Tuesday, December 3rd, 2013

by The KCM Crew

Home-Price-Expectation-275Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey

The latest survey was released last week. Here are the results:

Click Here For The Full Article

Monday, December 2nd, 2013

We are pleased to have Carrie Van Brunt-Wiley, editor of the HomeInsurance.com Blog, return as our guest blogger today. The HomeInsurance.com blog serves as a resource center for insurance consumers and homebuyers across the country. – The KCM Crew

One of the first stages during the hunt for a new home is crunching the numbers to figure out your budget. And no matter how high or low that budget may be, prospective homebuyers should take into consideration the cost of insuring the home.

It’s easy to overlook insurance, especially since you may be more worried about the number of bedrooms, the school district, or the size of the backyard. But before you can close on the purchase, your lender will require you to line up homeowners insurance. You may be hit with some sticker shock if the home you are about to buy ends up being a high risk- and therefore high cost- home to insure.

Once you’ve got a few homes in your sight, you should get some preliminary home insurance quotes on each property. Just as you will compare asking price and property taxes- figure your insurance costs into the equation as well. Even homes of similar size and style can vary greatly in terms of cost to insure.

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Sunday, December 1st, 2013

by The KCM Crew

The big question for homebuyers is when interest rates will begin to rise to the 5% blue interest ratesmark. The effect of a rise in mortgage rates could be a dramatic increase in the monthly mortgage payment when purchasing a home. In an article last week, HousingWire quoted two different sources regarding this issue.

Most experts are projecting that rates will rise when the Fed decides to taper the purchase of bonds which has acted as a stimulus to the housing market by keeping long term mortgage rates at historic lows.

In the article, Sterne Agee’s managing director and chief economist Lindsey Piegza pointed out:

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Wednesday, November 27th, 2013

Tuesday, November 26th, 2013

WMAR-enotes

This week, and through the end of the year, you might be watching for much-needed inventory gains that will not arrive due to traditional end-of-year lulls in the marketplace related to holidays and/or colder weather. Nobody wants to sell at the bottom. In general, inventory pools are up in year-over-year comparisons in many areas, suggestive of seller confidence with recent price gains. Overall recovery is unlikely to stall. The pace of price gains and bidding wars may ease, but that’s not necessarily a bad thing. Just ask any prospective home buyer.

In the Twin Cities region, for the week ending November 16:

• New Listings decreased 4.2% to 1,003 • Pending Sales decreased 7.3% to 758 • Inventory decreased 3.2% to 15,318

For the month of October:

• Median Sales Price increased 11.4% to $194,900 • Days on Market decreased 27.2% to 75 • Percent of Original List Price Received increased 1.4% to 95.8% • Months Supply of Inventory decreased 12.5% to 3.5

Click Here to View Full Weekly Activity Report

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