Uncategorized May 11, 2021

Experts Say Home Prices Will Continue to Appreciate

Experts Say Home Prices Will Continue to Appreciate | MyKCM

It’s clear that consumers are concerned about how quickly home values are rising. Many people fear the speed of appreciation may lead to a crash in prices later this year. In fact, Google reports that the search for “When is the housing market going to crash?” has actually spiked 2450% over the past month.

In addition, Jim Dalrymple II of Inman News notes:

“One of the most noteworthy things that came up in Inman’s conversations with agents was that every single one said they’ve had conversations with clients about whether or not the market is heading into a bubble.”

To alleviate some of these concerns, let’s look at what several financial analysts are saying about the current residential real estate market. Within the last thirty days, four of the major financial services giants came to the same conclusion: the housing market is strong, and price appreciation will continue. Here are their statements on the issue:

Goldman Sachs’ Research Note on Housing:

“Strong demand for housing looks sustainable. Even before the pandemic, demographic tailwinds and historically-low mortgage rates had pushed demand to high levels. … consumer surveys indicate that household buying intentions are now the highest in 20 years. … As a result, the model projects double-digit price gains both this year and next.”

Joe Seydl, Senior Markets Economist, J.P.Morgan:

“Homebuyers—interest rates are still historically low, though they are inching up. Housing prices have spiked during the last six-to-nine months, but we don’t expect them to fall soon, and we believe they are more likely to keep rising. If you are looking to purchase a new home, conditions now may be better than 12 months hence.”

Morgan Stanley, Thoughts on the Market Podcast:

“Unlike 15 years ago, the euphoria in today’s home prices comes down to the simple logic of supply and demand. And we at Morgan Stanley conclude that this time the sector is on a sustainably, sturdy foundation . . . . This robust demand and highly challenged supply, along with tight mortgage lending standards, may continue to bode well for home prices. Higher interest rates and post pandemic moves could likely slow the pace of appreciation, but the upward trajectory remains very much on course.”

Merrill Lynch’s Capital Market Outlook:

“There are reasons to believe that this is likely to be an unusually long and strong housing expansion. Demand is very strong because the biggest demographic cohort in history is moving through the household-formation and peak home-buying stages of its life cycle. Coronavirus-related preference changes have also sharply boosted home buying demand. At the same time, supply is unusually tight, with available homes for sale at record-low levels. Double-digit price gains are rationing the supply.”

Bottom Line

If you’re concerned about making the decision to buy or sell right now, let’s connect to discuss what’s happening in our local Rhode Island market. I am here to help!

Uncategorized April 26, 2021

Four ways to maximize the sale of your house!

4 Tips to Maximize the Sale of Your House

4 Tips to Maximize the Sale of Your House | MyKCM

Homeowners ready to make a move are definitely in a great position to sell today. Housing inventory is incredibly low, driving up buyer competition. This gives homeowners leverage to sell for the best possible terms, and it’s fueling a steady rise in home prices.

In such a hot market, houses are selling quickly. According to the National Association of Realtors (NAR), homes are typically on the market for just 18 short days. In Rhode Island many listings like my own recent ones are going under contract on day 3. Despite the speed and opportunity for sellers, there are still steps you can take to prep your house to shine so you get the greatest possible return.

1. Make Buyers Feel at Home

One of the ways to make this happen is to take time to declutter. Pack away any personal items like pictures, awards, and sentimental belongings. The more neutral and tidy the space, the easier it is for a buyer to picture themselves living there. According to the 2021 Profile of Home Staging by NAR:

“82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”

Not only will your house potentially attract the attention of more buyers and likely sell quickly, but the same report also notes:

“Eighteen percent of sellers’ agents said home staging increased the dollar value of a residence between 6% and 10%.”

As Jessica Lautz, Vice President of Demographics and Behavior Insights for NAR, says:

“Staging a home helps consumers see the full potential of a given space or property…It features the home in its best light and helps would-be buyers envision its various possibilities.”

2. Keep It Clean

On top of making an effort to declutter, it’s important to keep your house neat and clean. Before a buyer stops by, be sure to pick up toys, make the beds, and wash the dishes. This is one more way to reduce the number of things that can distract a buyer from the appeal of the home.

Ensure your home smells fresh and clean as well. Buyers will remember the smell of your house, and according to the same report from NAR, the kitchen is one of the most important rooms of the house to focus on if you want to attract more buyers.

3. Give Buyers Access

Buyers are less likely to make an offer on your house if they aren’t able to easily schedule a time to check it out. If your home is available anytime, that opens up more opportunities for multiple buyers to go from curious to eager. It also allows buyers on tight schedules to still get in to see your house.

While health continues to be a great concern throughout the country, it’s important to work with your agent to find the best safety measures and digital practices for your listing. This will drive visibility and create access options that also keep everyone in the process safe. A strong and rich online presence is vital. Having a virtual tour is a great tool online shoppers can tap into.

4. Price It Right

Even in a sellers’ market, it’s crucial to set your house at the right price to maximize selling potential. Pricing your house too high is actually a detriment to the sale. The goal is to drive high attention from competing buyers and let bidding wars push the final sales price up.

Work with your trusted real estate professional to determine the best list price for your house. Having an expert on your side in this process is truly essential.

Bottom Line

If you want to sell on your terms, in the least amount of time, and for the best price, today’s market sets the stage to make that happen. A huge component of what I bring to the table as an agent is my emphasis on helping and assisting.  A huge effort is imparted to make sure you feel guided and assisted every step of the way. Instructing you on what needs to be done to get your home ready to list and HOW to do it is a huge part of what my clients’ refer to as the “Huard Hustle!”   Need help getting started? Reach on out. Helping my clients is my “Why!”

Uncategorized April 17, 2021

Thousands of candles can be lighted from a single candle and the life of a candle will not be shortened.” Buddha

“Happiness never decreases by being shared.”  Buddha

I am a big believer in this tenet and clearly so are the people who comprise my “village.”  Each time I sound the alarm, that there is a need worthy of answering, my neighbors, friends, colleagues and family members line up in droves.  I do believe with all my heart that we ALL want to help others. We all have an innate desire to help, to support, to lessen the pain of those around us. Each day I am reminded of just how vibrant this inclination is within so many I am blessed to know and love.  Throughout all the years of my “rallying calls” and no matter what the need at hand, countless members of all different networks and spheres of mine have come running. Running to offer their time, their gifts, their donations and their love.

My most recent “call to action” was the latest in a series of efforts to give back and to support those within my community. A community for me extends way beyond RI zip codes or town lines, especially when I’ve lived in so many and work as a Realtor in almost all of them! Community knows no borders,  translates in a variety of different ways and is based upon a shared experience. Experiences I have been blessed to share with so many that forever bond us together.

It might be my Save A Lab or City Year community, my Barrington or Brown University communities or my Barrington high alum, La Salle, Governor’s Academy, South Shore Kings, Bridgewater Bandits, PHC, or Friars hockey communities. It may be my Brookline Public School community or my Lesley University or Boston community. No matter what the need, I hear from members of EACH and EVERY community with each “call for support ” I make !!!! How amazing is that?

It’s amazing and it’s reassuring. It reminds us that we ALL are here to help each other. Here to help in small ways and in larger, more “organized” ways. My belief system is based upon the notion that each act of kindness spreads ripples of goodness. Whether it be the look in the eye and the “Thank you” you shared with the bagger at the supermarket, or the offer to hold the door open for someone entering a store to the grand gestures like donating gifts for a family who lost everything in a fire. To me, every little bit counts.

Every bit of goodness sends out ripples of hope. To all of who keep sending that ripple out? I say “thank you.”  For you all are embodying the tenet of Buddha above ….” Thousands of candles can be lighted by a single candle and the life of that candle can never be shortened.”  Keep sharing those lights dear friends…..they are making a difference….a huge one.

Uncategorized April 10, 2021

What Defines Me As A Rhode Island Realtor?

I am fueled daily by the desire to make a difference in the lives of all those around me. A focus that is universal and all-encompassing and innate. It’s a focus on helping others. Real Estate is the perfect conduit to do just that. To be highly engaged throughout RI in a profession that is built on my role in advocating, guiding, and championing others truly is a gift. I simply love what I do and whom I do it for and give my ALL and then some to each and every client!

What frames my approach to real estate?
Authenticity– I am very genuine. I am a huge believer in presenting the good, the bad the ugly.  Being honest and open with my clients and communicating freely and openly from day one so that we reach our mutual goal of a successful sale is my daily approach.
Work ethic. – incredible drive, professionalism, thorough approach. I’ve always had a huge internal drive – as a student growing up, as a competitive tennis player, varsity athlete, and as a Grad student, teacher, and Realtor. . I hold myself to very high standards and set daily goals, always pushing further than the day before.
Staying current – Being on top of all the latest in social media, local news-( RI development/ economy/ real estate market),  technology, video making, Sotheby’s tools/marketing capabilities, staying top of mind through rigorous daily print and online presence on behalf of my clients so that I can optimally present the true “story ” of each and every home I’m blessed to represent.
My network – Born and raised here in RI- Connections in Barrington, PVD , summers in South County, Newport etc., Brown network,  hockey, La Salle/ Prep School network, Gilbane building network,  Barrington friends looking to move back to RI, huge Ma connection. , SIR relationships referrals.  I am actively receiving referrals from agents within SIR and agents who follow me on Social media and I also send many outbound referrals to other Sotheby’s agents. I am an active member of all the private Sotheby’s network groups on social media and within RI real estate networks which I use to push out my listings to add further exposure.

https://www.loom.com/share/9284b49a160f4c90bd9c6b33547c0a03

Uncategorized April 10, 2021

Curious about life in Barrington, RI?

 

I may be small in stature but I am BIG on supporting others. For me, it’s  my “why.”  I am “still” here despite years of severe health challenges so that I can help people. I believe that to be true with all of my heart. Each day my intention is one of helping others. It’s what has me rising early, with a game plan in mind and has me resting a weary head at night, thinking of who else needs to be helped, guided or supported.  It’s my why.

It’s why being a Realtor brings me such a great sense of reward. Each day I’m able to guide, advocate and fight for those that I care about deeply. It was the same satisfying feeling I got from teaching elementary school in Brookline Ma. To know that each day I was making a difference in the lives of my first, second and third graders was the best feeling ever. A feeling that had me arriving at 6 am to start preparing for the day and one that had me up late at night planning for the next morning’s lessons. I still have that sense of drive and discipline as a Realtor.  Early mornings and late nights fueled by my desire to make a significant difference in the lives of others.

It is within that framework that I decided to sponsor Parkbench, Barrington RI. I wanted to create a site that supported the small businesses that fuel our little town in Barrington, RI. To be able to highlight their hard work, their ingenuity and their fortitude especially during a pandemic became a “must do.”  In so doing I hope to shine the light not only on the heartbeat behind our small town but on the way of life and the incredible humans that make this seaside town, my hometown, so endearing.

Uncategorized April 5, 2021

Looking for 5 hot spots to dine at in the East Bay area of RI?

Craving the “skinny” on five local hot spots to dine in or out of in the East Bay area of Rhode Island?

 

 

Uncategorized March 24, 2021

Growing up in a small town in Rhode Island

Growing up in Barrington, RI in the 1970s and 1980s was pretty darn magical. I lived one block away from one set of cousins, two blocks from another and around the corner from my grandparents.  We lived on Ferry Lane until age 8 and then moved “all the way” to Rumstick.  My parents still live in our Rumstick house and I now live 2 blocks from our first home on Ferry Lane.

Being raised in a town surrounded by family members in a community filled with families was a joy. Days were spent biking around the neighborhood, biking to “town” to get an ice cream at Friendly’s or to check out the latest candy at Ben Franklins; located next to the old Almacs. Trips to Chellel’s market were taken almost daily usually with about 4 or 5 friends where buying a Whatchamacallit was ridiculously easy when no cash was exchanged and it was simply added to your family account.

On weekends I left early in the morning and returned in time for dinner; only to then go back outside after dinner to play “Kick the Can” or “Flashlight Tag” with my neighbors.  Days were spent walking and exploring the beach or the harbor wall, climbing trees , walking through Mr. Jones’ rose garden or playing tennis on the courts in the neighborhood if my mom was on ours.  Sports were the activity of choice for many of us whether it be via the Barrington Youth Soccer organization or the Barrington Softball league. I adored all the years I spent playing softball and soccer with my classmates and neighbors.  Learning how to ride horses at a barn my friends  and I stumbled upon during a game of kick the can was incredible. Competitive tennis soon took over yet it is those weekends spent on Barrington beach or tubing in the Cove or the late nights at a long softball game at Haines Park that I relish. Days where 80s music frequently blasted on boomboxes, sunblock was used minimally and the worries were few and far between. My time as a student in Barrington were joy-filled. Nursery School at Barrington College, Kindergarten at Maple Ave elementary and then Nayatt and the Middle School before I headed to good ole BHS. Days filled with laughter, a bit of trouble making and lots of joy with friends I treasure.

Friends who have now also returned to the town they adored as a kid to raise their families. Friends who despite not seeing them often due to crazy work schedules and family life will always be my best of friends because they were my Barrington childhood friends.  They were the ones I explored Barrington with, discovered seaside laughter with and experienced all the ups and downs of teenage hood with.

It’s a special place, this small town by the sea and one I adore sharing with countless clients who come here for reasons that I found so compelling all those years before.

Uncategorized March 24, 2021

Why you should think of listing prices as an Auctions’ reserve price

Every day is auction day lately. The offer price is merely the ticket assigned to the commodity. A commodity whose “worth” escalates exponentially as soon as it hits the market. It’s a market the resonates pure “supply and demand theory” and it’s actively “on display” throughout this state in which I engage in real estate.

It’s a market in need of buyers’ with a savvy, well-informed mindset. Buyers who are cognizant of where values are at within each municipality. For it is only then that the buyer is best qualified to get the final “whack” of the gavel signifying his or her winning bid!

 

For generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price they could offer and still get the home. The asking price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than the list price. It was unthinkable to pay more than what the seller was asking.

Today is different.

The record-low supply of homes for sale coupled with very strong buyer demand is leading to a rise in bidding wars on many homes. Because of this, homes today often sell for more than the list price. In some cases, they sell for a lot more.

According to the Home Buyers and Sellers Generational Trends report just released by the National Association of Realtors (NAR), 45% of buyers paid full price or more.

You may need to change the way you look at the asking price of a home.

In this market, you likely can’t shop for a home with the old-school mentality of refusing to pay full price or more for a house.

Because of the shortage of inventory of houses for sale, many homes are actually being offered in an auction-like atmosphere in which the highest bidder wins the home. In an actual auction, the seller of an item agrees to take the highest bid, and many sellers set a reserve price on the item they’re selling. A reserve price is the minimum amount a seller will accept as the winning bid.

When navigating a competitive housing market, think of the list price of the house as the reserve price at an auction. It’s the minimum the seller will accept in many cases. Today, the asking price is often becoming the floor of the negotiation rather than the ceiling. Therefore, if you really love a home, know that it may ultimately sell for more than the sellers are asking. So, as you’re navigating the homebuying process, make sure you know your budget, know what you can afford, and work with a trusted advisor who can help you make all the right moves as you buy a home.

Bottom Line

Someone who’s more familiar with the housing market of the past than that of today may think offering more for a home than the listing price is foolish. However, frequent and competitive bidding wars are creating an auction-like atmosphere in many real estate transactions. Let’s connect so you have the best advice on how to make a competitive offer on a home in our Rhode Island market.

Uncategorized February 24, 2021

How much leverage do today’s sellers have?

How Much Leverage Do Today’s House Sellers Have?

How Much Leverage Do Today's House Sellers Have? | MyKCM
The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%. There are 360,000 fewer single-family homes for sale today than there were at this time last year. This increase in demand coupled with such limited supply is leading to more bidding wars throughout the country.

Rose Quint, Assistant Vice President for Survey Research with the National Association of Home Builders (NAHB), recently reported:

“The number one reason long-time searchers haven’t made a home purchase is not because of their inability to find an affordably-priced home, but because they continue to get outbid by other offers.”

A survey in the NAHB report showed that 40% of buyers have been outbid for a home they wanted to purchase. This is more than twice the percentage in 2019, which was 19%.

What does this mean for sellers today?

It means sellers have tremendous leverage when negotiating with buyers.

In negotiations, leverage is the power that one side may have to influence the other side while moving closer to their negotiating position. A party’s leverage is based on its ability to award benefits or eliminate costs on the other side.

In today’s market, a buyer wants three things:

  1. To buy a home
  2. To buy now before prices continue to appreciate
  3. To buy now and take advantage of historically low mortgage rates while they last

These three buyer needs give the homeowner tremendous leverage when selling their house. Most realize this leverage enables the seller to sell at a good price. However, there may be another need the seller has that can be satisfied by using this leverage.

Here’s an example:

Odeta Kushi, Deputy Chief Economist at First American, recently identified a situation in which many sellers are finding themselves today:

“As mortgage rates are expected to remain near 3%, millennials continue to form households and more existing homeowners tap their equity for the purchase of a better home…Many homeowners may want to upgrade, but do not for fear that they will be unable to find a home to buy.”

She then offers a possible solution: 

“While the fear of not being able to find something to buy will not disappear in a limited supply environment, new housing supply can incentivize existing homeowners to move.”

There’s no doubt many sellers would love to build a new home to perfectly fit their changing wants and needs. However, most builders require that they sell their house first. If the seller sells their home, where would they live while their new home is being constructed?

Going back to the concept of leverage:

As mentioned, buyers have compelling reasons to purchase a home now, and many homeowners have challenges to address if they want to sell. Perhaps they can make a deal to satisfy each party’s needs. But how?

The seller may decide to sell their home to the buyer at today’s price, which will enable the purchaser to take advantage of current mortgage rates. In return, the buyer might lease the house back to the seller for a pre-determined length of time while the seller’s new home is being built. A true win-win negotiation.

Not every buyer will agree to such a deal – but you only need one.

That’s just one example of how a seller might be able to overcome a challenge because of the leverage they have in today’s market. Maybe you feel a need to make certain repairs before selling. Perhaps you need time to get permits or approvals for certain upgrades you made to the house. Whatever the challenge, you may be able to work it out.

Bottom Line

If you’re considering selling your house in RI now but worry a huge obstacle stands in your way, let’s connect. Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams. I would love to be of help!

Uncategorized February 20, 2021

The incentive to buy in RI is as clear as a “3 bridge day” in the Ocean State!

Home Mortgage Rates by Decade [INFOGRAPHIC]

Home Mortgage Rates by Decade [INFOGRAPHIC] | MyKCM

Some Highlights

  • Mortgage interest rates have dropped considerably over the past year, and compared to what we’ve seen in recent decades, it’s a great time to buy a home.
  • Locking in a low rate today could save you thousands of dollars over the lifetime of your home loan, but these low rates may not last forever.
  • If you’re in a position to buy a home in Rhode Island let’s connect to determine your best move in today’s housing market while interest rates are still in your favor.