tag:blogger.com,1999:blog-19444205934590132862024-03-19T04:14:09.453-07:00The Foley ReportReal Estate Resource, everything Willow Glen and Surrounding Communities,community interest articles, lifestyle, local events, gardening and garden trends, and quality of living in the charming neighborhoods of San Jose. Cambrian, Campbell, Santa Clara, Naglee Park, Rosegarden, Downtown. Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.comBlogger70125tag:blogger.com,1999:blog-1944420593459013286.post-3260150494737643012023-06-13T11:22:00.005-07:002023-06-13T11:22:53.259-07:00What Has Changed in Your Life? <p> </p><h3>Your Needs Matter More Than Today’s Mortgage Rates</h3><br /><img src="https://files.keepingcurrentmatters.com/content/images/20230612/20230613-your-needs-matter-more-than-todays-mortgage-rates.jpg" width="600" /><br /><br /><p>If you’re thinking about <a href="https://www.simplifyingthemarket.com/en/2023/05/25/the-benefits-of-selling-now-according-to-experts/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: blue;" target="_blank">selling your house</a> right now, chances are it’s because something in your life has changed. And, while things like <a href="https://www.simplifyingthemarket.com/en/2023/06/07/the-main-reason-mortgage-rates-are-so-high/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: blue;" target="_blank">mortgage rates</a> are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.</p><p>It’s true <a href="https://www.simplifyingthemarket.com/en/2023/05/19/the-impact-of-changing-mortgage-rates-infographic/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: blue;" target="_blank">mortgage rates</a> have climbed from the record lows we saw in recent years, and that has an impact on <a href="https://www.simplifyingthemarket.com/en/2023/04/26/the-three-factors-affecting-home-affordability-today/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: blue;" target="_blank">affordability</a>. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home. As Danielle Hale, Chief Economist at <em>Realtor.com</em>, <a href="https://news.move.com/2023-04-17-Realtor-com-R-Survey-82-of-Those-Looking-to-Buy-and-Sell-a-Home-Feel-Locked-In-by-Low-Mortgage-Rate" rel="noopener noreferrer" style="color: blue;" target="_blank">explains</a>:</p><blockquote><em>“. . . homeowners who locked in a 30-year fixed rate in the 2-3% range don't necessarily want to give that up in exchange for a rate in the 6-7% range.”</em></blockquote><p>But your lifestyle and your changing needs should matter more. Here are a few of the most common reasons people <a href="https://www.simplifyingthemarket.com/en/2023/04/04/two-reasons-you-should-sell-your-house/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: blue;" target="_blank">choose to sell</a> today. Any one of these may be more important than keeping your current mortgage rate.</p><p>As Ali Wolf, Chief Economist at <em>Zonda</em>, says in a <a href="https://twitter.com/AliWolfEcon/status/1664356987683893248?cxt=HHwWgMCz5Zb3_ZguAAAA" rel="noopener noreferrer" style="color: blue;" target="_blank">recent tweet</a>:</p><blockquote><em>“First-time and move-up buyers are both active . . . </em><strong><em>the latter driven by life changes. Divorce, marriage, new higher paid job, and existing home unsuitable all referenced</em></strong><em>.”</em> </blockquote><h5><strong>Relocation</strong></h5><p>Some of the things that can motivate a move to a new area include changing jobs, a desire to be closer to friends and loved ones, wanting to live in a dream location, or just looking for a change in scenery. </p><p>For example, if you live in suburbia and just landed your dream job in NYC, you may be thinking about selling your current home and moving to the city for work. </p><h5><strong>Upgrading</strong></h5><p>Many homeowners decide to sell to move into a larger home. This is especially common when there’s a need for more room to entertain, a home office or gym, or additional bedrooms to accommodate a growing number of loved ones.</p><p>For example, if you’re living in a condo and decide it’s time to seek out a home with more space, or if your household is growing, it may be time to find a home that better fits those needs. </p><h5><strong>Downsizing</strong></h5><p>With <a href="https://www.simplifyingthemarket.com/en/2023/05/24/owning-a-home-helps-protect-against-inflation/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: blue;" target="_blank">inflation</a> driving up everyday expenses, homeowners may also decide to sell to reduce maintenance and costs. Or, they may sell because someone’s moved out of the home recently and there’s now more space than needed. It could also be that they’ve recently retired or are ready for a change.</p><p>For example, you’ve just kicked off your retirement and you want to move to somewhere you can enjoy the warm weather and have less house to maintain. Your new lifestyle may be better suited for a different home. </p><h5><strong>Change in Relationship Status</strong></h5><p>Divorce, separation, or marriage are other common reasons individuals sell to buy different homes.</p><p>For example, if you’ve recently separated, it may be difficult to still live under one roof. Selling and downsizing may be better options.</p><h5><strong>Health Concerns</strong></h5><p>If a homeowner faces mobility challenges or health issues that require specific living arrangements or modifications, they might sell their current home to find one that works better for them.</p><p>For example, you may be looking to sell your home and use the proceeds to help pay for a unit in an assisted-living facility.<em> </em></p><p>With higher mortgage rates, there are some affordability challenges right now – but your needs and your lifestyle matter too. As a recent article from<em> Bankrate</em> <a href="https://www.bankrate.com/real-estate/should-i-sell-my-house-now-or-wait/#sell-now" rel="noopener noreferrer" style="color: blue;" target="_blank">says</a>:<strong><em> </em></strong></p><blockquote><em>“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market. . . . </em><strong><em>Your future plans and goals should be a significant part of the equation . . .</em></strong><em>”</em></blockquote><h3>Bottom Line</h3><p>If you’re ready to sell your house so you can make a move, let’s connect so you have an expert on your side to help you navigate the process and find a home that can deliver on what you’re looking for.</p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-40091195013970623842023-05-30T10:54:00.003-07:002023-05-30T10:54:57.542-07:00The "Unicorn" Markets are gone-Today's Real Estate Market<p> </p><h3>Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off</h3><br /><img src="https://files.keepingcurrentmatters.com/content/images/20230529/20230530-todays-real-estate-market-the-unicorns-have-galloped-off.jpg" width="600" /><br /><br /><p>Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. </p><p>Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common <a href="https://www.thefreedictionary.com/unicorn" rel="noopener noreferrer" style="color: blue;" target="_blank">definition</a> of the word:</p><blockquote><em>“Something that is greatly desired but difficult or impossible to find.”</em> </blockquote><p>The pandemic profoundly changed real estate over the last few years. The demand for a home of our own skyrocketed, and people needed a home office and big backyard. </p><ul><li>Waves of first-time and second-home buyers entered the market.</li><li>Already low mortgage rates were driven to historic lows. </li><li>The forbearance plan all but eliminated foreclosures.</li><li>Home values reached appreciation levels never seen before.</li></ul><p>It was a market that forever had been “<em>greatly desired but difficult or impossible to find.” </em>A ‘unicorn’ year.</p><p>Now, things are getting back to normal. The ‘unicorns’ have galloped off. </p><p>Comparing today’s market to those years makes no sense. Here are three examples: </p><h4><strong>Buyer Demand </strong></h4><p>If you look at the headlines, you’d think there aren’t any buyers out there. We still sell over 10,000 houses a day in the United States. Of course, buyer demand is down from the two ‘unicorn’ years. But, according to <a href="https://www.showingtime.com/showingtime-showing-index/" rel="noopener noreferrer" style="color: blue;" target="_blank"><em>ShowingTime</em></a>, if we compare it to normal years (2017-2019), we can see that buyer activity is still strong (<em>see graph below</em>):</p><p><a href="https://files.keepingcurrentmatters.com/content/images/20230529/20230530-showing-traffic-above-pre-unicorn-years.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20230529/20230530-showing-traffic-above-pre-unicorn-years.png" /></a></p><h4><strong>Home Prices</strong></h4><p>We can’t compare today’s home price increases to the last couple of years. According to <a href="https://www.freddiemac.com/research/indices/house-price-index" rel="noopener noreferrer" style="color: blue;" target="_blank"><em>Freddie Mac</em></a>, 2020 and 2021 each had historic appreciation numbers. Here’s a graph also showing the more normal years (2017-2019):</p><p><a href="https://files.keepingcurrentmatters.com/content/images/20230529/20230530-percent-of-annual-home-appreciation-returning-to-more-normal-pre-unicorn-years.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20230529/20230530-percent-of-annual-home-appreciation-returning-to-more-normal-pre-unicorn-years.png" /></a></p><p>We can see that we’re returning to more normal home value increases. There were several months of minimal depreciation in the second half of 2022. However, according to <a href="https://www.fanniemae.com/research-and-insights/surveys-indices/fannie-mae-home-price-index" rel="noopener noreferrer" style="color: blue;" target="_blank"><em>Fannie Mae</em></a>, the market has returned to more normal appreciation in the first quarter of this year.</p><h4><strong>Foreclosures </strong></h4><p>There have already been some startling headlines about the percentage increases in foreclosure filings. Of course, the percentages will be up. They are increases over historically low foreclosure rates. Here’s a graph with information from <a href="https://www.attomdata.com/news/category/market-trends/foreclosures/" rel="noopener noreferrer" style="color: blue;" target="_blank"><em>ATTOM</em></a>, a property data provider:</p><p><a href="https://files.keepingcurrentmatters.com/content/images/20230529/20230530-1m-fewer-foreclosures-during-unicorn-years.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20230529/20230530-1m-fewer-foreclosures-during-unicorn-years.png" /></a></p><p>There will be <a href="https://www.simplifyingthemarket.com/en/2023/04/27/why-todays-foreclosure-numbers-are-nothing-like-2008/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: blue;" target="_blank">an increase</a> over the numbers of the last three years now that the moratorium on foreclosures has ended. There are homeowners who lose their home to foreclosure every year, and it’s heartbreaking for those families. But, if we put the current numbers into perspective, we’ll realize that we’re actually going back to the normal filings from 2017-2019.</p><h3>Bottom Line</h3><p>There will be very unsettling headlines around the housing market this year. Most will come from inappropriate comparisons to the ‘unicorn’ years. Let’s connect so you have an expert on your side to help you keep everything in proper perspective.</p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com01712 Meridian Ave, San Jose, CA 95125, USA37.2922378 -121.91242048.9820039638211568 -157.0686704 65.602471636178848 -86.7561704tag:blogger.com,1999:blog-1944420593459013286.post-68618768493396268322023-05-13T10:53:00.003-07:002023-05-13T10:53:59.182-07:00Best Time to Sell? When Others Aren't Selling!<p> </p><h3>The Best Time To Sell Your House Is When Others Aren’t Selling</h3><br /><img src="https://files.keepingcurrentmatters.com/content/images/20230510/20230511-the-best-time-to-sell-your-house-is-when-others-arent-selling.jpg" width="600" /><br /><br /><p>If you’re thinking about <a href="https://www.simplifyingthemarket.com/en/2023/04/19/falling-out-of-love-with-your-house-it-may-be-time-to-move/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: #0563c1;" target="_blank">selling</a> your house, you should know the number of homes for sale right now is low. <strong>That’s because, this season, there are fewer sellers listing their houses for sale than the norm.</strong></p><p>Looking back at every <a href="https://www.realtor.com/research/data/" rel="noopener noreferrer" target="_blank">April</a> since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (<em>shown in red in the graph below</em>). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April (<em>see graph below</em>):</p><p><a href="https://files.keepingcurrentmatters.com/content/images/20230510/20230511-the-number-of-sellers-listing-their-homes-is-lower-than-the-norm.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20230510/20230511-the-number-of-sellers-listing-their-homes-is-lower-than-the-norm.png" /></a></p><p>While there are a number of factors contributing to this trend, one thing keeping inventory low right now is that some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get today on their next house. It’s called <em>rate lock</em>.</p><p>As a recent survey from <em>Realtor.com</em> <a href="https://news.move.com/2023-04-17-Realtor-com-R-Survey-82-of-Those-Looking-to-Buy-and-Sell-a-Home-Feel-Locked-In-by-Low-Mortgage-Rate" rel="noopener noreferrer" style="color: #0563c1;" target="_blank">explains</a><em>, </em>56% of people who are planning to sell in the next 12 months say they’re waiting for rates to come down.</p><p><strong>While this <em>wait-and-see </em>approach is right for some sellers, it also creates an opening for more eager sellers to jump in now.</strong></p><p>If your current house truly doesn’t fit your needs anymore and you’re ready to move, don’t miss this chance to <a href="https://www.simplifyingthemarket.com/en/2023/02/20/spring-into-action-boost-your-homes-curb-appeal-with-expert-guidance/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: #0563c1;" target="_blank">stand out</a>. When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That’s why your house could see <a href="https://www.simplifyingthemarket.com/en/2023/04/11/the-big-advantage-if-you-sell-this-spring/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: #0563c1;" target="_blank">multiple offers</a> as buyers compete over the limited supply of homes for sale – especially if you <a href="https://www.simplifyingthemarket.com/en/2023/04/13/want-to-sell-your-house-this-spring-price-it-right/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="color: #0563c1;" target="_blank">price it right</a>.</p><p>As Lawrence Yun, Chief Economist at the <em>National Association of Realtors </em>(NAR), <a href="https://themreport.com/news/data/03-21-2023/existing-home-sales" rel="noopener noreferrer" style="color: #0563c1;" target="_blank">says</a>:</p><p><br /></p><blockquote><em>“Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties."</em></blockquote><h3>Bottom Line</h3><p>If you’re ready to sell now, beat the competition before it comes onto the market. If you do, your house should stand out and could get multiple offers. Let's connect to get you market ready.</p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com01712 Meridian Ave, San Jose, CA 95125, USA37.2922378 -121.91242048.9820039638211568 -157.0686704 65.602471636178848 -86.7561704tag:blogger.com,1999:blog-1944420593459013286.post-19687772477692647422023-04-19T13:15:00.000-07:002023-04-19T13:15:12.907-07:00Saratoga Woods Beauty - Luxury Single Family Home<iframe style="background-image:url(https://i.ytimg.com/vi/_HL2gVrygH0/hqdefault.jpg)" width="480" height="270" src="https://youtube.com/embed/_HL2gVrygH0" frameborder="0"></iframe>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-51524506552129230032023-02-24T11:12:00.000-08:002023-02-24T11:12:09.861-08:00Selling in Spring? Here is your to-do list<h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">Checklist for Selling Your House This Spring [INFOGRAPHIC]</h3><img alt="Checklist for Selling Your House This Spring [INFOGRAPHIC] | MyKCM" class="attachment-entry size-entry wp-post-image" height="1974" loading="lazy" sizes="(max-width: 1046px) 100vw, 1046px" src="https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM-1046x1974.png" srcset="https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM-1046x1974.png 1046w, https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM-318x600.png 318w, https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM-543x1024.png 543w, https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM-768x1449.png 768w, https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM-814x1536.png 814w, https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM-1085x2048.png 1085w, https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM-100x189.png 100w, https://files.mykcm.com/2023/02/22133548/Checklist-For-Selling-This-Spring-MEM.png 1300w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="1046" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Some Highlights</strong></h3><ul style="box-sizing: border-box; margin: 0px 0px 1.5em 1.655em; outline: none !important; padding: 0px;"><li style="box-sizing: border-box; outline: none !important;">As you get ready to <a href="https://www.simplifyingthemarket.com/2023/02/06/the-top-reasons-for-selling-your-house/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="sell your house">sell your house</a>, there are specific things you can add to your <a href="https://www.simplifyingthemarket.com/2023/02/20/spring-into-action-boost-your-homes-curb-appeal-with-expert-guidance/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="to-do list">to-do list</a>.</li><li style="box-sizing: border-box; outline: none !important;">These include decluttering, taking down personal photos and items, and power washing outdoor surfaces.</li><li style="box-sizing: border-box; outline: none !important;">Let’s connect so you have advice on what you may want to do to get your house ready to <a href="https://www.simplifyingthemarket.com/2023/02/17/the-spring-housing-market-could-be-a-sweet-spot-for-sellers-infographic/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="sell this season">sell this season</a>.</li></ul></div><p> </p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-67366208579262232682023-02-07T11:34:00.000-08:002023-02-07T11:34:38.496-08:00Why Sell? It isn't always financial...<p> </p><h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">The Top Reasons for Selling Your House</h3><img alt="The Top Reasons for Selling Your House | MyKCM" class="attachment-entry size-entry wp-post-image" height="410" loading="lazy" sizes="(max-width: 750px) 100vw, 750px" src="https://files.mykcm.com/2023/02/02171326/the-top-reasons-for-selling-your-house-kcm.jpg" srcset="https://files.mykcm.com/2023/02/02171326/the-top-reasons-for-selling-your-house-kcm.jpg 750w, https://files.mykcm.com/2023/02/02171326/the-top-reasons-for-selling-your-house-kcm-600x328.jpg 600w, https://files.mykcm.com/2023/02/02171326/the-top-reasons-for-selling-your-house-kcm-100x55.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="750" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Today, <a href="https://blog.firstam.com/economics/why-housing-market-potential-increased-for-the-second-straight-month" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="93%">93%</a> of outstanding mortgages have a rate at or below 6%. That means a strong majority of homeowners with mortgages have a rate below what they’d get if they moved right now. But if you’re a homeowner in that position, remember that mortgage rates aren’t the only thing to consider when making a move. Your mortgage rate is important, but there are plenty of <a href="https://www.simplifyingthemarket.com/2023/01/12/is-it-time-to-sell-your-second-home/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="reasons">reasons</a> you may still need or want to move. <a href="https://www.realtrends.com/articles/15-predictions-to-help-you-plan-your-real-estate-business/?utm_campaign=Newsletter%20-%20RealTrends%20Daily%20Update&utm_medium=email&_hsmi=242803681&_hsenc=p2ANqtz--cgeSndq-bGP9pHDdzMaLYQzDYmTRBNTPj4HTxWlZvvqwyFWbY3LjDS8Un0xv50kKZdWj23iAj0m5-1VvPh2A9IFNzTwEjkv82QTcDm5ZDdRvaWE0&utm_content=242803681&utm_source=hs_email" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="RealTrends"><em style="box-sizing: border-box; outline: none !important;">RealTrends</em></a> explains:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“Sellers who don’t have to move won’t be moving. <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">The most common sellers will be: Homeowners downsizing . . . people moving to get more space, [households] looking for better schools…etc.</strong>”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">So, if you’re on the fence about selling your house, consider the other reasons homeowners are choosing to make a move. A recent report from the <em style="box-sizing: border-box; outline: none !important;">National Association of Realtors</em> (NAR) <a href="https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="breaks down">breaks down</a> why homeowners have decided to sell over the past year:</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><a href="https://files.mykcm.com/2023/02/02171323/homeowners-top-reasons-to-sell-MEM.png" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank"><img alt="The Top Reasons for Selling Your House | MyKCM" class="aligncenter wp-image-107234" height="450" src="https://files.mykcm.com/2023/02/02171323/homeowners-top-reasons-to-sell-MEM.png" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin: 0px auto 1.5em; max-width: 700px; outline: none !important; vertical-align: middle; width: 700px;" width="600" /></a></p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">As the visual shows, the most commonly cited reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becoming less desirable. Additionally, the need for more space factored in, as did a change in household structure.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">If you also find yourself wanting a change in location or needing space your current house just can’t provide, it may be time to sell.</strong></p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">What you want and need in a home can be reason enough to move. To find out what’s right for you, work with a trusted real estate professional who will offer <a href="https://www.simplifyingthemarket.com/2023/01/05/3-best-practices-for-selling-your-house-this-year/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="advice">advice</a> and expert guidance throughout the process. They’ll be able to lay out all your options – giving you what you need to make a confident decision.</p><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">When deciding whether or not to move, you have a lot to <a href="https://www.simplifyingthemarket.com/2023/01/10/the-truth-about-negative-home-equity-headlines/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="consider">consider</a>. There are plenty of non-financial reasons to factor in. Let’s connect today to weigh the benefits of selling your house.</p></div>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-2376472757022879542023-01-16T13:05:00.002-08:002023-01-16T13:05:00.163-08:00Get Ready, Set, Buy! Home Buying Goals 2023<p> </p><h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">Tips To Reach Your Homebuying Goals in 2023 [INFOGRAPHIC]</h3><img alt="Tips To Reach Your Homebuying Goals in 2023 [INFOGRAPHIC] | MyKCM" class="attachment-entry size-entry wp-post-image" height="2405" loading="lazy" sizes="(max-width: 1046px) 100vw, 1046px" src="https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM-1046x2405.png" srcset="https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM-1046x2405.png 1046w, https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM-261x600.png 261w, https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM-445x1024.png 445w, https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM-768x1766.png 768w, https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM-668x1536.png 668w, https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM-891x2048.png 891w, https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM-100x230.png 100w, https://files.mykcm.com/2023/01/05124509/Tips-To-Reach-Your-Homebuying-Goals-in-2023-MEM.png 1300w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="1046" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Some Highlights</strong></h3><ul style="box-sizing: border-box; margin: 0px 0px 1.5em 1.655em; outline: none !important; padding: 0px;"><li style="box-sizing: border-box; outline: none !important;">If you’re planning to <a href="https://www.simplifyingthemarket.com/2022/12/21/what-to-expect-from-the-housing-market-in-2023/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="buy a home">buy a home</a> in 2023, here are a few things to focus on.</li><li style="box-sizing: border-box; outline: none !important;">Work on <a href="https://www.nerdwallet.com/article/mortgages/home-buying-checklist-steps-to-buying-house" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="your credit">your credit</a> and save for a <a href="https://www.simplifyingthemarket.com/2023/01/03/wondering-how-much-you-need-to-save-for-a-down-payment/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="down payment">down payment</a>. If saving feels like a challenge, there’s <a href="https://downpaymentresource.com/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="help available">help available</a>. Then, get <a href="https://www.simplifyingthemarket.com/2022/12/26/financial-fundamentals-for-first-time-homebuyers/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="pre-approved">pre-approved</a>, create a list of desired features, and <a href="https://www.simplifyingthemarket.com/2022/12/05/prioritizing-your-wants-and-needs-as-a-homebuyer-in-todays-market/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="prioritize">prioritize</a> them.</li><li style="box-sizing: border-box; outline: none !important;">Let’s connect so you have expert advice on how to reach your <a href="https://www.simplifyingthemarket.com/2023/01/02/what-are-your-goals-in-the-housing-market-this-year/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="homebuying goals">homebuying goals</a> this year.</li></ul></div>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-33614643418648557992023-01-13T13:01:00.011-08:002023-01-13T13:01:00.167-08:002023 Housing Market-What Can We Expect? <p> </p><h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">What Experts Are Saying About the 2023 Housing Market</h3><img alt="What Experts Are Saying About the 2023 Housing Market | MyKCM" class="attachment-entry size-entry wp-post-image" height="315" loading="lazy" sizes="(max-width: 600px) 100vw, 600px" src="https://files.mykcm.com/2023/01/05132532/what-experts-are-saying-about-the-2023-housing-market-BB.jpg" srcset="https://files.mykcm.com/2023/01/05132532/what-experts-are-saying-about-the-2023-housing-market-BB.jpg 600w, https://files.mykcm.com/2023/01/05132532/what-experts-are-saying-about-the-2023-housing-market-BB-100x53.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="600" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">If you’re thinking about <a href="https://www.simplifyingthemarket.com/2023/01/02/what-are-your-goals-in-the-housing-market-this-year/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="buying or selling">buying or selling</a> a home soon, you probably want to know what you can expect from the <a href="https://www.simplifyingthemarket.com/2022/12/27/confused-about-whats-going-on-in-the-housing-market-lean-on-a-professional/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="housing market">housing market</a> this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about <a href="https://www.simplifyingthemarket.com/2022/12/21/what-to-expect-from-the-housing-market-in-2023/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="2023">2023</a>?</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">An article from <em style="box-sizing: border-box; outline: none !important;">HousingWire</em> <a href="https://www.housingwire.com/articles/the-red-hot-housing-market/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="offers">offers</a> this perspective:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. But more recently, market conditions have done an about-face. . . . now is the opportunity for everyone to become re-educated about what a ‘typical’ housing market looks like.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">This year, experts agree we may see the return of greater stability and predictability in the housing market if inflation continues to ease and <a href="https://www.simplifyingthemarket.com/2022/12/16/2023-housing-market-forecast-infographic/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="mortgage rates">mortgage rates</a> stabilize. Here’s what they have to say.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">The 2023 forecast from the<em style="box-sizing: border-box; outline: none !important;"> National Association of Realtors </em>(NAR) <a href="https://www.nar.realtor/magazine/real-estate-news/2023-real-estate-forecast-market-to-regain-normalcy" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="says">says</a>:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">“<em style="box-sizing: border-box; outline: none !important;">While 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, .</em><em style="box-sizing: border-box; outline: none !important;"> . . </em><em style="box-sizing: border-box; outline: none !important;">mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, . . .”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Danielle Hale, Chief Economist at <em style="box-sizing: border-box; outline: none !important;">realtor.com</em>, <a href="https://www.realtor.com/research/2023-national-housing-forecast/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="adds">adds</a>:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“. . . <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">buyers will not face the extreme competition</strong> that was commonplace over the past few years.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Lawrence Yun, Chief Economist at NAR, <a href="https://www.nar.realtor/magazine/real-estate-news/2023-real-estate-forecast-market-to-regain-normalcy" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="explains">explains</a> home prices will vary by local area, but will net neutral nationwide as the market continues to adjust:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“<strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">After a big boom over the past two years, there will essentially be no change nationally </strong></em><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">. . </strong><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">.</em></strong><em style="box-sizing: border-box; outline: none !important;"> Half of the country may experience small price gains, while the other half may see slight price declines.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Mark Fleming, Chief Economist at <em style="box-sizing: border-box; outline: none !important;">First American, </em><a href="https://blog.firstam.com/economics/why-the-housing-market-may-begin-to-stabilize-in-2023" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="says">says</a>:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“The housing market, once adjusted to the new normal of higher mortgage rates, <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">will benefit from continued strong demographic-driven demand relative to an overall, long-run shortage of supply</strong>.” </em></p></blockquote><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">If you’re looking to buy or sell a home this year, the best way to ensure you’re up to date on the latest market insights is to partner with a trusted real estate advisor. Let’s connect. Call me today! </p></div>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-41766376329308034252023-01-13T10:21:00.000-08:002023-01-13T10:21:11.087-08:00Buyers Guide to Key Terms When Buying a Home<h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">Key Terms To Know When Buying a Home [INFOGRAPHIC]</h3><img alt="Key Terms To Know When Buying a Home [INFOGRAPHIC] | MyKCM" class="attachment-entry size-entry wp-post-image" height="2684" loading="lazy" sizes="(max-width: 1046px) 100vw, 1046px" src="https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM-1046x2684.png" srcset="https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM-1046x2684.png 1046w, https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM-234x600.png 234w, https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM-399x1024.png 399w, https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM-768x1971.png 768w, https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM-599x1536.png 599w, https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM-798x2048.png 798w, https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM-100x257.png 100w, https://files.mykcm.com/2023/01/11164544/Key-Terms-To-Know-When-Buying-A-Home-MEM.png 1300w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="1046" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Some Highlights</strong></h3><ul style="box-sizing: border-box; margin: 0px 0px 1.5em 1.655em; outline: none !important; padding: 0px;"><li style="box-sizing: border-box; outline: none !important;"><a href="https://www.simplifyingthemarket.com/2023/01/06/tips-to-reach-your-homebuying-goals-in-2023-infographic/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="Buying a home">Buying a home</a> is a major transaction that can seem even more complex when you don’t understand the <a href="https://blog.firstam.com/15-real-estate-terms-you-should-know" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="terms">terms</a> used throughout the process.</li><li style="box-sizing: border-box; outline: none !important;">If you’re looking to become a homeowner this year, it’s important to know these housing <a href="https://www.ftc.gov/sites/default/files/documents/one-stops/real-estate-competition/realestateglossary.pdf" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="terms">terms</a> and how they relate to the current market so you feel confident throughout the homebuying process.</li><li style="box-sizing: border-box; outline: none !important;">Let’s connect so you have <a href="https://www.simplifyingthemarket.com/2022/12/27/confused-about-whats-going-on-in-the-housing-market-lean-on-a-professional/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="expert answers">expert answers</a> for any questions as they come up.</li></ul></div><p> </p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-6851809853615005812023-01-11T13:00:00.000-08:002023-01-11T13:00:06.471-08:00This ia a Window of Opportunity for Buyers. Why? <p> </p><h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">Today’s Housing Market Is Nothing Like 15 Years Ago</h3><img alt="Today’s Housing Market Is Nothing Like 15 Years Ago | MyKCM" class="attachment-entry size-entry wp-post-image" height="410" loading="lazy" sizes="(max-width: 750px) 100vw, 750px" src="https://files.mykcm.com/2023/01/10124016/todays-housing-market-is-nothing-like-15-years-ago-KCM.jpg" srcset="https://files.mykcm.com/2023/01/10124016/todays-housing-market-is-nothing-like-15-years-ago-KCM.jpg 750w, https://files.mykcm.com/2023/01/10124016/todays-housing-market-is-nothing-like-15-years-ago-KCM-600x328.jpg 600w, https://files.mykcm.com/2023/01/10124016/todays-housing-market-is-nothing-like-15-years-ago-KCM-100x55.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="750" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">There’s no doubt today’s <a href="https://www.simplifyingthemarket.com/2023/01/09/what-experts-are-saying-about-the-2023-housing-market/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="housing market">housing market</a> is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">In the latest <a href="https://www.nar.realtor/sites/default/files/documents/2022-12-13-nar-real-estate-forecast-summit-the-year-ahead-lawrence-yun-presentation-slides-12-13-2022.pdf" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="Real Estate Forecast Summit"><em style="box-sizing: border-box; outline: none !important;">Real Estate Forecast Summit</em></a>, Lawrence Yun, Chief Economist at the <em style="box-sizing: border-box; outline: none !important;">National Association of Realtors</em> (NAR), drew the comparisons below between today’s housing market and the previous cycle:</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><a href="https://files.mykcm.com/2023/01/10124010/today-is-nothing-like-15-years-ago-MEM.png" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank"><img alt="Today’s Housing Market Is Nothing Like 15 Years Ago | MyKCM" class="aligncenter wp-image-106779" height="450" src="https://files.mykcm.com/2023/01/10124010/today-is-nothing-like-15-years-ago-MEM.png" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin: 0px auto 1.5em; max-width: 700px; outline: none !important; vertical-align: middle; width: 700px;" width="600" /></a></p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Looking at the facts, it’s clear: today is very different than the <a href="https://www.simplifyingthemarket.com/2022/12/21/what-to-expect-from-the-housing-market-in-2023/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="housing market">housing market</a> of 15 years ago.</p><h4 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.4; margin: 1.75em 0px 0.5em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">There’s Opportunity in Real Estate Today</strong></h4><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">And in today’s market, with inventory rising and <a href="https://www.simplifyingthemarket.com/2022/12/14/you-may-have-more-negotiation-power-when-you-buy-a-home-today/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="less competition">less competition</a> from other buyers, there’s opportunity right now. According to <a href="https://www.linkedin.com/pulse/reminder-home-prices-always-rise-over-time-david-h-stevens-cmb/?trackingId=v4Fg7EqLTTCx94toGrR%2Ffw%3D%3D" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="David Stevens">David Stevens</a>, former Assistant Secretary of Housing:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“So be advised…this may be the one and only window for the next few years to get into a buyer’s market. And remember…as the Federal Reserve data shows…home prices only go up and always recover from recessions no matter how mild or severe. Long term homeowners should view this market…right now…as a unique buying opportunity.”</em></p></blockquote><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Today’s housing market is nothing like the real estate market 15 years ago. If you’re a buyer right now, this may be the chance you’ve been waiting for.</p></div>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-831755070549730682022-12-13T11:56:00.001-08:002023-01-11T13:00:34.497-08:00Buying A Home - Winter 2023 Simplifying the Market<a href="https://www.simplifyingthemarket.com/en/buyers/?a=585220-77fbebb222665c267b02ae7668ddc8ff">Winter 2023 Buyers Resource</a>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-81234948977313005692022-12-13T11:21:00.001-08:002022-12-13T11:21:20.268-08:00Wants and Needs? Homebuyers should Prioritize <p> </p><h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market</h3><img alt="Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market | MyKCM" class="attachment-entry size-entry wp-post-image" height="410" loading="lazy" sizes="(max-width: 750px) 100vw, 750px" src="https://files.mykcm.com/2022/12/01164657/prioritizing-your-wants-and-needs-as-a-homebuyer-in-todays-market-KCM.jpg" srcset="https://files.mykcm.com/2022/12/01164657/prioritizing-your-wants-and-needs-as-a-homebuyer-in-todays-market-KCM.jpg 750w, https://files.mykcm.com/2022/12/01164657/prioritizing-your-wants-and-needs-as-a-homebuyer-in-todays-market-KCM-600x328.jpg 600w, https://files.mykcm.com/2022/12/01164657/prioritizing-your-wants-and-needs-as-a-homebuyer-in-todays-market-KCM-100x55.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="750" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">There’s no denying <a href="https://www.simplifyingthemarket.com/2022/11/21/mortgage-rates-will-come-down-its-just-a-matter-of-time/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="mortgage rates">mortgage rates</a> are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much it costs to borrow money for your home loan. As you set out to make a purchase this winter, you’ll need to be strategic so you can find a home that meets your needs and <a href="https://www.simplifyingthemarket.com/2022/11/07/key-factors-affecting-home-affordability-today/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="budget">budget</a>.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Danielle Hale, Chief Economist at <em style="box-sizing: border-box; outline: none !important;">realtor.com,</em> <a href="https://twitter.com/RDC_Economics/status/1590722818639269889" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="explains">explains</a>:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“The key to making a good decision in this challenging housing market is to <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">be laser focused on what you need now and in the years ahead</strong>, . . . Another key point is to avoid stretching your budget, as tempting as it may be given the diminished purchasing power.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">In other words, it’s important to be mindful of what’s a necessity and what’s a nice-to-have when searching for a home. And the best way to understand this is to put together a list of desired features for your home search.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">The first step? Get <a href="https://www.simplifyingthemarket.com/2022/09/16/a-crucial-first-step-mortgage-pre-approval-infographic/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="pre-approved">pre-approved</a> for a mortgage. <a href="https://www.simplifyingthemarket.com/2022/10/24/pre-approval-is-a-critical-first-step-on-your-homebuying-journey/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="Pre-approval">Pre-approval</a> helps you better understand what you can borrow for your home loan, and that plays an important role in how you’ll craft your list. After all, you don’t want to fall in love with a home that’s out of reach. Once you have a good grasp of your budget, you can begin to list (and prioritize) all the features of a home you would like.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Here’s a great way to think about them before you begin:</p><ul style="box-sizing: border-box; margin: 0px 0px 1.5em 1.655em; outline: none !important; padding: 0px;"><li style="box-sizing: border-box; outline: none !important;"><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">Must-Haves</strong> – If a house doesn’t have these features, it won’t work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).</li><li style="box-sizing: border-box; outline: none !important;"><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">Nice-To-Haves</strong> – These are features that you’d love to have but can live without. Nice-To-Haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender (examples: a second home office, a garage, etc.).</li><li style="box-sizing: border-box; outline: none !important;"><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">Dream State</strong> – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner (examples: farmhouse sink, multiple walk-in closets, etc.).</li></ul><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Finally, once you’ve created your list and categorized it in a way that works for you, discuss it with your real estate advisor. They’ll be able to help you refine the list further, coach you through the best way to stick to it, and find a home in your area that meets your needs.</p><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Putting together your list of necessary features for your next home might seem like a small task, but it’s a crucial first step on your homebuying journey today. If you’re ready to find a home that fits your needs, let’s connect.</p></div>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com01712 Meridian Ave, San Jose, CA 95125, USA37.2922378 -121.91242048.9820039638211568 -157.0686704 65.602471636178848 -86.7561704tag:blogger.com,1999:blog-1944420593459013286.post-20765809462664371482022-10-14T14:58:00.002-07:002022-10-14T14:58:51.005-07:00What Does an Economic Slowdown Mean for the Housing Market? <h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">What Does an Economic Slowdown Mean for the Housing Market?</h3><img alt="What Does an Economic Slowdown Mean for the Housing Market? | MyKCM" class="attachment-entry size-entry wp-post-image" height="410" loading="lazy" sizes="(max-width: 750px) 100vw, 750px" src="https://files.mykcm.com/2022/07/06154136/20220707-KCM-Share.jpg" srcset="https://files.mykcm.com/2022/07/06154136/20220707-KCM-Share.jpg 750w, https://files.mykcm.com/2022/07/06154136/20220707-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/07/06154136/20220707-KCM-Share-100x55.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="750" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">According to a recent <a href="https://www.cnbc.com/2022/05/23/americans-worried-about-the-economy-even-before-inflation-boom-fed-survey-shows.html" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="survey">survey</a>, more and more Americans are concerned about a possible recession. Those concerns were validated when the Federal Reserve met and confirmed they were strongly committed to bringing down inflation. And, in order to do so, they’d use their tools and influence to slow down the economy.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">All of this brings up many fears and questions around how it might affect our lives, our jobs, and business overall. And one concern many Americans have is: <em style="box-sizing: border-box; outline: none !important;">how will this affect the housing market?</em> We know how <a href="https://www.simplifyingthemarket.com/2022/05/19/the-one-thing-every-homeowner-needs-to-know-about-a-recession/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="economic slowdowns">economic slowdowns</a> have impacted home prices in the past, but how could this next slowdown affect real estate and the cost of financing a home?</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><a href="https://mtg-specialists.com/2022/05/11/recession-interest-rates-and-real-estate/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="According">According</a> to <em style="box-sizing: border-box; outline: none !important;">Mortgage Specialists</em>:<strong style="box-sizing: border-box; font-size: 1em; outline: none !important;"> </strong></p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“<strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">Throughout history, during a recessionary period, interest rates go up at the beginning of the recession</strong>. But in order to come out of a recession, interest rates are lowered to stimulate the economy moving forward.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Here’s the data to back that up. If you look back at each recession going all the way to the early 1980s, here’s what happened to mortgage rates during those times (<em style="box-sizing: border-box; outline: none !important;">see chart below</em>):</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><a href="https://files.mykcm.com/2022/07/06154139/20220707-MEM-Eng-1.png" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank"><img alt="What Does an Economic Slowdown Mean for the Housing Market? | MyKCM" class="aligncenter wp-image-103295" height="450" src="https://files.mykcm.com/2022/07/06154139/20220707-MEM-Eng-1.png" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin: 0px auto 1.5em; max-width: 700px; outline: none !important; vertical-align: middle; width: 700px;" width="600" /></a></p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">As the chart shows, historically, each time the economy slowed down, mortgage rates decreased. <em style="box-sizing: border-box; outline: none !important;">Fortune.com</em> helps <a href="https://fortune.com/2019/06/19/next-recession-assets-mortgage-rates/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="explain">explain</a> the trend like this:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“Over the past five recessions, mortgage rates have fallen an average of 1.8 percentage points from the peak seen during the recession to the trough. And in many cases, they continued to fall after the fact as it takes some time to turn things around even when the recession is technically over.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">And while history doesn’t always repeat itself, we can learn from it. While an economic slowdown needs to happen to help taper inflation, it hasn’t always been a bad thing for the housing market. Typically, it has meant that the cost to finance a home has gone down, and that’s a good thing.<strong style="box-sizing: border-box; font-size: 1em; outline: none !important;"> </strong></p><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3></div><p><span style="background-color: white; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px;">Concerns of a recession are rising. As the economy slows down, history tells us this would likely mean lower mortgage rates for those looking to refinance or buy a home. While no one knows exactly what the future holds, you can make the right decision for you by working with a trusted real estate professional to get expert advice on what’s happening in the housing market and what that means for your homeownership goals.</span> </p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0San Jose, CA 95125, USA37.2909813 -121.89041368.9807474638211531 -157.0466636 65.601215136178837 -86.7341636tag:blogger.com,1999:blog-1944420593459013286.post-78240151465983748152022-09-13T09:33:00.001-07:002022-09-13T09:33:10.334-07:00Building Wealth with Home Ownership<p> </p><h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">How Owning a Home Builds Your Net Worth</h3><img alt="How Owning a Home Builds Your Net Worth | MyKCM" class="attachment-entry size-entry wp-post-image" height="410" loading="lazy" sizes="(max-width: 750px) 100vw, 750px" src="https://files.mykcm.com/2022/09/01094139/20220906-KCM-Share.jpg" srcset="https://files.mykcm.com/2022/09/01094139/20220906-KCM-Share.jpg 750w, https://files.mykcm.com/2022/09/01094139/20220906-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/09/01094139/20220906-KCM-Share-100x55.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="750" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><a href="https://www.simplifyingthemarket.com/2022/08/15/the-u-s-homeownership-rate-is-growing/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="Owning a home">Owning a home</a> is a major financial milestone and an achievement to take pride in. One major reason: the <a href="https://www.simplifyingthemarket.com/2022/07/06/how-your-equity-can-grow-over-time/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="equity">equity</a> you build as a homeowner gives your net worth a big boost. And with high <a href="https://www.simplifyingthemarket.com/2022/07/20/should-you-buy-a-home-with-inflation-this-high/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="inflation">inflation</a> right now, the link between owning your home and building your wealth is especially important.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">If you’re looking to increase your financial security, here’s why now could be a good time to start on your journey toward <a href="https://www.simplifyingthemarket.com/2022/08/25/why-you-may-want-to-start-your-home-search-today/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="homeownership">homeownership</a>.</p><h4 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.4; margin: 1.75em 0px 0.5em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Owning a Home Is a Key Ingredient for Financial Success</strong></h4><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">A <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-snapshot-of-race-and-home-buying-in-the-us-report-02-23-2022_0.pdf" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="report">report</a> from the <em style="box-sizing: border-box; outline: none !important;">National Association of Realtors </em>(NAR) details several homeownership trends, including a significant gap in net worth between homeowners and renters<em style="box-sizing: border-box; outline: none !important;">. </em>It finds:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“. . . the net worth of a homeowner was <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">about $300,000 while that of a renter’s was $8,000 in 2021.”</strong></em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">To put that into perspective, the average homeowner’s net worth is roughly 40 times that of a renter’s</strong>. This difference shows owning a home is a key step in achieving financial success.</p><h4 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.4; margin: 1.75em 0px 0.5em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Equity Gains Can Substantially Boost a Homeowner’s Net Worth</strong></h4><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">The net worth gap between owners and renters exists in large part because homeowners build equity. When you own a home, your equity grows as your home <a href="https://www.simplifyingthemarket.com/2022/08/30/whats-actually-happening-with-home-prices-today/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="appreciates in value">appreciates in value</a> and you make your mortgage payments each month. As a <a href="https://www.simplifyingthemarket.com/2022/08/03/buying-a-home-may-make-more-financial-sense-than-renting-one/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="renter">renter</a>, you don’t have that same opportunity. A recent article from <em style="box-sizing: border-box; outline: none !important;">CNET</em> <a href="https://www.cnet.com/personal-finance/mortgages/should-you-buy-a-home-in-2022-heres-what-you-need-to-know/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="explains">explains</a>:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“<strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">Homeownership is still considered one of the most reliable ways to build wealth. When you make monthly mortgage payments, you're building equity in your home</strong> . . .</em> <em style="box-sizing: border-box; outline: none !important;">When you rent, you aren't investing in your financial future the same way you are when you're paying off a mortgage.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">But on top of that, your home equity grows even more as your home <a href="https://www.simplifyingthemarket.com/2022/08/11/what-does-the-rest-of-the-year-hold-for-home-prices/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="appreciates">appreciates</a> in value over time. That has a major impact on the wealth you build, as a recent article from <em style="box-sizing: border-box; outline: none !important;">Bankrate</em> <a href="https://www.bankrate.com/home-equity/how-to-build-equity-in-your-home/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="notes">notes</a>:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“Building home equity can help you increase your wealth over time, . . . <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">A home is one of the only assets that have the potential to appreciate in value as you pay it down</strong></em>.”</p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">In other words, when you own your home, you have the advantage of your mortgage payment acting as a contribution to a forced savings account that <a href="https://www.simplifyingthemarket.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="grows in value">grows in value</a> as your home does. And when you sell, any <a href="https://www.simplifyingthemarket.com/2022/07/08/why-growing-home-equity-is-great-news-if-you-plan-to-move-infographic/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="equity">equity</a> you’ve built up comes back to you. <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">As a renter, you’ll never see a return on the money you pay out in rent every month.</strong></p><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Owning a home is an important part of building your net worth. If you’re ready to start on your journey to homeownership, let’s connect today.</p></div>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com01712 Meridian Ave, San Jose, CA 95125, USA37.2922378 -121.91242048.9820039638211568 -157.0686704 65.602471636178848 -86.7561704tag:blogger.com,1999:blog-1944420593459013286.post-77473782657624021152022-08-17T10:35:00.000-07:002022-08-17T10:35:54.648-07:00Home Price Projections that May Surprise You - 2022<p> </p><h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">Experts Increase 2022 Home Price Projections</h3><img alt="Experts Increase 2022 Home Price Projections | MyKCM" class="attachment-entry size-entry wp-post-image" height="410" loading="lazy" sizes="(max-width: 750px) 100vw, 750px" src="https://files.mykcm.com/2022/08/16093014/20220817-KCM-Share.jpg" srcset="https://files.mykcm.com/2022/08/16093014/20220817-KCM-Share.jpg 750w, https://files.mykcm.com/2022/08/16093014/20220817-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/08/16093014/20220817-KCM-Share-100x55.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="750" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">If you’re wondering if <a href="https://www.simplifyingthemarket.com/2022/07/21/think-home-prices-are-going-to-fall-think-again/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="home prices">home prices</a> are going to come down due to the cooldown in the <a href="https://www.simplifyingthemarket.com/2022/06/14/is-the-housing-market-correcting/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="housing market">housing market</a> or a <a href="https://www.simplifyingthemarket.com/2022/08/16/what-would-a-recession-mean-for-the-housing-market/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="potential recession">potential recession</a>, here’s what you need to know. Not only are experts forecasting home prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for home price appreciation from their original 2022 forecasts (<em style="box-sizing: border-box; outline: none !important;">shown in green in the chart below</em>):</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><a href="https://files.mykcm.com/2022/08/16162453/20220817-MEM-Eng-.png" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank"><img alt="Experts Increase 2022 Home Price Projections | MyKCM" class="aligncenter wp-image-104054" height="450" src="https://files.mykcm.com/2022/08/16162453/20220817-MEM-Eng-.png" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin: 0px auto 1.5em; max-width: 700px; outline: none !important; vertical-align: middle; width: 700px;" width="600" /></a>As the chart shows, most sources adjusted up, and now call for more appreciation in 2022 than they originally projected this January. But why are experts so confident the housing market will see ongoing appreciation? It’s because of <a href="https://www.simplifyingthemarket.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="supply and demand">supply and demand</a> in most markets. As <em style="box-sizing: border-box; outline: none !important;">Bankrate</em> <a href="https://www.bankrate.com/real-estate/june-2022-fed-housing-comments/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="says">says</a>:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“After all, supplies of homes for sale remain near record lows. And while a jump in mortgage rates has dampened demand somewhat, <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">demand still outpaces supply, thanks to a combination of little new construction and strong household formation by large numbers of millennials</strong>.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Knowing that experts forecast home prices will continue to appreciate in most markets and that they’ve actually increased their original projections for this year should help you answer the question: <em style="box-sizing: border-box; outline: none !important;">will home prices fall?</em> According to the latest forecasts, experts are confident prices will <a href="https://www.simplifyingthemarket.com/2022/08/11/what-does-the-rest-of-the-year-hold-for-home-prices/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="continue to appreciate">continue to appreciate</a> this year, although at a more moderate rate than they did in 2021.</p><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">If you’re worried home prices are going to decline, rest assured many experts raised their forecasts to say they’ll continue to appreciate in most markets this year. If you have questions about what’s happening with home prices in our local area, let's connect.</p></div>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-73528263604579644552022-08-11T16:49:00.000-07:002022-08-11T16:49:23.017-07:00What to Expect for the Rest of 2022? <h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">What Does the Rest of the Year Hold for Home Prices?</h3><img alt="What Does the Rest of the Year Hold for Home Prices? | MyKCM" class="attachment-entry size-entry wp-post-image" height="410" loading="lazy" sizes="(max-width: 750px) 100vw, 750px" src="https://files.mykcm.com/2022/08/10093713/20220811-KCM-Share.jpg" srcset="https://files.mykcm.com/2022/08/10093713/20220811-KCM-Share.jpg 750w, https://files.mykcm.com/2022/08/10093713/20220811-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/08/10093713/20220811-KCM-Share-100x55.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="750" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Whether you’re a potential <a href="https://www.simplifyingthemarket.com/2022/07/29/three-reasons-to-buy-a-home-in-todays-shifting-market-infographic/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="homebuyer">homebuyer</a>, <a href="https://www.simplifyingthemarket.com/2022/07/18/wondering-where-youll-move-if-you-sell-your-house-today/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="seller">seller</a>, or both, you probably want to know: <em style="box-sizing: border-box; outline: none !important;">will home prices fall this year? </em>Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your <a href="https://www.simplifyingthemarket.com/2022/07/05/is-homeownership-still-the-american-dream/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="homeownership">homeownership</a> goals.</p><h4 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.4; margin: 1.75em 0px 0.5em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Last Year’s Rapid Home Price Growth Wasn’t the Norm</strong></h4><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up. <em style="box-sizing: border-box; outline: none !important;">CoreLogic</em> helps <a href="https://www.corelogic.com/intelligence/corelogic-hpi-posted-record-year-over-year-growth-in-2021/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="explain">explain</a> how unusual last year’s appreciation was:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“</em><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">Price appreciation averaged 15% for the full year of 2021</em></strong><em style="box-sizing: border-box; outline: none !important;">, up from the 2020 full year average of 6%.”</em></p></blockquote><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">In other words, the pace of appreciation in 2021 far surpassed the 6% the market saw in 2020. And even that appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale.</p><h4 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.4; margin: 1.75em 0px 0.5em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Home Price Appreciation Moderates Today</strong></h4><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">This year, home price appreciation is slowing (or decelerating) from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022 (<em style="box-sizing: border-box; outline: none !important;">see graph below</em>):</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><a href="https://files.mykcm.com/2022/08/10093715/20220811-MEM-Eng.png" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank"><img alt="What Does the Rest of the Year Hold for Home Prices? | MyKCM" class="aligncenter wp-image-103941" height="450" src="https://files.mykcm.com/2022/08/10093715/20220811-MEM-Eng.png" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin: 0px auto 1.5em; max-width: 700px; outline: none !important; vertical-align: middle; width: 700px;" width="600" /></a></p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Why do all of these experts agree prices will continue to rise? It’s simple. Even though <a href="https://www.simplifyingthemarket.com/2022/07/27/want-to-buy-a-home-now-may-be-the-time/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="housing supply">housing supply</a> is growing today, it’s still low overall thanks to several factors, including a long period of <a href="https://www.simplifyingthemarket.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="underbuilding homes">underbuilding homes</a>. And experts say that’s going to help keep upward pressure on <a href="https://www.simplifyingthemarket.com/2022/07/21/think-home-prices-are-going-to-fall-think-again/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="home prices">home prices</a> this year. Additionally, since mortgage rates are higher this year than they were last year, buyer demand has slowed.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">As the market undergoes this change, it’s true price appreciation this year won’t match the feverish pace in 2021. But the rapid appreciation the market saw last year wasn’t sustainable anyway.</p><h4 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.4; margin: 1.75em 0px 0.5em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">What Does That Mean for You?</strong></h4><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">Today, the market is beginning to move back toward pre-pandemic levels. But even the forecast for 10% home price growth in 2022 is well beyond the 3.8% that’s more typical for a normal market.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;"><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">So, despite what you may have heard, experts say home prices won’t fall in most markets. They’ll just appreciate more moderately.</strong></p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">If you’re worried the house you’re trying to sell or the home you want to buy will decrease in value, you should know experts aren’t calling for depreciation in most markets, just <a href="https://www.simplifyingthemarket.com/2022/06/16/home-price-deceleration-doesnt-mean-home-price-depreciation/?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="deceleration">deceleration</a>. That means your home should still grow in value, just not as fast as it did last year.</p><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3></div><p><span style="background-color: white; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px;">If you’re thinking of making a move, you shouldn’t wait for prices to fall. Experts say nationally, prices will continue to appreciate this year, just at a more moderate pace. When you’re ready to begin the process of buying or selling, let’s connect so you have a local market expert on your side each step of the way.</span> </p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-38437536819877748412022-06-27T17:31:00.001-07:002022-06-27T17:31:15.333-07:00Custom Home in Foothill Location<iframe width="480" height="270" src="https://youtube.com/embed/n1LHWUx6skw" frameborder="0"></iframe>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0684 Colleen Dr, San Jose, CA 95123, USA37.2288543 -121.8349326-16.678443074226884 167.8525674 90 -51.5224326tag:blogger.com,1999:blog-1944420593459013286.post-39246171813683595732021-09-03T08:36:00.002-07:002022-04-19T13:54:16.027-07:00New Trend: Existing Homes over New Construction<p> </p><h3 class="kcm-post-minimal-title" style="background-color: white; box-sizing: border-box; color: #666666; font-family: sans-serif; font-size: 1.4em; letter-spacing: -0.035em; line-height: 1.3; margin: 0px 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;">Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes</h3><img alt="Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes | MyKCM" class="attachment-entry size-entry wp-post-image" height="410" loading="lazy" sizes="(max-width: 750px) 100vw, 750px" src="https://files.mykcm.com/2021/08/02135720/20210805-KCM-Share.jpg" srcset="https://files.mykcm.com/2021/08/02135720/20210805-KCM-Share.jpg 750w, https://files.mykcm.com/2021/08/02135720/20210805-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2021/08/02135720/20210805-KCM-Share-100x55.jpg 100w" style="background-color: white; border: 0px; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; height: auto; max-width: 100%; outline: none !important; vertical-align: middle;" width="750" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><br style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;" /><div class="kcm-post-minimal-content" style="background-color: white; box-sizing: border-box; color: #666666; font-family: "Open Sans", sans-serif; font-size: 14px; outline: none !important;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">In April, the <em style="box-sizing: border-box; outline: none !important;">National Association of Home Builders</em> (NAHB) posted an article, <em style="box-sizing: border-box; outline: none !important;"><a href="https://eyeonhousing.org/2021/04/home-buyers-preferences-shift-towards-new-construction/" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="Home Buyers’ Preferences Shift Towards New Construction">Home Buyers’ Preferences Shift Towards New Construction</a></em>, which reported:</p><blockquote style="border-bottom: none; border-image: initial; border-left: 1px solid rgb(229, 229, 229) !important; border-right: none; border-top: none; box-sizing: border-box; font-size: 1em; line-height: 1.3; margin: 1.5em 0px; outline: none !important; padding: 1em;"><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">“<em style="box-sizing: border-box; outline: none !important;">60% of people who were looking to buy a home in 2020 said they'd <strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">prefer new construction to an existing home.</strong>”</em></p></blockquote><h4 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.4; margin: 1.75em 0px 0.5em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">However, it seems buyers are now shifting their preferences back to existing homes.</strong></h4><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">The latest <em style="box-sizing: border-box; outline: none !important;"><a href="https://www.conference-board.org/data/consumerconfidence.cfm" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="Consumer Confidence Survey">Consumer Confidence Survey</a></em> reveals the percentage of Americans planning to buy a home in the next six months is virtually the same as it was back in March. However, the percentage that plan to buy a newly constructed home is lower for that same period.</p><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">NAHB confirms this sentiment in their latest <em style="box-sizing: border-box; outline: none !important;"><a href="https://eyeonhousing.org/wp-content/uploads/2021/07/HOUSING-TRENDS-REPORT-Q221.pdf?_ga=2.121964555.1460318833.1627861533-1134178126.1605647352" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank" title="Housing Trends Report">Housing Trends Report</a></em>. The organization explains that existing homes are now the top preference among today’s buyers. Here’s a breakdown of those findings:<a href="https://files.simplifyingthemarket.com/2021/08/02135722/20210805-MEM-Eng-1.png?a=585220-77fbebb222665c267b02ae7668ddc8ff" rel="noopener noreferrer" style="box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration-line: none;" target="_blank"><img alt="Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes | MyKCM" class="aligncenter wp-image-98897" height="450" src="https://files.mykcm.com/2021/08/02135722/20210805-MEM-Eng-1.png" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin: 0px auto 1.5em; max-width: 700px; outline: none !important; vertical-align: middle; width: 700px;" width="600" /></a></p><h4 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.4; margin: 1.75em 0px 0.5em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Why the shift?</strong></h4><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">There are several reasons why buyer preference is shifting. Here are two that impact purchasers looking to move in now:</p><ul style="box-sizing: border-box; margin: 0px 0px 1.5em 1.655em; outline: none !important; padding: 0px;"><li style="box-sizing: border-box; outline: none !important;"><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">The process may move faster</strong>. Builders may not be able to guarantee when the house will be complete and ready for move-in due to supply chain challenges with materials like lumber and appliances. If you buy an existing home, not only is it ready, it also likely has a refrigerator, range, and other necessary home appliances already.</li><li style="box-sizing: border-box; outline: none !important;"><strong style="box-sizing: border-box; font-size: 1em; outline: none !important;">There are no unexpected costs during the buying process</strong>. With the price of land, labor, and lumber being so volatile, many builders are including an escalation clause in the price negotiation to cover rising expenses. With an existing home, the final price you will pay is negotiated upfront.</li></ul><h3 style="box-sizing: border-box; color: #00aeff; font-size: 1.2em; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizelegibility;"><strong style="box-sizing: border-box; color: #666666; font-size: 1em; outline: none !important;">Bottom Line</strong></h3><p style="box-sizing: border-box; margin: 0px 0px 1.5em; outline: none !important;">If you’re a homeowner looking to sell, your house is more attractive to a greater number of buyers as compared to earlier in the year. This might be the time for us to connect to discuss the possibility.</p></div>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com01712 Meridian Ave, San Jose, CA 95125, USA37.2922378 -121.9124204-42.884500513429096 97.462579600000026 90 18.712579599999998tag:blogger.com,1999:blog-1944420593459013286.post-61465488139180743192021-04-26T14:51:00.001-07:002021-04-26T14:52:49.375-07:00New Listing in The Villas of Almaden. Call me for more information!<iframe width="480" height="270" src="https://youtube.com/embed/jDkTd1TWDMU" frameborder="0"></iframe>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-21129397790781774922021-03-16T16:52:00.002-07:002022-04-19T13:30:59.057-07:00Seniors Need A Plan! <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKf69mfHrAMioI91uaQSWmh7bkmzWoiw2x4kKXpJg5Ywg4R4TKX5D8vOLgIOJ27m-hmVmMFNbZvFEe1FzbgNZVKk1xI-t4RgR1gt-CTUqF651pBfBHwHlxRO4dBFdwL2kejdRayMr7KIun/s471/SRES-color.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="242" data-original-width="471" height="94" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKf69mfHrAMioI91uaQSWmh7bkmzWoiw2x4kKXpJg5Ywg4R4TKX5D8vOLgIOJ27m-hmVmMFNbZvFEe1FzbgNZVKk1xI-t4RgR1gt-CTUqF651pBfBHwHlxRO4dBFdwL2kejdRayMr7KIun/w183-h94/SRES-color.png" width="183" /></a></div>Check my resource guide for seniors and their families. As a designated Senior Real Estate Specialist (SRES), I am here to help you and your families navigate the next step in your adventure. Click on the link below: <br /><p></p><p><span style="font-size: large;"><b> <a href="https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:acd4f714-99f7-427b-af1a-10de3b23972d" target="_blank">Moving On - Housing Related Resources for Seniors</a></b></span></p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0San Jose, CA, USA37.3382082 -121.88632869.0279743638211514 -157.0425786 65.648442036178835 -86.7300786tag:blogger.com,1999:blog-1944420593459013286.post-11479507134254130022021-01-25T10:32:00.000-08:002021-01-25T10:32:34.269-08:002021 Housing Forecast<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2prf8NxFYjb7_vPvzNNG2CfbEwZrkAqziWnXZYjCyARPqbDN-S46IiVeQdOGZD6RrTlua-O-71eAr6pzlPJrR0i5CXiRyqIAFtAugxLRxmWM7PSYZ0GO8dVU5o718xPac3rNKMDcAfZw3/" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="764" data-original-width="1000" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2prf8NxFYjb7_vPvzNNG2CfbEwZrkAqziWnXZYjCyARPqbDN-S46IiVeQdOGZD6RrTlua-O-71eAr6pzlPJrR0i5CXiRyqIAFtAugxLRxmWM7PSYZ0GO8dVU5o718xPac3rNKMDcAfZw3/" width="314" /></a></div><br /> <span face="verdana, geneva, sans-serif" style="background-color: white; color: #555555; font-size: 12pt; font-weight: 700;">Housing Forecast for 2021</span><p></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">At the end of 2019, forecasters were predicting a stellar 2020 for the housing market. Then came the global pandemic, which created chaos and uncertainty and derailed a booming economy into a recession. The economic recovery has been v-shaped so far, but this isn’t the end. And as the economy unfolds, it has produced clear winners and losers among the different sectors. </span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">One of the big winners has been the housing market, which saw home sales and prices hit decade-plus highs following decade lows in the span of just a few months. Expect housing’s winning streak to continue in 2021 as seasonal trends normalize and some of the frenzied momentum fades thanks to affordability challenges, like mortgage rates increasing. </span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">Other wild cards are in play as the gap between the employed and unemployed grows. Combine this with the expiration of the CARES Act and eviction moratoria. Along with the housing market, the economy could take another hit, especially if a flood of for-sale homes suddenly shows up.</span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">You need a local agent who has the experience and knowledge to sell a home in any market but especially during this still unpredictable environment. If you’re contemplating selling your home, call me at 408.580.6219 or email at <a href="mailto:connie@conniefoley.com">connie@conniefoley.com</a> to get the real value. It could be more than you think. In the meantime, see what the forecasters at realtor.com are saying for 2021.</span></p><p style="background-color: white; box-sizing: border-box; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; font-size: 12pt;"><span style="box-sizing: border-box; font-weight: 700;"><span style="box-sizing: border-box; color: #20124d;">Springtime Refresher</span></span></span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">As the seasons change, the needs of our homes change with them. To help us maintain our homes’ value and the long-term functionality of key features such as HVAC and gutters, we have prepared a simple maintenance list for you. You can schedule time in your calendar throughout the first few months of the year or hire a professional.</span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">- Schedule your HVAC inspection to ensure its efficiency and lifespan.</span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">- Clean out your gutters for spring showers to flow without buildup.</span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">- Improve curb appeal with some spring plantings and trim any broken branches.</span></p><p style="background-color: white; box-sizing: border-box; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; font-size: 12pt;"><span style="box-sizing: border-box; font-weight: 700;"><span style="box-sizing: border-box; color: #351c75;">Update Your Office</span></span></span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">As many people across the country have begun working from home, here are some fun side projects you may want to tackle. They may help you enjoy your space more and make it more your own.</span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">- Pick a new fresh paint color for your office space.</span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">- Select new curtains or blinds for your viewing pleasure.</span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><span face="verdana, geneva, sans-serif" style="box-sizing: border-box; color: #555555; font-size: 12pt;">- Declutter your bookcases, shelves, or tables with stylish organizers.</span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 16px; line-height: 24px; margin: 0px 0px 20px;"><br /></p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com01712 Meridian Ave, San Jose, CA 95125, USA37.2922378 -121.91242048.9820039638211568 -157.0686704 65.602471636178848 -86.7561704tag:blogger.com,1999:blog-1944420593459013286.post-22256048536445105832020-11-17T13:35:00.000-08:002022-04-19T13:30:59.203-07:00What should you know about Prop. 19? <p><span style="font-size: medium;"> </span></p><p class="p1" style="font-family: Helvetica; font-size: 26px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0px;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3xiv-DwerG4gQVEfqtDCxCx2ItfzBWCPunGPhqdCwvlWd553NEGtjUKhJ2h1jg79MEyrnLzMie45GlgGgWmSWGdrkcB5DP2EczSBrE-m6mba7TrSAPu4srhrik0UFiqaC0csRnVaPonuV/s232/unnamed.jpeg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="174" data-original-width="232" height="110" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3xiv-DwerG4gQVEfqtDCxCx2ItfzBWCPunGPhqdCwvlWd553NEGtjUKhJ2h1jg79MEyrnLzMie45GlgGgWmSWGdrkcB5DP2EczSBrE-m6mba7TrSAPu4srhrik0UFiqaC0csRnVaPonuV/w147-h110/unnamed.jpeg" width="147" /></a></b></div><b><br /><span style="font-size: large;">Proposition <span style="color: #2b00fe;">19</span> has Passed… What you should know<span class="Apple-converted-space"> </span></span></b><p></p><p class="p1" style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0px;"><span style="font-size: medium;"><br /></span></p><p class="p1" style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0px;"><span style="font-size: medium;"><br /></span></p><p class="p1" style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0px;"><span style="font-size: large;">• Effective April 1, 2021, allows homeowners 55 or older, those with severe disabilities, and victims of wildfires and natural disasters to transfer their tax assessments anywhere within the state of California to a primary residence of equal value with no property tax increase, or a more expensive primary residence with an upward adjustment within two years of the sale of the original primary residence. </span></p><p class="p1" style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0px;"><span style="font-size: large;">• Increases the number of times that these eligible homeowners can transfer their tax assessments from one to up to three times. </span></p><p class="p1" style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0px;"><span style="font-size: large;">• Effective February 16, 2021, requires that inherited homes that are not used as principal residences, such as second homes or rentals, be reassessed at market value when transferred to children or grandchildren. </span></p><p class="p1" style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0px;"><span style="font-size: large;">• Allocates additional revenue or net savings resulting from the ballot measure to wildfire agencies and counties.<span class="Apple-converted-space"> </span></span></p><p><span class="s1" style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"><span style="color: #2b00fe; font-size: large;">Proposition19</span> </span><span style="font-size: large;">builds off of Proposition 13, passed in 1978, which limits property taxes to 1% of a home’s value, based on the year the house was purchased. Proposition 13 also restricts the amount that taxable value can go up every year to 2%, even if a home’s market value increases much more. </span></p><p><span style="font-size: large;">Currently, as soon as residents move to a new home after living in their old home for a long time, their property tax increases by a lot — this is the issue that Proposition 19 seeks to address. Proposition 19 allows homeowners who are 55 or older to transfer the taxable value of their old house to a new home of equal value or a more expensive home, thereby avoiding the big jump in property taxes they would otherwise face. This is designed to encourage seniors to enter the real estate market. </span></p><p><span style="font-size: large;">Proposition 19 also changes tax reassessments on inherited properties. Currently, under Propositions 58 and 193, primary residential homes are not reassessed when transferred to heirs, so any property that is benefitting from the low tax rates created by Proposition 13 would continue to benefit if a parent passes the property to a child or grandchild. Rental properties or vacation homes can also currently be transferred from parent to a child or grandchild with the first $1 million tax basis exempt from re-assessment when transferred. </span></p><p><span style="font-size: large;">However, Proposition 19 makes it no longer possible for inherited homes to maintain the same low property tax rate enjoyed prior to the inheritance if the heir does not move into it as a primary residence. Children who inherit their parents’ home, but only intend to keep it as a second home or rent it out, would see a big increase in property taxes under Proposition 19. Further, when the inherited property is used as the recipient’s principal residence, but has a market value of $1 million more than the property’s taxable value, an upward adjustment in assessed value would occur.</span><span class="Apple-converted-space" style="font-size: large;"> </span></p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-63026495368710284472020-10-01T16:03:00.001-07:002020-10-01T16:03:38.983-07:00Charming Single Family Home in Willow Glen <p></p><div class="separator" style="clear: both; text-align: center;">Updated and Move-in ready! 3 bedroom, 2 bath home on a Willow Glen tree-lined street. </div><div class="separator" style="clear: both; text-align: center;">WELCOME TO 1465 MAXINE AVE</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen="" class="BLOG_video_class" height="266" src="https://www.youtube.com/embed/bHTMlVUxqrQ" width="320" youtube-src-id="bHTMlVUxqrQ"></iframe></div><br />For more information, please contact me! I'm here to help. <p></p>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com01465 Maxine Ave, San Jose, CA 95125, USA37.284039500000013 -121.89719398.9738056638211674 -157.0534439 65.594273336178858 -86.7409439tag:blogger.com,1999:blog-1944420593459013286.post-48504625120362854562020-02-15T15:30:00.001-08:002020-02-15T15:30:10.176-08:005703 Saxony Court, San Jose, CA 95123<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/prHj-IHGATU" width="480"></iframe>Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0tag:blogger.com,1999:blog-1944420593459013286.post-5238202952141416572019-11-21T10:13:00.001-08:002022-04-19T13:30:58.621-07:00Getting Your Home Ready for Sale? <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgmgvM9T3hr3zPnS1AmUIv_VoclT8_LKIke2GMa7NIgzOOULUryP947FyKKg1Mi4gP9q5yXa694DF5Pv5XH5e89wBG-SPIkR13fTLciLe0GfOL40TxJ-XlVp67311Ovib4VKnEm7hK1auvA/s1600/IMG_5270.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgmgvM9T3hr3zPnS1AmUIv_VoclT8_LKIke2GMa7NIgzOOULUryP947FyKKg1Mi4gP9q5yXa694DF5Pv5XH5e89wBG-SPIkR13fTLciLe0GfOL40TxJ-XlVp67311Ovib4VKnEm7hK1auvA/s320/IMG_5270.jpg" width="320" /></a></div>
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Low-Cost Upgrades Can Boost Your Home's Appeal</h1>
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If you’re considering putting your home on the market and think that only costly improvements will make a big difference, think again. While major renovations can certainly boost the value of your home and entice buyers, there’s no need to break the bank. There are lots of low-cost improvements that can increase your home’s value and make it more attractive to potential buyers.</div>
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Here are a few easy upgrades that will give you plenty of bang for your buck.</div>
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<span style="box-sizing: border-box; font-weight: 700;">Enhance Curb Appeal.</span> After scrolling through home photos online, potential buyers often drive by a home, deciding in just seconds whether it’s worth seeing the inside. So, first impressions definitely matter, and you don’t have to spend a lot to enhance your home’s curb appeal. Make the exterior more enticing by: pressure-washing the house, driveway, front walk and patios, cleaning gutters, trimming trees and shrubs, weeding and freshening mulch, and planting seasonal flowers.</div>
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<span style="box-sizing: border-box; font-weight: 700;">Minor Kitchen Face-lift.</span> Kitchens are often the focal point of a home and many real estate experts agree that even minor kitchen changes can help boost your home’s value. Fortunately, you can breathe new life into your kitchen without spending a fortune by painting cabinets, swapping out cabinet and drawer handles, buying new appliances and upgrading counters.</div>
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<span style="box-sizing: border-box; font-weight: 700;">Brighten Up.</span> Lighting can enhance color and increase functionality throughout your home. Well-lit rooms are welcoming, so make sure all rooms in your home, including hallways, have plenty of lighting. This will help make your home bright and cheerful with nothing to hide.</div>
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<span style="box-sizing: border-box; font-weight: 700;">Add a Fresh Coat of Paint.</span> Painting a home’s interior doesn’t cost much and can make a huge difference by instantly changing its look and feel. Choosing more neutral colors like beige, gray or light blue make it easier for potential buyers to envision themselves living there, and they can always opt for bolder colors later.</div>
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<span style="box-sizing: border-box; font-weight: 700;">Paint or Replace Front Door.</span> Your front door should be inviting to visitors. If the door looks old and tired, consider replacing it, or at least painting it a bolder color. And don’t overlook the doorknob. A worn-out doorknob will be one of the first things a potential buyer notices when they step into your house, so make sure it’s attractive and works properly. </div>
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If you are considering listing your property soon, contact <a href="mailto:connie@conniefoley.com" target="_blank">me</a> today. As a Coldwell Banker agent, I can provide guidance and advice as you prepare to sell your home.</div>
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Connie Foley Realtorhttp://www.blogger.com/profile/02296767991797054876noreply@blogger.com0