4 Reasons Why Summer Is a Great Time to Buy a Home!

Here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

 

Posted by The KCM Crew

Ready to buy? Click HERE to find your next home!

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What You Need to Know About Buying a House in Summer 2018

Want more house for your money? Flexibility is in this season.

The sun is high and hot—and so is the competition for buying a home.

Thinking about buying a home this summer? The sunniest time of year is great for exploring new neighborhoods and visualizing future patio parties during viewings. But before you start any serious shopping, it’s important to understand what the housing market is like for buyers right now, and what you can do to end up with the best home—and the best price—for you.

The housing market should be just as strong this summer as it’s been all springExisting home sales and list prices have risen this year, and starter home inventory has plummeted by 14 percent. But there are perks to house hunting right now, too. Here are some facts and tips to help you get the most out of this year’s summer housing market.

Summer Market Facts

  • Prices drop during the summer.

    Summer may be a busy home-buying season, but it’s not as crazy as spring. In fact, prices drop from May through October. If you can hang on until late August, you could find a really great deal—that’s when nearly 14 percent of listings get a price cut.

  • PMI is getting more affordable.

    There’s good financing news, too: Private mortgage insurance (PMI) is getting cheaper after PMI lenders MGIC and Radian lowered their rates this spring.

    “That’s going to cause most of these PMI companies to be competitive, which is going to bring them all down,” Knoxville real estate agent Nic Nicaud says. Because PMI is typically required when homebuyers have a down payment of less than 20 percent, that means it’ll be cheaper for some buyers to get into homes sooner.

Summer 2018 Homebuying Tips

  • Don’t discount older listings.

    When homes are flying off the market within days, it’s easy to think a listing that’s a week or so old is a red flag. Minneapolis real estate agent Danny Dietl says that’s not always the case. In his experience, it’s often because a buyer got cold feet and pulled out of a deal on a perfectly good house. But thanks to the assumptions people make about older listings in busy markets, the delay can cause the price to come down.

  • Consider a fixer-upper.

    In a competitive market, it’s important to be flexible. That could mean going with a fixer-upper, even if you were imagining a move-in ready dream home. There are just more of them out there: The number of starter homes on the market is shrinking, but there are 8.3 percent more fixer-uppers among them than there were six years ago.

    If you’re dead-set against a fixer-upper, Dietl says to be prepared to move quickly. “There’s only ever going to be a couple of options at a time,” he says. “And when new listings come on, it’s going to be pretty ferocious.”

  • Get to know the neighborhood.

    In competitive markets, it’s tempting to make an offer on any available property that fits your criteria, but if it’s in the wrong neighborhood, you may never end up feeling at home in your house.

    Take the time to do some community scouting before making an offer. You might notice convenient parks and new playmates for your kids—or be relieved to find more nightclubs than strollers on your block. You can even find out what your future neighbors have to say about the area with the new What Locals Say feature on listings throughout Trulia.

  • Make the strongest offer—even if it’s not the highest.

    Obviously, now is not the time for low-ball offers. But the strongest offer isn’t always the highest one. Dietl says cash offers are often the secret to a winning bid. “You can even actually be the highest offer by thousands of dollars, and a cash offer may take precedence,” he says.

    Sure, coming up with a cash offer could be tough for many buyers. But there are other ways to make a strong offer that don’t require gobs of money: Including generous contingencies, like a shorter closing or inspection period, and writing a great offer letter can help make your offer stand out.

     

    Posted by Patrick Dunn on Trulia

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!

June 2017 Statistics are Looking Good!

Market Reports

Missouri REALTORS® publishes a monthly market statistic report which includes:
  • Number of homes sold and purchase price
  • Days on market
  • Median purchase price
  • Average purchase price
  • Statewide sales volume

Latest Market Report

 

 

 

 

 

 

 

 

 

 

 

 

Click here to download the full report.

Posted by Missouri REALTORS®

9 Easy Ways to Cut Your Electric Bill by up to $750

With just a few simple adjustments, you can plug into big savings on your annual utility spending.

We all want to save energy and money, right? But it’s not always so easy — perhaps you don’t have the time for a home energy audit, or maybe there simply isn’t room in the budget for that energy-saving appliance you want.

No worries! Here are some quick and easy ways to reduce your home energy usage right now.

Reduce hot water usage

Don’t worry — you don’t have to take a low-flow shower! But heating up hot water does require energy, so take the simple and painless route:

  • Adjust the water heater’s temperature. Lower your water heater to 120 degrees F (49 degrees C). An added bonus — you’ll lower the risk of scalding accidents.

  • Don’t overuse the dishwasher. Try to run your dishwasher only once a day or when it’s completely full. See if your utility company offers savings for running appliances at off-peak times.
  • Wash clothes in cold water. Most modern detergents clean clothes very well with cold water. If you have items that you really need to wash in hot water, save them up and do one hot load every few weeks.

Projected savings: Up to $250 per year, depending on the number of people in your home.

Turn it off

Little things add up! An easy way to save money on your energy bill is turning off the lights, electronics, and other energy users when you’re not using them.

  • Leave a room, switch lights off. Make a habit of turning off everything in the room when you leave it — the TV, lights, your computer, etc.
  • Get the kids involved. Make a game out of turning off the lights instead of constantly reminding them to do it. Offer some sort of small, nonmonetary reward for remembering to turn off their bedroom lights for a week.
  • Install countdown timer light switches. For intermittently used rooms, such as the bathroom or laundry room, install a countdown timer light switch that will turn off the lights after a specified period, so you don’t ever have to worry about it.

Projected savings: Between $100-$300 per year, depending on the number of people and rooms in your home.

Heating and cooling bill savings

Generally speaking, the furnace and air-conditioner are the big energy hogs in your home. Here are some easy ways to reduce your dependence on them — and save money!

  • Use windows strategically. Install heavy drapes or blinds on windows located in sunny areas of your home. Open the blinds on cold days to take advantage of the sun’s warmth, and close them on warm days to block out the sun.
  • Install ceiling fans. This one takes a bit more effort than the others, but the payoff can be quite large. Run ceiling fans counterclockwise or downward during the summer to force cool air down into the room. Run them clockwise and upward in the winter to better distribute the warm air.

  • Adjust the thermostat. Yes, this sounds obvious, but one of the best ways to save on heating and cooling bills is simply lowering the thermostat in the winter and raising it in the summer! A programmable thermostat is ideal, but you can save money even with a traditional thermostat. In winter, lower your thermostat by 10 to 15 degrees for at least eight hours — when you leave for work, before you go to bed, or both — then raise it when you’re back.  If you have air-conditioning, do this in reverse come summer.

Projected savings: From 10-30 percent on your heating and cooling bills each year.

Saving energy doesn’t have to be a chore. With some very simple lifestyle changes, you can reduce your carbon footprint and save big!

 

Posted by Jane Drill on Zillow

9 Pools That Will Make You Wish Every Week Were Shark Week

Bust out your swim fins and sunblock. It’s time to take a dip.

We’re all bummed that Michael Phelps didn’t race a real shark. Instead of heading to the beach, we’ll console ourselves during the non-viewing hours of Shark Week by splashing around somewhere we know it’s safe to go in the water: a cool and refreshing backyard pool.

Check out these nine gorgeous swimming pools — any of which would be perfect for reenacting your favorite scenes from “Jaws,” “Deep Blue Sea,” or even “Sharknado.”

This San Juan Capistrano, CA pool, complete with diving board and slide, appears as though it were naturally formed into the stone.

Photo from Zillow listing.

Sleek and modern with clean lines, this pool looks like the perfect place for a romantic midnight swim.

Photo courtesy of Sprecht Architects.

The high temperatures of Palm Springs, CA are no match for this ultra-stylish pool with a water feature and views of the mountains.

Photo from Zillow listing.

Surrounded by beautiful stonework, this pool in Malibu, CA has more than enough room to host friends and family for a summer pool party.

Photo from Zillow listing.

Seamlessly blending into its tropical surroundings, this infinity pool in Longboat Key, FL offers a luxurious place to relax at the end of a long day.

Photo from Zillow listing.

In Kiawah Island, SC, the natural surroundings create a lush background for doing a few laps on those hot summer days.

Photo from Zillow listing.

This Santa Rosa Beach, FL pool boasts its own built-in hot tub for ultimate relaxation.

Photo from Zillow listing.

What could be better than your own lagoon complete with slide and waterfall? This pool in Vero Beach, FL has it all.

Photo from Zillow listing.

With a classic shape and design, this Seattle, WA pool provides plenty of space to soak in the summer sun.

Photo from Zillow listing.

Posted by Jamie Birdwell Branson on Zillow

10 Ways To Protect Your Home While On Vacation

Heading out of town for the summer? Don’t make it easy for burglars to find out.

Keep your home from being a target with these easy tips.

The season of long weekends and beach getaways is upon us, and the last thing any homeowner wants to imagine when they’re soaking in the sun or taking a dip at the lake is a burglar snooping around their empty home. While there is no use in being paranoid about your belongings while you’re away, home security shouldn’t be taken lightly. And it’s the right season to be wary: The U.S. Bureau of Justice Statistics has found that household burglary rates are highest in the summer.

So whether you’re getting away for the day or weekend or taking an extended vacation, put these 10 summer holiday safety tips to work and make your home less of a target for robbers this season — or any season.1. Beef up security systems

  1. Sure, you’ve set the alarm and have motion-activated lights outside, but there are some additional things you should consider doing to protect your home. For instance, install a heavy-duty lock strike plate on your door; it’s the weakest part and where thieves may try to break in. You can also add sash pins to double-hung windows to make them more secure.

    2. Make your home look lived in

    One big clue to burglars that you’ve gone away during the summer? An unkempt lawn. Be sure to mow it before you leave — or hire someone to keep it trimmed while you’re gone — so your home looks well cared for. The same precaution can be transferred to winter months — if you’re expecting a big snow, have someone on retainer to shovel your walk and driveway.

    3. Don’t keep your windows open

    String lights can be a great way to illuminate a deck or outdoor space during summer months, but don’t run electrical extension cords through your windows. If your windows don’t close and latch, you’re sending burglars an invitation to invade.

    4. Don’t fall for door-to-door solicitations

    A common way to scope out what kind of goodies you have in your home is by posing as a charity asking for donations. If someone comes to your door, don’t open it, or ask for an ID that links them to the charity — and don’t let them see inside.

    5. Use the latest tech

    Take advantage of a devices like FakeTV, which mimics the flickering light of a TV to make it look as though you are home. Other home automation devices, like Wi-Fi-enabled security systems or plug-in devices that allow you to turn lights on and off remotely with your cellphone, can also help ward off thieves.

    6. Keep your valuables out of sight

    That shiny new laptop, your favorite jewelry, or basically anything valuable you’ve forgotten to stash out of sight could tempt burglars. Before you head out of town, do a quick walk-through in each room and hide all valuables.

    7. Make a record of valuables

    It’s a good idea to take pictures of your stuff — particularly big-ticket items such as laptops and TVs — and keep serial numbers in a safe place. Should the worst happen, you’ll have a record of what was taken and be able to confirm your things are truly yours if they are recovered by police.

    8. Do your packing out of sight

    Sure, you have to make room for the bikes, load up the boogie boards, and stash away some snacks, but be smart about where you pack up the car. If possible, keep your car in the garage or out of sight, advises Heather Dodson, a real estate agent at Team Leung in Greensboro, NC.

    9. Be smart about boxes

    If you’ve bought new gear to bring along on your summer vacation, don’t leave the empty boxes on the curb for everyone to see. Instead, break down the cardboard and put it in your container for recycling or trash pickup.

    10. Don’t publicize your vacation plans

    It’s hard to fight the allure of Facebook and Instagram. But it’s probably not the best idea to share your travel plans online with your 500 closest friends. Your Facebook profile might not be as private as you think — and it’s better not to take the risk.

    Posted by Ginny Gaylor on Trulia