ArticleDetailSimple

<span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Home design trends shift every year as home buyers discover what does and does not work for their families.&nbsp; In the current condition of a continuing pandemic, homebuyers are still looking toward ample space and renovations that can make staying at home a pleasure.&nbsp; Rooms where this is most obvious are kitchens and bathrooms, while outdoor living space also remains a popular place for new trends in 2021.&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;
<span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Few areas of a home are visited as often as the kitchen.&nbsp; It is the room where entertaining, studying, working, eating, and of course cooking bring family members together. With its many roles and central hub of a home, the kitchen is the most sought after room for homebuyers. In 2021, homebuyers are searching for unique kitchens with large amounts of storage space. Pandemic living taught families the need to buy in bulk and limit trips to the grocery store. Because of this, homebuyers are in search of large walk-in pantries to accommodate additional food in the house.&nbsp; According to <a href="https://www.homelight.com/blog/real-estate-top-agent-insights-q4-2020/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">62% of agents</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">, homebuyers are interested in walk-in pantries in their next home.&nbsp; Nearly as many agents, 57%, say extra cabinet storage is a top kitchen feature for homebuyers.&nbsp; Beyond storage, 2021 homebuyers, just as decades of homebuyers prior, are very interested in the kitchen island.&nbsp; More specifically homebuyers are interested in functional and visually pleasing kitchen islands that can adapt to meet the needs of family members. <a href="https://www.homelight.com/blog/home-design-trends-2021/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Multi-tiered islands</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> in vibrant colors provide counter space and storage while remaining a beautiful focal point of the kitchen.&nbsp;&nbsp;
&nbsp;
<span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Bathrooms are another area of the house that 2021 homebuyers are hoping to find extra storage and a bit of luxury. Where homebuyers once looked for small single sink vanities that required less cleaning and space for clutter, 2021 homebuyers are in search of <a href="https://www.homelight.com/blog/real-estate-top-agent-insights-q4-2020/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">double-sink vanities</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> with ample storage space below. Like the kitchen island, these vanities should serve as&nbsp; a <a href="https://www.homelight.com/blog/home-design-trends-2021/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">focal point </a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">for the bathroom while remaining functional.&nbsp; In order to take full advantage of space, 29% of agents say linen closets with additional storage are an upgrade home buyers are interested in.&nbsp; Aside from storage, buyers are interested in upscale shower heads. Rainshower heads (<a href="https://www.homelight.com/blog/real-estate-top-agent-insights-q4-2020/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">39%</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">) or dual shower heads (<a href="https://www.homelight.com/blog/real-estate-top-agent-insights-q4-2020/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">37%</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">) are at the top of the list of bathroom features for 2021.&nbsp; Heated floors (<a href="https://www.homelight.com/blog/real-estate-top-agent-insights-q4-2020/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">26%</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">) broke the top 5 bathroom upgrades of interest to buyers, however most of the interest came from those in the Northeast or Midwest. Across all regions, a massive <a href="https://www.homelight.com/blog/real-estate-top-agent-insights-q4-2020/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">72.6% of agents</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> said carpeting in a bathroom would dissuade buyers from purchasing a home.&nbsp;&nbsp;
<span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&nbsp;
<span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Outdoor space became a vital part of life for most of 2020 and will continue into 2021. One trend that began in 2020 and will continue this coming spring is the search for comfortable <a href="https://www.homelight.com/blog/new-years-resolutions-home/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">outdoor furniture</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. To enjoy that new outdoor furniture, buyers continue to <a href="https://www.homelight.com/blog/real-estate-top-agent-insights-q4-2020/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">consider privacy </a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">an important part of their outdoor area. Buyers are looking for privacy fences that can be made of wood or even a living fence to add to the natural feel of the backyard. At the top of the list of 2021 home buyers wants is an outdoor fire pit according to <a href="https://www.homelight.com/blog/real-estate-top-agent-insights-q4-2020/"><span style="font-size: 12pt; font-family: Arial; color: #1155cc; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: underline; -webkit-text-decoration-skip: none; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">54% of agents</a><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. Be they large or small, wood heated or gas, fire pits can be very versatile as an addition to an outdoor oasis.&nbsp; The final outdoor renovation that homebuyers look for in 2021 is a dedicated outdoor cooking area. Complete with sink, grill, refrigerator, and storage space, the outdoor cooking area should be a space for family members to gather. Much like the kitchen island as a focal point, outdoor cooking areas should have ample space for food preparation as well as entertaining.&nbsp; This means that there should be plenty of seating areas as well.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;
<span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Though trends can vary from region to region, the top trends are all about space and adjusting to ample time at home. Throughout 2021 these home trends will remain at the forefront of buyers minds when searching for a home and can be beneficial to sellers looking to boost their homes value.&nbsp;&nbsp;&nbsp;

What Homebuyers Want in 2021: The Hottest Kitchen, Bath, and Outdoor Trends in the New Year

<img class="attachment-entry size-entry wp-post-image" src="https://files.mykcm.com/2020/11/04144635/20201105-KCM-Share.jpg" border="0" alt="Why the 2021 Forecast Doesn&rsquo;t Call for a Foreclosure Crisis | MyKCM" width="750" height="410" /> 
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As the current forbearance&nbsp;<a href="https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/mortgage-relief/" target="_blank" title="mortgage relief options" rel="noopener noreferrer">mortgage relief options</a>&nbsp;come to an end, many are wondering if we&rsquo;ll face a foreclosure crisis next year. This is understandable, especially for those who remember the housing crisis that began in 2008. The reality is, plans have been put in place through forbearance to ensure history doesn&rsquo;t repeat itself.
This year, homeowners are able to request 180 days of mortgage relief through forbearance. Upon expiration of that timeframe, they&rsquo;re also entitled to request 180 additional days, bringing the total to 360 days of deferred payment eligibility. As forbearance expires, homeowners should stay in touch with their lender, because creating a plan for the deferred payments is a critical next step to avoiding foreclosure. There are&nbsp;<a href="https://www.simplifyingthemarket.com/2020/10/21/why-todays-options-will-save-homeowners-from-foreclosure/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="multiple options" rel="noopener noreferrer">multiple options</a>&nbsp;for homeowners to pursue at this point, and with the right planning and communication with the lender, foreclosure doesn&rsquo;t have to be one of them.
Many homeowners are concerned that they&rsquo;ll have to pay the deferred payments back in a lump sum payment at the end of forbearance. Thankfully, that&rsquo;s not the case.&nbsp;Fannie Mae&nbsp;<a href="https://capmrkt.fanniemae.com/heretohelp/kyo/posts/you-dont-have-to-repay-the-forbearance-amount-all-at-once-upon-completion-of-your-forbearance-plan-get-the-facts/" target="_blank" title="explains" rel="noopener noreferrer">explains</a>:
<blockquote>
&ldquo;You don&rsquo;t have to repay the forbearance amount all at once upon completion of your forbearance plan&hellip;Here&rsquo;s the important thing to remember: If you receive a forbearance plan, you will have options when it comes to repaying the missed amount. You don&rsquo;t have to pay the forbearance amount at once unless you are able to do so.&rdquo;
</blockquote>
When looking at the percentage of people in forbearance, we can also see that this number has been decreasing steadily throughout the year. Fewer people than initially expected are still in forbearance, so the number of homeowners who will need to work out alternative payment options is declining&nbsp;(See graph below):<a href="https://files.simplifyingthemarket.com/2020/11/04164136/20201105-MEM-Eng-1.jpg?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-96358" src="https://files.mykcm.com/2020/11/04164136/20201105-MEM-Eng-1.jpg" border="0" alt="Why the 2021 Forecast Doesn&rsquo;t Call for a Foreclosure Crisis | MyKCM" width="600" height="450" /></a>This means there are fewer and fewer homeowners at risk of foreclosure, and many who initially applied for forbearance didn&rsquo;t end up needing it. Mike Fratantoni,&nbsp;Senior Vice President&nbsp;and&nbsp;Chief Economist&nbsp;at the&nbsp;Mortgage Bankers Association&nbsp;(MBA),&nbsp;<a href="https://www.mba.org/2020-press-releases/october/share-of-mortgage-loans-in-forbearance-declines-to-632" target="_blank" title="explains" rel="noopener noreferrer">explains</a>:
<blockquote>
"Nearly two-thirds of borrowers who exited forbearance remained current on their payments, repaid their forborne payments, or moved into a payment deferral plan.&nbsp;All of these borrowers have been able to resume - or continue - their pre-pandemic monthly payments."
</blockquote>
For those who are still in forbearance and unable to make their payments,&nbsp;foreclosure isn&rsquo;t the only option left. In their&nbsp;<a href="https://www.corelogic.com/insights-download/homeowner-equity-report.aspx" target="_blank" title="Homeowner Equity Insights Report" rel="noopener noreferrer">Homeowner Equity Insights Report</a>,&nbsp;CoreLogic&nbsp;indicates:
<blockquote>
&ldquo;In the second quarter of 2020, the&nbsp;average homeowner gained approximately $9,800 in equity during the past year.&rdquo;
</blockquote>
Many homeowners have enough equity in their homes today to be able to sell their houses instead of foreclosing. Selling and protecting the overall financial investment may be a very solid option for many homeowners. As Ivy Zelman,&nbsp;Founder&nbsp;of&nbsp;Zelman &amp; Associates, mentioned in a recent&nbsp;<a href="https://www.tomferry.com/podcast/experience-91/" target="_blank" title="podcast" rel="noopener noreferrer">podcast</a>:
<blockquote>
&ldquo;The likelihood of us having a foreclosure crisis again is about zero percent.&rdquo;
</blockquote>
<h3>Bottom Line</h3>
If you&rsquo;re currently in forbearance or think you should be because you&rsquo;re concerned about being able to make your mortgage payments, reach out to your lender to discuss your options and next steps. Having a trusted and knowledgeable professional on your side to guide you is essential in this process and might be the driving factor that helps you stay in your home.
Give us a call today to discuss your situation and goals...we're always here to help.
</div>

As the current forbearance mortgage relief options come to an end, many are wondering if we’ll face a foreclosure crisis next year. This is understandable, especially for those who remember the housing crisis that began in 2008.

Why the 2021 Forecast Doesn’t Call for a Foreclosure Crisis

<img class="attachment-entry size-entry wp-post-image" src="https://files.mykcm.com/2020/11/09104210/20201110-KCM-Share.jpg" border="0" alt="Homeownership Is a Key to Building Wealth | MyKCM" width="750" height="410" /> 
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For years, real estate has been considered the best&nbsp;<a href="https://www.simplifyingthemarket.com/2020/07/10/americans-rank-real-estate-best-investment-for-7-years-running-infographic/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="investment" rel="noopener noreferrer">investment</a>&nbsp;you can make. A major reason for this is due to the net worth a household gains through homeownership. In fact, according to the&nbsp;<a href="https://www.federalreserve.gov/publications/files/scf20.pdf" target="_blank" title="2019 Survey of Consumer Finance Data" rel="noopener noreferrer">2019 Survey of Consumer Finance Data</a>&nbsp;from the&nbsp;Federal Reserve,&nbsp;for the average homeowner:
<blockquote>
&ldquo;&hellip;a primary home accounts for 90% of the total wealth of a family in the U.S.&rdquo;
</blockquote>
<h4>How do homeowners gain wealth?</h4>
Most large purchases, like cars and appliances, depreciate in value as they age, so it&rsquo;s understandable to question how owning a home can&nbsp;increase&nbsp;wealth over time. In a simple equation, the&nbsp;National Association of Realtors&nbsp;(NAR)&nbsp;<a href="https://www.nar.realtor/blogs/economists-outlook/metro-area-wealth-gains-from-homeownership-as-of-2020-q2" target="_blank" title="explains" rel="noopener noreferrer">explains</a>&nbsp;how the combination of paying your mortgage and home price appreciation grow overall wealth:
Principal Payments + Price Appreciation Gains = Housing Wealth Gain
As home values increase and you make payments toward your home loan, you&rsquo;ll gain wealth through&nbsp;equity. The same article from NAR also addresses how wealth gains tend to play out over time:
<blockquote>
&ldquo;Housing wealth accumulation takes time and is built up by paying off the mortgage debt and by price appreciation. And while home prices can fall, home prices tend to recover and go up over the longer term.&nbsp;As of September 2020, the median sales price of existing home sales was $311,800, a 35% gain since July 2006 when prices peaked at $230,000.&rdquo;
</blockquote>
Taking a look at how equity has grown for the typical homeowner, it&rsquo;s clear to see how real estate is a sound long-term investment. NAR notes:
<blockquote>
&ldquo;Nationally,&nbsp;a person who purchased a typical home 30 years ago would have typically gained about $283,000 as of the second quarter of 2020.&rdquo; (See graph below):
</blockquote>
<a href="https://files.simplifyingthemarket.com/2020/11/09104212/20201110-MEM-Eng-1.jpg?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-96426" src="https://files.mykcm.com/2020/11/09104212/20201110-MEM-Eng-1.jpg" border="0" alt="Homeownership Is a Key to Building Wealth | MyKCM" width="600" height="450" /></a>
<h3>Bottom Line</h3>
Whether you&rsquo;re a current homeowner planning to put your&nbsp;<a href="https://www.simplifyingthemarket.com/2020/10/02/rising-home-equity-can-power-your-next-move-infographic/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="equity" rel="noopener noreferrer">equity</a> toward a new home or have hopes of buying your first home soon, homeownership will always be a great opportunity to build your net worth and overall wealth. Owning a home is truly an investment in your financial future.&nbsp;
Give us a call today to discuss how you can build or grow your net worth through homeownership.
</div>

For years, real estate has been considered the best investment you can make. A major reason for this is due to the net worth a household gains through homeownership.

Homeownership Is a Key to Building Wealth

<img class="attachment-entry size-entry wp-post-image" src="https://files.mykcm.com/2020/11/13104538/20201117-KCM-Share.jpg" border="0" alt="Homes for Sale Are Rapidly Disappearing | MyKCM" width="750" height="410" /> 
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Through all the challenges of 2020, the real estate market has done very well, and purchasers are continuing to take advantage of historically low mortgage rates.&nbsp;Realtor Magazine&nbsp;just&nbsp;<a href="https://magazine.realtor/daily-news/2020/11/03/hot-housing-market-likely-won-t-cool-in-winter" target="_blank" title="explained" rel="noopener noreferrer">explained</a>:
<blockquote>
&ldquo;While winter may be typically a slow season in real estate, economists predict it isn&rsquo;t likely to happen this year&hellip;Low inventories combined with high demand due to record-low mortgage rates is&nbsp;sending buyers to the market in a flurry.&rdquo;
</blockquote>
However, one challenge for the housing industry heading into this winter is the dwindling number of homes available for sale. Lawrence Yun,&nbsp;Chief Economist&nbsp;for the&nbsp;National Association of Realtors&nbsp;(NAR), recently&nbsp;<a href="https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales" target="_blank" title="said" rel="noopener noreferrer">said</a>:
<blockquote>
"There is no shortage of hopeful, potential buyers, but&nbsp;inventory is historically low.&rdquo;
</blockquote>
In addition, Danielle Hale,&nbsp;Chief Economist&nbsp;for&nbsp;realtor.com,&nbsp;<a href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-nov-7-2020/" target="_blank" title="notes" rel="noopener noreferrer">notes</a>:
<blockquote>
&ldquo;Fewer new sellers coming to market while a greater than usual number of buyers continue to search for a home causes&nbsp;inventory to continue to evaporate.&rdquo;
</blockquote>
One major indicator the industry uses to measure housing supply is the&nbsp;months&rsquo; supply of inventory. According to&nbsp;<a href="https://www.nar.realtor/blogs/economists-outlook/inventory-and-months-supply" target="_blank" title="NAR" rel="noopener noreferrer">NAR</a>:
<blockquote>
&ldquo;Months&rsquo; supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.&rdquo;
</blockquote>
Historically, six months of supply is considered a normal real estate market. Going into the pandemic, inventory was already well below this mark. As the year progressed, the supply has was reduced even further. Here is a graph showing this measurement over the last year:
<h4><img class="aligncenter wp-image-96458" src="https://files.mykcm.com/2020/11/13104539/20201117-MEM-Eng-1.jpg" border="0" alt="Homes for Sale Are Rapidly Disappearing | MyKCM" width="600" height="450" style="font-size: 14px;" /></h4>
<h4>What does this mean if you&rsquo;re a buyer?</h4>
Be patient during your home search. It may take time to find a home you love. Once you do, be ready to move forward quickly. Get&nbsp;<a href="https://www.simplifyingthemarket.com/2020/08/27/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="pre-approved" rel="noopener noreferrer">pre-approved</a>&nbsp;for a mortgage, be prepared to make a competitive offer from the start, and understand how the shortage in inventory has led to more&nbsp;<a href="https://www.simplifyingthemarket.com/2020/10/16/how-to-prepare-for-a-bidding-war-infographic/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="bidding wars" rel="noopener noreferrer">bidding wars</a>. Calculate just how far you&rsquo;re willing to go to secure a home if you truly love it.
<h4>What does this mean if you&rsquo;re a seller?</h4>
Realize that, in some ways, you&rsquo;re in the&nbsp;<a href="https://www.simplifyingthemarket.com/2020/10/14/the-1-reason-not-to-wait-to-list-your-house-for-sale/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="driver&rsquo;s seat" rel="noopener noreferrer">driver&rsquo;s seat</a>. When there&rsquo;s a shortage of an item at the same time there&rsquo;s a strong demand for it, the seller is in a good position to negotiate. Whether it&rsquo;s the price, moving date, possible repairs, or anything else, you&rsquo;ll be able to ask for more from a potential purchaser at a time like this &ndash; especially if you have multiple interested buyers. Do not be unreasonable, but understand you probably have the upper hand.
<h3>Bottom Line</h3>
The housing market will remain&nbsp;<a href="https://www.simplifyingthemarket.com/2020/11/12/winter-will-bring-a-flurry-of-activity-to-the-housing-market/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="strong" rel="noopener noreferrer">strong</a> throughout the winter and heading into the spring. Know what that means for you, whether you&rsquo;re buying, selling, or doing both. Give us a call to take a look at your specific home and discuss your goals.&nbsp;
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Through all the challenges of 2020, the real estate market has done very well, and purchasers are continuing to take advantage of historically low mortgage rates.

Homes for Sale Are Rapidly Disappearing

<img class="attachment-entry size-entry wp-post-image" src="https://files.mykcm.com/2020/10/20100311/20201022-KCM-Share.jpg" border="0" alt="Home Values Projected to Keep Rising | MyKCM" width="750" height="410" /> 
<div class="kcm-post-minimal-content">
As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to come.
Due to the&nbsp;<a href="https://www.simplifyingthemarket.com/2020/10/14/the-1-reason-not-to-wait-to-list-your-house-for-sale/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="undersupply" rel="noopener noreferrer">undersupply</a>&nbsp;of homes on the market today, there&rsquo;s upward pressure on prices. Consider simple economics: when there is high demand for an item and a low supply of it, consumers are willing to pay more for that item. That&rsquo;s what&rsquo;s happening in today&rsquo;s real estate market. The housing supply shortage is also resulting in&nbsp;<a href="https://www.simplifyingthemarket.com/2020/10/16/how-to-prepare-for-a-bidding-war-infographic/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="bidding wars" rel="noopener noreferrer">bidding wars</a>, which will also drive price points higher in the home sale process.
There&rsquo;s no evidence that buyer&nbsp;<a href="https://www.simplifyingthemarket.com/2020/09/28/housing-market-on-track-to-beat-last-years-success/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="demand" rel="noopener noreferrer">demand</a>&nbsp;will wane. As a result, experts project price appreciation will continue over the next twelve months. Here&rsquo;s a graph of the major forecasts released in the last 60 days:<a href="https://files.simplifyingthemarket.com/2020/10/20100312/20201022-MEM-Eng-1.jpg?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-96222" src="https://files.mykcm.com/2020/10/20100312/20201022-MEM-Eng-1.jpg" border="0" alt="Home Values Projected to Keep Rising | MyKCM" width="600" height="450" /></a>
<h4>I hear many foreclosures might be coming to the market soon. Won&rsquo;t that drive prices down?</h4>
Some are concerned that homeowners who entered a mortgage forbearance plan might face foreclosure once their plan ends. However, when you analyze the data on those in&nbsp;<a href="https://www.simplifyingthemarket.com/2020/10/21/why-todays-options-will-save-homeowners-from-foreclosure/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="forbearance" rel="noopener noreferrer">forbearance</a>, it&rsquo;s clear the actual level of risk is quite low.
Ivy Zelman,&nbsp;CEO&nbsp;of&nbsp;Zelman &amp; Associates&nbsp;and a highly-regarded expert in housing and housing-related industries, was very firm in a&nbsp;<a href="https://www.tomferry.com/podcast/experience-91/" target="_blank" title="podcast" rel="noopener noreferrer">podcast</a>&nbsp;last week:
<blockquote>
&ldquo;The likelihood of us having a foreclosure crisis again is about zero percent.&rdquo;
</blockquote>
With demand high, supply low, and little risk of a foreclosure crisis,&nbsp;home prices will continue to appreciate.
<h3>Bottom Line</h3>
Originally, many thought home prices would depreciate in 2020 due to the economic slowdown from the coronavirus. Instead, prices appreciated substantially. Over the next year, we will likely see home values rise even higher given the continued lack of inventory of homes for sale.
</div>

As we enter the final months of 2020 and continue to work through the challenges this year has brought, what is the impact on housing prices?

Home Values Projected to Keep Rising

<img class="attachment-entry size-entry wp-post-image" src="https://files.mykcm.com/2020/10/26122659/20201027-KCM-Share.jpg" border="0" alt="How Down Payment Assistance Opens the Door to Homeownership | MyKCM" width="750" height="410" /> 
<div class="kcm-post-minimal-content">
Many people are eager to buy a home right now while&nbsp;<a href="https://www.simplifyingthemarket.com/2020/09/22/the-cost-of-a-home-is-far-more-important-than-the-price/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="affordability" rel="noopener noreferrer">affordability</a>&nbsp;continues to be a highlight of the current housing market. However, a recent&nbsp;<a href="https://about.bankofamerica.com/assets/pdf/BofA_Consumer_Lending_Homebuyer_Insights_083020_R10-WW.pdf" target="_blank" title="survey" rel="noopener noreferrer">survey</a>&nbsp;by&nbsp;Sparks Research&nbsp;shows that 20% of first-time homebuyers cite a lack of financial education as a barrier to homeownership. This is definitely understandable. If you don&rsquo;t feel comfortable with the financial process of buying a home, it&rsquo;s hard to make a confident decision. In fact, four in five homebuyers say they need help to understand what they can even afford in the first place. This is why finding the right professionals to help you through the process is so important.
On top of that, the same survey reports over two-thirds of prospective homebuyers believe they&rsquo;ll need assistance to save enough for a&nbsp;<a href="https://www.simplifyingthemarket.com/2020/10/13/do-you-have-enough-money-saved-for-a-down-payment/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="down payment" rel="noopener noreferrer">down payment</a>. What they may not realize is that there are a lot of down payment assistance programs at the state and regional levels, and many of them have funds available for potential buyers.&nbsp;Down Payment Resources&nbsp;recently released its&nbsp;<a href="https://downpaymentresource.com/wp-content/uploads/2020/09/HPI-Q3-2020-press-release.docx.pdf" target="_blank" title="Q3 2020 Homeownership Program Index" rel="noopener noreferrer">Q3 2020 Homeownership Program Index</a>, which explains:
<blockquote>
&ldquo;The number of total programs is 2,340, and&nbsp;over 81 percent (81.1%) of programs currently have funds available&nbsp;for eligible homebuyers.&rdquo;
</blockquote>
<h4>Down Payment Assistance Programs Are Not Only for First-Time Homebuyers</h4>
Keep in mind, these programs aren&rsquo;t just for first-time homebuyers, so it&rsquo;s worth exploring your options no matter where you are in your homeownership journey. For example, if you&rsquo;re&nbsp;<a href="https://www.simplifyingthemarket.com/2020/08/06/how-is-remote-work-changing-homebuyer-needs/?a=261343-fde70025be7e1896416e2359fe154cfc" target="_blank" title="working from home" rel="noopener noreferrer">working from home</a>&nbsp;now, you may be thinking of relocating to a more affordable area where you can stretch your dollar further and have more space, inside and out. Lawrence Yun,&nbsp;Chief Economist&nbsp;for the&nbsp;National Association of Realtors&nbsp;(NAR),&nbsp;<a href="https://magazine.realtor/daily-news/2020/10/13/threats-to-first-time-home-buyers-path-to-ownership" target="_blank" title="explains" rel="noopener noreferrer">explains</a>:
<blockquote>
&ldquo;Rural areas have mortgages (USDA loans) that don&rsquo;t require down payments; and some workers who can work from home may want to consider outer suburbs or small towns where USDA home loans are available and where homes are very affordable.&rdquo;
</blockquote>
If affordability is on your mind and you&rsquo;re expecting to be working from home long-term, the right home may be in an area you haven&rsquo;t considered yet. In addition, the assistance program you need might be within reach too.
If you&rsquo;re interested in learning more about down payment assistance programs, additional information is available through&nbsp;<a href="https://downpaymentresource.com/are-you-eligible/" target="_blank" title="Down Payment Resource" rel="noopener noreferrer">Down Payment Resource</a>. Your real estate advisor can help you decide which option is best for you personally.
<h3>Bottom Line</h3>
Thanks to a range of down payment assistance programs, affordable options are out there for today&rsquo;s hopeful homebuyers. It&rsquo;s important to get the financial education you need to understand the homebuying process and accomplish your real estate goals. Let&rsquo;s connect today to get you started on the path to your dream home.
</div>

Thanks to a range of down payment assistance programs, affordable options are out there for today’s hopeful homebuyers.

How Down Payment Assistance Opens the Door to Homeownership

<h3 class="kcm-post-minimal-title">Should I Renovate My House Before I Sell It?</h3>
<img class="attachment-entry size-entry wp-post-image" src="https://files.mykcm.com/2020/10/29115125/20201030-MEM-1046x1807.png" border="0" alt="Should I Renovate My House Before I Sell It? [INFOGRAPHIC] | MyKCM" width="1046" height="1807" /> 
<div class="kcm-post-minimal-content">
<h3>Some Highlights</h3>
<ul>
<li>In today&rsquo;s hyper-competitive market, buyers are often willing to overlook cosmetic or minor repair needs if it means snagging a home in their price range.</li>
<li>With so few houses available for sale today, you may be able to skip the bigger renovations before you sell and cash in on the current demand for your house.</li>
<li>If you&rsquo;re ready to move, let&rsquo;s connect to determine your best next steps in this sellers&rsquo; market.</li>
</ul>
</div>

In today's hyper-competitive market, buyers may overlook cosmetic and minor repair needs just to snag your home.

Should I Renovate My House Before I Sell It?

In 2020, spooky season may look a little different.
&nbsp;
I&rsquo;ve been seeing some great ideas on the internet for ways to celebrate Halloween amidst COVID this year.
&nbsp;
Some of them are for safe trick or treating, while others are ideas you can do with your kids in lieu of traditional trick or treating. Here are some of my favorites:
&nbsp;
<ul>
<li>Scavenger Hunt: If you decide not to take your kids out trick or treating this year, plan a scavenger hunt for them with treats hidden around your home. <a href="I&rsquo;ve%20been seeing some great ideas on the internet for ways to celebrate Halloween amidst COVID this year.">Click here to download a scavenger hunt worksheet.</a></li>
<li><a href="I&rsquo;ve%20been seeing some great ideas on the internet for ways to celebrate Halloween amidst COVID this year."><img src="https://files.constantcontact.com/777ea95f701/345436d5-53fc-4671-ae8d-e970280739cc.png" border="0" width="216" height="279" /></a></li>
</ul>
&nbsp;
<ul>
<li>Trunk or Treat: Organize a trunk or treat with your neighborhood. Put your treats in the trunk of your car and let the neighborhood kids pass by, keeping their distance from you, and take a treat from the trunk.</li>
</ul>
&nbsp;
<ul>
<li>Costume Parade: Some neighborhoods are planning to have the children parade in front of homes, 6 feet from one another, in a costume parade. Neighbors could combine their treats and let the kids pick them up at the end of the parade.</li>
</ul>
&nbsp;
<ul>
<li>Reverse Trick or Treat: In this idea, the kids stay in their own yards in costume, and a parent from each home drives by and throws candy from the car.</li>
</ul>
&nbsp;
<ul>
<li>Glow-in-the-dark Eggs: Order glow-in-the-dark eggs from Amazon, fill them with candy, and scatter them in your yard. Kids can pick up an egg without coming too close to anyone.</li>
</ul>
&nbsp;
<ul>
<li>Pick a Cup or Bag: Similarly, put your candy or treats in small cups or paper bags and set them out on your porch or a table in your driveway. You can sit nearby and let the kids take their treat as they pass by.</li>
</ul>
&nbsp;
<ul>
<li>Halloween Pi&ntilde;ata: Here&rsquo;s another idea if your family decides to forgo trick or treating this year. Let your kids take turns whacking a pumpkin pi&ntilde;ata until the treats spill out!</li>
</ul>
&nbsp;
<ul>
<li>Ring and Run Treats: This fun family activity is a new take on the old doorbell dash prank. Sneak to your kids friends&rsquo; homes and leave a treat on their porch, then ring the doorbell and run! Treats can be Halloween cookies you all bake together.</li>
</ul>
&nbsp;
<ul>
<li>Virtual Costume Party: Let&rsquo;s face it, what the kids enjoy most is choosing a costume, dressing up, and showing it off to their friends. They can enjoy each-others&rsquo; costumes virtually with a Zoom or Facetime party.&nbsp;</li>
</ul>
What about you? Do you have any fun ideas or plans for this year's festivities? I'd love to hear!

In 2020, spooky season may look a little different. I’ve been seeing some great ideas on the internet for ways to celebrate Halloween amidst COVID this year.

Celebrating Halloween COVID Style

<h1>Fall Home Maintenance</h1>
<h4>Feel that nip in the air? Yeah, not much...yet! However, it's the perfect time to prep for the cooler months to keep your home in peak condition and save yourself costly future repairs.</h4>
- Clean gutters and downspouts regularly to avoid clogging and exterior damage.
- Check for and repair broken or missing shingles. November marks the beginning of Southern California&rsquo;s rainy season.
- Make sure your attic and crawlspaces have adequate insulation.
- Change your air filters monthly, or according to the manufacturer's instructions.
- Schedule to have a professional inspect and clean your chimney before your first use of the season.
- Check for drafts around doors and windows by closing on a strip of paper - update weatherstripping if the paper slides out easily.
- Inspect your smoke and CO detectors - test alarm, check batteries and expiration dates.

Feel that nip in the air? Yeah, not much...yet! However, it's the perfect time to prep for the cooler months to keep your home in peak condition and save yourself costly future repairs.

Fall Home Maintenance

<h1>Southern California Real Estate Market Update</h1>
Here is your update on the current and projected market for Southern California for October 2020:
&nbsp;
//&nbsp;The active listing inventory has remained relatively flat. We are still seeing the lowest level of inventory since tracking in 2012. Inventory level is expected to drop further by the end of the year.
&nbsp;
//&nbsp;Demand, the number of pending sales over the&nbsp;prior month, decreased 3% in the last month but is still 25% more than this time last year.
&nbsp;
// Expected market time of 38&nbsp;days indicates a hot Seller&rsquo;s Market for nearly all of Southern California.
&nbsp;
// The presidential election may cause consumers to watch and wait in the weeks to come. But the real estate market isn&rsquo;t rocky&hellip; it&rsquo;s rock solid. And delaying plans could mean missing out on once-in-a-lifetime affordability.

Here is your update on the current and projected market for Southern California for October 2020:


Southern California Real Estate Market Update

<h1>HOW WILL THE 2020 ELECTION AFFECT REAL ESTATE?</h1>
Whether we&rsquo;re ready for it or not, the 2020 presidential election is right around the corner.&nbsp;Rocky political environments can create instability in the stock market-causing consumer confidence to drop. But the real estate market is different.
Historically speaking, home sales typically slow down in the fall following the spring and summer rush.&nbsp;BTIG, a research and analysis company, looked at new home sales from 1963-2019 and noted an average decline of -9.8% in November compared to October.&nbsp;In election years, there is a drop up to -15% from October to November because buyers and sellers become more cautious during that time. However, this is only temporary.&nbsp;Also noted was the year after a presidential election is the best of the four-year cycle. This suggests that demand for new housing is not lost because of election uncertainty, rather it gets pushed out to the following year as long as the economy stays on track.
Experts believe that once the election is over, we could see the real estate market perform even better in the months following.&nbsp;However, as we saw with the pandemic, the reward of locking in record-low mortgage rates also may continue to outweigh any consumer caution and drive buyers and sellers to act.&nbsp;Plus, low inventory and high buyer demand puts sellers in a very powerful position.
If you have any questions about your home or situation, please reach out to us today!
&nbsp;

Whether we’re ready for it or not, the 2020 presidential election is right around the corner. Rocky political environments can create instability in the stock market-causing consumer confidence to drop. But the real estate market is different.

HOW WILL THE 2020 ELECTION AFFECT REAL ESTATE?

<h1 class="_5RYuEA direction-ltr align-start para-style-body">Coronavirus Impacts on the Real Estate Market</h1>
We have all felt the immense impact of the coronavirus on our daily lives, so how is the real estate industry coping?
Buyers nationwide have shifted priorities in their home search while many are working remotely. The focus is often on common spaces - a home office, extra bedroom, and an open floor plan - rather then on the commute time to the office.
"Virtual showings" and remote processes allowed buyers to continue purchasing homes throughout the spring. However, as soon as the weather cleared up, buyers were out in droves looking for homes to buy. Low interest rates fueled their purchasing power.
Sellers were also initially uncertain, with fear of exposure to the virus and&nbsp;not knowing if buyers were ready to purchase. Many home sellers who had envisioned putting their house on the market during the spring months decided to wait, and inventory throughout the country dropped.
As showings resumed in full force, those listing their homes are finding themselves in a seller's market due to the low inventory. The majority of sellers are not reducing their asking price and home prices nationwide, including distressed sales, increased year over year by 5.9% in August 2020 compared with August 2019.
Buyers do have the benefit of historically low mortgage rates. Although buyers have fewer homes to chose from, many are eager to take advantage of this opportunity to boost their purchasing power with a lower rate.
If you have any questions or need anything, please reach out to us at 909-631-0006.
&nbsp;
&nbsp;

We have all felt the immense impact of the coronavirus on our daily lives, so how is the real estate industry coping?

Coronavirus Impacts on the Real Estate Market

<h3 class="kcm-post-minimal-title">Real Estate Continues to Show Unprecedented Strength This Year</h3>
<h1 class="post-title entry-title "><img class="attachment-entry size-entry wp-post-image" src="https://files.mykcm.com/2020/10/15143038/20201019-KCM-Share.jpg" border="0" alt="Real Estate Continues to Show Unprecedented Strength This Year | MyKCM" width="750" height="410" /> </h1>
<div class="kcm-post-minimal-content">
The 2020 housing market has surpassed all expectations and continues to drive the nation&rsquo;s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more?
Here&rsquo;s a look at what several industry-leading experts have to say.
<a href="https://www.nar.realtor/newsroom/existing-home-sales-hit-highest-level-since-december-2006" target="_blank" title="Lawrence Yun, Chief Economist, National Association of Realtors" rel="noopener noreferrer">Lawrence Yun,&nbsp;Chief Economist,&nbsp;National Association of Realtors</a>
<blockquote>
&ldquo;Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market&hellip;Further gains in sales are likely for the remainder of the year,&nbsp;with mortgage rates hovering around 3% and with continued job recovery."
</blockquote>
<a href="https://www.corelogic.com/insights-download/homeowner-equity-report.aspx" target="_blank" title="Frank Martell, President and CEO, CoreLogic" rel="noopener noreferrer">Frank Martell,&nbsp;President&nbsp;and&nbsp;CEO,&nbsp;CoreLogic</a>
<blockquote>
"Homeowners&rsquo; balance sheets continue to be bolstered by home price appreciation, which in turn mitigated foreclosure pressures&hellip;Although the exact contours of the economic recovery remain uncertain,&nbsp;we expect current equity gains, fueled by strong demand for available homes, will continue to support homeowners in the near term."
</blockquote>
<a href="http://zillow.mediaroom.com/2020-09-25-New-Forecast-Sees-Sales-Peak-This-Fall-Stay-Above-Pre-Pandemic-Levels-Through-the-Coming-Year" target="_blank" title="Zillow" rel="noopener noreferrer">Zillow</a>
<blockquote>
&ldquo;Zillow's predictions for seasonally adjusted home prices and pending sales are more optimistic than previous forecasts&nbsp;because sales and prices have stayed strong through the summer months amid increasingly&nbsp;short inventory and high demand.
The pandemic also pushed the buying season further back in the year, adding to recent sales. Future sources of uncertainty including lapsed fiscal relief, the long-term fate of policies supporting the rental and mortgage market, and virus-specific factors, were incorporated into this outlook.&rdquo;
</blockquote>
<h3>Bottom Line</h3>
Many economists are in unison, indicating the housing market will continue to fuel the economy through the end of the year, maintaining this unprecedented strength.
</div>
If you have any questions or need additional information, give us a call at 909-631-0006.
&nbsp;
<h3>We believe every&nbsp;family&nbsp;should feel&nbsp;confident&nbsp;when buying and selling a&nbsp;home.</h3>

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. Will this continue? Read on...

Real Estate Continues to Show Unprecedented Strength This Year

<h1>The Market &amp; Industry: California Prices remain high while inventory tightens</h1>
Last week saw another decline in the number of listings added to the MLS in California, hinting at increasingly tight inventory in the weeks to come. And California REALTORS&reg; are reporting listings are essentially flat, while closings and new listing appointments are falling.
Prices remain high; in Southern California, the median home price in August was up 12.1 percent from a year earlier. Even in the Bay Area, which is one of the nation&rsquo;s weakest regions in recovering jobs lost during the coronavirus shutdowns, median prices were up 16 percent from the previous year. And nationwide, the median home price hit a record high.
Freddie Mac&rsquo;s chief economist predicted mortgage rates, which have been steadily sliding all year, are beginning to flatten. But with rates still near record lows, buying power remains strong. And last week, the number of mortgages whose payment requirements have been suspended due to COVID dropped by 18 percent. For the first time since April, fewer than 3 million mortgages are in forbearance.
On Tuesday, C.A.R. released its 2021 housing forecast, predicting that low interest rates and high demand will bolster home sales in the coming year &mdash; but economic uncertainty due to the pandemic will limit sales growth.&nbsp;
<h6>Sources: C.A.R. Research &amp; Economics, The Los Angeles Times, The Mercury News, Inman News, Freddie Mac, CNBC</h6>

California Prices remain high while inventory tightens. The median home price in August was up 12.1 percent from a year earlier.

The Market & Industry: California prices remain high while inventory tightens

<h2>November Calendar of Online Events</h2>
Looking for some fun and interesting things to do this November from the safety and comfort of your home? Here is a great list of events and information to check out!
I will be looking into the Beer Festival and Macy's Parade myself. If you are a chocolate lover like myself the Northwest Chocolate Festival has everything you ever wanted to know and learn about chocolate !&nbsp;
Enjoy!
Boston New Music Festival &nbsp; Oct. 29-Nov. 15 Over two weeks, Bostons leading new music ensembles present the finest in new music with coordinated virtual concerts. <a href="http://www.bostonnewmusicfestival.org/">www.bostonnewmusicfestival.org</a> 
Banff Centre Mountain&nbsp;Film and Book Festival &nbsp; Oct. 31-Nov. 8 Film programs, guest speakers, and author events begin on October 31 and unique content will be released daily throughout the festival. <a href="http://www.banffcentre.ca/">www.banffcentre.ca</a>&nbsp; 
Texas Book Festival &nbsp; Oct. 31-Nov. 15 Two full weeks of free virtual sessions, including programming for adults, young adults, middle-grade readers, and children! The 2020 Texas Teen Book Festival will also take place during the two-week virtual festival, featuring conversations with acclaimed Young Adult authors aimed at teenage readers. <a href="http://www.texasbookfestival.org/">www.texasbookfestival.org</a> 
Dia de Muertos Festival Seattle &nbsp; Nov. 1 The festival continues to preserve the celebration for new generations to explore and understand its meaning in depth. The celebration is full of color, sounds, scents of incense, and marigold flowers. <a href="http://www.seattlecenter.com/">www.seattlecenter.com</a>&nbsp; 
Rehoboth Beach&nbsp;Independent Film Festival &nbsp; Nov. 5-15 Movie fans and film industry professionals alike gather every November for this amazing five-day event that showcases around 100 American and International films deemed to be the best in their genre. Guests may attend seminars, visit with celebrity guests and attend other special events.&nbsp; <a href="http://www.rehobothfilm.com/">www.rehobothfilm.com</a>
&nbsp;
Moab Folk Festival &nbsp; Nov. 6-7 Karen Savoca and Pete Heitzman, Jonathan Byrd and Dromedary, Sloan Wainwright, Kenny White, David Olney, Ferron, Harry Manx, Peter Mulvey, Cheryl Wheeler, Ellis, John Fullbright, Mark Erelli, Penny &amp; Sparrow, Hubby Jenkins, and May Erlewine. <a href="http://www.moabfolkfestival.com/">www.moabfolkfestival.com</a> 
NOLA Film Festival &nbsp; Nov. 6-22 Showcasing 160+ films virtually on our streaming channel + open-air screenings of a selection of films from the program on two outdoor screens at the Lafitte Greenway between November 6-16. <a href="http://www.neworleansfilmsociety.org/">www.neworleansfilmsociety.org</a> 
International Indian Cultural Festival &nbsp; &nbsp;Nov. 7 The goal of the IICF 2020 is to preserve and foster the Indian Culture in an international setting. There will be music, songs, dance, kids activities and networking.&nbsp; <a href="https://iicfestival.smartsociety.org/">https://iicfestival.smartsociety.org</a> 
Tyron Beer Festival &nbsp; Nov. 7 Zoom into Tryon, North Carolina for the 9th annual Beer Fest! Ticket price includes a mixed 12-pack of beer, merch and access to online entertainment.&nbsp; <a href="http://www.downtowntryon.org/">www.downtowntryon.org</a>&nbsp; 
Northwest Chocolate Festival &nbsp; Nov. 7-8 During the virtual festival week we will be hosting programming from cooking demos, to chocolate tastings, as well has holiday gift ideas and exclusive interviews and workshops.&nbsp; <a href="http://www.nwchocolate.com/">www.nwchocolate.com</a> 
International Virtual Tea Festival &nbsp; Nov. 7-8 A virtual tea experience including exclusive vendor content, vendor rooms where you can chat with vendors live, virtual tastings of their teas, showing how to prepare, how to use certain equipment, talking about where their teas come from. Depending on the ticket option you choose, you may also be able to taste samples of their teas along with their presentations! <a href="http://www.teafestivals.org/">www.teafestivals.org</a>
&nbsp;
Gainesville Downtown Festival/Art Show &nbsp; Nov. 7-8 A virtual celebration of art, music, and entertainment. Visitors can marvel at works from over 40 of the nation's most talented artists, who display original oils and acrylics, vibrant watercolors, captivating drawings, dazzling jewelry, decorative ceramics and vivid photography.&nbsp; <a href="https://gainesvilledowntownartfest.weebly.com/">https://gainesvilledowntownartfest.weebly.com</a> 
Maine Jewish Film Festival &nbsp; Nov. 7-22 The Maine Jewish Film Festival is a nonprofit organization whose mission is to provide a forum for the presentation of films to enrich, educate and entertain a diverse community about the global Jewish experience. <a href="http://www.mjff.org/">www.mjff.org</a> 
Future Festival &nbsp; Nov. 10-12 Join 7,000 of the worlds brightest insight leaders, from Starbucks &amp; Samsung, to Google &amp; NASA, whove relied on Future Festival to step back, think big, and spot opportunity with fresh, data-driven insight from the #1 trend firm. <a href="http://www.futurefestival.com/">www.futurefestival.com</a> 
Petaluma Holiday Art Fest &nbsp; Nov. 13 Artists and vintage sellers work all year to present some of the best Christmas shopping of the season at this Vintage and Christmas Art Show. Shop for gifts, decorations, or that perfect art piece to add to your collection.&nbsp; <a href="http://www.visitpetaluma.com/">www.visitpetaluma.com</a> 
Southern Utah Yoga Fest &nbsp; Nov. 13-14 Two full days of yoga, meditation, sound healing, lectures, music and delicious food. Over 15 different teachers and more than 20 different classes and workshops to choose from. <a href="http://www.southernutahyoga.com/">www.southernutahyoga.com</a> 
Babypalooza Baby Registry Expo &nbsp; Nov. 13-14 Visit one-on-one with exhibitors through live feeds. Learn about products to add to your baby registry direct from the brand reps. Attend health workshops with local experts. Play baby bingo and more in the Virtual Baby Shower room.&nbsp; <a href="http://www.babypalooza.com/">www.babypalooza.com</a>
&nbsp;
Women in Tech Festival &nbsp; Nov. 13-14 Silicon Valley Forum's annual Women in Tech Festival celebrates women in STEM, business, and leadership who work to inspire, engage, and empower other women.&nbsp; <a href="http://www.siliconvalleyforum.com/women-in-tech-festival">www.siliconvalleyforum.com/women-in-tech-festival</a> 
Rocky Mountain&nbsp;Womens Film Festival &nbsp; Nov. 13-21 The longest-running women's film festival in North America honors films and filmmakers that present the world as women experience it. Showcases documentary, narrative, shorts, and animated films that are thought-provoking, enriching, and encourage both global awareness and personal growth. <a href="http://www.rmwfilm.org/">www.rmwfilm.org</a> 
Snake River Storytelling&nbsp;Virtual Conference and Concert &nbsp; Nov.14 Enjoy five incredible workshops from nationally acclaimed storytellers. Later that evening, sit back and listen to these incredible storytellers from the comfort of your own home.&nbsp; <a href="https://snakeriverstorytelling.weebly.com/">https://snakeriverstorytelling.weebly.com</a>&nbsp; 
Spokane Fall Folk Festival &nbsp; Nov. 14-Dec. 30 Pre-recorded performances of entertainers selected from this years applicants streamed on our website and Facebook page. In keeping with our tradition of having vendors at our festivals, this years Virtual Festival will have a Festival Market Place where you can shop for unique and very special items. <a href="http://www.spokanefolkfestival.org/">www.spokanefolkfestival.org</a> 
Colorado Bridal Show &nbsp; Nov. 15 Plan, shop, talk to local vendors, register for prize giveaways. Plan your wedding in one day!&nbsp; <a href="http://www.theexpopros.com/">www.theexpopros.com</a> 
Saint Alphonsus Festival of Trees &nbsp; Nov. 19-30 Share in the magic as we virtually display a wonderland of holiday splendor, featuring lavishly decorated Christmas trees, wreaths, and inspirational decor that are available to bid on and purchase online. The Festival of Trees wouldnt be complete without a visit with Santa Claus.&nbsp; <a href="http://www.saintalphonsus.org/">www.saintalphonsus.org</a>
 Applewood Virtual Art Festival &nbsp; Nov. 20-21 Colorado Applewood artisans come to you virtually in the comfort and safety of your home. Shop at your leisure, connect with the artisans, and enjoy some holiday music.&nbsp; <a href="http://www.applewoodfestivals.com/">www.applewoodfestivals.com</a> 
ART on the Square Virtual Holiday Show &nbsp; Nov. 21 Discover unique and original gifts for everyone on your list. Visit and chat with artists in their virtual booths. You can also shop and buy directly from each artist's website for a stress-free holiday shopping experience.&nbsp; <a href="http://www.redwoodcity.org/">www.redwoodcity.org</a> 
San Francisco Int'l Hip Hop Dancefest &nbsp; Nov. 21 The world premiere of a commissioned work by curated dance artists from around the globe. Live performances by local artists. All-time favorite past SFIHHDF performances. Appearances by special guests. Online auction. <a href="http://www.sfhiphopdancefest.com/">www.sfhiphopdancefest.com</a> 
Chicago Toy &amp; Game Fair &nbsp; Nov. 21-22 North Americas largest toy &amp; game fair open to the public with experiential and immersive events, interactive exhibits and activities for all ages! Expand your brains, have fun, discover and experience new toys and games! <a href="http://www.chitag.com/fair">www.chitag.com/fair</a>&nbsp; 
Macy's Thanksgiving Day Parade &nbsp; Nov. 26 This year the celebration will shift to a television only special presentation, showcasing the Macy's Parade's signature mix of giant character helium balloons, fantastic floats, street performers, clowns and heralding the arrival of Santa Claus.&nbsp; <a href="http://www.macys.com/social/parade">www.macys.com/social/parade</a> 
Turkey Trails Virtual Race &nbsp; Nov. 26 A Thanksgiving themed run that is perfect for the whole family. The fun includes great swag (designer shirt, custom medal), online results with a great running community.&nbsp; <a href="http://www.runsignup.com/">www.runsignup.com</a>&nbsp;

Looking for some fun and interesting things to do this November from the safety and comfort of your home? Here is a great list of events to check out!

November Calendar of Online Events

According to the Federal Housing Finance Agency (FHFA), home prices grew by 5.4 percent in the second quarter of 2020 compared to a year ago, despite the impacts of COVID-19. Here are the significant findings from the FHFA:
<ul>
<li>- Home prices nationwide rose 5.4% in the year ending in the second quarter of 2020.</li>
<li>- Over the past three years, home prices rose at a 5.7% average annual rate.</li>
<li>- Over the past ten years, home prices rose at a 4.3% average annual rate.</li>
<li>- The map shows the percent change in home prices in the year ending in the second quarter of 2020 by state.</li>
</ul>
<img src="https://files.constantcontact.com/777ea95f701/6a12ae88-316d-4268-aec6-ce46221a5a64.jpg" border="0" width="768" height="551" />
&nbsp;
More significant findings include:&nbsp;
- House prices have risen for 36 consecutive quarters, or since September 2011.
- House prices rose in all 50 states and the District of Columbia between the second quarters of 2019 and 2020.
- The top five areas in annual appreciation were: 1) Idaho 10.8 percent; 2) Arizona 9.1 percent; 3) Washington 8.6 percent; 4) Utah 8.1 percent; and 5) New Mexico 7.7 percent. Idaho has been the leading state for the last 7 quarters. The areas showing the lowest annual appreciation were: 1) West Virginia 1.1 percent; 2) North Dakota 1.1 percent; 3) District of Columbia 1.4 percent; 4) Illinois 2.5 percent; and 5) Alaska 2.6 percent. ? House prices rose in 99 of the top 100 largest metropolitan areas in the U.S. over the last four quarters. Annual price increases were greatest in Urban Honolulu, HI, where prices increased by 11.7 percent.
- Prices were weakest in San Francisco-San Mateo-Redwood City, CA (MSAD), where they decreased by 0.3 percent. ? Of the nine census divisions, the Mountain division experienced the strongest fourquarter appreciation, posting a 7.0 percent gain between the second quarters of 2019 and 2020 and a 0.9 percent increase in the second quarter of 2020. The Mountain division has been the leading region for 11 consecutive quarters. Annual house price appreciation was weakest in the Middle Atlantic division, where prices rose by 4.5 percent between the second quarters of 2019 and 2020.&nbsp;
See below for the 100 top metro areas ranked by year over year price changes below. For your specific area or any questions, please reach out to us at 909-631-0006.
<img src="https://files.constantcontact.com/777ea95f701/b32520fe-683f-4912-aab2-bae847f5c685.jpg" border="0" alt="" width="849" height="1188" />

Home prices grew by 5.4 percent in the second quarter of 2020 compared to a year ago, despite the impacts of COVID-19.

Keeping Current: Home Price Changes in the Past Year

Online events are virtual and highly interactive, where people come together to learn and be entertained on the web. No matter what you're looking for there's a virtual event that's just right for you. Check out October's calendar to see what fun events interest you!
&nbsp;
Plano Virtual Comedy Festival &nbsp; Oct. 1-4 A weekend of comedy events you can attend right from the comfort of your laptop, desktop or mobile phone! Featuring some of the best comedians in the country, we're bringing all the fun of Plano Comedy Festival straight to you without you having to leave your home! <a href="http://www.planocomedyfestival.com/">www.planocomedyfestival.com</a> 
Virtual Bronx Book Fair &nbsp; Oct. 2-5 Literary fun includes panel discussions, keynote speaker, children story hour, women panel, writing workshops and music. <a href="http://www.pw.org/literary_events/virtual_bronx_book_fair">www.pw.org/literary_events/virtual_bronx_book_fair</a> 
Portland Dance Film Fest &nbsp; Oct. 2-11 Ten days of over 60 films screenings, workshops, world premieres, and fun. 26 spectacular PDFF Picks, 9 moving documentaries, 24 mini films created while sheltering in place, and the world premiere of the Oregon Dance Film Commission. <a href="http://portlanddancefilmfest.com/">http://portlanddancefilmfest.com</a>&nbsp; 
The Ozarks Maker Faire &nbsp; Oct. 3 We will be celebrating and showcasing a variety of makers whether theyre of the fine arts type maker or the industrial maker. Just a few examples are: hacker, woodworker, silversmith, coder, drone pilot, baker, and candlestick maker!&nbsp; <a href="https://theozarks.makerfaire.com/">https://theozarks.makerfaire.com</a> 
Ohio Poetry Day Virtual Celebration &nbsp; Oct. 3 The afternoon kicks off with a reading by Kari Gunter-Seymour, who will then be interviewed by OPA President Chuck Salmons. After a short break, the OPD contest winners will be invited to read their winning poems. <a href="http://www.ohiopoetryassn.org/">www.ohiopoetryassn.org</a> 
Int'l Edgar Allan Poe Festival &amp; Awards &nbsp; Oct. 3-4 Poe-themed performances, vendors, booksellers and music, plus family-friendly activities, poetry and art.&nbsp; <a href="http://www.poefestinternational.org/">www.poefestinternational.org</a> 
Say NO Bullying Virtual Festival &nbsp; Oct. 4 Will feature entertainment, empowerment speakers and celebrity appearances. Join the worldwide community and Say NO Bullying.&nbsp; <a href="http://www.saynobullying.org/festival">www.saynobullying.org/festival</a>&nbsp; 
The New Yorker Festival &nbsp; Oct. 5-11 Will feature talks, panel discussions, and performances with some of the most talented and influential figures of our time, from the worlds of politics, activism, literature, food, and entertainment.&nbsp; <a href="http://www.newyorker.com/">www.newyorker.com</a> 
Concert of Colors &nbsp; Oct. 6-11 The Concert of Colors is metro Detroits free annual diversity-themed music festival. &nbsp;Global music at its finest at this colorful, festive, upbeat coveted summer event. &nbsp; <a href="http://www.concertofcolors.com/">www.concertofcolors.com</a> 
Good Mental Health Festival &nbsp; Oct. 9 The Good Mental Health festival is designed to improve the way people think and feel about mental health, the festival includes positive mental health talks, presentations &amp; workshops.&nbsp; <a href="http://www.thisiscalmer.com/good-mental-health-festival">www.thisiscalmer.com/good-mental-health-festival</a> 
Fort Collins Book Fest &nbsp; Oct. 9-11 &amp; 16-18 The book fest includes a variety of interviews with authors, book talks, readings, panels and writers workshops. <a href="http://www.focobookfest.org/">www.focobookfest.org</a> 
Oyster Festival &nbsp; Oct. 10-18 Virtual festival-goers will be able to access and participate in an entire weeks worth of fun, informative and downright delicious activities, including: virtual tours of the oyster life, including habitat, harvesting and history and livestream presentation and conversation with an oyster historian.&nbsp; <a href="http://www.yorkhistorycenter.org/event/oysterfest">www.yorkhistorycenter.org/event/oysterfest</a>&nbsp; 
Digital Chocolate Festival &nbsp; Oct. 14-20 At Celebrate Cacao our mission is to share our passion for, and educate others about the fine quality, bean-to-bar, ethically produced chocolate being made right here in the UK! The Digital Chocolate Festival has been created as a platform to continue to promote and advocate for craft chocolate makers during the global pandemic we find ourselves in. <a href="https://celebratecacao.co.uk/">https://celebratecacao.co.uk</a> 
Wild &amp; Scenic Film Festival &nbsp; Oct. 15 A series of thought-provoking and breathtaking local, national and global short films exploring the protection and restoration of wild lands and waters, food systems, climate change, biodiversity, litter prevention, and much more.&nbsp; <a href="http://www.prc.org/filmfestival">www.prc.org/filmfestival</a>&nbsp; 
Rare Books LA Virtual Book Fair &nbsp; Oct. 15-18 Rare books, fine prints, classic photography, unique ephemera and more await your discovery online. <a href="http://www.rarebooksla.com/">www.rarebooksla.com</a> 
The Virtual Kentucky Bourbon Festival &nbsp; Oct. 15-18 Promotes Kentucky Bourbon &amp; the Bourbon Capital of the World by hosting a celebration that contributes to the economic and cultural vitality of our communities in Bardstown, Kentucky.&nbsp; <a href="http://www.kybourbonfestival.com/">www.kybourbonfestival.com</a> 
AFI (American Film Institute) FEST 2020 &nbsp; Oct. 15-22 The virtual edition will have the same programming structure with sections highlighting new auteurs and world cinema, as well as filmmaker conversations and the AFI Summit.&nbsp; <a href="http://www.afi.com/">www.afi.com</a> 
OC Film Fiesta Festival &nbsp; Oct. 15-25 Featuring more than 40 films from around the world, conversations with filmmakers, workshops and special programs, this years OC Film Fiesta will be a virtual event that can be enjoyed anywhere!&nbsp; <a href="http://www.ocfilmfiesta.org/">www.ocfilmfiesta.org</a> 
Bronzeville Art District Virtual Trolley Tour &nbsp; Oct. 16 You can virtually visit any of the galleries, art institutions or studios and experience amazing art and entertainment.&nbsp; <a href="http://www.bronzevilleartdistrict.com/">www.bronzevilleartdistrict.com</a>&nbsp;
 RetroPop Live! Halloween &nbsp; Oct. 17 What better way to celebrate the Halloween season than with a Horror festival filled with nostalgia? Enjoy cast reunions from iconic 80s and 90's horror movies including the cult classic Killer Klowns From Outer Space, a Friday the 13th 40th Anniversary Cast Reunion, Child's Play, virtual meet &amp; greets, autograph signings and collectible spotlights. <a href="http://www.retropoplivehalloween.com/">www.retropoplivehalloween.com</a> 
EarthxConservation &nbsp; Oct. 19-21 This three-day virtual event is designed to raise awareness about conservation and responsible resource use, and create understanding about how appropriately managed hunting, fishing, and agricultural activities around the world are critical to further conservation resulting in environmentally protective use of the biosphere. <a href="http://www.earthx.org/">www.earthx.org</a> 
International Yoga Festival 2020 &nbsp; Oct. 21-25 This yoga festival offers yoga classes, lectures, meditation, workshops, music, kirtan, wellness, inspirational talks and much more at the comfort of your own home.&nbsp; <a href="http://www.eventbrite.com/">www.eventbrite.com</a>&nbsp; 
Austin Film Festival &amp; Conference &nbsp; Oct. 22-29 Recognized as one of the top film festivals in the country, this cinematic event shines the spotlight on both top-billed films and indies alike. <a href="http://www.austinfilmfestival.com/">www.austinfilmfestival.com</a> 
Denver Film Festival &nbsp; Oct. 22-Nov. 8 This year we are hosting the Festival on our new virtual platform, which will allow us to bring Official Selections, exclusive filmmaker conversations, bonus content, special guests and more, to all of Colorado. <a href="http://www.denverfilm.org/">www.denverfilm.org</a> 
Boston Veg Food Fest 2020 &nbsp; Oct. 24 A special and exciting virtual event including outstanding speakers, a platform for vegan products and businesses and nonprofit and a Vegan Marketplace.&nbsp; <a href="http://www.bostonveg.org/foodfest">www.bostonveg.org/foodfest</a>
 Fall for Art &nbsp; Oct. 25-30 A juried art show &amp; sale virtual fundraiser sponsored by the Jewish Federation of Ulster County featuring artists of the Hudson Valley showing and selling their 2D and 3D work.&nbsp; <a href="http://www.fallforart.org/">www.fallforart.org</a> 
Virtual Halloween Painting Party &nbsp; Oct. 31 Hosted by Paint for a Purpose. 1.5 hour course led by an expert artist to guide you through the creation of a spooky painting inspired by Halloween. Release your creativity while painting along. No experience needed.&nbsp; <a href="http://www.eventbrite.com/">www.eventbrite.com</a> 
Halloween Cookie Decorating Class &nbsp; Oct. 31 Sign up to learn the basics and decorate Halloween cookies with founder and baker Vonteyah of Sweetie Vs Desserterie! This is a class for beginners and no experience is necessary! Also, this class is online only! Each step will be demonstrated along the way. <a href="http://www.eventbrite.com/">www.eventbrite.com</a>

Check out October's calendar to see what fun events interest you!

October 2020 Online Events Calendar

<div><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/articles/110051/1.jpg" border="0" alt="&lt;span&gt;Photo by &lt;a href=&quot;https://unsplash.com/@tierramallorca?utm_source=unsplash&amp;amp;utm_medium=referral&amp;amp;utm_content=creditCopyText&quot;&gt;Tierra Mallorca&lt;/a&gt; on &lt;a href=&quot;https://unsplash.com/s/photos/offer-accepted?utm_source=unsplash&amp;amp;utm_medium=referral&amp;amp;utm_content=creditCopyText&quot;&gt;Unsplash&lt;/a&gt;&lt;/span&gt;" width="401" height="301" /></div>
<div>&nbsp;</div>
<div>Here are seven tips to increase your chances of getting your dream house in a competitive housing market.</div>
<div>&nbsp;</div>
<div>
1. Get prequalified for a mortgage. You&rsquo;ll be able to make a firm commitment to buy and your offer will be more desirable to the seller.
</div>
<div>
2. Stay in close contact with your real estate agent. Your agent will be on the lookout for the newest listings that meet your criteria. Be ready to see a house as soon as it goes on the market &mdash; if it&rsquo;s a great home, it will go fast.
</div>
<div>
3. Scout out new listings yourself. Browse sources such as realtor.com and local real estate listing sites. Set up alerts for the neighborhoods and characteristics you&rsquo;re looking for. Drive through your target neighborhoods, and if you see a home you like for-sale, send the address and listing agent&rsquo;s name to your agent, who can schedule a showing for you.
</div>
<div>
4. Be ready to make a decision. Spend plenty of time in advance deciding what you can afford and must have in a home so you won&rsquo;t hesitate when you have the chance to make an offer.
</div>
<div>
5. Bid competitively. Your first inclination may be to start out offering something less than the absolute highest price you can afford, but if you go too low in a tight market, you will likely lose out.
</div>
<div>
6. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move can make your offer unappealing. Remember that, if the market is tight, you&rsquo;ll probably be able to sell your house rapidly. You can also talk to your lender about getting a bridge loan to cover both mortgages for a short period.
</div>
<div>
7. But don&rsquo;t get caught in a buying frenzy. Just because there&rsquo;s competition for a home doesn&rsquo;t mean you should buy it. And even though you want to make your offer attractive, don&rsquo;t neglect inspections that help ensure the house is a sound investment.
For more information or anything you may need, please contact us at 909-631-0006.&nbsp;
</div>

How to increase your chances of getting your dream house in a competitive housing market.

7 Tips to Get Your Offer Accepted in a Tight Market

<header>
<h1><img src="https://files.mykcm.com/2020/09/03135454/20200908-KCM-Share.jpg" border="0" alt="Have You Ever Seen a Housing Market Like This? | MyKCM" width="750" height="410" style="font-size: 14px;" /></h1>
</header>
The year 2020 will certainly be one to remember, with new realities and norms that changed the way we live. This year&rsquo;s real estate market is certainly no exception to that shift, with historic highlights continuing to break records and challenge what many thought possible in the housing market. Here&rsquo;s a look at four key areas that are fundamentally defining the market this year.
<h4>Housing Market Recovery</h4>
The economy was intentionally put on pause this spring in response to the COVID-19 health crisis. Many aspects of the common real estate transaction were placed on hold at the same time. Thankfully,&nbsp;technology&nbsp;and innovation helped the industry power forward, and business gradually ramped back up as shelter-in-place orders were lifted.
The result? Total transformation of the market from rock-bottom lows to exceptional highs. Today, the housing recovery is being called truly remarkable by many experts and is far exceeding expectations. From&nbsp;pending home sales&nbsp;to&nbsp;<a href="https://www.keepingcurrentmatters.com/2020/08/19/just-how-strong-is-the-housing-recovery/" title="purchase applications">purchase applications</a>, buyers are back in business and homes are selling &ndash;&nbsp;fast.
According to the&nbsp;<a href="https://www.realtor.com/research/housing-market-recovery-index/" target="_blank" title="Housing Market Recovery Index" rel="noopener noreferrer">Housing Market Recovery Index</a>&nbsp;by&nbsp;<a href="http://realtor.com/">realtor.com</a>, the market has surpassed pre-pandemic levels, and has regained the strength we remember from February of this year&nbsp;(See graph below):<a href="https://quicktours-static.s3.us-west-1.amazonaws.com/articles/110022/1.jpg" target="_blank" rel="noopener noreferrer"><img src="https://files.mykcm.com/2020/09/03135456/20200908-MEM-Eng-1.jpg" border="0" alt="Have You Ever Seen a Housing Market Like This? | MyKCM" width="600" height="450" /></a>
<h4>Record-Breaking Mortgage Rates</h4>
Historically&nbsp;low&nbsp;mortgage rates are another 2020 game-changer. Today&rsquo;s low rate is one of the big motivating factors bringing buyers back into the market. The average rate reached an all-time low on multiple occasions this year, and it continues to hover in record-low territory.
When rates are this low, buyers have a huge opportunity to get more for their money when purchasing a home, something many are eager to find while continuing to spend&nbsp;<a href="https://leticiaandassociates.us3.list-manage.com/track/click?u=74d5d1087cdd4ddcae16f3d28&amp;id=f937d193cb&amp;e=38f84acc76" title="more time">more </a>time&nbsp;than expected at home this year, and likely beyond.
<h4>Continued Home Price Appreciation</h4>
One of the key drivers of home price appreciation this year is historically low&nbsp;<a href="https://www.keepingcurrentmatters.com/2020/07/20/thinking-of-selling-your-house-now-may-be-the-right-time/" title="inventory">inventory</a>. Inventory was low going into the pandemic, and it is still sitting well below the level needed for a normal market. Although sellers are slowly making their way back into the game, buyers are scooping up homes faster than they&rsquo;re coming up for sale.
This is a classic supply and demand scenario, forcing home prices to rise. Selling something when there is a higher demand for what is available naturally bumps up the price. If you&rsquo;re ready to sell your house today, this may be the optimal time to make your move. As Bill Banfield,&nbsp;EVP of Capital Markets&nbsp;at&nbsp;Quicken Loans,&nbsp;<a href="https://themreport.com/daily-dose/07-28-2020/home-price-increases-decelerate" target="_blank" title="notes" rel="noopener noreferrer">notes</a>:
<blockquote>
&ldquo;The pandemic&nbsp;has not stopped the consistent home price growth&nbsp;we have witnessed in recent years.&rdquo;&nbsp;
</blockquote>
<h4>Increasing Affordability</h4>
Even as home prices continue to rise,&nbsp;<a href="https://www.keepingcurrentmatters.com/2020/09/01/its-not-just-about-the-price-of-the-home/">affordability</a>&nbsp;is working in favor of today&rsquo;s homebuyers. According to many experts, rates this low are off-setting rising home prices, which increases buyer purchasing power &ndash; an opportunity not to be missed, especially if your family&rsquo;s needs have changed. If you now need space for a home office, gym, virtual classroom, and more, it may be time to&nbsp;<a href="https://www.keepingcurrentmatters.com/2020/09/04/the-2020-homebuyer-wish-list-infographic/">reconsider</a>&nbsp;your current house.
According to&nbsp;<a href="http://www.mortgagenewsdaily.com/08032020_black_knight_mortgage_monitor.asp">Mortgage News Daily</a>:
<blockquote>
&ldquo;Those shopping for a home can afford 10 percent more home than they could have one year ago while keeping their monthly payment unchanged. This translates into nearly&nbsp;$32,000 more buying power.&rdquo;
</blockquote>
<h3>Bottom Line</h3>
With mortgage rates hitting historic lows, home prices appreciating, affordability rising, and the market recovering like no other, 2020 has been quite a year for real estate &ndash; perhaps one we&rsquo;ve never seen before and may never see again.&nbsp;
<h4> Let&rsquo;s connect today if you&rsquo;re ready to take advantage of this year&rsquo;s record-breaking opportunities.</h4>

Have You Ever Seen a Housing Market Like This?

DOES THE IDEA OF SELLING YOUR HOME LEAVE YOU OVERWHELMED? I know the feeling! That's why I have broken down the selling process into a simple, yet strategic four step method. If you're considering selling your home, I've got some good news for you: I am giving out my Simply Selling digital guide for FREE all month long!&nbsp; This guide will answer all of your questions about selling your home, and not overwhelm you with the process. If you&rsquo;re like most sellers, you want to wow prospective buyers, but you don&rsquo;t want to break the bank. Guess what?! Getting your home ready doesn&rsquo;t have to come with a hefty price tag.&nbsp; If you&rsquo;ve got a few open weekends and a can-do spirit, you can knock out these cost-efficient upgrades in no time. &bull; Paint the walls and trim. Smudgy walls and dingy trim are so out. Refresh both with calming, neutral colors that appeal to a wide range of tastes and preferences. If time is short, start with the living room and kitchen and then work your way to the bedrooms. &bull; Refresh the yard. Fresh mulch, colorful annuals, and a couple of planting urns for the entryway make stellar curb appeal a cinch. &bull; Clean, declutter, and repeat. There is nothing worse than a listing that&rsquo;s dirty. Deep clean and declutter before your home hits the market. Later, when it&rsquo;s time for a showing, it&rsquo;ll just take a quick wipe-down to straighten up.&nbsp; A quick word of caution: Before you spend one penny on home improvements, you&rsquo;ll wanna talk with a REALTOR familiar with your market. They&rsquo;ll have extensive knowledge of in-demand upgrades that&rsquo;ll help you get top dollar in your neighborhood. If you'd like to download my free Simply Selling guide, click the picture below to get your copy now! If you have any questions or need anything, just give me a call at 909-631-0006 any time!
<a href="https://files.constantcontact.com/777ea95f701/57edaa7b-9b28-40a4-88b4-2cc3b08bdb42.pdf" title="Simply Selling Digital Guide"><img src="https://files.constantcontact.com/777ea95f701/10835081-35ea-4ef8-ae3d-b48a1c45853a.png" border="0" alt="Simply Selling" width="440" height="570" /></a>

DOES THE IDEA OF SELLING YOUR HOME LEAVE YOU OVERWHELMED? Download your free copy of "Simply Selling" outlining the process in 4 simple steps.

FREE DOWNLOAD: Simply Selling Digital Guide

5 ways it could cost you plenty by waiting to put your property on the market.
1. Interest rates &ndash; over history interest rates have fluctuate up and down. No one can guarantee that interest rates will not go up again. Currently, we know what rates are, if rates increase, buyers are knocked out of the marketplace. With fewer buyers in the marketplace, the chances of finding a buyer willing to pay your price decreases. You can&rsquo;t predict what&rsquo;s going to happen with interest rates. Nobody can. there is an advantage in dealing with a known set of circumstances.
2. New property could cost more &ndash; if you&rsquo;re buying a new property that&rsquo;s more expensive, you could cost yourself plenty. For example, let&rsquo;s say your&rsquo;re selling a $100,000 property and looking to buy a $150,000 property. If both properties appreciate at the same rate of 3% over the next months, you gain $3,000 on your existing property. However, the $150,000 property will now cost you $154,500 or a net loss of $1500.
3. Time is on your side &ndash; the very fact that you have time on your side could save you thousands. Many sellers that have waited have put themselves in a &ldquo;have to&rdquo; sell situation, and had to accept an offer for less than what they wanted. The fact is when you have time on your side, you won&rsquo;t feel presumed to accept an offer that&rsquo;s less than what you wanted.
4. Supply and demand &ndash; right now in the marketplace there are a certain number of buyers and a certain number of seller. We are currently dealing with a know set of circumstances. There is no guarantee that in a few weeks, or few months, there might be fewer buyers, or more sellers in the marketplace. Either way by waiting you are taking a gamble with accomplishing your real estate objectives.
5. Tax changes &ndash; Currently we enjoy a number of benefits for owning property. See your accountant for tax advice. Should the federal government decide to change capital gains or interest deductions, you could risk the currently tax advantages which we currently enjoy. The only thing that never changes is change itself.
It might be more convenient to wait to put your property on the market for various reasons. If you knew by waiting you could be costing yourself $3,000 or more, would you still want to wait? Part of the reason you hire a professional is to provide you with all the facts so you can make a informed decision.
A word about timing. There are many factors that come into play when deciding to sell a property and timing can be one of the most important factors. It&rsquo;s important to work with a real estate professinal that cares enough to take the time to learn about your particular real estate objectives. Just as a doctor or a lawyer should present all the facts for you to make a informed decision, look for a real estate professional that will give you all the facts when it comes to the sale of your property. IF money is a consideration in the sale of your property, carefully consider each of the 5 ways sellers have lost money. When moving up, or moving down, most people contemplating selling a property do so because they want to enjoy a better lifestyle. When is the best time to enjoy what you want?
Contact us today for a complimentary market valuation on your home.

There are many factors that come into play when deciding to sell a property and timing can be one of the most important factors.

5 WAYS IT COULD COST YOU PLENTY BY WAITING – TIMING IS EVERYTHING

Your Economic Update and Mortgage Minute 8/26/2020:
Federal Reserve continues to come up with ways to stabilize the markets and interest rates. Federal Reserve continue to buy mortgage back securities (about 4.2 Billion Daily).
The stock market continues to increase this week (specially NASDAQ) &ndash; concerns the health pandemic is taking a back seat to earning and possibility of vaccine.
FHFA &ndash; who controls Fannie Mae and Freddie Mac on August 12th decided to attach a .50 point tax for all refinance transactions effective immediately. Lenders will pass this extra cost to the consumer through higher fees or higher interest rates.&nbsp;&nbsp; Banks, Mortgage Bankers, and Mortgage Brokers are going to congress to get this reversed.&nbsp;
Initial Jobless claims report improved this week. For the first time in 27 weeks we are below 1 million claims.&nbsp; Good news for the economy.
Unemployment report dropped from 11.2% to 10.1% in July.
New Mortgage Applications &ndash; Purchase and Refinance applications were down this week as interest rates started to rise.
The CPI and PPI reports showed inflation starting to increase &ndash; which usually means interest rates will also rise.
Home Appreciation for the first six months of 2020 is around 4.9% nationwide. Price of homes are not coming down due to the lack of good inventory.
Congress has stalled this week in reaching an agreement for the next stimulus package &ndash; President Trump signed executive orders to unfreeze dollars to help consumers during this health pandemic.
First Quarter GDP was down -5% / Just received Second Quarter GDP and it was down -32.9% Lowest in US history. Hopefully the 3rd and 4th quarters will come back.
Bidding wars are continuing to heat up with low rates and limited inventory. 60% of agents surveyed said bidding wars are on the rise, as reported in REALTOR Magazine.
New Guidelines from Fannie Mae and Freddie Mac &ndash; regarding self employed borrowers. Lenders will require a Profit and Loss for the current year and will also review the borrower&rsquo;s assets and cash flow to justify that profit and loss statement.
<h3>Current Interest Rates:</h3>
<h5>08/14/20 &ndash;Interest rates went up this week due to inflation reports, but still great rates!</h5>
<h5>(Based on a 740 FICO / Purchase / 20% down / Single Family / 0 Points) *</h5>
<table border="1">
<tbody>
<tr>
<td>
30 Year Fixed Conforming
</td>
<td>
3.000%&nbsp;&nbsp;&nbsp; (3.083% APR)&nbsp;
</td>
</tr>
<tr>
<td>
15 Year Fixed Conforming
</td>
<td>
2.625%&nbsp; &nbsp;&nbsp;(2.741% APR)&nbsp;
</td>
</tr>
<tr>
<td>
30 Year VA/FHA Loan Conforming
</td>
<td>
2.625%&nbsp;&nbsp;&nbsp; (2.913% APR)
</td>
</tr>
<tr>
<td>
30 Year High Balance Conforming
</td>
<td>
3.250%&nbsp;&nbsp;&nbsp; (3.363% APR)&nbsp;&nbsp;&nbsp;&nbsp;
</td>
</tr>
</tbody>
</table>
&nbsp;
If you have any questions or need anything, give us a call! &nbsp;

Your Economic Update and Mortgage Minute 8/26/2020

<img src="https://files.constantcontact.com/777ea95f701/1ec46811-355d-4f56-8fd0-0fcf7270f8da.png" border="0" alt="How Remote Work and Online School is Changing Homebuyer Needs" width="455" height="455" />
&nbsp;
With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs.&nbsp;Do I still need to live close to my company&rsquo;s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family?&nbsp;All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving homeownership needs.
Additionally, with schools starting out the school year virtually, the need for larger homes, work spaces and quiet areas have never been more top of mind for parents.
Working remotely and online schooling is definitely&nbsp;<a href="https://www.realtor.com/research/home-buying-2020-remote-work-post-covid/">changing</a>&nbsp;how Americans spend their time at home, and also how they use their available square footage. Homeowners aren&rsquo;t just looking for a room for a home office, either. The desire to have a home gym, an updated kitchen, and&nbsp;<a href="https://www.keepingcurrentmatters.com/2020/07/30/will-we-see-a-surge-of-homebuyers-moving-to-the-suburbs/">more space</a>&nbsp;in general &ndash; indoor and outdoor &ndash; are all key factors motivating some buyers to change their home search parameters.
A recent&nbsp;realtor.com-HarrisX&nbsp;survey&nbsp;<a href="https://themreport.com/daily-dose/07-29-2020/how-remote-working-is-impacting-homebuyer-sentiment">indicates</a>:
<blockquote>
&ldquo;In a June poll of 2,000 potential home shoppers who indicated plans to make a purchase in the next year,&nbsp;63% of those currently working from home stated their potential purchase was a result of their&nbsp;ability to work remotely, while nearly 40% [of] that number expected to purchase a home within four to six months and&nbsp;13% said changes related to pandemic fueled their interest in buying a new home.
</blockquote>
Clearly, Americans are thinking differently about homeownership today, and through a new lens. The&nbsp;National Association of Home Builders&nbsp;(NAHB)&nbsp;<a href="http://eyeonhousing.org/2020/07/new-home-sales-jump-in-june/">notes</a>:
<blockquote>
&ldquo;New single-family home sales jumped in June, as housing demand was supported by low interest rates, a&nbsp;renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs.&rdquo;
</blockquote>
Through these challenging times, you may have found your home becoming your office, your children&rsquo;s classroom, your workout facility, and your family&rsquo;s safe haven. This has quickly shifted what home truly means to many American families. More than ever, having a place to focus on professional productivity while many competing priorities (and distractions!) are knocking on your door is challenging homeowners to get creative, use space wisely, and ultimately find a place where all of these essential needs can realistically be met. In many cases, a new home is the best option.
In today&rsquo;s real estate market, making a move while&nbsp;<a href="https://www.keepingcurrentmatters.com/2020/07/17/mortgage-rates-fall-below-3-infographic/">mortgage rates</a>&nbsp;are hovering at historic lows may enable you to purchase more home for your money, just when you and your family need it most.
<h3>Bottom Line</h3>
If your personal and professional needs have changed and you&rsquo;re ready to accommodate all of your family&rsquo;s competing priorities, reach out to a local real estate professional today. Making a move into a larger home may be exactly what you need to set your family up for optimal long-term success. To discuss your options, give us a call today at 909-631-0006.

With more employees working remotely and students going to school virtually, homeowners throughout the country are re-evaluating their needs.

How Is Remote Work (and Online School) Changing Homebuyer Needs?

<img src="https://files.keepingcurrentmatters.com/wp-content/uploads/2020/08/19150005/20200820-KCM-Share.jpg" border="0" alt="Forbearance Numbers are Lower Than Expected" width="750" height="410" />
Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end. Some even worried that we might relive the 2006-2008 housing crash all over again. Once you examine the data, however, that seems unlikely.
As&nbsp;<a href="https://blog.firstam.com/economics/this-time-its-different-why-a-wave-of-foreclosures-is-unlikely">reported</a>&nbsp;by Odeta Kushi,&nbsp;Deputy Chief Economist&nbsp;for&nbsp;First American:
<blockquote>
&ldquo;Despite the federal foreclosure moratorium, there were fears that up to 30% of homeowners would require forbearance, ultimately leading to a foreclosure tsunami.&nbsp;Forbearance did not hit 30%, but rather peaked at 8.6% and has been steadily falling since.&rdquo;
</blockquote>
According to the&nbsp;<a href="https://www.blackknightinc.com/blog-posts/forbearances-below-4-million-for-first-time-since-april/">most current data</a>&nbsp;from&nbsp;Black Knight,&nbsp;the percentage of homes in forbearance has fallen to 7.4%. The report also gives the decrease in raw numbers:
<blockquote>
&ldquo;The overall trend of incremental improvement in the number of mortgages in active forbearance continues. According to the latest data from Black Knight&rsquo;s McDash Flash Forbearance Tracker, the number of mortgages in active forbearance fell by another 71,000 over the past week, pushing the total under 4 million for the first time since early May.&rdquo;
</blockquote>
&nbsp;
Here&rsquo;s a graph showing the decline in forbearances over the last several months:
<img src="https://files.keepingcurrentmatters.com/wp-content/uploads/2020/08/19150007/20200820-NM-Eng-1.jpg" border="0" alt="Graph showing decline in forbearances" width="551" height="413" />
The report also explains that across the board, overall forbearance activity fell with 10% fewer new forbearance requests and nearly 40% fewer renewals.
<h4>What about potential foreclosures once forbearances end?</h4>
Kushi also addresses this question:
<blockquote>
&ldquo;There are two main reasons why this crisis is&nbsp;unlikely to produce a wave of foreclosures similar to the 2008 recession. First, the housing market is in a much stronger position compared with a decade ago. Accompanied by more rigorous lending standards, the household debt-to-income ratio is at a four-decade low and household equity near a three-decade high. Indeed, thus far, MBA data indicates that the majority of homeowners who took advantage of forbearance programs are either staying current on their mortgage or paying off the loan through a home sale or a refinance. Second, this service sector-driven recession is disproportionately impacting renters.&rdquo;
</blockquote>
<h4>There is one potential challenge</h4>
Today, the options available to homeowners will prevent a large spike in foreclosures. That&rsquo;s good not just for those families impacted, but for the overall housing market. A&nbsp;<a href="https://www.fanniemae.com/portal/research-insights/perspectives/2020/covid-consumer-outreach-home-purchase-081220.html">recent study</a>&nbsp;by&nbsp;Fannie Mae,&nbsp;however, reveals that many Americans are not aware of the options they have.
It&rsquo;s imperative for potentially impacted families to better understand the mortgage relief programs available to them, for their personal housing situation and for the overall real estate market.
<h3>Bottom Line</h3>
If Americans fully understand their options and make good choices regarding those options, the current economic slowdown does not need to lead to mass foreclosures. If you have any questions or need assistance, please give us a call at 909-631-0006.&nbsp;

Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end.

Forbearance Numbers Are Lower than Expected

<h2>&nbsp; Economic Updates:</h2>
<ul style="list-style-type: circle;">
<li>Federal Reserve continues to come up with ways to stabilize the markets and interest rates. Federal Reserve is now buying corporate bonds this week.&nbsp; Federal Reserve Chairman also asked Congress to do more to help Main Street and not as much Wall Street &ndash; We may see another stimulus bill getting approved!!!</li>
<li>The stock market had it best gains in June (in history) but it is still down from it&rsquo;s highs in February by 13%. July starting out strong but there are some concerns about the Health Pandemic slowing things down again.</li>
<li>Initial Jobless claims report was expecting to drop but instead increased to 1.427 million. We continue to see increases in these number for six straight weeks. &nbsp;Why is the unemployment rate going down while we see increases in initial jobless claims??</li>
<li>Unemployment rate dropped from 13.3% to 11.1% - this is a survey taken out to consumers across the country. Based on the numbers that I see weekly the unemployment should be closer to 13.5% (we still have about 19 million people still unemployed).</li>
<li>New Mortgage Applications &ndash; new purchase applications dropped only 1% this week. New refinance applications have also dropped a little but still up 76% year to date.</li>
<li>Congress has decided to extend the PPP plan for small businesses until August 8th. They may also extend the $600.00 added to unemployment checks till January &ndash; we will see if they decide to extend. The Treasury Department also has another problem &ndash; 1.1 million people received checks &ndash; many cashed &ndash; problem is these people are dead.&nbsp; This comes out to a little over 1.4 Billion Dollars.</li>
<li>GDP for the 1st quarter was revised to a negative 5% for January through March 2020. Some economists are saying that we could see a negative GPR for April through June &ndash; some say close to a negative 25%.</li>
</ul>
<h3>&nbsp;</h3>
<h3>Current Interest Rates:</h3>
<h5>06/19/20 &ndash; Interest rates will be volatile this week!!&nbsp;(Based on a 740 FICO / Purchase / 20% down / Single Family / 0 Points) *</h5>
<table border="1">
<tbody>
<tr>
<td>
30 Year Fixed Conforming
</td>
<td>
3.125%&nbsp;&nbsp;&nbsp; (3.221% APR)
</td>
</tr>
<tr>
<td>
15 Year Fixed Conforming
</td>
<td>
2.750%&nbsp; &nbsp;&nbsp;(2.854% APR)
</td>
</tr>
<tr>
<td>
30 Year VA/FHA Loan Conforming
</td>
<td>
2.750%&nbsp;&nbsp;&nbsp; (2.919% APR)
</td>
</tr>
<tr>
<td>
30 Year High Balance Conforming
</td>
<td>
3.375%&nbsp;&nbsp;&nbsp; (3.485% APR)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp;&nbsp;
</td>
</tr>
</tbody>
</table>
&nbsp;
If you have any questions or need anything, give us a call! &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;

Your Economic Update and Mortgage Minute for 7-4-2020

Pet Safety During 4th of July - More pets go missing during the 4th of July. Here are some great tips to ensure their safety!

Pet Safety During 4th of July

<img src="https://quicktours-static.s3.us-west-1.amazonaws.com/articles/106210/1.jpg" border="0" alt="4th of July Safety Tips" width="514" height="756" />
Fireworks Safety - Never allow young children to play with or ignite fireworks. - Do not attempt to re-light or pick up fireworks that have not fully ignited. - Keep a water source nearby in case of fire-related mishaps. Grilling Safety - Place grill in well-ventilated area. - Keep grill away from children and pets. - Always be in attendance. A 2013 National Fire Protection Association study found that throughout the U.S., grills were involved in 8,900 home fires, which caused 10 deaths, 160 injuries and $118 million in property damages. Swimming Safety - Never leave children unattended. - Know and observe your swimming limitations and capabilities. - Stay out of water during thunderstorms and severe weather. Heat Illness - Heat related illnesses and deaths are preventable. - Stay hydrated. - Wear light-weight, lightly colored and loose-fitting clothes. Sports Injury and Prevention - Ensure you are physically able to play. Adhere to restrictions a physician may place on you or your child. - Wear all required protective equipment for the sport you intend to participate in. According to a 2013 U.S. Air Force Safety Center study, sports were the cause of 2,468 injuries on-duty and 1,628 injuries off-duty, forcing the Air Force to spend $168 million to treat the injuries. Long distance travel - Ensure your vehicle is serviced prior to departing. - Don't overload your vehicle and be sure you can see clearly out of the windows. Motorcycle Riding - Always wear required protective equipment. - Be vigilant in high-traffic areas, and keep your distance.

Safely celebrating the Fourth of July in Southern California or wherever you are! Happy 4th of July!

Safely celebrating the Fourth of July

<h3>&nbsp; Economic Updates:</h3>
<ul>
<li>
Federal Reserve continues to come up with ways to stabilize the markets and interest rates. Federal Reserve Chairman also asked Congress to do more to help Main Street and not as much Wall Street
</li>
<li>
The stock market may have a small gain for the week. Still a lot of concern about Covid 19 and unemployment numbers.
</li>
<li>
Initial Jobless claims report was expecting to drop from 1.5 million to 1.2 million. Yesterday the report came back &ndash; another 1.5 million people still filed initial jobless claims.&nbsp; Did not drop as expected.
</li>
<li>
China and US tension continue next week over trade issues, stolen trade secrets, Hong Kong, and issues about the coronavirus.
</li>
</ul>
<ul>
<li>
Congress continues fighting over another stimulus package (helping States and Local Counites) waiting to see if they can get this passed. They are also talking about sending checks to consumers again. We will see how this comes out&hellip;
</li>
<li>
Mortgage Applications this week continue to show a recovery. Purchase applications were up for a 9th week in a row - another 7% this week and refinances were up another 11%. Busy times&hellip;
</li>
</ul>
<ul>
<li>
Market Movers Next Week: Several Economic Reports will shape the stock market and affect rates next week: Housing Data &ndash; existing and new home sales / PCE Report &ndash; Federal Reserve Report which tracks inflation / Mortgage Application Report / Initial jobless claims / and the important GDP report.
</li>
</ul>
&nbsp;
<h3>Current Interest Rates:</h3>
<h5>06/19/20 &ndash; Interest rates will be volatile this week!!&nbsp;(Based on a 740 FICO / Purchase / 20% down / Single Family / 0 Points) *</h5>
<table border="1">
<tbody>
<tr>
<td>
30 Year Fixed Conforming
</td>
<td>
3.250%&nbsp;&nbsp;&nbsp; (3.360% APR)&nbsp;
</td>
</tr>
<tr>
<td>
15 Year Fixed Conforming
</td>
<td>
2.750%&nbsp; &nbsp;&nbsp;(2.854% APR)&nbsp;
</td>
</tr>
<tr>
<td>
30 Year VA/FHA Loan Conforming
</td>
<td>
2.750%&nbsp;&nbsp;&nbsp; (2.919% APR)
</td>
</tr>
<tr>
<td>
30 Year High Balance Conforming
</td>
<td>
3.625%&nbsp;&nbsp;&nbsp; (3.721% APR)&nbsp;&nbsp;&nbsp;&nbsp;
</td>
</tr>
</tbody>
</table>
&nbsp;
If you have any questions or need anything, give us a call! &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;

Your Economic Update and Mortgage Minute 6/23/2020

There&rsquo;s no sugarcoating it. The last couple of months have been&nbsp;hard.
But we&rsquo;re starting to see the light at the end of the tunnel. Slowly but surely, life (and business) is returning to some level of normal.
There is, however, one big piece of the market that&rsquo;s still playing catch up. The sellers that were ready to list back in March are holding off, putting extra pressure on an already stressed inventory situation.
The good news is: the summer market is heating up, buyer traffic is increasing, and mortgage rates are at historic lows.&nbsp;
Here are some of the key points in the housing and overall economy:
Buyers save big with low rates:&nbsp;Low rates create tremendous savings for potential homebuyers. After peaking at nearly 5% at the beginning of 2019, rates have fallen consistently and now sit at all-time low levels. The payment on the median priced home is roughly $300 per month cheaper than it was at this time last year. The decision to buy is always person-specific, but if their job is secure and they can afford the home they want to purchase, then this is an incredible opportunity to save money over the long term.
Homes selling quickly:&nbsp;Although the economy has been severely impacted, the housing market has seen significant reductions in the amount of inventory being added to the MLS. As such, the homes that are available for sale (particularly as demand has increased over the past month) have been selling quickly&mdash;a median of 17 days in May&mdash;and sellers got close to asking price in May (99.7%) and more if the home is priced right and in good condition.&nbsp;
Expected market time (as of 6/18/2020) by county:
<ul>
<ul>
<li>LA County - 55 Days (Seller&rsquo;s Market)</li>
<li>Orange County - 52 Days (Seller&rsquo;s Market)</li>
<li>Riverside County - 39 Days (Hot Seller&rsquo;s Market)</li>
<li>San Bernardino County - 37 Days (Hot Seller&rsquo;s Market)</li>
<li>San Diego County - 39 Days (Hot Seller&rsquo;s Market)</li>
</ul>
</ul>
&nbsp;
Retail sales show consumers coming back sharply:&nbsp;The major macroeconomic indicator released this week was retail sales, which (after stripping away food and autos) rebounded to within 1.5% of its 2019 levels. Auto sales have been slower to come back, so overall retail sales were still down roughly 6% from May 2019, but this marks significant progress from the largest-ever drops recorded in March and April. Especially given that the U.S. economy remains roughly 70% consumer driven, this is a positive sign for overall economic growth recovering.
Unemployment remains high and will take time to heal:&nbsp;The number of new unemployment insurance claims continues to fall, reaching just 1.5 million last week. However, continuing claims remain stubbornly high and will take time to recover fully. In addition, the multiplier effects of these lost jobs and incomes will continue to weigh on the overall economic recovery. Thus, even as things gradually continue to improve, it will take a while for us to reach a full recovery.
California&rsquo;s supply problem rears its ugly head again:&nbsp;Unlike pending sales, mortgage applications, or requests by homebuyers for private showings, the number of new listings being added to the MLS each week has yet to reach pre-crisis levels, let alone 2019 levels. We observed a much bigger pullback on the seller side of the market during the initial shelter in place, and we have seen a much slower rebound than we have enjoyed on the buyer demand side. As such, the number of homes available for sale fell by the largest percentage in many years, which will also limit the pace of the recovery. Today we are at the lowest inventory levels since June of 2013!
More positive indicators were released this week and suggest the worst of the immediate crisis is behind us and that things should gradually continue to improve. Americans are feeling confident that the real estate industry is strong and relatively unaffected by the economic downturn caused by the pandemic. Coupled with strong buyer demand, those choosing to sell right now are in a great position to sell quickly and for a good price.
If you have specific questions about your market or home, give us a call today. We&rsquo;d love to help you any way we can!
&nbsp;

There’s no sugarcoating it. The last couple of months have been hard.But we’re starting to see the light at the end of the tunnel. 

Housing and Economy Update for Mid June 2020

<h1>Summer is the New Spring Housing Market!</h1>
<h4>Demand Spikes: Demand surged in the past couple of weeks with a 38% rise.</h4>
COVID-19 has impacted the economy across the board. The economic data prior to the Coronavirus was pumping on all cylinders. Consumer confidence, consumption, unemployment, housing, stocks, leading economic indicators, everything was pointing to a phenomenal 2020. After the virus broke, every chart was impacted severely. Housing was no exception.
Experts have been debating what the economic recovery will look like. Initially, some experts were calling for a quick rebound, a &ldquo;V-Shaped&rdquo; bounce. That is when the economy rises nearly as fast as it falls. Yet, with more time to reflect on all the data, most experts now agree that it will be a &ldquo;U-Shaped&rdquo; recovery, one that after hitting a bottom will slowly but surely turn upward. The best analogy is a dimmer switch. As the dial is slowly turned, the economy will continue to accelerate until one day it is pumping on all cylinders again.
Housing is proving that it is an exception and is currently experiencing a &ldquo;V-Shaped&rdquo; recovery with demand soaring 38% in the past two weeks. How can that be? The sleeping giant has awakened. Even though life as everybody knows it has been turned upside down and California has only moved to &ldquo;Phase 2,&rdquo; record low interest rates are instigating demand. Dawning masks and gloves, buyers are viewing homes again and making offers.
Prior to the &ldquo;stay at home&rdquo; order in mid-March, housing was a sizzling hot Seller&rsquo;s Market with extraordinarily little inventory and unbelievable demand. It was the hottest start to a Spring Market since 2013, a spring to remember for Socal housing. Low mortgage rates, averaging 3.75%, was stoking the fires of demand. When the virus hit, demand plunged, and the market slowed.
Now that it has been a couple of months, flattening the Coronavirus curve has been successful so far. Slowly but surely more of the economy is coming back online. As a result, eager buyers who had been sitting on the fence waiting to purchase are jumping back in and ready to take advantage of record low mortgage rates at 3.25%.
In the past couple of weeks, demand (the last 30-days of pending sales) jumped 30%. It was last at this level in mid-February. Typically, during this time of the year demand has already peaked&nbsp;and it does not change much at all. Not this year. Demand is in recovery mode and the sharp increase indicates that it is &ldquo;V-Shaped.
While some thought the housing market would take a major hit because of the Coronavirus, that could not be further from the truth. The low mortgage rate environment is a catalyst that has reignited demand. Despite furloughs and unimaginable unemployment, local real estate is revving its massive engine once again. Many are wondering where the demand is coming from. A lot of people are still gainfully employed, willing, and able to purchase.&nbsp; With rates at a record low, home affordability has dramatically improved from earlier in the year. The market was hot back then and it is no wonder that it is heating up again.
The active inventory dropped during this time of the year. The inventory remains at lows last seen in 2013. Surging demand and a dropping supply resulted in the Expected Market Time (the time between hammering in the FOR-SALE sign and opening escrow) tumbling &nbsp;to a hot Seller&rsquo;s Market (less than 60 days). That is a market where sellers get to call more of the shots and values are rising. Last year at this time, the Expected Market Time was way slower than today.
Recent weeks have proven that the housing market is extremely resilient and a bright spot in the economy. Buyers can expect housing to improve from here as demand continues to rebound. This is not the Great Recession when real estate was a house of cards ready to collapse. Back then it was a bubble fueled by mass speculation, subprime lending, pick-a-payment plans, a wave of cash out refinancing, zero down payments, and fraudulent lending practices. Mortgage rates were at 6.35%.
That was then, this is now. The current housing stock was built on tight lending requirements. Buyers have had to prove that they could afford the monthly mortgage payment. There were very few cash out refinances, large down payments are the norm, and there is plenty of nested equity.
This time around housing is built on a strong foundation. It may prove to be a catalyst to an eventual economic recovery.

Prior to the “stay at home” order in mid-March, housing was a sizzling hot Seller’s Market. How is the recovery going to look?

Summer is the New Spring Housing Market!

<h4>Economic Updates:</h4>
&nbsp;
<table style="width: 100%; border-collapse: collapse; border-style: none; border-color: #ffffff;" border="1">
<tbody>
<tr>
<td style="width: 2.532274081429989%;">
<ul>
<li>&nbsp;</li>
</ul>
</td>
<td style="width: 97.46772591857001%;">
The Federal Reserve meets this coming week. We expect no increases or decreases in interest rates. We are looking forward to the Federal Reserve comments on GDP and other economic reports in 2020.
</td>
</tr>
<tr>
<td style="width: 2.532274081429989%;">
<ul>
<li>&nbsp;</li>
</ul>
</td>
<td style="width: 97.46772591857001%;">
This week the stock market (Dow Jones) back up to over 27,000.00 again. Stock market is expecting a short recovery and back to economic growth. Things being considered &ndash; many businesses opened up again and lower than expected unemployment report. This is great news for the stock market and the real estate industry.
</td>
</tr>
<tr>
<td style="width: 2.532274081429989%;">
<ul>
<li>&nbsp;</li>
</ul>
</td>
<td style="width: 97.46772591857001%;">
Almost every economist was expecting a 19.5% unemployment. A huge surprise yesterday as the report came in at 13.3%. This is very encouraging that our economy is recovering much faster than expected.&nbsp;
</td>
</tr>
<tr>
<td style="width: 2.532274081429989%;">
<ul>
<li>&nbsp;</li>
</ul>
</td>
<td style="width: 97.46772591857001%;">
China and US tension continue over trade issues, stolen trade secrets, Hong Kong, and issues about the Coronavirus.
</td>
</tr>
<tr>
<td style="width: 2.532274081429989%;">
<ul>
<li>&nbsp;</li>
</ul>
</td>
<td style="width: 97.46772591857001%;">
Congress continues fighting over another stimulus package (helping States and Local counties). Waiting to see if they can get this passed.
</td>
</tr>
<tr>
<td style="width: 2.532274081429989%;">
<ul>
<li>&nbsp;</li>
</ul>
</td>
<td style="width: 97.46772591857001%;">
The government has decided that once the borrower has finished forbearance on a loan and brought the loan current &ndash; they will only have to wait 3 months instead of 12 months to refinance or buy another property.&nbsp; Much better policy than before!
</td>
</tr>
<tr>
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VA loan &ndash; the Blue Water Veterans Act of 2019 allows borrower with JUMBO loans 100% financing. Before they would have to put down 25% of the difference of the loan amount and the conforming loan limit of that county.&nbsp; This is great news for veterans who would like to purchase a high loan balance loan.&nbsp; Please call for more details.
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For the 7th week in a row loan application are much stronger than expected. Purchase applications are now up 18% year-to-date and refinances are still up 130% year-to-date.
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FHA and VA have changed the minimum FICO scores to 620 (dropped from last week - which was 640). Many lenders have also decreased debt-to-income (DTI) standards on other loan products with borrower lower FICO scores.&nbsp;
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Don&rsquo;t forget about First Responder Programs available! Many lenders offer programs for first responders to thank the nurses, doctors, fireman and police officers for keeping us safe through these tough times!
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&nbsp;
<h3>Current Interest Rates:</h3>
<h5>06/05/20 &ndash; Interest rates will be volatile this week!!&nbsp;(Based on a 740 FICO / Purchase / 20% down / Single Family / 0 Points) *</h5>
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<td style="width: 34.14517669531996%;">30 Year Fixed Conforming</td>
<td style="width: 65.85482330468004%;">3.490% (3.523% APR)</td>
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<td style="width: 34.14517669531996%;">15 Year Fixed Conforming</td>
<td style="width: 65.85482330468004%;">2.990% (3.062% APR)&nbsp;</td>
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<td style="width: 34.14517669531996%;">30 Year VA/FHA Loan Conforming</td>
<td style="width: 65.85482330468004%;">
2.875% (3.075% APR)
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<td style="width: 34.14517669531996%;">30 Year High Balance Conforming</td>
<td style="width: 65.85482330468004%;">3.875% (3.925% APR)&nbsp;</td>
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&nbsp;
(*) Interest rates and terms subject to change daily &ndash; we can lock once we have offer accepted for a purchase transaction. We can lock a refinance right away (30, 45, 60, 90 or even 120 days)

Here is your Mortgage Minute covering Economic Updates / Current Mortgage Interest rates

June 6, 2020 - Economic Updates and Mortgage Minute 

<h1>Rising Demand: Demand rose 41% in the last two weeks even though &ldquo;stay at home&rdquo; orders have not yet been lifted.</h1>
After nine weeks of staying at home, everybody is figuring out ways to make life feel a bit more normal again. DoorDash is on the go delivering food from local favorite restaurants. Church service is now streaming live with the ability to hit pause if the two-year old is acting up. With Zoom meetings all week long, working from home in t-shirts and shorts is not a bad way to get a lot accomplished. The kids are busy cyber learning in their online classrooms. Everybody is adapting to a new way of life. Buyers are adapting as well and are looking for homes again, the market is waking up. 
After reaching a very low demand level at the end of April, the past couple of weeks a change was afoot. Reports from the real estate trenches of increased showings and buyers writing offers again were repeated all over Southern California. Buyers are figuring out that they can still purchase a home in the middle of California&rsquo;s &ldquo;stay at home&rdquo; order. 
The real estate industry has adapted to selling homes in this new COVID-19 environment. Buyers view properties wearing protective face masks and disposable, rubber gloves while respecting proper social distancing protocol. Everything else is done electronically, from a list of properties to a comparable market analysis to real estate contracts that grant buyers permission to view and purchase properties. As a result, it is not surprising that demand (the number of pending sales over the prior 30-days) increased by 41% in the past two weeks.&nbsp;
It appears as if the shock of COVID-19 and its impact on demand bottomed two weeks ago and is now on the rise. Expect demand to continue to rise going forward, especially with the added incentive of record low mortgage rates. In fact, they reached all-time lows, dropping to an average of 3.25% across the country. With lower rates, homes become much more affordable. 
<div>For example, in looking at a $500,000 mortgage, the monthly payment at 3.25% is $2,176 per month. That is a $508 per month savings, or $6,096 per year, compared to where rates were in November 2018, just a year-and-a-half ago. The savings are staggering, which helps explain why demand is starting to rise. It is hard to ignore the impact on affordability as rates hit these unprecedented levels.</div>
<div>&nbsp;</div>
<div>For buyers in Southern California, the current environment may prove to be the best time to jump on purchasing a home given that rates are at all-time lows and the overall market is not yet hot where homes are on the market in days and not weeks. That may change as California&rsquo;s economy is slowly opened back up. Even so, it will not be business as usual. The new adaptation to selling homes in this COVID-19 environment will continue. </div>
<div>&nbsp;</div>
<div>Even with the large increase in demand over the past couple of weeks, demand is still muted. Its current level was last seen in January, a reflection of the cyclical holiday lull. Demand is also off by 25% compared to last year. So, COVID-19 is absolutely suppressing demand. Within the last couple of weeks, the inventory dropped - COVID-19 is also suppressing the active listing inventory. 45% fewer homes were placed on the market within the last four weeks compared to the 5-year average.</div>
<div>&nbsp;</div>
<div>
<div>With demand increasing at an extremely fast pace, and the supply of homes falling, the Expected Market Time (the amount of time from hammering in the FOR SALE sign to opening escrow down the road) dropped. It is the first drop in the Expected Market Time since the start of the &ldquo;stay at home&rdquo; order back in March. From here, expect demand to continue to outpace any increase in the supply. As a result, the Expected Market Time will continue to drop in the coming weeks.</div>
<div>&nbsp;</div>
The market may not be firing on all cylinders like it was in February and the start of March when homes were flying off the market and obtaining multiple offers, but it is starting to turn a corner with both demand on the rise and the Expected Market Time falling for the first time in a couple of months.</div>

Reports from the real estate trenches of increased showings and buyers writing offers again were repeated all over Southern California. Buyers are figuring out that they can still purchase a home in the middle of California’s “stay at home” order.

Rising Demand

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Thinking About Buying a Home? | Pamela Briggs

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<h1>Thinking About Buying a Home?</h1>
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As a home buyer, there&rsquo;s plenty you need to know. You&rsquo;re about to make the largest financial investment of your life, but with&nbsp;my Home Buyers Guide, you&rsquo;ll have the information you need about buying a home, ight at your fingertips. For anyone who wants to learn more (or refresh your memory) on the home buying process, download my FREE Home Buyer Guide!&nbsp;You can use this guide to take notes and keep all of the information in one place to turn back to when you're going through the buying process.
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Thinking About Buying a Home?

Published 05/16/2020 | Posted by Pamela Briggs

Thinking About Buying a Home?

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