August 2020

Found 20 blog entries for August 2020.

 

Why Foreclosures Won’t Crush the Housing Market Next Year | MyKCM

With the strength of the current housing market growing every day and more Americans returning to work, a faster-than-expected recovery in the housing sector is already well underway. Regardless, many are still asking the question: will we see a wave of foreclosures as a result of the current crisis? Thankfully, research shows the number of foreclosures is expected to be much lower than what this country experienced during the last recession. Here’s why.

According to Black Knight Inc., the number of those in active forbearance has been leveling-off over the past month (see graph below):Why Foreclosures Won’t Crush the Housing Market Next Year | MyKCM

Black Knight Inc. also notes, of the original 4,208,000 families granted forbearance, only 2,588,000 of these homeowners got an extension. Many

26 Views, 0 Comments

 

Current Buyer & Seller Perks in the Housing Market | MyKCM

Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding opportunities for buyers and sellers. Whether you’re thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two.

The Biggest Perk for Buyers: Low Mortgage Rates

The most impressive buyer incentive today is the average mortgage interest rate. Just last week, mortgage rates hit an all-time low for the eighth time this year. The 30-year fixed-rate is now averaging 2.88%, the lowest rate in the survey’s history, which dates back to 1971 (See graph below):Current Buyer & Seller Perks in the Housing Market | MyKCM

This is a huge advantage for buyers. To put it in perspective, it means that today you

52 Views, 0 Comments

 

The Latest Unemployment Report: Slow and Steady Improvement | MyKCM

Last Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%.

When the official report came out, it revealed that 1.8 million jobs were added, and the unemployment rate fell to 10.2% (from 11.1% last month). Once again, this is excellent news as this was the third consecutive month the unemployment rate decreased.The Latest Unemployment Report: Slow and Steady Improvement | MyKCM

There is, however, still a long way to go before the job market fully recovers. The Wall Street Journal (WSJ) put a potential date on that recovery:

“July’s payroll growth, at 1.8 million, still leaves total payrolls 12.9 million lower than in

29 Views, 0 Comments

309 Eastern Ave S, Brookings, SD

Get Directions Click Here OPEN HOUSE Thu, 5:00PM to 6:30PM
  • Property Video
  • Walking Virtual Tour
  • Description
  • Photos
  • Maps & Local
  • Schools
  • More

$ Click for current price
3 BEDROOMS | 1 full, 1 ¾ baths BATHROOMS | 1802 SqFt

GO EAST YOUNGMAN....to Eastern Ave. You don't have to travel far to see this rare beauty. This well taken cared for home built in 1962 sits in a cul-de-sac close to parks & shopping. In the afternoon, enjoy the warm rays of the sun coming through the large picture window in the Living Room. And on those colder nights, crank up the fireplace and kick back for the evening with a tasty beverage. This home has steel siding and a few newer, ''big

30 Views, 0 Comments

 

2020 Homebuyer Preferences [INFOGRAPHIC] | MyKCM

Some Highlights

  • A recent study from HarrisX shows the current health crisis isn’t slowing down today’s homebuyers.
  • Many buyers are accelerating their timelines to take advantage of low mortgage rates, and staying home has enabled some to save more money to put toward a down payment.
  • Let’s connect today if your needs have recently changed and you’re ready to make a move this year.

Thinking of selling and/or moving to Brookings, Volga, or any surrounding areas? Got questions? I’m here to help! Visit BrookingsHomeTeam.com for more details!

23 Views, 0 Comments

 

Why Homeowners Have Great Selling Power Today | MyKCM

We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. Here’s a breakdown of why it’s a great time to capitalize on equity gain in today’s market.

As average homeowner tenure lengthens and home prices rise, equity, a form of forced savings, can be applied forward to the purchase of a new home. CoreLogic explains:

“Over the past 10 years, the equity position of homeowners has positively changed as a result of more than eight years of rising home prices. As the

21 Views, 0 Comments

 

Today’s Buyers Are Serious about Purchasing a Home | MyKCM

Today’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB) indicates:

“…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago (41%), which suggests that the COVID-19 crisis and its accompanying record-low mortgage rates have converted some prospective buyers into active buyers.”

Today’s Buyers Are Serious about Purchasing a Home | MyKCM

It’s no surprise that buyers are out in full force today. Many Americans now need more space to work

25 Views, 0 Comments

 

Where Is the Housing Market Headed in 2020? [INFOGRAPHIC] | MyKCM

Some Highlights:

  • The housing market is forecasted to finish the year with growing strength.
  • Historically low mortgage rates are creating great potential for homebuyers, and home sales are on the rise.
  • If you’re thinking of buying or selling a home this year, let’s connect to maximize your opportunity today.
23 Views, 0 Comments

655 Park Ave, Brookings, SD

Get Directions Click Here
  • Property Video
  • Virtual Walking Tour
  • Description
  • Photos
  • Maps & Local
  • Schools
  • More

$ Click for current price
5 BEDROOMS | 2 full, 1 ¾ baths BATHROOMS | 2889 SqFt

DO YOU LIKE MONOPOLY? Who wouldn't want to live on Park Ave? Just like the game, this Ranch home is prime. Let's start with with the location, it's ok to pass GO....right next to shopping and the grocery store. FREE parking in the 3 stall garage, then go Directly to the open Kitchen & Dining Room with hardwood floors, granite counter tops & glass tile backsplash. Main Floor Laundry and 3 Bedrooms on the main level, with 2 Bedrooms in the Lower Level. Formal Dining and Living Room with a

25 Views, 0 Comments

 

Home Sales Hit a Record-Setting Rebound | MyKCM

With a worldwide health crisis that drove a pause in the economy this year, the housing market was greatly impacted. Many have been eagerly awaiting some bright signs of a recovery. Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound to ignite that spark.

According to NAR, home sales jumped 20.7% from May to a seasonally-adjusted annual rate of 4.72 million in June: 

“Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic…Each of the four major regions achieved month-over-month growth.”

Home Sales Hit a Record-Setting Rebound | MyKCM

This significant rebound

17 Views, 0 Comments