pre-Approved Should Always Be Your First Step

Getting Pre-Approved Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.


Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream home is within your reach.


Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:


“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”


One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”


Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:


Capacity: Your current and future ability to make your payments

Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash

Collateral: The home, or type of home, that you would like to purchase

Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.


Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.

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What Is Private Mortgage Insurance (PMI)?

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What Should You Look for In Your Real Estate Team?

What Should You Look for In Your Real Estate Team?

How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender?


The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market.


As the financial guru Dave Ramsey advises:


“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”


Do your research. Ask your friends and family for recommendations of professionals they’ve worked with in the past and have had good experiences with.


Look for members of your team who will be honest and trustworthy; after all, you will be trusting them to help you make one of the biggest financial decisions of your life.


Whether this is your first or fifth time buying a home, you want to make sure that you have an agent who is going to have the tough conversations with you, not just the easy ones. If your offer isn’t accepted by the seller, or they think that there may be something wrong with the home that you’ve fallen in love with, you would rather know what they think than make a costly mistake.


According to the Home Buyer and Seller Generational Trends Report:


“Buyers from all generations primarily wanted their agent’s help to find the right home to purchase. Buyers were also looking for help to negotiate the terms of sale and to help with price negotiations.” Additionally, “Help understanding the purchase process was most beneficial to buyers 37 years and younger at 75 percent.”


Look for someone to invest in your family’s future with you. You want an agent who isn’t focused on the transaction but is instead focused on helping you understand the process while helping you find your dream home.


Bottom Line

In this world of Google searches, where it seems like all the answers are just a mouse-click away, you need an agent who is going to educate you and share the information that you need to know before you even know you need it.

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NOT Owning Your Home Can Cost You a Lot of Money!

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Buyer Demand Still Outpacing the Supply of Homes for Sale

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5 Reasons Why to Sell This Spring!

5 Reasons Why to Sell This Spring! | MyKCM

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Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices

Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices | MyKCM

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Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised!

Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised! | MyKCM

Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised!

CoreLogic’s latest Equity Report revealed that 675,000 US homeowners regained positive equity in their homes in 2017. This is great news for the country, as 95.1% of all mortgaged properties are now in a positive equity situation.

“U.S homeowners with mortgages (roughly 63% of all the properties) have seen their equity increase by a total of $908.4 billion since the fourth quarter 2016, an increase of 12.2%, year over year.”

Price Appreciation = Good News for Homeowners

Frank Nothaft, CoreLogic’s Chief Economist, explains:

“Home-price growth has been the primary driver of home-equity wealth creation. The CoreLogic Home Price Index grew 6.2 percent during 2017. The largest calendar-year increase since 2013. Likewise, the average growth in home equity was more than $15,000 during 2017, the most in four years.”

He also believes this is a great sign for the market in 2018, saying:

“Because wealth gains spur additional consumer purchases, the rise in home-equity wealth during 2017 should add more than $50 billion to U.S. consumption spending over the next two to three years.”  

This is great news for homeowners! But, do they realize that their equity position has changed?

A study by Fannie Mae suggests that many homeowners are not aware that they have regained equity in their homes as their investment has increased in value. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, CoreLogic’s report shows that only 4.9% of homes are in that position (down from 6.3% in Q4 2016).

The study also revealed that only 37% of Americans believe that they have “significant equity” (greater than 20%) when in actuality, 83% do!

Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised! | MyKCM

This means that 46% of Americans with a mortgage fail to realize the opportune situation they are in. With a sizeable equity position, many homeowners could easily move into a house (either larger or smaller) that better meets their current needs.

Fannie Mae spoke out on this issue in their report:

“Homeowners who underestimate their homes’ values not only underestimate their home equity, they also likely underestimate 1) how large a down payment they could make with their home equity, 2) their chances of qualifying for mortgages, and, therefore, 3) their opportunities for selling their current homes and for buying different homes.”

Bottom Line

If you are one of the many Americans who is unsure of how much equity you have built in your home, don’t let that be the reason you fail to move on to your dream home in 2018! Let’s get together to evaluate your situation!

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Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years

Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years | MyKCM

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7 Factors to Consider When Choosing A Home to Retire In

7 Factors to Consider When Choosing A Home to Retire In | MyKCM

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You Can Save for a Down Payment Faster Than You Think!

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A New Housing Bubble Forming... Not Before 2024!

A New Housing Bubble Forming…Not Before 2024! | MyKCM

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Home Prices: The Difference 5 Years Makes

Home Prices: The Difference 5 Years Makes | MyKCM

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Competition is Coming, Are You Thinking of Selling Your Home?

Competition is Coming, Are You Thinking of Selling Your Home? | MyKCM

Competition is Coming, Are You Thinking of Selling Your Home?

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.

How will this impact buyers? 

More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:

“This rise in single-family housing construction will help tame home price growth, and the increase in multifamily units should continue to help slow rent growth.”

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it
  2. A quick sale as buyers have so little to choose from
  3. Fewer hassles as buyers don’t want to “rock the boat” on the deal

With an increase in competition, the seller may not enjoy these same benefits. As Chief Economist Nela Richardson, added:

“Because existing home inventory has been so low for so long, new construction is taking a larger share of the market…Builders meet the buyers and see the demand firsthand.”

Bottom Line

If you are considering selling your house, you’ll want to beat this new competition to market to ensure you get the most attention for your listing and the best price.

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Housing Market Expected To "Spring Forward" This Year

Housing Market Expected To "Spring Forward" This Year | MyKCM

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Are Home Values Really Overinflated?

Are Home Values Really Overinflated? | MyKCM

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Is Now a Good Time to Rent?

Is Now a Good Time to Rent? | MyKCM

Is Now a Good Time to Rent?

People often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their 2017 fourth quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

Is Now a Good Time to Rent? | MyKCM

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let’s meet to determine if you are able to today!

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Latest NAR Data Shows Now Is a Great Time to Sell!

Latest NAR Data Shows Now Is a Great Time to Sell! | MyKCM

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2 Ways to Get the Most Money from The Sale of Your Home

2 Ways to Get the Most Money from The Sale of Your Home | MyKCM

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Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!

Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling! | MyKCM

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Calm Down! The Real Estate Market is NOT Falling Apart

Calm Down! The Real Estate Market is NOT Falling Apart | MyKCM

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Homeownership: "The Reports of My Death Have Been Greatly Exaggerated"

Homeownership: "The Reports of My Death Have Been Greatly Exaggerated" | MyKCM

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Where Are Mortgage Interest Rates Headed in 2018?

Where Are Mortgage Interest Rates Headed in 2018? | MyKCM

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Millionaire to Millennials: Don't Rent a Home... Buy!

Millionaire to Millennials: Don’t Rent a Home… Buy! | MyKCM

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U.S. Housing Inventory Crunch Continues... List Your House Today!

U.S. Housing Inventory Crunch Continues… List Your House Today! | MyKCM

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If You're Considering Selling, ACT NOW!!

If You’re Considering Selling, ACT NOW!! | MyKCM

If You’re Considering Selling, ACT NOW!!

Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

How did we finish 2017?

  1. New-home sales were at their highest level in a decade.
  2. Sales of previously owned homes were at their highest level in more than a decade.
  3. Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.

And Bloomberg Business just reported:

“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.” 

And the National Association of Realtors revealed that buyer traffic is stronger this winter than it was during the spring buying season last year.

The only challenge to the market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a four-month supply of inventory. This represents a decrease in supply of 9.7% from the same time last year.

Bottom Line

With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together to see whether that is the case in your neighborhood.

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Why You Need a Professional on Your Team When Buying a Home

Why You Need a Professional on Your Team When Buying a Home | MyKCM

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Buying A Home Is More Affordable Than Renting In 54% Of US Counties

Buying A Home Is More Affordable Than Renting In 54% Of US Counties | MyKCM

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What Impact Will the New Tax Code Have on Home Values?

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61% of First-Time Buyers Put Down Less than 6%

61% of First-Time Buyers Put Down Less than 6% | MyKCM

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Wondering If You Can Buy Your First Home?

Wondering If You Can Buy Your First Home?

There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family, others might think they are too young, and still, others might think their current income would never enable them to qualify for a mortgage.

We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first-time buyer:

Wondering If You Can Buy Your First Home? | MyKCM

Bottom Line

You may not be much different than many people who have already purchased their first homes. Let’s meet to determine if your dream home is within your grasp.

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93% Believe Homeownership Is Important in Attaining the American Dream

93% Believe Homeownership Is Important in Attaining the American Dream | MyKCM

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712,000 Homes in the US Regained Equity in the Past 12 Months!

712,000 Homes in the US Regained Equity in the Past 12 Months! | MyKCM

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The Benefits of Homeownership Go Beyond the Financial

The Benefits of Homeownership Go Beyond the Financial | MyKCM

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How Rising Prices Will Help You Build Family Wealth in 2018

How Rising Prices Will Help You Build Family Wealth in 2018 | MyKCM

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Buying or Selling in 2018? 5 Reasons to Resolve to Hire a Pro

Buying or Selling in 2018? 5 Reasons to Resolve to Hire a Pro [INFOGRAPHIC] | MyKCM

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There's More to a Bubble Than Rising Home Prices

There's More to a Bubble Than Rising Home Prices | MyKCM

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Top 4 REAL Reasons We Buy a Home

Top 4 REAL Reasons We Buy a Home | MyKCM

Top 4 REAL Reasons We Buy a Home

We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers stability to start and raise a family

From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their minds as a major reason for choosing the location of the home that they purchase.

2. There’s no place like home

Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

3. You have more space for you and your family

Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

4. You have control over renovations, updates, and style

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit for your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?

Bottom Line

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.

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Rents Are on the Rise: Don't Get Caught in the Rental Trap!

Rents Are on the Rise: Don't Get Caught in the Rental Trap! | MyKCM

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4 Reasons to Buy a Home This Winter!

4 Reasons to Buy a Home This Winter! | MyKCM

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Home Prices Up 6.54% Across the Country!

Home Prices Up 6.54% Across the Country! [INFOGRAPHIC] | MyKCM

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Homeowners: Do You Know Your Home's Value?

Homeowners: Do You Know Your Home’s Value? | MyKCM

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

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

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Empty Nesters: Best to Remodel or Time to Sell?

Empty Nesters: Best to Remodel or Time to Sell? | MyKCM


Empty Nesters: Best to Remodel or Time to Sell?

Your children have finally moved out and you and your spouse now live alone in a four-bedroom colonial (or a similar type of house). You have two choices to make:

  1. Remodel your house to fit your current lifestyle and needs
  2. Sell your house and purchase the perfect home

Based on the record of dollars spent on remodeling and renovations, it appears that many homeowners are deciding on number one. But, is that the best long-term solution?

If you currently live in a 3-4-bedroom home, you probably bought it at a time when your children were the major consideration in determining family housing needs. Along with a large home, you more than likely also considered school district, the size of the property and the makeup of other families living in the neighborhood (example: you wanted a block with other kids your children could play with and a backyard large enough to accommodate that).

Remodeling your home to meet your current needs might mean combining two bedrooms to make one beautiful master suite and changing another bedroom into the massive walk-in closet you always wanted. However, if you live in a neighborhood that historically attracts young families, you may be dramatically undermining the value of your house by cutting down the number of bedrooms and making it less desirable to the typical family moving onto your block.

And, according to a recent study, you will recoup only 64.4% of a remodeling project’s investment dollars if you sell in the future.

Your home is probably at its highest value as it stands right now. Instead of remodeling your house, it may make better financial sense to sell your current home and purchase a home that was built specifically to meet your current lifestyle and desires.

In many cases, this well-designed home will give you exactly what you want in less square footage (read less real estate taxes!) than your current home.

Bottom Line

If you are living in a house that no longer fits your needs, at least consider checking out other homes in your area that would meet your lifestyle needs before taking on the cost and hassle of remodeling your current house.

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Where Are the Home Prices Heading in The Next 5 Years?

Where Are the Home Prices Heading in The Next 5 Years? | MyKCM

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Don't Disqualify Yourself... 52% of Approved Loans Have A FICO® Score Under 750

Don’t Disqualify Yourself… 52% of Approved Loans Have A FICO® Score Under 750 | MyKCM

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Want to Keep up with the Joneses? Now's the Time

Want to Keep Up with the Joneses? Now’s the Time | MyKCM

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Study: FSBOs Don't Save Real Estate Commission

Study: FSBOs Don’t Save Real Estate Commission | MyKCM

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More Boomerang Buyers Are about to Enter the Market

More Boomerang Buyers Are about to Enter the Market | MyKCM

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Homeowner's Net Worth Is Still Greater Than a Renter's

Homeowner’s Net Worth Is Still Greater Than a Renter’s | MyKCM

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Hey, Millennial Homeowners!! It May Be Time to Sell

Hey, Millennial Homeowners!! It May Be Time to Sell | MyKCM

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93.9% Of Homes in The US Have Positive Equity

93.9% Of Homes in The US Have Positive Equity | MyKCM

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Do Your Future Plans Include a Move? What's Stopping You from Listing Now?

Do Your Future Plans Include a Move? What's Stopping You from Listing Now? | MyKCM

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Be Careful Not to Get Caught in The Rental Trap!

Be Careful Not to Get Caught in The Rental Trap! | MyKCM

Read More

Buyer Demand Continues Outpacing the Supply of Homes for Sale

Buyer Demand Continues Outpacing the Supply of Homes for Sale | MyKCM

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A 'Buyer' in Hand is Worth Two in the Bush

A ‘Buyer’ in Hand is Worth Two in the Bush | MyKCM

A ‘Buyer’ in Hand is Worth Two in the Bush


In today’s highly competitive seller’s market where there are more buyers than there are homes for them to buy, some sellers may feel like the ball is in their court.

And they would be right when it comes to choosing which offer to accept, the closing date, or even which improvements they are willing to make to their house prior to selling.

One thing to remember though, is that there is always a line that shouldn’t be crossed.

Interest rates can change, financing might not go through, the appraisal might not come back at the price that you have agreed to. These are all opportunities to work with your buyer to make sure that the sale still happens.

You may think that, because buyer demand is so high right now, you can choose to make your buyer jump through hoops. But what happens if they reach their limit and need to walk away? You’re starting over… weeks, maybe months later… and other buyers may wonder what’s wrong with the house since the last deal fell through.

The Golden Rule

We were all taught from a young age to “treat others as you would like to be treated.” This shouldn’t change once you have a buyer who seems as though they would do anything to buy your home.

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3 Tips to Succeed in Today's Real Estate Market

3 Tips to Succeed in Today’s Real Estate Market | MyKCM

Read More

NAR Data Shows Now Is a Great Time to Sell!

NAR Data Shows Now Is a Great Time to Sell! | MyKCM

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75% of Homeowners Think Now is a Good Time to Sell!

75% of Homeowners Think Now is a Good Time to Sell! | MyKCM

Read More

Pre-Approval Should Always Be Your First Step

Pre-Approval Should Always Be Your First Step | MyKCM

Read More

2 Myths Holding Back Home Buyers

2 Myths Holding Back Home Buyers | MyKCM

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The Importance of Home Equity in Retirement Planning

The Importance of Home Equity in Retirement Planning | MyKCM

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The Supply & Demand Problem Plaguing New Construction

The Supply & Demand Problem Plaguing New Construction | MyKCM

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69% of Buyers are Wrong About Down Payment Needs

69% of Buyers are Wrong About Down Payment Needs | MyKCM

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5 Reasons You Should Sell This Summer

5 Reasons You Should Sell This Summer | MyKCM

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Can Your Real Estate Agent Answer These Important Questions?

Can Your Real Estate Agent Answer These Important Questions? | MyKCM

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5 Reasons to Hire a Real Estate Professional When Buying or Selling!

5 Reasons to Hire a Real Estate Professional When Buying or Selling! | MyKCM

5 Reasons to Hire a Real Estate Professional When Buying or Selling!


Whether you are buying or selling a home it can be quite an adventurous journey, which is why you need an experienced real estate professional to guide you on the path to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

The 5 reasons you NEED a real estate professional in your corner haven’t changed, but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperworknecessary to make your dream a reality.

2. Ok, so you found your dream house, now what?

There are over 180 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to make sure that you achieve your dream?

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. After looking at the list of parties that you will need to be prepared to negotiate with, you’ll soon realize the value in selecting a real estate professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people who you will need to be knowledgeable of, and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the amount of time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to the National Association of REALTORS, “the typical FSBO home sold for $185,000 compared to $245,000 among agent-assisted home sales.”

Get the most out of your transaction by hiring a professional.

5. Do you know what’s really going on in the market?

There is so much information out there on the news and the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively, and correctly, price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line

You wouldn’t replace the engine in your car without a trusted mechanic. Why would you make one of the most important financial decisions of your life without hiring a real estate professional?


Read More

Do You Know the Cost of NOT Owning Your Home?

Do You Know the Cost of NOT Owning Your Home? | MyKCM

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3 Reasons the Housing Market is NOT in a Bubble

3 Reasons the Housing Market is NOT in a Bubble | MyKCM

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Financial Planning: 4 Reasons to Buy a House Today

Financial Planning: 4 Reasons to Buy a House Today | MyKCM

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Buying a Home? Do You Know the Lingo?

Buying a Home? Do You Know the Lingo? | MyKCM

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Where Are the Home Prices Heading in the Next 5 Years?

Where Are the Home Prices Heading in the Next 5 Years? | MyKCM

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The Impact of Homeownership on Family Health

The Impact of Homeownership on Family Health | MyKCM

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Are You 1 of the 59 Million Planning to Buy This Year?

Are You 1 of the 59 Million Planning to Buy This Year? | MyKCM


Are You 1 of the 59 Million Planning to Buy This Year?

According to a survey conducted by Bankrate.com, one in four Americans are considering buying a home this year. If this statistic proves to be true, that means that 59 million people will be looking to enter the housing market in 2017.

The survey also revealed 3 key takeaways:

  1. Those most likely to buy are ‘Older Millennials’ (ages 27-36) or ‘Generation X’ (ages 37-52)
  2. Minorities, particularly African-Americans, were twice as likely to respond that they were considering purchasing a home this year than white respondents.
  3. Many potential buyers believe they need to put 20% down and need to have perfect credit to own and are unaware of programs that would allow them to buy now.

Holden Lewis, a mortgage analyst for Bankrate.com, pointed to one big reason why many Americans are starting to consider homeownership:

“Having kids and raising a family is a primary reason why Americans take the leap into homeownership—many consider it a key component of the American dream.”

Bottom Line

If buying a home is a part of your dream for 2017, let’s get together to determine if you are able to.

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Access: A Key Component in Getting Your House SOLD!

Access: A Key Component in Getting Your House SOLD! | MyKCM

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US Housing Market Is Moving into "Buy Territory'!

US Housing Market Is Moving into 'Buy Territory'! | MyKCM

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The Impact of Homeownership on Civic Involvement

The Impact of Homeownership on Civic Involvement | MyKCM

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The Great News About Rising Prices for Homeowners

The Great News About Rising Prices for Homeowners | MyKCM

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First Comes Love... Then Comes Mortgage?

First Comes Love… Then Comes Mortgage? | MyKCM

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3 Questions to Ask If You Want to Buy Your Dream Home

3 Questions to Ask If You Want to Buy Your Dream Home | MyKCM

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Listing in the Winter Attracts More Serious Buyers

Listing in the Winter Attracts More Serious Buyers | MyKCM

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The Impact of Homeownership on Educational Achievement

The Impact of Homeownership on Educational Achievement | MyKCM

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Buyers Are Searching For Your House

Buyers Are Searching For Your House | MyKCM

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Homeownership Offers Stability & Wealth Creation

Homeownership Offers Stability & Wealth Creation | MyKCM

Homeownership Offers Stability & Wealth Creation


The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:

  1. They want the opportunity to build equity.
  2. They want a stable and safe environment.

Building Equity

In a recent article by The Mortgage Reports, they report that “buying and owning a home is the essence of ‘The American Dream.’ Each month, your housing payments go toward owning your home instead of renting it; building your personal wealth and assets instead of someone else’s.

History has shown that homeownership is a clear path to wealth-building, with homeowners boasting a net worth [that is] multiples higher than the net worth of renters.”  

Family Stability 

Does owning your home really create a more stable environment for your family?

A survey of property managers conducted by rent.com disclosed two reasons tenants should feel less stable with their housing situation:

  • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than to negotiate and renew a lease with a current tenant they already know.

We can see from these survey results that renting will provide anything but a stable environment in the near future.

Bottom Line

Homeowners enjoy a more stable environment, and at the same time are given the opportunity to build their family’s net worth.

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Lack of Homes for Sale Slowing Down the Housing Market

Lack of Homes for Sale Slowing Down the Housing Market | MyKCM

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Daydreaming About Your Perfect Home? Know What You WANT vs. What You NEED

Daydreaming About Your Perfect Home? Know What You WANT vs. What You NEED | MyKCM

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No Matter What the Groundhog Says, Here are 5 Reasons to Sell Before Spring!

No Matter What the Groundhog Says, Here are 5 Reasons to Sell Before Spring! | MyKCM

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Buyer Demand Is Outpacing the Supply of Homes for Sale

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Thinking of Making an Offer? 4 Tips for Success

Thinking of Making an Offer? 4 Tips for Success | MyKCM

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2 Myths That May Be Holding Back Buyers

2 Myths That May Be Holding Back Buyers | MyKCM

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What to Expect From Your Home Inspection

What to Expect From Your Home Inspection | MyKCM

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Thinking of Selling? Why Now is the Time

Thinking of Selling? Why Now is the Time | MyKCM

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Buying a Home is More Affordable Than Renting in 66% of US Counties

Buying a Home is More Affordable Than Renting in 66% of US Counties | MyKCM

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How Low Interest Rates Increase Your Purchasing Power

How Low Interest Rates Increase Your Purchasing Power | MyKCM

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Have You Saved Enough for Closing Costs?

Have You Saved Enough for Closing Costs? | MyKCM

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Will Housing Affordability Be a Challenge in 2017?

Will Housing Affordability Be a Challenge in 2017? | MyKCM

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What Would a Millennial Baby Boom Mean for Housing?

What Would a Millennial Baby Boom Mean for Housing? | MyKCM

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5 Myths About Real Estate Reality TV Explained

5 Myths About Real Estate Reality TV Explained | MyKCM

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Why Pre-Approval Should Be Your First Step

Why Pre-Approval Should Be Your First Step | MyKCM

Why Pre-Approval Should Be Your First Step


In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. 

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.” 

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

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Is This the Year to Move Up to Your Dream Home? If So, Do it Early

Is This the Year to Move Up to Your Dream Home? If So, Do it Early | MyKCM

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Top 3 Things Second-Wave Baby Boomers Look for in a Home

Top 3 Things Second-Wave Baby Boomers Look for in a Home | MyKCM

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You Need a Professional on Your Team When Buying a Home

You Need a Professional on Your Team When Buying a Home | MyKCM

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If Your Home Hasn't Sold Yet... Check the Price!

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3 Tips for Making Your Dream of Buying a Home Come True

3 Tips for Making Your Dream of Buying a Home Come True [INFOGRAPHIC] | MyKCM

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Millionaire to Millennials: Buy a Home!!

Millionaire to Millennials: Buy a Home!! | MyKCM

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Year-Over-Year Sales Increases Reach Double Digits in 5 Price Categories

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Inadequate Inventory Driving Prices Up

Inadequate Inventory Driving Prices Up | MyKCM

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Here's to a Wonderful 2017!

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Start 2017 Off Right... List Your House for Sale

Start 2017 Off Right… List Your House for Sale | MyKCM

Start 2017 Off Right… List Your House for Sale


As we are about to bring in the New Year, families across the country will be deciding if this is the year that they will sell their current house and move into their dream home. Many will decide that it is smarter to wait until the spring “buyer’s market” to list their house. In the past, that might have made sense. However, this winter is not like recent years.

The recent jump in mortgage rates has forced buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Here is a chart showing the decrease in inventory levels by category:

Start 2017 Off Right… List Your House for Sale | MyKCM

Bottom Line

Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the time.

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Start 2017 Off Right... List Your House for Sale

Start 2017 Off Right… List Your House for Sale | MyKCM

Start 2017 Off Right… List Your House for Sale


As we are about to bring in the New Year, families across the country will be deciding if this is the year that they will sell their current house and move into their dream home. Many will decide that it is smarter to wait until the spring “buyer’s market” to list their house. In the past, that might have made sense. However, this winter is not like recent years.

The recent jump in mortgage rates has forced buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Here is a chart showing the decrease in inventory levels by category:

Start 2017 Off Right… List Your House for Sale | MyKCM

Bottom Line

Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the time.

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You Need an Agent Who Will Put You First

You Need an Agent Who Will Put You First | MyKCM

You Need an Agent Who Will Put You First


When it comes to buying a home, whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move into, as well as the trends of that area, should be your goal.

One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC’s Modern Family, Phil Dunphy.

For those who aren’t familiar, the character Phil is a Realtor with a huge heart who always strives to do his best for his family and his clients.

In one recent episode, Phil even shared the oath that he created and holds himself accountable to:

"On my honor, I promise to aid in man's quest for shelter, to recognize I'm not just in the business of houses -- I'm in the business of dreams in the shape of houses. To disclose all illegal additions, shoddy construction, murders, and ghosts. And to put my clients' needs before my own." 

While this might seem silly, and it was definitely written with humor in mind, the themes of helping someone achieve the American Dream and putting a client's needs above your own are not to be taken lightly. 

Bottom Line

When you make the decision to enter the housing market, as either a buyer or a seller, make sure you look for an agent who exemplifies these values and will help you through every step of the process.

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Winter Is Coming... 5 Reasons to Sell Now!

Winter Is Coming… 5 Reasons to Sell Now! | MyKCM

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You Can Never Have TMI about PMI

You Can Never Have TMI about PMI | MyKCM

You Can Never Have TMI about PMI


When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase a home with a down payment below 20%, you can never have Too Much Information (TMI) about Private Mortgage Insurance (PMI).

What is Private Mortgage Insurance (PMI)?

Freddie Mac defines PMI as:

“An insurance policy that protects the lender if you are unable to pay your mortgage. It's a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%. 

Once you've built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”

As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac goes on to explain that:

“The cost of PMI varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.” 

According to the National Association of Realtors, the average down payment for all buyers last year was 10%. For first-time buyers, that number dropped to 6%, while repeat buyers put down 14% (no doubt aided by the sale of their home). This just goes to show that for a large number of buyers last year, PMI did not stop them from buying their dream homes.

Here’s an example of the cost of a mortgage on a $200,000 home with a 5% down payment & PMI, compared to a 20% down payment without PMI:

You Can Never Have TMI about PMI | MyKCM

 

The larger the down payment you can make, the lower your monthly housing cost will be, but Freddie Mac urges you to remember:

“It's no doubt an added cost, but it's enabling you to buy now and begin building equity versus waiting 5 to 10 years to build enough savings for a 20% down payment.”

Bottom Line

If you have questions about whether you should buy now or wait until you’ve saved a larger down payment, let’s get together to discuss our market’s conditions and to help you make the best decision for you and your family.

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The Truth About Housing Affordability

The Truth About Housing Affordability | MyKCM

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The Dangers of "Tight Mortgage Credit" Headlines

The Dangers of “Tight Mortgage Credit” Headlines | MyKCM

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It's Not Always Marriage Before Mortgage

It’s Not Always Marriage Before Mortgage | MyKCM

It’s Not Always Marriage Before Mortgage



There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family. Others may think they are too young. And still, others might think their current income would never enable them to qualify for a mortgage.

We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here are some interesting statistics on the first-time buyer:

It’s Not Always Marriage Before Mortgage | MyKCM

Unmarried couples jumped up to the third spot, right after their married counterparts and single women. Many couples are buying a home before spending what would be a down payment on a wedding.

Bottom Line

You may not be much different than many people who have already purchased their first home. Let's get together to determine if your dream home is within your grasp.

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NAR Reports Show Now Is a Great Time to Sell!

NAR Reports Show Now Is a Great Time to Sell! | MyKCM

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Think All Millennials Live in Their Parent's Basement? Think Again!

Think All Millennials Live in Their Parent's Basement? Think Again! | MyKCM

Think All Millennials Live in Their Parent's Basement? Think Again!


According to the Census Bureau, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America's youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million.

There has been a lot of talk about how, as a generation, millennials have ‘failed to launch’ into adulthood and have delayed moving out of their family’s home. Some experts have even questioned whether or not millennials wantto move out.

The great news is that not only do millennials want to move out… they aremoving out! The National Association of Realtors (NAR) recently released their 2016 Profile of Home Buyers and Sellers in which they revealed that 61% of all first-time homebuyers were millennials in 2015!  

The median age of all first-time buyers in 2015 was 31 years old. 

Here is chart showing the breakdown by age:

Think All Millennials Live in Their Parent's Basement? Think Again! | MyKCM

Many social factors have contributed to millennials waiting to buy their first home. The latest Census results show that the median age of Americans at the time of their first marriage has increased significantly over the last 60 years, from 23 for men & 20 for women in 1955, to 29 & 27, respectively, in 2015.

Those who went to college and took out student loans are finally paying them off, as the terms on traditional student loans are 10 years. This means that a large portion of the generation is making its last loan payments and is working toward saving for a first home.

As a whole, the first-time homebuyer share increased to 35% of all buyers, up from 32% in 2014. Not all millennials are first-time buyers, they also made up 12% of all repeat buyers!

Bottom Line

Millennials will continue to drive the housing market next year, as well as in the years to come. As more and more realize that owning a home is within their grasp, they will flock to own their piece of the American Dream. Are you ready to buy your first or even second home?

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How Long Do Families Stay in a Home?

How Long Do Families Stay in a Home? | MyKCM

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Buying a Home? 4 Demands to Make on Your Real Estate Agent

Buying a Home? 4 Demands to Make on Your Real Estate Agent | MyKCM

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Percentage of Homeownership by Decade and by State

Percentage of Homeownership by Decade and by State | MyKCM

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