The Benefits of Growing Equity in Your Home

The Benefits of Growing Equity in Your Home | MyKCM

Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity. Let’s break down three ways this is a win for homeowners.

1. Move-Up Opportunity

With the rise in prices, homeowners naturally experience an increase in home equity. According to the Homeowner Equity Insights from CoreLogic,

“In the first quarter of 2019, the average homeowner gained approximately $6,400 in equity during the past year.”

This increase in profit means if homeowners decide to sell, they’ll be able to put their equity to work for them as they make plans to move up into their next home.

2. Gain in Seller’s Profit

ATTOM Data Solutions recently released their Q2 2019 Home Sales Report, indicating the seller’s profit jumped at one of the fastest rates since 2015. They said:

“A look at the national numbers showed that U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since the original purchase of $67,500…the average home seller gain of $67,500 in Q2 2019 represented an average 33.9 percent return as a percentage of the original purchase price.”

Looking at the amount paid when they bought their homes, and then the amount they received after selling, we can see that some homeowners were able to walk away with a significant gain.

3. Out of a Negative Equity Situation

Negative equity occurs when there is a decline in home value, an increase in mortgage debt, or both. Many families experienced these challenges over the last decade. According to the same report from CoreLogic,

“U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $485.7 billion since the first quarter 2018, an increase of 5.6%, year over year.

In the first quarter of 2019, the total number of mortgaged residential properties with negative equity decreased…to 2.2 million homes, or 4.1% of all mortgaged properties.”

The good news is, many families have moved beyond a negative equity situation, and no longer owe more on their mortgage than the value of their home.

Bottom Line

If you’re a current homeowner, you may have more equity than you realize. Your equity can open the door to future opportunities, such as moving up to your dream home. Let’s get together to discuss your options and start to put your equity to work for you.

– Kathleen Wheeler –

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July 2018

Saginaw Residential Real Estate Update

Owners sold forty-five homes through the NTREIS Multiple Listing Service in July in Saginaw, Texas.  The average sold price was $224,029 and the median price was $215,000, which demonstrates that home prices have been quite stable for the last few months in Saginaw. Houses continued to sell at nearly their list prices, and less expensive homes sold quickly.

Let’s look at the sales prices for July.  The least expensive home sold for $154,000.  It was fixer-upper in Willowstone Estates built in 2001.  This sale was a surprise because typically, the least expensive homes are in older neighborhoods, such as Saginaw North or Rancho North. Four homes sold in Saginaw North with sold prices between $170,000 and $180,000.  Parkwest had five sales ranging from $208,000 to $225,000, and Highland Station added four from $193,000 to $240,000.  Four Saginaw homes sold for more than $300,000.  Two of these had swimming pools, and three had over-sized lots.  These homes were in the following subdivisions: Saginaw Springs, the Dominion, the Courts of Willow Creek, and Creekwood.

The statistics show that Saginaw homes sold for 99.96% of the original list price.  Eight homes sold for more than their list price.  These great numbers might reflect a few multiple offer situations with buyers competing for homes, but more often the higher prices show that the buyers were rolling seller paid closing costs into their contract prices.

Twenty-five homes sold in two weeks or less.  Usually the less expensive homes sold more quickly. The houses listed for more than $234,500 were on the market about a month.  I believe the time on the mark reflects the greater number of homes for sale at higher prices, including all the new construction in our area.

Now is a fine time to buy or sell a Saginaw home.  Homes are selling relatively quickly with an average time on the market of only twenty-two days, and sellers continue to receive full price offers on many homes, especially if the home is priced right.  The market is also good for buyers because buyers will find more homes for sale and less competition from other buyers than in the recent past.  Sellers seem more willing to give buyers concessions, such as help with closing costs.

If you are interested in buying or selling, please give me a call, send me an e-mail or text me, and let’s plan to meet.  I will give you specific information about the market and Saginaw neighborhoods and how I can be of help to you.  I look forward to serving you.

– Kathleen Wheeler –

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June 2019

Sales for Saginaw, Texas, June 2019

June is traditionally one of the best months of the year for home sales, and this month’s sales followed the trend with robust sales, short times on the market, sold prices near list prices, and a sustained high average price for homes sold by individuals.

Thirty- six homes sold in June.  They ranged in size from 1241 to 3245 square feet with sold prices ranging from $158,350 to $407.500.  The average size of 2044 square feet is larger than homes that have sold some months. This size preference in June probably reflects the fact that this is the time of the year when families with school age children traditionally purchase homes. The smallest, least expensive home was in Rancho North and the largest, most expensive home was in Creekwood.  The houses that sold were built from 1962 until 2017.  The average year built was 1997.

Twenty-four of the homes sold in less than two weeks, the average time to sell was 19 days, and the longest time on the market was 77 days for these homes selling in June.  The average time on the market for the current active listings is 52 days.  These statistics mean that desirable homes in good condition which are priced correctly are selling quickly, but homes that are too expensive, need repairs, have a poor floor plan or present a special challenge could be for sale of months.

Homes sold for an average of 99.56% of the final list price.  The lowest sale was 88.77% of the list price, and ten homes for more than the list price.  The notes in the Multiple Listing Service identify at least four as having multiple offers.  Three of these homes are in Parkwest.

If you wish to list your home in time to attract families with school aged children, now is the time to call, text or e-mail me to market your home as soon as possible.  Most sales transactions need approximately one month to close.  School will start in August, and families are scrambling to purchase a home and move prior to the first day of school.  If you are a buyer looking for the perfect home, please contact me and I will use all of my local knowledge and experience to make your search easy and successful.  I look forward to serving you!

– Kathleen Wheeler –

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May 2019

Saginaw, Texas, Home Sales  2019

Reluctant sellers in Saginaw finally listed their homes, and forty- three homes sold in May as compared to only twenty- seven sales in April.  The average time on the market was twenty-six days, although twenty-six of the homes sold in two weeks or less.

The average home sales price was $210,536.  The homes that sold last month ranged in price from $144,900 for a home built in 1962 in Rancho North Addition to one in Willow Vista constructed in 2015 selling for $279,000.  Sixteen homes sold for less than $200,000.  The newest was built in 2001, and all had less than 2000 square feet.  Certain neighborhoods had several sales last month, including nine for Highland Station and five each for Heather Ridge and Rancho North.

Sellers received an average of 99.64% of their list price.  This average needs some explanation because some sellers had already lowered their prices when they received their full price offers, and some of the sellers allowed buyers to raise the price to cover buyers closing costs paid by the seller.  There appear to be few multiple offers, but the market continues to be very good for sellers.  Sellers are receiving good prices for their homes, and most homes are selling quickly.

Now is also a good time for buyers.  With an increase in the housing inventory and less competing buyers than in previous years, a qualified buyer has an opportunity to find a home to purchase, and multiple offers have become much rarer. Sellers might even consider paying closing costs for the buyer.

If you are thinking about buying or selling, please call me, text me or send me an e-mail.  This is the best time of the year to buy or sell a home, and I am here to help!

– Kathleen Wheeler –

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2 Things You Need to Know to Properly Price Your Home

In today’s housing market, home prices are increasing at a slower pace (3.7%) than they have over the last eight years (6-7%). However, they are still are above historical norms. Low supply of listed homes and high demand from buyers has pushed prices to rise rapidly.

In the mind of the homeowner, annual home price appreciation over 6% has become the new normal. This becomes a challenge when a homeowner looks to refinance or sell their home, as the expectation of what the homeowner believes the home should be worth does not always line up with the bank’s appraisal.

Every month, the Home Price Perception Index (HPPI) measures the disparity between what a homeowner seeking to refinance their home believes their house is worth and what an appraiser’s evaluation of that same home is.

Over the last five months, the gap between the homeowner’s opinion and the bank’s appraisal has widened to -0.78%. This is important for homeowners to note, as even a 0.78% difference in appraisal can mean thousands of dollars that a buyer or seller would have to come up with at closing (depending on the price of the home).

The chart below illustrates the changes in home price estimates over the last 12 months.

2 Things You Need to Know to Properly Price Your Home | MyKCM

While the appraisal gap widens, another trend is also becoming more common.

According to“the share of homes which had their prices cut increased by 2% compared to last year”. Thirty-seven out of the 50 largest US housing markets saw an increase in overall price reductions.

In today’s market, you need an expert agent who can help price your house right from the start. Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the house. In reality, nothing is wrong- the price was just too high!

Bottom Line

If you are planning on selling your house in today’s market, let’s get together to set your listing price properly from the start!

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Why Pet-Friendly Homes Are in High Demand

Why Pet-Friendly Homes Are in High Demand | MyKCM

One of the many benefits of owning your own home is the freedom to find your ‘furever’ friend. By pointing out the aspects of your home that make it ‘pet-friendly’ in your listing, you’ll attract these buyers, rather than alienating the 68% of American households that have a pet!

If you are one of the many homeowners looking to list your home for sale, how do you stand out to the millions of pet parents searching for their dream home?

Whether a dog person, a cat person, or someone who prefers the company of another pet species, 99% of pet owners say that they consider their animal to be family. When finding a home, 95% of animal owners believe it is important that a housing community allows animals.

study by the National Association of Realtors (NAR) revealed that there are many aspects of the home buying, selling and owning experience that have been greatly impacted by our love for our pets.

This should come as no surprise, as $72 billion was spent on pets in the U.S in 2018. NAR’s President William E. Brown shed some light on the impact of pet owners and their home search.

“It is important to understand the unique needs and wants of animal owners when it comes to homeownership. REALTORS® understand that when someone buys a home, they are buying it with the needs of their whole family in mind; ask pet owners, and they will enthusiastically agree that their animals are part of their family.”

The Power of Pets When Choosing the Right Home

  • 89% of pet owners say they would not give up their pet due to a housing restriction
  • 81% of Americans say their pets play a role in their housing situation
  • 31% of animal owners have refused to put in an offer on a home because it wasn’t a good fit for their animals
  • 19% of Americans say they would consider moving for their pet
  • 12% percent have moved for their pet

New home builders have actually begun installing retractable pet gates that tuck away neatly inside door jams as a highly requested feature in new homes to attract pet-parents.

So, if you are a homeowner looking to sell in today’s pet-friendly environment, point out the features of your home that will attract pet owners:

  • Fully fenced in backyard – (91% of pet owners ranked this as the most important feature of a home to accommodate their pet)
  • Locations of dog parks/walking paths/pet-friendly beaches in the area (71% ranked this as the top feature of any neighborhood they would consider)
  • Proximity to veterinarians/groomers/pet supply stores (31%)

Bottom Line

Americans love their pets and will look for pet-friendly features in the home they wish to buy, so take advantage of this knowledge by pointing out your home’s ability to meet their needs.

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A Lack of Inventory Continues to Impact the Housing Market

A Lack of Inventory Continues to Impact the Housing Market | MyKCM

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up and distressed sales (foreclosures and short sales) have fallen to their lowest point in years. The market will continue to strengthen in 2019.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Buyer demand naturally increases during the summer months, but supply has not kept up.

Here are the thoughts of a few industry experts on the subject:

Lawrence Yun, Chief Economist at National Association of Realtors

“Further increases in inventory are highly desirable to keep home prices in check, the sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.”

Jessica Lautz, Vice President of NAR

“There’s a supply-demand mismatch… More inventory is needed at the lower end and a price reduction may be needed at the upper end.”

Danielle Hale, Chief Economist of

“Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions… A buyer’s experience will vary notably depending on the market and price point they’re targeting.”

Bottom Line

If you are thinking of selling, now may be the time! Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price!

Please call, text or e-mail me for more information about our local market and how I can help you.  I look forward to serving you!

– Kathleen Wheeler –

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April 2019

Saginaw, Texas, Residential Home Sales for April 2019

Twenty- seven homes sold in April with prices ranging from $168,000 to $348,000.  The average sales price was $227,743.   The average home sold for 99.11% of the list price, but this statistic does not account for seller paid closing costs for the buyer or price reductions.  Sellers are still receiving good prices, but buyers can expect some concessions, too.

The average time on the market was 28 days, but thirteen homes sold in less than two weeks.  Which homes took the longest to sell?  The three homes that are over 3000 square feet took 107 days, 166 days and 31 days to sell.  These numbers reflect the fact that in this market fewer buyers want to purchase a large home.  The trend is for current buyers to be Millennials or Baby Boomers competing for the smaller homes, especially the one stories.

To look at the sales statistics in more detail, let’s divide the Saginaw sold market into two parts using $220,000 as the division price.  This price is very close to the cost of the least expensive new construction in our area.  Homes that sold for less than $220,000 averaged 1595 square feet, were built between 1966 and 2003, and sold in an average of 17 days.  Only two homes sold in the oldest neighborhoods.

The Saginaw homes selling for more than $220,000 ranged in size from 1747 to 3938 square feet with an average of 2523 square feet.  Many of the homes are single story homes of about 2000 square feet.  The largest homes are in Highland Station and Heather Ridge.  The most expensive home sold is in Creekwood and sold for $348,000.  It is 2905 square feet.  These more costly homes were on the market for an average of 38 days as compared to the first group that sold in 17 days.

This is still a good market for both buying and selling.  Homes are selling at historically high prices. Many are selling quickly. Since fewer buyers are looking for homes than in the last couple of years, buyers will like being the only one making an offer and not having to compete with other buyers in a multiple offer situation.  Buyers can now often negotiate for seller concessions, such as closing costs and repairs.  Because of the low inventory, buyers may need to patiently wait for the home of their dreams to come on the market.  Please contact me so that I can set up a free, online search for you for that perfect home.  I can help you find new construction and assist you with the process of buying a home from a builder and assist you in choosing just the right builder for you.  I will facilitate your search for the perfect preexisting home and do everything possible to make the purchase easy for you.  When I list your home for sale, I work to sell your home for the highest price in the shortest time with the least amount of stress for you.   Please call me, text me or e-mail to learn how I can serve you.  There’s no obligation.

– Kathleen Wheeler –

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Your Fabulous New Dream Home is Now Available

Your Fabulous New Dream Home is Now Available |MyKCM

Over the last several years, many “baby boomers” have undergone a metamorphosis. Their children have finally moved out and they can now dream about their own future. For many, a change in lifestyle might necessitate a change in the type of home they live in.

That two-story, four-bedroom colonial with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. When they decide to travel to be with friends and family, locking up the house is too time-consuming and worrisome.

Instead, a nice ranch home with 2-3 bedrooms and two baths might better fulfill their new needs and lifestyle. The challenge many “boomers” have faced when trying to downsize to the perfect new home has been a lack of inventory.

The average number of years a family stays in their home has increased by fifty percent since 2008, causing fewer houses to come to the market. During the same time, new home builders were concentrating most of their efforts on large, luxury, expensive houses.

However, that is starting to change.

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes rose to a seasonally adjusted annual rate of 692,000 units in March. The great news is that more of those homes were sold at the lower end of the price range.

In a press release last week, the National Association of Home Builders (NAHB) explained that:

“The median sales price was $302,700, with strong gains in homes sold at lower price points. The median price of a new home sale a year earlier was $335,400.”

NAHB Chief Economist Robert Dietz offered further detail:

“We saw a large gain at lower price points where demand is strong. In March of 2019, 50% of new home sales were priced below $300,000, compared to 39% in March of 2018.”

Bottom Line

If you are a “boomer” thinking of selling your old house in order to buy a new home that better fits your current lifestyle, now may be the perfect time!

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Existing Home Sales Slow to Start Spring

Existing Home Sales Slow to Start Spring [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Existing Home Sales slowed to an annual pace of 5.21 million home sales in March.
  • Low inventory levels are still impacting home sales! The current month’s supply of homes for sale is 3.9-months.
  • Median home prices were up 3.8% over last March at $259,400. This marked the 85th consecutive month with year-over-year price gains.
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March 2019

March 2019 Saginaw, Texas, Home Sales

Twenty-three homes sold through multiple listing in March.  These statistics do not include new construction.  The median price was $200,000, and the average sales price was $202,720.  These prices are very similar to the sales in January of 2019.  Prices have not fluctuated this year.

The most expensive home sold for $280,000.  Two of the three highest sales prices were for homes in Willow Creek Addition last month.  Rancho North homes were three of the four least expensive, and one was in Saginaw North.  A home built in 1950 sold for $113,500, but all other homes sold for $165,000 or more.

Only eight homes sold in less than two weeks.  The average days on the market was 40 days.  The least expensive new construction in our area starts at about $216,000, and Saginaw homes that took twenty days or more to sell were those listed for more than $220,000.  The competition from new construction appears to directly effects prices and time on the market for these sales.

When sellers list their homes for the right price, they are still receiving nearly full price offers.  Homes sold for an average of 99.04% of list price.  These prices might be slightly deceptive because without multiple offers, some sellers are paying some buyer’s closing costs.  Buyers and sellers are both winning in this market as sellers sell for the high prices reflecting the recent appreciation of their homes, and buyers can purchase homes without the disappointment of many multiple offer situations when even a full priced offer wasn’t enough.

This is a great time to buy or sell!  If you would like more specific information or if I can help you in any way, please contact me.  I look forward to serving you!

– Kathleen Wheeler –

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February 2019

February 2019 Saginaw, Texas, Residential Home Sales

Saginaw homeowners sold 29 homes through the Multiple Listing Service in February of 2019.  Eleven homes sold for less than $200,000, and only one of these was on the market for more than two weeks.  In other words, homes in this price range are coming on the market, but they are selling so fast that a buyer must be aware of all new listings immediately and be ready to make an offer quickly.  Although the least expensive sale was in the Parks Addition for $130,000, all other homes were more than $175,000. The average price of a Saginaw home was $217,959.  The most expensive home was almost 3000 square feet and located in Creekwood. It sold for $315,000.

The average time on the market was 39 days.  I sold a beautiful home in the Dominion that was on the market for 202 days.  My clients lowered the price slightly after the first couple of months on the market, but they held out for the price they really wanted, and eventually the home sold for 97.97% of the list price.  The average home sold for 99.28 % of the list price.  The home selling for $130,000 sold for the lowest percentage of the list price, 92.92%.  Originally it was listed for $139,000.  This home was a gutted investment opportunity which would not qualify for regular FHA, VA or conventional loan.  Only occasionally are such homes that offer real flipping opportunities available in Saginaw.

If you are thinking of selling, now is the time to call, text or e-mail me.  Only fifteen homes are currently actively for sale in Saginaw for less than $250,000.  We have buyers who have been waiting for their dream home to come on the market, and we have new buyers beginning their home search as spring approaches.  If you contact me, I will give you more information about the market as it pertains to your neighborhood and your home, and I will tell you all about the listing and selling process.  With good information, you can make good choices.  I look forward to serving you.

– Kathleen Wheeler –

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2 Reports That Say Now Is a Great Time to Sell

2 Reports That Say Now Is a Great Time to Sell | MyKCM

Heading into the spring buying market, there are strong trends starting to emerge.

The inventory of homes for sale has increased on a year-over-year basis for eight months in a row. Home price appreciation has continued to grow, although at a slower rate. The homeownership rate has reached heights last seen in 2014, with millennials and Generation X leading the way!

Let’s dive a little deeper into some of the recent reports that have been released and what they mean for the spring buying season!

1. National Association of Realtor’s Existing Home Sales Report

Sales of existing homes were down for the third consecutive month in January. Some of this can be explained by the natural seasonality that the real estate market experiences every year, and some can be explained even further by a lack of homes available for sale on the market.


For the last eight months, the inventory of homes for sale has been higher when compared to the same month the year before. The challenge in the market is the mismatch of the type of home that is available for sale. First-time homebuyers looking for a starter home are often competing with other buyers to stand out, often outbidding each other.

Lawrence Yun, NAR’s Chief Economist, agrees that the market is still experiencing an inventory shortage.

“In particular, the lower end of the market is experiencing a greater shortage, and more home construction is needed.”

Home Prices

The median home price for homes sold in January was $247,500. This is up 2.8% from January 2018 and marks the 83rd consecutive month of year-over-year gains. The 2.8% growth in home prices represents the smallest year-over-year change since February 2012 but is a welcome change for buyers who had feared being priced out of the market.

Days on the Market

Properties that sold in January were on the market for an average of 49 days with 38% of homes on the market for less than a month.

Yun is positive about how today’s market conditions will help buyers this spring,

 “Existing home sales in January were weak compared to historical norms; however, they are likely to have reached a cyclical low. Moderating home prices combined with gains in household income will boost housing affordability, bringing more buyers to the market in the coming months.”

2. NAR’s Pending Home Sales Report

The national Pending Home Sales Index (PHSI) rose 4.6% to 103.2 in January from 98.7 in December. An index score of 100 is considered normal. All four major regions of the country experienced gains in January, with the largest increase coming in the South.

 “The PHSI is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.”

Increases in the PHSI often predict increases in the level of home sales in the coming months, which is great news for the housing market leading in to spring! Yun had this to say,

“Homebuyers are now returning and taking advantage of lower interest rates, while a boost in inventory is also providing more choices for consumers.”

Bottom Line

The housing market in 2019 will require homeowners to list their house at the right price to attract buyers. If interest rates continue to stay low while wages increase, and more inventory comes to market, 2019 could be one of the best years for home sales in recent history. Do you want to know more about our current market and selling your home? Now is a great time to sell. Please contact me.

– Kathleenwheeler –

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3 Reasons Why We Are Not Heading Toward Another Housing Crash

With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago.

Here are three key metrics that will explain why:
Home Prices
Mortgage Standards
Foreclosure Rates

A decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2011). Today, prices are not depreciating. The level of appreciation is just decelerating.

Home values are no longer appreciating annually at a rate of 6-7%. However, they have still increased by more than 4% over the last year. Of the 100 experts reached for the latest Home Price Expectation Survey, 94 said home values would continue to appreciate through 2019. It will just occur at a lower rate.

Many are concerned that lending institutions are again easing standards to a level that helped create the last housing bubble. However, there is proof that today’s standards are nowhere near as lenient as they were leading up to the crash.

The Urban Institute’s Housing Finance Policy Center issues a quarterly index which,

“…measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates that lenders are willing to tolerate defaults and are taking more risks, making it easier to get a loan.”
Last month, their January Housing Credit Availability Index revealed:

“Significant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be well within the pre-crisis standard of 12.5 percent from 2001 to 2003 for the whole mortgage market.”
Within the last decade, distressed properties (foreclosures and short sales) made up 35% of all home sales. The Mortgage Bankers’ Association revealed just last week that:

“The percentage of loans in the foreclosure process at the end of the fourth quarter was 0.95 percent…This was the lowest foreclosure inventory rate since the first quarter of 1996.”
Bottom Line
After using these three key housing metrics to compare today’s market to that of the last decade, we can see that the two markets are nothing alike.  If you would like more information about our local market and how the national market might affect you, please contact me.  I’m here to help you with all of your real estate needs.

– Kathleen Wheeler –

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January 2019

Quiet January Real Estate Market for Saginaw, Texas

Individuals only sold fifteen houses in Saginaw in January.  The least expensive sale was a home on Franklin Street that sold for $125,000 and the most expensive was the one on Commonwealth Drive for $295,000.  The average sales price was $203,117 and the median price was $200,000, which does not represent much change from recent months.  Many of the houses that sold were older this month; the average year built was 1988.  Eight houses were built before 2000, and seven were built after 2000.

The average days on the market for Saginaw homes selling in January increased to 35 days.  Only four homes sold in less than two weeks.  What a radical change from a few months ago when many houses in Saginaw sold within the first two weeks!

Despite the longer time on the market, sellers are still receiving close to their list prices for their homes.  The lowest percentage of the sales price that a seller accepted was 90.20%, and the average sales price as a percentage of the list price was 98.07%.

If you are considering selling, this is a great time to sell with only 24 preowned homes actively for sale in Saginaw.  Buyers are waiting anxiously for more homes to come on the market so that they will have more choices.  My clients check the Multiple Listing Service via my e-mails every day and wait impatiently for the homes they desire.  You can take advantage of this market with so few competing homes for sale.  Please give me a call, text me or e-mail me for more information about the market and how I can serve you.

– Kathleen Wheeler –

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5 Reasons Homeowners Throw the Best Super Bowl Parties!


  • Watching the big game at home with your friends & family offers many advantages.
  • There’s more room to entertain a large crowd, and you don’t have to worry about complaints to your landlord if you cheer too loudly!
  • The kitchen is big enough to make as many appetizers as you want, and if some of your guests are only there to watch the commercials, they can do so on a different TV in another room!
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Is the Recent Dip in Interest Rates Here to Stay?

Is the Recent Dip in Interest Rates Here to Stay? | MyKCM

Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey.

After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states,

“Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”

In some areas of the country, the combination of rising interest rates and rising home prices had made some first-time buyers push pause on their home searches. But with more inventory coming to market, continued price growth, and interest rates slowing, this is a great time to get back in the market!

Will This Trend Continue?

According to the latest forecasts from Fannie Maethe Mortgage Bankers Associationand the National Association of Realtors, mortgage rates will increase over the course of 2019, but not at the same pace they did in 2018. You can see the forecasts broken down by quarter below.

Is the Recent Dip in Interest Rates Here to Stay? | MyKCM

Bottom Line

Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home in 2019 is on your short list of goals to achieve, let’s get together to find out if you are able to today.

– Kathleen Wheeler –

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December 2018

December’s Saginaw Home Sales Were Like a Christmas Gift to
Buyers and Sellers

The thirty-one homes that sold in Saginaw in December were good news for both buyers and sellers.  As multiple offers became less common, buyers were able to negotiate prices and ask for closing costs.  Sellers paid their customary closing costs, and buyers were able to purchase a home without competing with several other potential buyers.  Sellers received prices that reflected the steady appreciation for all of 2018, and the lack of inventory still brought eager buyers to sellers.  The least expensive home sold for $155,000, which was $5100 over the list price.  This home was built in 1955.  The sales price for the most expensive home was $283,000.  My statistics do not include new construction.

I am so excited about this new, more balanced market.  After months of working with potential buyers who lost in bidding wars, this market gives me hope that I can again help families purchase their dream homes.  Many sellers are also buyers, and the new, more balanced market will favor them as they purchase their new homes.

The most amazing news in December was the way that sellers paid closing costs for buyers who purchased homes for less than $210,000.  Almost 60% of the sellers paid an average of $3141 in buyer’s closing costs.  The closing costs paid by the seller ranged from $1000 to $7800.  This closing cost assistance allows buyers to have bring less cash to closing.   The sellers who paid closing costs for the buyers usually received at least a full list price offers for their homes; therefore, the sellers and buyers both benefitted.

Fourteen houses sold for more than $210,000.  Ten of these had price reductions before they sold, and only one seller paid closing costs for the buyer.  The prices were reduced either before the home sold as a price reduction shown in the MLS listing, or the lower price is reflected in the difference between the list price and the final sold price.  When a home was listed for the correct price, sellers did well, receiving at least 97.83% of list price.

This is an excellent time to buy or sell a home!  Please contact me to learn more about our market and how I can serve you.

The average days on the market was forty-one days.  This average included eleven houses that sold in two weeks or less, and three homes that were on the market for more than a hundred days.  The average days on the market is very deceiving because many homes sell immediately when they come on the market. Ofter a buyer is waiting for a home in a certain neighborhood or for an affordable price.  Smart agents have these buyers on automatic searches that will notify the buyers immediately when these desirable homes hit MLS.   The homes that were on the market for months may have needed a price reduction before they sold.

– Kathleen Wheeler –

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File for Your Homestead Exemption Now

If you purchased your home before 2019, and you live in your own home, you probably qualify for a Homestead Exemption on your property taxes.  You can apply for your exemption from January 1 until April 30.  You may call Tarrant County Appraisal District at 817-284-0024 or you may complete the Homestead Exemption application online on the TAD website.  The website will also give you information about other property tax exemptions.

– Kathleen Wheeler –

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November 2018

Saginaw Home Sales Slow in November 2018

Excluding new construction, only 16 Saginaw homes were sold in November.  This is the lowest number of homes sold since the end of the Recession.  Few preowned homes sold because of the very low inventory of homes for sale for less than $250,000.  For buyers who could afford a more expensive home, new construction is readily available in our area.

The sales statistics for November are similar to those of previous months when we look at days on the market and the average price.  The average home sold in 28 days, and seven sold in less than two weeks.  The average sold price was $215,278 with prices ranging from $161,000 to $263,500.

The average home sold for 99.29% of the list price.  This average included three homes that sold for more than the list price.  Let’s look at those: One was a home in Saginaw North that had been completely remodeled, and it truly sold for $10,500 above the list price.  The other two homes were sold with VA loans, and one seller paid $6,500 in closing costs for the buyer and the other seller paid $4,500.  The sales prices above the list prices reflect the buyers’ closing costs that were rolled into the sales price.  These higher prices included closing costs, not multiple offers to raise the price for the seller.

Do you wonder which subdivisions had the most sales in November?  Three homes sold in Saginaw North and in Willow Vista.  Whisperwood, the Courts of Willow Creek, Highland Station and Parkwest each had two sales.  Spring Creek and the Dominion only had one sale each, and many of our subdivisions had none.

If you are thinking about selling your home next year, this is a fine time to plan your strategy and make necessary repairs and updates.  I can help!  Let my experience work for you.  Give me a call, text me or send me an e-mail.  I would be delighted to answer any of your questions and to meet with you for a free consultation if you desire.  I look forward to serving you!

– Kathleen Wheeler –

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October 2018

Saginaw, Texas, Home Sales for October 2018

Twenty-three homes sold through our multiple listing service in October.  These were not new homes sold by builders.  The average sold price was $219,102, and the sold prices ranged from $164,000 to $282,500.

The biggest news for October was the increase in time on the market for homes for sale. The average days on the market shot up from 29 days in September to 41 days in October.  Only seven homes sold in two weeks or less. Six houses were on the market for two months or longer.  One home took 107 days to sell.

The average home sold for 98.73% of the list price, and eleven homes sold for full price or more.  This percentage has not changed in recent months, but some sellers have lowered their original prices significantly before they arrived at a price that would attract a buyer.  Other very desirable homes sold quickly for full price because there are still buyers looking for homes in Saginaw.  Some potential buyers have been looking for their perfect home for months.  When I recently listed a lovely home in Saginaw, I received one offer almost immediately, but earlier in the year I would have expected about five offers in the first few days the home was on the market.

If you or your friends and family have been thinking of purchasing a new home, this could be a good time to buy whether you are considering new construction or an existing home. Many new builders have large inventories and reduced prices on many houses.  I can help find just the right new home.  With the slower market, sellers of existing homes might want to consider benefits to buyers that haven’t been  available to buyers for many months, such as contracts contingent on the sale of the buyer’s current home, requests for closing costs and reduced prices.  I would be delighted to give you more information about the current market and how it could be advantageous for you.  Please call me, text me or e-mail me if I can help you in any way.

– Kathleen Wheeler –

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September 2018

Saginaw, Texas, Residential Real Estate Report for September, 2018

Only twenty preowned homes sold in Saginaw in September.  Sellers competed in a market that’s very different than we had last spring. Children are back in school, and all the school employees have returned to work.  The builders in our area are completing the homes they started months earlier, and now they have plenty of inventory on the ground for immediate purchase and quick move-in opportunities.  These available new homes are often great bargains and serious competition for our sellers.  Our Multiple Listing Service shows 188 newly constructed homes for sale by builders in the Eagle Mountain- Saginaw ISD currently.  I think these homes are the reason the average home was on the market for 29 days, and MLS had no notification of multiple offers.  When an agent has multiple offers on a property, she often will notify the agents through the MLS and give a date and time when she wants the final offers, but I didn’t see one of these announcements in the September sales.  Only seven of the twenty homes sold in less than two weeks.

The average home sold for $206,500. The least expensive home was built in 1958 and was only 950 square feet.  The sales price was $149,000.  The most expensive home was $276,000.  All other homes sold for less than $250,000.

In this more balanced market, six of the twenty homes had price reductions.  Most of the price reductions were on two story homes.  The final sales price still averaged 98.77 % of the list price, which shows that many good homes with fair prices still are receiving good offers.  Eleven of twenty homes sold for full price or more, which indicates that the market was still good for sellers.

Closing costs paid for the buyers are another form of price reduction for the seller.  The sellers paid more than $4000 in three home sales in September.  Five sellers paid $1500 or less.   These seller contributions could have been to cover repairs or for closing costs and prepaid mortgage expenses for the buyer.  During our frantic spring market, these seller- paid closing costs were very unusual.

As we return to a more balanced real estate market, buyers have an opportunity to purchase a home without constantly needing to outbid another buyer.  Buyers also have a chance to carefully consider a home purchase before making a quick offer. Buyers might again be able to negotiate with the seller to have the seller pay some of the buyer’s closing costs.  Sellers should expect reasonable reductions from the list price.  These changes will make the coming months an excellent time to purchase a home, especially with the huge inventory of new construction.

If you are wondering how these changes in the market will affect you and your plans, please contact me for a free consultation.  If you would like a free, no obligation comparative market analysis, e-mail me with EZ Price in the subject line and your address, and I will e-mail you an up to date comparative market analysis.

Please tell all your friends and family about this great buyers’ market and have them to call me, text me or e-mail me so that I can help them take advantage of the great opportunities.  I can contact builders to locate the home of their dreams and help them through the buying process, saving them time, money and energy.  Of course, I can set up their special multiple listing search so that we find exactly what they want as it comes on the market.  I look forward to serving you!

– Kathleen Wheeler –

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August 2018

August Sales for Saginaw, Texas, 2018

August sales reflected the end of the busy summer selling seasons as students, teachers and school personal settle in for the beginning of the new school year.  Forty homes sold by individuals in Saginaw in August.  The average time on the market was only 17 days.  Twenty- seven homes sold in less than two weeks, but only three of these were homes listed for more than $230,000.  When existing homes sell for about the same price as new construction, they generally take longer to sell.

The prices ranged from $129,000 for a home in Rancho North built in 1962 to a home in Creekwood that sold for $335,500.  My report does not include new construction sold by builders because so many of the builders’ sales are not listed in our MLS, and the statistics would be incomplete.  Three homes sold for $300,000 or more.  Twenty-two homes sold for less than $200,000.  The average home was listed for $210,105 and sold for $208,395, selling for 99.21% of the list price.  This relationship between the list price and the sales price has stayed about the same for many months.  About two-thirds of the homes listed for less than $200,000 sold for more than list price, which indicated that there were possibly multiple, competing offers, or the buyer’s agent believed there could be competing offers when the offer was submitted.  Only three of the homes selling for more than $200,000 sold for 100% or more of list price.

Only ten of the forty houses that sold were 2000 square feet or larger.  I thought this statistic was especially interesting since August would be the time when families might still be moving with children before the start of school.  Many factors effect this trend, especially the price.  The most expensive homes are generally the largest. The three homes that sold for more than $300,000 that are all more than 2000 square feet.  New construction in our area gives buyers many choices in large, new homes that are more profitable for builders than smaller ones.  Lower taxes and utilities, ease of maintenance and one story construction also make smaller homes more attractive in our market.  The demographics of our population has young buyers wanting their first home competing with seniors wishing to downsize.

As we move forward into fall, the market appears to be changing. On September 6, 2018, forty-six homes were actively for sale through MLS.  None was new construction.  The average days on the market for these homes was forty-nine days.  These represent many of the homes that didn’t sell last month.  Only eight had come on the market during the last two weeks.  I listed a very desirable home in Highland Station for slightly less than $200,000 and received a very good offer in less than a week, but I did not receive multiple offers.  Earlier in the year I believe this home would have generated more excitement and competing offers.

What does this market shift mean for our buyers and sellers?  Sellers should plan to allow a longer, more realistic time for their homes to sell, and homes will need to be in good condition and priced right to attract buyers. For buyers, this is a great time of the year to go house hunting with the lovely fall weather, and families often want to move before winter and the holidays.  We still have a steady stream of new families moving into our vibrant community, so it can be a good time to be a seller, especially if you have a smaller, one story home to sell.

With less competing buyers, buyers will be able to choose homes more carefully, and sellers might be willing to negotiate  If you have a friend or relative who gave up trying to purchase a home earlier in the year because of the fierce competition for homes, please have that buyer call me.  Now might be the perfect time to find a home to purchase.  If I can help you with buying, selling, preparing your home for sale, please call me, text me or e-mail me.  I look forward to serving you!

– Kathleen Wheeler –

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July 2018

Saginaw Residential Sales for Existing Homes July 2018

Forty-one homes closed through our multiple listing service in July in Saginaw.  Nine of those were new construction.  Because I understand that many more new homes were sold that do not show up in our multiple listing statistics, I no longer include the new construction in my reports.  The least expensive new home in Saginaw cost $251,896.  When we look at the new homes sold through MLS in the Eagle-Mountain Saginaw ISD area, and not just Saginaw, 48 new homes were sold last month, and the prices were as low as $218,990, the price of a DR Horton Express Home.

Seventeen Saginaw houses sold for less than $200,000 in July, and only ten houses are currently for sale for less than $200,000.  Twelve of the seventeen houses sold the first week they were on the market.  Only one house was on the market for more than 10 days.

Some houses on the market for over $200,000 sold quickly, and some sold slowly depending upon what they offered the buyer.  Three houses with inground swimming pools sold during this very hot month.  The homes that were built in the last couple of years were popular and sold faster than older homes.  The homes that were on the market the longest but finally sold were those between 2600 and 3100 square feet.  Two of these took almost six months to sell.  Large houses are harder to sell because new construction includes so many very large homes in our community, and so many buyers want smaller homes as they wish to downsize or purchase their first home.  The average days on the market for all homes was 21 days, but this average is deceiving because it included the homes that took months to sell plus all the homes that sold in less than a week.

The MLS statistics show that sellers are still receiving an average of more than 100% of list price, another deceiving statistic.  Of the homes sold for less than $225,000, twelve sold for more than the list price.  This often reflected the competing multiple offers that a seller received.  Only two homes in this price range sold for less than list price.  When we look at the eight homes sold for more than $225,000. only half sold for the full list price.  The other half accepted about 96% of the list price.

As of the start of August, Saginaw really has two real estate markets, one with homes listed above $220,000 with a growing inventory and a second, hot market for sellers of homes for sale for less than $200,000.  Smaller, older, less expensive homes are still selling quickly with multiple offers, but more expensive homes are taking longer to sell, and sellers can expect price reductions if they list their homes for top dollar.  August also is the end of the spring selling market, and the beginning of the fall market.  Homes that receive a contract now will probably close in September, long after families have settled in for the new school year.

This might be a great time to sell, but then again, it might not be. If you would like a comparative market analysis for your home, a careful analysis of this market, or if I can help you in any way, please call me, text me or e-mail me.  With more than twenty years of experience in Saginaw real estate, I am here to help you.

– Kathleen Wheeler –

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