March 31, 2020

4 reasons why Coronavirus makes mortgage rates so unpredictable

Coronavirus Mortgage Rates

The spread of COVID-19 has impacted the US economy in unprecedented ways. Even with March 15th’s record-breaking federal interest rate cuts, many homeowners are surprised to find that rates are either higher than expected or changing rapidly from day-to-day.

Here are the four key factors affecting mortgage rates today:

  • Market volatility
  • Supply and demand
  • Federal Reserve actions
  • Limited lender capacity
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Posted in Lender Spotlight
March 29, 2020

SDH Virtual Tours

Virtual Tours Work!

March 26, 2020

Don’t Let Headlines Scare You

Don’t Let Frightening Headlines Scare You | MyKCM

There’s a lot of anxiety right now regarding the coronavirus pandemic. The health situation must be addressed quickly, and many are concerned about the impact on the economy as well.

Amidst all this anxiety, anyone with a megaphone – from the main street media to a lone blogger – has realized that bad news sells. Unfortunately, we will continue to see a rash of horrifying headlines over the next few months. Let’s make sure we aren’t paralyzed by a headline before we get the full story.

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Posted in Market Conditions
March 25, 2020

Why the Stock Market Won’t Impact Home Values

Why the Stock Market Correction Probably Won’t Impact Home Values | MyKCM

With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What’s taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market.

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March 16, 2020

Top 5 Reasons Real Estate is in GOOD Shape

5 Simple Graphs Proving This Is NOT Like the Last Time | MyKCM

With all of the volatility in the stock market and uncertainty about the Coronavirus (COVID-19), some are concerned we may be headed for another housing crash like the one we experienced from 2006-2008. The feeling is understandable. Ali Wolf, Director of Economic Research at the real estate consulting firm Meyers Research, addressed this point in a recent interview:

“With people having PTSD from the last time, they’re still afraid of buying at the wrong time.”

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March 12, 2020

Home Equity in Colorado Gains $11,000 in the last 12 months

Equity Gain Growing in Nearly Every State | MyKCM

Rising home prices have been in the news a lot lately, and much of the focus is on whether they’re accelerating too quickly and how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact they have on a homeowner’s equity position.

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March 9, 2020

Increase in New Homes Coming to Market

New Homes Coming to the Housing Market This Year | MyKCM

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Construction Report, the number of building permits issued in January was 1,551,000. This is a 9.2% increase from December.

How will this impact buyers?

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March 3, 2020

Your Tax Refund Can Move You Toward Homeownership

How Your Tax Refund Can Move You Toward Homeownership This Year | MyKCM

If you’re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Homeownership may be one step closer than you think if you spend your dollars wisely this year.

Based on data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,962 when filing their taxes this year.

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Feb. 28, 2020

Thinking of Selling? Now Is the Time

Thinking of Selling? Now May Be the Time. | MyKCM

The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.

The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.

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Posted in Selling
Feb. 28, 2020

Should You Use Zillow To Buy Or Sell A Home In Washington Park?

Should you use Zillow to Buy or Sell your Home in Washington Park

Is a traditional realtor valuable enough to remain strong against the up and coming e-commerce real estate market? Companies like Zillow and Trulia are coming for the conventional realtor, offering an online real estate experience. Technology is a natural part of our lives now, and the real estate industry might be following the trends, but is it beneficial for customers? Should you use Zillow to buy or sell a home in Washington Park? Here’s why sticking with a traditional realtor is better than choosing an online company. 

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Posted in Selling