Enjoy delicious brews in the Heights #NeighborhoodSpotlight

Tired of the same old food? Come to Local Group Brewing and try some chef-driven bites with craft beer from their in house brewery. They have tasty things for everyone. They are a group of locals who want to share the best beer with you. They feature lots of seating in an elegant and cleanly designed atmosphere. There’s also the taproom to explore! Foodies and craft beer lovers will be pleased with these tasty treats.

For updated hours, visit their website at: https://localgroupbrewing.com/

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Thinking About Buying? Explore Markets Here: https://hmbt.co/9BLC4f

Own a Home? Unlock Your Home Value: https://hmbt.co/PCYMR4

————————————-

The MOVEMETOTX Team is a real estate team serving the Greater Houston area. We assist buyers, sellers, renters, and investors to achieve their real estate goals throughout Houston. To discuss your real estate goals, give us a call today!

🔻WATCH NEXT🔻

– Home Buying Series: https://bit.ly/movemetotxbuy

– Home Selling Series: https://bit.ly/movemetotxsell

– Local Houston MUST VISIT Spots: https://bit.ly/3al5X4j

– Houston Homes For Sale: https://bit.ly/2DLOrKF

🔻FOLLOW US ON SOCIAL MEDIA🔻

– Facebook: http://www.facebook.com/movemetotx

– Instagram: http://www.instagram.com/movemetotx

– Twitter: http://www.twitter.com/movemetotx

– Website: http://www.movemetotx.com

🔻CONTACT INFO🔻

Katie Day

The MOVEMETOTX Team

Real Broker, LLC

Houston Texas

☎️: 832-558-2522

📩: katie@movemetotx.com

💻: http://www.movemetotx.com

#movemetotx #houstontexas

Key Factors That Impact Affordability Today

Key Factors That Impact Affordability Today | MyKCM

You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable.

There are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each of these components.

1. Home Prices

The most recent Home Price Insights report by CoreLogic shows home values have increased by 19.1% from last January to this January. That was one reason affordability declined over the past year.

2. Mortgage Rates

While the current global uncertainty makes it difficult to project mortgage rates, we do know current rates are almost one full percentage point higher than they were last year. According to Freddie Mac, the average monthly rate for last February was 2.81%. This February it was 3.76%. That increase in the mortgage rate also contributes to homes being less affordable than they were last year.

3. Wages

The one big, positive component in the affordability equation is an increase in American wages. In a recent article by RealtyTrac, Peter Miller addresses that point:

“Prices are up, but what about wages? ADP reports that job holder incomes increased 5.9% last year but rose 8.0% for those who switched employers. In effect, some of the higher cost to buy a home has been offset by more cash income.”

The National Association of Realtors (NAR) also recently released information that looks at income and affordability. The NAR data provides a comparison of the current median family income versus the qualifying income for a median-priced home in each region of the country. Here’s a graph of their findings:

Key Factors That Impact Affordability Today | MyKCM

As the graph shows, the median family income (shown in blue on the graph) is greater than the qualifying income needed to buy a median-priced home (shown in green on the graph) in all four regions of the country. While those figures may vary in certain locations within each region, it’s important to note that, in most of the country, homes are still affordable.

So, when you think about affordability, remember that the picture includes more than just home prices and mortgage rates. When prices rise and rates rise, it does impact affordability, and experts project both of those things will climb in the months ahead. That’s why it’s less affordable to buy a home than it was over the past two years when prices and rates were lower than they are today. But wages need to be factored into affordability as well. Because wages have been rising, they’re a big reason that, while less affordable, homes are not unaffordable today.

Bottom Line

To find out more about affordability in our local area, let’s discuss where home prices are locally, what’s happening with mortgage rates, and get you in contact with a lender so you can make an informed financial decision. Remember, while less affordable, homes are not unaffordable, which still gives you an opportunity to buy today.

An Expert Advisor Will Give You the Best Advice in Today’s Market

An Expert Advisor Will Give You the Best Advice in Today’s Market | MyKCM

Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result, an expert real estate advisor isn’t just good to have by your side, they’re essential.

Today’s housing market is full of extremes. Experts project mortgage rates will continue to rise this year, and that’s driving significant demand for homes as buyers want to make their purchases before rates climb even higher. At the same time, an absence of sellers is leading to record-low housing inventory. This imbalance in supply and demand is creating bidding wars and driving home price appreciation as well as considerable gains in home equity.

These market conditions can feel overwhelming, but you don’t have to go at it alone. Having a trusted expert to coach you through the process of buying or selling a home gives you clarity and confidence through each step.

Here are just a few of the ways a real estate expert is invaluable:

Contracts – Agents help with the disclosures and contracts necessary in today’s heavily regulated environment.

Experience – In an unprecedented market, experience is crucial. Real estate professionals know the entire sales process, including how it’s changed over the past two years.

Negotiations – Your real estate advisor acts as a buffer in negotiations with all parties throughout the entire transaction and advocates for your best interests.

Education – Knowledge is power in today’s market, and your advisor will simply and effectively explain market conditions and translate what they mean for you.

Pricing – Finally, a real estate professional understands today’s real estate values when setting the price of your home or helping you make an offer to purchase one.

A real estate agent is a crucial guide through this unprecedented market, but not all agents are created equal. A true expert can carefully walk you through the whole real estate process, look out for your unique needs, and advise you on the best ways to achieve success. Finding an expert real estate advisor – not just any agent – should be your top priority when you’re ready to buy or sell a home.

What’s the key to choosing the right expert?

It starts with trust. You’ll want to know you can trust the advice they’re giving you, so you need to make sure you’re connected with a true professional. No one can provide perfect advice because it’s impossible to know exactly what’s going to happen at every turn – especially in today’s unique market. But a true professional can give you the best possible advice based on the information and situation at hand. They’ll help you make the necessary adjustments along the way, advocate for you throughout the process, and coach you on the essential knowledge you need to make confident decisions. That’s exactly what you want and deserve.

Bottom Line

It’s critical to have an expert on your side who’s well versed in navigating today’s rapidly changing market. If you’re planning to buy or sell a home this year, let’s connect so you have a real estate professional on your side to give you the best advice and guide you along the way.

Millennials: Do You Need a Home with More Space?

Millennials: Do You Need a Home with More Space? | MyKCM

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home.

If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states:

“They say the pandemic and the emergence of remote work accelerated millennial home-buying trends already under way. . . . Millennials who already owned homes traded up for more space.”

So, if you’re working remotely now or simply have a growing need for additional space, it may be time to move. And even if you purchased your current home sometime over the last few years, you can still move into a different one that has the space and features you’re looking for. That’s because there’s a good chance you have more equity than you realize. As Diana Olick, Real Estate Correspondent for CNBCnotes:

The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth. . . . Even homeowners who weren’t listing their properties for sale were gaining equity. About 42% of homeowners were considered equity-rich at the end of last year, meaning their mortgages were half or less than half the value of their home.”

Growing equity can be the key you need to fuel your next move, especially if you’re looking to purchase a larger home. When you sell your current house, the equity that comes back to you in the sale can be used toward the down payment on your next home.

In other words, your purchasing power may be greater than you realize, making a move to a larger home a realistic option. That, plus your changing needs, might make moving now more desirable than ever.

Bottom Line

If you’re a millennial thinking about moving this year, you’re not alone. Let’s connect today to discuss the equity you have in your current home and the opportunities it can create.

Want Top Dollar for Your House? Now’s the Time To List It.

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

When you’re selling any item, you usually want to sell it for the greatest profit possible. That happens when there’s a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you’re thinking of selling your house this year, here are two reasons why now’s the time to list.

1. Demand Is Very Strong This Winter

recent article in Inman News explains:

“Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists. . . . ‘Home shopping season appears to already be in full swing!’”

And they aren’t the only ones saying buyers are already out in full force. That claim is backed up with data released last week by ShowingTime. The ShowingTime Showing Index tracks the average number of monthly buyer showings on active residential properties, which is a highly reliable leading indicator of current and future trends for buyer demand. The latest index reveals this December was the most active December in five years (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

As the data indicates, buyers are very active this winter. Last December saw even more showings than December of 2020, which was already a stronger-than-usual winter. And remember – you want to sell something when there’s a strong demand for that item. That time is now.

2. Housing Supply Is Extremely Low

Each month, realtor.com releases data on the number of active residential real estate listings (listings currently for sale). Their most recent report reveals the latest monthly number is the lowest we’ve seen in any January since 2017 (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

And don’t forget, the best time to sell an item is when there’s a limited supply of it available. This graph clearly shows how extremely low housing supply is today.

Even Though Supply Is at a Historic Low, Home Sales Are at a 15-Year High

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), existing-home sales totaled 6.12 million in 2021 – the highest annual level since 2006. This means the market is hot and homeowners are in a great place to sell now while sales are so strong.

NAR also reports available listings by calculating the current months’ supply of inventory. They explain:

“Months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.”

The current 1.8-months’ supply is the lowest ever reported. Here are the December numbers over the last five years (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

The ratio of buyers to sellers favors homeowners right now to a greater degree than at any other time in history. Buyer demand is high, and supply is low. That gives sellers like you an incredible opportunity.

Bottom Line

If you agree the best time to sell anything is when demand is high and supply is low, let’s connect to begin discussing the process of listing your house today.

American Made Spirits in Eado Houston #NeighborhoodSpotlight

Eado Spirits is on a mission to create the world’s best organic spirits. With only premium ingredients and an appreciation of fine flavors they’re dedicated to crafting American made luxury brands that will take you beyond traditional libations with every sip!

For updated hours, visit their website at: https://www.eadospirits.com/

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Thinking About Buying? Explore Markets Here: https://hmbt.co/9BLC4f

Own a Home? Unlock Your Home Value: https://hmbt.co/PCYMR4

————————————-

The MOVEMETOTX Team is a real estate team serving the Greater Houston area. We assist buyers, sellers, renters, and investors to achieve their real estate goals throughout Houston. To discuss your real estate goals, give us a call today!

🔻WATCH NEXT🔻

– Home Buying Series: https://bit.ly/movemetotxbuy

– Home Selling Series: https://bit.ly/movemetotxsell

– Local Houston MUST VISIT Spots: https://bit.ly/3al5X4j

– Houston Homes For Sale: https://bit.ly/2DLOrKF

🔻FOLLOW US ON SOCIAL MEDIA🔻

– Facebook: http://www.facebook.com/movemetotx

– Instagram: http://www.instagram.com/movemetotx

– Twitter: http://www.twitter.com/movemetotx

– Website: http://www.movemetotx.com

🔻CONTACT INFO🔻

Katie Day

The MOVEMETOTX Team

Real Broker, LLC

Houston Texas

☎️: 832-558-2522

📩: katie@movemetotx.com

💻: http://www.movemetotx.com

#movemetotx #houstontexas

Millions of Americans Have Discovered the Benefits of Multigenerational Households

Millions of Americans Have Discovered the Benefits of Multigenerational Households | MyKCM

If your needs are changing, you may be thinking about sharing a home with additional loved ones, such as grandparents, adult children, or other extended family members. Whether it’s for financial or health-related circumstances, or simply because you’ve reached a new phase of life, you might be wondering if living with multiple generations under the same roof is a good move for you. Many people have found themselves in a similar situation and they’ve already made the choice to live in a multigenerational home.

What Is a Multigenerational Home?

The Pew Research Center defines a multigenerational household as a home with two or more adult generations. They include households with grandparents and grandchildren under the age of 25. As you weigh your options and decide if multigenerational living is right for you, here’s some helpful information highlighted by other homeowners living with additional loved ones.

The Benefits of Multigenerational Living

A recent report from Generations United surveyed individuals living in a multigenerational setting and asked them about the key benefits of this housing arrangement. It says:

Nearly all Americans who live in a multigenerational household (98%) feel their household functions successfully, citing various aspects of home design, family relationships and interactions, and supports and services influencing their success.”

The study identifies some of the top benefits of this lifestyle as an improved financial situation, better mental and physical health, strengthened bonds with loved ones, and more (see chart below):

Millions of Americans Have Discovered the Benefits of Multigenerational Households | MyKCM

Those are just some of the reasons why most people who decide to live in this situation find it worthwhile. As Donna Butts, Executive Director at Generations United, says:

Families may come together from need, but they are staying together by choice. Indeed, more than 7 in 10 (72 percent) of those currently living in a multigenerational household plan to continue doing so long-term.”

With More Adults Living Under One Roof, You May Need More Space

If you decide to look for a multigenerational home, it’s important to understand what everyone will need to make the arrangement work to its fullest. Something that often makes the top of the list for homeowners living with multiple generations is additional space for privacy. This could mean more bedrooms and bathrooms or features like an in-law suite or a basement.

If you’re realizing your current house doesn’t provide the room you need for multigenerational living, an expert real estate advisor can help you navigate the process to find the right home that works for you and your loved ones.

Bottom Line

Living in a multigenerational household has real and impactful benefits. If you’re interested in learning more about these options in our local area, let’s connect so you can find a home that fits your changing needs.

The #1 Reason To Sell Your House Today

The #1 Reason To Sell Your House Today | MyKCM

Almost every industry is currently struggling with supply chain disruptions. This also applies to the current U.S. housing market, where buyer demand far exceeds housing supply.

Purchaser demand is very strong right now. The National Association of Realtors (NAR) just released their latest Existing Home Sales Report which reveals that sales surged in January. Existing home sales rose to a seasonally adjusted annual rate of 6.5 million – an increase of 6.7% from the prior month, with sales up in all regions. However, there’s one big challenge.

Inventory Is at an All-Time Low

Because purchaser demand is so high, the market is running out of available homes for sale. The above-mentioned report states that the current months’ supply of inventory of homes for sale has fallen to 1.6 months. This prompts Lawrence Yun, Chief Economist at NAR, to say:

“The inventory of homes on the market remains woefully depleted, and in fact is currently at an all-time low.”

Earlier this month, realtor.com released their inventory data for January. It helps confirm this point. Here’s a graph comparing inventory levels for January over the last six years:

The #1 Reason To Sell Your House Today | MyKCM

As the graph shows, new listings coming on the market have decreased over the last four years (shown in blue in the graph). The graph also reveals that carry-over inventory has plummeted in recent years. This is because listings are now sold so quickly, they don’t stay on the market long enough to carry over month-to-month (shown in green in the graph). In other words, homes are not staying on the market for months as they had prior to the pandemic. In the report mentioned above, NAR reveals that:

“Seventy-nine percent of homes sold in January 2022 were on the market for less than a month.”

Odeta Kushi, Deputy Chief Economist at First Americanexplains it like this:

“A higher velocity of sales (lower [Days on Market]) helps to explain a housing market characterized by both higher sales & lower inventory. Many resale transactions are happening so quickly that they ‘flow’ in & then out of the ‘stock’ between the fixed monthly measurement of inventory.”

What Does This Mean for Sellers?

Anyone thinking of putting their home on the market shouldn’t wait. A seller will always negotiate the best deal when demand is high and supply is limited. That’s exactly the situation in the real estate market today.

Later this year, inventory (and by extension, your competition) will increase as many homeowners are waiting to put their homes on the market in the spring and early summer.

In addition, Len Kiefer, Deputy Chief Economist at Freddie Macsays:

“Housing starts start off 2022 strong, just edging out 2021 for most in January since 2006.”

As these newly built homes are completed, they will also become competition for your house. This gives you a tremendous opportunity right now. Don’t wait for that increase in competition in your area. If you want to sell in 2022 and are ready to start the process, today is the day to list your house.

Bottom Line

If you’re ready to sell, let’s connect to get your house on the market while today’s inventory situation is in your favor.

Houston Texas TOP Master Planned Communities?! [PART 2]

One of the most popular communities in the Greater Houston Area are master planned communities. RCLCO Consulting recently came out with the Top-Selling Master-Planned Communities in 2021, and we break down the Houston area communities, their amenities, and price points.

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Thinking About Buying? Explore Markets Here: https://hmbt.co/9BLC4f

Own a Home? Unlock Your Home Value: https://hmbt.co/PCYMR4

————————————-

The MOVEMETOTX Team is a real estate team serving the Greater Houston area. We assist buyers, sellers, renters, and investors to achieve their real estate goals throughout Houston. To discuss your real estate goals, give us a call today!

🔻WATCH NEXT🔻

– Home Buying Series: https://bit.ly/movemetotxbuy

– Home Selling Series: https://bit.ly/movemetotxsell

– Local Houston MUST VISIT Spots: https://bit.ly/3al5X4j

– Houston Homes For Sale: https://bit.ly/2DLOrKF

🔻FOLLOW US ON SOCIAL MEDIA🔻

– Facebook: http://www.facebook.com/movemetotx

– Instagram: http://www.instagram.com/movemetotx

– Twitter: http://www.twitter.com/movemetotx

– Website: http://www.movemetotx.com

🔻CONTACT INFO🔻

Katie Day

The MOVEMETOTX Team

Real Broker, LLC

Houston Texas

☎️: 832-558-2522

📩: katie@movemetotx.com

💻: http://www.movemetotx.com

#movemetotx #houstontexas

Houston Texas TOP Master Planned Communities?! [PART 1]

One of the most popular communities in the Greater Houston Area are master planned communities. RCLCO Consulting recently came out with the Top-Selling Master-Planned Communities in 2021, and we break down the Houston area communities, their amenities, and price points.

————————————-

Thinking About Buying? Explore Markets Here: https://hmbt.co/9BLC4f

Own a Home? Unlock Your Home Value: https://hmbt.co/PCYMR4

————————————-

The MOVEMETOTX Team is a real estate team serving the Greater Houston area. We assist buyers, sellers, renters, and investors to achieve their real estate goals throughout Houston. To discuss your real estate goals, give us a call today!

🔻WATCH NEXT🔻

– Home Buying Series: https://bit.ly/movemetotxbuy

– Home Selling Series: https://bit.ly/movemetotxsell

– Local Houston MUST VISIT Spots: https://bit.ly/3al5X4j

– Houston Homes For Sale: https://bit.ly/2DLOrKF

🔻FOLLOW US ON SOCIAL MEDIA🔻

– Facebook: http://www.facebook.com/movemetotx

– Instagram: http://www.instagram.com/movemetotx

– Twitter: http://www.twitter.com/movemetotx

– Website: http://www.movemetotx.com

🔻CONTACT INFO🔻

Katie Day

The MOVEMETOTX Team

Real Broker, LLC

Houston Texas

☎️: 832-558-2522

📩: katie@movemetotx.com

💻: http://www.movemetotx.com

#movemetotx #houstontexas