Top Missouri Real Estate Agent

KCM CrewAugust 28, 2025

What Everyone’s Getting Wrong About the Rise in New Home Inventory

You may have seen talk online that new home inventory is at its highest level since the crash. And if you lived through the crash back in 2008, seeing new construction is up again may feel a little scary. But here’s what you need to remember: a lot of what you see online is designed to get clicks. So, you may not be getting the full story. A closer look at the data and a little expert insight can change your perspective completely. Why This Isn’t Like 2008 While it’s true the number of new homes on the market hit its highest level since the crash, that’s not a reason to worry. That’s because new builds are just one piece of the puzzle. They don’t tell the full story of what’s happening today. To get the real picture of how much inventory we have and how it compares to the surplus we saw back then, you’ve got to look at both new homes and existing homes (homes that were lived in by a previous owner). When you combine those two numbers, it’s clear overall supply looks very different today than it did around the crash (see graph below): So, saying we’re near 2008 levels for new construction isn't the same as the inventory surplus we did the last time. Builders Have Actually Underbuilt for Over a Decade And here’s some other important perspective you’re not going to get from those headlines. After the 2008 crash, builders slammed on the brakes. For 15 years, they didn’t build enough homes to keep up with demand. That long stretch of underbuilding created a major housing shortage, which we’re still dealing with today. The graph below uses Census data to show the overbuilding leading up to the crash (in red), and the period of underbuilding that followed (in orange): Basically, we had more than 15 straight years of underbuilding – and we’re only recently starting to slowly climb out of that hole. But there’s still a long way to go (even with the growth we’ve seen lately). Experts at Realtor.com say it would roughly 7.5 years to build enough homes to close the gap. Of course, like anything else in real estate, the level of supply and demand is going to vary by market. Some markets may have more homes for sale, some less. But nationally, this isn’t like the last time. Bottom Line Just because there are more new homes for sale right now, it doesn’t mean we’re headed for a crash. The data shows today’s overall inventory situation is different. If you have questions or want to talk about what builders are doing in your area, connect with a local agent.

KCM CrewAugust 27, 2025

History Shows the Housing Market Always Recovers

Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. For every 100 new listings in June, about 21 homes were taken off the market. And if you’ve made that same choice, you’re probably frustrated things didn’t go the way you wanted. It’s hard when you feel like the market isn’t working with you. But while slowdowns can be painful in the moment, history tells us they don’t last forever. History Repeats Itself: Proof from the Past This isn’t the first time the housing market has experienced a slowdown. Here are some other notable times when home sales dropped significantly: 1980s: When mortgage rates climbed past 18%, buyers stopped cold. Sales crawled for years. But as soon as rates came down, sales surged back, and the market found its footing again. 2008: The Great Financial Crisis was one of the toughest housing downturns in history. Sales and prices both dropped hard. Still, sales rebounded once the economy recovered. 2020: During COVID, sales disappeared overnight, and many people had to put their plans on hold. Yet the recovery was faster than anyone expected, with a surge of buyers re-entering the market as soon as restrictions eased. The lesson is clear: no matter the cause, the market always rebounds. Today’s Situation: Where We Stand Now Over the past few years, home sales have been sluggish. And one big reason why is affordability. Mortgage rates rose at a record-breaking pace in 2022, and home prices were climbing at the same time. That combination put buying out of reach for many people. And when demand slows, home sales do too. The Outlook: Why Things Will Improve But here’s the encouraging part. Forecasts show sales are expected to pick up again moving into 2026. Last year, just about 4 million homes sold (shown in gray in the graph below). And this year is looking very similar (shown in blue). But the average of the latest forecasts from Fannie Mae, the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR) show the experts believe there will be around 4.6 million home sales in 2026 (shown in green). And a big reason behind that projection is the expectation that mortgage rates will come down a bit, making it easier for more buyers to jump back in. That means what’s happening now is part of a cycle we’ve seen before. Every slowdown in the past has eventually given way to more activity, and this one will too. Just like the 1980s, 2008, and 2020, today’s dip in home sales is temporary. What That Means for You If you’ve paused your moving plans, you did what you thought was right. Your frustration is valid. But it’s also important to remember the bigger picture. Housing slowdowns don’t last forever. That’s where your local real estate agent comes in. Their job is to keep a close eye on the market for you. When the first signs of a rebound appear, they’ll help you spot the shift early so you can relist with confidence. Bottom Line If today’s housing market feels stuck, remember it’s never stayed down for good. Slowdowns end, activity returns, and people get moving again. So, connect with a local real estate agent, because when the next wave of buyers shows up, you won’t want to miss it. As activity picks up again, will you be ready to put your house back on the market, or do you need to move sooner?

KCM CrewAugust 25, 2025

Should You Still Expect a Bidding War?

If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go. While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025. That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) (see graph below): This trend means you should face less competition when you buy. That gives you more time to make decisions and the ability to negotiate price or terms. It Still Depends on Where You’re Buying Of course, national trends don’t tell the full story. Local dynamics matter, a lot. This second graph uses survey data from John Burns Research & Consulting (JBREC) and Keeping Current Matters (KCM) to break things down by region to prove just how true that is. It shows, while the share of homes getting multiple offers has dropped pretty much everywhere, some areas are still seeing more offers than others: In the Northeast, 34% of homes (roughly 1 in 3) are still receiving multiple offers. That’s more than the national average. But in Southeast, that number drops to just 6%. What’s behind the difference? In general, the areas still seeing bidding wars tend to have lower-than-normal inventory. That imbalance between buyers and available homes keeps pressure on prices and competition. But markets with more listings are seeing conditions cool – and that means fewer bidding wars. Sellers Are More Flexible Than You Might Think Here’s another shift to show you just how much things have changed. According to a Redfin report, almost half of sellers are offering concessions, like covering their buyer’s closing costs or dropping their asking price to get their house sold. That’s a clear sign this isn’t the same ultra-competitive market we saw a few years ago. Back then, sellers rarely compromised. And buyers often waived their inspection or appraisal to try to make their offer stand out. Now, things are different. But again, how often this is happening is going to vary based on where you’re looking to buy. And that’s why you need a local agent’s expertise. Bottom Line If concerns about bidding wars have been holding you back, it may be time to take another look. Nationally, competition is down. In some markets, it’s down significantly. And with more sellers offering concessions, buyers today have more power and flexibility than they’ve had in a long time. Want to find out what the market looks like where you’re buying? Connect with a local agent.

KCM CrewAugust 21, 2025

From Frenzy to Breathing Room: Buyers Finally Have Time Again

If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly, someone else swooped in and bought it – sometimes even sight unseen. That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging. But here’s what you need to know: those days are behind us. Today’s market is moving slower, in the best possible way. And that’s creating more opportunity for buyers who felt shut out in recent years. The Stat That Changes Everything According to the latest data, homes are spending an average of 58 days on the market. That’s much more normal. And it’s a big improvement compared to the height of the pandemic, when homes were flying off the shelves in a matter of days (see graph below): That means you now have more time to make decisions than you have at any point in the past five years. And that’s a big deal. Now, you’ve got: Time to think. Time to negotiate. Time to make a smart move without all the pressure. More Time Means Less Stress (and More Leverage) Based on the data in the graph above, you have an extra week to decide compared to last year. And nearly double the time you would have had at the market’s peak. Back then, fear of missing out drove buyers to act fast, sometimes too fast. Today, the pace is slower, which means you’re in control. As Bankrate puts it: “For years, buyers have been racing to snag homes because of the fierce competition. But the market’s cooled off a bit now, and that gives buyers some breathing room. Homes are staying listed longer, so buyers can slow down, weigh their options and make more confident decisions.” With more homes on the market and fewer buyers racing to grab them, the balance has shifted. Bidding wars aren’t as common, and that means you may have room to negotiate. And you can actually take a breath before you make your decision. More listings + a slower pace = less stress and more opportunity But, and this is important, it still depends on where you’re buying. Nationally, homes are moving slower. But your local market sets your real pace. Some states are moving faster than others. It may even vary down to the specific zip code or neighborhood you’re looking at. And that’s why working with an agent to know what’s happening in your area is more important than ever. To see how your state compares to the national average (58 days), check out the map below: As Realtor.com explains: “While national headlines might suggest a buyer’s market is taking hold, the reality on the ground depends heavily on where and what you’re trying to buy. Local trends can diverge sharply from national averages, especially when you factor in price range, property type, and post-pandemic market dynamics.” A smart local agent can tell you exactly when to move fast and when you can take your time, so you never miss the right home for you. Bottom Line If the chaos of the past few years drove you to hit pause, this is your green light. The market’s pace has shifted. You have more time. More options. More power. And with the right agent guiding you, you’re in the best position you’ve been in for years. Connect with a local agent to talk about what the pace looks like in your area, and if now could be the right time for you to re-enter the market.

KCM CrewAugust 20, 2025

Condos Could Be a Win for Today’s Buyers

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in. For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location. And right now, condos are one of the most buyer-friendly parts of the market. Condo Inventory Is Up, And That Means More Choice According to the National Association of Realtors (NAR), there are 194,000 condos for sale right now. That’s the second highest amount we’ve seen in the last three years (see graph below): Just remember, this is the national figure. The exact number is going to vary based on where you’re looking to buy. But, generally speaking, you have more options and less competition. You’re not stuck waiting for something to pop up or rushing into an offer just to beat someone else to it. You’ve got plenty to choose from. And if you’re particular about layout, location, or amenities, this is your chance to be selective. That’s a big shift from the market frenzy of just a few years ago. Compared to early 2022, we’ve got nearly double the condos available now. That gives you more breathing room to find the right fit. Prices Are Cooling, and Buyers Hold More Negotiating Power And since there are more for sale, many sellers are more open to negotiating right now. So, you may be able to get a better price. As Redfin explains: “. . . condo buyers in many cities may be able to find sellers who are willing to give concessions and/or sell for less than their asking price.” Condo prices are starting to ease in many markets. According to Intercontinental Exchange (ICE), condo prices dipped 1.3% in June compared to last year. And over half of the top 100 U.S. metros saw condo prices drop slightly year-over-year. Data from Redfin shows what the recent dip in prices looks like (see graph below): That doesn’t just help with affordability, it also shifts the power dynamic. Condo buyers in many markets are now in a position to negotiate on price and ask for concessions, like help with closing costs. Bottom Line Condos aren’t just a fallback option. In today’s market, they’re one of the most strategic ways to buy. With more options, softening prices, and more room to negotiate, now could be the right time to make your move. Could a condo check more boxes than you expected? Talk through your options with a local real estate agent and find out.

KCM CrewAugust 18, 2025

More Contracts Are Falling Through. Here’s How To Get Ahead.

When you sell a house, the last thing you want is for the deal to fall apart right before closing. But according to the latest data from Redfin, that’s happening a bit more often lately. The good news is, it’s completely avoidable if you lean on an agent for insight into why that is and how to avoid it happening to you. This June, 15% of pending home sales fell through. That means those buyers backed out of their contracts. That’s not too much higher than the norm of roughly 12% from 2017-2019, but it’s still an increase. And it’s one you don’t want to have to deal with. The key to avoiding this headache is knowing what’s causing the issues that lead to a buyer walking away. A recent survey from John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) finds that agents reported the #1 reason deals are falling apart today is stemming from the home inspection (see graph below): Here’s why. With high prices and mortgage rates stretching buyers’ budgets, they don’t have a lot of room (or appetite) for unexpected repairs. Not to mention, buyers have more options to choose from now that there are more homes on the market. So, if the inspection turns up a major issue, they may opt to walk away. Afterall, there are plenty of other homes they could buy instead. Or, if the seller isn’t willing to tackle repairs, a buyer may back out because they don’t want the expense (and the hassle) of dealing with those issues themselves. The good news is, there’s a way you can get ahead of any unpleasant surprises as a seller, and that’s getting a pre-listing inspection. It’s not required, but the National Association of Realtors (NAR) explains why it’s helpful right now: “To keep deals from unraveling . . . it allows a seller the opportunity to address any repairs before the For Sale sign even goes up. It also can help avoid surprises like a costly plumbing problem, a failing roof or an outdated electrical panel that could cause financially stretched buyers to bolt before closing.” What’s a Pre-Listing Inspection? It's exactly what it sounds like: a professional home inspection you schedule before your home hits the market. Here’s what it can do for you: Give you time to fix what matters. You’ll know what issues could come up in the buyer’s inspection. So, you’ll have time to take care of them before anyone even walks through the door. Avoid last-minute renegotiations. When buyers uncover unexpected issues after you’re under contract, it opens the door for concessions you may have to make like price drops or repairs, or worse, a canceled deal. A pre-listing inspection helps you stay ahead of those things before they become deal breakers. Show buyers you’re serious. When your home is clean, well-maintained, and already vetted, buyers see that. It builds trust and can help you sell faster with fewer back-and-forth negotiations. The bottom line? A few hundred dollars upfront can save you thousands later. Should Every Seller Do This? Not necessarily. Your real estate agent can help you decide what makes the most sense for your situation, your house, and your market. If you decide to move forward with a pre-listing inspection, your agent will guide you every step of the way. They’ll: Advise on whether to fix or disclose each issue Help you prioritize repairs based on what buyers in your area care about Make sure you understand your local disclosure laws Bottom Line If you want to avoid potential snags in your deal, a pre-listing inspection could be the way to go. Connect with an agent to go over whether a pre-listing inspection is the right move for your house and market. Would you rather find out about a major repair now, when you can handle it on your terms – or after you’re under contract, when the clock is ticking?

KCM CrewAugust 14, 2025

Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff

Mortgage rates are still a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. And, as a result, in early August mortgage rates dropped to their lowest point so far this year (6.55%). While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect? According to the latest forecasts, rates aren’t expected to fall dramatically anytime soon. Most experts project they’ll stay somewhere in the mid-to-low 6% range through 2026 (see graph below): In other words, no big changes are expected. But small shifts, like the one we just saw, are still likely. Each time there’s changing economic news, there’s a chance mortgage rates will react. And with so many reports coming out this week, we’ll get a better feeling of where the economy and inflation are headed – and how rates will respond. What Rate Would Get Buyers Moving Again? The magic number most buyers seem to be watching for is 6%. And it’s not just a psychological benchmark; it has real impact. A recent report from the National Association of Realtors (NAR) says if rates reach 6%: 5.5 million more households could afford the median-priced home And roughly 550,000 people would buy a home within 12 to 18 months That’s a lot of pent-up demand just waiting for the green light. And if you look back at the graph above, you’ll see Fannie Mae thinks we’ll hit that threshold next year. That raises an important question: Does it really make sense to wait for lower rates? Because here’s the tradeoff. If you’re waiting for 6%, you need to realize a lot of other people are too. And when rates do continue to inch down and more buyers jump into the market all at once, you could face more competition, fewer choices, and higher home prices. NAR explains it like this: "Home buyers wishing for lower mortgage interest rates may eventually get their wish, but for now, they’ll have to decide whether it’s better to wait or jump into the market." Consider the unique window that exists right now: Inventory is up = more choices Price growth has slowed down = more realistic pricing You may have more room to negotiate = you could get a better deal These are all opportunities that will go away if rates fall and demand surges. That’s why NAR says: "Buyers who are holding out for lower mortgage rates may be missing a key opening in the market." Bottom Line Rates aren't expected to hit 6% this year. But when they do, you’ll have to deal with more competition as other buyers jump back in. If you want less pressure and more negotiating power, that opportunity is already here – and it might not last for long. It all depends on what happens in the economy next. Talk to a local agent about what’s happening in your area and whether it makes sense to make your move now, before everyone else does.

KCM CrewAugust 13, 2025

Are These Myths About Buying a Newly Built Home Holding You Back?

If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity. Myth 1: New Homes Are More Expensive It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now. Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home): So, why’s this happening? As Heather Long, Chief Economist at Navy Federal Credit Union, explains: “This largely reflects two trends: New homes are getting smaller on average, and builders are doing more price cuts.” If you’ve ruled out new construction based on price alone, it’s time to take another look. Talk to your local real estate agent to see what’s available (and at what price points). Myth 2: Builders Don't Negotiate Many buyers assume builders aren’t going to play ball when it comes time to negotiate. But that's just not the case. A number of builders are sitting on finished inventory they want to sell quickly. And that makes them more open to compromising. Mark Fleming, Chief Economist at First American, explains a builder: “. . . would love to sell you the home because they’re not living in it. It costs money not to sell the home. And many of the public home builders have said in their earnings calls that they are not going to be pulling back on incentives, especially the mortgage rate buydown . . .” That means you may find builders more flexible than individual sellers, and more motivated to toss in incentives to get the deal done. According to Zonda, 75% of new home communities offered incentives on new homes considered quick move-ins in June. Myth 3: They Don’t Build Them Like They Used To Some people think newer homes lack the craftsmanship of older ones. But here’s a reality check. Quality can vary in any era. And using a reputable builder matters more than the build date. According to the National Association of Home Builders (NAHB), a good way to gauge quality is by talking to buyers who have purchased from that builder recently. In an article, NAHB explains: “Any high-quality builder should be ready to provide you with the names and phone numbers of satisfied customers. If they cannot, consider that a red flag and walk away.” The article suggests asking those buyers questions like: Did the builder meet their expectations? Would you use that same builder, if you were to do it again? But you can also ask your agent about the builder’s reputation. Generally, agents know about the builders active in your area and may even have experience with past clients who have bought a home in one of that builder’s communities. Myth 4: You Don't Need Your Own Real Estate Agent This might be the biggest myth of all. The truth is, when you buy a brand-new home, using your own agent is even more important. Builder contracts have different fine print, and you’ll want a pro on your side who can really explain what you’re signing and advocate for your best interests. These stats seem to prove that’s the case. In a Realtor.com survey, buyers who purchased a newly built home rated their agents far more helpful than the builder (or the builder’s representative) during the process (see visual below): Bottom Line Don’t let misconceptions keep you from exploring one of the most promising options in today’s housing market. Whether you’re curious about what’s being built nearby or wondering if a new home fits your budget, connect with a local agent. You might be surprised by what’s out there.

KCM CrewAugust 12, 2025

What You Need To Know About Concessions

Some Highlights Now that there are more homes for sale, buyers have more options. And sellers need to be more flexible to close the deal. That's why almost half of homeowners are making some type of concession. This can include covering closing costs, paying for repairs, or dropping the price. Not sure which concessions to offer? Connect with a local agent so you know what’s working for sellers in your market.

KCM CrewAugust 11, 2025

Online Home-Buying Search Terms Recently Hit 2-Year High

Believe it or not, there are clear signs buyer interest is heating up again. Let’s talk about what’s really going on behind the scenes, and why the housing market might not be as quiet out there as it seems. Buyers Are Looking, and Search Trends Prove It One of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends, searches for phrases like “home for sale” have been climbing steadily this year. The graph below shows an index of two common homebuyer search phrases and how popular they were on Google over the past two years. The higher the line goes, the more popular that phrase was. A 100 on the graph shows the most popular time for each phrase: Here’s what really stands out in this data. Both phrases have been trending up overall this year, and they hit a recent high in mid-July. That’s a pretty strong sign that curiosity (and maybe even interest) in buying a home is improving. That kind of momentum means something. Despite high mortgage rates and home prices, buyers haven’t given up. They're still watching the market. They’re still browsing. And many are just waiting for the right opportunity to act. Maybe your house is exactly what they’re looking for. But you’ll never know if it’s not listed yet. Now, this doesn’t mean demand is going to surge like it did during the pandemic. It just means some buyers are deciding they can’t wait any longer. And those are exactly the kind of buyers you want. Motivated. Eager. Ready to move when the right house comes along. So, if you’re holding off on selling because you’re not sure if the demand is there, this data suggests it might be time to rethink your plans. Because while it’s not 2021-level demand, it doesn’t need to be. You don’t need ten offers to sell your home. You just need the right buyer. And that buyer may be searching for a house like yours right now. Bottom Line If you’ve been thinking, “I’ll sell once buyers come back,” you might want to take another look. Online search trends show they’re already interested. What would make you feel confident putting your house on the market this year? Connect with a local real estate agent to talk through it.

KCM CrewJuly 31, 2025

The 3 Things You Risk by Pricing Too High

When selling your house, the price you choose isn’t just a number, it's a strategy. And in today’s market, that strategy needs to be sharp. The number of homes for sale is climbing. And that means buyers have more choices and can be more selective. If your price doesn’t line up with what else is out there, they’ll scroll right past it and go on to the next one. Pricing right from the start is your best move – and a great agent can help make sure you do. Overpricing Comes at a Cost And more sellers are finding that out the hard way. They list their house based on how things were a year ago – or based on a neighbor’s sale that happened under completely different circumstances. Then, when their house doesn’t sell, they’re left with three tough choices: Drop the price: Cutting the price might help get more eyes on the house again, but it can also trigger red flags. Buyers may wonder what’s wrong with it. And that’s going to impact any offers you get after the price cut. Take it off the market: Some sellers give up on the idea of selling right now. The worst part about this is it means putting their future plans on the back burner. That dream of more space, downsizing, or relocating? On pause. Rent it out: Others go the landlord route, but managing tenants and navigating leases isn’t always the simple fallback it seems. Renting can work, but it’s often a lot more hassle than people expect. None of those options were part of the original plan. And honestly, none of them are where you should end up if you wanted to sell. Here’s a look at how a local agent’s expertise can help you avoid these headaches. Let's use price cuts as an example. Where You Live Makes a Difference While the number of price cuts is up nationally, data shows some parts of the country are seeing far more of them than others. It all comes down to how much inventory has grown in that area (see map below): As Realtor.com explains: “Regionally, price reductions in June were significantly more common in the South and West (23% of listings) than they were in the Northeast (13% of listings), reflecting the inventory divergence across these regions.” That means pricing isn’t one-size-fits-all. What’s happening nationally might not reflect what’s happening in your zip code, and that’s why you shouldn’t try to determine your list price on your own. How a Great Agent Helps You Nail the Price A skilled agent doesn’t just toss out a number. As Zillow says: “Well-priced homes are more likely to sell quickly, but pricing your home to sell quickly and for maximum dollar requires strategy and knowledge of your local market. You need to have a clear-eyed view of your home in relation to the competition, and knowledge about whether you’re in a buyers or sellers market. It also helps to know what buyers in your area can afford.” And that’s all knowledge your agent will have. They study your local market, compare recent sales, and factor in your goals and buyer behavior. Based on what’s happening where you live, sometimes the best play will be pricing right at current market value. Other times pricing a little lower actually will spark more offers and ultimately get you a better final sale price. So don’t skimp on the strategy or on your agent. With their local market know-how, you’ll be able to sell quickly, even in a shifting market. Bottom Line Overpricing can lead to tough choices you never want to face. But with the right price, and the right guidance, you can skip the stress and sell with confidence. Connect with a local agent so you have a pricing strategy that works for today’s market and gets you where you want to go.

KCM CrewJuly 30, 2025

What Credit Score Do You Really Need To Buy a Home?

According to Fannie Mae, 90% of buyers don’t actually know what credit score lenders are looking for, or they overestimate the minimum needed. Let that sink in. That means most homebuyers think they need better credit than they actually do – and maybe you’re one of them. And that could make you think buying a home is out of reach for you right now, even if that’s not necessarily true. So, let’s look at what the data really says about credit scores and homebuying. There’s No One Magic Number There’s no universal credit score you absolutely have to have when buying a home. And that means there’s more flexibility than most people realize. Check out this graph showing the median credit scores recent buyers had among different home loan types: Here's what’s important to realize. The numbers vary, and there’s no one-size-fits-all threshold. And that could open doors you thought were closed for you. The best way to learn more is to talk to a trusted lender. As FICO explains: “While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single ‘cutoff score’ used by all lenders, and there are many additional factors that lenders may use . . .” Why Your Score Still Matters When you buy a home, lenders use your credit score to get a sense of how reliable you are with money. They want to see if you typically make payments on time, pay back debts, and more. Your score can impact which loan types you may qualify for, the terms on those loans, and even your mortgage rate. And since mortgage rates are a big factor in how much house you’ll be able to afford, that may make your score feel even more important today. As Bankrate says: “Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.” That still doesn’t mean your credit has to be perfect. Even if your credit score isn’t as high as you’d like, you may still be able to get a home loan. Want To Boost Your Score? Start Here And if you talk to a lender and decide you want to improve your score (and hopefully your loan type and terms too), here are a few smart moves according to the Federal Reserve Board: Pay Your Bills on Time: This is a big one. Lenders want to see you can reliably pay your bills on time. This includes everything from credit cards to utilities and cell phone bills. Consistent, on-time payments show you’re a responsible borrower. Pay Down Your Debt: When it comes to your available credit amount, the less you’re using, the better. Focus on keeping this number as low as possible. That makes you a lower-risk borrower in the eyes of lenders – making them more likely to approve a loan with better terms. Review Your Credit Report: Get copies of your credit report and work to correct any errors you find. This can help improve your score. Don’t Open New Accounts: While it might be tempting to open more credit cards to build your score, it’s best to hold off. Too many new credit applications can lead to hard inquiries on your report, which can temporarily lower your score. Bottom Line Your credit score doesn’t have to be perfect to qualify for a home loan. But a better score can help you get better terms on your home loan. The best way to know where you stand and your options for a mortgage is to connect with a trusted lender.

KCM CrewJuly 29, 2025

Home Price Forecasts for the Second Half of 2025

Some Highlights With all the headlines circulating recently, you may be wondering what’s next for home prices? Here’s what the expert forecasts say. Home prices are still forecast to rise nationally this year, just at a much slower pace. But price trends are going to vary by area. To have a quick conversation about what's happening in your local market, connect with a real estate agent.

KCM CrewJuly 28, 2025

Today’s Tale of Two Housing Markets

Depending on where you live, the housing market could feel red-hot or strangely quiet right now. The truth is, local markets are starting to move in different directions. In some places, buyers are calling the shots. In others, sellers still hold the power. It’s a tale of two markets. What’s a Buyer’s Market vs. a Seller’s Market? In a buyer’s market, there are more homes for sale and not as many buyers. That means homes sit longer, buyers have more negotiating power, and prices tend to soften as a result. It’s simple supply and demand. On the flip side, a seller’s market happens when there aren’t enough homes available for the number of people looking to buy them. Because buyers have to compete with each other to get the house they want, that leads to faster sales, multiple offers, and rising prices. Right now, both of these scenarios are playing out, depending on where you are. So, how do you know what kind of market you’re in? Lean on a local real estate agent. They’ll explain what’s really happening in your area based on these key drivers. The Number of Buyers and Sellers by Region One of the biggest factors impacting each market is the number of active buyers and sellers. According to Redfin, here’s what that looks like by region (see graph below): Today, the Northeast and Midwest are more likely to be seller’s markets. Buyers still outnumber sellers there, and that keeps things tilted in favor of homeowners. Generally speaking, homes are selling faster and prices are rising in those areas. But the South and West are leaning more toward buyer’s markets. There are more sellers than buyers, which means more listings to choose from and less competition among buyers. That’s a major shift from a few years ago when sellers had the advantage almost everywhere. Today, your local conditions matter more than ever – and they can vary even from one neighborhood to the next. Price Trends Mirror the Buyer/Seller Divide When inventory and buyer activity shift, so do prices. In places where demand still outpaces supply, like much of the Northeast and Midwest, prices are continuing to climb. But in parts of the South and West where inventory is up and demand has cooled, prices are softening. And that’s a plus for buyers looking to negotiate in those areas. Here’s the latest price data from ResiClub to show how this divide is shaking out across the top metros in the country (see graph below): This is why it’s the tale of two markets. Roughly half of the top 50 metros are up, and half are relatively flat or down. That said, don’t panic if you own a home in a market where prices are dipping. Most homeowners have built up significant equity over the past few years, and chances are you have too. So, you’re likely still come out way ahead when you sell. Why Local Insights Matter Even in regions that lean more buyer-friendly right now, there will be cities, towns, and even neighborhoods that don’t follow the regional trends. That’s why an agent’s local market expertise is so important. They can help you understand what’s happening all the way down to a zip code level, including: Whether your area is favoring buyers or sellers How to set the right price or craft an offer strategy based on local trends The best way to make your move happen, no matter what’s happening in the market Bottom Line In a market where conditions vary this much from place to place, success starts with understanding every aspect of your local area. Connect with a local agent so you’ve got an expert in your corner who knows exactly how to guide you through your market, wherever you are.

KCM CrewJuly 24, 2025

Housing Market Forecasts for the Rest of 2025

If you’ve been watching the market, you’ve likely noticed a few changes already this year. But what’s next? From home prices to mortgage rates, here’s what the latest expert forecasts suggest for the rest of 2025 – and what these shifts could mean for you. Will Home Prices Fall? Many buyers are hoping home prices will come down soon. And recent headlines about prices dipping in some areas are making some people believe it's just a matter of time before there’s a bigger drop. But here are the facts. While home price growth is slowing down, that doesn’t mean we’re headed for a crash. As NAHB explains: “House price growth slowed . . . partly due to a decline in demand and an increase in supply. Persistent high mortgage rates and increased inventory combined to ease upward pressure on house prices. These factors signaled a cooling market, following rapid gains seen in previous years.” But experts say, even with that slowdown, prices will still rise this year at the national level. The average of 8 leading forecasters shows prices are expected to go up 1.5-2% in 2025 (see graph below): That means, if you’re waiting for a major drop, experts agree that’s just not in the cards. Keep in mind, while some markets are already seeing prices come down slightly, the average dip is just -3.5%. That’s a far cry from the nearly 20% decline the market experienced during the 2008 crash. Plus, those small changes are easily absorbed when you consider how much home prices have climbed over the past few years. Data from the Federal Housing Finance Agency (FHFA) shows prices are up 55% nationally compared to just 5 years ago. The takeaway? Prices aren’t crashing. They’re expected to keep climbing – just not as quickly these days. And some may argue they’ll be closer to flat by the end of this year. But, again, this is going to vary by market, with some local ups and downs. So, lean on a pro to see the latest price trends for your area. Will Mortgage Rates Come Down? Another common thought among today’s buyers is: I’m just going to wait for rates to come down. But is that a smart strategy? According to Yahoo Finance: "If you’re looking for a substantial interest rate drop in 2025, you’ll likely be left waiting. The latest news from the Federal Reserve and other key economic data point toward steady mortgage rates on par with what we see today." In other words, don’t try to time the market or wait for a drop that may not be coming. Most experts say rates will remain in the 6s, and current projections have them settling in the mid-6% range by the end of this year (see chart below): And that’s not a big change from where they are right now. So, if you need to move, let’s talk about how to make it happen and what you should watch for. Because while rates may not be as low as you want them to be, you don’t want to put your needs on the back burner, hoping for something the data shows isn’t likely to happen. Working with an expert who is keeping an eye on all the economic factors that can influence mortgage rates is going to be essential this year. That’s because changes in things like inflation and other key drivers could impact how rates move going forward. The Takeaway for Buyers and Sellers Whether you're buying, selling, or thinking about doing both, this market requires strategy, not guesswork. Prices are still rising nationally (just more slowly), and rates are projected to stay pretty much where they are, so the bigger picture is one of moderation – not a meltdown. Bottom Line If you want to make a move, your best bet is to focus on your personal situation – not what the headlines say – and work with a real estate pro who knows how to navigate the shifting conditions in your local market. Connect with a local agent to go over what’s happening in your area and build a plan that works for you.

KCM CrewJuly 23, 2025

The U.S. Foreclosure Map You Need To See

Foreclosure headlines are making noise again – and they’re designed to stir up fear to get you to read them. But what the data shows is actually happening in the market tells a very different story than what you might be led to believe. So, before you jump to conclusions, it’s important to look at the full picture. Yes, foreclosure starts are up 7% in the first six months of the year. But zooming out shows that’s nowhere near crisis levels. Here’s why. Filings Are Still Far Below Crash Levels Even with the recent uptick, overall foreclosure filings are still very low. In the first half of 2025, just 0.13% of homes had filed for foreclosure. That’s less than 1% of homes in this country. In fact, it’s even far less than that at under a quarter of a percent. That’s a very small fraction of all the homes out there. But like with anything else in real estate, the numbers vary by market. Here’s the map you need to see that shows how foreclosure rates are lower than you might think, and how they differ by local area: For context, data from ATTOM shows in the first half of 2025, 1 in every 758 homes nationwide had a foreclosure filing. Thats the 0.13% you can see in the map above. But in 2010, back during the crash? Mortgage News Daily says it was 1 in every 45 homes. Today’s Numbers Don’t Indicate a Market in Trouble But here’s what everyone remembers… Leading up to the crash, risky lending practices left homeowners with payments they eventually couldn’t afford. That led to a situation where many homeowners were underwater on their mortgages. When they couldn’t make their payments, they had no choice but to walk away. Foreclosures surged, and the market ultimately crashed. Today’s housing market is very different. Lending standards are stronger. Homeowners have near record levels of equity. And when someone hits financial trouble, that equity means many people can sell their home rather than face foreclosure. As Rick Sharga, Founder of CJ Patrick Company, explains: “. . . a significant factor contributing to today’s comparatively low levels of foreclosure activity is that homeowners—including those in foreclosure—possess an unprecedented amount of home equity.” No one wants to see a homeowner struggle. But if you’re a homeowner facing hardship, talk to your mortgage provider. You may have more options than you think. Bottom Line Recent headlines may not tell the whole story, but the data does. Foreclosure activity remains low by historical standards and is not a sign of another crash. If you’re simply watching the market and want to understand what’s really going on, or how this impacts the value of your home, connect with an agent. They’ll help you separate fact from fear by showing you what the data really says.

KCM CrewJuly 22, 2025

The Latest Mortgage Rate Forecasts

Some Highlights If you’re tempted to delay your move in hope that mortgage rates will come down, you may want to rethink that strategy based on the latest forecast. Experts say mortgage rates are projected to stay in the 6s this year. So don’t expect a big drop. If you want to talk about what this means for your move, connect with a real estate agent. As forecasts change, having an expert who can keep you updated is essential.

KCM CrewJuly 21, 2025

Don’t Make These Mistakes When Selling Your House

Are you thinking about selling your house? Some common mistakes today can make the process more stressful or even cost you money. Fortunately, they’re easy to avoid, as long as you know what to watch for. Let’s break down the biggest seller slip-ups, and how an agent helps you steer clear of them. 1. Overpricing Your House It’s completely natural to want top dollar for your house, especially if you’ve put a lot of work into it. But in today’s shifting market, pricing it too high can backfire. Investopedia explains: “Setting a list price too high could mean your home struggles to attract buyers and stays on the market for longer.” And your house sitting on the market for a long time could lead to price cuts that raise red flags. That’s why pricing your house right from the start matters. A great real estate agent will look at what other homes nearby have sold for, the condition of your house, and what’s happening in your market right now. That helps them find a price that’s more likely to bring in buyers, and maybe even more than one offer. 2. Spending Money on the Wrong Upgrades The housing market has nearly a half million more sellers than buyers according to Redfin. That means you have more competition as a seller and may have to do a bit more to get your house ready to sell. But not all projects are going to be worth it. If you spend money on the wrong projects, it could really cut into your profit. A local real estate pro knows what buyers in your area are really looking for, and they can help you figure out which projects are worth it, and which ones to skip. Even better, they’ll know how to highlight any upgrades you make in your listing, so your house stands out online and gets more attention. 3. Refusing To Negotiate Now that inventory has grown, it’s important to stay flexible. Buyers have more options – and with it comes more negotiating power. U.S. News explains: “If you’ve received an offer for your house that isn’t quite what you’d hoped it would be, expect to negotiate . . . make sure the buyer also feels like he or she benefits . . . consider offering to cover some of the buyer’s closing costs or agree to a credit for a minor repair the inspector found.” That’s where your agent comes in. They’ll help you understand what buyers are asking for, what’s normal in today’s market, and how to find a win-win solution. Sometimes making a small compromise can keep the deal moving and help you move on to your next chapter faster. 4. Skipping Research When Hiring an Agent All of these mistakes are avoidable with the help of a skilled agent. So, you want to be sure you're working with the right partner. Still, according to the National Association of Realtors (NAR), 81% of sellers pick the first agent they talk to. Many homeowners may skip basic steps like reading reviews, checking sales history, and interviewing a few agents. But that’s a mistake. You want someone you know you can rely on – someone with a good track record. The right agent can help you price your house right, market it well, and sell it quickly (and maybe for more money). Bottom Line Selling a house doesn’t have to be stressful, especially if you have an experienced agent by your side. Connect with a local agent so you have an expert to help you avoid these common mistakes and make the most of your sale. What’s one thing you’d want expert advice on before putting your house on the market?

KCM CrewJuly 17, 2025

Why a Newly Built Home Might Be the Move Right Now

Are you looking for better home prices, or even a lower mortgage rate? You might find both in one place: a newly built home. While many buyers are overlooking new construction, it could be your best opportunity in today’s market. Here’s why. There are more brand-new homes available right now than there were even just a few months ago. According to the most recent data from the Census and the National Association of Realtors (NAR), roughly 1 in 5 homes for sale right now is new construction. So, if you’re not looking at newly built homes, you’re missing out on a big portion of what’s available. And with more new homes on the market, builders are motivated to sell their current inventory. As a result, many are taking steps to draw in buyers. Builders Are Cutting Prices According to Buddy Hughes, Chairman of the National Association of Home Builders (NAHB): “Almost 40% of home builders reduced sales prices in the last month . . .” That means builders are being realistic about today’s market and adjusting to what buyers can afford. It’s their way to keep their inventory moving. So, builders may be more willing to negotiate price than you’d expect – and that means your dollar may go further if you buy a newly built home. Lean on your agent to see what’s available and what incentives builders are offering in and around your area. Builders Are Offering Lower Mortgage Rates Here’s something most people don’t know. Right now, buyers of brand-new homes often get better mortgage rates than buyers of existing homes. That’s because many builders are also offering rate buydowns to make their homes more attractive and keep sales moving. Basically, they’re willing to chip in to lower your rate, so you’re more likely to buy one of their homes. Data from Realtor.com shows, in 2023 and 2024, buyers of newly built homes got a mortgage rate around half a percent lower compared to those who bought existing homes (see graph below): That kind of savings adds up and makes a big difference when you’re figuring out your monthly budget. So, if you haven’t found something you love yet, it’s time to add newly built homes to your search. You may find that what you’ve been looking for is already out there, it’s just in a new home community. Bottom Line More choices, the potential to negotiate on the price, and maybe even better mortgage rates make these options a bright spot in today’s housing market. If you haven’t considered a newly built home yet, what’s holding you back? Talk to a local real estate agent about what’s available and if a newly built home makes sense for you.

KCM CrewJuly 16, 2025

Mortgage Rates Are Stabilizing – How That Helps Today’s Buyers

Over the past few years, affordability has been the biggest challenge for homebuyers. Between rapidly rising home prices and higher mortgage rates, many have felt stuck between a rock and a hard place. But, something pretty encouraging is happening. While affordability is still tight, mortgage rates have shown signs of stabilizing in recent months. And that may finally make it a bit easier to plan your move. Mortgage Rates Have Stabilized – For Now Over the past year, mortgage rates have had their share of ups and downs, making it tough for buyers to know what to expect. But recently, rates have started to level out and have settled into a more narrow range (see graph below): As the graph shows, rates have stayed within that half-percentage-point since late last year. Yes, there’s been movement within that range, but wild swings and sudden ups and downs just haven’t been the story lately. And that’s a bigger deal than you may realize. As HousingWire explains: “Analysts, economists and mortgage professionals are coining this quarter’s activity as one of the most “calm” periods for mortgage rates in recent memory.” How This Helps Today’s Buyers Let’s be real. Unpredictability makes it tough to plan ahead. When rates are bouncing around and making big jumps week to week, it’s easy to be intimidated. But with rates staying in a pretty steady range over the past several months, you have a clearer picture of what your potential monthly payment could look like. That makes moving feel less uncertain – and more doable. So, stop waiting. And start planning. Even though rates may not be where you want them to be right now, they have been much less volatile for quite some time. Will This Stability Last? According to the experts, it looks like that stability might hang around for a bit. Rates may come down ever so slightly in the months ahead, but it’ll likely be a slow and mild change. As Danielle Hale, Chief Economist at Realtor.com, says: “I expect a generally downward trend for rates this year, but at a slow enough pace that it might not be noticeable in any given month.” So, if you’ve been holding out for the perfect mortgage rate, the best advice is to avoid trying to time the market. It may not look terribly different than the opportunity you already have in front of you. As Jeff Ostrowski, Housing Market Analyst at Bankrate, explains: “Trying to time mortgage rates is really difficult. There’s no guarantee that rates are going to be any more favorable in three months or six months.” And if we look at the latest expert forecasts that go out a bit further, even those tell much of the same story. Two out of the three projections say rates will still likely be in the mid-6% range by the end of 2026 (see graph below): This puts today’s buyers in a much better spot. As Sam Khater, Chief Economist at Freddie Mac, explains: “Mortgage rates have moved within a narrow range for the past few months . . . Rate stability, improving inventory and slower house price growth are an encouraging combination. . .” Just remember, mortgage rates are still going to react to changing economic conditions, inflation, and more – and that means they could shift again. But right now, you’ve got more predictability, and that means more opportunity, too. Bottom Line While affordability is still a challenge, the market may be offering a bit more stability – and that makes planning your next move a lot easier. Connect with an agent or a lender if you want to run the numbers and see what a monthly payment would look like in today's market. That way you can stop waiting and start planning.

KCM CrewJuly 15, 2025

The 5-Year Rule for Home Prices

Some Highlights If recent home price headlines have you feeling worried, here’s some perspective. Home values almost always go up in the long run. And the long-term gains offset any short-term dips. Basically, if you plan to live there for 5 or more years, you should be able to buffer yourself against any short-term declines. Connect with an agent to have a conversation about what’s happening with prices in your market.

KCM CrewJuly 14, 2025

The Advice First-Time Homebuyers Need To Hear

Buying your first home is a big milestone – and the right support is going to make it a whole lot easier. Because while this process might be brand new to you, it’s not new to your agent. They’ve helped plenty of first-time buyers through it. They know what works, what actually matters, and how you can move through the process with a lot less guesswork. Here are a few real-world tips based on that experience of helping other first-time buyers. Tip #1: Get Pre-Approved First Rocket Mortgage says this is one of the most common mistakes first-time buyers make. And it’s easy to see why. Looking at homes online is fun. But doing it before you know your numbers? That’s risky. You don’t want to fall in love with a house that’s way outside of your financial comfort zone. That's a fast track for getting frustrated. Instead, find your agent and talk to a lender early – before looking at any houses. With your lender’s help, you’ll be able to get pre-approved for your home loan. That’ll give you a better idea of what you’ll be able to borrow. And it helps you set a realistic budget. Then, your agent will be able to make you a customized list of homes, so you’re only seeing what’ll work for what you can spend. More clarity, less frustration. Tip #2: Set a Budget and Stick To It Remember, just because you can borrow up to a certain amount, chances are you won’t want to max that number out. It’s really important to avoid overextending your budget, especially in today’s market. Other housing expenses like home insurance, homeowners association (HOA) fees, and taxes are on the rise, and you need to factor those in. Bankrate offers this advice: “When you’re building a budget to narrow your search for properties, don’t just think about how much house you can afford, but how much in recurring costs you can handle once you’ve purchased your home.” So, lean on the pros for advice on expenses you may not be thinking of, so you can work them into your budget. Tip #3: Don't Skip the Inspection When you find the right home, it’s easy to get caught up in the excitement. But skipping the inspection just to make your offer look stronger is a gamble that could cost you. Instead, work with your agent to schedule a real inspection. They'll connect you with local pros, make sure it’s booked, and help you understand the results so you can negotiate repairs or ask for money off at closing, if needed. It’s better to invest in this time up front to avoid what could be thousands in surprise repairs later. Tip #4: Your First Home Doesn’t Have To Be Your Forever Home For a lot of buyers, this is where unnecessary pressure creeps in. But remember, you don't have to land your dream home right out of the gate. That’s why it’s called a starter home. It's a starting point, not your final destination. An agent will help you explore all your options, including ones you may not have thought about. For example, a well-kept condo, a townhouse in a great location, or a house with good bones can be a perfect first step into homeownership. The goal? Get in. Start building equity. Then, grow from there. Bottom Line Buying your first place is a big step, but it doesn’t have to feel like a step in the dark. Talk to an agent about where you’re starting from, what’s stressing you out (or holding you back), and what you actually need to know. What’s one question you wish you could ask an expert right now?

KCM CrewMay 23, 2025

Real Estate Is Voted the Best Long-Term Investment 12 Years in a Row

Some HighlightsIn a recent poll from Gallup, real estate has once again been voted the best long-term investment. And it’s claimed that top spot for 12 straight years now.That’s because homeownership is one of the top ways to build your wealth, even with home price growth moderating and ongoing economic uncertainty.If you’ve been trying to decide if it makes sense to buy a home today, connect with an agent to talk about the programs that can help you become a homeowner.

KCM CrewMay 22, 2025

Navigating Today’s Market

Wondering how to make sense of today’s housing market? You’re not alone. A lot of people are asking what’s ahead for inventory, prices, the economy, and more. You deserve answers — and that’s where your trusted local REMAX® agent comes in.

KCM CrewMay 22, 2025

Navigating Today’s Market

Wondering how to make sense of today’s housing market? You’re not alone. A lot of people are asking what’s ahead for inventory, prices, the economy, and more. You deserve answers — and that’s where your trusted local REMAX® agent comes in.

KCM CrewMay 22, 2025

Thinking about an Adjustable-Rate Mortgage? Read This First.

If you’ve been house hunting lately, you’ve probably felt the sting of today’s mortgage rates. And it’s because of those rates and rising home prices that many homebuyers are starting to explore other types of loans to make the numbers work. And one option that’s gaining popularity? Adjustable-rate mortgages (ARMs).If you remember the crash in 2008, this may bring up some concerns. But don’t worry. Today’s ARMs aren’t the same. Here’s why.Back then, some buyers were given loans they couldn’t afford after the rates adjusted. But now, lenders are more cautious, and they evaluate whether you could still afford the loan if your rate increases. So, don’t assume the return of ARMs means another crash. Right now, it just shows some buyers are looking for creative solutions when affordability is tough. You can see the recent trend in this data from the Mortgage Bankers Association (MBA). More people are opting for ARMs right now (see graph below):And while ARMs aren’t right for everyone, in certain situations they do have their benefits.How an Adjustable-Rate Mortgage WorksHere’s how Business Insider explains the main difference between a fixed-rate mortgage and an adjustable-rate mortgage:“With a fixed-rate mortgage, your interest rate remains the same for the entire time you have the loan. This keeps your monthly payment the same for years . . . adjustable-rate mortgages work differently. You'll start off with the same rate for a few years, but after that, your rate can change periodically. This means that if average rates have gone up, your mortgage payment will increase. If they've gone down, your payment will decrease.”Of course, things like taxes or homeowner’s insurance can still have an impact on a fixed-rate loan, but the baseline of your mortgage payment doesn’t change much. Adjustable-rate mortgages don't work the same way.Pros and Cons of an ARMHere’s a little more information on why some buyers are giving ARMs another look. They offer some pretty appealing upsides, like a lower initial rate. As Business Insider explains:"Because ARM rates are typically lower than fixed mortgage rates, they can help buyers find affordability when rates are high. With a lower ARM rate, you can get a smaller monthly payment or afford more house than you could with a fixed-rate loan."On the flip side, just remember, if you have an ARM, your rate will change over time. As Barron’s explains there’s the potential for higher costs later:"Adjustable-rate loans offer a lower initial rate, but recalculate after a period. That is a plus for borrowers if rates come down in the future, or if a borrower sells before the fixed period ends, but can lead to higher costs if they hold on to their home and rates go up."So, while the upfront savings can be helpful now, you'll want to think through what could happen if you're still in that home when your initial rate ends. Because while projections show rates are expected to ease a bit over the next year or two, no forecast is guaranteed. That’s why it’s essential to talk with your lender and financial advisor about all your options and whether an ARM aligns with your financial goals and your comfort with risk.Bottom LineFor the right buyer, ARMs can offer some big advantages. But they’re not one-size-fits-all. The key is understanding how they work, weighing the pros and cons, and thinking through if they’d be something that would work for you financially. And that’s why you need to talk to a trusted lender and financial advisor before you make any decisions.

KCM CrewMay 21, 2025

Weekend Projects To Boost the Value of Your Home

With the cost of just about everything going up these days — groceries, gas and utilities — you might be feeling like now just isn’t the time to take on any home projects. But remember, you don’t need to tackle a full-on renovation to make a big impact.And if you don’t know where to start or what’s worth doing, lean on your trusted REMAX® agent for advice before you get your projects started.Sometimes, small weekend projects still pack a big punch.Here are a few examples of smart, budget-friendly updates you can do in just a few days to not only make your home feel fresh and new, but add value too.One key place a lot of homeowners want to give some love? The kitchen. But instead of gutting the entire thing, think about smaller ways to give your space a facelift. You could go for new hardware, or maybe even add a backsplash. And if you want a refresh on your cabinets, consider bringing in a pro to paint or re-finish them. Just remember, the right tools are essential to a quality end product. Your REMAX agent can recommend local pros they trust, if you do need to hire someone to get the job done.Another easy win? Light fixtures. This is one of the most overlooked updates, and one of the most affordable. Switch out that builder-grade fixture in your dining room or hallway for something a bit more modern or with a spark of personality. That’s an easy win to instantly change the feel of a room. And it doesn’t have to cost more than a nice dinner out.Strategic bathroom refreshes are another great bang-for-your-buck project. You’ll be surprised the difference a new faucet, mirror or shower curtain can make. Add some fluffy towels and a plant or two, and suddenly you’ve got spa vibes on a shoestring budget.Wallpaper is also having a moment right now — and is pretty affordable. Whether it’s the traditional variety or the peel-and-stick kind, a pattern can add interest and depth to a room. Just don’t overdo it. Sometimes too much can be overpowering.And don’t underestimate the power of paint. A fresh, neutral coat on the walls can do wonders, especially if your current colors are looking a little tired or too specific. The right shade can brighten a room, make it feel bigger and create a clean, updated look.The key is playing it smart with your budget.None of these projects require a ton of time or a huge payout. You may not even need to hire a contractor. Focus on the little upgrades that make a big visual impact, because even in a time when everything feels more expensive, you still deserve to love your home.This weekend, grab a coffee, throw on some music and knock out one small project. Your home (and future self) will thank you.Bottom LineWhen everything feels more expensive, it’s smart to focus on small updates that make a big impact. You don’t need a huge budget to love where you live. You just need a few good ideas (and maybe a little encouragement).What’s on your weekend project list? If you’re ready to tackle those small-but-mighty upgrades, your trusted REMAX agent can help you prioritize what adds the most value. You don’t have to spend a fortune to make an impact.

KCM CrewMay 21, 2025

What Happens to the Housing Market When the Economy Slows Down?

There’s a lot of noise out there about what an economic slowdown could mean for the housing market. And if it leaves you feeling a little uneasy, you’re not alone. But here’s the thing.If you’re worried about what a potential recession could mean for the value of your home, or your homebuying power, your trusted REMAX® agent is here to help set the record straight. You don't have to fear the market when you understand what the data actually shows.A Recession Doesn’t Automatically Mean Home Prices Will FallIt’s easy to assume that if the economy slows down, home prices will fall. You might remember what happened in 2008. But the truth is: the housing crash of 2008 was an exception — not the rule.It hadn’t happened before. And it hasn’t happened since. But what made 2008 so different? It was a flood of oversupply and very different lending standards. And everyone remembers how painful that time was. Today, lending is much tighter, and even with inventory rising, the overall number of homes for sale remains well below normal levels. That keeps upward pressure on prices — and it keeps prices from falling significantly on a national level. And while prices are moderating in some markets today, a significant crash is unlikely. In fact, according to data from Cotality, in four of the last six recessions, home prices actually went up (see graph below):Don’t let fear of a recession make you assume prices are about to fall dramatically. And since prices usually follow the path they're already on, in most markets they should rise, not fall, in the days ahead. The rise just may slower, or even flat, but certainly not a crash. Mortgage Rates Typically Decline During Recessions Another important pattern you should know? Mortgage rates usually fall when the economy slows down.Looking at the data for the last six recessions, mortgage rates came down each time — helping boost buyer purchasing power, even during tougher economic periods (see graph below):If a recession does happen, history suggests you could see some relief in mortgage rates. However, it’s important to stay realistic. While a dip is possible, we’re unlikely to return to the ultra-low 3% rates seen in 2020 and 2021. Bottom LineEconomic shifts are part of the cycle, but they don’t have to derail your plans to buy or sell a home. Don’t let fear be the thing that keeps you from your next move.Instead, lean on facts to guide your decisions. And your trusted REMAX agent is the perfect person to make sure you have the information you need to feel confident moving forward.

KCM CrewMay 21, 2025

Why Now Could Be the Sweet Spot for Sellers

Over the past year, a lot of people put their moving plans on hold. Affordability weakened, and it was harder to find a home in budget, especially when inventory was so low. But things are shifting in a big way. Today, a rare balance is emerging — more choices when you buy, but still strong conditions when you sell.If you stepped back from your plans last year, your trusted REMAX® agent wants you to know: the door is opening again. The only question is, will you walk through it before it closes?Inventory Is Up — And That Changes the GameLast year, the lack of options made it hard to make a move. There just wasn’t enough out there. And when something did pop up, it disappeared fast (or it wasn’t at your price point). And why sell your current home if it's not clear if you can find another one you’d love?This is why 70% of buyers decided to abandon their search last year.But today, inventory is on the rise. Builders are building more homes. Sellers are listing their homes and re-entering the market. So, now you have choices that help you go from feeling stuck to maybe feeling ready to move again.With more listings available and slightly more breathing room, many who paused before are starting to search again. And savvy sellers who act now can still capitalize on that pent-up demand.The Real Sweet SpotYou might be wondering: if more homes are for sale now, does that mean it’ll be harder to sell your current home? Not quite.Data from Realtor.com shows inventory is up 30.6% compared to this time last year. But overall inventory levels are still about 16% lower than what’s considered a normal market (see graph below):Basically, you’re not stuck anymore. But you’re not competing with a flood of listings either. That’s a seller sweet spot.So, you have more homes to choose from when you move, but there still aren’t too many for sale. That means your current home shouldn't have any trouble attracting a lot of interest, especially if you lean on your REMAX agent to make sure it’s well-priced and well-prepped.But this sweet spot may not last. Inventory has been climbing for over a year and a half now. And Lance Lambert, Co-Founder of ResiClub, says even more growth is coming:“The fact that inventory is rising year-over-year . . . strongly suggests that national active housing inventory for sale is likely to end the year higher.”Basically, if you wait too long, your home will be competing with your neighbors — and that could impact your ability to sell quickly and for top dollar. This is exactly the type of local insight only your REMAX agent can give you.Bottom LineThis rare balance won’t last forever. The window is open, but it’s closing little by little as more listings hit the market.Reach out to your trusted REMAX agent. That way, you can decide if this sweet spot in your area is the opportunity you’ve been waiting for.

KCM CrewMay 21, 2025

What Waiting To Buy Could Cost You

A lot of people want to buy a home, but they feel stuck in “wait and see” mode. Maybe you’re one of them. You’re holding your breath, hoping prices will fall or rates will come back down. But while you’re waiting, the market is moving — without you.The reality is, trying to time the market rarely works. The longer you sit on the sidelines, the harder it may get to jump in later. That’s why your trusted REMAX® agent is here to share a simple but powerful truth: Time in the Market Beats Timing the Market.Prices May Continue To Go Up While You WaitHomeownership is about the long game — and home prices typically rise over time. Even though the days of double-digit price jumps are behind us, steady growth is expected for the foreseeable future.In fact, each quarter, more than 100 industry professionals weigh in through the Home Price Expectations Survey (HPES) from Fannie Mae. And based on that data, home prices will rise nationally through at least 2029. Not runaway growth — just healthy, sustainable appreciation around 3-4% per year (see graph below):And that's exactly what makes the next few years such a critical window for buyers. It means prices will continue to rise nationally. Sure, there will be some areas where price trends vary. Let’s say a local market has a surplus of homes for sale — that could result in prices easing in that market. But even in markets experiencing more modest price growth or slight short-term declines, the long game of homeownership usually wins over time. In most areas, prices will only inch higher in the years ahead. And that could cost you more if you wait. How Much Waiting Could Cost YouLet’s put this into perspective, because it can add up quickly. In this example, let's say you’re looking for a $400,000 home. Based on the HPES forecasts, that same home could be worth nearly $80,000 more just five years from now (see graph below):That’s $80K you could be gaining in home value — or losing out on if you keep sitting on the sidelines. Next year’s home prices will likely be higher than this year’s. And that’ll happen each year for at least the next five years. That’s the time in the market piece. Once you buy, the value of your home will likely climb over time, giving you more equity and wealth.So, here’s what to keep in mind. Even if mortgage rates come down slightly (and that’s a big “if”), you’re still looking at a higher purchase price a few years from now. Real estate rewards those who act, not those who wait for the stars to align.So, When’s the Right Time To Move?Only you can answer that. If you need to move and you can make the numbers work right now, it may be worth taking the plunge. Waiting could end up costing you far more than jumping in now. And if you have to adjust your price point or look into assistance programs to get your foot in the door, chances are that’s worth doing.Your trusted REMAX agent and a great lender will help you understand your options and guide you through smart next steps. Because the reality is, there may never be a “perfect” market — but there is a perfect time for you based on your goals.The key is making a move that sets you up for success, instead of missing out while you wait for a future that may not unfold the way you hope.Bottom LineWhen it comes to buying a home, the saying still holds true: yesterday was the best time to buy, but the next best time is today.Are you curious about what home prices are doing in our local market? Reach out to your trusted REMAX agent for the latest data. Let’s take a look together, talk about what’s possible, and see if moving now makes sense for you.

KCM CrewMay 21, 2025

More Homes for Sale Isn’t a Warning Sign – It's Your Buying Opportunity

Maybe you’ve heard the number of homes for sale has reached a recent high. And it might make you question if this is the start of another housing market crash.But the reality is, the data proves that’s just not the case. In most areas, more inventory isn’t bad news. It’s actually a sign of the market returning to a more stable, healthy place.What’s Going on With Inventory?Based on the latest data from Realtor.com, inventory just hit its highest point since 2020, shown with the white line in the graph below.But what you need to realize is, at the same time, inventory levels still haven’t returned to pre-pandemic norms (shown in gray):That means there are more homes for sale now than there have been in quite some time.And while it’s true inventory is up significantly compared to where it was over the last few years, the number of homes on the market is still well below typical levels. And that’s important context.Why This Isn’t the Problem A Lot of People Think It IsSome people hear inventory’s rising and immediately think about 2008. Because back then, inventory spiked just before the market crashed. But today’s situation is very different.Here’s the key reason why. We don’t have a surplus of homes; we have a deficit to climb out of. What we’re dealing with is a long-term housing shortage – and it’s a big one.The red bars in the graph below show all the years where housing starts (new builds) didn’t keep up with household formation, going all the way back to 2012. The deeper the bars in the graph, the more the housing deficit grew (see graph below):And one of the reasons this housing shortage kept growing is because new home construction just didn’t keep up with the number of people who need to buy homes. In fact, the U.S. is actually short millions of homes at this point, and it will take years to overcome that gap. Realtor.com says:“At a 2024 rate of construction relative to household formations and pent-up demand, it would take 7.5 years to close the housing gap.”That means, in most areas, there isn’t a risk of having too many houses on the market right now. It’s quite the opposite – a vast majority of markets actually need more homes.Which is why, even though inventory is rising, it’s not a problem on a national scale. It’s just helping to fill a gap that’s been growing for years.Bottom LineDon’t let the headlines scare you. Rising inventory isn’t a sign of a crash. It’s a step toward a more normal, stable housing market.

KCM CrewMay 20, 2025

What Buyers Need To Know About Homeowners Association Fees

When buying a home, you’re probably thinking about mortgage rates, home prices, your down payment, and maybe even your closing costs. But you may not be thinking about homeowners association (HOA) fees. While you won’t necessarily have these, you should know it’s a possibility, depending on where you decide to live.A homeowners association is basically an organization that oversees a housing community (including shared spaces) and sets and enforces rules for things like upkeep. Some buyers love the perks that come with an HOA, others may see the fees as an extra expense. The key is knowing what they cover and whether the benefits outweigh the costs for you.The Benefits of Having an HOAThink about this. If you’ve fallen in love with a home because of how beautiful the community is – maybe it’s the landscaping, the well-maintained streets, or the overall curb appeal – there’s a good chance the HOA is one of the reasons why it looks so good. Here are some of the biggest perks:Neighborhood Maintenance: Many HOAs cover landscaping, snow removal, and upkeep of common areas. This helps maintain the neighborhood’s overall appearance.Amenities: Depending on the neighborhood, an HOA could also include access to perks like a pool, clubhouse, fitness center, or even private security. In these cases, while you have to pay an HOA fee, you’re also saving money in some ways because you don’t need to have separate gym or pool memberships anymore.Property Value Protection: Since HOAs enforce community standards, they prevent homes from falling into disrepair. So, you don’t have to worry about nearby eyesores hurting your property value.Less Personal Upkeep: In some communities, HOAs even take care of exterior maintenance, roof repairs, or other shared responsibilities, reducing the work for homeowners.HOA Fees: More Common, Especially in Newer NeighborhoodsDoes every house have HOA fees? No, not all homes have them. But they are common, especially in newer communities. In fact, over 80% of newly built single-family homes are now part of an HOA, according to the Wall Street Journal (see graph below):But it’s not just new builds that have homeowners associations. Homes that were previously lived in may have an HOA fee too. According to Axios roughly 4 out of every 10 homes had an HOA in 2024.HOA Fees and Your Home SearchAsk your agent about which homes do and do not have HOA fees as part of your search – and how much the fees are. Some neighborhoods have quarterly dues, some have monthly, some don’t have any at all. To give you some sort of baseline though, the median HOA fee rose last year to $125 per month, based on a report from Realtor.com.But remember, the costs vary and sometimes these fees give you access to great perks. As Danielle Hale, Chief Economist at Realtor.com, explains:"When considering a home with an HOA, buyers should work to understand what benefits it provides like maintenance, security, or communal amenities, and how the HOA fees factor into their overall budget."Bottom LineBefore buying a home in an HOA community, it’s a good idea to review the rules and fees so you know exactly what’s included, how that fits into your overall budget, and what restrictions may apply.Would you rather pay an HOA fee for added perks, or skip it and have full control over your property? Connect with an agent to talk about what’s best for you.

KCM CrewMay 19, 2025

You Could Use Some of Your Equity To Give Your Children the Gift of Home

If you’re a homeowner, chances are you’ve built up a lot of wealth – just by living in your house and watching its value grow over time. And that equity? It’s something that could help change your child’s life.Since affordability is still a challenge, a lot of first-time buyers are struggling to buy a home in today’s market. Even if they have a stable job and a solid plan, buying can still feel out of reach. But that’s where your equity could make all the difference.To give you an idea, the average homeowner with a mortgage has $311,000 worth of equity, according to Cotality (formerly CoreLogic). That’s significant. And some parents are using a portion of their equity to help their children become homeowners, too.According to Bank of America, 49% of buyers between 18 and 26 got money from their parents to use toward their down payment (see chart below): Even though the data doesn’t specify how many parents used their equity, the wealth they’ve built through homeownership may have helped make it possible – especially given how much equity the average homeowner has today.While what’s right for each person’s specific situation will vary on a case-by-case basis, that’s a powerful legacy to pass on. It helps those younger people buy a home, build equity of their own, and begin the next chapter of their life with a little less financial stress and a lot more stability. And for those parents? It’s a way to turn what they've built into something deeply meaningful.This isn’t just about money. For many homeowners, it’s about being the reason their child gets to say, “we got the house.” And giving them the kind of head start they might’ve only dreamed of at their age. And here’s the part that really sticks. Compare the Market says: “Of those who did receive monetary aid from parents and grandparents to buy a house, 45% of Americans said they would not have been able to purchase a house without financial support from parents and grandparents.”Bottom LineYour equity could be the thing that makes homeownership possible for your children when they might not be able to do it on their own. So, here’s the question.If helping your kids buy a home was more feasible than you thought, would you want to explore that option?If you want to learn more or find out the best way to make it happen, talk to your lender and a financial advisor you trust.

KCM CrewMay 16, 2025

Housing Market Forecasts for the Second Half of 2025

Some HighlightsAre you wondering what to expect if you buy or sell a home in the second half of the year? Here’s what the expert forecasts tell you.Mortgage rates are expected to come down slightly. There will be more homes available for sale. And as inventory rises, home price growth will moderate.Want to know what this could mean for your plans? Connect with a local agent and talk through it together.

KCM CrewMay 15, 2025

Why Would I Move with a 3% Mortgage Rate?

If you have a 3% mortgage rate, you’re probably pretty hesitant to let that go. And even if you’ve toyed with the idea of moving, this nagging thought may be holding you back: “why would I give that up?”But when you ask that question, you may be putting your needs on the back burner without realizing it. Most people don’t move because of their mortgage rate. They move because they want or need to. So, let’s flip the script and ask this instead: What are the chances you’ll still be in your current house 5 years from now?Think about your life for a moment. Picture what the next few years will hold. Are you planning on growing your family? Do you have adult children about to move out? Is retirement on the horizon? Are you already bursting at the seams?If nothing’s going to change, and you love where you are, staying put might make perfect sense. But if there’s even a slight chance a move is coming, even if it’s not immediate, it’s worth thinking about your timeline.Because even a year or two can make a big difference in what your next home might cost you.What the Experts Say About Home Prices over the Next 5 YearsEach quarter, Fannie Mae asks more than 100 housing market experts to weigh in on where they project home prices are headed. And the consensus is clear. Home prices are expected to rise through at least 2029 (see graph below):While those projections aren’t calling for big increases each year, it's still an increase. And sure, some markets may see flatter prices or slower growth, or even slight dips in the short term. But look further out. In the long run, prices almost always rise. And over the next 5 years, the anticipated increase – however slight – will add up fast.Here’s an example. Let's say you'll be looking to buy a roughly $400,000 house when you move. If you wait and move 5 years from now, based on these expert projections, it could cost nearly $80,000 more than it would now (see graph below):That means the longer you wait, the more your future home will cost you. If you know a move is likely in your future, it may make sense to really think about your timeline. You certainly don't have to move now. But financially, it may still be worth having a conversation about your options before prices inch higher. Because while rates are expected to come down, it’s not by much. And if you’re holding out in hopes we’ll see the return of 3% rates, experts agree it’s just not in the cards (see graph below): So, the question really isn’t: “why would I move?” It’s: “when should I?” – because when you see the real numbers, waiting may not be the savings strategy you thought it was. And that’s the best conversation you can have with your trusted agent right now.Bottom LineKeeping that low mortgage rate is smart – until it starts holding you back.If a move is likely on the horizon for you, even if it’s a few years down the line, it’s worth thinking through the numbers now, so you can plan ahead.What other price point do you want to see these numbers for? Connect with a local agent to have a conversation, so you can see how the math adds up. That way, you can make an informed decision about your timeline.

KCM CrewMay 14, 2025

Don’t Let Student Loans Hold You Back from Homeownership

Did you know? According to a recent study, 72% of people with student loans think their debt will delay their ability to buy a home. Maybe you’re one of them and you're wondering:Do you have to wait until you’ve paid off those loans before you can buy your first home?Or is it possible you could still qualify for a home loan even with that debt?Having questions like these is normal, especially when you’re thinking about making such a big purchase. But you should know, you may be putting your homeownership goals on the backburner unnecessarily.Can You Qualify for a Home Loan if You Have Student Loans?In the simplest sense, what you want to know is can you still buy your first home if you have student debt. Here’s what Yahoo Finance says:" . . . student loans don’t have to get in your way when it comes to becoming a homeowner. With the right approach and an understanding of how debt impacts your home-buying options, buying a house when you have student loans is possible."And the data backs this up. An annual report from the National Association of Realtors (NAR), shows that 32% of first-time buyers had student loan debt (see graph below): While everyone’s situation is unique, your goal may be more doable than you realize. Plenty of people with student loans have been able to qualify for and buy a home. Let that reassure you that it is still possible, even as a first-time buyer. And just in case it’s helpful to know, the median student loan debt was $30,000. As an article from Chase says:“It’s important to note that student loans usually don’t affect your ability to qualify for a mortgage any differently than other types of debt you have on your credit report, such as credit card debt and auto loans.”If your income is steady and your overall finances are solid, homeownership can still be within reach. So, having student loans doesn’t necessarily mean you have to wait to buy a home.Bottom LineHaving student loans doesn’t mean buying a home is off the table. Before you count yourself out, talk to a lender to get a clearer picture of what you can afford and how close you are to taking the first step toward homeownership.

KCM CrewMay 13, 2025

Why Buyers Are More Likely To Get Concessions Right Now

Especially in areas where inventory is rising, both homebuilders and sellers are sweetening the deal for buyers with things like paid closing costs, mortgage rate buy-downs, and more. In the industry, it’s called a concession or an incentive.What Are Concessions and Incentives?When a seller or builder gives you something extra to help with your purchase, that’s called either a concession or an incentive. A concession is something a seller gives up or agrees to in order to reach a compromise and close a deal. An incentive, on the other hand, is a benefit a builder or seller advertises and offers up front to attract and encourage buyers.Today, some of the most common ones are:Help with closing costsMortgage rate buy-downs (to temporarily lower your rate)Discounts or price reductionsUpgrades or appliancesHome warrantiesMinor repairsFor buyers, getting any of these things thrown in can be a big deal – especially if you’re working with a tight budget. As the National Association of Realtors (NAR) says: “. . . they can help reduce the upfront costs associated with purchasing a home.”Builders Are Making It Easier To BuyIt’s not just one builder willing to toss in a few extras. A lot of builders are using this tactic lately. As Zonda says:“Incentives continued to be popular in March, offered by builders on 56% of to-be-built homes and 74% of quick move-in (QMI) homes, which can likely be occupied within 90 days.”That’s because they don’t want to sit on inventory for too long. They want it to sell. And according to the National Association of Home Builders (NAHB), one of the strategies many builders are using to keep that inventory moving (and not just sitting) is a price adjustment (see graph below): Around 30% of builders lowered prices in each of the first four months of the year. While that also means most builders aren’t lowering prices, it also shows some are willing to negotiate with buyers to get a deal done.This isn’t a sign of trouble in the market, it’s an opportunity for you. The fact that the majority of builders offer incentives and roughly 3 in 10 are lowering prices means if you're looking at a newly built home, your builder will probably try to make it easier for you to close the deal. Existing Home Sellers Are Offering More, TooMore existing homes (one that someone has lived in before) have been hitting the market, too – which means sellers are facing more competition. That’s why over 44% of sellers of existing homes gave concessions to buyers in March (see graph below):And, if you look back at pre-pandemic years on this graph, you’ll see 44% is pretty much returning to normal. After years of sellers having all the power, the market is balancing again, which can work in your favor as a buyer.But remember, concessions don’t always mean a big discount. While more sellers are compromising on price, that’s not always the lever they pull. Sometimes it’s as simple as the seller paying for repairs, leaving appliances behind for you, or helping with your closing costs.And considering that home values have risen by more than 57% over the course of the past 5 years, small concessions are a great way for sellers to make a house more attractive to buyers while still making a profit.Bottom LineWhether you’re looking at a newly built home or something a little older, there’s a good chance you can benefit from concessions or incentives.If a seller or builder offered you something extra, what would make the biggest difference to help you move forward?Connect with an agent to talk about it and see if it’s realistic based on inventory and competition in your local market.

KCM CrewMay 12, 2025

Home Projects That Boost Value

Whether you’re planning to move soon or not, it’s smart to be strategic about which home projects you take on. Your time, energy, and money matter – and not all upgrades offer the payoff you might expect. As U.S. News Real Estate explains:". . . not every home renovation project will increase the resale value of a home. Before you invest in a swimming pool or new addition, you should consider whether the project will pay itself off by getting prospective buyers in the door when it’s time to sell."That’s why, before you pick up a power tool or call a contractor, your first step should be talking to a local agent.Planning Ahead Pays OffIf you plan to move relatively soon, you’ll want to get a jump start on your to-do list. And even if moving isn’t on your radar yet, life can change quickly – and a new job, a growing family, or shifting priorities can fast-track your plans. You don’t want to be scrambling to fix up your home if your timeline changes.Smart updates now = fewer headaches later.By planning ahead, you can spread out the work over time, which is easier on your wallet and your stress levels. Plus, you’ll get to enjoy the upgrades while you’re still living there and have the peace of mind your house is ready to impress when it's time to list.What Buyers Want (and What’s Actually Worth Doing)If you’re not sure which projects are worth your time and money – here's some information that can help. A study from the National Association of Realtors (NAR) shows which upgrades typically offer the best return on your investment (ROI) (see graph below):If an update you're already thinking about overlaps with those high-ROI upgrades, great. Odds are it'll improve your quality of life now and your home’s value later.But don’t take this list as law. This is based on national data and is the sort of thing that's going to vary based on what’s most sought-after where you live. That’s where your agent comes in. As an article from Ramsey Solutions says:“The best way to gauge what you can expect in terms of resale value on home improvements—especially if you’re planning to sell soon—is to talk to a real estate agent who is an expert in your market. They’re sure to know the local trends, and they can show you how other homes with the features you want to add are selling. That way, you can make an educated decision before you start ordering lumber and knocking down walls.”You'll just want to make sure you don't overdo it. Too many high-end updates can make your home the priciest in the neighborhood. That might sound great, but it can actually turn buyers away if it's outside their expected price range for the area. The right agent will help you make smart updates that buyers will love, without going overboard. Whether the project is big or small, it pays to be strategic. And an agent is a key piece of that strategy.Bottom LineIt doesn’t matter whether you plan to move soon or not, it can still pay off to make strategic updates that’ll help you love your home now and stand out later.What’s one upgrade you’ve been thinking about – and wondering if it’s worth it? Connect with a local agent to make sure it’ll pay off when the time comes.

KCM CrewMay 9, 2025

Why You’ll Want a Home Inspection

Some HighlightsOnce your offer is accepted, an inspector will assess the condition of the house, including things like the roof, foundation, plumbing, and more.That information is incredibly important and paves the way for you to re-negotiate with the seller, as needed. So, you don’t want to skip this step.An inspection is your chance to avoid costly headaches and get peace of mind. Connect with an agent to talk about other ways to make your offer stand out.

KCM CrewMay 9, 2025

Why You’ll Want a Home Inspection

Some HighlightsOnce your offer is accepted, an inspector will assess the condition of the house, including things like the roof, foundation, plumbing, and more.That information is incredibly important and paves the way for you to re-negotiate with the seller, as needed. So, you don’t want to skip this step.An inspection is your chance to avoid costly headaches and get peace of mind. Connect with an agent to talk about other ways to make your offer stand out.

KCM CrewMay 8, 2025

Housing Market Forecasts for the Second Half of the Year

From rising home prices to mortgage rate swings, the housing market has left a lot of people wondering what’s next – and whether now is really the right time to move. There is one place you can turn to for answers you want the most. And that’s the experts.Leading housing experts are starting to release their projections for the rest of the year. These insights will give you clarity – and a little more optimism than you might expect. Business Insider sums up the forecasts (and why they’re good news for you):“As mortgage rates go down this year, affordability may improve slightly for homebuyers. Inventory is also expected to grow, which should help moderate price growth and make finding a home easier.”Let’s break it down.1. Mortgage Rates Should Come Down (Slightly)While a major drop isn’t on the table, forecasters are calling for a modest decline in rates in the months ahead as the economic outlook becomes more certain. Based on the information we have right now, here’s a look at where they say rates should be by year-end (see graph below):Even this slight decrease is a welcome change. A seemingly small decline can still help bring down your future mortgage payment and give you a bit more breathing room in your budget.Just remember, everything from inflation to employment and broader economic shifts will have an impact on where rates go from here. So, don’t try to time the market. And do expect some volatility along the way.2. Inventory Will Continue To GrowInventory has already improved a lot this year. A big portion of the growth the market has already seen is because homeowners are getting tired of sitting on the sidelines. They’ve tried the wait and see approach with rates, and it hasn’t really paid off. And at a certain point, you need to move no matter what the market is doing. This is one reason more homes have been listed lately. And experts say that should continue. As Lance Lambert, Co-founder of ResiClub, says:“The fact that inventory is rising year-over-year . . . strongly suggests that national active housing inventory for sale is likely to end the year higher.”If rate forecasts pan out as the experts say, that could be enough to tip some more sellers off the fence and back into the market – giving you even more options for your move.3. Home Prices Are ModeratingAs more homes hit the market, there will also be less upward pressure on home prices. Expert forecasts are still calling for growth, but the pace of that growth is slowing down as inventory climbs. The average of all 7 forecasts shows prices will rise about 2% this year (see graph below):That means you could finally get a little bit of relief from rapidly rising home prices. When you combine the forecast for healthier price growth with projections for slightly lower mortgage rates, that could mean more buying power in the months ahead.Keep in mind, though, the housing market is hyper-local. So, this is going to vary by area. Some markets will see prices climbing higher. And some may even see prices dip a little if inventory is up significantly in that location. So, lean on a local agent for insights into what’s happening in your area.Bottom LineSo, if you want or need to move this year, know that the experts say things should start looking up. And an agent can help you take advantage of any market shifts that work in your favor.

KCM CrewMay 7, 2025

Why Some Homes Sell Faster Than Others

As you think ahead to your own move, you may have noticed some houses sell within days, while others linger. But why is that? As Redfin says:“. . . today’s housing market has been topsy-turvy since the pandemic. Low inventory (though rising) and high prices have created a strange mix: Some homes are flying off the market, while others sit for weeks.”That may leave you wondering what you should expect when you sell. Let’s break it down and give you some actionable tips on how to make sure your house is one that sells quickly.Homes Are Still Selling Faster Than Pre-PandemicThe first thing you should know is that, in most markets, things have slowed down a little bit. While you may remember how quickly homes sold a few years ago, that’s not what you should expect today.Now that inventory has grown, according to Realtor.com, homes are taking a bit longer to sell in today’s market (see graph below):But before you get hung up on the ten-day difference compared to the past few years, Realtor.com will help put this into perspective:“In April, the typical home spent 50 days on the market . . . This marks the 13th straight month of homes taking longer to sell on a year-over-year basis. Still, homes are moving more quickly than they did before the pandemic . . .”By this comparison, if your house does take a little more time to sell this year, it’s not really a concern. It’s actually still faster than the norm. Plus, it gives you a bit more time to find your next home, which is welcome relief when you’re trying to move, too.Just remember, some homes sell in less time than this. Some take even longer. So, what’s the real difference? Why do some homes attract eager buyers almost instantly, while others sit and struggle?It comes down to having the right agent and strategy. Here are a few tips you need to know. 1. Price It RightOne of the biggest reasons homes sit on the market is overpricing. Many sellers want to shoot for a higher price, thinking they can lower it later – but that backfires by turning buyers away.What to do: Work with an agent to make sure your house is priced right. They’ll analyze recent comparable sales (what other homes have sold for recently in your area), so you know you're pricing appropriately for today’s market and what buyers are willing to pay. As Chen Zhao, Economic Research Lead at Redfin, explains:“My advice to sellers is to price your home fairly for the shifting market; you may need to price lower than your initial instinct to sell quickly and avoid giving concessions."2. Focus on the First ImpressionA messy yard or a house that needs paint? It’ll turn buyers off. Since buyers decide within seconds whether they like a home, a good first impression is key.What to do: Outside, clean up your front yard, tidy up your landscaping, power wash walkways, and add fresh mulch. Inside, declutter and depersonalize. And consider minor touch-ups like repainting in a neutral tone. Your agent will offer advice on what to tackle.3. Strong Marketing & High-Quality Listing PhotosIf your listing or your photos don’t look professional, you could have trouble drawing in buyers who think you’re trying to cut corners.What to Do: Instead, lean on your agent’s skills, expertise, and resources. They’ll help you make sure you have:High-resolution listing photos showing the home in its best light.Detailed descriptions that highlight differentiating features of your house.Your listing on multiple platforms, including major real estate sites and social media.4. The Location of the HomeYou may have heard the phrase “location, location, location” when it comes to real estate. And there’s definitely some truth to that. Homes in highly sought-after neighborhoods tend to sell faster.What to do: While you can’t change where your house is located, your agent can highlight the best features of your neighborhood or community in your listing. By showcasing what’s great about your area, they can help draw buyers into what life would look like in your house.Bottom LineHomes that sell quickly don’t necessarily have better features – they have better agents and a better strategy.Are you thinking about selling? Connect with an agent to talk about how to get your home sold quickly and for top dollar.

KCM CrewMay 6, 2025

Stocks May Be Volatile, but Home Values Aren’t

With all the uncertainty in the economy, the stock market has been bouncing around more than usual. And if you’ve been watching your 401(k) or investments lately, chances are you’ve felt that pit in your stomach. One day it’s up. The next day, it’s not. And that may make you feel a little worried about your finances.But here’s the thing you need to remember if you’re a homeowner. According to Investopedia:“Traditionally, stocks have been far more volatile than real estate. That's not to say that real estate prices aren't ever volatile—the years around the 2007 to 2008 financial crisis are just one memorable example—but stocks are more prone to large value swings.”While your stocks or 401(k) might see a lot of highs and lows, home values are much less volatile. A Drop in the Stock Market Doesn’t Mean a Crash in Home PricesTake a look at the graph below. It shows what happened to home prices (the blue bars) during past stock market swings (the orange bars):Even when the stock market falls more substantially, home prices don’t always come down with it. Big home price drops like 2008 are the exception, not the rule. But everyone remembers that one. That stock market crash was caused by loose lending practices, subprime mortgages, and an oversupply of homes – a scenario that doesn’t exist today. That’s what made it so different.In many cases before and after that time, home values actually went up while the stock market went down, showing that real estate is generally much more stable. This graph shows how stock prices go up and down (the orange line), sometimes by more than 30% in a year. In contrast, home prices (the blue line) change more slowly (see graph below):Basically, stock values jump around a lot more than home prices do. You can be way up one day and way down the next. Real estate, on the other hand, isn’t usually something that experiences such dramatic swings.That’s why real estate can feel more stable and less risky than the stock market.So, if you’re worried after the recent ups and downs in your stock portfolio, rest assured, your home isn’t likely to experience the same volatility.And that’s why homeownership is generally viewed as a preferred long-term investment. Even if things feel uncertain right now, homeowners win in the long run.Bottom LineA lot of people are feeling nervous about their finances right now. But there’s one reason for you to feel more secure – your investment in something that’s stood the test of time: real estate.

KCM CrewMay 5, 2025

The 20% Down Payment Myth, Debunked

Saving up to buy a home can feel a little intimidating, especially right now. And for many first-time buyers, the idea that you have to put 20% down can feel like a major roadblock.But that’s actually a common misconception. Here’s the truth.Do You Really Have To Put 20% Down When You Buy a Home?Unless your specific loan type or lender requires it, odds are you won’t have to put 20% down. There are loan options out there designed to help first-time buyers like you get in the door with a much smaller down payment.For example, FHA loans offer down payments as low as 3.5%, while VA and USDA loans have no down payment requirements for qualified applicants, like Veterans. So, while putting down more money does have its benefits, it’s not essential. As The Mortgage Reports says:“. . . many homebuyers are able to secure a home with as little as 3% or even no down payment at all . . . the 20 percent down rule is really a myth.” According to the National Association of Realtors (NAR), the median down payment is a lot lower for first-time homebuyers at just 9% (see chart below):The takeaway? You may not need to save as much as you originally thought. And the best part is, there are also a lot of programs out there designed to give your down payment savings a boost. And chances are, you’re not even aware they’re an option.Why You Should Look into Down Payment Assistance ProgramsBelieve it or not, almost 80% of first-time homebuyers qualify for down payment assistance (DPA), but only 13% actually use it (see chart below):That’s a lot of missed opportunity. These programs aren’t small-scale help, either. Some offer thousands of dollars that can go directly toward your down payment. As Rob Chrane, Founder and CEO of Down Payment Resource, shares:“Our data shows the average DPA benefit is roughly $17,000. That can be a nice jump-start for saving for a down payment and other costs of homeownership.”Imagine how much further your homebuying savings would go if you were able to qualify for $17,000 worth of help. In some cases, you may even be able to stack multiple programs at once, giving what you’ve saved an even bigger lift. These are the type of benefits you don't want to leave on the table. Bottom LineSaving up for your first home can feel like a lot, especially if you’re still thinking you have to put 20% down. The truth is that’s a common myth. Many loan options require much less, and there are even programs out there designed to boost your savings too.To learn more about what’s available and if you’d qualify for any down payment assistance programs, talk to a trusted lender.

KCM CrewMay 2, 2025

Your Home Equity Could Make Moving Possible

Some HighlightsThanks to recent home price appreciation, homeowners have near record amounts of equity – and you may too. On average, homeowners have $311K worth of equity.Once you sell, you can use it to fund your down payment on your next home or maybe even to buy a smaller house in cash. If you want to find out how much equity you have, connect with an agent. Because it may make a move a lot more feasible than you'd think.

KCM CrewMay 1, 2025

What an Economic Slowdown Could Mean for the Housing Market

Talk about the economy is all over the news, and the odds of a recession are rising this year. That’s leaving a lot of people wondering what it means for the value of their home – and their buying power.Let’s take a look at some historical data to show what’s happened in the housing market during each recession, going all the way back to the 1980s. The facts may surprise you.A Recession Doesn’t Mean Home Prices Will FallMany people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time the market saw such a steep drop in prices. And it hasn’t happened since, mainly because inventory is still so low overall. Even in markets where the number of homes for sale has started to rise this year, inventory is still far below the oversupply of homes that led up to the housing crash.In fact, according to data from Cotality (formerly CoreLogic), in four of the last six recessions, home prices actually went up (see graph below)So, don’t assume a recession will lead to a significant drop in home values. The data simply doesn’t support that idea. Instead, home prices usually follow whatever trajectory they’re already on. And right now, nationally, home prices are still rising, just at a more normal pace.Mortgage Rates Typically Decline During RecessionsWhile home prices tend to stay on their current path, mortgage rates usually drop during economic slowdowns. Again, looking at data from the last six recessions, mortgage rates fell each time (see graph below):So, a recession means rates could decline. And while that would help with your buying power, don’t expect the return of a 3% rate.Bottom LineThe answer to the recession question is still unknown, but the odds have gone up. However, that doesn’t mean you have to worry about what it means for the housing market – or the value of your home. Historical data tells us what usually happens.If you’re wondering how the current economy is impacting your local market, connect with an agent.

KCM CrewApril 30, 2025

A Tale of Two Housing Markets

For a long time, the housing market was all sunshine for sellers. Homes were flying off the shelves, and buyers had to compete like crazy. But lately, things are starting to shift. Some areas are still super competitive for buyers, while others are seeing more homes sit on the market, giving buyers a bit more breathing room.In other words, it’s a tale of two markets, and knowing which one you’re in makes a huge difference when you move.What Is a Buyer’s Market vs. a Seller’s Market?In a buyer’s market, there are a lot of homes for sale, and not as many people buying. With fewer buyers competing for these homes, that means they generally sit on the market longer, they might not sell for as much as they would in a seller’s market, and buyers have more room to negotiate.On the flip side, in a seller’s market, there aren’t enough homes for sale for the number of buyers who are trying to purchase them. Homes sell faster, sellers often get multiple offers, and prices shoot higher because buyers are willing to pay more to win the home.The Market Is Starting To Balance OutFor years, almost every market in the country was a strong seller’s market. That made it tough for buyers – especially first-timers. But now, things are shifting. According to Zillow, the national housing market is balancing out (see graph below):The index used in this graph measures whether the national housing market is more of a seller’s market, buyer’s market, or neutral market – basically, whether it favors buyers, sellers, or if it’s not really swinging either way. Each month, the market is measured between 0 and 100. The closer to 100, the bigger the advantage sellers have.The orange bars in the middle of the graph show the years when sellers had their strongest advantage, from 2020 to early 2022. But, as time has gone on, the market has become more balanced. It shifted from a strong seller’s market to a less intense one. And lately, it's been neutral more than anything else (that’s the gray bars on the right side of the graph). That means buyers are gaining some negotiating power again.In a more balanced or neutral market, homes tend to stay on the market a little longer, bidding wars are less common, and sellers may need to make more concessions – like price reductions or helping with closing costs. That shift gives today’s buyers more opportunities and less competition than a couple of years ago.Why Are Things Changing?Inventory plays a big role. When there are more homes for sale, buyers have more options – and that cools down home price growth. As data from Realtor.com shows, the supply of available homes for sale isn’t growing at the same rate everywhere (see graph below):This graph shows how inventory has changed compared to last year (blue bars) and compared to 2017–2019 (red bars) in different regions of the country.The South and West regions of the U.S. have seen big jumps in housing inventory in the past year (that’s the blue on the right). Both are almost back to pre-pandemic levels. That’s why more buyer’s markets are popping up there.But in the Northeast and Midwest, inventory is still very low compared to pre-pandemic (that’s why those red bars are so big). That means those areas are more likely to stay seller’s markets for now.What This Means for YouEvery local market is different. Even if the national headlines say one thing, your town (or even your neighborhood) could be telling a totally different story.Knowing which type of market you’re in helps you make smarter decisions for your move. That’s why working with a local real estate agent is so important right now. As Zillow says:“Agents are experts on their local markets and can craft buying or selling strategies tailored to local market conditions.”Agents understand the unique trends in your area and can help you make the best choices, whether you’re buying or selling. With their expert strategies, you can move no matter which way the market is leaning, because they know how to navigate various levels of buyer competition, how to find hidden gems locally, how to price a house right, how to negotiate based on who has more leverage, and more.Bottom LineIf you're ready to make a move, or even just thinking about it, connect with a local real estate agent. They’d love to help you understand your local market and create a game plan that works for you.What’s one thing you’re curious about when it comes to the market in your area?

KCM CrewApril 29, 2025

Why Today’s Foreclosure Numbers Aren’t a Warning Sign

When it feels like the cost of just about everything is rising, it’s only natural to wonder what that means for the housing market. Some people are even questioning whether more homeowners will struggle to make their mortgage payments, ultimately leading to a wave of foreclosures. And recent data showing foreclosure filings have increased is only feeding into this fear. But don’t let that scare you.If you put the latest data into context, it’s clear there’s no reason to think this is a repeat of the last housing crash.This Isn’t Like 2008While it’s true that foreclosure filings ticked up in the latest quarterly report from ATTOM, they’re still lower than the norm – and way below levels seen during the crash. And it’s a lot easier to see if you graph that out.If you compare Q1 2025 (on the right side of the graph) to what happened in the years surrounding the 2008 crash (shown in red), it’s clear the market is in a completely different place (see graph below):Back then, risky lending practices left homeowners with mortgages they couldn’t afford. That led to a wave of foreclosures, which flooded the market with distressed properties, a surplus of inventory, and caused home prices to drop dramatically.Today, lending standards are much stronger, and most homeowners are in a much better financial position. That’s why filings are so much lower this time.And just in case you’re looking at 2020 and 2021 and thinking we’ve ramped up since then, here’s what you need to know. During those years, there was a moratorium designed to help millions of homeowners avoid foreclosure in challenging times. That’s why the numbers for just a few years ago were so incredibly low.So don’t compare today to that low point. If you look at more normal years like 2017-2019, overall foreclosure filings are actually down from what’s typical – and way down from the volume during the crash.Of course, no one wants to go through the process of foreclosure. And the recent increase is emotional because it’s real lives that are impacted – let's not discount that. It’s just that, as a whole, this isn’t a signal of trouble in the market.Why We Haven’t Seen a Big Surge in ForeclosuresAnd here's something else to reassure you: homeowner equity. Over the past few years, home prices have risen significantly. That means today’s homeowners have built up a solid financial cushion. As Rob Barber, CEO at ATTOM, explains:“While levels remain below historical averages, the quarterly growth suggests that some homeowners may be starting to feel the pressure of ongoing economic challenges. However, strong home equity positions in many markets continue to help buffer against a more significant spike . . .”Basically, if someone falls on hard times and can’t make their mortgage payments, they may be able to sell their home instead of going into foreclosure. That’s a huge contrast to 2008, when many people owed more than their homes were worth and had no choice but to walk away.Don’t discount the strong equity footing most homeowners have today. As Rick Sharga Founder and CEO of CJ Patrick Company, explains in a recent Forbes article:“ . . . a significant factor contributing to today’s comparatively low levels of foreclosure activity is that homeowners—including those in foreclosure—possess an unprecedented amount of home equity.”Bottom LineEven with the recent increase, foreclosure numbers are not at the levels seen during the 2008 crash. Plus, most homeowners today are in a much stronger equity position, even with rising costs.If you are a homeowner who’s facing hardship, talk to your mortgage provider to explore your options.

KCM CrewApril 28, 2025

Paused Your Moving Plans? Here’s Why It’s Time To Hit Play Again

It’s not really a surprise that 70% of buyers paused their home search last year. Maybe you were one of them. And if so, no judgment. Conditions just weren’t great.Inventory was too low, prices were too high, and mortgage rates were bouncing all over. That made it really hard to find a home you loved – and could afford. And why sell if you’re not sure where you’re going to go? But here’s the thing: the market’s shifting. And it might be time to hit play again.The Inventory Sweet SpotMore homeowners are jumping back into their search to make a move this year. Builders are finishing more homes. And together, that’s creating more options for you when you move – maybe even the home you’ve been waiting for. More homes = more possibilities.But there’s more to it than that. When you sell, you don’t want to feel like it’s impossible to find your next home. At the same time, you also don’t want inventory to be so high, it takes ages for your house to sell. Right now, you’ll get the best of both worlds.This data will help paint the picture for you. According to Realtor.com, inventory has jumped 28.5% since this time last year, but it’s still below pre-pandemic levels in most markets – and here’s why this is such a sweet spot (see graph below):Basically, there are more homes to choose from when you make your move, but not so many that you’ll struggle to sell your current house. Your home should sell quickly if you work with an agent to make sure it’s priced right and prepped to impress.More options. Less chaos. Solid demand: That’s the real sweet spot. But here’s something else to consider. Data from Realtor.com also shows inventory has been on the rise for 17 straight months. And experts agree it’s likely to continue climbing throughout the year. As Lance Lambert, Co-Founder of ResiClub explains:“The fact that inventory is rising year-over-year . . . strongly suggests that national active housing inventory for sale is likely to end the year higher.”So, this may actually be the best time to sell. Your house may stand out more now than it would as the year goes on and inventory grows even more. Wait too long, and you may be one of many trying to stand out later this year.Bottom LineIf you’ve been waiting for the housing market to give you a sign – it just did. Whether you’re looking to move up, scale down, or relocate completely, this might be the best balance we’ve seen in a while.What’s holding you back from taking advantage of this sweet spot? Connect with an agent to talk through it and see what’s possible.

KCM CrewApril 25, 2025

You Finally Have More Options for Your Move

Some HighlightsIf you put your home search on hold because you couldn’t find anything you liked in your budget, it’s time to try again. There’s a much wider selection of homes for sale, with more fresh listings hitting the market each month.With more options come more possibilities. Connect with an agent if you want to see what’s available in your area.

KCM CrewApril 24, 2025

Should I Buy a Home Now or Wait?

At some point, you’ve probably heard the saying: “Yesterday was the best time to buy a home, but the next best time is today.”That’s because homeownership is about the long game – and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works.Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you. And you deserve to understand why.Forecasts Say Prices Will Keep ClimbingEach quarter, over 100 housing market experts weigh in for the Home Price Expectations Survey from Fannie Mae, and they consistently agree on one thing: nationally, home prices are expected to rise through at least 2029.Yes, the sharp price increases are behind us, but experts project a steady, healthy, and sustainable increase of 3-4% per year going forward. And while this will vary by local market from year to year, the good news is, this is a much more normal pace – a welcome sign for the housing market and hopeful buyers (see graph below):And even in markets experiencing more modest price growth or slight short-term declines, the long game of homeownership wins over time.So, here’s what to keep in mind:Next year’s home prices will be higher than this year’s. The longer you wait, the more the purchase price will go up.Waiting for the perfect mortgage rate or a price drop may backfire. Even if rates dip slightly, projected home price growth could still make waiting more expensive overall.Buying now means building equity sooner. When you play the long game of homeownership, your equity rewards you over time.What You’ll Miss Out OnLet's put real numbers into this equation, because it adds up quickly. Based on those expert projections, if you bought a typical $400,000 home in 2025, it could gain nearly $80,000 in value by 2030 (see graph below):That’s a serious boost to your future wealth – and why your friends and family who already bought a home are so glad they did. Time in the market matters.So, the question isn’t: should I wait? It’s really: can I afford to buy now? Because if you can stretch a little or you’re willing to buy something a bit smaller just to get your foot in the door, this is why it’ll be worth it.Yes, today’s housing market has challenges, but there are ways to make it work, like exploring different neighborhoods, asking your lender about alternative financing, or tapping into down payment assistance programs.The key is making a move when it makes sense for you, rather than waiting for a perfect scenario that may never arrive.Bottom LineTime in the Market Beats Timing the Market.If you’re debating whether to buy now or wait, remember this: real estate rewards those who get in the market, not those who try to time it perfectly.Want to take a look at what’s happening with prices in your local area? Whether you're ready to buy now or just exploring your options, having a plan in place can set you up for long-term success.

KCM CrewApril 23, 2025

What’s Your House Worth Now? The Answer May Surprise You

Let’s talk about something you might not check nearly as often as your bank account – and that’s how much your home is worth. But when it comes to your financial situation, it’s an important thing to remember. When’s the last time you had a professional show you the value of your home?Think about it. For most people, your house is probably the biggest asset you have. And if you’ve owned your home for a few years (or longer), chances are it’s been quietly building wealth for you in the background. And honestly? You might be surprised by just how much. What Is Home Equity?This wealth you may not even realize you have comes in the form of home equity. Home equity is the difference between what your house is worth and what you still owe on your mortgage. It grows over time as home values rise and as you pay down your mortgage each month. Here’s an example to help you really understand how this works.Let’s say your house is now worth $500,000, and you have $200,000 left to pay off on your loan. That means you have $300,000 in equity. And most homeowners are sitting on some pretty significant equity right now.According to Cotality (formerly CoreLogic), the average homeowner with a mortgage has about $311,000 in equity.Why You Probably Have More Than You ThinkHere are the two main reasons homeowners like you have record amounts of equity right now:1. Significant Home Price Growth. According to the Federal Housing Finance Agency (FHFA), home prices have jumped by more than 57% nationwide over the last five years (see map below):And if you purchased your home a few years ago (or more), this means your house is likely worth much more now than when you first bought it, thanks to how much prices have climbed lately.2. People Are Living in Their Homes Longer. Data from the National Association of Realtors (NAR), shows the average homeowner stays in their home for about 10 years now (see graph below):That’s longer than it used to be. And over that decade? You’ve built equity just by making your mortgage payments and riding the wave of rising home values.So, if you’re one of those people who’s been in their home for that long, here’s how much the behind-the-scenes price growth has helped you out. According to NAR:“Over the past decade, the typical homeowner has accumulated $201,600 in wealth solely from price appreciation.”What Could You Actually Do with That Equity?Remember, your house might be your biggest financial asset – and, if you’re smart about how you leverage your equity, it could open up some exciting opportunities for your future.Use it to help buy your next home. Your equity could help you cover the down payment on your next home. In some cases, it might even mean you can buy your next house in all cash.Renovate your current house to better suit your life now. And, if you’re strategic about your projects, they could add even more value to your home if you do sell later on.Start the business you’ve always dreamed of. Your equity could be exactly what you need for startup costs, equipment, or marketing. And that could help increase your earning potential, so you’re getting yet another financial boost.Bottom LineChances are, your house is worth a lot more than you realize. Whether you’re thinking about selling, upgrading, or simply want to understand your options, your equity isn’t just a number. It’s a tool.If you sold your house and had significant equity to work with, what would you do with it? Connect with an agent to figure out how to turn your home’s value into your next big move.

KCM CrewApril 22, 2025

What You Can Do When Mortgage Rates Are a Moving Target

Have you seen where mortgage rates have been lately? One day they go down a little. The next day, they go back up again. It can feel confusing and even frustrating if you’re trying to decide whether now’s a good time to buy a home.Take a look at the graph below. It uses data from Mortgage News Daily to show that after a relatively stable month of March, mortgage rates have been on a bit of a roller coaster ride in April: This kind of up-and-down volatility is expected when economic changes are happening.And that’s one of the reasons why trying to time the market isn’t your best move. You can’t control what happens with mortgage rates. But you’re not powerless. Even with all the economic uncertainty right now, there are things you can do. You can control your credit score, loan type, and loan term. That way, you can get the best rate possible in today’s market.Your Credit ScoreYour credit score can really affect the mortgage rate you qualify for. Even a small change in your score can make a big difference in your monthly payment. Like Bankrate says:“Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”Keeping your credit score up is key when it comes to qualifying for a home loan. If you’re not sure where your score stands or how to improve it, talk to a loan officer you trust.Your Loan TypeThere are also different types of loans out there, and each one comes with unique requirements for qualified buyers. The Consumer Financial Protection Bureau (CFPB) explains:“There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose. Talking to multiple lenders can help you better understand all of the options available to you.”Always work with a mortgage professional to figure out which loan makes the most sense for you and your financial situation.Your Loan TermJust like there are different loan types, there are also different loan terms. Freddie Mac puts it like this:“When choosing the right home loan for you, it’s important to consider the loan term, which is the length of time it will take you to repay your loan before you fully own your home. Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.”Most lenders typically offer 15, 20, or 30-year conventional loans. Be sure to ask your loan officer what’s best for you.Bottom LineYou can’t control what’s happening with the economy or mortgage rates, but you can take steps that’ll help you get the best rate possible.Connect with a local real estate agent and a lender to talk about what you can do today to put yourself in a strong spot for when you’re ready to buy a home.

KCM CrewApril 21, 2025

Don’t Miss This Prime Spring Window To Sell Your House

According to Realtor.com, the best week to list your house this year was April 13–19. And since that week has come and gone, you might be wondering: did I miss my chance? Not at all – and here’s why.That’s just one source’s take, based on their own research. Other organizations run similar studies. And since different places use different methodologies for their research, sometimes the results vary too – and that’s actually good news for you. According to Zillow, the best time to list your house is still ahead.The latest research from Zillow says sellers who list their homes in late May tend to see higher sale prices based on home sales from last year. The study explains why:“Search activity typically peaks before Memorial Day, as shoppers get serious about house hunting before their summer vacation and the new school year in the fall. By targeting late spring, sellers can get their home listed when the most shoppers are looking. When more buyers are competing for homes, sellers can command a higher price.”And they’re not the only ones saying selling in May can help homeowners net top dollar. ATTOM Data conducted a similar study by analyzing 59 million home sales over the past 13 years:“Freshly compiled sales statistics from ATTOM demonstrate that home sellers continue to reap significant benefits from listing their properties during the month of May. Examination of home sales trends spanning thirteen years reveals that, on average, sellers are commanding 11.1 percent premium above the estimated market value.”An article from Bankrate echoes this sentiment and brings this all together to show that any time in April or May is a good time:“Some patterns and trends usually do hold true throughout the year, and one is that spring continues to be the best time to sell. Sellers can net thousands of dollars more if they sell during the peak months of April and May. . .”The window to sell during prime time is very much still open, so you can make a move and potentially cash in big if you sell now.That said, the best week to list your house really depends on a few local factors, like buyer demand, how many homes are for sale nearby, and how quickly things are selling. That’s why working with an experienced agent who knows your area is key. Bottom LineSpring is the busiest time in real estate – and there’s still time to take full advantage of that momentum.What’s holding you back from making your move this spring? And what would help you feel ready? Connect with an agent to talk about it.

KCM CrewApril 18, 2025

If the Asking Price Isn’t Compelling, It’s Not Selling

Some HighlightsUnfortunately, a lot of sellers today are setting their asking price too high. That’s leading to an uptick in price cuts.Some of the most common reasons this is happening are that they’re not paying attention to current market conditions or they’re trying to leave room for negotiation.The best way to avoid this mistake? Connect with an agent to make sure your house is priced to pull people in, not push them away.

KCM CrewApril 17, 2025

Pre-Approval Isn’t Commitment – It’s Clarity

If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – getting pre-approved early is still one of the smartest moves you can make. Why? Because, like anything in life, the right prep work makes things clearer.The best time to get serious about buying is before you’re ready to buy. Here’s why.Pre-Approval Helps You Understand Your NumbersOne of the biggest benefits of pre-approval is how it helps you understand your buying power. As part of the pre-approval process, a lender will walk through your finances and tell you what you can borrow based on your income, debts, credit score, and more. That number is power.Once you have that clarity, you’re no longer guessing. You know what you’re working with. And that gives you the information you need to be able to plan ahead. That way, you’re not falling in love with homes that are outside of your price range – or missing out on ones that aren’t.Pre-Approval Helps You Move Quickly When You’re ReadyYou don’t have to be ready to buy to be ready to buy.It happens all the time – someone scrolls through listings just for fun, and then BAM – they fall in love with something they see online. But by the time they scramble to connect with an agent and then get pre-approved with a lender, someone else beats them to it, and they lose the home. And you don’t want that to happen to you.While you can’t control when the right home shows up – you can be ready for it.Pre-approval isn’t about jumping the gun or rushing your timeline. It’s about making sure you’re ready when it’s go-time. As Experian explains:“Waiting too long to get a preapproval, however, could leave you at a disadvantage . . . you could find the perfect home, but another buyer could snatch it up while you're waiting for the lender to review your preapproval application. . . getting a preapproval just before you begin actively looking at homes may be your best option.”Instead of rushing to figure out your numbers, trying to get documentation for your home loan together, and watching the house you love slip away while you wait to hear from your lender, you’re already in the game.It’s like showing up to the starting line with your shoes tied and your warm-up done – while everyone else is still looking for parking.But pre-approvals do have an expiration date, so be sure to ask your lender how long it’s good for. Bankrate offers this insight:“Many mortgage preapprovals are valid for 90 days, though some lenders will only authorize a 30- or 60-day preapproval. If your preapproval expires, getting it renewed can be as simple as your lender rechecking your credit and finances to ensure there have been no major changes to your situation since the first time ‘round.”The thing is, if you’ve been pre-approved – even if you’re just thinking about casually looking – you have a much better sense of how to navigate your home search within your budget. Plus, you’ll be ready if the perfect home comes along. So why not make it happen?Bottom LineGetting pre-approved doesn’t mean you have to buy a house today. But it does mean you’ll know what you're working with when the right one shows up. If you want to get pre-approved, connect with a lender to get that process started.In the meantime, have a conversation with an agent about what's on your mind and what you're looking for.If the perfect house popped up tomorrow, would you be ready to make a move?

KCM CrewApril 16, 2025

Do You Think the Housing Market’s About To Crash? Read This First

Lately, it feels like a lot of people have been asking the same question: “Is the housing market about to crash?”If you’ve been scrolling through social media or watching the news, you might have seen some pretty scary headlines yourself. That’s why it’s no surprise that, according to data from Clever Real Estate, 70% of Americans are worried about a housing crash in 2025.But before you hit pause on your plans to buy or sell a home, take a deep breath. The truth is: the housing market isn’t about to crash – it’s just shifting. And that shift actually works in your favor.Today’s Inventory Keeps the Housing Market from CrashingMark Fleming, Chief Economist at First American, says:“There’s just generally not enough supply. There are more people than housing inventory. It’s Econ 101.”Think about it. If there’s a shortage of something – like tickets to a popular concert – prices go up. That’s what’s been happening with homes. We still have a shortage of supply. Too many buyers and not enough homes push prices higher.Check out the white line for 2025 in the graph below. Even though the number of homes for sale is climbing, data from Realtor.com shows we’re still well below normal levels (shown in gray):That ongoing low supply is what’s stopping home prices from dropping at the national level. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:“… if there’s a shortage, prices simply cannot crash.”More Homes for Sale Means Price Growth Is EasingAnd, as more homes become available, that takes some of the intense upward pressure off home price growth – leading to healthier price appreciation.So, while prices aren’t falling nationally, growing inventory means they also aren’t rising as fast as they were. What we’re seeing is price moderation (see graph below):And according to Freddie Mac, that moderation should continue through the rest of this year:“In 2025, we expect the pace of house price appreciation to moderate from the levels seen in 2024, while still maintaining a positive trajectory.” Put simply, that means prices will continue going up in most areas, just not as quickly. That’s good news for anyone who’s been having trouble finding a home and feeling sticker shock from the rapid price appreciation of the past few years.But of course, what’s happening with prices and inventory is going to vary by local market. So, talk to your agent to find out what’s happening where you live.Bottom LineDon’t let the talk scare you. Experts agree that a housing market crash is unlikely in 2025. As Business Insider reports: “. . . economists who study housing market conditions generally do not expect a crash in 2025 or beyond unless the economic outlook changes.” Instead, we’re heading into a housing market that’s healthier and more balanced, with slower price growth and more opportunity. Chat with a local real estate agent about what’s happening in your local market and how you can make the most of it.

KCM CrewApril 15, 2025

Are You Saving Up To Buy a Home? Your Tax Refund Can Help

You’ve been working on your savings and dreaming of that moment when you finally have keys to a place that’s truly yours. What you might not realize is that your tax return could give you a little extra cash to help you get there sooner. As Freddie Mac notes:“ . . . your tax refund from the IRS can be a useful supplement to your homebuying budget.” So, if you’re getting a tax refund this year, you can use it to help you pay for some of the upfront costs that come with buying a home, like the down payment and closing costs. And here’s the best part.On average, people are getting even more money back in their refunds than they did last year. While it’s not a big increase, the visual below uses data from the Internal Revenue Service (IRS) to show the average individual’s refund is 3.9% higher this year:Of course, how much money you may get in your tax refund is going to vary. But when it comes to buying a home, any extra cash can help move things forward. Here are a few examples of how you can put that money to good use, according to Freddie Mac:Save for a down payment – Saving for a down payment can be one of the biggest hurdles for buyers. Setting aside your tax refund for this expense could help you get to your goal faster. Just remember, it’s typically not required to put 20% down.Pay for closing costs – Closing costs include fees for things like the appraisal, title insurance, and underwriting of your loan. They’re generally between 2% and 5% of the total purchase price of the home. So, putting your refund toward these costs can make things more manageable on closing day.Lower your mortgage rate – Your lender might give you the option to buy down your mortgage rate. If you qualify for this option, you could pay up front to have a lower rate on your mortgage. If affordability is tight for you at today’s rates and home prices, this may be worth exploring.But you don’t have to figure it all out on your own. Working with a team of trusted real estate professionals who understand the homebuying process, what you need to save, and any resources you can tap into will help you make sure you’re ready to buy when the time comes.Bottom LineWhen it comes to saving for a home, every dollar gets you one step closer to your goal. While your tax refund may not be enough to change the game, it can help give your homebuying fund a boost.What would having your own home mean for you or your family this year?

KCM CrewApril 14, 2025

4 Ways To Make an Offer That Stands Out This Spring

Now that spring is here, more and more buyers are jumping back into the market, and competition is heating up.If you’re serious about landing a home you’ll love, you need more than just a wish list. You need a smart strategy – and that starts with working with a great agent who can help you put together a strong offer.Here are some top tips your agent will share with you that are helping buyers stand out (and win) in today’s market.1. Don’t Lowball on PriceIt’s tempting to start with a super low offer in an attempt to save money. But in a competitive spring market, that could backfire. If the price isn’t reasonable, you could offend the seller and lose out to a better bid. As NerdWallet says:“If you really want the property, you should avoid offending the seller. So, be wary of placing a so-called lowball offer. One of the most obvious risks of making a lowball offer is outright rejection. . . As a buyer, you’ll need to find a balance between making a fair offer and running the risk of losing the property.”Your agent can help you understand local pricing trends and what a fair, yet strong offer looks like this season.2. Consider an Escalation ClauseIf you’re worried about competing bids, an escalation clause can help. If you have an escalation clause and the seller gets another offer, it increases yours up to a certain max amount you set. That way you don’t lose out over a small difference. Investopedia explains it like this:“An escalation clause is a way to automatically escalate your bid by a certain dollar amount, up to a certain ceiling, to compete with other bids.”Work with your agent to decide if this tactic fits your situation and budget. Just be sure not to stretch beyond what you’re truly comfortable spending and that the home is likely to appraise for the amount you offer.If the appraisal comes in lower than your offer, you may have to make up the difference out of pocket. Your agent can help you weigh these risks and determine the best approach for your specific situation.3. Be Intentional About the Concessions You Ask ForWhile some concessions (like help with closing costs) might be possible, too many demands could make another buyer’s cleaner offer more attractive. As the National Association of Realtors (NAR) notes:“There are many factors up for discussion in any real estate transaction—from price to repairs to possession date. A real estate professional who’s representing you will look at the transaction from your perspective, helping you negotiate a purchase agreement that meets your needs . . .”An agent who knows what’s working for other buyers in your area can help you prioritize the most important asks – and avoid ones that could turn off the seller.4. Consider a Timeline That Appeals to the SellerSometimes, it’s not just about price, it’s about timing. Does the seller need extra time to move out? Or do they want to move as soon as possible? Flexibility here can work in your favor. By adjusting your timeline (if you’re able to), you could stand out against other offers. According to Atlas Van Lines:“Everyone will have a unique timeline depending on the size of the move, the distance they are moving from or to, and personal preferences. It is important to be flexible and adapt the timeline as needed while ensuring you allocate enough time for each step.”Your agent can communicate with the seller’s agent to find out what matters most, including timing.Bottom LineSpring is here – and more buyers are entering the market. Work together with a local real estate agent to make sure your offer stands out.What’s one thing you want to feel confident about before making an offer this spring?

KCM CrewApril 11, 2025

A Recession Doesn’t Mean a Housing Crisis

Some HighlightsThere’s a lot of talk about a recession lately and how the odds of one are rising. If you’re wondering what that means for the housing market, here’s what the data tells us.While you may remember the price crash in 2008, that’s not the norm. Looking back all the way to 1980, home prices usually rise and mortgage rates tend to fall. If you have questions about buying or selling a home in today’s market, connect with a real estate agent.

KCM CrewApril 10, 2025

Why You Don't Want To Skip Your Home Inspection

When you finally find the home you want to buy, it’s easy to get caught up in the excitement. You’ve toured the place, imagined your furniture in it, maybe even pictured your morning coffee on the porch. The last thing you want is to slow down the process with more steps or lose out to another buyer’s offer because they skipped their inspection.But here’s the thing. Buying a home is one of the biggest financial decisions you’ll ever make. And no matter how perfect that house seems, skipping a home inspection is a risk that could cost you a lot more than just time.What Exactly Is a Home Inspection?A home inspection gives you a detailed look at the home’s condition, usually after your offer’s accepted but before closing. While what’s covered varies by state, an inspector usually goes over the home’s major systems and structure, including things like the roof, foundation, plumbing, electrical, HVAC, and more.Why an Inspection Is Worth ItHere’s a quick rundown of some of the biggest benefits of getting an inspection.Helps you avoid unpleasant surprises. A house might seem move-in ready, but could have issues you didn’t see during your walkthrough. Knowing about these before closing day is important. That way, you have a better idea of what work may need to be done to the home.Gives you negotiating power. Depending on what the inspection turns up, you may want to re-negotiate with the seller. For that, lean on your agent. With their help, you can ask the seller to handle repairs before closing day or provide a credit so you can take care of them yourself.Offers you peace of mind. Buying a home is emotional, especially if you’ve been searching for a while. An inspection helps take some of the uncertainty off your plate, so you can move forward with confidence.A few hundred dollars upfront for the home inspection could save you thousands in surprise repairs later. As the National Association of Realtors (NAR) says:“Failure to obtain a home inspection could potentially cost you a great deal of money and hassles in the long run.” Why You Don’t Want To Waive Your InspectionAccording to the latest data from NAR, nearly 1 in 4 buyers are waiving (or removing) the inspection contingency when they buy a home. And with spring being peak homebuying season and buyer activity already heating up, you may be thinking about doing that yourself. As Realtor.com points out:“ . . . if you're in a hot real estate market where homes are getting multiple offers, there might be a temptation to skip an inspection when you really want the house. However, waiving a home inspection comes with sizable risks.”But skipping the inspection is a gamble that doesn’t necessarily pay off. Just remember, there are other ways to make your offer attractive to sellers, like being flexible with the closing date. Before making an offer, talk to your agent about other ways to get a seller’s attention without sacrificing your peace of mind.Bottom LineEven if skipping an inspection sounds like a way to make your offer more competitive or speed things up, it’s risky. It’s not just extra time and documentation, it’s a smart step that protects your wallet, your investment, and your future.If you could ask a home inspector one question before buying, what would it be? Let your agent know so it’s the first thing they bring up when the time comes.

KCM CrewApril 9, 2025

Does Your Current Home Fit Your Retirement Plans?

Retirement isn’t just a milestone. It's the beginning of something really special. After years of hard work, it’s finally time to slow down, explore new passions, and live life on your own terms.But with this exciting chapter comes some big choices. And one of the biggest is this: does your current home still make sense for the lifestyle (and budget) you want in this next phase of life?That’s an especially important question right now. Just in the past five years, the cost of living has jumped by 23% according to the Bureau of Labor Statistics (BLS). That’s based on the Consumer Price Index (CPI), which is how changes are tracked in the average price consumers pay for goods and services (see graph below):When you’re thinking about how to make your retirement savings last, those rising expenses matter. And if you’ve started to wonder whether your money will stretch as far as you need it to go, don’t worry. You may have more control than you think.One way many retirees are protecting their savings is by relocating. Because your dollars do go further in some places.Moving to an area with a lower cost of living can help you save on regular expenses like your housing, utilities, and taxes – especially if you downsize at the same time.And that can free up room in your budget for the things that make retirement some of the best years of your life: travel, hobbies, spoiling your grandkids, or any of the other things you’ve been dreaming about doing in this next phase.That’s not to say you have to move. It just means you’ll want to think about where you plan to live and make sure you’ve got enough savings to cover actually living there. It's all about planning. As Go Banking Rates explains:“How much you should have saved for retirement depends on a few key factors, including your location. Where you choose to spend your golden years is critical.”And you don’t always have to go far. Sometimes it’s out of state, but other times moving to the suburbs instead of living near the city can make a big difference. And that’s worth thinking about as you plan for your next chapter.Whether you’re considering downsizing, moving closer to your grandkids, or heading to an area where you can stretch your savings, a real estate agent can help. They’ll work with you to explore the options that make sense for your goals – and can help make selling your current house easier. They can also connect you with trusted agents in other parts of the country if you're considering a big move.Bottom LineYou’ve worked hard to build a future you can enjoy. If your current home or location no longer supports that, it may be time to explore what’s next. What does your ideal retirement look like? And could a move help make it even better? Connect with an agent to talk about how to make that vision a reality.

KCM CrewApril 8, 2025

The Truth About Newly Built Homes and Today’s Market

Headlines are talking about the inventory of new homes and how we’re back at the levels not seen since 2009. And maybe you’re reading that and thinking: oh no, here we go again. That’s because you remember the housing crash of the late 2000s and you’re worried we’re repeating the same mistakes.But before you let fear take hold, remember: headlines are designed to be clickbait. And a lot of the time, they do more to terrify than clarify. That’s because they don’t always give you all the context you need. So, let’s take a step back and look at what the data really says.Why This Isn’t Like 2008While it’s true the number of new homes on the market has reached its highest level since 2009, that’s not a cause for alarm. Here’s the context that matters most. When the data is turned into a graph, it’s clear the amount seen in 2009 wasn’t the peak of oversupply – not even close. That high point came earlier in 2007-2008. If anything, 2009 was when the number of new homes being built was really starting to slide back down (see graph below):The overbuilding that contributed to the housing crash happened in the years leading up to 2008. Not in 2009. At that point, construction was already slowing down. So, saying we’ve hit 2009 levels isn't the same thing as saying we’re overbuilding like we did the last time.Builders Have Actually Underbuilt for Over a DecadeHere’s some more data to prove it to you. After the crash, builders pulled production way back. As a result, they built far fewer homes than the market needed. And that was a consistent problem that lasted for over a decade. That long stretch of underbuilding created a major housing shortage, which is still a challenge today.The graph below uses Census data to show the number of new homes built each year over the past 52 years. You can clearly see the overbuilding leading up to the crash (in red), the period of underbuilding that followed (in orange), and how we’re only now getting back to a more normal level of construction:Today’s situation is different. Builders aren’t overbuilding – they’re catching up. In a recent article, Odeta Kushi, Deputy Chief Economist at First American, highlights this deficit and speaks to why the recent ramp-up in construction is actually good for today’s market, especially buyers:“This means more homes on the market and more options for home buyers, which is good news for a housing market that has been underbuilt for over a decade.”Of course, like anything else in real estate, the level of supply and demand will vary by market. Some markets may have more newly built homes, some less. But, nationally, there’s nothing to worry about. This isn’t like the last time.Bottom LineNo matter what you’re reading or seeing, the growing number of newly built homes on the market isn’t a red flag nationally – it's a sign builders are starting to make up for years of underbuilding. If you want to talk about what’s happening in your market, connect with an agent.

KCM CrewApril 7, 2025

House Hunting Just Got Easier – Here’s Why

If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search again. As Daryl Fairweather, Chief Economist at Redfin, explains:“Now is the best time to buy in the last two years. Mortgage rates are comparable to what they were two years ago, and prices remain high. However, there is significantly more inventory . . .”The number of homes for sale has grown compared to last year, and even more options are on the way. While this is typical for the busy spring season, here’s why this is so important right now.Homeowners are listing their houses at the highest pace we’ve seen in a while.New Listings Are on the RiseOver the past few months, the number of new listings, or homes that have recently been put on the market for sale, has been steadily rising (see graph below):Basically, more people are putting their homes on the market each month – whether they’re moving up, downsizing, or relocating. And this trend is a positive sign for the housing market.Sellers who may have been on the fence the past few years are starting to jump back in. That’s helping to boost overall inventory and create better opportunities for both buyers and move-up sellers alike.But it’s not just that the number of fresh options is up month-over-month; there’s also been a jump compared to last year. According to Realtor.com, new listings in March were 10.2% higher than last year, making it the biggest March for new listings since 2021 (see graph below):For anyone who’s been waiting for more choices, this is exactly what you’ve been hoping for – because more homes coming onto the market means more options and a better shot at finding one that fits your needs.To make sure you don't miss out on any of the latest listings for your area, lean on a local real estate agent.Bottom LineIf you're thinking about making a move this spring, now may be the time to start exploring your options. With more fresh listings hitting the market, you may find a home you love waiting for you.What features or neighborhoods are at the top of your wish list?

KCM CrewApril 4, 2025

Things To Avoid After You Apply for a Mortgage

Some HighlightsOnce a lender has reviewed your finances as part of the homebuying process, you want to be as consistent as possible. Don’t make any big changes that could affect your mortgage application.Here are a few tips. Don’t change bank accounts or apply for new credit. And this one may surprise you, don’t buy appliances or furniture for your next home yet either.The best tip of all? Before you do anything financial in nature, talk to your lender first.

KCM CrewApril 3, 2025

The #1 Thing Sellers Need To Know About Their Asking Price

When you put your house on the market, you want to sell it quickly and for the best price possible; that's generally the goal. But too many sellers are shooting too high right now. They don’t realize the market has shifted as inventory has grown. The side effect? Price cuts are on the rise, but they really don’t have to be. Here’s why.According to data from Realtor.com, in February, price cuts were the highest they’ve been in any other February since 2019 (see graph below):If you consider that 2019 was the last true normal year for the housing market – that's a big deal. We’re getting back to what’s typical for the market. This isn’t the same frenzied seller’s market we saw a few years ago. You may not get the same price your neighbor did at the height of the pandemic. And that means you may need to reset your expectations.Because here’s the reality. If you shoot too high and have to lower your price after the fact, you could actually end up walking away with lower offers than if you’d priced it right from the start. So, how do you avoid that? You lean on your agent.How an Agent Helps You Nail the Right Price A great agent doesn’t just pull a number out of thin air. They’ll use real data and market trends to make sure your house is priced based on what your specific home is valued at today. So, you’re setting a realistic price – one that’ll draw in serious buyers.And based on your agent’s analysis of your local market, they may even recommend strategically pricing slightly below market value to help your house attract more eyes and more competitive offers. Here’s how your agent will determine the right number for your house:They look at recent sales. What did similar homes in your area actually sell for? Not list for, sell for.They analyze local market trends. Your home’s value isn’t just about what you want for it, it’s about what buyers in your area are willing to pay.They craft the right strategy. They’ll make sure your home is priced to attract attention and create a sense of urgency among buyers.Why Overpricing Backfires Unfortunately, some sellers still ignore their agent’s advice and prefer to start high just to see what happens. The hope being maybe they get their full asking price, or they at least have more wiggle room for negotiation. But pricing high usually ends up costing you, and here’s why:Buyers may not even look at it. Today’s buyers are more budget-conscious than ever. If they see a home that seems overpriced, they’re likely to skip it completely rather than try to negotiate.It could sit on the market for too long. The longer your home sits unsold, the more buyers will assume something’s wrong with it. That can make it even harder to sell down the line.You might end up getting less. Homes that require a price cut often sell for less than they would have if they had been priced right from the start.You can see that shake out in the graph below. It uses data from the National Association of Realtors (NAR) to show that the longer a house sits, the less it’ll sell for:This graph shows that if a house sells within the first 4 weeks it is listed, it usually goes for full price. Based on experience, that's what usually happens to homes that are priced at or just below current market value. If it’s priced right, buyers will be interested, and, ultimately, willing to pay the asking price – or compete with other buyers and even go over asking.But if a house isn’t priced right, it doesn’t sell as quickly. And this graph shows that, after the first 4 weeks on the market, the price starts to drop from there. That’s because buyer interest falls off the longer it sits. So, it becomes more likely a seller will either accept a lower offer because that’s all they have, or opt to do a price drop to draw people back in.Bottom LineThe last thing you want is to list too high, watch your house sit, and then have to drop the price just to get attention. Talk to a local agent so that doesn’t happen to you.Want to make sure your home sells quickly and for the best price? Connect with an agent to talk about the right pricing strategy for your house.

KCM CrewApril 2, 2025

Townhomes: A Smart Solution for Today’s First-Time Buyers

Buying your first home in today’s market can feel tough. Between high home prices and mortgage rates, affordability is still a big challenge. And some buyers are making one simple trade-off that’s getting them in the door faster: square footage.According to the National Association of Home Builders (NAHB), 35% of buyers are willing to purchase something smaller to make homeownership happen. And one place you can usually find a smaller footprint (and sometimes better affordability) is in townhomes.Why Townhomes Are Gaining PopularityTownhomes typically cost less than single-family homes due to their more limited size. And that’s a big plus for today’s budget-conscious buyer. As Realtor.com says:"In today's market, affordability remains a key priority for homebuyers, making townhomes an attractive option because they are often priced more reasonably than single-family homes. It makes them especially appealing to first-time homebuyers on a tighter budget . . ."So, if you're trying to buy but feeling stuck because of rising prices, shifting your focus to townhomes could be one way to get into homeownership without maxing out your budget.Builders Are Responding to the DemandBuilders have seen buyers’ appetite shift to smaller homes, and they’re adjusting to meet the demand. As Joel Berner, Senior Economist at Realtor.com, explains:"Builders are making a concerted effort to provide smaller, more affordable inventory to the market in a way that the existing-home market cannot. Townhomes are a significant portion of that effort."And the numbers back it up. According to data from Realtor.com, townhomes now make up a bigger share of new construction listings than they did just a couple of years ago (see graph below):That means, if you’re interested in this type of house, you have more choices than you would have had over the last few years. And more options that are potentially more affordable are definitely a good thing. It should make your search for your first home a bit easier.Is a Townhome Right for You?If you’ve been focused only on more traditional homes with their own yards, an agent can help you explore whether a townhome could work for you. Who knows, you may find out you love the lifestyle. A lot of people do. As an article from the National Association of Realtors (NAR) explains:“Townhomes tend to cost less than single-family detached homes and can be appealing to young professionals who may desire medium-density, walkable neighborhoods.”That’s because they’re lower maintenance, they can provide a sense of community with other residents, and they have their own unique amenities. Not to mention, they give you the chance to start building wealth through homeownership without the upkeep that comes with having your own detached, single-family home. And that can be great for first-time buyers who are a bit worried about the maintenance anyway.But they also come with some other considerations, like dealing with noise through shared walls. If you’re a renter right now, maybe you’re used to that already. But these are the types of things you’ll want to think about. And that’s where an agent’s expertise comes in. They’ll help you weigh the pros and cons, so you understand how a townhome fits into your lifestyle and long-term goals before making your decision.Bottom LineIf you're struggling to find a home within your budget, it may be time to expand your search and consider options you haven’t before, like townhomes. Sometimes, compromising a little bit on space is worth it to get your foot in the door.What matters most to you — space, location, or budget? Connect with an agent to figure out where you can flex to make homeownership happen.

KCM CrewApril 1, 2025

Here’s What a Recession Could Mean for the Housing Market

Recession talk is all over the news, and the odds of a recession are rising this year. And that leaves people wondering what would happen to the housing market if we do go into a recession.Let’s take a look at some historical data to show what’s happened in housing for each recession going all the way back to the 1980s.A Recession Doesn’t Mean Home Prices Will FallMany people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time we saw such a steep drop in prices. And it hasn’t happened since.In fact, according to data from CoreLogic, in four of the last six recessions, home prices actually went up (see graph below):So, if you’re thinking about buying or selling a home, don’t assume a recession will lead to a crash in home prices. The data simply doesn’t support that idea. Instead, home prices usually follow whatever trajectory they’re already on. And right now, nationally, home prices are still rising at a more normal pace.Mortgage Rates Typically Decline During RecessionsWhile home prices tend to stay on their current path, mortgage rates usually drop during economic slowdowns. Again, looking at data from the last six recessions, mortgage rates fell each time (see graph below):So, a recession means mortgage rates could decline based on the data. While that would help with affordability, don’t expect the return of a 3% rate.Bottom LineThe answer to the recession question is still unknown, but the odds have gone up. But that doesn’t mean you have to wonder about the impact on the housing market – historical data tells us what usually happens.When you hear talk about a possible recession, what concerns or questions come to mind about buying or selling a home?

KCM CrewMarch 31, 2025

Paused Your Moving Plans? Here’s Why It Might Be Time To Hit Play Again

Last year, 70% of buyers abandoned their home search – and maybe you were one of them. It makes sense. Inventory was low, prices were high, and mortgage rates were up and down like a rollercoaster. All of that made it really hard to find a home you loved – and could afford.But guess what? The market is shifting.So, if you paused your moving plans in 2024, it might be time to hit play again. Here’s why.More Inventory Opens Up More OptionsEven if you could make the numbers work, the lack of available homes in recent years probably made it hard to come by something that fit your needs. But inventory is rising, which means you have more options now.According to Realtor.com, inventory has jumped 27.5% since this time last year (see graph below):So, if you were reluctant to list your house because you weren’t sure where you’d go if it sold, you have more choices than you did a year ago. That’s a big win.Homes Are Staying on the Market Longer, TooWhen the supply of homes for sale is low, they’re snatched up quickly because there just aren't enough of them to go around. And a few years ago, that meant your house could sell overnight. While that’s not always a bad thing, if you’re planning a move and also need to find your next home, a slower pace isn’t the end of the world. In fact, it’s welcome relief.Now that inventory has grown, homes are staying on the market longer, meaning you don’t have to feel as rushed in the process (see graph below):The latest data shows the typical time homes spent on the market went up by about 8% this year – that’s higher than we’ve seen since 2020, but still a faster pace than before the market ramped up. And it’s about a week longer than last year. Talk about a sweet spot for movers. It may seem like just a few days, but it gives you more flexibility and time to be thoughtful about your decisions. As Hannah Jones, Senior Economic Research Analyst at Realtor.com, notes:“There are more homes for sale than in the last few years, which means the market pace is a bit more manageable–with longer days on market–and many sellers are more flexible . . . Though buyers face still-high housing costs, they may find a bit more give in the market, which could give them more time to make a decision, even in the busy spring and summer months.”And if you’re thinking – but wait – doesn’t that mean it will be harder to sell my house? Don’t worry. With inventory still almost 23% below the pre-pandemic norm, well-priced homes are selling, especially as more buyers step back into the game this season.Bottom LineWith growing inventory, sellers who want to upgrade, downsize, or relocate have more choices. Plus, with less pressure to rush into an offer, it could be a great time to revisit your home search if you put it on hold.With more homes on the market and more time to make decisions, what else do you need to see in order to kickstart your home search again?

KCM CrewMarch 28, 2025

National Housing Trends To Watch

Some HighlightsAt a national level, the housing market has shifted over the past year.There are more homes for sale, price growth has moderated, and homes are taking a little longer to sell.Do you want to know how your area compares? Connect with a real estate agent to go over what's happening locally and what this means for you.

KCM CrewMarch 27, 2025

Buyers Have More Negotiation Power – Here’s How To Use It

You may have heard there are more homes for sale right now. And while that’ll vary depending on the market, it means that overall, things are starting to lean in a more balanced direction. As that happens, some sellers are a bit more open to compromise. Here’s what that means for you.You may be regaining some negotiating power. That can translate into savings, perks, or even better terms on your purchase – if you know what levers to pull during negotiation.Why an Agent Is an Essential Part of the Negotiation ProcessThe complicated part is knowing what is and isn’t on the table. That’s where your agent comes in. According to the National Association of Realtors (NAR), besides finding the right home, the top thing buyers want from their agent is help negotiating the terms of the sale, followed by negotiating the price.Here’s why. Agents are skilled negotiators and are trained for moments like this. Since your agent is an expert on the local market, they’ll also know what’s working for other buyers (and what’s not), and that can help you get a better understanding of what’s realistic to ask for.What's on the Negotiation Table?Here are some of the most common concessions an agent can help you negotiate:Sale Price: The most obvious concession is the price of the home. And that lever is being pulled more often today. Buyers don’t want to overpay when affordability is already so tight. And sellers who aren’t realistic about their asking price may have to consider adjusting their price.Closing Costs: Closing costs are usually about 2-5% of a home’s purchase price and include fees for things like the appraisal, title insurance, and underwriting of your loan. To offset the cash you have to bring to the table, you can ask the seller to pay for some or all of these expenses. This was the most common concession sellers made in 2024, according to NAR.Home Warranties: If you’re worried about the maintenance costs that may pop up after you get the keys, you can ask the seller to pay for a home warranty. Since this concession usually isn’t terribly expensive for the seller, it can be a good negotiation tool for a buyer. It’s not a big cost for them, but it can be a big perk for you.Home Repairs: Based on the inspection, you're within your rights to ask the seller to make repairs. If the seller doesn’t want to, they could offer to drop the home price or cover some closing costs, so you have more room in your budget to take care of the repairs yourself.Fixtures: Want that washer and dryer to stay? Maybe the stainless-steel fridge, too? In many cases, you can ask for appliances or even furniture to be included in the deal, which will save you money when you move in.Closing Date: The closing date is also negotiable. Based on your timeline, you may also request a faster or extended closing window. Depending on the seller’s needs, this could be great for their situation, too.Of course, negotiating is a complex process. And not every seller will be willing to offer concessions. Again, lean on your agent for expert advice about what’s realistic to ask for and what could turn sellers off.Because once you’ve found a home you love, you don’t want to risk losing it. But you also want to get the best terms possible on your purchase – and that’s where an agent can make all the difference.Bottom LineAs inventory grows, buyers are finding they have a bit more leverage. And having the right agent by your side – who can help you approach negotiations strategically – is key.What’s your biggest concern when it comes to negotiating with a seller?

KCM CrewMarch 26, 2025

Why Pre-Approval Is More Important Than Ever This Spring

Spring is here, and so is the busiest season in real estate. More buyers are out looking for homes, which means more competition for you. If you want to put yourself in the best position to buy, there’s one step you can’t afford to skip, and that’s getting pre-approved for a mortgage.Some buyers think they can wait until they’ve found a home they love before talking to a lender. But in a season where homes can sell fast, that’s a risky move. Getting pre-approved before you start your search is a much better bet.Here’s what you need to know about this early step in the buying process.What Is Pre-Approval?Pre-approval gives you a sense of how much a lender is willing to let you borrow for your home loan. To determine that number, a lender starts by looking at your financial history. Here are some of the things that can have an impact, according to Yahoo Finance:Your debt-to-income (DTI) ratio: This is how much money you owe divided by how much money you make. Usually, you can borrow more if you have a lower DTI.Your income and employment status: They’re looking to verify you have a steady income coming in – that way they feel confident in your ability to repay the loan.Your credit score: If your score is higher, you may qualify to borrow more.Your payment history: Do you consistently pay your bills on time? Lenders want to know you’re not a risky borrower.After their review, you’ll get a pre-approval letter showing what you can borrow. Having this peace of mind is a big deal – it helps you feel a lot more confident in your ability to get a home loan. And the fringe benefit is it can also speed up the road to closing day because the lender will already have a lot of your information.It Helps You Figure Out Your BudgetSpring is a competitive season, and emotions can run high if you find yourself up against other buyers. Having a firm budget in mind is so important. You don’t want to get too attached and end up maxing out what you can borrow. As Freddie Mac explains:“Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying.” So, use this time to really buckle down on your numbers. And be sure to factor in other homeownership costs – like property taxes, insurance, and maybe even homeowner’s association fees – so you know what you can comfortably afford.Then, partner with your agent to tailor your search to homes that match your budget. That way, you don’t fall in love with a house that’s out of your financial comfort zone.It Helps Your Offer Stand Out During the Busy SeasonSpring buyers aren’t just competing for homes. They’re competing for the seller’s attention, too. And a pre-approval letter can help you stand out by showing sellers you’ve already gone through a financial check. Zillow explains it like this:“Having a pre-approval letter handy while you’re shopping for a home can also help you act quickly once you’ve found a home you love. The letter shows potential sellers that you’re a serious buyer who has the financial means to close on the home. In a competitive market, an offer with a pre-approval letter attached will stand out among other offers that don’t include one — increasing the chances of your offer being accepted."That means when sellers are choosing among multiple offers, yours could rise to the top simply because you’ve already taken this step.And here’s one final tip for you. After you receive your letter, avoid switching jobs, applying for new credit cards or other loans, co-signing for loans, or moving money in or out of your savings. That’s because any changes to your finances can affect your pre-approval status. Bottom LineIf you’re thinking about buying a home this spring, getting pre-approved should be your first move. It’ll help you understand your budget, show sellers you’re serious, and keep you from falling in love with a house that’s out of reach. Talk to a lender to get started.What’s your plan to stand out in this competitive market? Connect with an agent to make sure you’re fully ready to buy.

KCM CrewMarch 25, 2025

The Best Week To List Your House Is Almost Here – Are You Ready?

If selling your house is on your to-do list this year, the time to start prepping is now. That’s because experts say the best week to list your house is coming up fast.A recent Realtor.com study analyzed years of housing market trends (excluding 2020 since it was an outlier) and found that April 13–19 is expected to be the ideal window to put your house on the market this year:“. . . we’ve identified April 13-19 as the best week to list for sellers . . . a seller listing a well-priced, move-in ready home is likely to find success. Because spring is generally the high season for real estate activity and buyers are more plentiful earlier rather than later in the year, listing earlier in the spring raises a seller’s odds of a successful sale.”What Makes This Week Stand Out?As the quote mentions, spring is almost always a strong season for sellers. But this particular week could give you an even bigger advantage this year. Realtor.com goes on to say what listing during this sweet spot could mean for you:More buyers looking at your home since demand is high this time of year.A faster sale since serious buyers are eager to move before summer. A better chance of selling for top dollar. According to the study, you could get an average of $4,800 more this week (and $27,000 more than you would earlier in the year).If You Want Your House on the Market for that Window, Act NowWith just a few weeks left before this prime listing window, you'll need to make a plan to work smart and act fast. That’s where working with a great real estate agent comes in. They can help you:Figure out exactly what you need to do to get your house ready.Prioritize the tasks that’ll make the biggest impact in the shortest time.Decide if there are any quick fixes or small upgrades that could help you attract buyers.Assuming your house is already in good shape, your focus should be on quick, high-impact updates. As Investopedia explains:“You won’t have time for any major renovations, so focus on quick repairs to address things that could deter potential buyers.”Here are a few examples of small projects that can make a big difference according to Redfin:What If You’re Not Ready Just Yet?Don’t worry – it’s okay if you don’t think you’ll be ready for this week. Just because April 13–19 is projected to be the ideal week by Realtor.com, that doesn’t mean it’s the only good time to sell. Even if you need a bit more time to get your home list ready, there’s still plenty of opportunity this homebuying season. Bottom LineIf you’ve been waiting for the right time to sell, this could be it. But timing isn’t the only thing that matters – how well you prep and price your home is just as important.What’s one thing you’d need to do before you’d feel ready to list? Connect with an agent to figure out the best plan to make it happen.

KCM CrewMarch 24, 2025

4 Things To Expect from the Spring Housing Market

Spring is in full swing, and the housing market is picking up along with it. And if you’ve been wondering whether now is the right time to buy or sell, here’s the inside scoop on why this spring may be a great time to make your move.1. There Are More Homes for SaleAfter a long stretch of tight inventory, the number of homes for sale is finally improving. According to recent national data from Realtor.com, active listings are up 27.5% compared to this time last year. Look at the graph below and follow the green line for 2025. You can see, even though inventory levels still haven’t returned to pre-pandemic norms (shown in gray), that number is higher than it has been going into the spring market over the past few years (see graph below):Buyers: This means you have more choices, and you can be more selective.Sellers: With more homes available than in recent years, you’re more likely to find what you’re looking for when you move. And knowing that inventory is still below more normal levels means there will be demand for your home when you sell it, too.2. Home Price Growth Is ModeratingAs inventory grows, the pace of home price growth is slowing down – and that will continue into the spring market. This is because prices are driven by supply and demand. When there are more homes for sale, buyers have more options, so there’s less competition for each house. Rising supply and less buyer competition causes price growth to slow, but it should still remain positive in most markets. As Freddie Mac says:“In 2025, we expect the pace of house price appreciation to moderate from the levels seen in 2024, while still maintaining a positive trajectory.”And while prices aren’t dropping at the national level, every market is different. Some areas are seeing stronger price growth, while others are cooling off or even seeing some price declines.Buyers: The slower pace of growth means prices aren’t rising as quickly as before – and that’s a relief. Any home you buy now is likely to appreciate in value over time, helping you build equity.Sellers: While prices are still rising, you might need to adjust your expectations. Overpricing your house in a more balanced market could mean it takes longer to sell. Pricing your house competitively is going to be key to attracting offers.3. Mortgage Rates Are StabilizingOne of the biggest hurdles for buyers over the past couple of years has been high, volatile mortgage rates. But there’s some good news – overall, they’ve stabilized in recent weeks – and have even declined a bit since the beginning of this year. And while that decrease hasn’t been a big drop, stabilizing mortgage rates has helped make buying a home a bit more predictable. According to Selma Hepp, Chief Economist at CoreLogic:“With the spring homebuying season upon us, the recent improvements in mortgage rates may help invite homebuyers back into the market.”Buyers: When mortgage rates are more stable, it’s easier to plan ahead because you have a better idea of what your future payment might be. But remember, rates will continue to be volatile. So, lean on your agent and your lender to make sure you know what the latest mortgage rate means for you.Sellers: Slightly lower rates that are starting to stabilize are encouraging more buyers to move forward with their plans. That’s good for demand when you’re planning to sell your house.4. More Buyers Are ReturningWith more inventory, slowing price growth, and stabilizing mortgage rates, buyers are gaining confidence and coming back into the market. Demand is picking up, and data from the Mortgage Bankers Association (MBA) shows an increase in mortgage applications compared to the start of the year (see graph below):Buyers: Acting sooner rather than later could be a smart move before your competition heats up even more.Sellers: This is great news for you – more buyers mean a better chance of selling your house quickly.Bottom LineDo you have questions about what the spring market means for you? Connect with a local real estate agent and talk about how to craft your plan this season.With more homes for sale, slowing price growth, and stabilizing mortgage rates, how will this impact your decision to buy or sell this spring?

KCM CrewMarch 21, 2025

Your Roadmap to Homeownership

Some HighlightsBuying a home isn’t just a transaction – it’s a journey. And like any great adventure, having a solid roadmap makes all the difference. From building your dream team to getting pre-approved, house hunting, and signing the papers on closing day – each milestone is an achievement. Your journey starts here. Connect with an agent so you have help every step along the way.

KCM CrewMarch 20, 2025

How Buying or Selling a Home Helps Your Local Economy

Whether you’re buying or selling a house, here’s something to think about that most people don’t. Your decision doesn’t just impact your life and your family’s, it sparks a ripple effect that has a positive impact on your entire community.Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes. The data shows that if you buy an existing (previously lived-in) home, you're giving the local economy a boost of just over $60K. And if you buy a newly built home, that number goes up to over $125K (see visual below):That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a community:“. . . housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year . . .”When you think about it, it makes sense. Behind every home sale is a network of people involved, including contractors, city officials, real estate agents, lawyers, specialists, and more. Everyone has a job to do to help make sure your deal goes through.Put simply, when you buy or sell a home, you’re helping out your neighbors. So, your decision to move doesn’t just meet your needs; it supports their families, strengthens your town, and shapes the future of your community. Imagine walking through the front door of your next home, knowing your decision helped a local contractor keep their crew working or a small business thrive. Remember that feeling as you make your decision this year.Bottom LineMoving isn’t just a personal milestone – it's an investment in your community, too. If you’re ready to make a move, connect with a local real estate agent. You’ll make a difference for more people than you know.What’s most important to you as you prepare to buy or sell your house this year?

KCM CrewMarch 19, 2025

What You Need To Know About Homeowner’s Insurance

Homeowner’s insurance is a must-have to protect what’s probably your biggest investment – your home. And while you never want to think about worst-case scenarios, the right coverage is basically your safety net if something goes wrong. Here’s how it helps you.Covers Repairs and Rebuilding Costs: If your home is damaged by fire, storms, or other covered events, your policy helps pay for repairs or even a full rebuild.Protects Your Belongings: Many policies can also cover personal items like furniture, electronics, and clothing if they’re stolen or damaged.Provides Liability Coverage: If someone gets injured on your property, homeowner’s insurance can help cover medical bills or legal expenses.In the simplest sense, it gives you peace of mind. Knowing you have protection against unexpected events helps you worry less. And with such a big purchase, having that reassurance is a big deal.And while your first insurance payment will be wrapped into your closing costs, you’ll want this to be a part of your budget beyond closing day too. That’s because it's a recurring expense you’ll have once you get the keys to your home.Here’s what you need to know to help you budget for this important part of homeownership today.Costs and Claims Are RisingIn recent years, insurance costs have been climbing. According to Insurance.com, there are four big reasons behind the jump in premiums:More severe weather events and wildfires are leading to higher claims.Insurance companies are pulling out of high-risk areas, reducing options for homeowners in some states.Past rate increases haven’t kept up with the rise in claims.The cost to rebuild or repair homes has gone up due to higher material and labor costs.Basically, disasters are happening more often, repairs cost more, and insurers have to adjust their rates to keep up. Data from ICE Mortgage Technology helps paint the picture of how the average yearly premium has climbed over the last decade (see graph below):What You Can Do About ItHomeowner’s insurance is a must to protect your home and your investment. But with costs rising, you’ll want to do your homework to balance the best coverage you can get at the best price possible. Homeowner’s insurance rates vary widely based on location, provider, and coverage. Shop around and compare quotes before settling on a policy. And don’t forget to ask about discounts. Things like security systems or bundling with auto insurance could help lower your insurance costs.Bottom LineWhen you’re planning to buy a home, it’s important to look beyond just your mortgage payment. You’ll also want to budget for your homeowner’s insurance policy. It gives you a lot of protection against the unexpected. And while it’s true those costs are rising, there are things you can do to try to get the best price possible.What’s your biggest concern when it comes to budgeting for homeownership? Talk to an agent to make sure you’re set up for success.

KCM CrewMarch 18, 2025

Is It Time To Put Your House Back on the Market?

If you took your house off the market in late 2024, you’re not the only one. Newsweek reports that data from CoreLogic and the Wall Street Journal (WSJ) says nearly 73,000 homes were pulled from the market in December alone – that's more than any other December going all the way back to 2017 (see graph below):Whether it was because offers weren’t coming in, the timing around the holidays felt overwhelming, or they wanted to see if the market would improve in the new year – a lot of other homeowners decided to press pause, too.But now, with spring fast approaching, it’s time to reassess. The market is already picking up, and waiting any longer to jump back in may only mean you’d face more competition from other sellers down the road.Why Now Could Be the Right Time Selma Hepp, Chief Economist at CoreLogic, explains that some of those sellers may have pulled their listings late last year with the goal of trying again this spring: “Another reason for a step back could be that sellers wanted to wait and see how spring home buying season goes, and if mortgage rates fall, which would bring more home buyers and competition back in the market.”That’s because spring is when buyer demand is typically at its highest point for the year. More people start their home search once the weather warms up. They’re eager to close on a home so they can move in during the summer. So, it’s a great window for sellers. It means more buyers.And while mortgage rates haven’t fallen dramatically, they have come down some in recent weeks. Early signs already show buyers are becoming more active as a result. Since January, demand has picked up – and that should continue as spring draws even closer.What To Do Differently This TimeStart by checking the status of your listing agreement. Because even if you pulled your listing, you may still be under contract. And until your listing expires, your agent or brokerage is your best resource on what else you could try to get it sold. Realtor.com offers this advice:“If you aren't sure of the status of your listing, whether active, expired, or withdrawn, take a look at your listing agreement and talk to your real estate agent.”If your contract is still active, now’s the perfect time to reconnect with your agent to explore strategies to get your home sold this time around. If your contract has since expired and you’re considering other options, reach out to a trusted real estate professional who can help you figure out where to go from here.Either way, take some time to reflect on your last experience. What held you back from getting it sold before? And what can you do to improve your chances this time around? Be sure to include your current agent in this thought process. They’ll give you an objective point of view and some advice based on what may have gone wrong last time, like: Your Pricing Strategy: Did buyers overlook your house because it was priced too high? Your real estate agent can help you analyze the latest sales in your area to make sure you’re hitting the right number. Believe it or not, you could actually be leaving money on the table by not pricing competitively. When it’s priced appropriately for the market, your opportunities for multiple offers and buyer competition increase.Your Marketing Approach: Was your home staged to look its best? Did you use a skilled photographer for your listing photos? Small tweaks can make a big difference in how buyers see your house. Something as simple as taking new photos now that it’s spring can help your house show better than it did in the winter listing.Offering Concessions: Were you willing to offer incentives to buyers? As the supply of homes for sale grows, more sellers are entertaining the idea of concessions or incentives to get the deal done. If you weren’t open to those conversations, that may have been a factor, too.Showings and Flexibility: Did you have limits on when buyers could see the home? If your house is accessible and available, you’ll likely get more offers. Bottom LineIf your house didn’t sell last year, spring may be your second chance. With buyer activity rising, it’s the perfect time to talk to an agent about coming back into the market with a fresh strategy. What do you want to do differently this time around? Talk to your agent to go over your options and make a plan.

KCM CrewMarch 17, 2025

Rising Inventory Means This Spring Could Be Your Moment

Want to know two reasons this spring might finally be your time to buy? Inventory has grown and sellers may be more willing to negotiate as a result. That means you’ve got more options and more power than buyers have had in years. Let’s break it down.1. You Have More Homes To Choose FromThe number of homes for sale this February was higher than it’s been in any of the past five Februarys – and that’s great news for your home search. The graph below uses the latest data from Realtor.com to show the supply of homes on the market has grown by 27.5% in just the last year:More choices for your search is a good thing – and experts also say that inventory is projected to continue rising this year, which is even better. It means it should be easier to find something that checks your most important boxes. But that’s not all this does for you. Danielle Hale, Chief Economist at Realtor.com, explains some of the other perks of more inventory, beyond just having more homes to consider:“Buyers will not only have more home options . . . but they are also likely to find somewhat lower asking prices and more time to make decisions – all buyer-friendly factors as we inch closer to the busy homebuying season.”2. You May Find Sellers Are Doing Price CutsNow that buyers have more options, some homes are sitting on the market a little longer – especially those that were priced too high from the start. And the result is more sellers are having to drop their prices to draw buyers back in. Just take a look at the numbers.According to Realtor.com, the number of listings with price reductions has gone up compared to the last few years (see graph below):This is a sign sellers are more willing to compromise today. If you look back to more normal years in the market (2017–2019), you’ll see that the number of price cuts happening today is much closer to what’s typical – and for most buyers, that’s a big relief.What does that mean for you? It could give you a better chance to negotiate – whether that’s on price, closing costs, or even repairs. While not every seller will adjust their price, more of them are willing to do it – giving you more leverage than buyers have in quite a while.Bottom LineIf you’ve been on the sidelines, waiting for the right time to buy, this spring could be the opening you’ve been hoping for.Of course, every market is different, and working with a local expert can help you work through your options. If you want to talk about what’s happening in your area or get started on your home search, connect with a local real estate agent.How does today’s rising inventory impact your homebuying plans?

KCM CrewMarch 14, 2025

What You Need To Know About Pre-Approval

Some HighlightsBefore you even start looking at homes, there’s something you should do first – and that’s get pre-approved for your mortgage.Pre-approval is when a lender checks your finances and decides how much you’re qualified to borrow for your home loan. This helps you determine your budget and makes your offer stand out for sellers.Connect with a trusted lender to get the process started.

KCM CrewMarch 13, 2025

Is the Housing Market Starting To Balance Out?

For years, sellers have had the upper hand in the housing market. With so few homes for sale and so many people who wanted to purchase them, buyers faced tough competition just to get an offer accepted. But now, inventory is rising, and things are starting to shift in many areas.So, is the market finally balancing out? And does that mean buyers will have it a bit easier now? Here’s what you need to know.What Makes It a Buyer’s Market or a Seller’s Market?It all comes down to how many homes are for sale in an area compared to how many buyers want to buy there. That’s what ultimately determines who has the most leverage.A Seller’s Market is when there are more buyers than homes available, so sellers hold the power. This leads to rising prices, multiple offers, and homes selling quickly – often above the asking price – because there isn’t enough to go around.A Buyer’s Market is when there are more homes than buyers. In this case, the tables turn. Sellers may have to offer concessions and incentives, or negotiate more to get a deal done. That’s because buyers have more choices and can take their time making decisions.You can see this play out over time using data from the National Association of Realtors (NAR) in the graph below:Where the Market Stands NowWhile it’s still a seller’s market in many places, buyers in certain locations have more leverage than they’ve had in years. And that’s thanks to how much inventory has grown lately. As Lance Lambert, Co-Founder of ResiClub, explains:"Among the nation’s 200 largest metro area housing markets, 41 markets ended January 2025 with more active homes for sale than they had in pre-pandemic January 2019. These are the places where homebuyers will be able to find the most leverage or market balance in 2025."Here’s a look at some of the strongest seller’s markets and buyer’s markets today, according to that research:Do you know how to adjust your plans based on who’s got the most negotiating power? Because an agent does. Clever strategies can make buying in a seller’s market easier – and vice versa. And that’s exactly why you need to hire a pro. A local real estate agent knows their market like the back of their hand. They’re super familiar with what the supply and demand balance looks like and how to help their clients get a deal done either way. So, as long as you have a skilled pro by your side, it doesn’t really matter if your town is on the list or not.With their expertise, you’ll be able to plan ahead and buy (or sell) no matter what the market looks like.Bottom LineWith inventory rising, the market may be starting to balance out – but it all depends on where you want to buy or sell.If you want to know who has the most leverage where you are, talk to a local real estate agent.

KCM CrewMarch 12, 2025

Buying Your First Home? It’s Okay To Feel Nervous

Buying your first home is exciting, but let’s be real – it can also feel overwhelming. It’s a big step, and with that comes plenty of questions. Am I making the right decision? Can I really afford this right now? Will I be able to make ends meet if I have unexpected repairs? What if I lose my job?Here’s the thing: every first-time homebuyer has these thoughts. The homebuying process has always been a mix of excitement and nerves, and that’s completely normal. Here's some information that can give you a bit of perspective, so you don’t have these concerns.Focus on What You Can ControlSince homeownership is new to you, you’re probably feeling like it’s hard to know what to budget for. And that can be a bit scary. You’ll have the mortgage, home insurance, and maintenance to think about – maybe even lawn care or homeowner’s association (HOA) fees. It’s easy to let the dollar signs be overwhelming. As Zillow says:“Buying a house is a big decision, and you might feel confused and indecisive as you assess your current financial situation and try to work through whether or not the timing is right. Making big life choices might come with some self-doubt, but crunching the numbers and thinking about what you want your life to look like will help guide you down the right path.”The important thing is to focus on what you can control. By partnering with a local agent and a trusted lender, you can get a clear understanding of what you can borrow for your home loan, what your monthly payment would be, and how your mortgage rate can impact it. And since that payment will likely be your biggest recurring expense, the key is to make sure the number works for you.Don’t Stress About RepairsThe maintenance and repairs? Those can be a little bit harder to anticipate. But don’t forget you’ll get an inspection during the homebuying process to give you a better look at the condition of your future house. And with your inspection report in hand, you’ll have a good idea of what needs work. This way, you can start saving up so that you’re ready if and when something breaks.But even then, if this is something that’s still really nagging at you, talk to your agent about asking the seller to throw in a home warranty. Those can cover repairs for some of the bigger systems in the house, like the HVAC, if they break within a specific time frame. While this isn’t a huge expense for the seller, the likelihood of a seller agreeing to one depends on what’s happening in your local market and how competitive it is right now.It’s Okay To Stretch – Just Not Too FarAnd remember, chances are that money will be a little tight – at least at first. And that’s kind of to be expected. A lot of times when someone buys their first home, they cut down on things like shopping and eating out for a while until they get a better idea of how their expenses will shake out in the new home.But if you’re crunching the numbers and you won't have enough money left for things like gas, food, etc. – it's a sign you’d be stretching yourself too far. The last thing you want is to take on a payment that’s too much to handle. But stretching a little? That’s different. That’s normal.Your Job Will Probably Change – And That’s OkayAnd don’t forget, you’ll likely earn more down the road, so that slight stretch now won’t seem so bad as time wears on. As you advance in your career, you’ll probably start to make more money too. So, as your paycheck grows, the payments will get easier. Renting is a short-term option – and it’s one you deserve to get out of. Buying a home is a long-term play.And just in case you’re worried about what happens if you do lose your job, you should know there are options, like forbearance, designed to help you temporarily pause payments on your home loan due to hardship.Bottom LineBuying your first home is a big decision, and it’s okay to feel a little nervous about it. But if you’re financially ready, don’t let fear keep you from moving forward. These emotions are normal, and great agents help their buyers get through them.What makes you nervous when you think about buying your first home?Connect with an agent so you have an expert on your side to explain everything along the way.

KCM CrewMarch 11, 2025

Mortgage Rates Hit Lowest Point So Far This Year

If you’ve been holding off on buying a home because of high mortgage rates, you might want to take another look at the market. That’s because mortgage rates have been trending down lately – and that gives you a chance to jump back in.Mortgage rates have been declining for seven straight weeks now, according to data from Freddie Mac. And the average weekly rate is now at the lowest level so far this year (see graph below):While that may not sound like a significant shift, it is noteworthy. Because the meaningful drop from over 7% to the mid-6’s can change your mindset when it comes to buying a home. Especially when the forecasts said we wouldn’t hit this number until roughly Q3 of this year (see graph below):Why Are Rates Coming Down?According to Joel Kan, VP and Deputy Chief Economist at the Mortgage Bankers Association (MBA), recent economic uncertainty is playing a role in pushing rates lower:"Mortgage rates declined last week on souring consumer sentiment regarding the economy and increasing uncertainty over the impact of new tariffs levied on imported goods into the U.S. Those factors resulted in the largest weekly decline in the 30-year fixed rate since November 2024."And the timing of this recent decline is great because it gives you a little bit of relief going into the spring market. Just remember, mortgage rates can be a quickly moving target, so you should expect some volatility going forward. But the window you have as they’re coming down right now might be the sweet spot for your purchasing power now.What Lower Rates Mean for Your Buying PowerEven small changes in rates can make a difference to your monthly payment. Here’s how the math shakes out. The chart below shows what a monthly payment (principal and interest) would look like on a $400K home loan if you purchased a house when rates were 7.04% back in mid-January (this year’s mortgage rate high), versus what it could look like if you buy a home now (see below):In just a matter of weeks, the anticipated payment on a $400K loan has come down by over $100 per month. That’s a significant savings. When you’re making a decision as big as buying a home, every bit counts.Just remember, shifts in the economy drove rates down faster than expected. But that can change, making rates volatile in the days and months ahead. So, if you’re waiting for rates to fall further before you buy, think hard about the current window of opportunity if you’re ready to act.Bottom LineMortgage rates have dipped, giving buyers a bit more immediate breathing room. If you’ve been waiting for rates to ease before jumping in, this could be your window.Would a lower monthly payment make buying a home feel more doable for you? Connect with an agent to break down the numbers and find out.

KCM CrewMarch 10, 2025

Should I Buy a Home Right Now? Experts Say Prices Are Only Going Up

At one point or another, you’ve probably heard someone say, “Yesterday was the best time to buy a home, but the next best time is today.”That’s because nationally, home values continue to rise. And with mortgage rates still stubbornly high and home prices going up, you may be holding out for prices to fall or trying to time the market for that perfect rate. But here’s the truth: waiting for the right moment could cost you in the long run.Home Prices Are Still Rising – Just at a More Normal PaceThe idea that prices will drop dramatically is wishful thinking in most markets. According to the Home Price Expectations Survey from Fannie Mae, industry analysts are saying prices are projected to keep rising through at least 2029.While we’re no longer seeing the steep spikes of previous years, experts project a steady and sustainable increase of around 3-4% per year, nationally. And the good news is, this is a much more normal pace – a welcome sign for hopeful buyers (see graph below):What This Means for YouWhile it’s tempting to wait it out for prices or mortgage rates to decline before you buy, here’s what you’ll need to consider if you do.Tomorrow’s home prices will be higher than today’s. The longer you wait, the more that purchase price will go up.Waiting for the perfect mortgage rate or a price drop may backfire. Even if rates dip slightly, rising home prices could still make waiting more expensive overall.Buying now means building equity sooner. Home values are rising, which means your investment starts growing as soon as you buy.Let’s put real numbers into this equation. If you purchase a $400,000 home today, based on these price forecasts, it’s expected to go up in value by more than $83,000 over the next five years. That’s some serious money back in your pocket instead of being left on the sidelines (see graph below):Why Aren’t Prices Dropping? It’s All About Supply and DemandEven though there are more homes for sale right now than there were at this time last year, or even last month, there still aren’t enough of them on the market for all the buyers who want to purchase them. And that puts continued upward pressure on prices. As Redfin puts it:"Prices will rise at a pace similar to that of the second half of 2024 because we don’t expect there to be enough new inventory to meet demand."While every market is different, most areas will continue to see moderate price growth. Some may level off a bit, but a major national drop? Not likely.Bottom LineTime in the Market Beats Timing the MarketIf you’re debating whether to buy now or wait, remember this: real estate rewards those who get in the market, not those who try to time it perfectly.Yes, today’s housing market has its challenges, but there are ways to make it work —exploring different neighborhoods, considering smaller condos or townhomes, asking your lender about alternative financing, or tapping into down payment assistance programs. The key is making a move when it makes sense for you rather than waiting for a perfect scenario that may never arrive.Want to take a look at what’s happening with prices in your local market? Whether you're ready to buy now or just exploring your options, reach out to a local agent so you have a plan in place that’ll set you up for success.

KCM CrewMarch 7, 2025

Do You Know What Your House Is Really Worth?

Some HighlightsOver the past 5 years, home prices have risen dramatically. If you own a home, that means your house may be worth a lot more than you think. Nationally, prices are up nearly 60% since 2019. And, if selling has been on your mind, you can use that bigger-than-expected return to power your next move.If you want to know how much your home is worth in today’s market, reach out to a local agent. The number may surprise you.

KCM CrewMarch 6, 2025

Is It a Good Time To Buy a Home?

Are you wondering what’s going on with home prices? Mortgage rates? Or asking yourself if it’s even a good time to buy a home? It’s a big decision—and you don’t have to do it alone. That’s where your trusted local RE/MAX® agent comes in.

KCM CrewMarch 6, 2025

Is It a Good Time To Buy a Home?

Are you wondering what’s going on with home prices? Mortgage rates? Or asking yourself if it’s even a good time to buy a home? It’s a big decision—and you don’t have to do it alone. That’s where your trusted local RE/MAX® agent comes in.

KCM CrewMarch 6, 2025

5 Spring Home Maintenance Tasks You Don’t Want To Forget

Spring is a season of renewal, and as a homeowner, it’s easy to get swept up in the day-to-day of life. But maintaining your home is an important part of protecting the long-term value of your investment.So, whether you own a house already or you’re planning to become a homeowner this year, here are five essential spring home maintenance tasks you don’t want to overlook. Save this as your helpful resource to come back to year after year.1. Clean Your GuttersWinter weather can leave behind debris, like leaves and twigs, clogging your gutters. If water can’t flow freely, it can lead to roof leaks or foundation damage. Hiring a professional to take on the height of this job is probably best, but if you’re an ace on a sturdy ladder, this may be your thing. Either way, keeping them clean and clear is a must.2. Wash Your Windows and ScreensSpring is the perfect time to let the sunlight in – but dirty windows can dull the view. Remove and wash your window screens, then use a window cleaner or a vinegar-water mix to make your glass sparkle. It’s a simple job that can instantly brighten your home while also keeping dirt and build-up from settling in permanently.3. Service Your HVAC SystemSpring also means it’s time to schedule a tune-up for your heating, ventilation, and air conditioning system. A professional can clean and inspect your system, ensuring it’s ready to keep you cool during the summer months while also fixing any damage that may have occurred over the winter. When the summer weather heats up, you don’t want to be calling for an emergency issue that could have been prevented with regular maintenance.4. Rake and Clear Debris from Your YardAfter a long winter, your yard likely needs a little TLC. Rake up leaves, sticks, and other debris to give your lawn room to flourish. Not only does this make your yard look tidy, but it also helps promote healthy grass growth for the warmer months ahead.5. Refresh Your Exterior Paint and CaulkingThis season is a great time to touch up your home’s exterior paint and check the caulking around windows and doors. This helps prevent water damage and keeps your home looking fresh and inviting.Bottom LineOwning a home is a rewarding journey, but it comes with responsibilities. By staying on top of these spring maintenance tasks, you can protect your investment and enjoy your home to the fullest. A little effort now goes a long way when it comes to keeping your home safe, efficient, and beautiful for years to come.Don’t let these essential tasks sit on the back burner. Your future self will thank you.What’s on your to-do list this season? I’ll make sure you hit all the homeowner must-do’s and connect you to some local pros I trust who can help get the jobs done.

KCM CrewMarch 6, 2025

Preapproval Is the Homebuying Step You Can’t Afford to Skip

There’s one essential step in the homebuying process you may not know a whole lot about, and that’s preapproval. Here’s a rundown on what it is and why it’s so important to take care of before you start looking at homes with your REMAX® agent.What Is Preapproval? Preapproval is like getting the green light from a lender. It gives you a sense of how much they’re willing to let you borrow for your home loan. To determine that number, a lender starts by looking at your financial history. Here are some of the documents they may ask you for during this process:W-2s and tax returnsPay stubs and bank statementsInvestment account statements (if applicable)History of where you’ve livedThe result? They’ll assess your financial situation, and you’ll get a preapproval letter showing what you can borrow. Keep in mind, any changes to your finances can affect your preapproval status. So, after you receive your letter, avoid switching jobs, applying for new credit cards or other loans, co-signing for loans or taking money from your savings.How It Helps You Determine Your Borrowing PowerThis year, home prices are expected to rise moderately in most markets, and mortgage rates are stabilizing, but still volatile. And since affordability continues to be tight, it’s a good idea to talk to a lender about your home loan options and how today’s changing mortgage rates will impact your monthly payment.The preapproval process is the perfect time for that discussion. Since it determines the maximum amount you can borrow, preapproval also helps you figure out your budget. And keep in mind, you may get approved for more than you feel comfortable borrowing, so use this time to decide what you can afford in your monthly mortgage payment as you factor in taxes, insurance and other costs you will incur as a homeowner. Once you know what works for you financially, partner with your REMAX agent to tailor your search to homes that match your budget. That way, you don’t fall in love with a house that’s realistically outside of your comfort zone.How It Helps You Stand OutOnce you find a home you want to put an offer on, preapproval has another big perk. It not only makes your offer stronger, it shows sellers you’ve already undergone a credit and financial check. So, when a seller sees you’re preapproved, they view you as a much more serious buyer and may be more attracted to your offer because it is more likely to go through. And for a seller who is ready to close a deal, an offer that’s backed by preapproval makes a big difference.As Greg McBride, Chief Financial Analyst at Bankrate, says: “Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements. A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount.”Bottom LineIf you’re planning on buying a home, getting preapproved for a mortgage should be one of the first things on your to-do list. Not only will it give you a better understanding of your borrowing power, it’ll put you in the best position possible to make a strong offer when you find a home you love.Do you know what else you need to do to make sure you’re ready to buy? Reach out, and I’ll make sure you don’t skip any of the key homebuying steps.

KCM CrewMarch 6, 2025

Pre-Approval Is the Homebuying Step You Can’t Afford To Skip

There’s one essential step in the homebuying process you may not know a whole lot about, and that’s pre-approval. Here’s a rundown on what it is and why it’s so important to take care of before you start looking at homes with your RE/MAX® agent. What Is Pre-Approval?Pre-approval is like getting the green light from a lender. It gives you a sense of how much they’re willing to let you borrow for your home loan. To determine that number, a lender starts by looking at your financial history. Here are some of the documents they may ask you for during this process:W-2s and tax returnsPay stubs and bank statementsInvestment account statements (if applicable)History of where you’ve lived The result? They’ll assess your financial situation, and you’ll get a pre-approval letter showing what you can borrow. Keep in mind, any changes to your finances can affect your pre-approval status. So, after you receive your letter, avoid switching jobs, applying for new credit cards or other loans, co-signing for loans, or taking money from your savings.How It Helps You Determine Your Borrowing PowerThis year, home prices are expected to rise moderately in most markets, and mortgage rates are stabilizing, but still volatile. And since affordability continues to be tight, it’s a good idea to talk to a lender about your home loan options and how today’s changing mortgage rates will impact your monthly payment.The pre-approval process is the perfect time for that discussion. Since it determines the maximum amount you can borrow, pre-approval also helps you figure out your budget. And keep in mind, you may get approved for more than you feel comfortable borrowing, so use this time to decide what you can afford in your monthly mortgage payment as you factor in taxes, insurance, and other costs you will incur as a homeowner. Once you know what works for you financially, partner with your RE/MAX® agent to tailor your search to homes that match your budget. That way, you don’t fall in love with a house that’s realistically outside of your comfort zone.How It Helps You Stand Out Once you find a home you want to put an offer on, pre-approval has another big perk. It not only makes your offer stronger, it shows sellers you’ve already undergone a credit and financial check. So, when a seller sees you’re pre-approved, they view you as a much more serious buyer and may be more attracted to your offer because it is more likely to go through. And for a seller who is ready to close a deal, an offer that’s backed by pre-approval makes a big difference. As Greg McBride, Chief Financial Analyst at Bankrate, says:“Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements. A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount.”Bottom LineIf you’re planning on buying a home, getting pre-approved for a mortgage should be one of the first things on your to-do list. Not only will it give you a better understanding of your borrowing power, it’ll put you in the best position possible to make a strong offer when you find a home you love.Do you know what else you need to do to make sure you’re ready to buy? Reach out, and I’ll make sure you don’t skip any of the key homebuying steps.

KCM CrewMarch 6, 2025

We Are Testing Production Newsletter

After several years of rising home prices and volatile mortgage rates, it looks like the housing market will start to head in a more normal direction in 2025 – at least according to the latest forecasts. And if you’ve been thinking about making a move, that means the uncertainty that could’ve been throwing off your plans may be coming to a close. Here’s a look at the latest expert forecasts on two of the biggest factors expected to shape the market in the year ahead. Will Mortgage Rates Come Down? Everyone’s keeping an eye on mortgage rates, and they’re projected to settle in the mid-6% range by the end of the year (see chart below):But remember, rate projections will continue to shift as new information becomes available. Expert forecasts are based on what they know right now. If there’s increasing uncertainty around inflation, employment, government policies, or other key economic drivers, mortgage rates will move. So, don’t get caught up in the exact numbers or try to time the market. Instead, focus on the fact that a bit more stability in rates isn’t a bad thing – and even a small change can help your bottom line. A trusted lender and your RE/MAX® agent will make sure you always have the latest data and the context to understand what it really means for you and your monthly payment. Will Home Prices Fall? The short answer? Not likely. Home prices are projected to keep rising in most areas – just at a slower, more normal pace. If you average the expert forecasts together, you’ll see prices are expected to go up by about 2.7%, with the majority of the projections hitting somewhere in the 3 to 4% range by the end of the year. And that’s a much more typical and sustainable rise (see graph below):So, don’t expect a sudden drop that’ll score you a big deal if you’re thinking of buying this year. While that may sound disappointing if you’re hoping prices will come down, refocus on this. It means you won’t have to deal with the steep increases the market felt in recent years, and you’ll also likely see any home you do buy go up in value after you get the keys in hand. And that’s a good thing.Prices normalizing is a welcome sign after years of unsustainable home price growth. It means we’re moving into a healthier market. And that’s something we haven’t been able to say in a while.And if you’re wondering how it’s even possible prices are still rising, here’s your answer. It all comes down to supply and demand. Even though there are more homes for sale now than there were just a year ago, there still aren’t enough houses on the market to keep up with all the buyers out there.Keep in mind, though, the housing market is hyper-local. So, this will vary by area. Some markets will see even higher price appreciation. And some may see prices level off or even dip slightly. In most markets though, prices will continue to rise (as they usually do).If you want to find out what’s happening where we live, you need to lean on your local RE/MAX® agent who can explain the latest trends and what they mean for your plans.Bottom LineThe housing market is shifting, and the experts say 2025 will move toward a more normal, healthier pace for the year. With rates stabilizing and home prices rising at a more typical and sustainable rate, it’s all about staying informed and making a plan that works for you. What mortgage rate are you waiting for to make your move? Tell me your number, and I’ll show you how the math works out for your monthly mortgage payment. It may be more attainable this spring than you think.

KCM CrewMarch 6, 2025

Why the Average Homeowner Has $319K in Equity

If you already own a home, have you ever stopped to think about how much wealth you’ve built up just from being a homeowner? As home values rise, so does your net worth. And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize. What Is Home Equity? Home equity is the difference between what your house is worth and what you owe on your mortgage. For example, if your house is worth $500,000 and you still owe $200,000 on your home loan, you have $300,000 in equity. It’s essentially the wealth you’ve built through homeownership. Right now, homeowners across the country are seeing near-record amounts of equity.According to the Intercontinental Exchange (ICE), the average homeowner with a mortgage has $319,000 in home equity.Why Have Homeowners Gained So Much Equity?The rise in equity can be credited to two key factors:1. Significant Home Price GrowthHome prices have climbed dramatically in recent years. In fact, according to the Federal Housing Finance Agency (FHFA), over the past five years, home prices nationwide have risen by 57.1% (see map below):This appreciation means your house is likely worth much more now than when you first bought it.2. Longer Tenure in HomesData from the National Association of Realtors (NAR) also shows people are staying in their homes longer than they used to, with the average tenure now being close to 10 years (see graph below):This increase means homeowners are benefiting even more from home values growing over time as they’re paying down their mortgages. That’s because the longer someone lives in their house, the more that home value grows, which directly increases equity.And if you’re one of those people who’s been in their home for 10 years or more, know this – according to NAR:“Over the past decade, the typical homeowner has accumulated $201,600 in wealth solely from price appreciation.”The Benefits of Having Home EquityWhat does this mean for you? Your house might be your biggest financial asset – and it could open some exciting opportunities for your future. Let’s break it down. Moving to Your Next HomeYour equity could help you cover the down payment for your next home. In some cases, it might even mean you can buy your next house in all cash, especially if you’re looking to downsize or move to a less expensive area.Financing Home ImprovementsThinking about upgrading your kitchen, adding a garage, or tackling other key projects? If you do it right, your equity can provide the funds to make those improvements happen, increasing the value of your home and making it more enjoyable to live in, too.Starting a BusinessIf you’ve been dreaming about starting your own business, your equity could be the kickstart you need to make it happen. Whether it’s for startup costs, equipment, or marketing, leveraging your home’s value can help bring your entrepreneurial goals to life while driving your long-term earning potential forward. Fueling Your RetirementYour home equity could be the key to funding your next chapter, too. By downsizing or moving to a more affordable area, you can unlock cash to support your retirement goals or invest in the lifestyle you’ve been hoping for – all while simplifying your living situation.Bottom LineWhether you’re thinking about selling, upgrading, or simply want to understand your options, your home equity is a powerful resource – and your trusted RE/MAX® agent can help you understand exactly what you’re working with.Want to find out how much your home is worth? Send me a quick reply, and I’ll do a professional assessment for you. The real number may surprise you.

KCM CrewMarch 6, 2025

The Latest Expert Forecasts for the 2025 Housing Market

After several years of rising home prices and volatile mortgage rates, it looks like the housing market will start to head in a more normal direction in 2025 – at least according to the latest forecasts. And if you’ve been thinking about making a move, that means the uncertainty that could’ve been throwing off your plans may be coming to a close. Here’s a look at the latest expert forecasts on two of the biggest factors expected to shape the market in the year ahead. Will Mortgage Rates Come Down? Everyone’s keeping an eye on mortgage rates, and they’re projected to settle in the mid-6% range by the end of the year (see chart below):But remember, rate projections will continue to shift as new information becomes available. Expert forecasts are based on what they know right now. If there’s increasing uncertainty around inflation, employment, government policies, or other key economic drivers, mortgage rates will move. So, don’t get caught up in the exact numbers or try to time the market. Instead, focus on the fact that a bit more stability in rates isn’t a bad thing – and even a small change can help your bottom line. A trusted lender and your RE/MAX® agent will make sure you always have the latest data and the context to understand what it really means for you and your monthly payment. Will Home Prices Fall? The short answer? Not likely. Home prices are projected to keep rising in most areas – just at a slower, more normal pace. If you average the expert forecasts together, you’ll see prices are expected to go up by about 2.7%, with the majority of the projections hitting somewhere in the 3 to 4% range by the end of the year. And that’s a much more typical and sustainable rise (see graph below):So, don’t expect a sudden drop that’ll score you a big deal if you’re thinking of buying this year. While that may sound disappointing if you’re hoping prices will come down, refocus on this. It means you won’t have to deal with the steep increases the market felt in recent years, and you’ll also likely see any home you do buy go up in value after you get the keys in hand. And that’s a good thing.Prices normalizing is a welcome sign after years of unsustainable home price growth. It means we’re moving into a healthier market. And that’s something we haven’t been able to say in a while.And if you’re wondering how it’s even possible prices are still rising, here’s your answer. It all comes down to supply and demand. Even though there are more homes for sale now than there were just a year ago, there still aren’t enough houses on the market to keep up with all the buyers out there.Keep in mind, though, the housing market is hyper-local. So, this will vary by area. Some markets will see even higher price appreciation. And some may see prices level off or even dip slightly. In most markets though, prices will continue to rise (as they usually do).If you want to find out what’s happening where we live, you need to lean on your local RE/MAX® agent who can explain the latest trends and what they mean for your plans.Bottom LineThe housing market is shifting, and the experts say 2025 will move toward a more normal, healthier pace for the year. With rates stabilizing and home prices rising at a more typical and sustainable rate, it’s all about staying informed and making a plan that works for you. What mortgage rate are you waiting for to make your move? Tell me your number, and I’ll show you how the math works out for your monthly mortgage payment. It may be more attainable this spring than you think.

KCM CrewMarch 6, 2025

Headed Back Into the Office? You May Decide To Move

It’s no secret that remote work has surged over the last few years. And that flexibility gave a lot of people the freedom to move — and work — from wherever they wanted.But now, a growing number of companies are requiring employees to return to the office. And that’s leading some people to make decisions about where they live and if they need to move.How Return-to-Work Policies Are Impacting Housing During the rise of remote work, a lot of employees took the opportunity to move away from expensive or crowded city centers. Some opted for suburban neighborhoods and larger homes with yards, while others relocated to more rural areas. But lately, more people are returning to the city.And according to data from Bright MLS, more than half of workers surveyed would have to rethink where they live or deal with long drive times if their job enforced a return-to-office policy (see chart below):And maybe you’re one of them. If you moved farther out of the city during the work-from-home era, you may be facing a longer commute that you never expected to make daily. Once you've done it a few times, you might find it’s something you can get used to and isn’t as bad as you may have thought.But sometimes, it’s just too hard to make it work — no matter how much you try. A drive or train ride that seemed fine once or twice a week can feel like too much of a grind five days in a row. It may also cost too much to commute so often, take too long, or cut too far into your free time. As Lisa Sturtevant, Chief Economist at Bright MLS, notes:“During the pandemic, when remote work became the norm, homebuyers were able to move farther out . . . But workers do not have the same flexibility that they used to, and some are going to have to make a tough choice if and when their employer calls them back into the office full-time.”If you’re thinking you may want to move, don’t stress. Talking to an agent can help you weigh your options. Whether it’s finding a home closer to work, balancing commute time with affordability, or even selling a home in one area to buy in another, having a pro on your side makes the process easier.Bottom LineIf having to be back in-office has you considering a move, an agent can help you figure out what’s possible and what makes sense for you.Where do you see yourself living if your commute or work routine needs to change?

KCM CrewMarch 5, 2025

Why a Pre-Listing Inspection May Be Worth It in Today’s Market

Selling a house comes with a lot of moving pieces, and the last thing you want is a deal falling apart over unexpected repairs uncovered during the buyer’s inspection. That’s why it pays to anticipate potential issues before buyers ever step through the door. And one way to do that is with a pre-listing inspection.What Is a Pre-Listing Inspection? A pre-listing inspection is essentially a professional home inspection you schedule before putting your house on the market. Just like the inspections your buyer will do after making an offer, this process identifies any issues with the condition of your house that could have an impact on the sale – like structural problems, faulty or outdated HVAC systems, or other essential repairs.While it’s a great option if you’re someone who really doesn’t like surprises, Bankrate explains this may not make sense for all sellers:“While it can be beneficial for a seller to do, a pre-listing inspection isn’t always necessary. For example, if your home is relatively new and you’ve been the only owner, you’re most likely already aware of any big issues that could impact a sale. But for an older home, a pre-listing inspection can be very insightful and help you get ahead of any potential problems.”The key is deciding whether the benefits outweigh the costs for your situation. Sometimes a few hundred dollars now can get you information that’ll save you a lot of time and hassle later on.Why It May Be Worth Considering in Today’s MarketRight now, buyers are more cautious about how much money they’re spending. And they want to be sure the home they’re buying is worth the expense. In a market like this, a pre-listing inspection can be your secret weapon to make sure your house shows well. Here are just a few ways it can help:Gives You Time To Make Repairs: When you know about issues ahead of time, it gives you the chance to fix them on your schedule, rather than rushing to make repairs when you’re under contract.Avoid Surprises During Negotiations: When buyers discover issues during their own inspection, it can lead to last-minute negotiations, price reductions, or even a deal falling through. A pre-listing inspection gives you a chance to spot and address any problems ahead of time, so they don’t turn into last-minute headaches or negotiation roadblocks.Sell Your House Faster: According to Rocket Mortgage, if your house is listed in the best shape possible, there won’t be as many reasons for buyers to ask for concessions. That means you should be able to cut down on negotiation timelines and ultimately sell faster.How Your Agent Will HelpBut before you think about reaching out to any inspectors to get something scheduled, be sure to talk to an agent. Your agent will be able to give you advice on whether a pre-inspection is worthwhile for your house and the local market. Because it may not be as important if sellers still have the majority of the negotiation power where you live.If your agent does recommend moving forward and getting one done, here’s how they’ll support you throughout the process.Offer Advice on How To Prioritize Repairs: If the inspection uncovers problems, your agent will sit down with you and offer perspective on what’s going to be a sticking point for buyers so you know what to prioritize.Knowledge of How To Handle Any Disclosure Requirements: After talking to your agent, you may decide not all of the repairs are worth it right now. Just be ready to disclose what you’re not tackling. Some states require disclosures as a part of a listing – lean on your agent for more information. Bottom LineWhile they’re definitely not required, pre-listing inspections can be especially helpful in today’s market. By understanding your home’s condition ahead of time, you can take control of the process and make informed decisions about what to fix before you list and what to disclose.If you choose to skip this step, you may be just as surprised as your buyer by what pops up in their inspection. And that could leave you scrambling. Would you rather fix issues now or risk trying to save the deal later? Connect with a local agent to see if this is a step that makes sense in your market.

KCM CrewMarch 4, 2025

More Buyers Are Making Moves — Is It Time To Sell?

More people are taking steps to buy a home. And, if you’ve been waiting for the right time to move, this may be the sign you’ve been looking for.For the past few years, a lot of would-be homebuyers hit pause on their plans. With rising mortgage rates and affordability challenges, buying just didn’t seem doable. But now, more of them are getting back out there. That’s because they’re getting used to the fact that this may be the new normal for the market – especially as forecasts show mortgage rates may be starting to stabilize. According to the National Association of Realtors (NAR): "Home buyers seem to be getting over the shock of mortgage rates in the mid- to upper-6% range." And that’s good for you and your plans to sell. While there isn’t going to be a big rush of buyers flooding the market all at once, this does mean motivated buyers are re-starting their searches. And here’s the data to prove it.3 Signs Buyers Are Ready To Make Their Move1. Mortgage Applications Are on the Rise: According to the Mortgage Bankers Association (MBA), mortgage applications are up 37% since the start of the year. That’s a big jump and a clear sign more buyers are more active lately. Don’t miss out on that. Serious buyers who are getting their finances in order are great potential buyers for your house.2. Buyer Demand Is Picking Up: The Homebuyer Demand Index from Redfin shows demand is up 3% since late January. While that’s not a huge spike, momentum is building.3. More Home Showings: ShowingTime data says home showings are up 13% since the beginning of the year. This added foot traffic is exactly what you want to see if you’re about to sell your house. It signals more serious interest in buying. More buyers out there looking means more potential eyes on your house. And more eyes could translate to more offers.And chances are, this activity is only going to pick up from here. We’re headed into the busiest season of the year for housing. Spring is when more people choose to buy or sell than any other time of year. So, now is a great time to list and get in on the action.Bottom LineAs buyers re-enter the market, you have the chance to do the same thing. And the increase in buyer activity is definitely something you’ll want to take advantage of. To make sure your house gets in front of these motivated buyers, connect with a local agent.If the right buyer walked through your door tomorrow, would you be ready to sell?

KCM CrewMarch 3, 2025

Is a Newly Built Home Right for You? The Pros and Cons

When searching for a home, you don’t want to skip over new builds as an option. Right now, there are more newly built homes to choose from than there would normally be in the market. And those added choices come with some pretty incredible benefits. Talking to your agent is the best way to see if this type of home makes sense for you.Here’s a quick rundown of some things your agent will walk you through – including a few of the top perks of buying a newly built home today and some potential things you’ll want to think about before you ink any contracts.The Perks of Buying a Newly Built Home Customization Options: Many builders allow buyers to choose finishes, layouts, and upgrades so that you can personalize your home to your unique sense of style. This is obviously more of a draw if the home is still under construction, but sometimes you can have a builder agree to some tweaks even after it’s completed.Less Maintenance and Fewer Repairs: Everything from the roof to the appliances is brand new, which should save you on any upfront maintenance or repair costs — for at least the first few years. Many builders also offer warranties on things like structural components and major systems, to give you extra peace of mind. And not having to worry about this sort of thing is a big perk when everything feels so expensive right now.Eco-Friendly and Energy-Efficient Features: With stricter building codes, newly built homes tend to be more environmentally friendly. This can include energy-efficient upgrades like smart thermostats and high-efficiency HVAC systems or eco-friendly tech. And all of these features can save you money on your future energy bills – again a welcome relief while inflation is stubbornly high.Builder Incentives: Some builders are also offering incentives to homebuyers. While this will vary by builder, it could include rate buy-downs or other ways to offset today’s affordability challenges. As Bankrate says: “Some builders offer financial incentives, including flexible financing options, to encourage buyers to purchase. These incentives — especially if they get the buyer a lower interest rate — could make a new-construction home more affordable in the long run.”Other Considerations When Buying a Newly Built HomeOn the other side of the coin, there are some things that you’ll want to at least consider before making your choice.Longer Timelines: If you’re purchasing a home that’s still under construction, you may have to wait several months — or longer — before you can move in. As Realtor.com puts it:“For homebuyers who have a short time frame to move into a new home, buying new construction could be challenging if the house isn’t built yet. This is not always the case, since a community may have some quick move-in homes or spec homes that are already complete (or nearly so) and ready for a buyer to move in. But if not, a buyer may have to wait.”Potential Price Changes: Keep an eye on costs, too. It’s easy to go over budget if you keep tacking on upgrades or add-ons as you customize your build. At the same time, building materials, like lumber, can be affected by the economy, inflation, and changing trade policies. And unfortunately, if the cost of supplies climbs, builders will pass at least some of that increase on to people like you. As HousingWire explains:“Upgrades and add-ons, unforeseen delays due to weather, supply chain issues or labor shortages, and expenses like landscaping and fencing not included in the builder’s cost can significantly affect the final price.”Bottom LineNew builds can be a great choice today, but you want to be sure you have all the information you need to make an informed decision on such a big purchase. To weigh the pros and cons, connect with a local agent.Would you consider a newly built home? Why or why not?

KCM CrewFebruary 28, 2025

Is It Better To Rent or Buy a Home Today?

Some HighlightsA study shows that 70% of prospective buyers fear the long-term consequences of renting. And here’s why.Rent usually rises over time and that can make it harder to save up to buy a home. But when you buy, you can stabilize your housing expenses and grow your net worth as home values rise. While renting may be the less expensive option in some markets, it can’t match the long-term benefits of homeownership. What’s your #1 reason for wanting to buy?

KCM CrewFebruary 27, 2025

Do You Know How Much Your Home Is Worth?

Over the past few years, you’ve probably seen a whole lot of headlines about how home prices keep going up. But have you ever stopped to think about what that actually means for your home?Home prices have risen dramatically over the past five years — far more than usual. And if selling has been on your mind, this could mean a bigger-than-expected payday when you list. So, how much has your home’s value really changed? Let’s break it down.The Rapid Rise of the Past 5 YearsTypically, home prices go up by about 2-5% a year. But in 2021-2022, there were double-digit increases. And at the peak, prices rose by a staggering 20% or more nationally. Why? There were way more buyers than homes available, which sent prices soaring. While things have normalized since then, you still get to reap the benefits of those massive increases.Your house has gained way more value than it normally would in such a short period of time – and that means a lot more wealth for you, too. The map below uses data from the Federal Housing Finance Agency (FHFA) to show that, nationally, prices have gone up by nearly 60% in just the past 5 years alone. Here’s a breakdown that takes that one step further and gives you the numbers by state:If you’ve been holding off on selling because you were worried about buying your next home at today’s rates and prices, let that sink in. It may be more than enough to help close the affordability gap and get you into your next house.And what if you’ve been there for longer? That means your home’s value is probably even higher now. You get to stack the abnormal gains of the past 5 years on top of five years of more normal appreciation too. And an agent can help you figure out what that really looks like.How To Find Out What Your House Is Really WorthWhile a percentage is great, you probably want more specific numbers. The only way to get an accurate look at what your house is really worth is to talk to a local real estate agent. While the map above gives you the average appreciation rate by state, it doesn’t take your local market into consideration. Like, is inventory still low where you live? That may drive prices higher, and faster. Or maybe you’ve done renovation that’ll add even more value to your house. Those are insights you’ll need an agent to provide.An agent will know what’s happening where you live and can stack that up against the data and the condition of your home to give you the best estimate of its value possible. Only they have the data and expertise to find out your real number today.Bottom LineHome values have climbed — maybe more than you expected. Are you curious about what your house is worth in today’s market? Connect with an agent so you can find out.

KCM CrewFebruary 26, 2025

Is an Accessory Dwelling Unit Right for You? Here’s What To Know

Are you having a hard time finding the right home in your budget? Or maybe you already own a home but could use some extra income or a designated space for aging loved ones. Either way, accessory dwelling units (ADUs) could be the smart solution you’ve been looking for in today’s market.What Is an ADU?According to Fannie Mae, an ADU is a small, separate living space that’s on the same lot as a single-family home. It must include its own areas for living, sleeping, cooking, and bathrooms independent of the main house. And they can take shape in a few different ways. Fannie Mae adds, an ADU can be:Within a main home, such as a basement apartmentAttached to a main home, such as a living area over a garageDetached from the home entirely; it could even be a manufactured homeThe Benefits of ADUsADUs are growing in popularity as more people discover why they’re so practical. In fact, a recent survey shows that 24% of agents say an ADU, such as a mother-in-law house, is one of the most desired features buyers are looking for right now. The growing appeal makes sense. With rising costs all around you, an ADU can help supplement your income and ease some of the strain on your wallet. Whether you buy a home that has one already or you add one on, it gives you the option to rent out that portion of your home to help pay your mortgage.Here are some of the other top benefits of ADUs, according to Freddie Mac and the AARP:Living Close, But Still Separate: You get the best of both worlds — more quality time together, plus privacy when you want it. If that sounds like a win, it might be worth looking for a home with an ADU or adding one to your home.Aging in Place: Similarly, ADUs allow older people to be close to loved ones who can help them if they need it as they age. It’s a sweet spot that offers independence and support from loved ones. For example, if your parents are getting older and you want them nearby, this could be a great option for you.Built-In Childcare: If your family’s living in the ADU, you may be able to use them for childcare, which can also be a big cost savings. Plus, it gives your kids more time with their grandparents.It’s worth noting that since an ADU exists on a single-family lot as a secondary dwelling, it typically can’t be sold separately from the primary residence. And while that’s changing in some states, regulations vary by location. So, connect with a local real estate expert for the most up-to-date guidance.Bottom LineIn today’s market, buying a home with an ADU or adding one to your current house could be worth considering. Just be sure to talk with a real estate agent who can explain local codes and regulations for this type of housing and what’s available in your area.What’s your motivation for exploring ADUs?

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Bridget DuMont

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