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Home Owner | The Keenan Carter Group, Keller Williams Realty CC Blog

Tuesday, September 29, 2020   /   by Monique 'Moey' Nichols

Where Are Home Values Headed Over the Next 12 Months?

As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate?
Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates) to home values depreciating by more than 6% (CoreLogic).
However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As Mark Fleming, Chief Economist at First American, recently revealed:

“The only major industry to display immunity to the economic impacts of the coronavirus is the housing market.”

Have prices continued to appreciate so far this year?
Last week, the Federal Housing Finance Agency (FHFA) released ...

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Thursday, September 24, 2020   /   by Monique 'Moey' Nichols

Home Equity Give Sellers Options in Today’s Market

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.
According to the just-released Q2 Homeowner Equity Insights Report by CoreLogic:

“U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $620 billion since the second quarter of 2019, an increase of 6.6%, year over year.” 

Dr. Frank Nothaft, Chief Economist for CoreLogic, attributes much of the equity growth to rising home prices:

“The CoreLogic Home Price Index registered a 4.3% annual rise in prices through June, which supported an increase in home ...

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  real estate, keenan carter group, keller williams, central coast, home ownership, san luis obispo county, california, home owner, selling a home, time to sell your home, equity, for sellers, home equity, refinance your home, cash out equity

Wednesday, September 23, 2020   /   by Monique 'Moey' Nichols

Home Builder Confidence Hits All-Time Record

Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of prospective buyers of new homes.
As the following chart shows, confidence dropped dramatically when stay-in-place orders were originally mandated earlier this year. Since then, it has soared back.

Looking at the three-month moving averages for HMI scores, confidence increased in every region of the country:

The Northeast increased 11 points to 76
The Midwest jumped 9 points to 72
The South rose 8 points to 79
The West increased 7 points to 85

Confidence Is Validated by the Numbers
This confidence is definitely warranted. According to a recent NAHB report, single-family housing starts increased 4.1% to a 1.02 million a ...

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  real estate, keenan carter group, keller williams, central coast, home buyer, home purchase, buying, new home, house for sale, home owner, move up buyers, new construction, for sellers, for home buyers

Wednesday, September 23, 2020   /   by Monique 'Moey' Nichols

Market Update: This Is Unusual For Fall.

This past week we've seen a slight dip in Sold properties in comparison to the previous week, however the increase in Pending home sales balances things out. In addition, we've also seen 'Under Contract' homes tick up.  New Listings hitting the market are hovering within single digit changes week over week. Inventory continues to remain incredibly low. There's no denying we are in a Seller's Market.


This Seller's Market is unique though. Buyer's are taking advantage of the all-time-low mortgage interest rates available. In today's market, it's not about the price, it's about the payment. Even though sellers are benefiting from minimal days on market, multiple offers and above asking price offers,
buyers can afford more home than ever before.



































Summer home buying season continues to show resilience against the usual fall slowdown as prices continue to hit new highs and homes sell faster ...

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  real estate, keenan carter group, keller williams, central coast, home buyer, san luis obispo county, home owner, market update, real estate market update, buying power, low interest rates, low inventory, sellers market

Tuesday, September 22, 2020   /   by Monique 'Moey' Nichols

The Cost Of The Home Is Far More Important Than The Price

Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported:

“Newly pending sales are up 25.5% compared to the same week last year, the highest year-over-year increase in the weekly Zillow database.”

Whenever there is a shortage in supply of an item that’s in high demand, the price of that item increases. That’s exactly what’s happening in the real estate market right now. CoreLogic’s latest Home Price Index reports that values have increased by 5.5% over the last year.
This is great news if you’re planning to sell your house; on the other hand, as either a first-time or repeat buyer, this may instead seem like troubling news. However, purchasers should realize that the price of a house is not as important as the cost. Let’s break it down.
There are ...

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  real estate, keenan carter group, keller williams, central coast, home buyer, home purchase, home ownership, new home, first time home buyer, affordability, mortgage, buying during a pandemic, cost of housing in california, housing affordability, mortgage rates, cost of living, move up buyers, pricing

The Keenan Carter Group
Richard Keenan And Narlene Carter Keenan
350 James Way, Ste 130
Pismo Beach, CA 93449
805-773-7711
Keller Williams Realty Central Coast DRE# 02005015
The Keenan Carter Group DRE# 00860187
Each Office is Independently Owned and Operated.

Based on information from California Regional Multiple Listing Service, Inc. as of October 29, 2020. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
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