Looking for a Place To Call Home? Consider a Condominium. | MyKCM

 

It’s no secret that one of the top stories in today’s real estate market is low housing supply and high buyer demand. If you’re a first-time buyer looking for a starter home or are someone who’s interested in downsizing, it may be worth considering a condominium (condo) as a worthwhile option.

In fact, trends indicate condos are gaining popularity among buyers. In the latest Existing Homes Sales Report from the National Association of Realtors (NAR), the data shows condo sales rising throughout the first half of this year (see graph below):

 

 

 

There are a few reasons more and more people are opting to buy condos – the benefits of condo life can be quite compelling. Let’s explore the main perks to find out if a condo is a…

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The Community and Economic Impacts of a Home Sale | MyKCM

 

If you’re thinking of buying or selling a house, chances are you’re focusing on the many extraordinary ways it’ll change your life. What you may not realize is that decision impacts people’s lives far beyond your own. Home purchases and sales are significant drivers of economic activity. They have a major impact on your community and the entire U.S. economy via the multiple industries and professionals that take part in the process.

The National Association of Realtors (NAR) releases a report each year that highlights just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy:

 

To dive a level deeper, NAR also provides a detailed…

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Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes | MyKCM

 

In April, the National Association of Home Builders (NAHB) posted an article, Home Buyers’ Preferences Shift Towards New Construction, which reported:

“60% of people who were looking to buy a home in 2020 said they'd prefer new construction to an existing home.”

However, it seems buyers are now shifting their preferences back to existing homes.

The latest Consumer Confidence Survey reveals the percentage of Americans planning to buy a home in the next six months is virtually the same as it was back in March. However, the percentage that plan to buy a newly constructed home is lower for that same period.

NAHB confirms this sentiment in their latest Housing Trends Report. The organization explains that existing homes are now…

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Sellers: Make Today’s Home Price Appreciation Work for You | MyKCM

 

Home prices continue to rise as we move through the summer, and that’s good news for sellers who are looking to maximize their home’s potential. If you’re on the fence about whether to list your house now or later, the question you should really ask is: will this price appreciation last?

Here’s what three leading industry experts have to say about what lies ahead:

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

“At a broad level, home prices are in no danger of a decline due to tight inventory conditions, but I do expect prices to appreciate at a slower pace by the end of the year.”

Selma Hepp, Deputy Chief Economist, CoreLogic:

“The imbalance between robust demand and dismal availability of…

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When the kids go back to school, every parent is on the hunt for some fresh deep cleaning tips. With the much-needed silence also comes the reality that the house is...pretty messy. 

Summer break means more fun and a lot more mess. For most families, this season is a time for messy outdoor play, snacks on the couch, somehow tracking pounds of sand in from the beach, and lots of other activities that slowly but surely turn the house upside down. Now that the new school year is almost upon us, we are sharing our deep cleaning tips to get you started on the long journey back to “clean”! 

Who doesn’t love a fresh start for the kids and your family? Though cleaning and organizing is not everyone’s favorite thing to do, the payoff is rewarding, especially…

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With so many properties being purchased and built around the country, many of us are excitedly planning how to turn our houses into homes. Here in the Lowcountry, interior design inspiration is drawn from our natural surroundings with everything from color, building material, and decor textures being guided by our environment. 

This makes windows a huge factor in terms of design. If you’re building a home, include as many windows as you possibly can! If you purchased a home and want to make the most of the windows you have, be sure not to block them with furniture and dress them beautifully.

So, how do you add window treatments that enhance your Lowcountry interior design without deteriorating from the gorgeous views outside? 

First, when…

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After months of declines, the inventory of homes for sale nationwide is beginning to increase as more sellers come to the market, looking to capitalize on record-high sales prices while providing a much-need boost of supply to America’s epic housing shortage. This is encouraging news for homebuyers, who have struggled with a lack of supply and rocketing sales prices during the pandemic.

Hilton Head & Mainland Real Estate Market Update - July 2021

For the 12- month period spanning August 2020 through July 2021, pending sales in the Hilton Head region were up 38.0 percent overall. Market-wide, inventory levels were down 59.2 percent. The property type that lost the least inventory was the condo segment, where it decreased 48.1 percent. That amounts…

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In today’s real estate market, mortgage interest rates are near record lows. If you’ve been in your current home for several years and haven’t refinanced lately, there’s a good chance you have a mortgage with an interest rate higher than today’s average. Here are some options you should consider if you want to take advantage of today’s current low rates before they rise.

Sell and Move Up (or Downsize)

Many of today’s homeowners are rethinking what they need in a home and redefining what their dream home means. For some, continued remote work is bringing about the need for additional space. For others, moving to a lower cost-of-living area or downsizing may be great options. If you’re considering either of these, there may not be a…

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With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.

1. The housing market isn’t driven by risky mortgage loans.

Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers’ Association is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, let’s look at the volume of mortgages that originated when a…

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Over the past year, many homeowners realized what they need in a home is changing, especially with the rise in remote work. If you’re longing for a dedicated home office or a change in scenery, now may be the time to find the home that addresses your evolving needs.

Working from Home Isn’t a Passing Fad

Before the pandemic, only 21% of individuals worked from home. However, if you’ve recently discovered remote work is your new normal, you’re not alone.

A survey of hiring managers conducted by Statista and Upwork projects 37.5% of U.S. workers will work remotely in some capacity over the next 5 years (see chart below):

Remote Work

Working from Home Gives You More Flexibility and More Options

If you fall in that category, working from home may…

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