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3 Reasons to Be Optimistic about Real Estate in 2021 | MyKCM

This year will be remembered for many reasons, and optimism is one thing that’s been in short supply since the spring. We’re experiencing a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. The challenges brought on by the health crisis have also forced many homeowners to reevaluate their space and what they need in a home going into 2021. So, experts are forecasting that next year is one in which we can be optimistic about real estate for three key reasons.

1. The Economy Is Expected to Continue Improving

Tim Duy from the University of Oregon puts it this way:

“There is nothing fundamentally ‘broken’ in the economy that needs to heal…there was no obvious financial bubble driving excessive

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Are Home Prices Headed Toward Bubble Territory? | MyKCM

Talk of a housing bubble is beginning to crop up as home prices have appreciated at a rapid pace this year. This is understandable since the appreciation of residential real estate is well above historic annual averages. According to the Federal Housing Finance Agency (FHFA), annual appreciation since 1991 has averaged 3.8%. Here are the latest 2020 appreciation numbers from three reliable sources:

  • FHFA: 7.8%
  • CoreLogic: 7.3%
  • Case-Shiller: 7%

It’s easy to jump to the conclusion that house appreciation is out of control in today’s market. However, we need to put these numbers into context first.

Inflation and the Comeback from the Housing Crash

Following the housing crash, home values depreciated dramatically from 2007-2011.

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Knowledge Is Power on the Path to Homeownership | MyKCM

Homeownership is on the goal list for many young adults, but sometimes it’s hard to know exactly how to get there. From understanding the homebuying process to pre-approval and down payment assistance options, uncertainty along the way can ultimately hold some buyers back.

Today, there are over 75 million Millennials and 67 million Gen Z’ers in the U.S., making up a significant number of both current and soon-to-be homebuyers. According to a recent Fannie Mae survey of more than 2,000 of these individuals:

“88% said they are confident they will achieve homeownership someday.”

In addition, the survey also reveals that for younger generations, the motivation to own a home may be more emotional than financial compared to previous

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Will Mortgage Rates Remain Low Next Year? | MyKCM

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time ever while making buying a home more and more attractive as the year progressed (See graph below):

When you continually hear how rates are hitting record lows, you may be wondering: Are they going to keep falling? Should I wait until they get even lower?

The Challenge with Waiting

The challenge with waiting is that you can easily miss this optimal window of time and then end up paying more in the long run. Last week, mortgage rates ticked up slightly. Sam Khater, Chief Economist at Freddie Mac, explains:

Mortgage rates jumped

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Think Smarter with Nick

As we head into cooler months and the holiday season, the Boston real estate market historically cools off a bit as well. Nick gives his thoughts on what we can expect this year as well as some tips for staying on top of the latest changes in Boston real estate.

How do you predict the market will trend as we head into cooler months in Boston?

Generally you can expect the real estate market to slow down during the winter months, especially if we get one of those terrible New England winters that makes you want to just sit on your couch with a blanket and binge watch Netflix until April.  With that said, this winter, like most of 2020, might be slightly different.  

There is still lots of demand for housing and with rates still remaining near

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Winter Will Bring a Flurry of Activity to the Housing Market | MyKCM

In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:

“It will be one of the best winter sales years ever.”

The typical winter slowdown in the housing market is simply not on the radar. Here’s why.

While today’s historically low mortgage rates are expected to remain low, they won’t be this low for much longer. This could be the last chance for homebuyers to secure such low rates, and they’re ready to take action. In a recent article, Bankrate explained:

“If you’re looking to buy a home…expect mortgage rates to remain

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Is it Safe to Sell My House Right Now? | MyKCM

In today’s real estate market, the buzz is all about how it’s a great time to sell your house. Buyer demand is high, and there simply aren’t enough homes available to buy to meet that growing need. This means now is the time to make a move so you can close the deal on your ideal terms.

Even in today’s strong sellers’ market, there are homeowners who are choosing not to sell due to ongoing concerns around the health crisis, financial uncertainty, and life in general. According to Zillow, here are the top three reasons homeowners who are thinking of selling sometime in the next three years are not putting their houses on the market right now:

  • 34% - Life is too uncertain right now
  • 31% - Financial uncertainty
  • 25% - COVID-19 health
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Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, today announced its first franchised office on Hawaii Island. The independently owned and operated real estate office will operate as Berkshire Hathaway HomeServices Hawai’i Island Properties.

The Hawaii Island entity was developed by Berkshire Hathaway HomeServices Maui Properties, an established network member since 2014.

“As the only current Berkshire Hathaway HomeServices network member on the Island of Hawai’i, our initial goal is to gain market share in the West Hawai'i real estate market,” said Alex Iskenderian, CEO of Hawai'i Island Properties. “We feel confident that our full service, hands-on approach coupled with the

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Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, today announced its second franchisee in Mexico. The company will operate as Berkshire Hathaway HomeServices Cancun Properties.

Serving a luxury locale with prestige service, Cancun Properties made the decision to join the Berkshire Hathaway HomeServices network “because of the professionalism and the name behind it,” said Luis Mirabent, CEO of Cancun Properties. “We are known for the type of properties we manage, the service we provide and the prestige that we have achieved over the last 15 years. Berkshire Hathaway HomeServices is a great match for us because the network shares our mission to provide quality and service to exceed

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Two Important Impacts of Home Equity | MyKCM

Equity continues to rise, helping American homeowners secure a much more stable financial future. According to the most recent data from CoreLogic, the average homeowner gained $9,800 in equity over the past year. In addition, experts project 2020 home prices to continue rising. With prices going up, equity gains will also keep accelerating. Black Knight just reported:

“The annual percent change in the overall median existing single-family-home price has skyrocketed in the past several months, with recent numbers at three to five times higher than rates seen in the past several years.”

Jeff Tucker, Senior Economist at Zillow, just qualified recent price increases as “jaw-dropping” and “within a hair's breadth of double-digit

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