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A Great Way to Increase Your Family’s Net Worth
A Great Way to Increase Your Family’s Net Worth | MyKCMEvery three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased ... Read More
Buying a Home: Do You Know the Lingo? [INFOGRAPHIC]
Buying a Home? Do You Know the Lingo? [INFOGRAPHIC] | MyKCMSome Highlights: Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. To point you in the right direction, here’s a list of some of the most common language you’ll hear when buying a home. The best way to ensure your home-buying process is a positive one is ... Read More
Busting the Myth About a Housing Affordability Crisis
Busting the Myth About a Housing Affordability Crisis | MyKCMIt seems you can’t find a headline with the term “housing affordability” without the word “crisis” attached to it. That’s because some only consider the fact that residential real estate prices have continued to appreciate. However, we must realize it’s not just the price of a home that matters, but the price relative to a ... Read More
The Benefits of Growing Equity in Your Home
The Benefits of Growing Equity in Your Home | MyKCMOver the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity. Let’s break down three ways this is a win for ... Read More
5 Real Estate Reality TV Myths Explained
5 Real Estate Reality TV Myths Explained | MyKCMHave you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of shows like “Property Brothers,” “Fixer Upper,” and “Love It or List It,” all in one sitting. When you’re in the middle of your real estate-themed TV ... Read More
American Confidence in Housing at an All-Time High
American Confidence in Housing at an All-Time High | MyKCMFannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions. Great News! ... Read More
Rent Vs. Own [INFOGRAPHIC]
Rent Vs. Own [INFOGRAPHIC] | MyKCMSome Highlights: Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space. Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather ... Read More
Why All the Chicken Littles Should Calm Down
Why All the Chicken Littles Should Calm Down | MyKCMThe U.S. Census Bureau recently released their 2019 Q2 Homeownership Report. Some began to see the sky falling, believing the report showed Americans may be stepping back from their belief in homeownership. The national homeownership rate (Americans who owned vs. rented their primary residence) increased significantly during the housing boom, reaching its peak of 69.2% ... Read More
Appreciation Is Strong: It Might Be Time to Sell
Appreciation Is Strong: It Might Be Time to Sell | MyKCMThere’s no doubt that today’s housing market is changing, and everything we see right now indicates it is time to sell. Here’s a look at why selling now is likely to drive the greatest return on your largest investment. Home values have been appreciating for several years now, growing at a strong, steady, and impressive ... Read More
How Much Do You Know About Down Payments?
How Much Do You Know About Down Payments? | MyKCMWhether you’ve owned a home before, or you’re ready to jump into homeownership for the first time, there are always a lot of questions swirling around about what is truly required for a down payment, and how to best source down payment assistance. Let’s tackle these two today. 1. How much do you really need ... Read More
Millionaire to Millennials: The Costly Mistake of Not Buying Now
Millionaire to Millennials: The Costly Mistake of Not Buying Now | MyKCMOn his personal website, self-made millionaire David Bach makes a striking statement:  “Not prioritizing homeownership is the single biggest mistake millennials are making.”  He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances ... Read More
Existing Home Sales Point Toward a Good Time to Sell [INFOGRAPHIC]
Existing Home Sales Point Toward a Good Time to Sell [INFOGRAPHIC] | MyKCMSome Highlights: Existing Home Sales dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June. Low inventory levels are still a factor in the market. The current supply of homes for sale is at 4.4 months, which is less than the optimal 6-month supply. Median home prices were up 4.3% ... Read More
How to Judge the Impact of the Next Economic Slowdown on Housing
How to Judge the Impact of the Next Economic Slowdown on Housing | MyKCMWe’ve experienced economic growth for almost a decade, which is the longest recovery in the nation’s history. Experts know a recession can’t be too far off, but when will this economic slowdown actually occur? Pulsenomics just released a special report revealing that nearly 6 out of 10 of the 90 economists, investment strategists, and market ... Read More
Why Now Is the Perfect Time to Sell Your House
Why Now Is the Perfect Time to Sell Your House | MyKCMAs a homeowner, it’s always tempting to dream about the next big project you’re going to tackle. The possibilities are endless. Should I renovate? Should I refinance? Should I stay? Should I move? The list goes on and on. In today’s housing market, it’s actually a great time to shift your thoughts toward selling your ... Read More
How to Increase Your Equity Over the Next 5 Years
How to Increase Your Equity Over the Next 5 Years | MyKCMMany of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are the results from the Q2 2019 Survey: Home values will appreciate by 4.1% in 2019 The average annual appreciation will be ... Read More
3 Expert Insights On Inventory In The Current Market
3 Expert Insights On Inventory In The Current Market | MyKCMThe current housing landscape presents greater home values, low interest rates, and high buyer demand. All of these factors point to the strong market forecasted to continue throughout the rest of the year. There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases ... Read More
Home Prices Up 5.05% Across the Country [INFOGRAPHIC]
Home Prices Up 5.05% Across the Country [INFOGRAPHIC] | MyKCMSome Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
3 Powerful Reasons to Buy a Home Now
3 Powerful Reasons to Buy a Home Now | MyKCMWhether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today. 1. Affordability Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past ... Read More
Mid-Year Housing Market Update: Three Things to Know Today
Mid-Year Housing Market Update: Three Things to Know Today | MyKCMShifting trends and industry-leading research are pointing toward some valuable projections about the status of the housing market for the rest of the year. If you’re thinking of buying or selling, or if you just want to know what experts are saying is on the horizon, here are the top three things to put on ... Read More