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Home Buying | 11 Posts
Home Prices | 4 Posts
Home Sellers | 7 Posts
Smart Homes | 1 Posts
Uncategorized | 1 Posts
April
9

Buyer Competition Is Good News for Sellers [INFOGRAPHIC]

Buyer Competition Is Good News for Sellers [INFOGRAPHIC] | MyKCM

Some Highlights

  • With so many buyers looking for homes to purchase and so few houses available today, there's a substantial increase in bidding wars, and homes are selling fast.
  • According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), on average, houses are receiving over four offers from buyers and they're selling in less than three weeks.
  • If you're ready to make a move, let's connect today so you can sell your house while the market is in your favor.
August
28

Tips for Moving During COVID-19

 
 
Planning on moving soon? Here are some of our top safety tips for moving during COVID-19 to protect your family and belongings.
 
The following is a guest post written by Laura McHolm, Co-Founder NorthStar Moving Company 

Over the past few months, we have all been learning how to adapt to the changes brought on by the COVID-19 pandemic. While many of our social events or travel plans have been put on hold, moving does not have to be. Moving and Storage are actually considered essential businesses, which means they remain open. With a little extra planning and by following the CDC and WHO safety measures, you can safely move during the COVID-19 outbreak. Here are some of our top safety tips for moving during COVID-19 to protect your family and belongings.

What to do before your move:

1. Plan a Contactless Move during COVID-19

As you begin researching moving companies online, remember to also ask questions on how they are mitigating the health risks of COVID-19. A few movers can provide virtual estimates, rather than in-home visits. The video estimate feature allows you to get the cost of your move without having an onsite estimator in your home. You can also use this handy moving box calculator to figure out how many moving boxes you will need.

2. Get packing supplies delivered to you

Since studies have shown that the coronavirus can live on cardboard for up to 24 hours, it's best to purchase new moving boxes and tape from your mover. Eco-friendly moving companies, like NorthStar Moving, use moving boxes made of 100% recyclable materials and also give you a discount when you recycle them back. Even during a pandemic, we can do our part to care for our environment.

3. Let others know ahead of time

If you are moving out or into an apartment building or condominium complex, notify your management company of the time and date of your move. Remember to make these arrangements ahead of time on both ends of the move. Ask your management team about using a service elevator for the day of your move and special arrangements needed for parking the moving truck. You should also notify your neighbors by phone or email so that they can be aware to keep a safe distance in halls and elevators on your moving day.

4. Donate unwanted items during this time of need

As you prepare for your move, mark boxes of unwanted clothing and non-perishable food items that can be donated to the Goodwill or local food bank. The COVID-19 outbreak has caused food insecurity for many families; donating your shelf-stable foods is a great way to lighten your load and give back to your community.

What to do during your Move:

5. Extra Sanitary Precautions while moving during COVID-19

Movers should come prepared with their face masks. Keep your distance from movers and avoid handshakes. Keep soap, running water and paper towels available for movers and your family to wash your hands throughout the day. As much as possible, keep windows opened to allow plenty of fresh air to circulate.

6. Label rooms and boxes to make the move seamless

Take the time to label your boxes and the rooms in your new home before your movers arrive. Clear signs will help movers know where to place each moving box and large furniture without you having to come into close contact with them. Creating a simple floor plan ahead of time will save you time and money.

What to do after your Move:

7. Clean your new home before unpacking

After the movers leave, take some time to disinfect any areas that are high touch zones. Wipe down door handles, light switches and bathrooms before you finish unpacking. Get rid of any germs that could have been brought in on foot traffic by sweeping and mopping your floors. 

8. Pack your patience and an overnight bag

Finish unpacking by disinfecting boxes or simply wait 24 hours. Pack a fresh set of sheets, pajamas and toiletries in your overnight bag. This will come in handy after a long day of moving.

Stay informed while moving during COVID-19

Keep in mind, as we all continue to adapt to the changing times, it's important to stay informed and follow any local or state restrictions. At NorthStar Moving, we want to alleviate the anxiety and stress of moving during the Coronavirus pandemic. Please consider all of the extra safety precautions our team is taking during moves and in our offices. If you are not ready to make the move yet, learn how to transform your home for stay-at-home needs.

Laura McHolm is an organizational, moving & storage expert and co-founder of NorthStar Moving Company. NorthStar Moving Company is an award winning, "A+" rated company, which specializes in providing eco-luxury moving and storage services.   www.northstarmoving.com

Home ownership is how most people gain wealth.  Invest in a first or second home and build your wealth.  Some of the more popular locations we sell homes are in Point Pleasant, Brick, Toms River, Forked River, Beachwood, Berkeley Twp, Bayville, Waretown, Barnegat, Lacey Township, Manahawkin, Tuckerton, Little Egg Harbor and Long Beach Island, New Jersey.  
Search homes for sale in Ocean County, New JerseySearch Vacation Rentals on Long Beach Island (LBI). Toms River Real Estate  Little Egg Harbor Real Estate  

March
25

Why the Stock Market Correction Probably Won't Impact Home Values

Why the Stock Market Correction Probably Won't Impact Home Values | MyKCM

With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What's taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market.

This time, the stock market correction is being caused by an outside event (the coronavirus) with no connection to the housing industry. Many experts are saying the current situation is much more reminiscent of the challenges we had when the dot.com crash was immediately followed by 9/11. As an example, David Rosenberg, Chief Economist with Gluskin Sheff + Associates Inc., recently explained:

"What 9/11 has in common with what is happening today is that this shock has also generated fear, angst and anxiety among the general public. People avoided crowds then as they believed another terrorist attack was coming and are acting the same today to avoid getting sick. The same parts of the economy are under pressure ─ airlines, leisure, hospitality, restaurants, entertainment ─ consumer discretionary services in general."

Since the current situation resembles the stock market correction in the early 2000s, let's review what happened to home values during that time.Why the Stock Market Correction Probably Won't Impact Home Values | MyKCM

The S&P dropped 45% between September 2000 and October 2002. Home prices, on the other hand, appreciated nicely at the same time. That stock market correction proved not to have any negative impact on home values.

Bottom Line

If the current situation is more like the markets in the early 2000s versus the markets during the Great Recession, home values should be minimally affected, if at all.  Real estate sales in Ocean County New Jersey are encouraging to both sellers and buyers of real estate.  

March
16

Equity Gain Growing in Nearly Every State

Equity Gain Growing in Nearly Every State | MyKCM

Rising home prices have been in the news a lot lately, and much of the focus is on whether they're accelerating too quickly and how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact they have on a homeowner's equity position.

Home equity is defined as the difference between a home's fair market value and the outstanding balance of all liens on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value increases.

Today, the number of homeowners that currently have significant equity in their homes is growing. According to the Census Bureau, 38% of all homes in the country are mortgage-free.  In a home equity studyATTOM Data Solutions revealed that of the 54.5 million homes with a mortgage, 26.7% of them have at least 50% equity. That number has been increasing over the last eight years.

CoreLogic also notes:

"…the average homeowner gained approximately $5,300 in equity during the past year."

The map below shows a breakdown of the increasing equity gain across the country, painting a clear picture that home equity is growing in nearly every state.Equity Gain Growing in Nearly Every State | MyKCM

Bottom Line

This may be the year to take advantage of your home equity by applying it forward, either as you downsize or as you move up to a new home.

July
19

Americans' Powerful Belief in Homeownership as an Investment

Americans' Powerful Belief in Homeownership as an Investment | MyKCM

The Federal Reserve Bank (The Fed) recently released their 2019  Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.Americans' Powerful Belief in Homeownership as an Investment | MyKCM

The Fed's survey also showed that when the results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment.

This coincides with a recent Gallup survey of Americans which revealed that real estate was their number one choice for the best long-term investment when compared to stocks, savings accounts or gold.

Bottom Line

Americans' belief in residential real estate as a good financial investment continues to grow as the housing market returns to normalcy.  

Home ownership is how most people gain wealth.  Buy a first or second home and build your wealth. Some of the more popular locations we sell homes are in Point Pleasant, Brick, Toms River, Forked River, Beachwood, Berkeley Twp, Bayville, Waretown, Barnegat, Lacey Township, Manahawkin, Tuckerton, Little Egg Harbor and Long Beach Island, New Jersey.  


Search homes for sale in Ocean County, New JerseySearch Vacation Rentals on Long Beach Island (LBI). Toms River Real Estate  Little Egg Harbor Real Estate

July
19

Home Price Appreciation Forecast

Home Price Appreciation Forecast | MyKCM

Questions continue to come up about where home prices will head throughout the rest of this year, as well as where they may be going over the few years beyond.

We've gathered current data from the industry's most reliable sources to help answer these questions:

The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter.

Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.

Zelman & Associates – The firm leverages unparalleled housing market expertise, extensive surveys of industry executives, and rigorous financial analysis to deliver proprietary research and advice to leading global institutional investors and senior-level company executives.

Freddie Mac – An organization whose mission is to provide liquidity, stability, and affordability to the U.S. housing market in all economic conditions extending to all communities from coast to coast.

The National Association of Realtors (NAR) – The largest association of real estate professionals in the world.

Fannie Mae – A leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets.

Here's the home price appreciation these experts are projecting over the next few years:

Home Price Appreciation Forecast | MyKCM

Bottom Line

Every source sees home prices continuing to appreciate, which is great news for the strength of the market. The increase is steepest throughout the rest of 2019, and prices should continue to rise as we move through 2020 and beyond.

Home ownership is how most people gain wealth. Buy a first or second home and build your wealth. Some of the more popular locations we sell homes are in Point Pleasant, Brick, Toms River, Forked River, Beachwood, Berkeley Twp, Bayville, Waretown, Barnegat, Lacey Township, Manahawkin, Tuckerton, Little Egg Harbor and Long Beach Island, New Jersey.
Search homes for sale in Ocean County, New JerseySearch Vacation Rentals on Long Beach Island (LBI). Toms River Real Estate  Little Egg Harbor Real Estate

February
21

Why A Normal Market is Just What We Need

Why A Normal Market is Just What We Need | MyKCM

The National housing market has been hot for a while now. The Ocean County real estate market realized animprovement in January contract sales as opposed to January of 2018.  Homes have been flying off the shelves as fast as they have been listed. Buyers have been competing in bidding wars just to find a home to buy, let alone find their dream home.

This 'seller's market' has driven home prices to new heights. Home price appreciation averaged over 6% across the country.

What's a seller's market?  Most real estate experts agree that when the supply of homes on the market falls below a six month supply, it's a seller's market.  

However, home price growth has recently started to cool down. The latest report from CoreLogic shows that home prices have only risen by 4.7% over the last 12 months.

Many buyers and sellers planning to enter the housing market this year have started to wonder if we are headed towards another housing crash. Ralph McLaughlin, Deputy Chief Economist at CoreLogic, recently stated in an interview,

"There's no reason to panic right now, even if we may be headed for a recession. We're seeing a cooling of the housing market, but nothing that indicates a crash.

The real elephant in the room here is housing supply."

The simple answer is we are returning to a 'normal' market. The inventory of homes for sale more closely matches the demand in the market. The added supply means fewer buyers are outbidding each other. Therefore, prices are experiencing less upward pressure. McLaughlin went on to explain,

"If there are a lot of homes on the market and suddenly no one wants to buy them, you'll get into a downward spiral of price competition. Right now, however, we're in the opposite situation, there isn't an over-abundance of homes on the market."

As more renters looking for their piece of the American Dream enter the housing market, demand for housing will continue to grow. The Joint Center for Housing Studies at Harvard University estimates over 30 million new households will enter the market from now through 2040.

"There's the natural life cycle of young people getting older and starting to do adult life things which include … buying a house and that's a lot of potential inertia that could last indefinitely."

Bottom Line

Home prices will start to appreciate by historical norms as we continue to head towards a more 'normal' market, rather than the over 6% seen over the course of the last couple of years. This is great news! Homeowners looking to sell their New Jersey home will have buyers, as more buyers will be able to afford them!

Home ownership is how most people gain wealth.  Buy a first or second home and build your wealth. Some of the more popular locations we sell homes are in Point Pleasant, Brick, Toms River, Forked River, Beachwood, Berkeley Twp, Bayville, Waretown, Barnegat, Lacey Township, Manahawkin, Tuckerton, Little Egg Harbor and Long Beach Island, New Jersey.  

If you are considering listing your home for sale, contact us, it is important to work with an agent who knows what they are doing.

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