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    Winchester Real Estate Search

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    Winchester Real Estate

    31351 Mccartney Drive, Winchester image
    31351 Mccartney Drive, Winchester $580,000

    This gorgeous turnkey home boasts an abundance of space and natural light within a very flexible floor plan. Rich laminate flooring leads you through the downstairs livin...

    • 6 Beds
    • 3 Baths
    • SW21016370 MLS
    • Coming Soon Status
    32185 Daisy dr, Winchester image
    32185 Daisy dr, Winchester $629,900

    This house has it all, Open floor plan ,granite countertops , walking panty ,Wood floors, Shutters, surround sound, Pool/spa, PAID OFF SOLAR!!!!!!, Newer HAVC, Loft area,...

    • 4 Beds
    • SW21015457 MLS
    • Active Status
    31755 Granville Drive, Winchester image
    31755 Granville Drive, Winchester $490,000

    This Winchester one-story home offers granite countertops and a two-car garage.

    • 4 Beds
    • 2 Baths
    • IV21015425 MLS
    • Active Status
    32388 Apricot Tree Road, Winchester image
    32388 Apricot Tree Road, Winchester $645,000

    Gorgeous 5 bedroom 3.5 bath pool home in the highly desirable Adeline's Farm development. Beautiful mill work through out including crown molding, barn wood shiplap walls...

    • 5 Beds
    • 4 Baths
    • SW21014583 MLS
    • Coming Soon Status
    35636 Loggins Court, Winchester image
    35636 Loggins Court, Winchester $479,990

    Lovely REMODELED Winchester Home has tons of upgrades, natural lighting and is perfect for your family!! Stunning 4 bedroom, 3 full bathrooms with a 3 CAR tandem garage, ...

    • 4 Beds
    • 3 Baths
    • SW21013718 MLS
    • Coming Soon Status
    31913 Silk Vine Drive, Winchester image
    31913 Silk Vine Drive, Winchester $485,000

    BEAUTIFUL AND HARD TO FIND *SINGLE STORY HOME* WITH A FABULOUS OPEN FLOOR PLAN. AS YOU ENTER THE FRONT DOOR, YOU WILL BE GREETED BY A LONG AND WIDE ENTRY WAY WITH TWO BE...

    • 4 Beds
    • 3 Baths
    • SW21010803 MLS
    • Coming Soon Status
    32192 Daisy Drive, Winchester image
    32192 Daisy Drive, Winchester $539,900

    Absolutely stunning RV parking view home. Fantastic floorplan with a formal living room and dining room, huge family room with a cozy fireplace , spacious kitchen with to...

    • 5 Beds
    • 3 Baths
    • SW21012973 MLS
    • Active Status
    32849 Red Carriage Road, Winchester image
    32849 Red Carriage Road, Winchester $519,900

    Welcome to Adeline Farms, a highly sought-after community boasting 5 parks, a walking trail, and NO HOA! This adorable 3 bed, 2.5 baths, w/ bonus room, 2,050 sq. ft. hom...

    • 3 Beds
    • 3 Baths
    • SW21007107 MLS
    • Active Status
    32935 Grand Avenue, Winchester image
    32935 Grand Avenue, Winchester $359,900

    Look no further......Over an acreage of horse property close to Diamond Valley lake with enjoyment for those who love fishing. For all you golf lovers there are multiple ...

    • 3 Beds
    • 1 Baths
    • EV21011772 MLS
    • Active Status
    31653 Pompei Lane, Winchester image
    31653 Pompei Lane, Winchester $499,900

    Ready To Move In 2490 Sq. Ft. 4 Bedroom, 3 Bath (Plus A Large Loft) Two Story Winchester Home In Temecula Unified School District. New Luxury Vinyl Plank Flooring. New Ca...

    • 4 Beds
    • 3 Baths
    • SW21011807 MLS
    • Active Status
    888 California Ave, Winchester image
    888 California Ave, Winchester $16,000,000

    237.29 acres of incredible potential! Prime corner location at the intersection of California, Stowe, and Stetson. Strategically situated near the future realigned SR-79 ...

    • OC21007057 MLS
    • Active Status
    Coventry Lane, Winchester image
    Coventry Lane, Winchester $500,000

    ****4.45 Acres of prime vacant land **** Winchester @ Coventry (just north of Keller Rd.) Zoned A-1-10 with Land Use Designation RR (Rural Residential) offers so many u...

    • SW21010392 MLS
    • Active Status
    35117 Lost Trail Court, Winchester image
    35117 Lost Trail Court, Winchester $549,900

    Come see this home nestled in a quiet neighborhood with extremely low HOA fee and in prime condition. This property is perfect for hosting including a large backyard with...

    • 4 Beds
    • 4 Baths
    • SW21004821 MLS
    • Active Status
    32143 Spun Cotton Drive, Winchester image
    32143 Spun Cotton Drive, Winchester $550,000

    Gorgeous home located in the heart of Winchester! This home is within the highly rated Temecula Unified School District and features a large floor plan, upstairs loft, sp...

    • 4 Beds
    • 3 Baths
    • IV21008139 MLS
    • Coming Soon Status
    36761 PEBLEY Court, Winchester image
    36761 PEBLEY Court, Winchester $759,000

    BEAUTIFUL OPEN CONCEPT MODERN HOME HAS IT ALL!!! ENTERTAINERS DREAM - PRIVATE SALT WATER POOL & SPA WITH AUTOMATION, OUTDOOR KITCHEN COMPLETE WITH BULL BBQ APPLIANCES, TV...

    • 5 Beds
    • 3 Baths
    • SW21006303 MLS
    • Active Status
    34463 Hillingdon Court, Winchester image
    34463 Hillingdon Court, Winchester $499,999

    Gorgeous Four Bedroom, Pool size Lot 8,276 Lot, Plus Gated RV Parking, This Property is Turn Key! New Everything! Luxury LVP Flooring 25-year warranty, Newly painted, Ne...

    • 4 Beds
    • 3 Baths
    • SW21005856 MLS
    • Coming Soon Status
    31948 Golden Willow Court, Winchester image
    31948 Golden Willow Court, Winchester $572,198

    Impeccable 3 bedroom (+ office ) single story in French Valley Estates! Cul-de-Sac location with large lot and no rear neighbors! Beautiful curb appeal. Custom gate on c...

    • 3 Beds
    • 3 Baths
    • SW21005439 MLS
    • Active Under Contract Status
    36444 Seine Court, Winchester image
    36444 Seine Court, Winchester $525,000 ▲

    Curtain rising!!! ***CAPTIVATING 5 BEDROOM SINGLE STORY, LOW TAXES, LOW HOA'S AND PURE PERFECTION*** As you walk up to the front porch you enter your new home and greeted...

    • 5 Beds
    • 2 Baths
    • SW21004653 MLS
    • Active Under Contract Status
    35872 Gerard Dou Street, Winchester image
    35872 Gerard Dou Street, Winchester — 21854 $455,000

    Single level home near French Valley airport with 4 BR and 2 BA. Excellent Rated Temecula Valley School District. Plenty of space for entertaining both inside and outside...

    • 4 Beds
    • 2 Baths
    • SW21005042 MLS
    • 21854 Bldg.
    • Active Under Contract Status
    36526 Sauterne Street, Winchester image
    36526 Sauterne Street, Winchester $419,900

    New on the Market!! Don't Miss this highly desirable Winchester Single Story located close to shopping and all that Temecula has to offer. A walkway through the Front Cou...

    • 3 Beds
    • 2 Baths
    • SW21004555 MLS
    • Active Under Contract Status
    34310 Rawson Road, Winchester image
    34310 Rawson Road, Winchester $1,550,000

    Between two lakes on 16.6 acres just east of Temecula with Panoramic Views. Looking for a private family compound or corporate retreat.? Maybe your own VRBO / AirBB ranc...

    • 6 Beds
    • 7 Baths
    • SW21001496 MLS
    • Active Status
    36364 White Ridge Road, Winchester image
    36364 White Ridge Road, Winchester $639,900

    Your new home sits on a huge lot with four bedrooms, three bathrooms, a private pool/spa, outdoor BBQ, four car garage, office, dining room, loft, and tons of upgrades. T...

    • 4 Beds
    • 3 Baths
    • SW21000262 MLS
    • Active Under Contract Status
    31582 Laki Court, Winchester image
    31582 Laki Court, Winchester $524,900

    You'll love this gorgeous, professionally-designed 2-story home with a private patio which invites comfort, and exudes modern elegance. With 5 bedrooms, 3 full baths & a...

    • 5 Beds
    • 3 Baths
    • SW20264602 MLS
    • Active Under Contract Status
    37850 Pourroy Road, Winchester image
    37850 Pourroy Road, Winchester $919,000 ▼

    LOCATION and VIEWS!!! Looking for a peaceful place to live in? Well, you’ve found it!!! Opportunity knocks in the heart of Winchester. The seller is providing up to a $10...

    • 4 Beds
    • 4 Baths
    • SW20263857 MLS
    • Active Status
    36332 Emilia Lane, Winchester image
    36332 Emilia Lane, Winchester $389,000

    The best location in the complex! Pool and tot lot just a few feet away. $12,000 in recent upgrades! Brand new wood plank tile flooring throughout first floor and new ca...

    • 3 Beds
    • 3 Baths
    • SW20263886 MLS
    • Active Under Contract Status
    33169 Rustlers Road, Winchester image
    33169 Rustlers Road, Winchester $414,900

    This CHARMING TURNKEY Single Story home is located in the newly built neighborhood of Winchester Trails! The pride by its first and ONLY owner of this STRIKING 3 Bedroom ...

    • 3 Beds
    • 2 Baths
    • CV20262743 MLS
    • Active Under Contract Status
    32556 Marietta Court, Winchester image
    32556 Marietta Court, Winchester $769,900

    VIEWS,VIEWS,VIEWS!!! Don't miss this spectacular 5BD 4.5BA POOL home tucked away on a quiet Cul-De-Sac in the desirable Morningstar Ranch! Every day feels like a Hawaiian...

    • 5 Beds
    • 5 Baths
    • SW20257400 MLS
    • Active Under Contract Status
    34150 Arthur Road, Winchester image
    34150 Arthur Road, Winchester $580,000

    Privacy and tranquility at its finest! Just Remodeled 3 Bed / 2 Bath manufactured home on 20+ Acres in Winchester. This beautiful home features an open floor plan with va...

    • 3 Beds
    • 2 Baths
    • SW20256531 MLS
    • Active Status
    32820 Red Carriage Road, Winchester image
    32820 Red Carriage Road, Winchester $505,000

    BEAUTIFUL SINGLE STORY 3 bedroom 2 bathroom home with no rear neighbors located in the highly sought after community of Adeline’s Farm in Winchester. As you enter this ad...

    • 3 Beds
    • 3 Baths
    • SW20256086 MLS
    • Active Under Contract Status
    35600 Ginger Tree Drive, Winchester image
    35600 Ginger Tree Drive, Winchester $579,000

    Beautiful single-story home located in the charming, rural-suburban setting of Morningstar Ranch! Atrium-style entry. Bright, open floorplan featuring entertainment style...

    • 4 Beds
    • 3 Baths
    • IG20253414 MLS
    • Active Under Contract Status
    37515 Green Knolls Road, Winchester image
    37515 Green Knolls Road, Winchester $899,000

    Looking for views, country living & close to the city this is the home for you. Perfect property for all your animals. Hop of your horse and ride plenty of open space to ...

    • 4 Beds
    • 4 Baths
    • SW20246362 MLS
    • Active Under Contract Status
    26940 Buffalo Road, Winchester image
    26940 Buffalo Road, Winchester $431,000 ▲

    BACK ON THE MARKET!! This Gorgeous home is completely turn-key. It features 4 bedrooms, 2 bathrooms and just over 2300 square feet with a modern open-concept. It has lami...

    • 4 Beds
    • 2 Baths
    • SW20254055 MLS
    • Active Under Contract Status
    32544 Juniper Berry Drive, Winchester image
    32544 Juniper Berry Drive, Winchester $649,999

    Fabulous home located in the beautiful community of Adeline's Farm. Boasting nearly 4000 sf, this home was built for comfort and privacy. As you enter in, you'll meet the...

    • 4 Beds
    • 4 Baths
    • SW20253761 MLS
    • Active Status
    32531 Marietta Court, Winchester image
    32531 Marietta Court, Winchester $699,900

    Welcome home! Rare SINGLE STORY, POOL HOME w/ SOLAR located on a secluded Cul-De-Sac in the highly desirable community of Morningstar Ranch! This UPGRADED and Spacious 26...

    • 4 Beds
    • 3 Baths
    • SW20252162 MLS
    • Active Under Contract Status
    35362 Marabella Court, Winchester image
    35362 Marabella Court, Winchester $429,000

    Stunning 3 bedroom, 2 1/2 bathroom home located in Winchester, in the gated community of Bella Sol. Near wineries, schools and more. Beautiful front curb appeal and a ni...

    • 3 Beds
    • 3 Baths
    • SW20251198 MLS
    • Active Under Contract Status
    32040 Wyatt Lane, Winchester image
    32040 Wyatt Lane, Winchester $498,990 ▼

    This single-story home features a Spanish-style exterior and is nestled in the beautiful Winchester Valley. The open concept floor plan includes a generous great room tha...

    • 3 Beds
    • 2 Baths
    • IV20249073 MLS
    • Active Status
    32016 Wyatt Lane, Winchester image
    32016 Wyatt Lane, Winchester $549,990 ▼

    This single-story home features a Prairie-style exterior and occupies a large homesite on a cul-de-sac. Moving inside, the spacious open concept floor plan includes 9-ft....

    • 4 Beds
    • 2 Baths
    • IV20249061 MLS
    • Active Status
    34645 Brookridge Lane, Winchester image
    34645 Brookridge Lane, Winchester $510,990 ▼

    Ever dreamed of living in an actual Model Home? Here's your chance!!!! This 3 bedroom, 2 bathroom home is completely decked out with stunning quartz countertops in the ki...

    • 3 Beds
    • 2 Baths
    • IV20248428 MLS
    • Active Status
    34621 Brookridge Lane, Winchester image
    34621 Brookridge Lane, Winchester $699,990 ▼

    Ever dreamed of living in an actual Model Home? Here's your chance!!!! This spacious 5 Bedroom, 3 bath home is completely decked out. Home showcases beautiful accordion d...

    • 5 Beds
    • 3 Baths
    • IV20248331 MLS
    • Active Status
    34609 Brookridge Lane, Winchester image
    34609 Brookridge Lane, Winchester $675,990 ▼

    Ever dreamed of living in an actual Model Home? Here's your chance!!!! This spacious 5 Bedroom, 3.5 bath home is completely decked out. Home showcases beautiful accordion...

    • 5 Beds
    • 3 Baths
    • IV20248317 MLS
    • Active Status
    34349 Solstice Street, Winchester image
    34349 Solstice Street, Winchester — Brisa $461,990 ▼

    New ONE STORY home in Winchester. This one story home is located in the TEMECULA school district. The 3 bedrooms and 2 baths with large, open concept feels grand. From ...

    • 3 Beds
    • 2 Baths
    • SW20247684 MLS
    • Brisa Bldg.
    • Active Status
    37858 Halifax Lane, Winchester image
    37858 Halifax Lane, Winchester $285,000 ▼

    Breath Taking Panoramic Lake Views! This Prime Hill Top 5.16 (+/-) Acre Lot is Ready to Build your Custom Dream Home, next to the Famous Temecula Wine Country. The Lot is...

    • SW20242950 MLS
    • Active Status
    28200 Wecott Court, Winchester image
    28200 Wecott Court, Winchester $1,100,000

    Welcome to Wescott Court! Located in the heart of Winchester. The amount of opportunity in this 4 parcel cul de sac is endless! Currently, there are 3 Manufactured homes,...

    • SW20241577 MLS
    • Active Status
    Green Avenue, Winchester image
    Green Avenue, Winchester $50,000

    Nearly 5 acres of hillside property with two rough, graded pads. It offers incredible, sprawling valley views of Winchester and Hemet Valleys. It's located conveniently c...

    • PW20238537 MLS
    • Active Status
    32705 Armoise Drive, Winchester image
    32705 Armoise Drive, Winchester $599,900

    This house features 15,246 square foot lot. This house has four bedrooms and three full bathrooms. The inside and out was recently painted with new carpet and flooring. T...

    • 4 Beds
    • 3 Baths
    • OC20237777 MLS
    • Active Under Contract Status
    Scott Rd, Winchester image
    Scott Rd, Winchester $390,998 ▼

    Here is your chance to build your dream ranch home in a growing area of Menifee & Winchester. This property is just over 4 acres with electric at the street and a well al...

    • SW20237447 MLS
    • Active Status
    32781 Lambeth Street, Winchester image
    32781 Lambeth Street, Winchester $524,900

    Welcome to this expansive home located in a highly desired community in Winchester. This home features an open and spacious floorplan with two downstairs bedrooms complet...

    • 5 Beds
    • 5 Baths
    • SW20233984 MLS
    • Active Under Contract Status
    234 Mazoe Street, Winchester image
    234 Mazoe Street, Winchester $800,000

    ENJOY THE COUNTRY LIVING with City Conveniences, Rare opportunity to own this Prime 15.7 Acres, 3 adjoining 5+ Acre Parcels, Level to very gentle rolling topo to Build yo...

    • SW20232733 MLS
    • Active Status
    5004 Mazoe Street, Winchester image
    5004 Mazoe Street, Winchester $285,000

    ENJOY THE COUNTRY LIVING with City Conveniences, Rare opportunity to own this Prime 5 Acres, Level to very gentle rolling topo to Build your Dream Estate Ranch or Farm, N...

    • SW20232703 MLS
    • Active Status
    5002 Pourroy Road, Winchester image
    5002 Pourroy Road, Winchester $240,000

    ENJOY THE COUNTRY LIVING with City Conveniences, Prime 5.6 Acres, Level to very gentle rolling topo to Build your Dream Estate Ranch or Farm, Nice buildable lot off of Po...

    • SW20232665 MLS
    • Active Under Contract 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

    Four Expert Views on the 2021 Housing Market | MyKCM

    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

    • Why Hire a Realtor
    • Selling Your Home
    • Market Report
    • Property Valuation

    Is This the Year to Sell My House?

    Is This the Year to Sell My House? | MyKCM

    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

    • Temecula
    • Murrieta
    • Menifee
    • Winchester
    • Wildomar
    • Lake Elsinore
    • Canyon Lake

    Owning a Home Is Still More Affordable Than Renting One

    Owning a Home Is Still More Affordable Than Renting One | MyKCM

    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

    • Why Hire a Realtor
    • Get Pre-Approved
    • Buying a Home
    • 3 Reasons to Buy

    Search Local Real Estate

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    Financial Fundamentals for Homebuyers 

    Financial Fundamentals for Homebuyers [INFOGRAPHIC] | MyKCM

    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

    What Experts Are Saying about the 2021 Job Market | MyKCM

    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

    Owning a Home Is Still More Affordable Than Renting One | MyKCM

    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.

     

     

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