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!

Feb. 1, 2021

Turn to an Expert for the Best Advice, Not Perfect Advice

Turn to an Expert for the Best Advice, Not Perfect Advice | MyKCM

 

As we approach the anniversary of the hardships we’ve faced through this pandemic and the subsequent recession, it’s normal to reflect on everything that’s changed and wonder what’s ahead for 2021. While there are signs of economic recovery as vaccines are being issued, we still have a long way to go. It’s at times like these we want exact information about anything we’re doing. That information brings knowledge, and this gives us a sense of relief and comfort in uncertain times.

If you’re thinking about buying or selling a home today, the same need for information is very real. But, because it’s such a big step in our lives, that desire for clear information is even greater in the homebuying or selling process. Given the current level of overall anxiety, we want that advice to be truly perfect. The challenge is, no one can give you “perfect” advice. Experts can, however, give you the best advice possible.

Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to her office, she won’t immediately tell you how the case is going to end or how the judge or jury will rule. If she could, that would be perfect advice. What a good attorney can do, however, is discuss with you the most effective strategies you can take. She may recommend one or two approaches she believes will be best for your case.

She’ll then leave you to make the decision on which option you want to pursue. Once you decide, she can help you put a plan together based on the facts at hand. She’ll help you achieve the best possible resolution and make whatever modifications in the strategy are necessary to guarantee that outcome. That’s an example of the best advice possible.

The role of a real estate professional is just like the role of a lawyer. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen throughout the transaction – especially in this market.

An agent can, however, give you the best advice possible based on the information and situation at hand, guiding you through the process to help you make the necessary adjustments and best decisions along the way. An agent will lead you to the best offer available. That’s exactly what you want and deserve.

Bottom Line

If you’re thinking of buying or selling this year, let’s connect to make sure you get the best advice possible.

Posted in Buying Tips
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Jan. 29, 2021

Making Home a Haven

Dorothy Gale may have best put into words how we feel about where we live: “There’s no place like home.” But, as many have discovered, having too much of a good thing can turn negative at times. The best way to return your home to a place of respite is to take each month and decide how you will make it your own, which these tips can help you achieve.

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  • JANUARY
    This is usually the time when the holidays get packed away, so take advantage of it. Try a new way of organizing your holiday items that’s more efficient (such as using twist ties on lights and labeling containers), and consider rearranging your living space.

  • FEBRUARY
    Being in the dead of winter, this month is the perfect time to start decluttering your home by grouping items into keep, donate, and trash categories. Also put into motion similar minimizing plans for the rest of the year.

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  • MARCH
    In honor of spring’s return, give your home a fresh start by spring-cleaning and adding a fresh paint color to at least one room. It’s also a good time to check and replace smoke alarm batteries and schedule an HVAC inspection.

  • APRIL
    It’s all about curb appeal. Do at least two outdoor-related projects: plant something new, try composting, clean up your yard, wash your car, or pressure-wash your sidewalks, patio, or deck.

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  • MAY
    With warmer weather and more plans on the horizon, now’s an ideal time to consider rearranging furniture to maximize light, reorganizing your garage or shed for the warmer-weather projects ahead, and cleaning and prepping your grill.

  • JUNE
    Plan your decor for the outdoors. If you haven’t done so, buy patio furniture or bring existing furniture outside to take advantage of summer’s glorious return. Also think of fun DIY or outdoor ideas you and your family can do in the coming summer months, such as making a time capsule.

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  • JULY
    Do some midsummer maintenance, especially on outdoor items that have been heavily used at this point, such as your grill and lawnmower. Likewise, take advantage of the cool indoors by giving your kitchen a thorough cleaning, including the fridge and pantry.

  • AUGUST
    Make a battle plan for closing out summer: start making room in your shed for storage and if you have a pool, start prepping for its closure. If need be, get your home ready for school (and have fun doing it) by making a turntable homework station.

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  • SEPTEMBER
    As the classic song aptly states, the days grow short when you reach this month—so take advantage of the dwindling daylight. Plan fall projects, such as staining your deck before leaves begin falling and getting your HVAC unit winterized.

  • OCTOBER
    With cooler weather arriving, make your bedroom a cozy haven. Give everything a good clean, and replace your lighter sheets with thicker ones and a comforter. You may want to add some dim lighting, too, such as candles or fairy lights.

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  • NOVEMBER
    Put your home plans in motion for your holidays: How will furniture be rearranged? Will any need to be stored? Will you need to prepare a guest room? The more planning you do, the more stress you’ll avoid!

  • DECEMBER
    First and foremost, enjoy the moment. But things get chaotic and time flies during the holidays, so keep your home tidy by designating a room for present storage and wrapping, and start formulating your holiday and postholiday housekeeping plans as early as possible.

These tips will really hit home when you share them with friends and family.

Posted in Home Staging Tips
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Jan. 28, 2021

What’s New in Water Heaters?

 

 

Your water heater is an important part of your home, especially if you have a family. Between cooking, cleaning, doing dishes, washing clothes, washing hands, and all the other things you use hot water for throughout the day, knowing that your water heater can handle your needs is vital. If your trusty old water heater has seen better days, it may be time to look for a replacement. Chances are a lot has changed in water heaters since yours was installed, though, so here are some of the more recent advancements in water heaters that you should know about.

 

Improved Efficiency

Water heaters are a lot more efficient than they used to be, which is good news for your wallet. Because of updates to efficiency standards, smaller water heaters tend to be around 4 percent more efficient, and large water heaters can be up to 25 to 50 percent more efficient. That means less time and energy spent heating water up, more hot water available at any given time, and possibly significant savings when it comes to how much you spend each year on keeping hot water available in your home.

Changing Sizes

As a result of the improved efficiency of water heaters, most water heater models feature more insulation than older water heaters did. In some cases, this isn’t really noticeable, since more efficient insulation can be used to keep size differences minimal. Depending on how old your old water heater is, though, you may find that new water heater models are simply larger and thicker than your current one is. This may not be a big deal, but if your current water heater is in a tight area without much extra room around it, then it’s definitely worth keeping this in mind.

More Tankless Options

For a long time, tankless water heaters seemed to occupy something of a niche corner of the market. In recent years, though, they have become much more common in homes, and more manufacturers are offering tankless options. Since these water heaters don’t feature a large tank that has to keep water hot, a tankless water heater might be worth considering if you have a limited amount of space in your home.

Hybrid Water Heaters

If you want to save space but are worried about going completely tankless, a hybrid water heater might be right for you. These water heaters use a small tank of water that’s kept hot, and also feature heating technology similar to tankless heaters to supply additional hot water beyond what the tank offers. This lets you save space, time, and money since the small tank heats faster than a large tank would and ensures that you won’t have any unfortunate lapses that might occur if you have more demand than a tankless heater can manage.

Smart Water Heaters

As with many home appliances, water heaters are available with a number of smart options as well. You can control these water heaters from your smartphone, performing actions such as adjusting water temperatures and even turning the heater off and on without having to touch the water heater itself. On top of this, many smart water heaters also feature options such as Vacation Mode which reduces water temperatures while you’re away to save on water heating costs. You may even be able to sync this with other smart home features to set Vacation Mode as part of a larger overall routine for when you’re at work, traveling, or otherwise away from the house for more than a few hours.

 

Posted in Home Maintenance
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Jan. 27, 2021

Why Moving May Be Just the Boost You Need

Why Moving May Be Just the Boost You Need

Why Moving May Be Just the Boost You Need | MyKCM

As we look back over the past year, we’ve certainly lived through one of the most stressful periods in recent history. After spending so much more time at home throughout the health crisis, some are wondering if they should move to improve their mental health and well-being. This is no surprise since the U.S. Census Bureau reported an increase in the percentage of adults with symptoms of anxiety and depression in a recent Household Pulse Survey.

There’s logic behind the idea that making a move could improve someone’s quality of life. When people change their scenery, they often feel happier. Catherine Hartley, an Assistant Professor at New York University’s Department of Psychology and co-author of a study on how new experiences impact happiness, mentioned:

“Our results suggest that people feel happier when they have more variety in their daily routines—when they go to novel places and have a wider array of experiences.”

If you’re looking for a new experience, planning a move into a new home may be something you’ve started to consider more carefully. If so, you’re not alone. The 2020 Annual National Movers Study by United Van Lines shows:

“For customers who cited COVID-19 as an influence on their move in 2020, the top reasons associated with COVID-19 were concerns for personal and family health and wellbeing (60%); desires to be closer to family (59%); 57% moved due to changes in employment status or work arrangement (including the ability to work remotely); and 53% desired a lifestyle change or improvement of quality of life.”

So, if you’re thinking of moving this year to help boost your happiness factor, here are a few questions to ask yourself as you make your decision.

How’s the Weather?

Is the weather something that’s important to you? Does it have a tendency to impact your mood? The World Population Review shares:

“What states have the best weather? When evaluating each state for temperature, rain, and sun, some states stand out. Although climate and weather preferences are personal and subjective, some criteria are considered to make up the best weather, according to Current Results:

  • Comfortable temperatures from 63°F to 86°F for more than half of the year.
  • Dry weather with no more than 60 inches of rain per year.
  • Mostly clear skies with an average of sunshine for at least 60% of the year.”

“Better weather” can mean different things to different people – some prefer the heat, others cooler temperatures, and some want to experience all four seasons. Think about what makes you feel happiest if you’re looking for a new location.

Should I Choose the City, Suburbs, or Country?

With the COVID-19 pandemic, some people are deciding to move to lower-density areas. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), mentions:

“The third quarter Home Building Geography Index (HBGI) reveals that a suburban shift for consumer home buying preferences in the wake of the COVID-19 pandemic is accelerating as telecommuting is providing consumers more flexibility to live further out within large metros or even to relocate to more affordable, smaller metro areas.”

Can you work from home? Are you open to a longer commute in the future? If so, a move to the suburbs or even a quieter rural area may be a win for you. Or, if you’ve always dreamed of life in the city, now may be your chance to move into town.

Bottom Line

As we look beyond the trials of the pandemic, many are hoping for a new beginning, and that may mean moving. Let’s connect today to talk about your new goals and options in today’s market.

Posted in Market News
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Jan. 26, 2021

Top Siding Options for 2021

 

Homes both old and new face a determined foe: the elements. One of the only defenses against moisture, wind, and heat is the siding your house is clad in. You can think of it a bit like house armor. So, when it comes time to choose your home’s main line of defense, what will it be? The cheapest option you can possibly come up with, or a well-considered siding that is both durable and attractive? It’s time to look at your siding options.

 

Siding Choices for 2021

Although you can side your house in an amazing array of materials, from metal barn siding to asphalt shingles, there are definitely options that are far more effective and attractive than others. Siding options haven’t changed a lot this year, but there’s plenty to be said for the materials that are widely available today. Common siding choices include:

  • Vinyl. Although vinyl is final, it’s not always the most durable material out there. There are a range of grades of vinyl siding, and which you choose matters. Look for a heavier option, with a longer warranty, if you want to ensure your siding will be around a while. Higher end vinyl siding comes in a wide range of patterns, too, including imitation shakes and fish scales (rounded shingles), plus it can be oriented either vertically or horizontally, depending on your home’s style and your personal preference. On the other hand, while vinyl may be the most versatile material for the money currently on the market, if you live in an area where high winds are a problem, it may be difficult to keep vinyl siding attached.
  • Fiber cement. Made from a combination of cement and wood fibers, fiber cement siding is durable and long-lasting. Unlike its predecessor, modern fiber cement no longer contains asbestos, but does still retain the same unrelenting strength. It’s a heavy duty siding, however, so expect to pay more for installation. You’ll also likely be needing to repaint it occasionally. Fiber cement costs more than vinyl siding in general, but has a useful lifespan of 50 years or more, so if you plan to stay in your home and are looking for an alternative to stone or brick, it might be the answer.
  • Wood. Good old-fashioned wood siding has been a popular choice for generations, but modern homes have steered away from it for a variety of reasons. Because wood siding requires a lot of maintenance, many homeowners simply don’t have the time to reseal or repaint it often enough to maintain the original look, and over time this lack of care can lead to insect infestations. Wood siding is great for some applications, but it’s only as good as the care you give it. If you’re prepared to go the long haul on your home, or just want a small accent, wood might be a great option. The cost will vary considerably depending on the thickness, style, and species of wood you choose.
  • Composite. Composite, also known as engineered wood, is a compromise for homeowners who want a wood look, but don’t want all the upkeep of real wood. It’s still going to need more care than other types of siding, but you can still expect to get 20 or 30 years of use from it. Unlike real wood, which can be sanded and refinished if you get lax in maintenance or simply want to give it a different finish, composite siding is kind of a set-it-and-forget-it option. It will be the color or stain you chose initially unless you remove it all and start again.
  • Brick or Stone. Brick and stone go hand in hand when it comes to siding choices. Both are sturdy materials that require an expert mason to install properly, so if you’re considering a DIY siding job, these may not be the right option. Considerable skill goes into properly creating a stone or brick siding, and without the proper prep work, your siding can simply slip off your house. It’s not a pretty picture. On the flip side, stone and brick are pretty much forever, requiring only minimal tuckpointing for maintenance. So, as long as you don’t decide to paint brick or stone, you’ve got siding you can trust for a lifetime.
Posted in Home Keppr
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Jan. 25, 2021

Owning a Home Is Still More Affordable Than Renting One

Owning a Home Is Still More Affordable Than Renting One | MyKCM

If spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re not alone. You may be wondering, however, if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than rent one. Here’s why.

ATTOM Data Solutions recently released the 2021 Rental Affordability Report, which states:

“Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report.

That has happened even though median home prices have increased more than average rents over the past year in 83 percent of those counties and have risen more than wages in almost two-thirds of the nation.”

How is this possible?

The answer: historically low mortgage interest rates. Todd Teta, Chief Product Officer with ATTOM Data Solutions, explains:

“Home-prices are rising faster than rents and wages in a majority of the country. Yet, home ownership is still more affordable, as amazingly low mortgage rates that dropped below 3 percent are helping to keep the cost of rising home prices in check.”

In 2020, mortgage rates reached all-time lows 16 times, and so far, they’re continuing to hover in low territory this year. These low rates are a big factor in driving affordability. Teta also notes:

“It’s startling to see that kind of trend. But it shows how both the cost of renting has been relatively high compared to the cost of ownership and how declining interest rates are having a notable impact on the housing market and home ownership. The coming year is totally uncertain, amid so many questions connected to the Coronavirus pandemic and the broader economy. But right now, owning a home still appears to be a financially-sound choice for those who can afford it.”

Bottom Line

If you’re considering buying a home this year, let’s connect today to discuss the options that match your budget while affordability is in your favor.

Posted in Buying Tips
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Jan. 22, 2021

An Orderly Office

Last year completely shifted everything we once knew about working. With most of America still working from home, having a home office has become just as (if not more) essential as a second bathroom and an updated kitchen.

But just because you have an office doesn’t mean it’s set up for optimal productivity. The tips below can help you create a room that feeds your focus.

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    • CLEAN SWEEP
      If your office saw more action in 2020 than it had in a while, chances are it’s also messier than it was this time last year. Start by going through desk drawers, filing cabinets, and folders for papers and other items you no longer need. Separate these into piles based on what you should shred, recycle, or file away. Once you’ve determined what to keep, create color-coded folders based on categories like work, insurance documents, and kids’ school forms. Lastly, create a command station (which can be a designated cabinet or an entire set of drawers) that holds your most important folders. You can also consider purchasing a fireproof box for things like Social Security cards and birth certificates.

    • COMFORT (BUT NOT TOO MUCH)
      You want your work environment to be relaxing, but not so relaxing that it puts you to sleep. Your desk chair should provide enough back support that you aren’t tempted to slouch, but it also shouldn’t feel like a La-Z-Boy recliner. If your current chair is uncomfortable and you don’t want to splurge for a new one, consider investing in a lumbar support pillow or seat cushion instead. You can also create a more comfortable spot for your feet by installing an underdesk foot hammock. Things like candles (or, alternatively, a wax warmer), plants, and an adjustable overhead lamp can help create a calming environment primed for work.

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    • COLOR
      Whether or not you believe in color theory, there is something to be said for the way your mood can change depending on the colors you surround yourself with. Red might be your favorite color, but it won’t necessarily contribute to your productivity. Shades of blue are great for stimulating the mind and increasing focus. Yellow is often used in creative spaces to arouse the imagination and improve mood. And, as cliché as it may sound, green is great for those working in the financial services industry or for people who want feel more confident and self-assured.

    • COMPLETE THE LOOK
      The most important thing to remember is that your office space is yours. Don’t be afraid to add personal touches here and there, so long as you don’t mind them making an appearance on a Zoom call. For example, if you enjoy fresh flowers or plants, make sure to always keep some on your desk. Websites like The Sill and Bloomscape offer a huge variety of plants and flowers for purchase. A picture of your pet, family, or friends can also help remind you what you’re working so hard for. You should be surrounded only by what you enjoy and none of what you don’t.

Posted in Home Staging Tips
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Jan. 21, 2021

Are You Ready for Smarter Home Security?

 

As smart devices become more common, it’s no surprise to find homeowners who have opted to upgrade to smart thermostats or replace some of their lights with smart LED bulbs. While gadgets like these and virtual assistants like Amazon Echo and Google Home are great ways to make the home a bit smarter, these are not the only ways. There are a variety of sensors and smart devices that can make your daily life more convenient, including several smart security devices that can help keep you and your home safe and secure.

 

Smart Home Security

Traditionally, there were two ways that you could improve your home security. You could buy and install static items like deadbolts or reinforced door jams that that made it harder for someone to enter the home, or you could install an externally monitored security system that you typically paid a monthly or yearly fee for. With the rise in smart home devices, though, there is now a third option. A number of security-focused smart devices are available which not only work together to improve the overall security of your home, but also send alerts about suspicious activity around your house. While some smart home security devices are still linked to external monitoring, many of them provide you with pretty solid security without the need for ongoing subscription fees.

Cameras and Motion Detection

One of the more popular options for smart home security comes in the form of smart cameras and other smart monitors that you can install around the home. These cameras typically provide HD-quality video, and many feature tracking to follow potential invaders as they move, so you can get a clearer view of what’s going on in your house. To save power, these can be combined with motion detectors which allow the cameras to turn on only when someone or something is moving. Many of the motion detectors are advanced enough that you won’t have to worry about pets or things blowing in the wind setting them off, either. Once the camera is recording, you’ll receive an alert so you can view the video in real-time and take action as needed.

ntrusion Sensors

Motion detectors aren’t the only smart sensors that can improve your home security. Smart locks, door sensors, and window sensors can tell you remotely whether your doors and windows are locked, unlocked, open, or closed. In many cases you can even trigger the locks remotely to lock a door that you might have forgotten when leaving the house. Should a window or door be forced open or broken, the sensors can alert you, and also send a notice to other security components you have in your homes, such as cameras or an alarm panel.

Smart Doorbells

Another popular home security add-on is the smart doorbell. These doorbells typically contain a camera, alerting you when someone approaches your door, and also feature intercoms so that you can talk to visitors without having to actually open the door to greet them. Video clips are typically saved for easy access, and because of the eyes-front view of the doorbell, they can be great tools for identifying package thieves and other people who shouldn’t be approaching your porch.

Total Security Systems

While you can buy a number of individual components to build your own home security setup, smart security systems are an option as well. Not only do these systems provide you with multiple smart devices that convey the benefits we’ve already discussed, but they also tie them together with a central alarm panel that typically provides monitoring and the ability to call the police if needed.

Securing Your Home

There are a lot of options out there to improve your home security with connected smart devices. But picking the option that’s best for your home and making sure everything is set up correctly can sometimes be overwhelming. Fortunately, HomeKeepr is here to help. Sign up for a free account today and find installers who can help you choose and get you set up with the best smart security system for you and your home.

 

 

Posted in Home Keppr
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Jan. 20, 2021

Cha-Ching Check: Cash Beyond Your Down Payment

 

 

Shopping for a house can leave you exhausted and spiritually broken, especially when that dream home is proving tricky to find in your price range. Even though you’ll eventually find the right one, you may also find yourself cutting it close on cash if you didn’t properly prepare financially. So it’s time for your pre-purchase cha-ching check.

 

What It Costs to Close

For sellers, closing is a fairly simple process, and most of the time they walk away with a check in hand. But for buyers, closing can be one of the largest expenses of their lives. You know it’s going to be pricey, but it’s a much easier pill to swallow if you’re totally ready for everything that’s going to go into that transaction. And there’s a lot more to paying for your new home than just coming up with the down payment. If you’re like most borrowers, to cover additional expenses on the big day, you can expect to add an additional three to six percent on top of that big chunk you’ve saved.

Those costs include, but aren’t limited to:

  • Real estate-related expenses. Your lender should have already disclosed the fees they collect in order to actually do the work of creating your home loan, but there are other fees related to your loan that may or may not have been covered. These include potential lender requirements like appraisals and home inspections, as well as any repairs you’ve chosen to pay for at closing.
  • Loan-related fees. If you haven’t talked to a lender yet, you may be surprised at some of the fees that are charged to take your loan from a little dream to a big investment in your future. An application fee is generally required to begin the process, as it covers the costs of things like your credit report and the initial loan processing. Other fees include prepaid interest (interest that accumulates between closing day and the day of your first payment), loan origination fees, discount points, and mortgage broker fees. These can really add up!
  • Prepaid escrow expenses. Because items like your taxes and homeowner’s insurance are generally paid out of an escrow account, you’ll have to put some money into it at the get-go to kick things off. The actual initial deposits will depend on where you live, but count on at least two months, if not a full year, of each being collected to establish that account. If you have mortgage insurance, the same would also apply.
  • Title-related fees. Although it would be wonderful to live in a world where you could trust that a seller was absolutely, without question, capable of guaranteeing you could buy and own their home without complications, that world doesn’t really exist. But that’s why title searches and title insurance do. These different fees pay to ensure that you will be able to buy a house without anyone else having a legal claim to it later, which would complicate your ownership considerably. Before a bank will loan you money, they want to know that a home has a clear title. Title searches track all the people who have owned the property before, and title insurance protects against any problems that might have accumulated on the title over time.

 

Posted in Buying Tips
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Jan. 19, 2021

Why Right Now May Be the Time to Sell Your House

Why Right Now May Be the Time to Sell Your House | MyKCM

The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows.

According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is incredibly strong. That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state:Why Right Now May Be the Time to Sell Your House | MyKCMAs the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand.

NAR also just reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of inventory – significantly higher than it is today.

What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, they must be ready to act immediately once they find the right home since bidding wars are more common when so few houses are available for sale.

Sellers may not want to wait until spring to put their houses on the market, though. With such high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms.

Bottom Line

The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.

Posted in Selling Tips
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