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Daren Bailey

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by Daren Bailey

May 12, 2017

With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago. Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand caused homebuilders in many markets to overbuild. Eventually, the excess in new construction and the flooding of the market with distressed properties (foreclosures & short sales), caused by the lack of appropriate lending standards, led to the housing crash. Where we are today… 1. If we look at lending standards based on the Mortgage Credit Availability Index released monthly by the . . .

April 05, 2017

by The KCM Crew on April 5, 2017 in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers
Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different! Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up with demand, which has lead to A LOT of competition for the homes that are available. A recent Bloomberg article touched on the current market conditions: “It’s the 2017 U.S. spring home-selling season, and listings are scarcer than they’ve ever been. Bidding wars common in perennially hot markets like the San Francisco Bay area, Denver and Boston are . . .

March 27, 2017

by The KCM Crew on March 22, 2017 in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers
Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying: Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center: “In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.” Scott Anderson, Chief Economist for Bank of the West: “The tightening labor market, rising wage growth, high levels of consumer confidence and a millennial generation with a pent-up demand for . . .

February 24, 2017

by The KCM Crew on February 23rd, 2017The National Association of Realtors recently released a study titled 'Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans:Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.Today, we want to cover the section of the report that quoted several studies concentrating on the impact homeownership has on the health of family members. Here are some of the major findings on this issue revealed in the report:There is a strong positive relationship between living in poor housing and a range of health problems, including respiratory conditions such as . . .

February 13, 2017

A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close. It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest season for real estate. What is surprising, though, is that listing during the winter came in second! Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same. The study goes on to say that: Buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often . . .

January 31, 2017

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection. This contingency allows you to renegotiate the price paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed. How to Choose an Inspector Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. Realtor.com suggests that you consider the following 5 areas when choosing the right home inspector for you: Qualifications – find out . . .

October 20, 2016


Recently there has been a lot of talk about home prices and if they are accelerating too quickly. In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.The great news about rising prices, however, is that according to CoreLogic’s latest US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.The map below was created from CoreLogic’s report and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available).For those that are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new found equity in their homes and themselves, not in . . .

October 19, 2016

by The KCM Crew on October 19, 2016 in First Time Homebuyers, For Buyers, Move-Up Buyers Agents, did you know you can share a personalized version of this post? Learn more!
In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search. If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale with rose-colored glasses. Do you really need that farmhouse sink in the kitchen in order to be happy with your home choice? Would a two-car garage be a convenience . . .

October 03, 2016

by The KCM Crew on September 30, 2016 in For Buyers, For Sellers, Housing Market Update
Some Highlights: Existing home inventory is down 10.1% from last year.A lack of inventory explains the modest increase in home sales (0.8% year-over-year) despite strong buyer demand.Existing home prices increased 5.1% year-over-year, which is directly related to the lack of inventory. . . .

September 07, 2016

There are some experts questioning whether the current pace of residential home sales is sustainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market. Why the concern? Some are looking at the last three years of home sales and comparing them to the three years just prior to the housing bubble. Looking at the graph below, we can understand that thinking. However, if we go further back in history, we can see the real picture. After taking out the “boom & bust” years, the pace of sales is growing at a quite natural pace. And new home sales are way below historic numbers. Trulia’s Chief Economist Ralph McLaughlin explains: “Adjusted for population, [new home sales] are at about 63% of their fifty-year . . .
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