Marin County Real Estate Blog

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....

3 Ways Home Equity Can Have a Major Impact on Your Life

3 Ways Home Equity Can Have a
Major Impact on Your Life | MyKCM

There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years. CoreLogic indicated that equity increased for the average homeowner by $17,000 in the last year alone. ATTOM Data Solutions, in their latest U.S. Home Equity Report, revealed that 30.2% of the 59 million mortgaged homes in the United States have at least 50% equity. That doesn't even include the 38% of homes that are owned free and clear, meaning they don't have a mortgage at all.

How can equity help a household?

Having equity in your home can dramatically impact your life. Equity is like a savings account you can tap into when you need cash. Like any other savings, you should be sensible in how you use it, though. Here are three good reasons to consider using your equity.

1. You're experiencing financial hardship (job loss, medical expenses, etc.)

Equity gives you options during difficult financial times....

3 Ways You'll Win When You Buy a Home This Year

3 Ways You'll Win When You
Buy a Home This Year | MyKCM

There are so many great reasons to purchase a home, and over the past year, we've realized more of them than we ever thought possible. If you're a first-time homebuyer, having a home of your own can give you a greater sense of security and accomplishment in a time that's largely uncertain. If you're a repeat buyer looking for your dream home, making a move might give you the space or features you need to find greater success and happiness in a new normal way of life. Whatever your motivations are, here are three reasons why becoming a homeowner now may help you win big in the long run.

1. Buying a Home Is a Great Investment

Several recent reports indicate that real estate is still a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps you build equity, a type of forced savings that grows your net worth. According to the latest Equity Report from ATTOM Data Solutions:

The count of equity-rich properties in the fourth quarter of 2020 represented 30.2 percent, or about...

Why Owning a Home Is a Powerful Financial Decision

Why Owning a Home Is a
Powerful Financial Decision | MyKCM

In today's housing market, there are clear financial benefits to owning a home: increasing equity, the chance to build your net worth, and appreciating home values, just to name a few. If you're a renter, it's never too early to think about how homeownership can propel you toward a stronger future. Here's a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater financial security and savings.

1. You Won't Always Have a Monthly Housing Payment

Personal finance advisor Dave Ramsey explains:

Every payment brings you closer to owning the house. When you pay your rent, that money is spent. Gone. Bye. Not returning. But when you pay your mortgage, you work toward full ownership.

As a homeowner, you can eventually eliminate the monthly payment...

Current Homes for Sale
Southern Marin
City # Price Range
Belvedere 13 $2.8m - $23.5m
Mill Valley 40 $895k - $12.5m
Sausalito 8 $490k - $4.0m
Tiburon 25 $915k - $17.8m
Central & North Marin
City # Price Range
Corte Madera 6 $655k - $2.4m
Fairfax 7 $795k - $3.5m
Greenbrae 9 $629k - $2.4m
Kentfield 6 $1.6m - $18.0m
Larkspur 2 $475k - $2.0m
Novato 39 $110k - $4.5m
Ross 3 $2.9m - $7.3m
San Anselmo 14 $725k - $7.0m
San Rafael 69 $95k - $6.2m
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