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Keys to Selling Your House Virtually

by Christie Cannon

Keys to Selling Your House Virtually

Keys to Selling Your House Virtually | MyKCM
 

In a recent survey by realtor.com, people thinking about selling their homes indicated they’re generally willing to allow their agent and some potential buyers inside if done under the right conditions. They’re less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days. The question is, if you need to sell your house now, what virtual practices should you use to make sure you, your family, and potential buyers stay safe in the process?

In today’s rapidly changing market, it’s more important than ever to make sure you have a digital game plan and an effective online marketing strategy when selling your house. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home.

So, if you’re ready to move forward, virtual practices may help you win big when you’re ready to sell. While abiding by state and local regulations is a top priority, a real estate agent can help make your sale happen. Agents know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to the same survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:

  • Virtual tour of the home
  • Accurate and detailed listing information
  • Detailed neighborhood information
  • High-quality listing photos
  • Agent-led video chat

After leveraging technology, if you have serious buyers who still want to see your house in person, keep in mind that according to the National Association of Realtors (NAR), there are ways to proceed safely. Here are a few of the guidelines, understanding that the top priority should always be to obey state and local restrictions first:

  • Limit in-person activity
  • Require guests to wash their hands or use an alcohol-based sanitizer
  • Remove shoes or cover with booties
  • Follow CDC guidance on social distancing and wearing face coverings

Getting comfortable with your agent – a true trusted advisor – taking these steps under the new safety standards might be your best plan. This is especially important if you’re in a position where you need to sell your house sooner rather than later.

Nate Johnson, CMO at realtor.com ® notes:

"As real estate agents and consumers seek out ways to safely complete these transactions, we believe that technology will become an even more imperative part of how we search for, buy and sell homes moving forward."

It sounds like some of these new practices might be here to stay.

Bottom Line

In a new era of life, things are shifting quickly, and virtual strategies for sellers may be a great option. Opening your doors up to digital approaches may be game-changing when it comes to selling your house. Let’s connect so you have a trusted real estate professional to help you safely and effectively navigate through all that’s new when it comes to making your next move.

The Pain of Unemployment: It Will Be Deep, But Not for Long

by Christie Cannon

The Pain of Unemployment: It Will Be Deep, But Not for Long

The Pain of Unemployment: It Will Be Deep, But Not for Long | MyKCM
 

There are two crises in this country right now: a health crisis that has forced everyone into their homes and a financial crisis caused by our inability to move around as we normally would. Over 20 million people in the U.S. became instantly unemployed when it was determined that the only way to defeat this horrific virus was to shut down businesses across the nation. One second a person was gainfully employed, a switch was turned, and then the room went dark on their livelihood.

The financial pain so many families are facing right now is deep.

How deep will the pain cut?

Major institutions are forecasting unemployment rates last seen during the Great Depression. Here are a few projections:

  • Goldman Sachs - 15%
  • Merrill Lynch - 10.6%
  • JP Morgan - 8.5%
  • Wells Fargo - 7.3%

How long will the pain last?

As horrific as those numbers are, there is some good news. The pain will be deep, but it won’t last as long as it did after previous crises. Taking the direst projection from Goldman Sachs, we can see that 15% unemployment quickly drops to 6-8% as we head into next year, continues to drop, and then returns to about 4% in 2023.

When we compare that to the length of time it took to get back to work during both the Great Recession (9 years long) and the Great Depression (12 years long), we can see how the current timetable is much more favorable.The Pain of Unemployment: It Will Be Deep, But Not for Long | MyKCM

Bottom Line

It’s devastating to think about how the financial heartache families are going through right now is adding to the uncertainty surrounding their health as well. Hopefully, we will soon have the virus contained and then we will, slowly and safely, return to work.

How Technology is Helping Buyers Navigate the Home Search Process

by Christie Cannon

How Technology is Helping Buyers Navigate the Home Search Process 

How Technology is Helping Buyers Navigate the Home Search Process [INFOGRAPHIC] | MyKCM
 

Some Highlights:

  • A recent realtor.com survey revealed that buyers are still considering moving forward with the homebuying process, even if they can’t see the home in-person.
  • While they still prefer to physically see a home, virtual home tours and accurate listing information top the list of tech specs buyers find most helpful in today’s process.
  • Let’s connect today to determine how technology can help power your home search.

How to Stay Entertained During Home Lockdown

by Christie Cannon

How to Stay Entertained During Home Lockdown

 

 

For those of you looking to add some new ideas to your daily home quarantine schedule, check out these options:

 

-Home Organization

Choose one category at a time to be organized, like clothes, shoes, books, games, toiletries, food items, tools, toys, etc.  Remove all of the items from that category from their spaces, review each item piece by piece, and decide what will be kept, donated or thrown away.  Then, place the items you’ve decided to keep back into their designated homes in a neat, organized manner.  Likewise, store your donations in one place, ready to be given away as soon as the opportunity arises.

 

-Outdoor Landscaping

Pull weeds from the lawn and flowerbeds, trim hedges and trees, dispose of any dead plants or leaves, mow and edge lawn, re-soil in areas where needed, add fresh mulch and flowers from local growers to beds and pots, and sweep porches and pathways

 

-Exercise

Designate a specific time in your day to get your body moving, as this is good for your mind and soul, too.  If your kids are with you, incorporate a workout that involves them too.  Walks with the dog, bicycle rides, online yoga or aerobic classes, jogs around the block, games of family tag- anything is good!  Just get moving!

 

-Hone Your Talents

If you like to read, read books that you find uplifting.  If you have children at home or that you can connect with virtually, schedule a daily story time with them.  If you like to write, start journaling or author your own short story.  Encourage children to write land mail letters to grandparents or friends that they haven’t seen in a while- especially those who are living alone.  If you prefer drawing, use this time to sketch a pet, a scene from nature, or even another family member.  Kids can even attempt portraits of family members, too!

 

-Cook & Bake

Now is the perfect time to try some new recipes.  Have each family member choose a meal or treat they’d like to cook or bake and take turns creating and enjoying everyones’ efforts.  Sharing in the clean-up afterwards is equally important!  Consider making extra dishes to share with neighbors, too.

 

-Play

Some daily downtime does your mind and body good so be sure schedule time for this too!  Dance parties are great for this.  Turn up your favorite music and dance virtually, with family members, or alone- anyway works great!  Play board games, cards or a game outside with your family.  Play with your pets.  Play dress up or dolls or robots with your kids.  Use your imagination and play creatively!

 

 

Hopefully, some of these ideas will work their way into your daily routine at home.  Share with us how you’re spending your time, too!

What If I Need to Sell My Home Now? What Can I Do?

by Christie Cannon

What If I Need to Sell My Home Now? What Can I Do?

What If I Need to Sell My Home Now? What Can I Do? | MyKCM
 

Every day that passes, people have a need to buy and sell homes. That doesn’t stop during the current pandemic. If you’ve had a major life change recently, whether with your job or your family situation, you may be in a position where you need to sell your home – and fast. While you probably feel like timing with the current pandemic isn’t on your side, making a move is still possible. Rest assured, with technology at your side and fewer sellers on the market in most areas, you can list your house and make it happen safely and effectively, especially when following the current COVID-19 guidelines set forth by the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).

You may have a new baby, a new employment situation, a parent who moved in with you, you just built a home that’s finally ready to move into, or some other major part of your life that has changed in recent weeks. Buyers have those needs too, so rest assured that someone is likely looking for a home just like yours.

According to the NAR Flash Survey: Economic Pulse taken April 5 – 6, real estate agents indicate, not surprisingly, that there’s a noticeable decline in current homebuyer interest. That said, 10% of agents said in the same survey that they saw no change or even an increase in buyer activity. So, while buyer interest is low compared to normal spring markets, there are still buyers in the market. Don’t forget, you only need one buyer – the right one for your home.

Here’s the other thing – people are spending a lot of time on the Internet right now, given the stay-at-home orders implemented across the country. Buyers are actively looking at homes for sale online. Some of them are reaching out to real estate professionals for virtual tours and getting ready to make offers too. Homes are being sold in many markets.

There Is Less Competition Right Now

The same survey indicates that 56% of NAR members said sellers are removing their homes from the market right now. This can definitely work in your favor. If other sellers are removing their listings, your home has a better chance of rising to the top of a buyer’s search list and being seen. Keep in mind, listings will pick up again soon, as 57% of the respondents note that sellers are only planning to delay the process by a couple of months. If you need to sell right now, don’t wait for the competition to get back into the market again.

This year, delayed listings from the typically busy spring season will push into the summer months, so more competition will be coming to the market as the pandemic passes. Getting ahead of that wave now might be your biggest opportunity.

Your Trusted Real Estate Advisor Can Help

Real estate agents are working hard every single day under untraditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans. We’re using virtual tours to show homes currently on the market, staying connected with the buyers and sellers through video chats, and leveraging resources to complete transactions electronically. We’re making sure the families we support remain safe and can keep their real estate needs on track, especially as life is changing so rapidly.

Bottom Line

Homes are still being bought and sold in the midst of this pandemic. If you need to sell your house and would like to know the current status in our local market, let’s work together to create a safe and effective plan that works for you and your family.

Recession? Yes. Housing Crash? No.

by Christie Cannon

Recession? Yes. Housing Crash? No.

Recession? Yes. Housing Crash? No. | MyKCM
 

With over 90% of Americans now under a shelter-in-place order, many experts are warning that the American economy is heading toward a recession, if it’s not in one already. What does that mean to the residential real estate market?

What is a recession?

According to the National Bureau of Economic Research:

“A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”

COVID-19 hit the pause button on the American economy in the middle of March. Goldman Sachs, JP Morgan, and Morgan Stanley are all calling for a deep dive in the economy in the second quarter of this year. Though we may not yet be in a recession by the technical definition of the word today, most believe history will show we were in one from April to June.

Does that mean we’re headed for another housing crash?

Many fear a recession will mean a repeat of the housing crash that occurred during the Great Recession of 2006-2008. The past, however, shows us that most recessions do not adversely impact home values. Doug Brien, CEO of Mynd Property Management, explains:

“With the exception of two recessions, the Great Recession from 2007-2009, & the Gulf War recession from 1990-1991, no other recessions have impacted the U.S. housing market, according to Freddie Mac Home Price Index data collected from 1975 to 2018.”

CoreLogic, in a second study of the last five recessions, found the same. Here’s a graph of their findings:Recession? Yes. Housing Crash? No. | MyKCM

What are the experts saying this time?

This is what three economic leaders are saying about the housing connection to this recession:

Robert Dietz, Chief Economist with NAHB

“The housing sector enters this recession underbuilt rather than overbuilt…That means as the economy rebounds - which it will at some stage - housing is set to help lead the way out.”

Ali Wolf, Chief Economist with Meyers Research

“Last time housing led the recession…This time it’s poised to bring us out. This is the Great Recession for leisure, hospitality, trade and transportation in that this recession will feel as bad as the Great Recession did to housing.”

John Burns, founder of John Burns Consulting, also revealed that his firm’s research concluded that recessions caused by a pandemic usually do not significantly impact home values:

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices).”

Bottom Line

If we’re not in a recession yet, we’re about to be in one. This time, however, housing will be the sector that leads the economic recovery.

D-FW’s Home Market Ranked Among Least At Risk From COVID-19

by Christie Cannon

Housing markets that will be most negatively affected by the COVID-19 infections and resulting economic recession are mostly in the Northeast and Florida, according to a new report by analysts at Attom Data Solutions.

Researchers looked at almost 500 home markets around the country and rated them based on foreclosures, homeowner equity, wages and other factors.

“It’s too early to tell how much effect the coronavirus fallout will have on different housing markets around the country. But the impact is likely to be significant from region to region and county to county,” Attom Data’s Todd Teta said in the just-released report. “What we’ve done is spotlight areas that appear to be more or less at risk based on several important factors.

“From that analysis, it looks like the Northeast is more at risk than other areas,” he said. “As we head into the spring homebuying season, the next few months will reveal how severe the impact will be.”

Attom Data estimates the major housing markets most at risk from the virus include four in New Jersey and the New York area, three in Connecticut and 10 from Florida. Only one was in California, and none were located in other West Coast states.

“Texas has 10 of the 50 least vulnerable counties from among the 483 included in the report, followed by Wisconsin with seven and Colorado with five,” Attom Data analysts said. “The 10 counties in Texas include three in the Dallas-Fort Worth metro area (Dallas, Collin and Tarrant counties).

Harris County in the Houston area and Travis County in the Austin area were also ranked low for coronavirus-related housing shakeouts.

The pandemic and shelter-in-place orders are already affecting North Texas’ housing markets because there are fewer home shoppers in the market at a time of year when home sales typically boom.

And the Dallas-Fort Worth area was one of the few major metros in the country that saw a decline in the median list prices of homes listed for sale in March — they were down 3% from a year ago, according to Realtor.com

Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University, said he’s seen forecasts that predict Texas’ home markets will fare better coming out of the pandemic. But he’s wary of making any predictions.

“Obviously, the New York market will be collapsed and the tourist areas,” Gaines said. “Beyond that, we simply flat don’t know.

“The hit of the virus here in Texas so far has been considered light compared to other areas of the country.”

Gaines said it will be several months before sales and pricing numbers show where the Texas home markets land.

 

“I’ve seen some preliminary March numbers that indicate that we have had a slowdown but not a collapse,” he said. “But going forward, it’s going to look really bad year-over-year.

“March, April, May, June and July are usually our hot housing months.”

Texas markets are expected to outperform.
Texas markets are expected to outperform.(Attom Data Solutions.)

Steve Brown, Real Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth.

 

 

Article Provided By: Steve Brown at Dallas Morning News

Meet Cami Branson - Listing Specialist

by Christie Cannon

Every Monday, meet one of our amazing Team Members!  Today we welcome you to meet Cami Branson, a listing specialist with our Team!

The Housing Market Is Positioned to Help the Economy Recover

by Christie Cannon

The Housing Market Is Positioned to Help the Economy Recover 

The Housing Market Is Positioned to Help the Economy Recover [INFOGRAPHIC] | MyKCM
 

Some Highlights

  • Expert insights are painting a bright future for housing when the economy bounces back – and it will.
  • We may be facing challenging economic times today, but the housing market is poised to help the economy recover, not drag it down.
  • Let’s connect to make sure you’re informed and ready when it’s time to make your move.

The #1 Thing You Can Do Now to Position Yourself to Buy a Home This Year

The #1 Thing You Can Do Now to Position Yourself to Buy a Home This Year | MyKCM
 

The last few weeks and months have caused a major health crisis throughout the world, leading to a pause in the U.S. economy as businesses and consumers work to slow the spread of the coronavirus. The rapid spread of the virus has been compared to prior pandemics and outbreaks not seen in many years. It also has consumers remembering the economic slowdown of 2008 that was caused by a housing crash. This economic slowdown, however, is very different from 2008.

One thing the experts are saying is that while we’ll see a swift decline in economic activity in the second quarter, we’ll begin a sharp rebound in the second half of this year. According to John Burns Consulting:

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analysis by our Information Management team showed the current slowdown is playing out similarly thus far.” 

Given this situation, if you’re thinking about buying a home this year, the best thing you can do right now is use this time to get pre-approved for a mortgage, which you can do from the comfort of your home. Pre-approval will help you better understand how much you can afford so that you can confidently do the following two things when you’re ready to buy:

1. Gain a Competitive Advantage

Today’s low inventory, like we’ve seen recently and will continue to see, means homebuyers need every advantage they can get to make a strong offer and close the deal. Being pre-approved shows the sellers you’re serious about buying a home, which is always a plus in your corner.

2. Accelerate the Homebuying Process

Pre-approval can also speed-up the homebuying process so you can move faster when you’re ready to make an offer. Being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.

Bottom Line

Pre-approval is the best thing you can do right now to be in a stronger position to buy a home when you’re ready. Let’s connect today to get the process started.

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Christie Cannon
Keller Williams Realty
5933 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 972-215-7748
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com