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The Right Expert Will Guide You Through This Unprecedented Market

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The Right Expert Will Guide You Through This Unprecedented Market | MyKCM

In a normal market, it’s good to have an experienced guide coaching you through the process of buying or selling a home. That person can advise you on important things like pricing your home correctly or the first steps to take when you’re ready to buy. However, the market we’re in today is far from normal. As a result, an expert isn’t just good to have by your side – an expert is essential.

Today’s housing market is full of extremes. Mortgage rates hovering near record-lows are driving high buyer demand. On the other hand, an absence of sellers is creating record-low housing inventory. This imbalance in supply and demand is leading to a skyrocketing rate of bidding wars and more houses selling over their asking price. This is driving home price appreciation and gains in home equity. These market conditions aren’t just extreme – they can be overwhelming. Having a trusted expert to coach you through the process of buying and selling a home gives you clarity, confidence, and success through each step.

Here are just a few of the ways a real estate expert is invaluable:

  • Contracts – We help with the disclosures and contracts necessary in today’s heavily regulated environment.
  • Experience – We’re well-versed in real estate and experienced with the entire sales process, including how it’s changed over the past year.
  • Negotiations – We act as a buffer in negotiations with all parties throughout the entire transaction while advocating for your best interests.
  • Education – We simply and effectively explain today’s market conditions and decipher what they mean for your individual goals.
  • Pricing – We help you understand today’s real estate values when setting the price of your home or making an offer to purchase one.

A real estate agent can be your essential guide through this unprecedented market, but truth be told, not all agents are created equal. A true expert can carefully walk you through the whole real estate process, look out for your unique needs, and advise you on the best ways to achieve success. Finding the right agent should be your top priority when you’re ready to buy or sell a home.

So, how do you choose the right expert?

It starts with trust. You’ll have to be able to trust the advice your agent is going to give you, so make sure you’re connected to a true professional. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen at every turn – especially in this unique market. A true professional expert can, however, give you the best possible advice based on the information and situation at hand, helping you make the necessary adjustments and best decisions along the way. The right agent – the professional – will help you plan the steps to take for success, advocate for you throughout the process, and coach you on the essential knowledge you need to make confident decisions toward your goals. That’s exactly what you want and deserve.

Bottom Line

It’s crucial right now to work with a real estate expert who understands how the market is changing and what that means for home buyers and sellers. If you’re planning to make a move this year, let’s connect so you have someone who can answer your questions, give you the best advice, and guide you along the way.

What’s Ahead For Mortgage Rates This Week – June 14, 2021

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Last week’s economic reporting included readings on job openings, inflation, and consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released.

Job Openings Increase as Employers Struggle to Fill Positions

Job openings rose in April according to the Labor Department, but workers were quitting jobs in record numbers. 9.30 million openings were reported as compared to expectations of 8.20 million job openings and 8.30 million job openings reported in March. Increasing job openings indicate a stronger post-pandemic economy as businesses and service providers return to full capacity.

Employers faced multiple obstacles to filling job openings including early retirements taken during the pandemic, difficulty in finding childcare options, and continued fear of covid-19. Generous covid-19 benefits and jobless benefits delayed workers’ return to their jobs. Job openings in restaurants and hotels rose by 349,000 openings in April. About one-third of all job openings were unfilled in April.

In other news, the Consumer Price Index, which tracks inflation, rose by 0.60 percent in May as compared to April’s reading of 0.80 percent growth. Analysts expected a reading of 0.50 percent for May. May’s reading was the fourth consecutive monthly increase in inflation since the pandemic. Higher used-car prices accounted for approximately a third of May’s inflation growth.

What's Ahead For Mortgage Rates This Week - June 14, 2021The Core Consumer Price Index, which excludes volatile food and fuel sectors, rose by 0.70 percent in May and was 3.80 percent higher year-over-year for a 29-year high.

Mortgage Rates and Jobless Claims Fall

Freddie Mac reported lower average mortgage rates last week as the rate for 30-year fixed-rate mortgages fell three basis points to 2.96 percent; the average rate for 15-year fixed-rate mortgages fell by four basis points to 2.23 percent. Rates for 5/1 adjustable rate mortgages averaged 2.55 percent and were nine basis points lower. Discount points averaged 0.70 percent for 30-year fixed-rate mortgages, 0.60 percent for 15-year fixed-rate mortgages, and 0.20 percent for 5/1 adjustable rate mortgages.

Initial jobless claims fell last week with 376,000 new claims filed as compared to expectations of 370,000 new claims and the previous week’s reading of 385,000 first-time claims filed. Continuing jobless claims also fell with 3.50 million ongoing claims filed as compared to the previous week’s reading of 3.76 million continuing claims filed.

The University of Michigan released initial results for its June Consumer Sentiment Index. June’s index reading was 86.4 as compared to the expected reading of 84.4 and May’s index reading of 82.9.

What’s Ahead

This week’s economic readings include the National Association of Home Builders’ Housing Market Index along with Commerce Department readings on housing starts and building permits issued. The Federal Open Market Committee of the Federal Reserve will release its usual post-meeting statement and Fed Chair Jerome Powell will give a press conference. Weekly readings on mortgage rates and jobless claims will also be released.

How to Market Your Home as the Perfect Rental or Investment Property

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Niche Marketing: How to Market Your Home as the Perfect Rental or Investment Property When a homeowner is preparing to sell a home, it can be beneficial to determine the target audience that is most likely to be interested in the property as an important initial step. In some cases, it is advantageous for a homeowner to position a home as a great rental property or investment property, but this requires the right strategy. By adopting a few niche marketing steps, homeowners can work with their trusted real estate agent to market a property appropriately.

Create A Cash Flow Sheet

Buyers who are searching for a rental or investment property are looking for a return on their investment in most cases, and they also may want to see how large of a down payment is needed in order for the property to realistically turn a profit. A real estate agent can work with a property owner to create a cash flow sheet that details all of this information for a buyer.

Show Comparable Rental Properties

A real estate agent can also research comparable rental data to help a property owner determine what a realistic rental rate may be. Property buyers want to know that the information provided to them in the cash flow sheet is realistic, and comparable rental data can give buyers the details they are looking for. More than that, this information may also show the average number of days similar properties stay on the market for rent and how many similar properties are available for rent in the vicinity.

Appeal To Agents Specializing In Real Estate Investments

Some real estate agents specialize in assisting investor clients, and some have standing clients that they actively seek great properties for. A skilled real estate agent may announce the listing to these agents so that they can bring the property to the attention of their clients. This focused marketing effort can yield considerable returns, but the real estate agent generally must take the initiative to contact these agents.

Some properties may be marketed as family homes or vacation homes, but others are well-suited for being rental or investment properties. Homeowners who are preparing to sell their home can work with a real estate agent to learn more about who their target audience is and how to market specifically for them. Those who are interested in learning more about how to sell their home quickly can set up a consultation with their trusted real estate professional.

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