Buyers

March 7, 2021

Median Sales Price Up 18%, Inventory Down 61%: Luxury Sales Over $3M up 140%.

For Buyers: Yes, it’s still a good time to buy. Is it fun? No.

 

Inventory is down 61% from this time last year and competition among buyers is steep. New listings are not keeping up with demand and the purchase experience can be stressful, disappointing, and heartbreaking; but it’s ...

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Jan. 27, 2021

What Happens When Homeowners Leave Their Forbearance Plans?

According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now:

  • 2,543,000 ...
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Jan. 11, 2021

2020 Broke the Record for Luxury Sales Supply Down 51%, Slim Pickings in 2021

For Buyers:

There were 111,036 new listings added to the Arizona Regional MLS (ARMLS) in 2020, only 38 more than in 2019, while 100,650 sold. As of January 10th, 2021 there were only 6,162 listings still active in the MLS, which is the lowest supply count recorded ...

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Dec. 29, 2020

More Generations Are Living Under One Roof This Year

 

This year challenged us to reprioritize everything – from the way we use our time to where we work, how we socialize and gather together, and our needs at home. For many, this also meant making decisions about how to best support and engage with our extended families, near ...

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Posted in Buyers, Buying a Home
Dec. 22, 2020

The Difference a Year Makes for Homeownership

Over the past year, mortgage rates have fallen more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them.

1. Move-up or Downsize:  ...

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Posted in Buyers, Buying a Home
Dec. 21, 2020

The Do's and Don'ts after Applying for a Mortgage

 

Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. You’re undoubtedly excited about the opportunity to decorate your new place, but before you make any large purchases, move your money around, or make any major ...

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Posted in Buyers, Buying a Home, Loans
Dec. 11, 2020

Winning As A Buyer In A Sellers' Market

Winning as a Buyer in a Sellers’ Market [INFOGRAPHIC]

Winning as a Buyer in a Sellers’ Market [INFOGRAPHIC] | MyKCM

Some Highlights

  • Buying a home in today’s sellers’ market doesn’t have to feel like an uphill battle.
  • Here are four ways to make sure you’re positioned for success when making a home purchase, even when the scale tips toward sellers.
  • Let ...
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Posted in Buyers, Buying a Home
Dec. 8, 2020

AZ Housing Market Closing Out 2020 Strong!

There were 10,075 completed sales recorded for single-family and townhouse/condo properties. This is up 15% from November 2019. It is down 10.9% from October, but this is due to the large difference in the number of working days. October 2020 had 22 working days while November had ...

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Nov. 18, 2020

Chances of Another Foreclosure Crisis? About Zero Percent.

Chances of Another Foreclosure Crisis? “About Zero Percent.”

Chances of Another Foreclosure Crisis? “About Zero Percent.” | MyKCM

There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis like the one we experienced after the housing crash a little over a decade ago. However, there’s one major difference this time: a ...

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Nov. 16, 2020

Demand for Homes Up 36%: Rents up 17% Since April

For Buyers: The Rent vs. Buy scenario has become heavily in favor of buying over the last 5 months.  Eviction moratoriums due to the pandemic have greatly reduced turnover rates in a rental market that is already short of supply.  Lease rates on listings through the Arizona Regional ...

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