Selling Your Home

Is It a Good Time to Sell My House?

Is It a Good Time to Sell My
House? | MyKCM

Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae shows that 57% of consumers believe now is a good time to sell.

Doug Duncan, Vice President and Chief Economist at Fannie Mae, explains:

Overall, the index's monthly increase was driven largely by a substantial jump in the share of consumers reporting that it's a good time to sell a home, with many citing favorable mortgage rates, high home prices, and low housing inventory as their primary rationale.

Normally, spring is the busiest season in the housing market – the time when many homeowners decide to list their houses. While this is obviously not a normal year since the pandemic is still very much upon us, experts are optimistic that consumer positivity around selling will lead to more homeowners making moves this year. Duncan continues to say:

We will pay close attention to see...

How Much Leverage Do Today's House Sellers Have?

How Much Leverage Do
Today's House Sellers Have? | MyKCM

The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%. There are 360,000 fewer single-family homes for sale today than there were at this time last year. This increase in demand coupled with such limited supply is leading to more bidding wars throughout the country.

Rose Quint, Assistant Vice President for Survey Research with the National Association of Home Builders (NAHB), recently reported:

The number one reason long-time searchers haven't made a home purchase is not because of their inability to find an affordably-priced home, but because they continue to get outbid by other offers.

A survey in the NAHB report showed that 40% of buyers have been outbid for a home they wanted to purchase. This is more than twice the percentage in 2019, which was 19%.

What does this mean for sellers today?

It means sellers have tremendous leverage when negotiating with buyers.

...

Three Ways Low Inventory Is a Win for Sellers

Three Ways Low Inventory Is a
Win for Sellers | MyKCM

The number of houses for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“There is no shortage of hopeful, potential buyers, but inventory is historically low.”

When the demand for homes is higher than what's available for sale, it's a great time for homeowners to sell their house. Here are three ways low inventory can help you win if you're ready to make a move this fall.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently entering into bidding wars for the houses they want to purchase. This buyer competition drives home prices up. As a seller, this can definitely work to your advantage, potentially netting you more for your house when you close the deal.

2. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which drives an increase in the equity you have in your home. In the latest ...

6 Reasons You'll Win by Selling with a Real Estate Agent This Fall

6 Reasons You'll Win by
Selling with a Real Estate Agent This Fall | MyKCM

There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you're considering selling on your own, known in the industry as a For Sale by Owner (FSBO), it's critical to consider the following:

1. Your Safety Is a Priority

Your family's safety should always come first, and that's more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings but your family's health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours for buyers, real estate professionals are equipped to follow the latest industry standards recommended by the National Association of Realtors (NAR) to help protect you and your family.

2. A Powerful Online Strategy Is a Must to Attract a Buyer

Recent studies from NAR have shown that, even before COVID-19, the first...

Homeowners: Now Is A Good Time To Sell Your House

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

Every month, the National Association of Realtors (NAR) releases their Seller Traffic Index as a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating.

As we can see in the following table, the number of people who moved last year is half of what the rate was in the 1980s.

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

...

Thinking of Selling Your House? This is a Perfect Time!

It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their homes on the market until then. The question is whether or not that is a good strategy this year.

The other listings that come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market during this season in comparison to the rest of the year? The National Association of Realtors (NAR) recently revealed the months during which most people listed their homes for sale in 2018. This graphic shows the results:

Thinking of Selling Your House? This is a Perfect Time! | MyKCM

The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list...

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips!

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips! | MyKCM

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?

Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips! | MyKCM

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

...

Why Houses DO NOT Sell in a Strong Market

Why Houses DO NOT Sell in a Strong Market | MyKCM

As we approach the end of the year, many homeowners find themselves asking the question, “If we’re currently in a strong real estate market, why won’t my house sell?

Below are the 5 most common reasons why a listing contract will expire:

1. The Price

Sometimes when the market is hot, homeowners attempt to set their listing price higher. Their hope is that a motivated buyer will be willing to pay any price for a house in their desired neighborhood! Sellers must remember, though, that in today’s market a house must be sold twice; first to the buyer and then to their bank.

A buyer can agree to pay the homeowner’s asking price, but after the bank conducts their appraisal, the price might need to be adjusted. The bank will only give the buyer a mortgage for the value of determined in the appraisal.

Sellers must also keep in mind that today’s homebuyers are well-educated. Before they look to buy a house, they have already seen many houses online. They’ve done their research on the neighborhoods they are interested in, including information on the school districts in the area.

They will know if your house seems overpriced and will not waste their time considering it. This is why it’s so important to make sure that your ...

The #1 Reason to Put Your House on The Market TODAY!

The #1 Reason to Put Your House on The Market TODAY! | MyKCM

The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true.

The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In fact, the inventory of homes for sale had fallen year-over-year for 36 consecutive months before posting a modest 0.5% gain last month and has had an upward impact on home prices.

NAR’s Chief Economist Lawrence Yun had this to say,

“It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels. Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.”

The few houses that are on the market are selling fast!...

Want to Sell Your House Faster? Don't Forget to Stage! [INFOGRAPHIC]

Want to Sell Your House Faster? Don’t Forget to Stage! [INFOGRAPHIC] | MyKCM

Some Highlights:

  • The National Association of Realtors surveyed their members & released the findings of their Profile of Home Staging.
  • 62% of seller’s agents say that staging a home decreases the amount of time a home spends on the market.
  • 50% of staged homes saw a 1-10% increase in dollar-value offers from buyers.
  • 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own.
  • The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room.

Contact the Marin Modern Team, your Marin County real estate connection, for assistance buying or selling a home in Marin County California.

...

4 Strategies For Selling a Home With Pets

4 Ways To Make Selling a Home With Pets EasierWhen selling a home, owning a pet can make it more difficult than it would be without one, but it isn’t impossible. While some people may recommend getting rid of pets when selling a home, no one should feel like they’re forced to kick their furry friends to the curb just because other people may not like them. Here are four strategies pet owners can use to help sell their home that don’t resort to parting ways with the most important part of the family.

1. Temporarily Relocate Pets During Showings

Having pets at home during a showing can be dangerous for the animal. Not only can they be exposed to people or children who don’t know how to interact with animals, but doors can accidentally be left open for them to get out and get lost. To avoid this, consider taking pets like dogs and cats to a kennel for a day so they’ll be somewhere safe. Or, if this isn’t an option, homeowners may also try asking friends or neighbors if they can watch over the pet until after the showings are over.

2. Hide the Pet’s things

When showing a home, it can be a good idea to go beyond just temporarily removing the pet from the home and also take some time to hide their things like food and water bowls, beds, and toys. This can be helpful because some buyers may think a home with pets is inherently damaged or flawed,...

What You Need to Know About FSBO Home Sales

5 Reasons FSBO Could Be a Disaster for SellersSelling a home without an agent might seem like a great way to save money. However, it has the potential to doom a sale from the start, or at least generate a lot of extra work for the seller. Here's what people need to know about for sale by owner (FSBO) home sales.

1. Selling Paperwork Is Complicated

Anyone who has gone through a home purchase knows that there is a ton of paperwork. Generally, it is the agent's job to identify the documents needed (which vary by state and the details of the home), help the seller fill them out correctly, and then send them to the buyer's agent for review and signature. Sellers who have no representative must either rely on their own savvy to march through the process and hope that they do not lose the advantage, or pay a lawyer to help them instead.

2. Marketing a Home Requires a Skilled Eye

Like many other business transactions, marketing a home for sale requires a complete package that is attractive to buyers. There are many aspects of the initial listing of the home that may fall beyond sellers' skill and knowledge. Setting the right price is paramount. Homes that are listed too high will languish on the market. Properties listed far too low result in a poorer investment for the seller, and this is common for FSBO. On their own, sellers have to figure out what are the best ways to stage the home for sale, and entice buyers to request a showing for a ...

Effective Marketing Strategies for Selling a Home

7 Ways to Market a Home for SaleSelling a home requires a solid marketing approach to get a good price without a long wait. When you and all the other home sellers in the market are all competing to sell homes to the same individuals, the right tactics could make all the difference. These tips help sellers determine how to market their homes ideally, to suit any buyer.

1. Hire an Experienced Agent

Although many people will sell a home at some point in their lives, it really is a professional activity. Hundreds of thousands of dollars changes hands in this transaction, which demands an expert hand. Hiring a real estate agent who has experience in the area will help sellers to understand the dynamics of the market in their region and local neighborhood, what buyers in the area expect to see, and how best to approach selling the home quickly.

2. Set Effective Pricing

Part of bringing on a professional to help sell a home is to determine the right price for the property. Homes that are listed too high are less likely to get buyer interest. Sellers that list the home far too low may make buyers wonder what is wrong with the property. Effective pricing ensures that buyers will seek more information once they see the list price, if they think the home may be right for them. An agent can do a market analysis for the neighborhood to select a sale price that is likely to match an appraisal.

...

Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised!

Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised! | MyKCM

CoreLogic’s latest Equity Report revealed that 675,000 US homeowners regained positive equity in their homes in 2017. This is great news for the country, as 95.1% of all mortgaged properties are now in a positive equity situation.

U.S homeowners with mortgages (roughly 63% of all the properties) have seen their equity increase by a total of $908.4 billion since the fourth quarter 2016, an increase of 12.2%, year over year.”

Price Appreciation = Good News for Homeowners

Frank Nothaft, CoreLogic’s Chief Economist, explains:

Home-price growth has been the primary driver of home-equity wealth creation. The CoreLogic Home Price Index grew 6.2 percent during...

Competition is Coming, Are You Thinking of Selling Your Home?

Competition is Coming, Are You Thinking of Selling Your Home? | MyKCM

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.

How will this impact buyers?

More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:

“This rise in single-family housing construction will help tame home price...

Selling Your Home In a Buyers Market? These Tips Can Help

How to Sell Your Home In A Buyer's MarketA buyer's market is what happens when there are many attractive homes on the market and not enough buyers to purchase them. This type of market creates conditions where home prices are low and buyers have their pick of many desirable houses. Selling a home under these conditions can be a challenge, because sellers have to take additional steps to ensure their home stands out to buyers. Homeowners who wish to sell their property in a buyer's market must do what they can to make their property stand out. These tips will help you attract buyers and make your Greenbrae home more competitive.

Boost Curb Appeal

First impressions are lasting impressions. Sellers who boost curb appeal before they sell can often increase their home's sale price by as much as $10,000 or $15,000. There are many ways to improve curb appeal and make your home more desirable. A few tips include:

  • Plant colorful annuals
  • Clean up yard debris
  • Clean or paint your home's siding
  • Trim your grass regularly

Many home sellers choose to hire a professional gardener during the home selling process. Hiring a gardener can help ensure that the yard will be in good condition even if the seller becomes too busy to maintain the yard personally.

Stage Your Property

Staging a home before putting...

The Ultimate Mover's Checklist

How to Handle Your Moving DeadlinesThere's really no way to completely avoid the stress of moving, but it is possible for people who have just purchased a home to lessen the chaos when they have the right plan in place. Making a checklist and sticking to it can be a lifesaver when buyers are in the thick of the chaos of moving to a new home. Buyers can use these tips to bring everything together so they (and their belongings) can get through it all in one piece.

At the Beginning of the Moving Process:

  • Sort through possessions
  • Research mover's quotes
  • Track correspondence
  • Order boxes/tape/bubble wrap

Ideally, these are the things buyers should do as soon as they know they're moving. Waiting to sort through and throw things away can be an overwhelming task when buyers also have to deal with the stress of finalizing real estate transactions, packing, and meeting with agents, lenders, and real estate attorneys. Make sure to keep all moving information (receipts, schedules, etc.) in either a physical or electronic location. When it comes to estimates from moving companies, make sure to get on-site written estimates rather than over-the-phone quotes to ensure that the quote will be honored.

In the Middle of the Moving Process:

  • Double- and triple-check dimensions for easy furniture transport
  • Pack rarely used items away
  • Label boxes...

Make the Most of Your Patio: 5 Ways to Create an Outdoor Living Space

Tips for Designing an Outdoor Living SpaceThe most valuable and desirable homes on the market offer buyers more than just beautiful gourmet kitchens with state-of-the-art appliances and bathrooms that are more akin to the spas that are found on resorts. While these indoor amenities are wonderful, many buyers today are looking for luxury properties that also have amazing outdoor living spaces.

Whether a homeowner lives in a quaint, intimate house or a sprawling estate, there are a few easy ways to transform a standard backyard into an exquisite outdoor living area.

Use Canopies to Create Both Shade and Privacy

Whether permanently installed or detachable after the season is over, canopies can transform a standard patio or deck into a private oasis for outdoor living. Canopies increase the comfort of an outdoor area by providing a naturally cool spot to relax in a Dillon Beach home, and they also create an atmosphere that is better for intimate gatherings of family members and friends. It allows people to spend time outside in their backyards, without feeling like they are on display for all of their neighbors at the same time. Canopies also add a stylish design element to any outdoor living space and can offer further opportunities for decorating with lights and other outdoor features.

Invest in Comfortable, Weather-Proof Furniture

Gone are the days when people placed a simple...

If You're Considering Selling, ACT NOW!!

If You’re Considering Selling, ACT NOW!! | MyKCM

Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

How did we finish 2017?

  1. New-home sales were at their highest level in a decade.
  2. Sales of previously owned homes were at their highest level in more than a decade.
  3. Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.

And Bloomberg Business just reported:

“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.”

And the National Association of Realtors revealed that buyer traffic is stronger this winter than it was during the spring buying...

What to Do About Unpermitted Work

How to Handle Unpermitted Work In Your HomeUnpermitted construction can be a problem for a homeowner who wants to sell their home. Knowing what constitutes unpermitted work and what you can do about it can help you get the most from your upcoming home sale.

What is Permitted Work? What is Unpermitted Work?

When your home undergoes a major renovation or repair, a permit needs to be pulled at your local city building agency. Once the permit is pulled, a local inspector will inspect the work to ensure that it is performed to code. Some types of renovations may even require two inspections, one while the project is taking place and one after the work is completed.

Unpermitted work is construction, renovation or repair that is done without a permit. This type of work may not be performed to code and may therefore be unsafe, unsound or simply non-functional.

Why is Unpermitted Work a Problem?

Unpermitted work can put people at personal risk. Poorly completed electrical work, for example, can cause an electrical fire in the home. Improperly installed plumbing can lead to health hazards like sewer backup or mold on the walls. In addition, unpermitted work can make selling a home difficult. Work that is not performed to code is difficult to insure and many mortgage lenders will not lend money to home buyers who wish to purchase a home with unpermitted construction....

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