5 Reasons Why to Sell This Summer!

 

Here are five reasons listing your home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competingwith each other to buy the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory has declined year-over-year for the last 35 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 41 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!

Prices are projected to appreciate by 5.2% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

 

Posted by The KCM Crew

Ready to sell? Click HERE to get started!

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Drop in Inventory Fuels Sales Slowdown [INFOGRAPHIC]

Some Highlights:

  • Existing Home Sales are now at an annual pace of 5.46 million.
  • Inventory of existing homes for sale dropped to a 4-month supply, marking the 35th month in a row of declines.
  • The median price of homes sold in April was $257,900. This is the 74th consecutive month of year-over-year price gains.

 

Posted by The KCM Crew

Whether you’re buying or selling, let one of our many qualified agents help you today!

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

Recently released data from the National Association of Realtors (NAR) suggests that now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high.

Let’s see how this applies to the current residential real estate market.

SUPPLY

It is no secret that the supply of homes for sale has been far below the number needed to sustain a normal market for over a year at this point. A normal market requires six months of housing inventory to meet the demand. The latest report from NAR revealed that there is currently only a 3.6-month supply of houses on the market.

Supply is currently very low!

DEMAND

A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report(which sheds light on the number of buyers who are actually out looking at homes) disclosed that “foot traffic grew 10.5 points to 52.4 in March as the new season approaches.”

Demand is currently very high!

Bottom Line

Waiting to sell will only increase the competition between you and all of the other sellers putting their houses on the market later this summer. If you are debating whether or not to list your home, let’s get together to discuss the conditions in our market.

 

Posted by The KCM Crew

Ready to sell? Visit our website to get started!

This Just In: Data Says May is the Best Month to Sell Your Home

According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.

For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:

ATTOM even went a step further and broke their results down by day.

Top 5 Days to Sell:

  • June 28th – 9.1% above market
  • February 15th – 9.0% above market
  • May 31st – 8.3% above market
  • May 29th – 8.2% above market
  • June 21st – 8.1% above market

It should come as no surprise that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two months. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, which often leads to bidding wars.

One caveat to mention though, is that when broken down by metroATTOM noticed that while warmer climates share in the overall trend, it turns out that they have different top months for sales. The best month to get the highest price in Miami, FL, for instance, was January, and Phoenix, AZ came in with November leading the charge.

If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, homes sold in an average of just 30 days last month! If you list now, you’ll have a really good chance to sell in May or June, setting yourself up for getting the best price!

Bottom Line

Let’s get together to discuss the market conditions in our area and get you the most exposure to the buyers who are ready and willing to buy!

 

Posted by The KCM Crew

Ready to sell? Visit our website today to get started!

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

With home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional.

Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.

Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The termite company if there are challenges
  • The buyer’s lender if the structure of the mortgage requires the sellers’ participation
  • The appraiser if there is a question of value
  • The title company if there are challenges with certificates of occupancy (CO) or other permits
  • The town or municipality if you need to get the CO permits mentioned above
  • The buyer’s buyer in case there are challenges with the house your buyer is selling
  • Your bank in the case of a short sale

Bottom Line

The percentage of sellers who have hired real estate agents to sell their homes has increased steadily over the last 20 years. Let’s get together and discuss all we can do to make the process easier for you.

 

Posted by The KCM Crew

Are you ready to sell your home? Visit our website today to find an agent!

Cheap House Improvements Under $500 That Will Increase the Value

Whether you intend to sell your home in the near future or stay put for the long haul, house improvements can increase the value of your property. But if you shudder at the thought of wasting your time on labor-intensive projects that may or may not add equity, you’re not alone.

Luckily, you don’t have to spend your entire savings—and every weekend from here to eternity—to keep your house up to date. We found a slew of smart projects that are relatively simple, will cost you no more than $500, and will be catnip to future buyers—or just make your everyday life a bit brighter.

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Before you begin your house improvements…

We’ll offer this pre-project tip that will make your life a lot easier: declutter.

“A common problem I see when I initially start working with a client is too much stuff that is not being used,” says Tracie Stoll, a DIYer, designer, and decorator who blogs at CleverlyInspired.com. “Declutter first—and in many cases, you can sell those extra items to make money to tackle home improvement projects.”

Now let’s get to the projects!

Make a splash in the bathroom

The bathroom is one of the most visited rooms in your home, and just a few changes can make it one of the most functional and stylish rooms as well. Simple touch-ups like regrouting and recaulking can instantly make the room look cleaner and newer.

Also, swapping out inefficient toilets, faucets, and shower heads for products that aid in water conservation can make a big difference. A low-flush toilet uses 20% less water than a standard toilet, and water-saving shower heads can help families save almost 3,000 gallons of water a year.

“Touchless water faucets are all the rage right now, especially if you have kids,” says remodeler and licensed contractor Mark Clement of MyFixItUpLife. “Touchless faucets are clean and easy, and there are literally thousands of fixture choices, including stainless steel, brushed nickel, chrome, and bronze.”

Just be sure to keep your fixture finishes consistent throughout the bathroom.

Create style underfoot

While updating your flooring is typically seen as an expensive project, it doesn’t have to be.

“If the carpet has seen better days, pull it up to see what is underneath,” says Stoll. “If it is concrete, that surface can be cleaned up and painted. Throw an inexpensive area rug down, and the room will be updated immediately.”

Tiling is another budget-friendly flooring update for your kitchen or bathroom.

“Porcelain and stone are very inexpensive,” says Alan Zielinski, owner and president of Better Kitchens in Niles, IL, who adds that linoleum floors are also very cost-effective, and come in several styles.

“[Porcelain] tiles are very strong, and they can mimic the look of stone and wood,” says Judy Mozen, designer and president of Homecrafted Homes in Atlanta.

Beware: Tearing out an existing floor can add significant labor costs, so if it’s at all possible, lay the new flooring on top of the existing one.

Customize your cabinets

Another inexpensive bathroom and kitchen update to tackle? Fix those cabinets. If they’re in good shape, you can simply clean, sand, and paint them.

“This is also an opportunity to provide a pop of color in the bathroom,” says Clement.

So, what color should you paint them?

“White is a popular color because it is clean, and it looks good with any style,” says Mozen. Black is another popular cabinet color.

Mozen advises homeowners to weigh the condition of the cabinet’s interior area. “If there’s water damage, it’s not worth it to repaint them—that’s like polishing an old shoe,” she says.

Both Clement and Mozen say that sometimes it may be just as cost-effective to purchase new stock cabinets from a big-box store such as Lowe’s or Home Depot.

You can also update your cabinets by simply replacing the hardware. New knobs, handles, and pulls in the kitchen and bathroom will make a huge difference.

Add architectural details

You can use wainscoting, shiplap, and crown molding to add craftsmanship to your home.

“I love wainscoting,” says Clement. “It takes a two-dimensional drywall surface and immediately makes it feel homey. And there are a lot of wainscoting choices ranging from wood to PVC.”

However, Clement warns against using trims made from medium-density fiberboard in a room with a lot of moisture, because this material cannot withstand water and will mold.

“Adding crown moldings to the ceiling of various rooms or adding shoe moldings to the floor is a great way to dress rooms up without major additions,” says Allen Shayanfekr, CEO and co-founder of Sharestates, a real estate investment company that focuses on fix-and-flip properties. “Working with a trim carpenter to have these added can do a lot aesthetically for the appearance of rooms and the overall value of a home.”

Light it up

Lighting is another way to update your home without spending a fortune.

“Adding inexpensive new lighting fixtures in areas with a lot of visibility in the house can have a large impact on a home’s value,” says Shayanfekr. “Adding a few sconces and possibly an inexpensive chandelier—something around the $300 price point—can make a huge difference in a hallway, living room, or kitchen,” he says.

Create the perfect palette

Perhaps the easiest way to transform a room is with paint.

“I would say paint is the No. 1 room changer with very little expense,” Stoll says. “And don’t forget the trim; that is the icing on the cake.”

The beauty of paint is that you can use it to update practically anything. You can paint the interior or the exterior of the home. You can paint the walls, the cabinets, and other furniture.

Stoll even recommends spray-painting your lamps and then buying new lampshades. On the outside, you can paint the front door and paint or stain your deck or wood fence. You can paint your outdoor furniture and, depending on the material, you can even paint your garage doors.

 

Posted by Terri Williams on realtor.com

What Should You Look for In Your Real Estate Team?

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

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

As the financial guru Dave Ramsey advises:

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

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

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

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

According to the Home Buyer and Seller Generational Trends Report:

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

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

Bottom Line

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

 

Posted by The KCM Crew

Find your agent today!