Where Will I Go If I Sell My House?
Sunday, October 24, 2021
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Mt. Hood Real Estate Blog
Liz Warren
Blog
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Displaying blog entries 431-440 of 1957
Mt. Hood Charmer on Wooded Lot in Rhododendron
Saturday, October 23, 2021
This Zig Zag Riverfront cabin in the Mt. Hood National Forest is one of a kind. Like new and architecturally designed and filled with craftsman touches, this amazing cabin is one of the best built I've ever seen on leased land! Two bedrooms and a loft upstairs, one and a half baths, and a huge great room complete with floor to ceiling windows and custom tile flooring. Wood walls from top to bottom! Tall windows look right over the Zig Zag River. The living room features a wood stove and pellet stove along with an outside deck right off the living room area. There's even a garage! Campfire ring for stories and some-mores! Only minutes to the slopes and hiking trails near by. Leased land in the Mt. Hood National Forest. $575,000
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Growing Home Equity in the Mt. Hood Real Estate Market!
Friday, October 22, 2021
Your Home Equity Is Growing on Mt. Hood!
![Your Home Equity Is Growing [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/10/18091034/20211022-MEM-1046x2053.png)
The home equity on Mt. Hood has skyrocketed to new heights! With minimal inventory and the highest demand we have ever seen in the Mt. Hood area, its the prime time to sell your property.
Some Highlights
- If you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year.
- Whether it’s funding an education, fueling your next move, or starting a business, your home equity is a great tool you can use to power your dreams.
- Ready to sell? Let’s connect to talk about how you can take advantage of your rising equity to reach your goals.
Hackett Creek Two Bedroom Cabin
Thursday, October 14, 2021
This is a great private location right on Hackett Creek in Rhododendron in Timberline Rim a riverside community. This unique cabin features vaulted ceilings, a toe warming propane stove, two French doors and lots of windows. There is one bedroom on the main level and a spacious loft upstairs with a private bedroom and bunkbeds in the loft. Enjoy the hot tub just off the back deck. The wooded setting makes for a private location. Low HOA. Amenities include pool, tennis courts, lodge and basketball court. $425000
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What Do Past Years Tell Us About Today’s Real Estate Market?
Thursday, October 14, 2021
What Do Past Years Tell Us About Today’s Real Estate Market?
As you follow the news, you’re likely seeing headlines discussing what’s going on in today’s housing market. Chances are high that some of the more recent storylines you’ve come across mention terms like cooling or slowing when talking about where the market is headed.
But what do these terms mean? The housing market today is anything but normal, and it’s still an incredibly strong sellers’ market, especially when compared to the few years leading up to the pandemic. With that in mind, what can previous years tell us about today’s real estate market and if it’s truly slowing?
We’re Still Seeing an Above Average Number of Sales
You may see headlines about a drop in home sales. But are those headlines telling the full story? The most recent Existing Home Sales Report from the National Association of Realtors (NAR) does show a drop of about 2% from July to August. But the month-over-month decline doesn’t provide the full picture (see graph below):
As the graph shows, historical context is key. Today’s home sales are well ahead of some of the more normal years that led up to the health crisis. That means buyers are still in the market, which is great news if you’re planning to list your home.
Houses Are Selling Faster Than Usual
When headlines mention the market is slowing, sellers may naturally wonder if their house will sell as quickly as they’d like. According to the most recent Realtors Confidence Index from NAR, homes are still selling at record speed (see graph below):
Again, if we look back at data from previous years, we can see the average time on market – 17 days – means homes are selling faster than a normal pace.
Bidding Wars Are Still the Norm
The Realtors Confidence Index from NAR also shows a drop in the average number of offers homes are receiving in August, and many headlines may simply focus there without providing the important context (see graph below):
Again, it’s important to compare today’s market to trends from recent years. Currently, the average number of offers per listing is higher than 39 of the previous 45 months. That means the likelihood of a bidding war on your home is still high. And the number of offers your house receives can have a major influence on the final sale price.
So, Is the Market Slowing Down?
While there are slight declines in various month-to-month data, it’s important to keep historical context in mind when determining what’s happening in today’s market. Odeta Kushi, Deputy Chief Economist at First American, put it best recently, saying:
“It's not the white-hot market from earlier in the year & it's not the 2020 market benefiting from a wave of pent-up demand but make no mistake this is still a hot housing market.”
Bottom Line
Don’t let headlines make you rethink listing your home this fall. Selling today means you can still take advantage of high buyer demand, multiple offers, and a quick sale. If you’re thinking of selling your house, let’s connect and discuss why this fall is the perfect time to do so.
Will Mortgage Rates Go Up?
Tuesday, October 12, 2021
Don’t Wait for a Lower Mortgage Rate – It Could Cost You
Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of.
Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well below what your parents and even grandparents got in years past. The key will be acting sooner rather than later.
In late September, mortgage rates ticked above 3% for the first time in months. And according to experts throughout the industry, mortgage rates are projected to continue rising in the months ahead. Here’s where experts say rates are headed:
While a projected half percentage point increase may not seem substantial, it does have an impact when you’re buying a home. When rates rise even slightly, it affects how much you’ll pay month-to-month on your home loan. The chart below shows how it works:
In this example, if rates rise to 3.55%, you’ll pay an extra $100 each month on your monthly mortgage payment if you purchase a home around this time next year. That extra money can really add up over the life of a 15 or 30-year loan.
Clearly, today’s mortgage rates are worth taking advantage of before they climb further. The rates we’re seeing right now give you a unique opportunity to afford more home for your money while keeping your monthly payment down.
Bottom Line
Waiting for a lower mortgage rate could cost you. Experts project rates will continue to rise in the months ahead. Let’s connect so you can seize this opportunity before they increase further.
What's Causing Today's Competitive Real Estate Market on Mt. Hood
Friday, October 8, 2021
What’s Causing Today’s Competitive Real Estate Market On Mt. Hood?
![What’s Causing Today’s Competitive Real Estate Market? [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/10/07124832/20211008-MEM-1046x2072.png)
Some Highlights
- Today’s strong sellers’ market is the direct result of high demand and low supply.
- Low mortgage rates and generational trends have created an increased demand for homes. Meanwhile, the slower pace of new home construction and homeowners staying in their homes longer have both led to today’s low supply.
- If you’re thinking of selling, let’s connect to talk about our local area and how you can take advantage of today’s housing market.
It's Still a Sellers' Market on Mt. Hood
Tuesday, September 28, 2021
It’s Still a Sellers’ Market On Mt. Hood
![It’s Still a Sellers’ Market [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/09/22165444/20210924-MEM-1046x2173.png)
Some Highlights
- Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen.
- Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. That might be why 73% of people believe it’s a good time to sell.
- Sellers, don’t miss out on this unique opportunity. Let’s connect so you can take advantage of this hot sellers’ market.
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Displaying blog entries 431-440 of 1957
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