Real Estate Blog

RSS Feed

Is It Time To Move on to a New Home?

Is It Time To Move on to a New Home? | MyKCM

If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure.

To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their houses. It says:

“People who move for home-related reasons might need a larger home or a house that better…

3 Views, 0 Comments

Fall Is My Favorite Seaon

Cool weather, leaves changing into vibrant colors, flannel, scarves, jeans. All the things. And of course, my favorite seasonal activity - visiting apple orchards & pumpkin patches. Walking through a fall farm market and through the apple trees is an ethereal, natural experience everyone can enjoy - when I was younger, I'd take my dog and meander through the orchards, picking apples in New York's hilly and arboreal Westchester County. Now that I'm married and have an energetic five-year-old, we check out the barnyards, the corn mazes, taste caramel apples, apple cider donuts, and maybe this year we'll brave a haunted forest or barn! Because I'm a fall-a-holic, I've rounded up my favorite spots around Dane & surrounding Counties to pick pumpkins and…

17 Views, 0 Comments

What You Can Do Right Now To Prepare for Homeownership

What You Can Do Right Now To Prepare for Homeownership | MyKCM

As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com:

The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has increased by 11.4 percent since January . . . .”

Those rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re ready to learn more about how to escape rising rents.

Start Saving – Even Small Amounts –…

18 Views, 0 Comments

Reasons You Should Consider Selling This Fall

Reasons You Should Consider Selling This Fall | MyKCM

If you're trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate sellers' market we're in today won't last forever. If you’re thinking of making a move, here are four reasons to put your house up for sale sooner rather than later.

1. Your House Will Likely Sell Quickly

According to the Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly – on average, they're selling in just 17 days. As a seller, that's great news for you.

Average days on market is a strong indicator of buyer demand. And if homes are selling quickly, buyers have to be more decisive and act fast to submit their…

14 Views, 0 Comments

With quarter 4 of 2021 right around the corner, many families are seeing themselves winding down for the year and cozying up at home as the weather changes and holidays are quickly approaching. However, with more time at home and less on-the-go, the realities of if your home works for you – or not – are never more obvious. The fall and winter months are prime time for internal home projects, especially if there is any thought of potentially selling and taking advantage of another hot projected spring market for 2022. Whether you are considering selling sooner or later, there are many baby steps that can be taken to be prepared for whenever the time is right for you to sell.

Paint and lighting are the top ways to improve the aesthetic of your house…

3 Views, 0 Comments

What Does Being in a Sellers’ Market Mean?

What Does Being in a Sellers’ Market Mean? | MyKCM

Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?

It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):When the supply of houses for sale is as…

21 Views, 0 Comments

With Rents on the Rise – Is Now the Time To Buy?

With Rents on the Rise – Is Now the Time To Buy? | MyKCM

According to recent data from realtor.com, median rental prices have reached their highest point ever recorded in many areas across the country. The report found rents rose by 8.1% from the same time last year. As it notes:

Beyond simply recovering to pre-pandemic levels, rents across the country are surging. Typically, rents fluctuate less than 1% from month to month. In May and June, rents increased by 3.0% and 3.2% from each month to the next.”

If you’re a renter concerned about rising prices, now may be the time to consider purchasing a home.

Monthly Rents Are Higher Than Monthly Mortgage Payments

When you weigh your options of whether to buy a home or continue renting, how…

227 Views, 0 Comments

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

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…

25 Views, 0 Comments

8 Spots to Cool Off in the Madison Area

8 Spots to Cool Off

With the crazy sweltering heat we've been having this summer, it has been more than usually necessary to cool off in some form of water on a nearly daily basis. I don't know about you, but my kiddo simply cannot handle "the hotness" (nor can I really) so I have to have an arsenal of ideas ready at a moments' or locations' notice. Since I've lived in Madison almost my whole life, I've got a few standbys on my list that I've been visiting since I was a LIFEGUARD at one of my fave spots way back in high school! Crazy, right? And having a busy 4-year-old at my hip has only broadened my knowledge of our favorite pools, splash pads and beaches. So, here it is. Eowyn and Solveig's favorite spots to COOL OFF around…
24 Views, 0 Comments

With inventory remaining low and so many of the homes listed being that of baby boomer’s long-time residences (needing updates), it is no wonder that so many home buyers are exploring new construction opportunities. New construction allows buyers to customize exactly what they want in their home, from the location to the floorplan and down to the finishing details.

In the greater Madison area, we are seeing new developments and new construction opportunities pop up in nearly every suburb. COVID buying trends continue to push buyers further out of the city and vying for larger lots with more privacy. Flexible work from home accommodations have also brought about more home office spaces than ever before, with most builders offering these spaces as a…

12 Views, 0 Comments