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REAL ESTATE INDUSTRY NEWS

US Real Estate News for Global Investors　3-8-2023

Posted By Yoshi Takita on March 08, 2023 in Global Real Estate

2 Things Sellers Need To Know This Spring A lot has changed over the past year, and you might be wondering what’s in store for the spring housing market. If you’re planning to sell your house this season, here’s what real estate experts are saying you should keep in mind. 1. Houses That Are Priced Right Are Still Selling Houses that are updated and priced at their current market value are still selling. Jeff Tucker, Senior Economist at Zillow, says: “. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.” The need to price your house right is so important today because the market has changed so much over the past year. Danielle Hale, Chief Economist at realtor.com, explains: “With a smaller pool of buyers today and more competition from other homes on the market, homesellers will likely need to adjust their price expectations in the market this spring.” While this spring housing market is different than last year’s, sellers with proper expectations who lean on a real estate expert for the best advice on pricing their house well are still finding success. And that’s great news if you’re thinking about selling. 2. Buyers Are Still Out There As mortgage rates have risen and remain volatile, some buyers have pressed pause on their plans. But there are still plenty of reasons people are buying homes today. Lisa Sturtevant, Chief Economist at Bright MLS, spells out the mindset of today’s buyers: “For some buyers, higher mortgage rates simply means buying a home is out of the question unless home prices fall. For others, higher mortgage rates will be a hurdle but ultimately will not keep them from getting back into the market after sitting on the sidelines for months.” That’s why, if you’re interested in selling your house this spring, it’s helpful to work with a real estate agent who can help connect you with those buyers who are ready to purchase a home. Bottom Line There are still clear opportunities for sellers this spring. If you’re wondering if it’s the right time to make a move, let’s connect today.

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Free Home Buyer Guide for Spring 2023

Posted By Yoshi Takita on March 07, 2023 in Global Real Estate

https://www.simplifyingthemarket.com/en/buyers/?a=3408-3b9ed25774d3a3cd8a693b89719f66d5

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US Real Estate News for Global Investors　3-6-2023

Posted By Yoshi Takita on March 07, 2023 in Global Real Estate

Is It Really Better To Rent Than To Own a Home Right Now? Is It Really Better To Rent Than To Own a Home Right Now? | MyKCM You may have seen reports in the news recently saying it’s better to rent right now than it is to own your home. But before you let that impact your decisions, you should understand what these claims are based on. A lot of the time, these reports are assuming things that aren’t realistic for the average household. For example, the methodology behind one of those reports says that renting is the smarter financial option because of the opportunity to invest money elsewhere. It assumes renters take the money they’d spend on costs tied to buying a home and put it in an investment portfolio. But here’s the thing – most people who rent aren’t making those investments. Ken Johnson, Co-Author of the BH&J National Price-to-Rent Index, explains: “One of the difficulties with the rent and reinvest model is many people . . . simply rent and spend the difference. . . . That’s wealth destroying.” The reason homeownership is one of the best investments you can make is the wealth it helps you build. That’s why there’s a significant difference between the net worth of the average homeowner and the average renter (see graph below): So, before you renew your rental agreement, think about the opportunity to build wealth that homeownership provides. Bottom Line If you’re unsure whether to continue renting or to buy a home, let’s connect to help you make the best decision.

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US Real Estate News for Global Investors　3-7-2023

Posted By Yoshi Takita on March 07, 2023 in Global Real Estate

Could a Multigenerational Home Be the Right Fit for You? Could a Multigenerational Home Be the Right Fit for You? | MyKCM During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR): “Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.” And citing data from Pew Research Center, the Wall Street Journal (WSJ) says: “. . . multigenerational living has made a comeback in recent years, particularly after the 2008 financial crisis and during the pandemic.” So, if buying a multigenerational home has crossed your mind, you aren’t alone. Depending on what stage of homeownership you’re in, there are different reasons it could be the right fit. The chart below shows responses to a recent survey from NAR about the reasons people have bought a multigenerational home: Whether your motives are financial or focused on the people you’ll share your home with, a multigenerational home has distinct advantages. It can make homeownership more affordable, and it can help you best support your loved ones. As Lautz explains: “Multi-generational home buying is a way for families to care for one another, support one another, and often buy a home that may have been previously out of reach. . . . The trend of multigenerational buying appears to be firmly established and one that could expand in the future.” Bottom Line If you’re ready to buy a house, consider the opportunities of a multigenerational home. Let’s connect so you can explore your options in our area.

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US Real Estate News for Global Investroers ３－２－２０２３

Posted By Yoshi Takita on March 03, 2023 in Global Real Estate

Where Will You Go After You Sell Your House? [INFOGRAPHIC] Where Will You Go After You Sell Your House? [INFOGRAPHIC] | MyKCM Some Highlights If you’re thinking of selling your house, be sure to explore all the options you have for your next home. Both newly built homes and existing homes offer plenty of unique benefits. If you have questions about the options in our area, let’s discuss what’s available and what’s right for you.

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US Real Estate News for Global Investroers 3-3-2023

Posted By Yoshi Takita on March 03, 2023 in Global Real Estate

Equity Gains for Today’s Homeowners Equity Gains for Today’s Homeowners | MyKCM Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates. How Equity Has Grown in Recent Years Because of the imbalance between how many homes were for sale and the number of homebuyers in the market over the past few years, home prices appreciated substantially. And while price appreciation has slowed this year, that doesn’t mean you’ve lost all the equity in your home. In fact, the latest Homeowner Equity Insights report from CoreLogic finds the average homeowner’s equity has grown by $34,300 over the past year alone. And if you’ve been in your home longer than that, chances are you have even more equity than you realize. While that’s the national number, if you want to know what happened in your area, look at the map below from the Federal Housing Finance Agency (FHFA). It shows on average how much home prices have risen over the past five years, which has been a major driver behind equity growth. Why This Is So Important Right Now While equity helps increase your overall net worth, it can also help you achieve other goals, like buying your next home. When you sell your current house, the equity you’ve built up comes back to you in the sale, and it may be just what you need to cover a large portion – if not all – of the down payment on your next home. So, if you’ve been holding off on selling, it may be time to find out how much equity you have and how it can help fuel your next move. Bottom Line Homeownership is a long game, and if you’re planning to make a move, the equity you’ve gained over time can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let’s connect.

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US Real Estate News for Global Investroers 2-27-2023

Posted By Yoshi Takita on March 01, 2023 in Global Real Estate

One Major Benefit of Investing in a Home One Major Benefit of Investing in a Home | MyKCM One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac: “Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.” With spring approaching, now’s a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional. The Largest Part of Most Homeowners’ Net Worth Is Their Equity You may be surprised to learn just how much of a homeowner’s net worth actually comes from owning their home. The National Association of Realtors (NAR) shares: “Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families. Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.” In other words, home equity does more to build the average household’s wealth than anything else. And according to data from First American, this holds true across different income levels (see graph below): Bottom Line One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth. Let’s connect today so you can start investing in homeownership.

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US Real Estate News for Global Investroers 2-28-2023

Posted By Yoshi Takita on February 28, 2023 in Global Real Estate

What You Should Know About Rising Mortgage Rates What You Should Know About Rising Mortgage Rates | MyKCM After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down. The recent uptick in rates has been driven by what’s happening with inflation. Joel Kan, Vice President and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains: “Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Reserve to keep monetary policy restrictive for a longer time.” The most recent weekly average 30-year fixed mortgage rate reported by Freddie Mac is 6.5%. It’s the third week in a row that rates have increased and puts them at the highest point they’ve been this year (see graph below): Advice for Home Shoppers If you’re thinking about pausing your home search because rates have started to go up again, you may want to reconsider. This could actually be an opportunity to buy the home you’ve been searching for. According to the MBA, mortgage applications declined by 13.3% in just one week, so it appears the rise in mortgage rates is leading some potential homebuyers to pull back on their search for a new home. So, what does that mean for you? If you stay the course, you’ll likely face less competition among other buyers when you’re looking for a home. This is welcome relief in a market that has so few homes for sale. Bottom Line Over the last few weeks, mortgage rates have risen. But that doesn’t mean you should delay your plans to buy a home. In fact, it could mean the opposite if you want to take advantage of less buyer competition. Let’s connect today to explore the options in our local market.

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US Real Estate News for Global Investors　2-24-2023

Posted By Yoshi Takita on February 24, 2023 in Global Real Estate

Checklist for Selling Your House This Spring [INFOGRAPHIC] Checklist for Selling Your House This Spring [INFOGRAPHIC] | MyKCM Some Highlights As you get ready to sell your house, there are specific things you can add to your to-do list. These include decluttering, taking down personal photos and items, and power washing outdoor surfaces. Let’s connect so you have advice on what you may want to do to get your house ready to sell this season.

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US Real Estate News for Global Investors　2-24-2023

Posted By Yoshi Takita on February 24, 2023 in Global Real Estate

Checklist for Selling Your House This Spring [INFOGRAPHIC] Checklist for Selling Your House This Spring [INFOGRAPHIC] | MyKCM Some Highlights As you get ready to sell your house, there are specific things you can add to your to-do list. These include decluttering, taking down personal photos and items, and power washing outdoor surfaces. Let’s connect so you have advice on what you may want to do to get your house ready to sell this season.

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