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Real Estate Continues to Show Unprecedented Strength This Year

Real Estate Continues to Show Unprecedented Strength This Year

Real Estate Continues to Show Unprecedented Strength This Year | MyKCM

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more?

Here’s a look at what several industry-leading experts have to say.

Lawrence Yun, Chief Economist, National Association of Realtors

“Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market…Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery.”

Frank Martell, President and CEOCoreLogic

“Homeowners’ balance sheets continue to be bolstered by home price appreciation, which in turn mitigated foreclosure pressures…Although the exact contours of the economic recovery remain uncertain, we expect current equity gains, fueled by strong demand for available homes, will continue to support homeowners in the near term.”

Zillow

Zillow’s predictions for seasonally adjusted home prices and pending sales are more optimistic than previous forecasts because sales and prices have stayed strong through the summer months amid increasingly short inventory and high demand.

The pandemic also pushed the buying season further back in the year, adding to recent sales. Future sources of uncertainty including lapsed fiscal relief, the long-term fate of policies supporting the rental and mortgage market, and virus-specific factors, were incorporated into this outlook.”

Bottom Line

Many economists are in unison, indicating the housing market will continue to fuel the economy through the end of the year, maintaining this unprecedented strength.

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Why Pricing Your House Right Is Essential

Why Pricing Your House Right Is Essential

Why Pricing Your House Right Is Essential | MyKCM

In today’s real estate market, setting the right price for your house is one of the most valuable things you can do.

According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.comnotes:

“Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.”

When it comes to pricing your home, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.

How to Price Your Home

As a seller, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. You’re thinking, higher price, greater profit, right? But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers and have them looking at the houses your neighbors are selling instead.

Even today, when the advantage tips toward sellers because there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running in the other direction if it isn’t priced just right.Why Pricing Your House Right Is Essential | MyKCM

A Trusted Real Estate Professional Will Help

It’s important to make sure your house is priced correctly by working in partnership with a trusted real estate professional. When you price it competitively, you won’t be negotiating with one buyer over the price. Instead, you’ll have multiple buyers competing for the home, and that’s what ultimately increases the final sale price.

The key is making sure your house is priced to sell immediately. That way, it will be seen by the most buyers. More than one of them may be interested, and your house will be more likely to sell at a competitive price.

Bottom Line

If you’re thinking about listing your house this fall, let’s discuss how to price it right so you can maximize your exposure and your return.

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6 SMART HOME DEVICES FOR LESS THAN $100

Every day, the world presents us with new technology. It seems like there isn’t much left that technology can’t do. Thankfully, with every advancement, many items have become more affordable. While a high-tech home may not be the choice for everyone, there are plenty of budget-friendly options to try out if you are interested in making your home a little bit more accessible. Here are 6 items to try:

  1. Smart Speakers

    Setting reminders, asking questions, and playing music on demand has never been so easy! Smart speakers are capable of making lists for you, looking up recipes, and so much more.

  2. Smart Plugs

    Left the coffee pot plugged in and need to turn it off, but you aren’t home? Smart plugs allow you to turn off (and on) something plugged in from your phone. These are also great for lighting systems like lamps or even holiday lights.

  3. Smart Doorbells

    Smart doorbells are an incredible investment. Monitor who is ringing your doorbell, when packages are dropped off, and so much more all with your phone!

  4. Smart Locks

    Lost keys? Need to let someone in to water your plants while you are out of town? Smart Locks allow you to use your phone to lock and unlock your door, or just use a keypad!

  5. Smart Switches

    Smart switches allow you to turn lights off and on with your phone. Next time you forget to turn off the kitchen light and you are already in bed, smart switches can save the day!

  6. Smart Bulbs

    Adjust the brightness of color in any room when you install smart bulbs. Great for kids or rooms where you want to be able to dim the lights!

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Chamber of Commerce

Chamber of Commerce

The Tri-Lakes Chamber of Commerce is located in downtown Monument, Colorado. A hub for local leaders and business in the Tri-Lakes area.

https://www.trilakeschamber.com/

Review: Tri-Lakes Chamber of Commerce:  My experience with the Chamber is through their generous efforts to make space available in their building for community-related events.  Their Community Meeting Room is clean, large, has new tables and chairs, and an attached kitchen making it a very versatile room. The staff is friendly and makes a huge effort to support the local community. 

Joan C.

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Town of Monument – Government Office

Government

http://www.townofmonument.org/

The Government Office includes departments for Parks, Planning, Public Works, Water, Police, Municipal Court, and the Town Clerk. The Planning Department provides information on home improvements that require permits and the applications for such permits. Other services available through this office include business licenses, cemetery plots, park reservations, and water utility payments. Online payment is available for many of the application and licensing fees, as well as water utility payments.

Town of Monument

645 Beacon Lite Road

Monument, CO 80132

Hours of Operation: 8am-5pm M-F

Phone: 719-481-2954

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Tri-Lakes Cares

Tri-Lakes Cares

https://tri-lakescares.org/

Tri-Lakes Cares is the only food pantry and human services organization located in and serving the Tri-Lakes region. This volunteer supported resource center serves as a critical resource for those in need, providing emergency, self-sufficiency and relief programs. Donations are always welcome, and may be in the form of cash, medical items, stock, food, and your time.

Walk-in Hours for Clients
Monday & Thursday: 12pm – 3pm / 6 pm – 8 pm
Appointments available with Case Managers
on Tuesday, Wednesday and Friday
719-481-4864 

Tri-Lakes Cares
235 North Jefferson St (Physical Location)
P.O. Box 1301 (Mailing Address)
Monument Colorado 80132
719-481-4864
Donate Now!

 

Tri-Lakes Cares:  This is a wonderful non-profit organization that is a community based, volunteer supported resource center and is the only food pantry and human services organization located in and serving the Tri-Lakes region of northern El Paso County.  What I like best about Tri-Lakes Cares is whether you are donating food, funds, resources or time, these efforts directly support people in need in our immediate area.  It is a great place to volunteer and a true asset to the Tri-Lakes community.  3 Rocks!

-Joan C.