Sept. 17, 2020

September 2020 Summit County Real Estate Market Update

One of the biggest surprises of 2020 is the Summit County Real Estate Market. The momentum is still building. How did our market fare against the grim forecasts from earlier this year? Watch this video for great highlights in the market, how Summit County is finishing summer in residential sales, and what we have to look forward to.

 

Aug. 25, 2020

How Lodging Revenue is affecting Real Estate Investments

July 29, 2020

How Buyers can Edge out the Competition in Bidding Wars

Inventory is tight and the good deals go fast! How do you win when there are multiple offers on the home you love? High demand coupled with low inventory has created the phenomena of bidding wars in our market. If you are trying to buy, especially in a competitive market like Summit, there is a chance you will run into competing offers. Follow these great tips to help edge out the competition in a bidding war.

 

July 22, 2020

How to Save on your Monthly Mortgage and How Much Home Can I Afford?

July 20, 2020

Summit County Real Estate Market Update July 2020

How are showings? How fast are properties selling? What are second home owners looking for in the market right now? Check out this local real estate market update to get answers to your questions, and see how our Summit County Real Estate market is reacting.

 

June 15, 2020

June 2020 Summit County Colorado Market Update

What's the Real Estate market in Summit County looking like now that the country is opening back up for business? Find out now! Don't forget to ask for your personal market report for your area specifically.

June 11, 2020

New Listing! 2BR, 2BA in the heart of Breckenridge

FOR SALE

 

May 27, 2020

Why You would want a Comparable Market Analysis from a Realtor

Why You would want a Comparable Market Analysis from a Realtor

Making the most of the "social distancing" requirements proves to be an opportunity for additional education. And, once we can all come out of our quarantine - and depending on the length of time that happens to be - we can expect a very different real estate market - at least for some time. So, the question becomes how to navigate through that market and how to price homes correctly.

This past weekend, I completed the PSA, Pricing Strategy Advisor course to better prepare me to help my clients with home pricing. We'll be as prepared as we can be as we move forward. If you are looking to sell your home or buy a home, please give us a call.

What other reasons might you want a Comparable Market Analysis?

  • An opinion of value or price is prepared other than in pursuit of a listing or to assist you as a buyer in formulating a purchase offer.
  • The sellers are getting a divorce, and it is amicable (so far). One party wants to buy the other one out, so they need a price for the house.
  • The property is an estate, and the family might keep it—they want a price.
  • A consumer is questioning the assessed value on his home, used to calculate property taxes. In his location, assessed value is supposed to be the market value of the property, so he wants a price.

May 27, 2020

Why This Summer Is the 2020 Real Estate Season

Why This Summer Is the 2020 Real Estate Season

Why This Summer Is the 2020 Real Estate Season | MyKCM

With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.

Joel KanEconomist at The Mortgage Bankers Association (MBA) notes:

“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks…Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months.”

Additionally, according to Google Trends, which scores search terms online, searches for real estate increased from 68 points the week of March 15th to 92 points last week. As we can see, more potential homebuyers are looking for homes virtually.

What’s the Opportunity for Buyers?

Another reason buyers are coming back to the market, even with forced unemployment and stay-at-home orders, is historically low mortgage rates. Sam Khater, Chief Economist at Freddie Mac indicates:

“For the fourth consecutive week, the 30-year fixed-rate mortgage has been below 3.30 percent, giving potential buyers a good reason to continue shopping even amid the pandemic…As states reopen, we’re seeing purchase demand improve remarkably fast, now essentially flat relative to a year ago.”

With mortgage rates at such low levels and states gradually beginning to reopen, there’s more incentive than ever to buy a home this summer.

What’s the Opportunity for Sellers?

Finding a home to buy, however, is still a challenge, as this spring sellers removed many listings from the market. Though more people are now putting their houses up for sale this month as compared to last month, current inventory is still well below last year’s level.

According to last week’s Weekly Economic and Housing Market Update from realtor.com:

“Weekly Housing Inventory showed continued tightening. New Listings declined 28% compared with a year ago, as sellers grappled with uncertainty and hesitated bringing homes to market. Total Listings dropped 20% YoY, a faster rate than in prior weeks, leaving very few homes available for sale. As Time on Market was 15 days slower YoY, asking prices moved up 1.5% YoY.”

If you’re thinking of selling your house this summer, now may be your best opportunity. With so few homes on the market for buyers to purchase, this season may be the time for your house to stand out from the crowd. Trusted real estate professionals can help you list safely and effectively, keeping your family’s needs top of mind. Buyers are looking, and your house may be at the top of their list.

Bottom Line

If you’re thinking of selling, many buyers may be eager to find a home just like yours. Let’s connect today to make sure you can get your house in on the action this summer.

May 20, 2020

Interest Rates Hover Near Historic All-Time Lows

Interest Rates Hover Near Historic All-Time Lows

Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC] | MyKCM

Some Highlights

  • Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level.
  • Locking in at a low rate today could save you thousands of dollars over the lifetime of your home loan.
  • Let’s connect to determine the best way to position yourself for a move in today’s market.