2021 has changed so many things in our industry. Here’s a look at 4 trends that look to already what to expect in 2022! If you’re ready to embark on the journey of home buying or selling, we can guide you!
Archives for December 2021
The Average Homeowner Gained $56,700 in Equity over the Past Year!
The Average Homeowner Gained $56,700 in Equity over the Past Year
When you think of homeownership, what’s the first thing that comes to mind? Chances are you might focus on the non-financial benefits, like the security or stability a home provides. But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters.
For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb, your equity does too. That’s exactly what’s happening today. There aren’t enough homes on the market to meet buyer demand, so bidding wars and multiple offers are driving prices up. That’s because people are willing to pay more to buy a home. Right now, this low supply and high demand are giving current homeowners a significant equity boost.
Dr. Frank Nothaft, Chief Economist at CoreLogic, explains it like this:
“Home price growth is the principal driver of home equity creation. The CoreLogic Home Price Index reported home prices were up 17.7% for the past 12 months ending September, spurring the record gains in home equity wealth.â€
To find out just how much rising home values have impacted equity, we turn to the latest Homeowner Equity Insights from CoreLogic. According to that report, the average homeowner’s equity has grown by $56,700 over the last 12 months.
Curious how your state stacks up? Check out the map below to find out the average equity gain for your area.
How Rising Equity Impacts You
If you’re already a homeowner, equity not only builds your wealth, it also opens doors for you to achieve your goals. It works like this: when you sell your house, the equity you built up comes back to you in the sale. You can use those proceeds to fuel your next move, especially if you’ve decided your needs have changed and you’re looking for something new.
If you’re thinking about becoming a homeowner, understanding the importance of equity can help you realize why homeownership is a worthwhile goal. It builds your wealth and gives you peace of mind that your investment is a wise one, not just from a lifestyle perspective, but from a financial one too.
Bottom Line
Whether you’re a current homeowner or you’re ready to become one, it’s important to know how equity works and why it matters. If this inspires you to make a move, let’s connect to explore your options and find out what steps you need to take next.
How’s the Encanterra Market for December?
Encanterra Market Report December 2021
Current active listings: 9
Current under contract listings: 19
Current coming soon listings: 2
How To Cook The Perfect Mulled Wine
Mulled Wine
YIELD: 6 to 8 servings
TIME: 45 minutes
INGREDIENTS
2 large oranges
4 ¼ cups/1 liter red wine
1 ¼ cups/10 ounces brandy
½ cup dark brown sugar
2 cinnamon sticks
6 whole cloves
3 cardamom pods, slightly crushed
PREPARATION
Using a peeler, remove the peel in strips from 1 orange then juice the orange. Slice the other orange into rounds and reserve for garnish.
In a nonreactive saucepan, combine orange peel, juice and the rest of the ingredients. Stir over medium heat until the sugar dissolves, about 2 minutes. Increase the heat to high, bring mixture to a boil, then immediately reduce the heat to low. Simmer gently until flavors meld, about 30 minutes. Strain the mixture, discarding the solids.
Ladle into cups or mugs. Garnish each with a reserved orange round.
A Happy Tail: Pets and the Homebuying Process
A Happy Tail: Pets and the Homebuying Process
![A Happy Tail: Pets and the Homebuying Process [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/12/16123858/20211210-MEM-1-1046x1910.png)
Some Highlights
- It’s no secret that we love our furry friends – about 70% of U.S. households have pets. What may come as a surprise is how large a role they play in the homebuying process.
- Americans spend $1,163 a year on their pets, and nearly half of pet owners say they would move for better accommodations and amenities for their pets.
- If you’re thinking of adding a furry friend, or if you already have, let’s connect to discuss how you can find a home that meets all your pet’s needs.
Homebuyers Are Going on a Shopping Spree This Winter
Homebuyers Are Going on a Shopping Spree This Winter
Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there’s still a group of buyers that are very active this holiday season – homebuyers.
Experts anticipate the real estate market will see a flurry of activity this winter, and that’s great news for today’s sellers. If you’re planning on listing your home, there’s no need to wait until the spring for better conditions – today’s real estate market is already heating up.
Buyers Have Warmed Up to the Idea of Purchasing This Winter
The past 18 months brought about significant lifestyle changes for many of us, including the rise in remote work, job changes, and even early retirement for some. For many people, it’s prompting a search for their next home now rather than waiting for warmer months.
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), points out how this winter may see a significant number of sales:
“Compared to other past winter seasons, this winter season’s sales activity will be stronger. . . . This winter, there will be more sales compared to pre-pandemic winters going back all the way to 2006.â€
You might be wondering: what does strong sales activity mean for you? It means there are likely to be more buyers active in the market this winter – far more than more normal, pre-pandemic years.
In the same article, Danielle Hale, Chief Economist for realtor.com, puts it in these simple terms:
“Sellers can expect to see plenty of buyers.â€
The more buyers there are in the market, the more likely it is your home will get noticed. That can lead to a multiple-offer scenario or a potential bidding war. Receiving multiple offers on your home means you can select the right offer and terms for your situation – so you can truly win as a seller when you list your house this winter.
Bottom Line
If you’re thinking about selling your house, you don’t need to wait until the spring. Buyers are ready now. Let’s connect to discuss why selling this holiday season could be the gift that keeps on giving.
2022 Housing Market Forecast
2022 Housing Market Forecast
![2022 Housing Market Forecast [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/12/15133953/20211217-MEM-1046x2117.png)
Some Highlights
- What does the coming year hold for the housing market? Here’s what experts project for 2022.
- Mortgage rates are projected to rise and so are home prices. Experts are forecasting buyer demand will remain strong as people try to capitalize on rates and prices before they climb, creating another strong year for home sales.
- Let’s connect so you can make your best move in the new year.
Look no further! These are the Encanterra golf views that everyone is talking about!
36698 N Crucillo Drive
Queen Creek, AZ
2 BEDS + DEN + 2.5 BATHS + 2298 SF
Look no further! These are the Encanterra golf views that everyone is talking about. Stunning Genova plan with a pre-paid solar system, triple rolling walls of glass and so many upgrades. The expanded guest suite offers plenty of space for your guests with ensuite bath and huge walk in closet. The kitchen is well equipped with stainless steel appliances, upgraded alder cabinets, granite and gas cooktop. The triple rolling walls of glass lead to a beautiful outdoor space with a fire and water feature and expanded travertine everywhere. The den offers double glass doors for a perfect home office space. This home is immaculate so start your 2022 off right with an Encanterra home!
OFFERED @ 1,020,000
Things to do this weekend Dec 10-12
