Dec. 4, 2020

November Real Estate Highlights

Nov. 25, 2020

Don’t Let Buyer Competition Keep You from Purchasing a Home

Don’t Let Buyer Competition Keep You from Purchasing a Home | MyKCM

This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why. 

According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB):

“The length of time spent searching for a home continues to grow.”

The report indicates that 62% of buyers now spend 3 months or more looking for a home, an increase from 58% one year ago. A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a home. Based on recent data from the National Association of Realtors (NAR), the average house in today’s market receives 3.4 offers before it’s sold. This means for every buyer who purchases a home, there are on average two or three buyers who have to begin their search all over again.

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Nov. 19, 2020

Will Mortgage Rates Remain Low Next Year?

Will Mortgage Rates Remain Low Next Year? | MyKCM

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time ever while making buying a home more and more attractive as the year progressed (See graph below):

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Nov. 19, 2020

The Best Elementary Schools in Denver, Colorado

The best elementary schools in Denver, Colorado

Education plays a vital role in the growth and development of children. Parent’s across the world strive to ensure that their children have access to excellent education options throughout the academic career in order to lay a strong foundation for their future. Nowadays, schools play a key role when deciding where someone may move to or from. And since moving, whether from a different neighborhood, city or even state, is hard enough, we’ve compiled a list of the top elementary schools in Denver, Co. 

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Nov. 13, 2020

Winter Will Bring a Flurry of Activity to the Housing Market

Winter Will Bring a Flurry of Activity to the Housing Market | MyKCM

In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:

“It will be one of the best winter sales years ever.”

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Nov. 11, 2020

VA Home Loans: Helping Heroes Find a Home

VA Home Loans: Important Housing Benefits for Veterans | MyKCM

Today, on Veterans Day, we honor those who have served our country and thank them for their continued dedication to our nation. In the United States, there are many valuable benefits available to Veterans, including VA home loans. For over 75 years, VA home loans have provided millions of Veterans and their families the opportunity to purchase their own homes.

As we consider the full impact of VA home loans, it’s important to both understand these great options for Veterans and to share them with those we know who may be able to benefit most. For a variety of different reasons, many Veterans don’t use their VA home loan options, so being knowledgeable about what’s available and how they work may be a game-changer for many.

Facts about 2019 VA Home Loans (most current data):

  • 624,546 home loans were guaranteed by the Veterans Administration.
  • 306,879 VA home loans were made without a down payment.
  • 2,055 grants totaling $118 million were provided to help seriously disabled Veterans purchase, modify, or construct a home to meet their needs.

VA Home Loans Often Offer:

  • No down payment options as long as the sales price isn’t higher than the home’s appraised value.
  • Better terms and interest rates than loans from other lenders.
  • Fewer closing costs, which may be paid by the seller.

Bottom Line

The best thing you can do today to celebrate Veterans Day is to share this information with those who can potentially benefit from these loan options. Let’s connect today to discuss your questions about VA home loan benefits. Thank you for your service.

Nov. 9, 2020

October Real Estate Insights

  • Colorado experienced a record high price for a single-family home and a record low for inventory.

  • Sellers have the opportunity to pick through multiple offers, weigh the pros, and get under contract. Oftentimes at a higher price than expected. 

  • Now is the time to get a great deal on a Condo/Attached Home. The demand has shifted, leaving Single Family Homes to battle out bidding wars, condos are in less demand putting you in the driver seat to score a beautiful maintenance-free home! 

  • Buyers need to be prepared to act quickly and confidently. A good agent knows how to make your offer more attractive and get you the home of your dreams!

Nov. 5, 2020

Should I Renovate My House Before I Sell It?

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

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Posted in Selling
Oct. 29, 2020

The Best High Schools in Denver, Colorado

The best high schools in Denver

 

Access to fine, upstanding schools takes a large toll on the decision of where to start a family. For potential parents, the surrounding educational facilities plays a key part in the desire to raise children. Education is one of the most important and influencing factors in children’s lives and has the potential to mold a child into a respectable young adult, dedicated to achieving their goal career-path. 

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Posted in Buying
Oct. 28, 2020

How Down Payment Assistance Opens the Door to Homeownership

How Down Payment Assistance Opens the Door to Homeownership | MyKCM

Many people are eager to buy a home right now while affordability continues to be a highlight of the current housing market. However, a recent survey by Sparks Research shows that 20% of first-time homebuyers cite a lack of financial education as a barrier to homeownership. This is definitely understandable. If you don’t feel comfortable with the financial process of buying a home, it’s hard to make a confident decision. In fact, four in five homebuyers say they need help to understand what they can even afford in the first place. This is why finding the right professionals to help you through the process is so important.

On top of that, the same survey reports over two-thirds of prospective homebuyers believe they’ll need assistance to save enough for a down payment. What they may not realize is that there are a lot of down payment assistance programs at the state and regional levels, and many of them have funds available for potential buyers. Down Payment Resources recently released its Q3 2020 Homeownership Program Index, which explains:

“The number of total programs is 2,340, and over 81 percent (81.1%) of programs currently have funds available for eligible homebuyers.”

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