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Where Did Americans Move in 2017?

by Christie Cannon

Where Did Americans Move in 2017? [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • Atlas Van Lines recently released the results of their annual Migration Patterns Survey in which they tracked their customer’s movement from state-to-state over the course of 2017.
  • Idaho held on to the top spot of ‘high inbound’ states for the 2nd year in a row followed by Washington.
  • The ‘outbound’ states seem to draw a line straight across the country from Connecticut to Wyoming

Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com

What Impact Will the New Tax Code Have on Home Values?

by Christie Cannon

What Impact Will the New Tax Code Have on Home Values?

Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months.

Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report.

What Impact Will the New Tax Code Have on Home Values? | MyKCM

As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%.

How might the new tax code impact these numbers?

Recently, the National Association of Realtors (NAR) conducted their own analysis to determine the impact the new tax code may have on home values. NAR’s analysis:

“…estimated how home prices will change in the upcoming year for each state, considering the impact of the new tax law and the momentum of jobs and housing inventory.”

Here is a map based on NAR’s analysis:

What Impact Will the New Tax Code Have on Home Values? | MyKCM

Bottom Line

According to NAR, the new tax code will have an impact on home values across the country. However, the effect will be much less significant than what some originally thought.

 

 

Christie Cannon | REALTOR

The Cannon Team

Keller Williams Realty Frisco

469-951-9588

www.ChristieCannon.com

 

4 Reasons to Sell This Winter

by Christie Cannon

Some Highlights:

  • Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available!
  • Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.

 

Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com

 

2018 Housing Market Predictions

by Christie Cannon

2018 Housing Market Predictions

There’s no doubt about it, we’ve been in a hot housing market and 2017 ended just as hot. According to some experts, now as we head into 2018 the market is expected to start to cool down, especially in the higher price ranges, due to tax reform. Standard & Poor’s said that its S&P CoreLogic Case-Shiller national home price index climbed 6.2% in October — 6% above its 2006 peak. Meanwhile, in November pending home sales were up annually for the first time since June and sales of existing homes reached its strongest pace since December 2006, according to the National Association of Realtors.  Check out the article for what we can possibly expect to see in the 2018 housing market

There’s More to a Bubble Than Rising Home Prices

by Christie Cannon

There’s More to a Bubble Than Rising Home Prices



What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened.

“A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real key for detecting a bubble is speculation…Speculation tends to chase appreciating assets, and then speculation begets more speculation, until finally, for some reason that will become obvious to all in hindsight, the ‘bubble’ bursts.

I have taken to calling the housing market a ‘bubble’.”

– Bill McBride of Calculated Risk calling the bubble back in April 2005

Where do we stand today regarding speculation?

There are two measurements that are used to determine the speculation in a housing market:

1. The number of homes purchased by an investor and
2. The number of homes being flipped (resold within a twelve-month period)

As compared to 2005, investor purchases are down dramatically (from 23% to 13%) and so is flipping (from 8.2% to 5.7%). McBride explains:

“There is currently some flipping activity, but this is more the normal type of flipping (buy, improve and then sell). Back in 2005, people were just buying homes and letting them sit vacant – and then selling without significant improvements. Classic speculation.”

What are the experts saying about speculation in today’s market?

DSNews recently ran an article which asked two economists to compare the speculation in today’s market to that in 2005-2007. Here is what they said:

Dr. Eddie SeilerChief Housing Economist at Summit Consulting:

“The speculative ‘flipping mania’ of 2006 is absent from most metro areas.”

Tian LiuChief Economist of Genworth Mortgage Insurance:

“The nature of housing demand is different as well, with more potential homeowners and far fewer speculators in the housing market compared to the 2005-2007 period.”

And what does McBride, who called the last housing bubble, think about today’s real estate market?

Sixty days ago, he explained:

“In 2005, people were just buying homes and letting them sit vacant – and then selling without significant improvements. Classic speculation. And even more dangerous during the bubble was the excessive use of leverage (all those poor-quality loans). Currently lending standards are decent, and loan quality is excellent…

I wouldn’t call house prices a bubble – and I don’t expect house prices to decline nationally like during the bust.”

Bottom Line

Speculation is a major element of the housing bubble formula. Right now, there are not elevated percentages of investors and house flippers. Therefore, there is not an elevated rate of speculation.

 

Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com

 

Keller Williams Does It Again

by Christie Cannon

Keller Williams Continues to Lead the Pack

2017 has been a great year and Keller Williams has been honored to receive a number of prestigious awards.  We are excited to continue excelling in our field!

  • Training Magazine
    #1 training organization across all industries
  • REAL Trends 500
    Keller Williams had more offices (161) represented on top real estate brokerages list than any other franchise
  • REAL Trends/ Wall Street Journal "The Thousand"
    Keller Williams had more agent teams ranked by closed transactions and sales volume than any other franchise
  • RIS Media Power Broker Report
    Keller Williams ranked #1 Power Broker by Brand - home to 32 percent of top brokers
  • REALTOR Magazine
    Keller Williams home to industry-leading five 30 Under 30 winners
  • Swanepoel Power 200
    Eight representatives on list of most powerful people in residential real estate, including Gary Keller, John Davis, and Mary Tennant
  • Inman Real Estate Influencers of 2017
    Seven representatives on list of industry influencers, including Chief Innovation Officer Josh Team
  • National Association of Hispanic Real Estate Professionals 250
    Keller Williams is home to 37 agents on NAHREP's list of top-producing Latino agents including 7 of the Top 10
  • Forbes
    #3 on list of Happiest Companies to Work for in 2017
  • Entrepreneur Magazine
    Top Company Cultures
  • Entrepreneur Magazine
    Moved up 63 spots on Franchise 500 list of top franchises
  • Franchise Business Review
    Top-rated real estate franchise based on franchisee satisfaction
  • Franchise Business Review 
    One of the Top 50 Franchises for Women
  • Franchise Times
    Only real estate company on "Fast & Serious" list of 40 smartest-growing brand

Just one more reason Keller Williams is ranked #1 happiest place to work in 2018!!​​

Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com

 

Tips to Making a Successful Offer!

by Christie Cannon

Before You Make an Offer, Here Are 4 Tips for Success!

So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found it! The price is right, and in such a competitive market, you want to make sure that you make a good offer so that you can guarantee that your dream of making this house yours comes true!

Freddie Mac covered “4 Tips for Making an Offer” in their Executive Perspective. Here are the 4 tips they covered along with some additional information for your consideration:

1. Understand How Much You Can Afford

“While it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”

This ‘tip’ or ‘step’ should really take place before you start your home search process.

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).

2. Act Fast

“Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.” 

The inventory of homes listed for sale has remained well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes.

Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.

3. Make a Solid Offer

Freddie Mac offers this advice to help make your offer the strongest it can be:

“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”

Talk with your agent to find out if there are any ways that you can make your offer stand out in this competitive market!

4. Be Prepared to Negotiate

“It’s likely that you’ll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you’ll be glad you did your homework first to understand how much you can afford.

Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”

If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home.” If the inspector uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made with the seller, or cancel the contract.

Bottom Line 

Whether buying your first home or your fifth, having a local real estate professional who is an expert in their market on your side is your best bet to make sure the process goes smoothly. Let’s talk about how we can make your dreams of homeownership a reality!

 

Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com

 

How Many Hours to Pay Your Mortgage

by Christie Cannon

Many people understand & believe that home ownership is key to fulfilling the American Dream.  In a world where affordability varies so widely and is affected by so many factors, the folks over at HowMuch.net created an amazing visual aid to offer an easy apple-to-apples comparison.  Using US Census Data  to determine median incomes v/s media sale prices, these experts broke down each cities respective housing costs to the number of hours required to cover an average mortgage.  While Memphis, TN can be home by Wednesday, New York, NY will be putting away some late night hours.

 

Want to see how your individual city faired, be sure to check out the source data found here: https://howmuch.net/sources/hours-work-afford-home

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com
 

 

 

Christie Cannon named among America's Best Real Estate Agents

by Christie Cannon

 

Christie Cannon Named to REAL Trends' America’s Best Real Estate Agents in Frisco, TX.

Christie Cannon of Keller Williams Realty Frisco was named one of America’s most productive sales associates as a part of REAL Trends America’s Best Real Estate Agents, the newly issued ranking report produced by REAL Trends and sponsored by Zillow Group.  Cannon’s Team is now a member of the “America’s Best Real Estate Agents,” and ranked number 14 for the state of Texas.  

REAL Trends America’s Best Real Estate Agents ranks over 12,000 residential real estate professionals solely based on their excellence in real estate sales during calendar year 2015. All production numbers are independently verified by a third-party in order to ensure accuracy and report integrity. This group of highly successful real estate sales agents represents less than 1 percent of all real estate practitioners in the United States.

The real estate professionals are ranked in four categories:

• Individual agent — Sales volume
• Individual agent — Transaction sides (in each real estate transaction there are two sides that can be represented by a real estate agent: the buy side and the selling side)
• Agent team — Sales volume
• Agent team — Transaction sides

To qualify for inclusion, an individual agent must have closed at least 50 transaction sides or $20 million in sales volume in 2015. For real estate agent teams, the minimum is 75 transaction sides or $30 million in closed sales volume.

“The average residential real estate agent in the United States closed fewer than eight transactions in 2015 and had less than $1.5 million in sales,” says Steve Murray, publisher of REAL Trends America’s Best Real Estate Agents and president of REAL Trends. “To say that Christie Cannon is an exceptional sales professional is an understatement. To attain this level of sales is truly outstanding.”

“We are also pleased that two of the nation’s most prominent online real estate websites, Trulia® and Zillow®, have partnered with REAL Trends to bring a superior level of customer exposure of these sales agents’ performance,” Murray added.

Information on those receiving this recognition can be found online at http://www.americasbestre.com

“I am obviously pleased and honored to be ranked on this ranking of the country’s top residential real estate agents,” said Christie Cannon, “It represents the time and effort that we put into each client that we serve and how much work it takes to build a successful real estate career. The level of sales it takes to qualify makes it a truly special recognition.”

ABOUT REAL TRENDS

REAL Trends is a Castle Pines, Colorado-based real estate publishing and consulting firm that offers a wide range of research and advisory services to the residential real estate industry. Recognized as the leading source of trends in the industry, REAL Trends also publishes the REAL Trends The Thousand, as advertised in The Wall Street Journal and the REAL Trends 500, which ranks the top brokerage firms in the United States.

Zillow is a registered trademark of Zillow, Inc. Trulia is a registered trademark of Trulia, LLC. These marks are used with permission.

New Build Inventories are Seeing a New Peak

by Christie Cannon

 

 

Many experts have been calling upon home builders to ramp up construction to help with the lack of existing inventory for sale. For the past two months, new home sales have surged, with July’s total coming in at the highest since October 2007.

The latest estimates from the US Census Bureau and Department of Housing and Urban Development show that sales in July were31.3% higher than this time last year, and 12.4% higher than last month, at a seasonally adjusted annual rate of 654,000. 

 Zillow’s Chief Economist, Svenja Gudell, echoed the reaction of some as she commented:

“July(‘s) new home sales data was a surprise, but a welcome one. For years, the market has been practically begging builders to both ramp up their efforts overall and to put more focus on serving the less expensive end of the market. Today's data confirms both are happening in earnest.”

 The National Association of Home Builder’s (NAHB) Chairman, Ed Brady, didn’t seem as surprised:

 “This rise in new home sales is consistent with our builders’ reports that market conditions have been improving. As existing home inventory remains flat, we should see more consumers turning to new construction.”

  NAHB’s Chief Economist, Robert Dietz, believes this is just the start for new home sales if market conditions continue:

  “July’s positive report shows there is a need for new single-family homes, buoyed by increased household formation, job gains and attractive mortgage rates. This uptick in demand should translate into increased housing production throughout 2016 and into next year.”

  The existing home sales numbers for July will be released today and will shed more light on the overall health of the housing market.

Bottom Line

New home sales hit their highest mark in over 9 years. Buyers are out in force to find a home that fits their needs. Many are turning to new construction, as the inventory of existing homes has not been able to keep up with demand.

Displaying blog entries 91-100 of 105

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Photo of Christie Cannon Real Estate
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