Selling Your Home
Have you been thinking about selling your home and buying another? Are you concerned about how to “time the market” so that you make the most of both transactions?
When you're looking for a partner to help you with the complexities of selling your home, you want an experienced real estate professional. The experience, dedication and strong communication you'll receive here will help ensure the successful and profitable sale of your home:
The Local Advantage - Take advantage of a broad spectrum of technologies and tools to support the sale of your home from start to close.
Internet Advertising - Since the lion's share of home buyers start their search on the internet, top placement on search engines is essential. You'll gain access to placement on Google, Facebook, Bing, and many others. All actively marketing active listings to maximize exposure and bring a large number of potential buyers to view information about your home.
Email Campaigns - It's important to "work the network." We work to identify the right people to target your home-and get in touch with them by email to drive excitement and interest.
Personal Touch - Of course, technology alone won't sell your home. Face-to-face interaction provides the advantage to sell your home-and you won't have to worry about a thing. The details will be handled with care and constant communication, to ensure the marketing and sale of your home go smoothly.
Staging Your Home
Acquiring the highest market value and elevating your home above others in the same price range often comes down to first impressions. Did you know well placed furniture can open up rooms and make them seem larger than they are? Or that opening drapes and blinds and turning on all the lights can make a room seem bright and cheery?
Staging your home and removing clutter is a proven strategy for speeding up the sales process. Highlight your home’s strengths and give prospective buyers a sense of how they’d decorate rooms in the house. Here are some quick tips to help you stage your home to sell.
Get rid of ‘Stuff’ - You need to get rid of clutter. Sellers often forget about some of the biggest causes of clutter: couches, chairs, and tables. Having too much furniture in your home can make it seem small and cramped. Before we start showing your home, walk around and remove excess furniture items. You don’t need to get rid of everything, you want your house to look lived-in, just make sure you’re maximizing the space in each room. Remove excessive wall hangings and knick knacks (consider a temporary self-storage unit).
Cleaning up and Maintenance - Clean and/or paint walls and ceilings in neutral colors. Organize cabinets and closets. Clean all hanging light fixtures and ceiling fans. Shampoo carpets. Repair all plumbing leaks, including faucets and drain traps.
Lighting - Great lighting is crucial for making your home look warm and welcoming. If you notice that some areas of your home are dark and dreary, increase the wattages of the lightbulbs in the fixtures and lamps. A good rule of thumb is to have a total of 100 watts of lighting for every 50 square feet of interior space. Try three different types of lighting per room: accent lighting (on a wall or table), task lighting (such as a reading or under-cabinet light), and ambient lighting (overhead).
Appliances - Okay, you might not be willing to spend thousands installing new appliances just for staging.
However, studies show that new appliances in the kitchen garner high returns for sellers, which means you stand to get a better price for your home.
Don't forget about yard maintenance
Keep the grass freshly cut and all the landscaping watered. Remove all yard clutter and garbage.
Weed and apply fresh mulch to garden beds if needed. Clean windows inside and out. Wash or paint home's exterior. Tighten and clean all door handles. Ensure gutter and downspouts are firmly attached.
Resort Style Living in this prestigious 55+ Community of The Oasis. This charming home features 1690 sq ft of open living space, plantation shutters throughout the home, ...
- 2 Beds
- 2 Baths
- SW21016579 MLS
- Active Status
Beautiful 5 Bedrooms 3 Bath house in Lake Village Community. Situated on a quiet Cul-de-sac with walking distance access to the lake and community amenities. Nice floor p...
- 5 Beds
- 3 Baths
- SW21015472 MLS
- Active Status
None
- 5 Beds
- SB21016223 MLS
- Active Status
Must see. Seller states legal mother in law suite .To many amenities to mention. Closet/safe room, butlers pantry,Recently remodeled kitchen with top end appliances /upg...
- 6 Beds
- 4 Baths
- SB21016325 MLS
- Active Status
Welcome home to this charming SINGLE STORY home in Murrieta, CA with PAID OFF SOLAR! This three bedroom and two full bath home offers a wide open floor plan and is loade...
- 3 Beds
- 2 Baths
- SW20249656 MLS
- Coming Soon Status
This is your opportunity to obtain a rare 1 story condo on the 1st LEVEL that offers 3 bedrooms and 2 bathrooms. This single story home is located in the well maintained...
- 3 Beds
- 2 Baths
- IV21016278 MLS
- Coming Soon Status
None
- 3 Beds
- 3 Baths
- SW21016430 MLS
- Active Status
Incredible opportunity to own a beautiful Single Story home in the desirable neighborhood of The Greens with views of the beautiful lake on The Golf Club of Rancho Califo...
- 3 Beds
- 2 Baths
- SR21016131 MLS
- Active Status
This lovely home located in the beautiful gated community of Chardonnay Hills, sits on a 10,019 square foot corner lot. The covered porch at the double door entry welcome...
- 4 Beds
- 3 Baths
- CV21016251 MLS
- Active Status
Welcome home! Located in the highly sought after 55+ community of The Colony in Murrieta, this highly UPGRADED home features 3 bedrooms, 2 full bathrooms, and an oversize...
- 3 Beds
- 2 Baths
- SW21015912 MLS
- Active Status
Pride of ownership is yours for the taking in this two story Temecula home with access to great Temecula schools, easy access to wineries, freeways, shopping, entertainme...
- 4 Beds
- 3 Baths
- SW21016167 MLS
- Coming Soon Status
Beautiful Teneja Ranch Coming Soon! POOL! Almost 5 Acres, Private Road and Gated! This amazing home has everything you can wish for, far enough away from the rat race, ...
- 2 Beds
- 3 Baths
- IG21016185 MLS
- Coming Soon Status
TURN-KEY HOME WITH RV PARKING! This 2-Bedroom, 2 Bath home HAS IT All! Nestled on an extra-large lot on a beautiful street, this home is meticulously maintained with num...
- 2 Beds
- 2 Baths
- SW21013941 MLS
- Coming Soon Status
Don't miss out on this charming single level home on a tree lined street. This 2 bedroom, 2 full bath home has a 2 car garage and a den with double doors. The primary bed...
- 2 Beds
- 2 Baths
- SW21014831 MLS
- Active Status
POSITIVELY PERFECT MENIFEE 4 BEDROOM, SINGLE STORY HOME WITH EVERYTHING YOU COULD ASK FOR.....BEAUTIFULLY APPOINTED, ONLY 3 YEARS OLD SITUATED ON A 13,000+ SQ. FT. LOT WI...
- 4 Beds
- 3 Baths
- PW21006242 MLS
- Active Status
Welcome to Arroyo Vista.. This lovely three bed, two bath Townhome features an open floor plan with an upgraded kitchen, 3 spacious bedrooms with an office L-cove, all of...
- 3 Beds
- 3 Baths
- SW21006585 MLS
- Coming Soon Status
Welcome to Oak Haven Estates where the owner has spent many years creating a special place where nature abounds and you can relax while drinking you favorite glass wine ...
- 3 Beds
- 2 Baths
- SW21016006 MLS
- Active Status
Crown Hill jewel! Fresh paint inside and out. Original owner built with more upgrades than the model! Custom granite counters, upgraded cabinets throughout the house i...
- 3 Beds
- 3 Baths
- SW21015986 MLS
- Coming Soon Status
This is your opportunity to purchase an amazing 17 acre lot in the beautiful and peaceful Temecula Wine Country. The property consists of two parcels, totaling 17 acres....
- SR21013134 MLS
- Active Status
Welcome home to Bella Vista, a Mediterranean styled home located in the exclusive, beautiful La Cresta Community on the Santa Rosa Plateau. There is something very relaxi...
- 4 Beds
- 4 Baths
- SW21015690 MLS
- Active Status
Incredible 5+acre opportunity in the heart of Temecula's wine country! Stunning views and soft-rolling topography throughout. Limitless potential; perfect space for a hor...
- 3 Beds
- 3 Baths
- 210001581 MLS
- Active Status
Amazing 3 bedroom / 2 bathroom corner lot home offers you everything you are looking for. Walk inside to a spacious floor plan with a beautiful kitchen perfect for entert...
- 3 Beds
- 2 Baths
- SW21011641 MLS
- Active Status
Incredible Pool Home located in the highly sought after community of Crowne Hill. Over 3,300 Sqft with 5 bedrooms and 3 baths including a downstairs bedroom, full bath, a...
- 5 Beds
- 3 Baths
- IV21015464 MLS
- Coming Soon Status
Perfect home for young & old...with all the needed amenities! This home was built out as 3 bedrooms plus a loft (with lots of built-ins), a 3 car garage, a kitchen with ...
- 4 Beds
- 3 Baths
- SW21013881 MLS
- Coming Soon Status
This desirable single story Rancho La Vida Development home is situated on a corner lot. Home features 3 bedroom 2 baths on a 5,633 square foot lot. Enter into the livin...
- 3 Beds
- 2 Baths
- PW21014503 MLS
- Active Status
This is the perfect home for a young couple starting out, empty nesters, retirees, or investors looking to increase their portfolio. This beautiful home has low property ...
- 2 Beds
- 2 Baths
- IV21015508 MLS
- Active Under Contract Status
VIEW WITH POOL. The quintessential California dream awaits you. What an intro—professionally landscaped with stained concrete entry and covered porch and voila, the grand...
- 5 Beds
- 3 Baths
- SW21015062 MLS
- Active Status
Turn-Key Move in Newer Executive Home in Spencer's Crossing on a Cul-De-Sac in Murrieta. This home and property feature: Upgraded Large and Open Kitchen with Stone Coun...
- 5 Beds
- 3 Baths
- ND21013439 MLS
- Active Status
WHO IS LOOKING FOR AN UPGRADED POOL HOME IN MURRIETA ? - CORNER LOT ON CUL-DE-SAC - shows like a model home - paid off solar - 5bed - over 3400 sq ft - open floor plan - ...
- 4 Beds
- 4 Baths
- SW21015006 MLS
- Active Status
Welcome to this Gorgeous Corner Lot home with a pool! Conveniently located to shopping, dining, temecula golf courses and only one mile away from the Pechanga casino! Tem...
- 3 Beds
- 3 Baths
- RS21015407 MLS
- Active Status
Beautifully upgraded home located in a quiet Murrieta neighborhood. No HOA! Home has a private entrance for a front room, makes a perfect in-law space or potential rental...
- 4 Beds
- 3 Baths
- SW21015369 MLS
- Coming Soon Status
Location! Location! Location! Discover why this beautiful home located on a spacious cul-de-sac lot is the one for you. Located near the clubhouse of The Golf Club at Ran...
- 4 Beds
- 3 Baths
- 210001989 MLS
- Active Status
Gorgeous 4 bedroom, 2.75 bathroom, 2 story home with a main floor bedroom in the Greer Ranch Community of Murrieta! Enjoy city lights and hills views, elegant archways, h...
- 4 Beds
- 3 Baths
- IG21015257 MLS
- Active Status
Amazing opportunity awaits you to build your custom home on this almost 10 acre lot with incredible views of Cleveland National Forest, Vail Lake Resort and surrounding r...
- SW21014821 MLS
- Active Status
Welcome Home to this STUNNING home on a cul-de-sac in Temecula's very desired Paloma Del Sol featuring community pools, spas, parks, sports courts and more! This 3 bedroo...
- 3 Beds
- 3 Baths
- SW21014844 MLS
- Coming Soon Status
This cozy and appealing single-story 1329 sq ft home with 3 bedrooms and 2 bathrooms overlooking Menifee Lakes golf course is perfect for a small family or couple The ho...
- 3 Beds
- 2 Baths
- SW21008529 MLS
- Active Status
**Professional Photos COMING SOON!** This well maintained cul-de-sac home located in highly desirable Great Oak High school district has an Indoor/outdoor flow allowing f...
- 4 Beds
- 3 Baths
- NDP2100775 MLS
- Active Status
You don't want to miss out on this amazing single story home located in the highly desirable community of Paseo Del Sol with OWNED solar. As you enter the home you will ...
- 3 Beds
- 2 Baths
- SW21014936 MLS
- Active Status
Gorgeous Morgan Valley Estates Home! A SPECTACULAR TURNKEY, SOLAR, POOL home with all the UPGRADES includes a sparkling pool w/ jacuzzi, sauna, outdoor custom gas fire pi...
- 4 Beds
- 4 Baths
- SW21014940 MLS
- Coming Soon Status
Amazing Opportunity to own a turnkey home located in South Temecula in the beautiful community of Wolf Creek. Main floor den, full bath, spacious dining room. Open gourme...
- 3 Beds
- 3 Baths
- SW21012582 MLS
- Active Status
Don't miss out on this Executive Estate in the sought after gated community of Greer Ranch. This lovely home sits on a 9000 square foot lot and is located at the end of ...
- 5 Beds
- 3 Baths
- PT21014542 MLS
- Active Status
ENJOY THE HACIENDA LIKE HOME IN 55 PLUS SENOR COMMUNITY FEATURING SPECIMAN ROSE BUSHES AND NATURAL ROCK GROUND COVER AND PROTECTED BY A LARGE FLOWERING MAGNOLIA TREE - WA...
- 2 Beds
- 2 Baths
- IV21014633 MLS
- Active Status
This gorgeous lot in Glenoaks Ranch Estates - Behind a Private Gate and partially landscaped with citrus trees, is ready for your custom home! This parcel has spectacular...
- SW21014725 MLS
- Active Status
This gorgeous home is located on community of Temeku Hills… Features 3123 Sqft with 5 Bedroom, 3 Bath, 3 car garage built in 2003. Enjoy resort style living with the man...
- 5 Beds
- 3 Baths
- SW21014689 MLS
- Coming Soon Status
This gorgeous 5 acre lot in Glenoaks Ranch Estates has some of the most spectacular views in all of the Temecula Wine Country!!! This parcel is partially landscaped with...
- SW21014658 MLS
- Active Status
Beautiful Paloma Del Sol home in the heart of Temecula. Home is turnkey and features formal living room with vaulted ceilings, ceramic tile flooring, lots of windows to l...
- 3 Beds
- 3 Baths
- SW21014677 MLS
- Active Status
This is a very well cared for home which features a front facing living room and a formal dining area which are separated by a walkway, giving more freedom to customize ...
- 3 Beds
- 2 Baths
- OC21014511 MLS
- Active Status
Meticulously maintained, this 4 bedroom/3 bathroom pool home includes a main floor bedroom and bath, and is ready for its new owners! Upgraded tile flooring and plush car...
- 4 Beds
- 3 Baths
- SW21013087 MLS
- Active Status
Spectacular home with views in the Redhawk Community of south Temecula is a must see! The flagstone walkway leads to the entry and immediately opens to the spacious livi...
- 4 Beds
- 3 Baths
- NDP2100756 MLS
- Active Status
Alta Murrieta's one of a kind Pool Home with RV parking. Low taxes and no HOA. This lovely Energy Efficient Home is Remodeled Top to Bottom! Upon Entry Notice Main Level ...
- 3 Beds
- 3 Baths
- SW21014334 MLS
- Active Status
This beautiful home is located in the highly desirable, established community of Central Park. Situated on an elevated large corner lot and adjacent to the CP clubhouse....
- 5 Beds
- 4 Baths
- SW21011602 MLS
- Coming Soon Status
BEAUTIFUL SINGLE STORY HOME IN CENTRAL MURRIETA WITH LOW TAXES AND NO HOA. SITUATED ON A CORNER LOT. HIGH CEILINGS IN LIVING/DINING COMBO. FAMILY AND MASTER INCLUDE HIGH...
- 3 Beds
- 2 Baths
- SW21014139 MLS
- Active Status
Absolutely Stunning!!! Entering the home you will immediately notice the open floor plan from the Kitchen, dining room, living room, breakfast nook. This single-story hom...
- 3 Beds
- 3 Baths
- SW21014136 MLS
- Active Status
Large parcel for homesite with panoramic views. Parcel is gentle rolling to hilly. The property was recently surveyed and has monument markers. The markers have been r...
- SW21014326 MLS
- Active Status
Situated in north Menifee, 28190 Sparacio is a stunning custom-built estate sprawled out over an acre of land, fenced and gated. The front portion of the property is a si...
- 4 Beds
- 3 Baths
- SW21013450 MLS
- Active Status
In the Rainbow Canyon Estates community of South Temecula is this gorgeous home with an in-ground swimming pool and spa. Enjoy your private oasis with the palapa complet...
- 4 Beds
- 3 Baths
- OC21014502 MLS
- Coming Soon Status
Welcome to Rancho Bella Vista, a highly desirable family community. This beautiful 3 bedroom/2.5 bath home is perfectly placed at the end of a quiet cul-de-sac within the...
- 3 Beds
- 3 Baths
- SW21004145 MLS
- Coming Soon Status
Honey, STOP the car! This beautiful 4bdrm/2.5 bath Murrieta pool home will check all the boxes. Gorgeous wood tile flooring, custom cabinetry and high ceilings are just a...
- 4 Beds
- 3 Baths
- SW21014401 MLS
- Active Status
Single-story home in highly sought after South Temecula, within the community of Paloma Del Sol. Enjoy the privacy of no-sight neighbors with this cul-de-sac street and a...
- 3 Beds
- 2 Baths
- SW21014271 MLS
- Coming Soon Status
Check out this beautifully remodeled , second story studio condo in Casita Del Sol. It shows like a model with new laminate flooring and tons of storage. Full bathroom ...
- 1 Beds
- 1 Baths
- SW21014352 MLS
- Active Status
Illuminated steps and a charming court yard welcome you into this sprawling Morgan Hill estate. As you enter, you are greeted with hardwood floors, high ceilings and a dr...
- 4 Beds
- 4 Baths
- SW21014079 MLS
- Active Status
Newly remodeled home in Senior Community. Updated colors, new flooring, Master bed and Bath have 36 inch entry doors, new ceramic shower with easy step entry. Central A/C...
- 2 Beds
- 2 Baths
- TR21014339 MLS
- Active Status
Model Home at Vaquero! This Teagan floor plan is a magnificent 5 bedroom/3 car garage home! Enter into the home from the covered front porch to 9Ft. Ceilings. Contemporar...
- 5 Beds
- 3 Baths
- EV21014318 MLS
- Active Status
Move-in ready home ready to be made yours in the Veranda at Bridlevale community. This home features vaulted ceilings, fresh paint, gorgeous wood vinyl flooring, recessed...
- 3 Beds
- 2 Baths
- SW21014100 MLS
- Pending Status
Now showing! Welcome to the highly sought after neighborhood of Mapleton with no HOA fees! Upon entry, this large home features a spacious great room and a beautiful new ...
- 4 Beds
- 3 Baths
- SW21014157 MLS
- Active Status
Looking for a lot with view to build your dream home? This one is the one for you with a panoramic view of the city, rolling hills and La Cresta Valley below. Surrounded...
- TR21014172 MLS
- Active Status
* * * Look No Further* * * This Gorgeous Two Story Home with a View Rests in The Highly Sought After Community of Audie Murphy Ranch. This Home Includes 4 Bedrooms, One B...
- 4 Beds
- 3 Baths
- SW21012515 MLS
- Active Status
Coming Soon! Recently Updated Beautiful 4/5 bedroom Menifee Home! This home is ideal for a growing or large family! Boasting 4 generously sized bedrooms, 3 bathrooms and ...
- 4 Beds
- 3 Baths
- SW21013780 MLS
- Coming Soon Status
Upgraded home in Vista Verde Murrieta! MUST SEE! Feature Newly bathroom and kitchen. Refinished counters, All windows are double pane, window coverings throughout, Newer ...
- 2 Beds
- 1 Baths
- OC21013058 MLS
- Active Status
VIEWS, VIEWS, VIEWS!!! THIS CHARMING Home has everything!!! VIEWS AND LOCATION!! In the Desirable Spring Knolls 55+ Community of Murrieta. Where YOU OWN THE LAND! This U...
- 2 Beds
- 2 Baths
- SW21013898 MLS
- Coming Soon Status
Like New Alegre Plan 2 at Paseo Del Sol. Turnkey townhome complete with modern appointments is exactly what you have been looking for. Original owners used, only a handfu...
- 3 Beds
- 3 Baths
- 210001768 MLS
- Active Status
Big Lot : Mountains View, Quiet place, Water and Electicity close by. Bring all offers.
- SW21014012 MLS
- Active Status
Coming Soon... Fly Home! This is a unique opportunity to own this beautiful Temecula Wine Country estate with expansive views. Enter your own impressive gate to the priva...
- 6 Beds
- 3 Baths
- SW21013672 MLS
- Coming Soon Status
Welcome to Tierra Shores, Menifee's quiet, gated neighborhood nestled in the surrounding foothills. This turnkey, beautifully upgraded SOLAR POWERED home is just over 2,5...
- 3 Beds
- 4 Baths
- SW21013654 MLS
- Active Status
Great backyard for kids and entertaining! This well maintained home is located in desirable Wolf Creek, just walking distance to award winning schools and parks. Wolf Cre...
- 3 Beds
- 3 Baths
- SW21013502 MLS
- Coming Soon Status
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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Four Expert Views on the 2021 Housing Market
The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead.
Lawrence Yun, Chief Economist, National Association of Realtors (NAR)
“In 2021, I think rates will be similar or modestly higher, maybe 3%...So, mortgage rates will continue to be historically favorable.”
Danielle Hale, Chief Economist, realtor.com
“We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.”
Robert Dietz, Senior Vice President and Chief Economist, National Association of Home Builders (NAHB)
“With home builder confidence near record highs, we expect continued gains for single-family construction, albeit at a lower growth rate than in 2019. Some slowing of new home sales growth will occur due to the fact that a growing share of sales has come from homes that have not started construction. Nonetheless, buyer traffic will remain strong given favorable demographics, a shifting geography of housing demand to lower-density markets and historically low interest rates.”
Mark Fleming, Chief Economist, First American
“Mortgage rates are expected to remain low for the foreseeable future and millennials will continue forming households, keeping demand robust, even if income growth moderates. Despite the best intentions of home builders to provide more housing supply, the big short in housing supply will continue into 2021 and likely keep house price appreciation flying high.”
Bottom Line
Whether you’re ready to buy or sell a home in 2021, if you’re planning to take advantage of the market this winter, let’s connect to talk about the opportunities available in our local market.
Home Selling Tips
Is This the Year to Sell My House?
If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why.
According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now is a good time to buy a home, while 59% feel it’s a good time to sell one:
“The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.”
As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house.
Why is now a good time to sell?
There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors (NAR), unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out.
With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season:
"The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates."
However, this sweet spot for sellers won’t last forever. As more homes are listed this year, this tip toward sellers may start to wane. According to Danielle Hale, Chief Economist at realtor.com, more choices for buyers are on the not-too-distant horizon:
“The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”
Bottom Line
If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Let’s connect today to determine the best next step when it comes to selling your house this year.
Market Report by City
Owning a Home Is Still More Affordable Than Renting One
If spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re not alone. You may be wondering, however, if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than rent one. Here’s why.
ATTOM Data Solutions recently released the 2021 Rental Affordability Report, which states:
“Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report.
That has happened even though median home prices have increased more than average rents over the past year in 83 percent of those counties and have risen more than wages in almost two-thirds of the nation.”
How is this possible?
The answer: historically low mortgage interest rates. Todd Teta, Chief Product Officer with ATTOM Data Solutions, explains:
“Home-prices are rising faster than rents and wages in a majority of the country. Yet, home ownership is still more affordable, as amazingly low mortgage rates that dropped below 3 percent are helping to keep the cost of rising home prices in check.”
In 2020, mortgage rates reached all-time lows 16 times, and so far, they’re continuing to hover in low territory this year. These low rates are a big factor in driving affordability. Teta also notes:
“It’s startling to see that kind of trend. But it shows how both the cost of renting has been relatively high compared to the cost of ownership and how declining interest rates are having a notable impact on the housing market and home ownership. The coming year is totally uncertain, amid so many questions connected to the Coronavirus pandemic and the broader economy. But right now, owning a home still appears to be a financially-sound choice for those who can afford it.”
Bottom Line
If you’re considering buying a home this year, let’s connect today to discuss the options that match your budget while affordability is in your favor.
Why Pre-Approval Is Key in 2021 Today's housing market is highly competitive for homebuyers, so it's critical to gain every advantage in the process that you can. Let's connect to make sure pre-approval is one of the first steps you take toward homeownership this year.
Home Buying Tips
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Financial Fundamentals for Homebuyers
![Financial Fundamentals for Homebuyers [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/01/21112814/20210122-MEM-1046x2231.png)
Some Highlights
- When you’re thinking about buying a home, there are a few key steps to take before you even start to look at houses.
- From saving for your down payment to getting pre-approved for a mortgage, you’ll want to make sure you keep your financial plan on track from the beginning.
- Let’s connect today to make sure you have an introduction to a trusted lender and the best possible real estate guidance as you begin your homebuying process.
What Experts Are Saying about the 2021 Job Market
Earlier this month, the Bureau of Labor Statistics (BLS) released their most recent Jobs Report. The report revealed that the economy lost 140,000 jobs in December. That’s a devastating number and dramatically impacts those households that lost a source of income. However, we need to give it some context. Greg Ip, Chief Economics Commentator at the Wall Street Journal (WSJ), explains:
“The economy is probably not slipping back into recession. The drop was induced by new restrictions on activity as the pandemic raged out of control. Leisure and hospitality, which includes restaurants, hotels, and amusement parks, tumbled 498,000.”
In the same report, Michael Pearce, Senior U.S. Economist of Capital Economics, agreed:
“The 140,000 drop in non-farm payrolls was entirely due to a massive plunge in leisure and hospitality employment, as bars and restaurants across the country have been forced to close in response to the surge in coronavirus infections. With employment in most other sectors rising strongly, the economy appears to be carrying more momentum into 2021 than we had thought.”
Once the vaccine is distributed throughout the country and the pandemic is successfully under control, the vast majority of those 480,000 jobs will come back.
Here are two additional comments from other experts, also reported by the WSJ that day:
Nick Bunker, Head of Research in North America for Indeed:
“These numbers are distressing, but they are reflective of the time when coronavirus vaccines were not rolled out and federal fiscal policy was still deadlocked. Hopefully, the recent legislation can help build a bridge to a time when vaccines are fully rolled out and the labor market can sustainably heal.”
Michael Feroli, Chief U.S. Economist for JPMorgan Chase:
“The good news in today’s report is that outside the hopefully temporary hit to the food service industry, the rest of the labor market appears to be holding in despite the latest public health challenges.”
What impact will this have on the real estate market in 2021?
Some are concerned that with millions of Americans unemployed, we may see distressed properties (foreclosures and short sales) dominate the housing market once again. Rick Sharga, Executive Vice President at RealtyTrac, along with most other experts, doesn’t believe that will be the case:
“There are reasons to be cautiously optimistic despite massive unemployment levels and uncertainty about government policies under the new Administration. But while anything is possible, it’s highly unlikely that we’ll see another foreclosure tsunami or housing market crash.”
Bottom Line
For the households that lost a wage earner, these are extremely difficult times. Hopefully, the new stimulus package will lessen some of their pain. The health crisis, however, should vastly improve by mid-year with expectations that the jobs market will also progress significantly.
Owning a Home Is Still More Affordable Than Renting One
If spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re not alone. You may be wondering, however, if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than rent one. Here’s why.
ATTOM Data Solutions recently released the 2021 Rental Affordability Report, which states:
“Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report.
That has happened even though median home prices have increased more than average rents over the past year in 83 percent of those counties and have risen more than wages in almost two-thirds of the nation.”
How is this possible?
The answer: historically low mortgage interest rates. Todd Teta, Chief Product Officer with ATTOM Data Solutions, explains:
“Home-prices are rising faster than rents and wages in a majority of the country. Yet, home ownership is still more affordable, as amazingly low mortgage rates that dropped below 3 percent are helping to keep the cost of rising home prices in check.”
In 2020, mortgage rates reached all-time lows 16 times, and so far, they’re continuing to hover in low territory this year. These low rates are a big factor in driving affordability. Teta also notes:
“It’s startling to see that kind of trend. But it shows how both the cost of renting has been relatively high compared to the cost of ownership and how declining interest rates are having a notable impact on the housing market and home ownership. The coming year is totally uncertain, amid so many questions connected to the Coronavirus pandemic and the broader economy. But right now, owning a home still appears to be a financially-sound choice for those who can afford it.”
Bottom Line
If you’re considering buying a home this year, let’s connect today to discuss the options that match your budget while affordability is in your favor.
