5 Reasons to Sell Now

5 Reasons to Sell Now

by The KCM Crew on September 24, 2012 · 4 comments

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Many sellers feel that the Spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the Fall and Winter have their own advantages. Here are five reasons to to sell now.

Only Serious Buyers Are Out

At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers’. The lookers are at the mall or online doing their holiday shopping.

There Is Far Less Competition

Housing supply always shrinks dramatically at this time of year. This year will be a little different as some of the distressed properties being liquidated by the banks (in the form of foreclosures & short sales) will enter the market. However, for those buyers looking for a non-distressed property, the choices will be limited. Don’t wait until the spring when all the other potential sellers in your market will put their homes up for sale.

The Process Will Be Quicker

One of the biggest challenges of the 2012 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers.

There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 15% from now to 2016. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come.

It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and decide whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
You already know the answers to the questions we just asked. You have the power to take back control of the situation by pricing your home to guarantee it sells. The time has come for you and your family to move on and start living the life you desire. That is what is truly important.

It is Still Possible to Buy a Home with No Money Down

It is Still Possible to Buy a Home with No Money Down

To say that buying a home has gotten tougher in the past few years would be a vast understatement. Lenders are casting a more critical eye on appraisals, credit reports and income calculations. To make matters worse, most lenders require at least 5% of the home’s purchase price as a down payment. However, there are still a couple of programs that offer financing with no money down.

VA Mortgage
The Veterans Administration (VA) authorizes lenders to offer VA Mortgages to qualifying veterans and active duty personnel. The loan was first offered in 1944 as a benefit to soldiers returning home from World War II. This loan is offered to a wide range of people who have served during peace time and war time as well as to people that have served in the various reserves.
The main attraction of the loan is the absence of any down payment requirement. Other benefits include attractive interest rates, fixed rate loans, and no mortgage insurance.

USDA Home Loan
This is another program authorized by a government agency. The United States Department of Agriculture offers the USDA Home Loan to qualified applicants. Typically, borrowers must have a credit score of at least 620 in order to get approved for the loan. There are rules that limit a person’s total household income. Finally, the property being purchased must be in an area that is labeled rural by the USDA.
The beauty of this loan is the ability to borrow up to 100% of the home’s market value to cover not only the loan but also closing costs associated with the mortgage.

Getting approved for one of these loans is usually easier than getting approved for a conventional loan. The rates will be very comparable and you won’t have to come up with a large down payment in order to get approved for the financing.

For additional information see our VA mortgage or USDA Rural Housing page on our site or to see if you qualify, contact me below or apply online.

Thinking of a Vacation or Retirement Home? Buy It Now

Thinking of a Vacation or Retirement Home? Buy It Now

The KCM Blog - Thinking of a Vacation or Retirement Home? Buy It Now

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Thinking of a Vacation or Retirement Home? Buy It Now

Posted: 19 Sep 2012 04:00 AM PDT

When the economy was exploding in the early 2000s, many of us began to dream about purchasing that vacation home on the lake or securing a home in a more appropriate location for our retirement years. However, with the booming economy came skyrocketing house prices. Many of the homes we fell in love with quickly became out of reach financially. Perhaps we should take a second look at these same homes today.
With prices dropping by over 30% in some markets and with interest rates at historic lows, this may be the perfect time to do what we and our families have always dreamt of doing – buying that second home. Let’s look at the numbers.
Back in 2006 we may have seen the ‘perfect’ home but the $500,000 price tag was just out of reach. Today, we could probably get that home for $400,000 (if not less). We also would be financing it at the current mortgage rate instead of the rates available six years ago. The table below shows the difference in impact on our family’s finances:

 

Not every family is in the financial position to take advantage of the tremendous opportunities the current real estate market offers. But, if yours is, this may be the time for dreams to come true.