More companies are deciding that North Texas is the place to be! Apple recently announced that it has awarded Finisar, an optical communication components manufacturer, $390 million from its Advanced Manufacturing Fund. Finisar is expected to create 500 high-skill jobs, including engineers, technicians and maintenance teams right here in North Texas.
Finisar will transform a shuttered, 700,000-square-foot manufacturing plant in Sherman, Texas, into a high-tech facility developing VCSEL (vertical-cavity surface-emitting laser) chips. VCSEL technology is used to power Apple product features such as Face ID, Animoji, portrait mode selfies and proximity-sensing capabilities. One hundred percent of the VCSELs Apple buys from Finisar will be made in Texas. The hiring process has already begun and the Sherman plant is scheduled to start shipping out products by late 2018.
The City of Sherman has been investing significantly in improved infrastructure and amenities, creating an unparalleled quality of life for its citizens. One more reason DFW is one of the fastest growing areas in the US!
Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588 www.ChristieCannon.com
How do I get really know a neighborhood when searching for a house?
DISCOVERING The NEIGHBORHOOD
There are many factors to consider when selecting a neighborhood that is right for you. Think about the location in terms of commute time to work, distance from leisure-time activities, and proximity to shopping, schools or any other places you frequent. You may think of others factors that are important to you. Please take some time to write them down and share them with us. We are delighted to point in the direction of resource to help ensure that you are as well informed as possible before you consider your home purchase.
Scout out the Neighborhood!
It is important that you scout the neighborhood in person – everyone’s taste is unique. Make sure the community matches your needs and lifestyle.
Talk to people who live there. Ask us if we may have past clients in the area, often they are happy to share their knowledge and experience.
Drive through the entire area at different times of the day, during the week, and on weekends.
Look carefully at how well other homes in the area are being maintained—are they painted; are the yards well cared for; are parked cars in good condition?
Consider attending any upcoming community or HOA event!
Neighborhood Factors to Consider
Look for things such as access to major thoroughfares, highways, and shopping.
Consider recreating your work drive during similar commute times.
Listen for noise created by commerce, roads, railways, public areas, schools, etc.
Travel through the community on weekends and after school hours.
Check with local civic, police, fire, and school officials to find information about the area. Police Public Information Officers can be a great resource.
Research environmental topics such as soil and water quality, as well as floodplain implications.
Study traffic patterns around the area at different times of the day and measure drive time from the area to work.
Is the neighborhood near parks, places of religious worship, recreation centers, shopping, theaters, restaurants, public transportation, schools, etc.? Consider where you spend your time, outside of your home.
Does the neighborhood have a Homeowner’s Association? If so, how much is it and what does that add to my monthly payment.
As always, please do not hesitate to let us know how we can assist!
What must a Buyer Know in Multiple Offer Situations?
If you walk in a home and instantly fall in love with it, the odds are pretty high you aren’t the only one. (Click HERE for Why!) Welcome to multiple offers. The best thing you can do is make an offer as soon as you are comfortable and make it good.
Buyers often pass over making an offer for the simply the fear of being in multiple offers. Don’t let your fear get in the way! Don’t assume that you may not have a chance; get your offer in. There is always a chance that your offer may just be what the sellers are looking for. Likewise, very often we see buyers & agents get overly discouraged in a competitive market and fail to submit their offer based on a false assumption of multiple offers.
Should a property receive multiple offers, the seller will likely request a highest and best with a deadline for submission. However, a seller is not required to do so! It is not uncommon for a seller’s needs to be met by one particular offer (a stand out offer) and they don’t request highest & best - they simply try and work with the offer the best suits their needs. Remember, there is more to the offer than price alone. If you can offer the seller flexibility with the closing date, or perhaps allowing the seller to stay in the home for a few days after closing, you may just win the day.
First discuss your strategy with your agent, and understand your options. Be frank in your desire for a particular house; this way, your strategy can support your needs. Second ask yourself what this home is worth to you and what you are willing to lose it over. Simply put, there is a price that keeps the house attractive, and a price where "losing" the offer is acceptable. Lastly, ask your lender about your options to make sure the home & strategy remain affordable in your set budget.
Something to remember, in Texas, a seller is not required to disclose if they have more than one offer! And there are times when a seller may feel requesting a "highest & best" offer is not in their best interest. That is why you may want to put out your best offer forward, if it is a home you truly want. When you put your best offer forward, you know that should the seller select another offer, it was at terms or a price greater that you were willing to pay.
If you end up in a multiple offer scenario, we can help you create a strategy that you feel will put you in the best position to meet your goals. The most important thing to remember, do not get discouraged! The answer is always “No”, if you don’t make the offer!
Why am I affiliated with Keller Williams Realty? - Christie Cannon | Keller Williams Frisco
My affiliation with the fastest growing and largest Real Estate company in the world is no accident! With my business partner and husband holding an independent Broker’s license, and given my long experience in real estate – the opportunity to be affiliated with any number of brokerages and companies is available.
I wanted to affiliate my real estate services, and The Christie Cannon Team, with a company whose values closely match my own, a company that offered exceptional tools for their agents to in-turn provide an exceptional home-buying and home-selling experience to each client, and a company that actually listened to suggestions from its agents. That is why we choose to be affiliated with Keller Williams Realty.
Here is the belief system at Keller Williams Realty, simple, clear, effective, and powerful:
With a business belief system this well-defined, I am assured that my past and current customers always come first. It’s Keller Williams Realty’s & The Christie Cannon Team’s commitment to you.
More Staging Tips to Help You Sell Faster and for More Money, from Christie Cannon | Keller Williams Frisco Tx
Buyers love built-in bookshelves. There’s a fine line between filling them with clutter and staging them to sell. The trick is to arrange neutral items in clusters. Make sure that no single accessory stands out too much. That way, you’ll show off your attractive built-ins, and not your personal belongings.
Curb appeal is vital to attracting buyers. First, with two tones of paint, add a faux finish to any corner keystones. Next, bring out the color of walkway pavers using a stone sealer and finally, plant flowers in bloom.
Staging rooms to show off their true potential is essential when selling your home. Clear out clutter or other personal items that will distract buyers. Paint the walls a neutral tine, and furnish the space to show off how functional it is.
Let the sun shine in. Buyers love light and airy living rooms, but dark and dingy isn’t on their list. Open up your window shades to let some light in. Cheat some sunshine with a light-colored paint and lots of artificial lighting. You can never have too many lamps.
Unpleasant pet odors won’t win over buyers. We all love our pets, but unpleasant pet odors can make a negative first impression. Be sure to get rid of old carpet than can trap offensive smells. Replace it with fresh new carpet in a neutral color. Plus, if you paint the walls to match, your living room will look bigger. If that doesn't do the trick, consider an Ozone Treatment!
Storage space sells! Potential buyers love homes that have lots of storage space. Since they will open your closets, it’s a good idea to clear out unnecessary clutter, and organize your shelves to show off how much storage you really have. Plus, it gives you a chance to start packing, as you will definitely be moving once buyers see all that closet space.
Create a nice flow in your rooms. Buyers are attracted to homes that have a good flow. You can create circulation by replacing square or rectangular dining tables with round ones. Cutting the corners adds room to this maneuver and creates a spinoff effect that adds flow to your home – cash flow, that is.
Pack up unnecessary items. An overpacked room is a red-flag to buyers that a home lacks storage. Clear the way for buyers to see your space and square-footage. Consider a short term storage unity or even the garage.
Some Staging Tips for Selling Your Home Faster, from Christie Cannon | Keller Williams Frisco
Grimy bathroom walls are a major red flag to buyers. Here is an easy way to get rid of surface mold: Mix a spray bottle with one part water and one part bleach. Just spray it on the wall, and watch the mold disappear. Give it a fresh coat of paint and your grimy bathroom will go from red flat to red-hot.
Don’t replace a yucky shower door: Just scour it. Instead of replacing it, clean it with a mixture of one part muriatic acid and about 10 parts water. Scrub with steel wool, wipe it down and reinstall the door.
Avoid dated tile by painting. Bathrooms sell houses, but dated tile in a bathroom doesn’t. A low-cost alternative to replacing the tile is to use paint. First coat the tiles with a high-adhesion primer. Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks.
Pedestal sinks are a big hit with buyers. They show off square footage in small bathrooms beautifully. First, your old vanity has to go. Next, just hook up your new sink and your bathroom will have dramatic appeal that brings in big bucks.
A master bedroom should appeal to both sexes. Get rid of features that seem too gender-specific. Paint the walls a neutral color, and choose bedding that matches. Then accessorize with items that complement the overall color scheme.
New kitchen appliances bring high returns from sellers. Once you install the new equipment, it will scream “new kitchen,” and you will see that spending a little money will make you even more.
Turn an unattractive fireplace into a selling feature. First, that dated brass screen has got to go. Next, give the fireplace a good cleaning, scrubbing it with soap and water. Then, using a stone color enhancer, polish the bricks to make them shine.
Stain or paint dated kitchen cabinets instead of replacing them. First, apply the stain in even strokes, going with the grain of the wood. Add some stylish hardware, and your kitchen will have the up-to-date look that buyers love.
Stainless-steel appliances are definitely in with buyers. Instead of buying a new dishwasher, there may be a low-cost way to resurface an old one: check with your manufacturer, many sell replacement panels & covers for the dishwasher facing.
Fill existing hardware holes instead of making new, unsightly ones. First, dip a toothpick in glue and place it in the stripped hole. Cut off the excess piece. Once the glue dries, you’ll be ready to put in the hardware that buyers love.
Save money on granite countertops. First, see if you can do the demo yourself. Also, ask the vendor for remnants from previous projects for smaller bathroom jobs. Remember, many times the money you spend will definitely returned in the value these beautiful counters add to your kitchen & baths.
Have Questions, feel free to give me a call!
CHRISTIE CANNONREALTOR
The Christie Cannon Team
Keller Williams Frisco
469-951-9588: Mobile
Voted as one of the BEST Realtors in D Magazine for 2010-2016
Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine
Name among America's Best Real Estate Agents by Real Trends Magazine
So by now we have all seen the myriad of TV Real Estate Shows - you know the shows where lovely couples are generally seeking out starter homes at prices that would make our average North Texas' buyers pass-out. As a long-time agent and someone who has been asked by producers to participate in such shows, I am often asked what is the Reality v/s the Realty? I came across the below blog post from a Real Estate Magazine that discusses that very question. By now most of this may be fairly common knowledge, but I thought it may also be a little fun.
Reality TV Show Myths vs. Real Life:
Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.
Truth: There may be buyers who fall in love and buy the first home they see, but more often than not the process of buying a home means touring more than three homes. (We often see buyers who understandably want to tour & examine dozens of homes before they are comfortable making such an expensive decision.)
Myth #2: The houses the buyers are touring are still for sale.
Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.
Myth #3: The buyers haven’t made a purchase decision yet.
Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.
Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.
Truth: Of course this would be great! Open Houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular showing appointments as well.(Open Houses are a great tool, but really are only 1 of many options. Likewise, despite marketing, an Open House’s success is often very dependent on a home’s location, the communities’ traffic, & the proximity to New Home communities.)
Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.
Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their home and move on with their life/goals.
My take away - Like most things on TV, these shows are all about having some fun; so relax & enjoy. As a watcher of renovation shows, I fully understand that kitchen remodels take longer than 3-days; adding granite + new tile doesn’t really raise the value $25k; & no matter how easy it looks on TV, I will never be able to make a cute coffee table out of a reclaimed shipping pallet -– but I still enjoy watching them!
As we have previously reported, each quarter Freddie Mac releases their Home Price Index, tracking national & local statistics. One of the most compelling illustrations of how high values have risen can be found in the above map, reflecting overall state values as a percentage of their increase over Pre-2008 Peak Values. Texas' value, as a whole, ranks 3rd behind North Dakota & Colorado for their percent over Peak Values.
July Numbers from MetroTex for Frisco's home stats are below!
The take-away: - Price up from last year about 2%. - # of homes sold down about 9%. - # of homes listed for sale down
July 2016 •318 – Homes sold, down 9.4 percent from July 2015. •$383,500 – Median sales price for homes, 2.3 percent higher than July 2015. •$424,829 – Average sales price for homes, a 5.3 percent increase. •3.3 – Monthly housing inventory estimate. •36 – Average number of days homes spent on the market in July 2016. •853 – Active home listings on the market in July 2016.
Year-to-Date Market Snapshot •1823 – Homes sold, 0.9 percent lower than the same time frame in 2015. •$776,513,998 – Total dollar volume of sales in Frisco, a 4.4 percent increase over 2015. •$387,500 – Median sales price for homes, a 5.9 percent increase. •$425,954 – Average sales price for homes, a 5.3 percent increase. •41 – Average number of days homes spent on the market. •685 – Average monthly active home listings.
Have Questions about your community or your home? Please give me a call!
The National Association of Realtors (NAR) recently released the results of theirExisting Home Sales Report. Despite the fact that properties are selling faster than they have at any other time since July of 2013, existing home sales declined 3.3% from March.
NAR’s Chief Economist Lawrence Yun explained the main reason for the slow:
"April's setback is the result of lagging supply relative to demand and the upward pressure it's putting on prices.”
One major news organization actually used this headline about the decline:
Existing home sales fall 3.3%
They certainly haven’t cratered! April marked the second month in a row that the annual sales pace remained above the five million mark (5.04 million). Year-over-year sales have increased for seven consecutive months and are still 6.1% above a year ago.
Every month, SentriLock, LLC provides NAR Research with data on the number of homes shown to potential buyers. This data is referred to as ‘Foot Traffic’ and is a great predictor of future sales and buyer demand. In April, buyer demand remained at the same level experienced in March.
Why did sales go down?
Buyers who are ready and willing to make a purchase are entering a market where their dream house may not have been listed yet. They can’t find it! Or if they find it, it happens to catch the eye of other buyers and an ‘auction like environment’ begins.
"Housing inventory declined from last year and supply in many markets is very tight, which in turn is leading to bidding wars, faster price growth and properties selling at a quicker pace," says Yun. "To put it in perspective, roughly 40 percent of properties sold last month went at or above asking price, the highest since NAR began tracking this monthly data in December 2012." (emphasis added)
The median home price of existing homes sold in April was $219,400, which is 8.9% higher than last year, and marks the 38th consecutive month of year-over-year price gains.
Bottom Line
So how do you make sense of everything that’s going on in the housing market when there are so many conflicting headlines on the same report?
John Burns, real estate expert and CEO of John Burns Real Estate Consulting gives this advice:
“The bottom line is this: don't make decisions based on newspaper articles. Read the actual press release, including the methodology, and make sure the results jive with other data points and qualitative feedback you receive.”
If you are one of the many homeowners out there realizing that now may be the time to list your home for sale, or one of the many renters debating a purchase, sitting with a local real estate professional who takes the time to find out what’s really going on in the market, should be your first step!
More companies are deciding that North Texas is the place to be! Apple recently announced that it has awarded Finisar, an optical communication components manufacturer, $390 million from its Advanced Manufacturing Fund. Finisar is expected to create 500 high-skill jobs, including engineers, technicians and maintenance teams right here in North Texas.
