Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 14, 2021

How to Upgrade to a Smart Home

Controlling your home from the palm of your hand was once thought of as science fiction, but it’s now a part of everyday life for many people. Technology has paved the way for smart homes, allowing you to control everything from the front door to the sprinkler system from the comfort of your couch or while you’re away at work.

Adding smart devices to your home can help simplify your life, but it can be confusing to know where to start. Read on to find out how you can give your living space a smart upgrade.

Getting started

Before you start dabbling in smart home technology, carefully consider the following to set yourself up for success.

Check your internet connection

You’ll need a strong wireless connection to power your smart home. You may already have many devices on your Wi-Fi network, including laptops, desktops, gaming consoles, and smartphones. If your connection is slow and you add smart devices, your Wi-Fi network could suffer.

Here are a few things you can do to boost your connectivity in preparation for adding smart devices:

Check your plan. Do you know how fast your internet connection is? There’s a chance you may be overpaying for a slower connection speed.

Upgrade your router and modem. Multiple devices can spread your bandwidth thin, but routers and modems with faster download speeds can handle increased use without sacrificing bandwidth.

Move your router and modem. Make sure your devices are not in an enclosed space. Placing them out in the open will keep your Wi-Fi’s signal strength strong and your modem and router well ventilated to prevent overheating.

Add a Wi-Fi booster to amplify the reach of your signal so you’ll have strong access from all areas of your home.

Choose a virtual assistant

If you plan to get only a few smart home additions, you may be able to control these devices through apps on your smartphone. However, if you’re planning to add smart devices throughout your home, it can be beneficial to choose a virtual assistant to streamline all your devices.

A smart speaker automatically comes with a virtual assistant, which can answer questions and commands when prompted by your voice or through the respective assistant app on your smartphone. There are several virtual assistants to choose from—the most popular being Amazon’s Alexa, Apple’s Siri, and Google Assistant.

The virtual assistant and smart speaker you select will determine the smart devices you can buy since not all devices are compatible with all assistants. Always check if the device is compatible with your setup before you purchase.

 

Choose your gadgets

There are smart devices available for every room in your home. Here are a few popular additions to integrate your existing home appliances and gadgets into your smart system.

Smart plugs

Add smart plugs to convert your small appliances or electronics into devices you can control remotely or via your virtual assistant. You’ll love the convenience of making coffee before getting out of bed in the morning or starting your slow cooker from the office so dinner is waiting for you when you get home. A smart plug fits into a standard electrical outlet, making it an affordable way to transition into smart-home living without buying a plethora of new devices.

Smart light bulbs

Smart bulbs look like standard light bulbs and come in a variety of styles. Just install normally, and you’ll be able to turn the lights on and off with voice commands or using your phone. Smart bulbs use less energy than normal light bulbs and can be a good security addition because they can be controlled while you’re away.

Smart doorbells

Most smart doorbells come equipped with cameras for added home security. Some varieties send you an alert of any movement when you’re not at home, and you can tune in to see a live or recorded feed of who is at your door. Additionally, smart doorbells can save these recordings for later access, which is a good option for simple and effective home security.

Smart locks

Forgetting your keys will be a thing of the past with a smart lock. Some smart locks allow you to lock your doors from your phone, and others can be unlocked by scanning your fingerprint or by entering a numerical code. You can even let guests in remotely or give babysitters and pet sitters their own unique access code that you can turn on and off.

Smart thermostats

Adding a smart thermostat can not only improve the comfort of your home but also lower your energy costs. Smart thermostats can detect when you’re at home, allowing the HVAC system to only operate when needed. Some smart thermostats allow you to adjust your heating and cooling based on the time of day or when you arrive home from work. Additionally, some models use sensors around your home to adjust the temperature in multiple rooms.

Smart smoke and carbon monoxide detectors

A smart smoke detector can sound an alarm while you’re at home and also send an alert to your phone if it detects danger, giving you peace of mind while you’re away.

Security tips

Smart devices are connected to the internet, so it's important to keep your information protected from cybercriminals. Follow these tips to protect your devices:

  • Switch your Wi-Fi router’s name with something unique, but don’t use your address or name.

  • Change the default username and password for your smart devices.

  • Enable multifactor authentication, which requires multiple pieces of evidence to prove your identity.

  • Create a strong password for your devices and apps, and avoid passwords containing data like your birthday.

  • Disable device features you don’t use.

  • Keep devices up to date with the latest firmware to keep them running efficiently.

 

Upgrading your house into a smart home can take some time. However, once you find the right additions, you’ll know adding these smart devices was a brilliant idea.

 

Posted in Home Staging Tips
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Sept. 13, 2021

Home Price Appreciation Is Skyrocketing in 2021. What About 2022?

Home Price Appreciation Is Skyrocketing in 2021. What About 2022? | MyKCM

One of the major story lines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year.

Here are the latest percentages showing the year-over-year increase in home price appreciation:

The dramatic increases are seen at every price point and in all regions of the country.

Increases Are Across Every Price Point

According to the latest Home Price Index from CoreLogic, each price range is seeing at least a 19% increase year-over-year:Home Price Appreciation Is Skyrocketing in 2021. What About 2022? | MyKCM

Increases Are Across Every Region in the Country

Every region in the country is experiencing at least a 14.9% increase in home price appreciation, according to the Federal Housing Finance Agency (FHFA):Home Price Appreciation Is Skyrocketing in 2021. What About 2022? | MyKCM

Increases Are Across Each of the Top 20 Metros in the Country

According to the U.S. National Home Price Index from S&P Case-Shiller, every major metro is seeing at least a 13.3% growth in prices (see graph below):Home Price Appreciation Is Skyrocketing in 2021. What About 2022? | MyKCM

What About Price Appreciation in 2022?

Prices are the result of the balance between supply and demand. The demand for single-family homes has been strong over the last 18 months. The supply of houses available for sale was near historic lows. However, there’s some good news on the supply side. Realtor.com reports:

“432,000 new listings hit the national housing market in August, an increase of 18,000 over last year.”

There will, however, still be a shortage of supply compared to demand in 2022. CoreLogic reveals:

“Given the widespread demand and considering the number of standalone homes built during the past decade, the single-family market is estimated to be undersupplied by 4.35 million units by 2022.”

Yet, most forecasts call for home price appreciation to moderate in 2022. The Home Price Expectation Survey, a survey of over 100 economists, investment strategists, and housing market analysts, calls for a 5.12% appreciation level next year. Here are the 2022 home appreciation forecasts from the four other major entities:

  1. The National Association of Realtors (NAR): 4.4%
  2. The Mortgage Bankers Association (MBA): 8.4%
  3. Fannie Mae: 5.1%
  4. Freddie Mac: 5.3%

Price appreciation is expected to slow in 2022 when compared to the record highs of 2021. However, it is still expected to be greater than the annual average of 4.1% over the last 25 years.

Bottom Line

If you owned a home over the past year, you’ve seen your household wealth grow substantially, and you’ll see another nice boost in 2022. If you’re thinking of buying, consider buying now as prices are forecast to continue increasing through at least next year.

Posted in Market Updates
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Sept. 10, 2021

More Places to Store Odds and Ends

Having enough storage space is a struggle that many homeowners face. Even when you have plenty of closets and cabinets, there are often additional odds and ends that don’t really seem to belong anywhere. The resulting clutter can be frustrating, and often results in things like unorganized junk drawers or a desk that becomes something of a cluttered catch-all for things that don’t have anywhere else to go in the house.

There are ways to get around some of this clutter, though. You’re likely already familiar with some spaces where you can store some of your odds and ends, but there may be options that you haven’t considered yet. Here are a few more areas that you might consider to help declutter your home and find a place for everything.

Under, Over, and Behind

When you look in your cabinets or closets and see the clutter there, you might actually be missing one possible solution to your problem. There’s usually some empty space around the clutter that you can take advantage of with relatively little effort, provided you recognize it for what it is. Instead of focusing on what’s on the shelves or in your existing storage areas, start looking under, over, and behind those areas. Options include:

  • Hang a shoe holder on the back of a closet door and place various small items into its pockets to better organize the space
  • Install under-cabinet hardware to mount can openers, paper towels, sliding drawers, or even things like your microwave to free up counter space
  • Place hooks on the backs of cabinet doors or on cabinet walls to hold measuring cups or other small items, organizing them for easy access
  • Add shelves or an over-the-toilet organizer to your bathroom to hold towels, soaps, makeup, and other items that might otherwise sit around your sink or crowd your bath area
  • Install hooks near entrances, in bathrooms, in the laundry room, and in other locations where you might need to hang up coats, towels, or other items

There are a lot of other options available as well, and you can find a wide range of racks, storage solutions, and modular shelving kits that will help you to take advantage of this otherwise unused space.

Posted in Home Staging Tips
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Sept. 9, 2021

Why 2021 Is Still the Year To Sell Your House

Why 2021 Is Still the Year To Sell Your House | MyKCM

If you’re trying to decide whether or not to sell your house, this is the time to think seriously about making a move. Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) reveals the number of respondents who say it’s a good time to sell is higher now than it was over the past few summers (see graph below). Today, the majority of consumers, 75 percent, say it’s a good time to sell a house.Why 2021 Is Still the Year To Sell Your House | MyKCM

Why is sellers sentiment up year-over-year?

The higher good time to sell sentiment has to do with today’s market conditions, specifically low housing supply and high buyer demand. In the simplest terms, we don’t have enough houses available for sale to meet buyer demand.

According to the latest data from the National Association of Realtors (NAR), we’re still firmly in a sellers’ market because housing supply is well below a balanced norm (shown in the graph below).Why 2021 Is Still the Year To Sell Your House | MyKCMClearly, the scales are tipped in a seller’s favor today. But while housing supply is undeniably low, the right side of the graph shows how the inventory situation is improving little by little each month as more sellers list their homes for sale.

As a seller, that means each month, buyers have more options to pick from. By extension, that means your house may get less buyer attention with time. Danielle Hale, Chief Economist for realtor.com, explains it like this:

“More homeowners continue to list homes for sale compared to a year ago… Notably, while new listings continue to lag behind a more ‘normal’ 2019 pace, the gap is shrinking. Even though homes continue to sell quickly thanks to high demand and limited supply, new listings are subtly shifting the balance of market conditions in favor of buyers.” 

So, what’s that mean for you?

If you’ve been waiting for the perfect time to sell, there may not be a better chance than right now. Inventory is gradually increasing each month, so selling sooner rather than later will help you maximize your home’s potential.

Bottom Line

If you’re planning to sell your house, 2021 is still the year to do it. The unique mix of low supply and high demand won’t last forever. Let’s connect to discuss what you need to do now to sell your house and take advantage of this sellers’ market.

Posted in Selling Tips
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Sept. 8, 2021

What You Can Do Right Now To Prepare for Homeownership

What You Can Do Right Now To Prepare for Homeownership | MyKCM

As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com:

“The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has increased by 11.4 percent since January . . . .”

Those rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re ready to learn more about how to escape rising rents.

Start Saving – Even Small Amounts – Now

Experts agree, setting aside what you can – even smaller amounts of money – into a dedicated savings account is a great starting point when it comes to saving for a down payment. As Cindy Zuniga-Sanchez, Founder of Zero-Based Budget Coaching LLC, says:

“I recommend saving for a home in a ‘sinking fund’ . . . . This is a savings account separate from your emergency fund that you use to save for a short or mid-term expense.”

Zuniga-Sanchez adds saving in smaller increments can help make a large goal – such as saving for a down payment –achievable:

“Breaking up your goals into smaller bite-sized pieces by saving incrementally can make a large daunting number more manageable.”

Assess Your Finances and Work on Your Credit

Another tip experts recommend: take a look at your overall finances and credit score and find ways to reduce your debt. According to the HUD, the average credit score of first-time homebuyers is 716. If you’re not sure what your credit score is, there are numerous online tools that can help you check. If your score is below that average, don’t fret. Remember that an average means there are homeowners with credit scores both above and below that threshold.

If you find out your score is below the average, there are several ways to improve your credit before you apply for a loan. HUD recommends reducing your debt as much as you can, paying your bills on time, and using your credit card responsibly.

Start the Conversation with Your Advisor Today

Finally, it’s important to talk to someone who understands the market and what it takes to become a first-time homebuyer. That’s where we come in. A trusted advisor can help you navigate your specific market and talk you through all the available options. Having the right network of real estate and lending professionals in your corner can help you plan for the homebuying process as well as determine what you can afford and how you can get pre-approved when you’re ready.

Most importantly, we can help you understand how homeownership is achievable. As Lauren Bringle, Accredited Financial Advisor with Self Financial, says:

“Don’t write home ownership off just because you have a low income . . . . With the right tools, resources and assistance, you could still achieve your dream.”

Bottom Line

If you’re planning to be a homeowner one day, the best thing you can do is start preparing now. Even if you don’t think you’ll purchase for a few years, let’s connect today to discuss the process and to set you up for success on your journey to homeownership.

Posted in Buying Tips
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Sept. 7, 2021

Choosing New Shingles

Modern shingles have been in use on homes for over 100 years, and it’s no wonder that they have become more or less a default for roofing choices. Shingles tend to be more budget-friendly than some other options such as metal roofing and tile, and they’re also available in a wide range of colors and styles. The main downside to shingles is that they can suffer wear over time or be damaged during inclement weather, necessitating repairs and occasional replacements. While you might not have to replace your shingles right away, the longer you put off these needed repairs then the more likely it is that your roof will develop some problems.

When the time comes to install a new shingle roof, you may find yourself facing kind of a big decision as you consider your options. If you aren’t sure what type of shingles to get, you’re not alone; many homeowners struggle with this same decision. Here are a few things to consider to make the decision easier and to help you find the perfect shingles for your home.

Types of Shingles Available
In addition to a wide range of looks, there are also different types of shingles that offer their own unique benefits. These shingles may offer increased algae and mildew resistance, increased stain resistance, and even increased flexibility to make them more resilient against things like hail and other harsh storms. Shingles designed for use in high-wind zones are also available, significantly decreasing the likelihood of shingle damage during wind storms.

Other types of shingles may be available as well, helping you to both achieve a desired level of roof protection and creating some unique aesthetics. You can even choose from a few types of wooden shingles to complement your home’s aesthetic or so-called “solar shingles” that are made up of interlocking solar panels which provide roof coverage instead of a standard shingle roof. Depending on your unique needs, there may be other types of shingles available to you as well.

Getting Some Help

While installing shingles can be a DIY project, many homeowners choose to call in a pro to make sure that the shingles are installed correctly. If you’re considering bringing in a roofer anyway, feel free to ask for their recommendations if you’re unsure of what type of shingles you want or which shingle features would best benefit your home. These pros have plenty of experience and can help you find the shingles that are the best fit for your home.

 

Posted in Home Keppr
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Sept. 6, 2021

Honoring the American Workforce

Honoring the American Workforce | MyKCM

Wishing you a happy and safe Labor Day.

Posted in DFW Lifestyles
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Sept. 4, 2021

What To Do with Your Vacation Home as Summer Ends

What To Do with Your Vacation Home as Summer Ends | MyKCM

As summer comes to a close, is it time to think about selling your vacation home? Based on recent data and expert opinions, it’s something you may want to consider. According to research from the National Association of Realtors (NAR), vacation home sales are up 57.2% year-over-year for January-April 2021.

If you’ve taken your last vacation this summer, here are reasons you should consider selling your vacation home this year.

1. Remote work continues to drive demand for vacation homes.

As the report from NAR says, based on continuously evolving work needs, there could be more interest in your second home than you think:

“In 2020, across all nine divisions, the fraction of the workforce that work from home is typically higher in the vacation home counties than in the non-vacation home counties… The opportunity to work from home could further raise the demand for vacation homes in future years.

Recent data shows we’ll likely see a sustained increase in the rate of remote work over the next five years. That means your vacation home could be highly sought after by certain buyers. Lawrence Yun, Chief Economist at NAR, puts it best, saying:

"Vacation homes are a hot commodity at the moment . . . . With many businesses and employers still extending an option to work remotely to workers, vacation housing and second homes will remain a popular choice among buyers."

2. Selling could allow you to upgrade your vacation spot – or even your day-to-day scenery.

When demand is high, so is buyer competition. When competition is strong, buyers will do everything they can to make their offer on your vacation home as appealing as possible. This can include things like all-cash offers and more. If you sell now, you’ll be able to benefit from high buyer competition and pick the offer with the best possible terms for you. That offer could give you the opportunity to purchase the primary residence of your dreams.

Or, if you find that you’ll continue working from home, you could consider taking up more permanent residence in your vacation home and selling your primary residence instead. While this isn’t a choice everyone can consider, it could be a great option.

No matter what the situation, you don’t have to make the decision on your own. Your trusted real estate advisor can help you determine your best option when you’re ready to sell.

Bottom Line

Buyers remain interested in vacation homes this year for a number of reasons. Now that summer is winding down, it’s time to think about taking advantage of today’s demand for vacation homes. Let’s connect today if you’re ready to give your second home its day in the sun.

Posted in Selling Tips
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Sept. 3, 2021

Considering Seamless Gutters?

 

Gutters play a very important role on your home, and it’s one that not everyone realizes. Sure, they divert water so that you’re not flooded with runoff every time it rains, but that isn’t what makes them so important. Because gutters divert rainwater as it flows down the roof, they also help to prevent that water from seeping into the eaves and causing leaks or other damage. A good set of gutters can improve the life of your roof and home exterior while also adding to the look of your home and keeping the worst of the runoff at bay.

 

 

One problem with gutters is that they can start to wear out over time. This is especially evident around gutter seams, where rust, debris, and just the weight of water over time can cause damage. This damage can result in leaks, letting water get out of the gutter right at the roofline, and potentially causing the very sort of damage that the gutters are supposed to prevent. This is a big part of the reason that so many homeowners are turning to seamless gutters; if there aren’t any seams, then the seams can’t leak.

 

Understanding Gutter Seams

Gutter seams aren’t inherently a bad thing; by producing gutter in sections and joining them at seams, installers can better fit the gutter to the unique size and shape of your home while still preparing gutter sections beforehand. Most gutter seams aren’t overly obvious, so it seems like an understandable concession to make in order to get the best fit for premanufactured gutters.

The problem with gutter seams is that gutters end up being under a lot of stress throughout the year. Water is heavy, leaves and other debris can get wedged in seams, and pods or seeds can actually end up in backed-up gutters and start putting down roots. This stress adds up over time, and the seams become one of the most likely points of damage aside from mounting points. Gutter screens and regular cleaning can help, but this won’t eliminate gutter stress entirely.

 

 

 

Posted in Home Keppr
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Sept. 2, 2021

Your Checklist To Get Ready To Sell [INFOGRAPHIC]

Your Checklist To Get Ready To Sell [INFOGRAPHIC] | MyKCM

Some Highlights

  • When it comes to selling your house, you want it to look its best inside and out.
  • It’s important to focus on tasks that can make it inviting, show it’s cared for, and boost your curb appeal for prospective buyers.
  • Let’s connect to make sure your house shows well and catches a buyer’s eye.
Posted in Selling Tips
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