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Date Archives: December 2021

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December
31

5 Money Moves to Make Before the End of the Year

As we close in on the end of the year, it's natural to be thinking about the holiday season and all the travel, parties and family fun that comes with it. But it's also the time to take stock of your finances, decide what's working and what is not, and what you can do to get 2022 off to a good financial start. Here are five strategic money moves you should be making now.

Review and Update Your Goals – What's gone well financially in the past year? What has gone less well than you'd hoped? How have your life and priorities changed, and what money decisions need to change with them? If setting sound financial strategies is new to you—or even they aren't—start reading and learning now.

Maximize Your Opportunities – Saving for retirement and for financial independence is critical. If you have a 401(k), you have until Dec. 31 to contribute to the maximum allowed. If you have an IRA, you have until April 15 of next year to make your maximum contribution—but you should plan now to revisit your decision about whether a traditional or a Roth IRA will work best for you next year. Review your health savings account (HSA) or consider starting one, and if you are self-employed and don't have one, look into opening a retirement account through your business.

Optimize Employee Benefits – The end of the year is open enrollment season. Carefully review the packet of information sent to you by your employer so you can make the most of financial opportunities regarding savings and insurance, as well as legal services and other perks that may be available.

Use Any Remaining FSA Funds – Most FSA funds assert that any money still in your account at the end of the year is no longer available to you. Use the last weeks of 2021 to get those new glasses or visit the dentist before those funds run out.

Make a Holiday Plan – The holidays can be a huge money drain. To help you stay on top of your financial goals, budget now for holiday travel, gift-giving and entertainment, and resolve to stick with your plan.

December
30

Your Blueprint for Celebrating a Relaxing New Year's Eve at Home

The holidays are magical, festive, and exhausting. After a season of year-end deadlines, holiday parties, school events and extended time with the in-laws, celebrating New Year's Eve in anything other than a cashmere jumpsuit on the Cloud Sofa can feel daunting. So, whether you spend the evening in solitude, with your significant other, or with an intimate group of friends, here are a few ways to make the evening feel extra special yet cozy.

Dress the Part
The best part about spending a cozy NYE at home is being able to dress comfortably. So, whether you wear head-to-toe cashmere or you step it up by pairing your faux leather leggings with an oversized button-down, keep comfort top-of-mind. And, let the high heels sit out this NYE in exchange for a pair of faux-fur lined Birdies.

Create the Ambiance
Whether it's relaxing, soft and cozy, or energetic and lively, decide the vibe you want your NYE to have, considering the following ambient elements:

  • Create a playlist that reflects this vibe (or find an already curated list on Spotify).
  • Select a scent, whether it's an energizing citrus blend, or a relaxing lavender aroma.
  • Layer the lighting, dim the recessed lighting and let the layers of task lighting and candlelight illuminate the room.
  • Display seasonal florals and greenery, such as evergreens, amaryllis and camellias.

Set the Bar
Create an entirely self-serve beverage station. Consider serving a signature cocktail to reduce the number of open bottles, uncork the wine and have all barware and garnishes available for easy self-service. Don't forget a mocktail option if you're looking to start New Year's resolutions early.

Indulge in the Best
Whether you're serving home-cooked surf and turf, or you're ordering takeout from your favorite local restaurant, an evening spent celebrating the past year and welcoming in the new one is the perfect occasion to bring out the lovely china. Serve the wine family style, so you can sit and enjoy a leisurely meal.

Layer the Textiles
After an indulgent meal, gathering around the fire to watch a movie, play a game or enjoy conversation and laughs can feel like a true luxury. Wool carpet or rugs underfoot, a stack of cashmere blankets, oversized faux fur throw pillows and sheepskin throws can provide unparalleled comfort during an evening spent at home.

Take in the Fresh Air
Ring in the new year under the stars, whether you live in a warm climate or you fire up the outdoor heaters. Brew up a batch of hot toddies, light up the outdoor fireplace, pile on the fur blankets and countdown to the new year in the fresh air.

Plan for the Year Ahead
If planning is your key for relaxation, get ahead of your new year's resolutions by setting your intentions for the year ahead and thinking about your upcoming goals and ambitions. Then, when you wake up on the first of the year, you will already feel like you have a jump start on a fresh start.

December
29

Expert Insights on the 2022 Housing Market

Expert Insights on the 2022 Housing Market | MyKCM

As we move into 2022, both buyers and sellers are wondering, what's next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here's a look at what they say we can expect in 2022.

Odeta Kushi, Deputy Chief Economist, First American:

"Consensus forecasts put rates at about 3.7% by the end of next year. So, that's still historically low, but certainly higher than they are today."

Danielle Hale, Chief Economist, realtor.com:

"Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials within the prime first-time buying ages of 26-35 heading into 2022, we expect the market to remain competitive."

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

"With more housing inventory to hit the market, the intense multiple offers will start to ease. Home prices will continue to rise but at a slower pace."

George Ratiu, Manager of Economic Research, realtor.com:

"We also expect a growing number of homeowners to bring properties to market, taking some pressure off high prices and offering buyers more options."

Mark Fleming, Chief Economist, First American:

"Strong demographic demand will continue to act as the wind in the housing market's sails."

What Does This Mean for Buyers?

Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today's affordability is still in your favor.

What Does This Mean for Sellers?

Make no mistake – this sellers' market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver's seat. But don't wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won't last forever. Work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year.

Bottom Line

If you're thinking of buying or selling, 2022 may be your year. Let's connect to discuss your goals and the unique opportunities you have in today's housing market.

December
28

5 Tips for Making Your Best Offer on a Home

5 Tips for Making Your Best Offer on a Home | MyKCM

As a buyer in a sellers' market, sometimes it can feel like you're stuck between a rock and a hard place. When you're ready to make an offer on a home, remember these five easy tips to help you rise above the competition.

1. Know Your Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

"This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer."

Showing sellers you're serious can give you a competitive edge, and it helps you act quickly when you've found your perfect home.

2. Be Ready To Move Fast

Homes are selling quickly in today's competitive housing market. According to the Existing Home Sales Report from the National Association of Realtors (NAR):

"Eighty-three percent of homes sold in November 2021 were on the market for less than a month."

When houses are selling this fast, staying on top of the market and moving quickly are key. Your agent can help you put together and submit your best offer as soon as you find the home you want to buy.

3. Lean on a Real Estate Professional

No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac also notes:

"The success of your homebuying journey largely depends on the company you keep. . . . Be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls."

Agents are experts in the local real estate market. They have insight into 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.

4. Make a Strong, but Fair Offer

According to the latest Realtors Confidence Index from NAR, 40% of offers today are above the list price. In such a competitive market, emotions and prices can run high. Having an agent to help you submit a strong, yet fair offer is critical in these situations. Your agent can help you understand the market value of the home and recent sales trends in the area.

5. Be a Flexible Negotiator

When putting together an offer, your trusted real estate advisor will help you consider which levers you can pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don't want to give up. Freddie Mac explains:

"Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold 'as-is', which means the seller won't pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can't afford to fix."

Bottom Line

Today's competitive landscape makes it more important than ever to make a strong offer on a home. Let's connect to make sure you rise to the top along the way.

December
27

Key Things To Avoid After Applying for a Mortgage

Key Things To Avoid After Applying for a Mortgage | MyKCM

Once you've found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It's exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who's qualified to explain how your financial decisions may impact your home loan.

Here's a list of things you shouldn't do after applying for a mortgage. They're all important to know – or simply just good reminders – for the process.

1. Don't Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender.

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

2. Don't Make Any Large Purchases Like a New Car or Furniture for Your Home.

New debt comes with new monthly obligations. New obligations create new qualifications. People with new debt have higher debt-to-income ratios. Since higher ratios make for riskier loans, qualified borrowers may end up no longer qualifying for their mortgage.

3. Don't Co-Sign Other Loans for Anyone.

When you co-sign, you're obligated. 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 the payments against you.

4. Don't Change Bank Accounts.

Remember, 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.

5. Don't Apply for New Credit.

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

6. Don't Close Any Credit 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 determinants of your score.

Bottom Line

Any blip 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. The best plan is to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.

December
24

4 Quick and Easy DIY Holiday Centerpieces

With the holidays right around the corner, many people are diving into their basements, attics and garages, pulling out their holiday decor. And though you may resume your tree ornaments, lights and wall hangings, changing up some of your decor can truly get you—and your guests—into the holiday spirit. Centerpieces make great DIY projects, bringing joy and creativity to your dinner table. Here are four simple DIY holiday centerpiece ideas you can try this season!

Pine Cones in Vases
Whether you buy them from a store or simply take a walk into your own backyard, pine cones are a great addition to holiday decor. For your new centerpiece, bring the outdoors inside. Spray paint some pinecones silver, white or gold—or add sparkles for an added touch of glamour—and place them in a wide-mouth vase. You can even use vases of different heights to create some visual interest. Dress up the base of the vases with some holiday colored ribbon or twine, and voila! 

Stacks of Mini Presents
Get yourself a package of mini boxes, or make them yourself from old cardboard boxes. Leave them plain white or wrap them in your favorite holiday wrapping paper. Then, simply stack them on top of a cake stand for a festive centerpiece. Add ribbon to each box, creating a look of gifts under the tree, or even add numbers to each box and use them as a countdown. Each day, a box can be opened, filled with surprises leading up to the ultimate gift-giving day!

Upcycled Candle Lanterns
Do you have an old candle lantern that you've been meaning to get rid of? Before you donate it, use it for this year's holiday centerpiece! If you plan to put a candle inside, create a decorative scene on the outside or around it to highlight the candlelight. Use pine cones, greenery, berries and even fake snow around the base and on the edges and top of the lantern. Or, ditch the candle and fill it with these same items, or holiday-themed knick-knacks to showcase on your table. 

Ornaments Galore
If you have extra ornaments left over after decorating your tree, there are many ways you can still use them! For example, set up a long tray in the center of your table, place three to five candles on the tray (depending on the size of the tray) and place your ornaments around the candles on the tray. Or, whip out that old cupcake stand and place an ornament in each cupcake slot to create a truly eye-catching piece of decor. You can even glue together ornaments to create a wreath, but instead of hanging it on your front door, place it on the table with a few candles in the center!

No matter what your style or crafty abilities, you can create a simple and quick DIY holiday centerpiece in no time. Look through the decorations you already have, or take a trip to the dollar store! With a little bit of creativity and a dash of holiday spirit, you can dress up your table with a centerpiece in no time, and no or low cost!

December
23

When a House Becomes a Home

When a House Becomes a Home | MyKCM

It's clear that owning a home makes financial sense. But lately, the emotional side of what drives homeownership is becoming increasingly important.

No matter the living space, the feeling of a home means different things to different people. Whether it's a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why.

1. Owning your home is an accomplishment worth celebrating

You've put in a lot of work to achieve the dream of homeownership, and whether it's your first home or your fifth, congratulations are in order for this milestone. You've earned it.

2. There's no place like home

Owning your own home offers not only safety and security but also a comfortable place where you can simply relax and unwind after a long day. Sometimes that's just what we need to feel recharged and truly content.

3. You can find more space to meet your needs

Whether you want more room for your changing lifestyle (think: working from home, dedicated space for a hobby, or a personal gym) or you simply prefer to have a large backyard for entertaining, you can invest in a home that truly works for your evolving needs.

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

Looking to try one of those decorative wall treatments you saw on Pinterest? Tired of paying an additional pet deposit for your apartment building? Maybe you want to create an entire in-home yoga studio. You can do all of these things in your own home.

Bottom Line

Whether you're a first-time homebuyer or a repeat buyer who's ready to start a new chapter in your life, now is a great time to reflect on the non-financial factors that turn a house into a happy home. Let's connect!

December
22

The Perks of Putting 20% Down on a Home

The Perks of Putting 20% Down on a Home | MyKCM

If you're thinking of buying a home, you're probably wondering what you need to save for your down payment. Is it 20% of the purchase price, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it's important to understand the many perks that come with a 20% down payment.

Here are four reasons why putting 20% down may be a great option if it works within your budget.

1. Your Interest Rate May Be Lower

A 20% down payment vs. a 3-5% down payment shows your lender you're more financially stable and not a large credit risk. The more confident your lender is in your credit score and your ability to pay your loan, the lower the mortgage interest rate they'll likely be willing to give you.

2. You'll End Up Paying Less for Your Home

The larger your down payment, the smaller your loan amount will be for your mortgage. If you're able to pay 20% of the cost of your new home at the start of the transaction, you'll only pay interest on the remaining 80%. If you put down 5%, the additional 15% will be added to your loan and will accrue interest over time. This will end up costing you more over the lifetime of your home loan.

3. Your Offer Will Stand Out in a Competitive Market

In a market where many buyers are competing for the same home, sellers often like to see offers come in with 20% or larger down payments. The seller gains the same confidence as the lender in this scenario. You are seen as a stronger buyer with financing that's more likely to be approved. Therefore, the deal will be more likely to go through.

4. You Won't Have To Pay Private Mortgage Insurance (PMI)

What is PMI? According to Freddie Mac:

"For homeowners who put less than 20% down, Private Mortgage Insurance or PMI is an added insurance policy for homeowners that protects the lender if you are unable to pay your mortgage.

It is not the same thing as homeowner's insurance. It's a monthly fee, rolled into your mortgage payment, that's required if you make a down payment less than 20%. . . . Once you've built equity of 20% in your home, you can cancel your PMI and remove that expense from your monthly payment."

As mentioned earlier, if you put down less than 20% when buying a home, your lender will see your loan as having more risk. PMI helps them recover their investment in you if you're unable to pay your loan. This insurance isn't required if you're able to put down 20% or more.

Many times, home sellers looking to move up to a larger or more expensive home are able to take the equity they earn from the sale of their house to put 20% down on their next home. With the equity homeowners have today, it creates a great opportunity to put those savings toward a larger down payment on a new home.

Bottom Line

If you're looking to buy a home, consider the benefits of 20% down versus a smaller down payment option. Let's connect so you have expert advice to help make your homeownership goals a reality.

December
21

Homebuyers: Be Ready To Act This Winter

Homebuyers: Be Ready To Act This Winter | MyKCM

To succeed as a buyer in today's market, it's important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on:

"Going forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply."

Here's a look at each one.

Mortgage Rates Projected To Rise in 2022

As a buyer, your interest rate directly impacts how much you'll pay on your monthly mortgage when you purchase a home. Rates are beginning to rise, and experts forecast they'll continue going up in 2022 (see graph below):Homebuyers: Be Ready To Act This Winter | MyKCMAs the graph shows, mortgage rates are expected to climb next year. But they're still low when you compare to where they were just a few years ago. That presents today's buyers with some motivation to lock in a low mortgage rate before they climb higher.

More Homes Are Expected To Be Available This Season

The other market condition buyers need to monitor is the number of homes available for sale today. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows the current supply of inventory sits at just 2.4-months. To put that into perspective, a 6-month supply is ideal for a balanced market where there are enough homes to meet buyer demand.

However, there may be good news for buyers who are waiting for more options. A recent realtor.com survey shows more sellers are planning to list their homes this winter, meaning more choices will likely be available soon.

What Does That Mean for You?

Even if your options improve some this season, it won't significantly shift market conditions overnight. According to NAR, many more listings need to be available to move closer to a more neutral market:

"Given the average monthly demand . . . , 3.55 million homes should be on the market to meet a level of inventory equal to six months of demand, implying a shortage of homes for sale of 2.24 million."

So remember, even with more homes expected to come to market this season, competition among buyers will remain fierce as there still won't be enough homes for sale to meet the current demand. That means you'll need to act quickly when you're ready to make an offer.

Bottom Line

If you're planning on buying a home this winter, more options are welcome news, but it doesn't mean you should slow down. Let's connect today so you have an expert on your side to help act as quickly as possible when the right home for you hits the market.

December
14

Advice for First-Generation Homebuyers

Advice for First-Generation Homebuyers | MyKCM

The sense of pride you'll feel when you purchase a home can't be overstated. For first-generation homebuyers, that feeling of accomplishment is even greater. That's because the pride of homeownership for first-generation buyers extends far beyond the homebuyer. AJ Barkley, Head of Neighborhood and Community Lending for Bank of America, says:

"Achieving this goal can create a sense of pride and accomplishment that resonates both for the buyer and those closest to them, including their parents and future generations."

In other words, your dream of homeownership has far-reaching impacts. If you're about to be the first person in your family to buy a home, let that motivate you throughout the process. As you begin your journey, here are three helpful tips to make that dream come true.

1. Reach Out to a Real Estate Professional

It's important to reach out to a trusted advisor early in your homebuying process. Not only can an agent help you find the right home, but they'll serve as your expert advisor and answer any questions you might have along the way.

The latest Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveyed first-time homebuyers to see how their agent helped them with their home purchase (see chart below):Advice for First-Generation Homebuyers | MyKCM

As the graph shows, your agent is a great source of information throughout the process. They'll help you understand what's happening, assess a home's condition, and negotiate a contract that has the best possible terms for you. These are just some of the reasons having an expert in your corner is critical as you navigate one of the most significant purchases of your life.

2. Do Your Research and Know What You Can Afford

The second piece of advice for first-generation homebuyers is practical: do your research so you know what you can afford. That means getting your finances in order, reviewing your budget, and getting pre-approved through a lender. It also means learning the ins and outs of what it takes to pay for your home, including what you'll need for a down payment.

Many homebuyers believe the common misconception that you can't purchase a home without coming up with a 20% for a down payment. As Freddie Mac says:

"The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary."

The chart below shows what recent homebuyers have actually put down on their purchases:Advice for First-Generation Homebuyers | MyKCM

On average, first-time buyers only put 7% down on their home purchase. That's far less than the 20% many people believe is necessary. That means your down payment, and your home purchase, may be in closer reach than you realize. Keep that in mind as you work with a real estate professional to better understand what you'll need for your purchase.

3. Don't Lose Sight of What Home Means to You

Finally, it's important keep in mind why you're searching for a home to begin with. Overwhelmingly, first-generation homeowners recognize the financial and non-financial benefits of owning a home. In fact, in a recent survey:

  • 73% of first-generation homeowners say the safety and security homeownership provides is increasing in importance.
  • Nearly two-thirds of first-generation homeowners say the importance of building equity in a home is growing more important as well.

As AJ Barkley explains:

"For many first-generation homeowners and their families, homeownership has a unique importance, given the collective efforts to overcome financial challenges that can often span generations…"

Bottom Line

If you're a first-generation homebuyer, being prepared and working with a trusted expert is key to achieving your dream. Let's connect today so you can get started on your path to homeownership.

December
13

Tis The Season!

We're so thankful to have a great group of agents and staff working under the Bay Street Realty Group umbrella. We celebrated in style this year at our two office holiday parties, one in Savannah and one in Beaufort. With great food and even better spirits, we're all excited to see what 2022 will bring! 

December
10

Two Reasons Why Waiting To Buy a Home Will Cost You

Two Reasons Why Waiting To Buy a Home Will Cost You | MyKCM

If you're a homeowner who's decided your current house no longer fits your needs, or a renter with a strong desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home.

To determine whether you should buy now or wait another year, you can ask yourself two simple questions:

  1. Where will home prices be a year from now?
  2. Where will mortgage rates be a year from now?

Let's shed some light on the answers to both of these questions.

Where Will Home Prices Be a Year from Now?

Three major housing industry entities are projecting ongoing home price appreciation in 2022. Here are their forecasts:

According to the National Association of Realtors (NAR), the median price of a home today is $353,900. Using an average of the three price projections above (6.5%), a home that sold for $353,900 today would be valued at $376,904 at the end of next year. As a prospective buyer, you would therefore pay an additional $23,004 by waiting.

Where Will Mortgage Rates Be a Year from Now?

Today, Freddie Mac announced their 30-year fixed mortgage rate was at 3.1%. However, most experts believe mortgage rates will rise as the economy recovers. Here are the forecasts for the fourth quarter of 2022 by the three major entities mentioned above:

That averages out to 3.7% if you include all three forecasts. Any increase in mortgage rates will increase your costs.

What Does It Mean for You if Home Values and Mortgage Rates Increase?

If both variables increase, you'll pay a lot more in mortgage payments each month. Let's assume you purchase a $353,900 home today with a 30-year fixed-rate loan at 3.1% (the current rate from Freddie Mac) after making a 10% down payment. According to mortgagecalculator.net, your monthly mortgage payment would be approximately $1,360 (this does not include insurance, taxes, and other fees because those vary by location).

That same home one year from now could cost $376,904, and the mortgage rate could be 3.7% (based on the industry forecasts mentioned above). Your monthly mortgage payment after putting down 10%, would be approximately $1,561.Two Reasons Why Waiting To Buy a Home Will Cost You | MyKCMThe difference in your monthly mortgage payment would be $201. That's $2,412 more per year and $72,360 over the life of the loan.

Add to that the approximately $23,004 a house with a similar value would build in home equity this year due to home price appreciation, and the total net worth increase you could gain by buying this year is over $95,364 (the $72,360 mortgage savings plus the $23,004 potential gain in equity if you buy now).

Bottom Line

When asking if you should buy a home, you may think of the non-financial benefits of homeownership. When asking when to buy, the financial benefits make it clear that doing so now is much more advantageous than waiting until next year. Let's connect!

December
7

6 Popular Home Wellness Trends

Incorporating wellness features into the home design process is not only becoming more mainstream, it's becoming more expected in homes, especially in the luxury market. The foundation of health and wellness begins at home, so it's no wonder that these features are becoming more conventional. Below are the home wellness design trends expected to become increasingly more prevalent in the coming year.

Home Air Purifiers
As the country continues to return to a more normal way of living, having proper ventilation and pure indoor air quality is more important than over. An indoor air purifier can lessen air contaminants, bacteria and viruses. Air purification systems can be installed into HVAC systems and take the form of stand-alone units.

Indoor Gardening
Bringing the outdoors in can offer a host of health benefits, from physical to mental. Greenery can be visually calming, air purifying and can contribute to an immunity-boosting diet. Building an indoor garden can deliver all these benefits. Whether you create a stand-alone greenhouse or a more undersized garden stand, you can have fresh fruit and vegetables readily available and the live plants can aid in purifying your air.

Touchless Appliances
Touchless appliances can help curb the spread of germs throughout your home. From motion-activated toilets, kitchen faucets, bathroom faucets, light switches, locks or garage door openers, simply waving your hand to activate these high-touch surfaces can help stop germs from spreading.

At-Home Fitness 
Creating a fitness space beyond the Peloton and treadmill makes a well-rounded fitness and wellness routine at home. A heated yoga studio or meditation room facilitates a mind-body wellness routine from the comfort and safety of home. For additional wellness benefits, adding a massage studio lets your masseuse come to you.

Embracing Minimalism
A clutter-free home creates a stress-free oasis that is so important for mental clarity and health. Devising a decluttering system that works for you can be therapeutic and result in long-term psychological and physical health benefits. Aspects of this system may include a more sophisticated custom storage system or hiring a professional organizer. In addition, a lighter physical space can often create a lighter headspace.

Enhanced Outdoor Living
Outdoor living and entertaining increased over the pandemic and don't show any signs of slowing down. From full outdoor kitchens to enhanced lounging areas to additional protection from the elements, equipping your home with the features to host and live comfortably outdoors is essential.

By prioritizing health at home, you're more likely to integrate it into every aspect of your life.

December
6

A Checklist for Selling Your House This Winter [INFOGRAPHIC]

A Checklist for Selling Your House This Winter [INFOGRAPHIC] | MyKCM

Some Highlights

  • If you're planning to sell your house this winter, you'll want it to look its best inside and out.
  • Take the time and focus on tasks that make it inviting, show it's cared for, and boost your curb appeal.
  • Let's connect so you have an expert opinion on what to focus on, so it shows well and catches a buyer's eye.
December
3

Home Is Where the Heart Is More than Ever This Year

Home Is Where the Heart Is More than Ever This Year | MyKCM

There's no denying the financial benefits of homeownership, but what's often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We've lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us.

According to the 2021 State of the American Homeowner report by Unison:

"Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head."

As a nation, we continue to work through the challenges of a pandemic that's pushed us all to new limits. Over the past year and a half, we've spent more time than ever at home: working, eating, schooling, exercising, and more. The world around us changed almost overnight, and our homes were redefined. Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:

  • 91% of homeowners say they feel secure, stable, or successful owning a home
  • 64% of American homeowners say living through a pandemic has made their home more important to them than ever
  • 83% of homeowners say their home has kept them safe during the COVID-19 pandemic

It's no surprise this study also reveals that homeowners are now more emotionally attached to their homes as well:Home Is Where the Heart Is More than Ever This Year | MyKCMAs we've learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty. That sense of connection and emotional stability genuinely reaches beyond just the financial aspect of owning a home. As JD Esajian, President of CT Homes, LLC, says:

"Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you."

Whether you're thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:

"Buying a home is not just a financial decision. It's also a lifestyle decision."

Bottom Line

If you're considering buying a home, it's not entirely about the dollars and cents. Let's connect so I can help you when it comes to weighing the non-financial benefits that may truly change your life when you need them most. 

December
2

Why Now Is a Great Time To Sell Your House

Why Now Is a Great Time To Sell Your House | MyKCM

As we near the end of the year, more homeowners are realizing the benefits of today's sellers' market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles.

In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too.

According to George Ratiu, Manager of Economic Research at realtor.com:

"The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter."

If you're thinking of waiting until the spring to sell your house, know that your neighbors may be one step ahead of you by selling this winter. If you want to stand out from the crowd, this holiday season is the best time to make sure your house is available for buyers. Here's why.

Sellers Are Still Firmly in the Driver's Seat

Historically, a 6-month supply of homes for sale is needed for a normal or neutral market. That level ensures there are enough homes available for active buyers (see graph below):Why Now Is a Great Time To Sell Your House | MyKCMThe latest Existing Home Sales Report from the National Association of Realtors (NAR) shows the inventory of houses for sale sits at a 2.4-month supply. This is well below a neutral market.

What Does That Mean for You?

When the supply of homes for sale is as low as it is today, it's much harder for buyers to find homes to purchase. This drives up competition among buyers, who then submit increasingly competitive offers to win out against others in the home search process. As this happens, prices rise and your leverage as a seller rises too, putting you in the best position to negotiate a contract that meets your ideal terms.

And while the low housing supply we're facing won't be solved overnight, sellers this season should move quickly to maximize their potential. As the data shows, with more prospective sellers planning to list their homes this winter, selling sooner rather than later helps your house rise to the top of a holiday buyer's wish list so you can close the best possible deal.

Bottom Line

Listing your home over the next few weeks gives you the best chance to be in front of buyers competing for homes this holiday season. Let's connect today to discuss how you can benefit from today's sellers' market.

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