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Buying a Home? Don’t Let Fear Get in Your Way




Don't Let Fear Get In Your Way | Keeping Current Matters

Our founder, Steve Harney, occasionally asks to do a personal post on what he sees as important to our industry. Today we are reposting one of his favorites. Enjoy! – The KCM Crew

Last week, I was talking to a young couple I know that was about to close on their first home. They were riding the wild rollercoaster of current mortgage rate swings and were not happy about the mortgage process overall. Yet, when the conversation shifted to finally living in a home that they own, their disposition changed dramatically.

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Zillow + Trulia: Why It is NOT the End for Agents




Zillow + Trulia: Why it is NOT the End for Agents | Keeping Current Matters

Yesterday, Zillow announced the acquisition of Trulia. Some industry experts are predicting the end of the real estate business as we know. They used words like “checkmate” and “kill shot”. Though we agree that aspects of the industry will be forced to evolve perhaps quicker than they had hoped, we believe this will be an evolution not a revolution. No one needs to die.

THE EVOLUTION

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Is Residential Real Estate Really a ‘Crapshoot’?




Is Residential Real Estate Really a 'Crapshoot'? | Keeping Current Matters

That is what a headline announced in a CNNMoney post Monday. They were quoting Karl Case “an economist whose name is synonymous with home prices. He is co-creator of the much watched S&P/Case-Shiller home price indexes with Bob Shiller, who won the Nobel Prize in economics last year.”

Case did explain that the commonly held belief that housing prices could ‘never’ depreciate was corrected over the last decade. And it is true that Case referenced a home he bought during that time had lost almost half its value.

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Homeownership: This Time the Wall Street Journal Got it Wrong




smugI have been a subscriber to the Wall Street Journal (WSJ) for as long as I can remember. In my opinion, it is the single greatest source of financial information and insights available. I don’t always agree with their analysis but I always respect their position.

However, in an article this past weekend, The New Math of Renting vs. Buying, they flat out got it wrong. Below are a few excerpts from the article and the reason why I believe the analysis to be incorrect.

The Cost of Renting is Lower than the Cost of Owning

In the article, they discuss that homeownership is more expensive than renting in many large metropolitan areas.

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Just Believe Your Own Eyes




Our founder, Steve Harney, occasionally asks to do a personal post on what he sees as important to our industry. Today is one of those days. Enjoy! – The KCM Crew

2.26 VisualMany believe the housing market is in a full out recovery. Others are questioning that assumption. To find out, maybe the only thing we need to do is just open our eyes.

When my wife and I visited Miami ten years ago, we were amazed at the number of building cranes that lined the streets along the beachfront. There was a wave of buyers descending on the city with pockets full of money. Everywhere you looked, there was a new condo complex going up and each building being constructed required a crane on the property. Back then, the city of Miami looked like the set of a Transformer movie with what seemed like hundreds of these huge mechanical machines marching through the city.

Then the housing crisis hit.

Miami property values dropped by over 50%. The buying frenzy cooled.

The cranes disappeared.

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