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!

Nov. 18, 2020

Why Working from Home May Spark Your Next Move

Why Working from Home May Spark Your Next Move | MyKCM

If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.

While the pandemic continues, Americans are re-evaluating their homes, floorplans, locations, needs, and more. Some need more space, while others need less. Whether you’re renting or own your home, if remote work is part of your future, you may be thinking about moving, especially while today’s mortgage rates are so low.

A recent study from Upwork notes:

“Anywhere from 14 to 23 million Americans are planning to move as a result of remote work.”

To put this into perspective, last year, 6 million homes were sold in the U.S. This means roughly 2 – 4X as many people are considering moving now, and there’s a direct connection to their ability to work from home.

The same study also notes while 45.3% of people are planning to stay within a 2-hour drive from their current location, 41.5% of the people who are citing working from home as their primary reason for making a move are willing to look for a home more than 4 hours away from where they live now (See graph below):Why Working from Home May Spark Your Next Move | MyKCMIn some cases, moving a little further away from your current location might mean you can get more home for your money. If you have the opportunity to work remotely, you may have more options available by expanding your search. Upwork also indicates, of those surveyed:

“People are seeking less expensive housing: Altogether, more than half (52.5%) are planning to move to a house that is significantly more affordable than their current home.”

Whether you can eliminate your daily commute to the office, or you simply need more space to work from home, your plans may be changing. If that’s the case, it’s time to connect with a local real estate professional to assess your evolving needs and determine your path together.

Bottom Line

This has been a year of change, and what you need in a home is no exception. Let’s connect today to make sure you have expert guidance on your side to help you find a home that fits your remote work needs.

Posted in Market News
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Nov. 17, 2020

Ready, Set, TableScape!

If you’ve ever browsed through home decor magazines, gone to high-end cookware stores, or even scrolled through Instagram, you’re probably familiar with elaborately decorated dining tables full of flowers, ornamental place mats, and lavishly embellished dining plates. And, while beautiful, these table settings don’t always look that easy to achieve yourself.

In reality, the tables you see on the pages of magazines, in stores, and on perfectly curated profiles do take a lot of work to craft. It’s a true art form now known as tablescaping, and it’s an activity that can be a lot of fun once you’ve mastered it.

Though you might not have a huge guest list for Thanksgiving this year, it can still be enjoyable to make your dining table look picture-perfect. If you’re not sure where to start, the guide below breaks down a few ideas to help.

A Theme Dream

One of the things that makes tablescapes so beautiful and eye-catching is that they are typically created around a theme. And whether you want to go the traditional route or try something a little more out of the box, there are plenty of ways to achieve the look you want.

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    • CLASSIC FALL FEAST
      Bring traditional fall colors and decor together for a classic Thanksgiving tablescape. Start with a neutral base (such as a cream-colored table runner and crisp, white plates), and build out your color from there. Place brightly colored gourds throughout the center of the table until it feels full, along with natural elements like individual red, yellow, and orange leaves and small branches. And, for a personal touch, you could also place a miniature pumpkin on each plate with guests’ names.

      What you'll need:

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    • WHIMSICAL AND WOODSY
      Part of the magic of this season is the beautiful transformation of nature, so why not make your table feel like it belongs in a cottage in the forest? Focus primarily on natural colors (e.g., browns, greens, and grays) and decorative elements that look plucked from the woods. Utilize moss and branches as a centerpiece, with white candles interspersed. (You can even place the candles on wooden holders for a rustic look.) Also, consider making use of fall ingredients by putting a sprig of fresh rosemary or sage on each plate or by placing bunches of cinnamon sticks throughout the table—which will also give off a wonderful scent.

      What you'll need:

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  • MODERN AND REFINED
    If simple and pared down is more your style, you can still create a thoughtfully decorated table that doesn’t feel chaotic or cluttered. Start with simple place settings, like crisp white or blue plates paired with silver or gold flatware, but have some fun with the table runner, napkins, or place mats—a shade of red will add a pop of color that still feels classic. Keep the centerpiece simple, such as a glass bowl of small gourds, pine cones, and acorns, or a traditional candelabra with plain white or gold candles. Just remember: for a simple and modern appearance, uniformity is key.

    What you'll need:

Posted in DFW Lifestyles
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Nov. 16, 2020

Is it Safe to Sell My House Right Now?

 

Is it Safe to Sell My House Right Now? | MyKCM

In today’s real estate market, the buzz is all about how it’s a great time to sell your house. Buyer demand is high, and there simply aren’t enough homes available to buy to meet that growing need. This means now is the time to make a move so you can close the deal on your ideal terms.

Even in today’s strong sellers’ market, there are homeowners who are choosing not to sell due to ongoing concerns around the health crisis, financial uncertainty, and life in general. According to Zillow, here are the top three reasons homeowners who are thinking of selling sometime in the next three years are not putting their houses on the market right now:

  • 34% - Life is too uncertain right now
  • 31% - Financial uncertainty
  • 25% - COVID-19 health concerns

If you identify with any of these, you’re not alone. Whether it’s the future of your employment situation or simply being uncomfortable having guests in your home for showings, life feels a lot different than it did at this time last year. The good news is, real estate professionals have spent the majority of 2020 figuring out how to sell homes safely, and it’s paying off for those who are choosing to move this year.

Real estate agents are doing two things very well to make selling your house possible:

1. Agents Are Implementing Technology in the Process

While abiding by state and local regulations as a top priority, real estate agents are making sales happen safely and effectively by leveraging key pieces of technology. Agents know exactly what today’s buyers and sellers need and how to put the necessary digital steps in place. For example, agents have capitalized on the technology buyers find most helpful when deciding on a new home:

  • Virtual tours
  • Accurate and detailed listing information
  • Detailed neighborhood information
  • High-quality listing photos
  • Agent-led video chats

They’re listening to their audience and leveraging the tools that help buyers get an initial look at a home without having to step inside. This helps reduce the number of people entering your home, so only those who are very seriously interested need to take the next step: in-person showings.

2. Agents Are Facilitating Safe and Effective In-Person Showings

After leveraging technology, if you have serious buyers who still want to see your house in person, agents are following the guidelines set by the National Association of Realtors (NAR) and utilizing safe ways to proceed. Here are a few of them, understanding again that the agent’s top priority is always to follow­ state and local restrictions first:

  • Limiting in-person activity
  • R­­­equiring guests to wash their hands or use an alcohol-based sanitizer
  • Removing shoes or covering them with booties
  • Following CDC guidance on social distancing and wearing face coverings

Getting comfortable with your agent – a true trusted advisor – taking these steps under the modern-era safety standards might be your best plan. This is especially important if you’re in a position where you need to sell your house sooner rather than later.

As Jeff Tucker, Senior Economist for Zillow notes:

“Homeowners who feel life is uncertain right now may think they can still get a strong price if they delay selling until they have more clarity. The catch is that waiting to sell may raise the cost of a trade-up. This fall's record low mortgage rates, which make a trade-up more affordable on a monthly basis, are not guaranteed to last.”

Bottom Line

In this new era in our lives, things are shifting quickly, and virtual strategies for sellers may be your ideal option. Opening your doors up to new approaches could be game-changing when it comes to selling your house while the market is leaning in your favor. Let’s connect so you have a trusted real estate professional to help you safely and effectively navigate all that’s new when it comes to making your next move.

Posted in Selling Tips
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Nov. 14, 2020

Should I Renovate My House Before I Sell It? [INFOGRAPHIC]

Should I Renovate My House Before I Sell It? [INFOGRAPHIC] | MyKCM

Some Highlights

  • In today’s hyper-competitive market, buyers are often willing to overlook cosmetic or minor repair needs if it means snagging a home in their price range.
  • With so few houses available for sale today, you may be able to skip the bigger renovations before you sell and cash in on the current demand for your house.
  • If you’re ready to move, let’s connect to determine your best next steps in this sellers’ market.

 

Posted in Selling Tips
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Nov. 13, 2020

New Holiday Traditions for 2020

“A tradition is kept alive only by something being added to it.”
—Henry James

For many people, once November arrives, so does the holiday season. And with it comes the excitement of what lies ahead.

Yet at least part of that excitement is actually a result of what lies behind—namely, family traditions. A treasured tradition can come in all shapes and sizes: it could be visiting the same home every year for Thanksgiving, bringing out cherished place settings or ornaments that have been passed down to you, or following yearly routines like lighting a menorah or reading ‘Twas the Night Before Christmas to your children on Christmas Eve.

Traditions bond families together and link generations. Just as important, they provide a sense of predictability and comfort in an increasingly chaotic world—and, in 2020, we arguably need them more than ever.

However, as Henry James aptly says in the quote above, these customs should be dynamic, not static: something that honors the past but also grows with you. Here are some ideas for creating new traditions to embrace, both this year and beyond.

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    • CUE THE CREATIVITY
      For many people, especially kids, creativity adds to the magic of the season. In addition to the construction-paper turkeys and gingerbread house fun, you can also introduce all kinds of projects—with items you probably already have in your home—that everyone can enjoy doing year after year.

      Add a personal touch to Thanksgiving dinner by creating your own fall-themed centerpiece and glassware.

      • Double up on holiday decor with fall-to-winter ideas for your fireplace mantel.

      • Pair bingo with your holiday-movie traditions—and, for extra fun, play it together remotely with loved ones!

      • Keep your holiday cards every year, and create a keepsake collage out of them.

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    • AN ALL-HANDS DINNER
      Traditions usually center around togetherness, so focus on bringing your family together to prepare your holiday dinner. This year, make sure everyone understands their roles for before and after the meal, whether it’s setting the table, loading the dishwasher, or sweeping the floors. Kids will love helping with the food, too. If they’re beginners in the kitchen, you can show them how to prepare things like the rolls, veggies, or even cranberry sauce. After dinner is done, announce what a great job they did and that they now have official helper roles every year.

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    • REACH OUT TO OTHERS
      This year, people need one another more than ever, and the holiday season is the perfect time to spread goodwill by helping others. A simple rule to follow: take a tough situation and turn it around. Know a neighbor who can’t get to the grocery store? Offer to make the trip. Can’t go out for a holiday meal? Buy a gift card to a local restaurant to use at a later date—which will not only help a local business but also buy yourself a little optimism for the future. Alternatively, donate the money you would have spent to a food bank. Not heading out on Black Friday? Mark the occasion by buying a gift for a child in need, and have your children help choose it.

      In addition, with fewer people gathering for the holidays, a personal touch can be the best gift you can give. If you can’t see Grandma this year, plan ahead: write a good, old-fashioned, handwritten letter, and send it in plenty of time for her to receive it before the holiday. She’ll probably appreciate it so much, she’ll want to get one every year! You can also help your kids write to a veteran or a COVID-19 frontline responder to show much how much you appreciate them; both can be done through an organization like Operation Gratitude.

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  • TIME TO CHERISH
    More than anything, the best tradition you can start is to treasure every moment you have with friends and family—yes, even more than you usually do. For example, with things being quite different for Thanksgiving this year (including some retailers being closed), many of us will have extra time during the holiday that would have been spent shopping or working on a larger holiday dinner. Use it intentionally with those who are with you: put down your phone, and turn off the TV unless you’re watching it together. Take a walk together. Do a backyard scavenger hunt. Play a family game of football. Whatever you decide to do, seize the day.

    And speaking of carpe diem, why wait to transition from one holiday to the next? Buy yourself and your family some new nighttime holiday gear. That way, soon after Thanksgiving dinner is done, the conversations have ended, things have been cleaned up, and the calls to loved ones have been made, you can get comfy in your new sleepwear and mark the occasion by taking a family photo and watching some holiday programming together.

    As you can see, there are many ways that you can start new holiday traditions for you and your family—right from the comfort of home. Sure, the usual crowded house, ginormous holiday feast, and holiday events may be scaled back in 2020, but that just creates opportunities to focus on not only enhancing the memories of cherished times and loved ones but also creating new ones for generations to come.

Posted in Home Staging Tips
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Nov. 12, 2020

Where Are Home Values Headed Over the Next 12 Months?

Where Are Home Values Headed Over the Next 12 Months? | MyKCM

As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate?

Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates) to home values depreciating by more than 6% (CoreLogic).

However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As Mark Fleming, Chief Economist at First American, recently revealed:

“The only major industry to display immunity to the economic impacts of the coronavirus is the housing market.”

Have prices continued to appreciate so far this year?

Last week, the Federal Housing Finance Agency (FHFA) released its latest Home Price Index. The report showed home prices actually rose 6.5% from the same time last year. FHFA also noted that price appreciation accelerated to record levels over the summer months:

“Between May & July 2020, national prices increased by over 2%, which represents the largest two-month price increase observed since the start of the index in 1991.”

What are the experts forecasting for home prices going forward?

Below is a graph of home price projections for the next year. Since the market has changed dramatically over the last few months, this graph shows forecasts that have been published since September 1st.Where Are Home Values Headed Over the Next 12 Months? | MyKCM

Bottom Line

The numbers show that home values have weathered the storm of the pandemic. Let’s connect if you want to know what your home is currently worth and how that may enable you to make a move this year.

Posted in Market Updates
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Nov. 12, 2020

Making a Home for the Brave Possible [INFOGRAPHIC]

Making a Home for the Brave Possible [INFOGRAPHIC] | MyKCM

 

Some Highlights

  • VA Home Loans provide unique opportunities for Veterans, active-duty personnel, and their families in recognition of their service to our Nation.
  • For eligible individuals, options associated with VA Loans can help make the dream of homeownership a reality.
  • If you or someone you know may benefit from a VA Loan, let’s connect to answer your questions today.
Posted in Market News
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Nov. 10, 2020

Pantone Colors to Inspire Your Decor This Fall

Don’t know where to start for decorating your home this fall? Take inspiration from these autumnal Pantone colors!

russet-orangeRusset Orange

It’s no secret that orange is one of the staple colors of autumn. From pumpkins to the foliage outside of your window, the color is nearly everywhere you look. Bring it into your home as well with decorative elements!

valiant-poppyValiant Poppy

Another classic fall color is red—and this deep Pantone shade is sophisticated and will add autumn flair to your home without overdoing it. Pair it with Russet Orange to achieve a chic, yet seasonally appropriate feel to any room.

martini-oliveMartini Olive

Green leaves may be a thing of the past with fall in full swing, but it doesn’t have to be completely gone from your interior space. This shade—rightfully named Martini Olive—is a more understated shade of green that will add a much-needed earth tone to the home.

limelightLimelight

Neon is a trend that has taken over our closets, and it’s about to take over the home, too. Pantone named Limelight—a yellow-green shade—one of their fall colors. It’s not too overpowering, but could be just what your home needs to brighten up.

ultra-violetUltra Violet

Named Pantone’s Color of the Year, this galaxy-like violet color is the perfect addition to any interior. While it will look chic in your home for the fall, you can smoothly transition your decor into winter as well with Ultra Violet.

 

 

Posted in Home Staging Tips
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Nov. 9, 2020

TOWNHOUSE VS. CONDO: WHICH SHOULD YOU BUY?

Whether it’s your first time buying or you just want to purchase something smaller, townhouses
and condos are both great options.

Check out the differences between the two to help aid you in your search!


Condominiums

Condominiums are similar to apartments in that you purchase an individual unit inside of a larger building,
but not the property it sits on.
This generally includes access to the building’s amenities, such as the clubhouse, pool, and gym. 

However, condo owners are not responsible for the upkeep and repair of these common areas. 

Because of the number of shared spaces, living in a condo often allows for meeting new people
and building a strong sense of community.
There is a fairly similar vetting process for loan approval as for a full-sized home;
however, the lender will also look at the health of the condo association.

Townhouses

Those who purchase a townhome are generally purchasing the complete unit, both inside and out,
including the land it sits on.
This might also include the driveway, yard, or roof.
Traditionally, these units are two- or three-stories tall and may also include common areas like
pools and parks. 

Townhome owners pay a fee to a homeowners association every month
and the loan process is the same as buying a full-sized home.

Which is the best choice?

Both townhomes and condos offer less maintenance than a traditional home and generally
offer great shared areas.
Your decision ultimately comes down to you and your family’s needs and wants.
Things you’ll want to take into consideration include location, lifestyle, family growth, and price.

 

Posted in Buying Tips
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Nov. 6, 2020

Rent vs. Buy: How to Decide What’s Best for You

 

According to the U.S. Census Bureau, median rent continues to rise. 
With today’s low mortgage rates, there’s great opportunity for current renters
to make a move into homeownership that stretches each dollar a little bit further.

While the best timeline to buy a home is different for everyone,
the question remains: Should I continue renting or is it time for me to buy? 
The answer depends on your current situation and your future plans.
So here are some thoughts to help you decide if you’re ready to own a home of your own.

1. Rent Will Continue to Increase

This is one of the top reasons why renters decide to move because in most cases,
rent will continue increasing each year.
As noted above, the U.S. Census Bureau recently released its quarterly homeownership 
report, and as the graph below shows, median rent is climbing year after year.
When you own a home, you’ll lock in your monthly payment for the life of your loan,
creating consistency and predictability in your payments.
Rent vs. Buy: How to Decide What’s Best for You | MyKCM

 

 

 

 

2. Freedom to Customize

This is a big decision-making point for many people who want to be able to paint, renovate, and make home upgrades. In many cases, landlords determine all of these selections and prefer you do not alter them as a renter. As a homeowner, you have the freedom to decorate and personalize your home to truly make it your own.

3. Privacy

When renting, your landlord has access to your space in case of an emergency.
If you own your home, however, you’re the one to decide who can come inside.
Given today’s health concerns around the pandemic, this may be a growing priority for you.

4. Flexibility for Relocation

If you’re renting, it may be easier to move quickly should you have a job transfer or simply decide it’s time for a change. When you’re a homeowner and need to sell your house, this might take a little more time.
Today, however, with the housing market’s low inventory, this may no longer be the case.
Homes are selling at a record-breaking pace, so you may have more flexibility than you think.

5. Building Equity

When you pay your rent, your landlord earns the equity the property gains.
If you own your home, the benefits of your investment go directly toward your net worth.
This is savings you’ll be able to use in the future for things like sending children to college, starting a new business, buying a bigger home, or simply downsizing to save for retirement.

6. Tax Advantages

When you own your home, there are additional that work in your favor as well.
You can deduct things like your property taxes and mortgage interest 
(Always make sure you check with your accountant to see which tax-deductible benefits apply to your situation). When you rent, however, the tax benefits are directed to your landlord.

Bottom Line

It’s up to you to decide if you’d prefer to rent or buy, and it’s different for every person.
If you’d like to learn more about the pros and cons of each, as well as resources to help you along the way, let’s connect to discuss your options. This way, you can make a confident and informed decision with a trusted expert on your side.

 

 

Posted in Buying Tips
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