Market Updates

June 26, 2020

Bidding War During the Covid-19 Crisis

The COVID-19 pandemic upended just about everything this year, and that includes much of the home-buying process. A new study from Clever revealed that homebuyers who bought between January and May this year are twice as likely to have anxiety and stress than those who bought in the last five ...

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Posted in Market Updates
June 26, 2020

Decreased of Borrowers

The number of borrowers in coronavirus-related mortgage relief programs fell for the second straight week. There are 4.66 million borrowers in government or private-sector forbearance programs, representing 8.8% of all active mortgages, according to Black Knight, a mortgage technology data provider. The numbers are down 77,000 from ...

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Posted in Market Updates
June 26, 2020

Market Heats UP!

Demand for houses continues to rise, based on Redfin CEO Glenn Kelman. Seasonally adjusted demand for houses during the week of June 1 through June 7 was 25% above pre-pandemic levels. Kelman said that bidding wars have caused listings to move quickly, and sales prices are up 3.1% year ...

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Posted in Market Updates
May 19, 2020

Unemployment Report: No Need to Be Terrified

Unemployment Report: No Need to Be Terrified | MyKCM

Last Friday, the Bureau of Labor Statistics (BLS) released its latest jobs report. It revealed that the economic shutdown made necessary by COVID-19 caused the unemployment rate to jump to 14.7%. Many anticipate that next month the percentage could be even higher. These numbers represent the extreme hardship ...

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Posted in Market Updates
April 28, 2020

Today’s Homebuyers Want Cheaper Prices. Sellers Disapprove.

The unpredictability we all  faces today due to the COVID-19 pandemic is causing so many things to change. The way we interact, the way we do business, even the way we buy and sell real estate is changing. This is a moment in time that’s even making some buyers to ...

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Posted in Market Updates
April 27, 2020

Flat rates, tightening requirements & spending plans

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STRICTER STANDARDS

The country's fourth-largest mortgage lender is securing standards for most new home loans among the murky economic outlook. J.P. Morgan Chase stated that starting April 14, most new mortgage loans will require a credit score of 700 and a down payment of 20%. Chase said the ...

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Posted in Market Updates
March 25, 2020

Mortgage payments for homeowners may be delay up to 1 year because of the covid virus

President Trump recently announced that delayed mortgage payments could be an option for borrowers due to the covid-19 virus

People who have experienced a loss of income because of the outbreak may qualify to make reduced payments. Under the new plan, they will not get penalties or late fees, and ...

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Posted in Market Updates
Feb. 28, 2020

Why Inherited Home Sales Can Get Difficult

There are three siblings that inherited their sister's house upon her death, and then one of the brothers died without writing his will. The question is, can the remaining siblings still sell the house without proper documents?

 

Richard from FORT LAUDERDALE, Fla. asks:My sister passed away and ...

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Posted in Market Updates
Dec. 23, 2019

Family Home Sales Went Up in November at Palm Beach County

According to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system, Palm Beach County single-family home sales went up year-after-year in November 2019.

“Palm Beach real estate continues to see strong demand and low supply in particular price points,” JTHS-MIAMI President Kim Price said. “Several ...

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Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood ...

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Posted in Market Updates