Search Properties

Posts


Housing Affordability in 2017...Better or Worse?

Wed, Jan 25th 2017 10:30 am by Shirley Smith 2017 Real Estate

Will Housing Affordability Be a Challenge in 2017?

Will Housing Affordability Be a Challenge in 2017? | MyKCM

Some industry experts are saying that the housing market may be heading for a slowdown in 2017 based on rising home prices and a jump in mortgage interest rates. One of the data points they use is the Housing Affordability Index, as reported by the National Association of Realtors (NAR).

Here is how NAR defines the index:

“The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data.”

Basically, a value of 100 means a family earning the median income earns enough to quali...

Read Full Post →


Why Has My Home Not SOLD?

Tue, Jan 10th 2017 9:51 pm by Shirley Smith Sellers

The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the winter as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?

If your house hasn’t sold, it is probably because of the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.

 

If Your Home Hasn’t Sold Yet… Check the Price! | Simplifying The Market

Bottom Line

The housing market is hot. If you are not seeing the resu...

Read Full Post →


Tags: , , ,
No comments yet!

San Diego Housing Market

Wed, Nov 30th 2016 11:30 am by Shirley Smith Offers on Real Estate

A Lack of Listings Remains 'Huge' Challenge in the Market

A Lack of Listings Remains ‘Huge’ Challenge in the Market | MyKCM

The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures & short sales) are at their lowest mark in over 8 years. This has been, and will continue to be, a great year for real estate.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. According to the National Association of Realtors (NAR), buyer traffic and demand continues to be the strongest it has been in years. The supply of homes for sale has not kept up with this demand a...

Read Full Post →


Tags: , , , ,
No comments yet!

Interest Rates Moving?

Tue, Nov 29th 2016 11:15 am by Shirley Smith Financing

We are all hearing the rumblings that interest rates will be climbing in the coming year.  Maybe it's time to get off the fence and rethink purchasing.  Inventory is extremely low in San Diego County and with rates potentially on the rise as well as home prices you may get priced out of the market.  When your ready to talk real estate I'm here.

How Historically Low Interest Rates Increase Your Purchasing Power

How Historically Low Interest Rates Increase Your Purchasing Power | MyKCM

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.47%. Rates have remained at or below 3.5% each of the last 16 weeks, marking a historic low.

The interest rate you secure when buying ...

Read Full Post →

Is Now the Time to Sell?

Mon, Nov 28th 2016 11:30 am by Shirley Smith Seller Tips and Trends

NAR Reports Show Now Is a Great Time to Sell!

NAR Reports Show Now Is a Great Time to Sell! | MyKCM

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.

Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.

THE PENDING HOME SALES REPORT

The report announced that pending home sales (homes going into contract) are up 2.4% over last year, and have increased year-over-year now for 22 of the last 25 consecutive months.

Lawrence Yun, NAR’s Chief Econo...

Read Full Post →


Tags: , , , ,
No comments yet!



Tags: , , , ,
No comments yet!

Gap Between Homeowner’s & Appraiser’s Opinions Widen

Mon, Mar 21st 2016 11:30 am by Shirley Smith Home Values Update

Gap Between Homeowner’s & Appraiser’s Opinions Widen | Simplifying The Market

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the price when performing the appraisal for the bank.

Every month, Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation in their Home Price Perception Index (HPPI). Here is a chart showing that difference for each of the last 12 months.

Gap Between Homeowner’s & Appraiser’s Opinions Widen | Simplifying The Market

... Read Full Post →


Tags: ,
No comments yet!

The Main Reason to Use a Real Estate Professional when Selling Your House

Fri, Mar 18th 2016 5:45 pm by Shirley Smith General Real Estate

The Main Reason to Use a Real Estate Professional when Selling your House | Keeping Current Matters

Every homeowner hopes to accomplish five goals when selling their home:

  1. Sell it for the best price
  2. Sell it within a predetermined time
  3. Sell it with the least amount of hassles
  4. Close on the sale the same day they move into their new home

The fifth reason is the most obvious and the most important:

  1. They want to make sure it sells.

In order to dramatically increase the chances that the house sells, a homeowner should list with a real estate professional in their market. Why? Because agents have access to the vast majority of the available buyers!!

According to the National Association of Realtors(NAR) recently released 2016 Home Buyer and Seller Ge...

Read Full Post →



Tags: , , ,
No comments yet!

Why Buy?

Thu, Mar 17th 2016 2:00 pm by Shirley Smith General Real Estate


Tags: , ,
No comments yet!

What If I Wait Until Next Year To Buy A Home?

Wed, Mar 16th 2016 1:00 pm by Shirley Smith General Real Estate

As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first-time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home.

Let us explain.

There are many factors that influence the ‘cost’ of a home. Two of the major ones are the home’s appreciation over time, and the interest rate at which a buyer can borrow the funds necessary to purchase their home. The rate at which these two factors can change is often referred to as “The Cost of Waiting”.

What will happen over the next 12 months?

According to CoreLogic’s latest Home Price Index, prices are expected to...

Read Full Post →


Tags: , , , , ,
No comments yet!

Rock and Roll Hall Fame Music Exec Selling $19M Los Angeles Mansion

Tue, Mar 15th 2016 3:15 pm by Shirley Smith Celebrity Homes for Sale

Mo Ostin

Jesse Grant/WireImage for The Recording Academy

Mo Ostin may not be a familiar name to many, but music fans will recognize the talents he worked with over the years. The now retired music executive and former Warner Bros. CEO worked with everyone who matters in the music industry from Frank Sinatra to the Beach Boys to Nelly Furtado.

His 7-bedroom, 8-bathroom, 9,504 sq.ft. mansion in the prestigious community of Rivers Road, Los Angeles is in the market for $19 million.

Osten exterior

Mansion exterior: realtor.com

 

Complete privacy on more than 3 acres of lush land is emphasized with large gates that surround the compound. Ostin’s estate features an entr...

Read Full Post →

Home Is Where The Heart Is

Mon, Mar 14th 2016 3:00 pm by Shirley Smith General Real Estate

Home Is Where The Heart Is | Simplifying The Market

We discussed the reasons why homeownership makes sense, financially. Today, we wanted to touch on the emotional or ‘real’ reasons that many Americans strive to become homeowners. 

The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership.

The top 4 reasons to own a home cited by respondents were not financial.

1. It means having a good place to raise children & provide them with a good education

From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may ha...

Read Full Post →


Tags: , , , , ,
No comments yet!

Yes, Home Prices Are Rising. No, a New Housing Bubble is NOT Forming

Mon, Mar 14th 2016 12:00 pm by Shirley Smith General Real Estate

Yes, Home Prices Are Rising. No, a New Housing Bubble is NOT Forming | Keeping Current Matters

We recently reported that home prices are continuing to rise across most of the nation. This has created concern in some pundits that a housing bubble, like we saw ten years ago, is forming again. We want to explain why these concerns are unfounded.

The current increase in home values can be easily explained by the theory of supply and demand. Right now, the number of families looking to purchase a home is greater than the supply of homes on the market.

Here is a chart that explains how the months’ supply of housing inventory impacts home values:

According to the latest Existing Home Sales Report from the National Associatio...

Read Full Post →

Best San Diego Neighborhoods for Beach-Lovers

Fri, Mar 11th 2016 3:00 pm by Shirley Smith San Diego County

Carlsbad, San Diego

Photo: San Diego.org

If you are relocating to San Diego or already living in the city but are looking for a new San Diego home and consider yourself a beach lover – you have come and searched in the right place.

One of the many perks of Southern California living is the proximity to the beach. If this is a priority for you in your search for a home – whether as a first-time homebuyer, or seasoned homebuyer; for relocation or investment, there are San Diego neighborhoods ideal for you. These coastline neighborhoods will satisfy your love for the ocean. Check out these areas near San Diego beaches:

La Jolla

This is one of the most popular destinations in th...

Read Full Post →

Housing Market To “Spring Forward” This Year

Fri, Mar 11th 2016 12:30 pm by Shirley Smith General Real Estate

Housing Market To “Spring Forward” This Year | Keeping Current Matters

Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.

Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.

Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows.

... Read Full Post →


Tags: , , , ,
No comments yet!

How To Get The Most Money When Selling Your House

Thu, Mar 10th 2016 3:15 pm by Shirley Smith General Real Estate

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically the demand for your house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. In that way, the seller wi...

Read Full Post →


Tags: , , ,
No comments yet!

Put Your Housing Cost To Work For You!

Wed, Mar 9th 2016 3:00 pm by Shirley Smith Home Values Update

There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home. As we have said before, mortgage interest rates are still near historic lows and rents continue to rise.

Housing Cost & Net Worth

Whether you rent or buy, you have a monthly housing cost.

As a buyer, you are contributing to YOUR net worth.

Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls“forced savings.”

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The principal...

Read Full Post →


Tags: , , ,
No comments yet!

California Homeowners Can Now Keep Homes Out of Probate: Adopts Transfer-on-Death Deeds

Wed, Mar 9th 2016 11:00 am by Shirley Smith 2016 New Laws in Real Estate California

In September 2015, Gov. Jerry Brown signed AB139, which allows "poor man's trusts" in California starting Jan. 1, 2016. At least five previous attempts for passing similar legislations have failed in the past.

With this new law in effect, California homeowners have a simple and inexpensive way to leave their California real estate without probate to their heirs, which otherwise would have been a costly and time-consuming process.

This is called a “revocable transfer on death deed,” similar to payable on death accounts offered by financial institutions and the banking sector. “Poor man’s trust” it is called because the death accounts have been nicknamed “poor man’s trust.” They avoid the...

Read Full Post →


Tags: , , , ,
No comments yet!