Real Estate Information Archive

When is the Best Time to Buy a Home?

Finance news website, The Nerd Wallet, recently published an article extolling the virtues of purchasing your home in January!  So how, how does January really stack up as the best month to buy a home in Dallas?  

Based on the latest REALTOR.com reporting, the Dallas, TX market while down 2 spots, remains number 4 in the nation’s Hottest Real Estate Markets. 

Based on REALTOR.com’s 2014 & 2015 combined data, buyer’s typically pay a premium in summer & enjoy a dip in prices in the winter.  Their data estimates up to a 2% historical premium.  In a recent article in the Dallas Business Journal, Ted Wilson of Residential Strategies, offered that the data suggests that while the “Best Time” may not be restricted to one month, a great deal of data does suggest the early spring is a great time to be looking.  So what are some of the reasons that support buyers star their hunting season sooner rather than later?

• Competition may be lower – According to NerdWallet, over the last 2-years, while the inventory may be down 21%, buyer traffic is down over 40%
• Prices are expected to rise, especially in new homes
• Mortgage rates are expected to rise – as interest rates rise, buying power decreases

For more information on Dallas Business Journal’s take on this subject, please click HERE.

CHRISTIE CANNON  REALTOR

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

Certified Luxury Home Marketing Specialist

#1 Keller Williams Agent 2011-2016

Top 100 Agents in the Nation / KW

4783 Preston Rd #300, Frisco, TX 75034

If you purchased a home this past year, now is the time to file your homestead exemption (if applicable).   Despite any mail you may receive from a service offering to do this for a fee, paying such a fee is not required.

So what does a Homestead exemption do? 

A homestead exemption removes part of your home’s value from taxation.  The Homestead Exemption also “caps” the taxable market value growth for your home!  It may also afford you certain legal protections from creditors & circumstances arising from the death of a spouse.

How does a homestead exemption work?

For most home owners, they seek an exemption for the possibility of lowering their taxable value.  Simply as an example, if a home were assessed by the county at $200,000, and the home owner received a $20,000 exemption – they would be taxed on $180,000 for their homestead.

Do all homes qualify for an exemption?

No, typically only your primary residence will qualify. The homeowner must be an individual (not a corporation or business entity) and have owned/occupied the home prior to January 1^st of the tax year.  For an Over-65 or Disabled exemption,  the Jan 1^st requirement is waived.

What homestead exemptions exist?

Any taxing unit, including a city, county, school, or special district, may offer an exemption of up to 20 percent of a home's value (but not less than $5,000). Additional Homestead Exemptions exist for “65 or older” &/or “Dis-abled”, Over-55 Surviving Spouse of a Person Who Received an over 65 Exemption, 100% Disabled Veteran, & Service Connected Disabled Veteran & Surviving Spouses.

What if my home has more than 1 owner?

You may still qualify if you are not the sole owner. For instance, if you own 50% of the property, & otherwise qualify, you may received 50% of the tax benefit.

When is the filing deadline?

BETWEEN JANUARY 1 & APRIL 30…..   and again, it is FREE!

OH NO!  I missed by deadline last year, did I miss my chance?

You may file up to one year from the date the taxes became delinquent!

What is the Homestead Cap?

Your homestead is protected from future appraisal tax-value increases in excess of 10% per year from the date of the last appraisal PLUS the value of any NEW improvements (like an addition, pool, etc).

How do I file?

Filing is done at your local county &/or county assessor’s office. 

Collin County click HERE

Denton County click HERE

Dallas County click HERE

Not sure you filed last year?

You can check in your local county’s tax rolls or simply give the county a call & they will be happy to confirm.

Want to know more?

Collin County & Denton County each have excellent FAQ’s on their websites!

Don’t see your county, check here!

https://www.comptroller.texas.gov/taxes/property-tax/county-directory/

Have additional questions, please let us know!

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2016

Top 50 Agents in the Nation / KW

4783 Preston Rd #300 Frisco TX 75034

As the first residents move in, Plano’s luxury multi-use development project at Legacy West. continues to announce some amazing shopping & restaurants.

With over 5,000 parking spaces, 425,000 SqFt of retail, hotels, apartments, residential luxury tower - the Windrose Tower, & the Villas at Legacy West with Britton Homes, Legacy West is on track to be the largest mixed use development in North Texas – as such, we anxiously have awaited to hear who will be joining the project!  When the March 2^nd Grand Opening occurs, what can we expect – see the below list for retailers & restaurants!  Click HERE for the latest Dallas News article on Legacy West's offerings!

Christie Cannon & The Christie Cannon Team of Keller Williams Frisco is proud to announce that we have been fortunate to partner with developer Texas North Residential to assist them in selling their most recent community – Provence | McKinney, TX!

Provence in McKinney, TX is a luxury townhome community boasting an easy living lifestyle, quality construction, rich designer details, and modern, elegant designs.  This small boutique community will offer approximately 80 townhomes, each able to tailored to a fit & finish of an owner’s style.  From delightfully appointed standard features, to the possibility of residential elevators, Provence strives to impress!

Nestled in West McKinney, a city named Money Magazine’s #1 Best Place to Live, this gorgeous community is centrally located with easy access to DFW’s two major airports, historic downtown McKinney and the Tollways.  Tree line streets, sculpture gardens, winding walking paths and an adjoining park create a tranquil setting.  Gabe Nesbit park and McKinney’s award winning APEX Fitness Center are only steps away!

We look forward to bringing you more news soon from this exciting community!

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2016

Top 50 Agents in the Nation / KW

4783 Preston Rd #300 Frisco TX 75034

One of Frisco's most anticipated luxury communities, has broken ground & is moving towards their grand opening!  Hines, a Houston based developer, has been developing one of Frisco’s most coveted tracks along Stonebrook & Legacy.

The expected list of builders for this community includes some of the areas most respected:

• Highland Homes
• Huntington Homes
• Sanders Custom Homes
• Darling Homes
• Shaddock Homes
• Ron Davis Custom Homes
• Village Builders
• Coventry Homes

This premium location boasts Frisco ISD’s Allen Elementary & private school Legacy Christian Academy to the East & Frisco ISD’s Reedy High school & B.F. Phillips Community Park to the West.  Edgestone at Legacy enjoys a greenbelt of mature trees lining the winding path of Stewart Creek. 

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2016

Top 50 Agents in the Nation / KW

4783 Preston Rd #300 Frisco TX 75034

Inadequate Inventory Driving Prices Up

The latest Existing Home Sales Report from the National Association of Realtors (NAR) revealed a direct correlation between a lack of inventory and rising prices. We are all familiar with the concept of supply and demand. As the demand for an item increases the supply of that same item goes down, driving prices up. Year-over-year inventory levels have dropped each of the last 18 months, as inventory now stands at a 4.0-month supply, well below the 6.0-month supply needed for a ‘normal’ market. The median price of homes sold in November (the latest data available) was $234,900, up 6.8% from last year and marking the 57 consecutive month with year-over-year gains.

NAR’s Chief Economist, Lawrence Yun had this to say:

"Existing housing supply at the beginning of the year was inadequate and is now even worse heading into 2017. Rental units are also seeing this shortage. As a result, both home prices and rents continue to far outstrip incomes in much of the country."

But there is good news about rising prices. More and more homeowners are recovering from a negative equity situation and learning that they are able to sell their homes and either move up to their dream home or downsize to a property that will better suit their needs. Look for these homes to come to market soon.

Buyer demand continues to outpace the supply of homes for sale. Listing your home in the winter attracts serious buyers who are looking to close the transaction quickly.

Tis the season for Chistmas lights & busted pipes!

While we may not experience the long cold winters of some of our more northern cousins, we have experienced long enough cold snaps to freeze pipes and damage homes.

Here are some helpful tips to help you prepare a home you may be selling (or any home) for the cold.

Every indication is yes! 

It appears that the owner posted his willingness to sell this home on Facebook.com – however, there was a catch, you need to move it - as the dirt it sits on isn’t included.

Located in a community where real estate investment & development is booming, Mr. Barrow put the Fort Worth home up for sale with the noble goal of preserving the historic 1904 home from the fate of many other “tear down” in the area.

As long-time residents of Frisco, we have seen several historic homes be moved in order to protect them from the record growth the city has experienced.  It is truly a labor of love & dedication.

Kudos to Mr Barrow for taking such an effort to help preserve an amazing piece of history.

You can read more about Mr. Wade Barrow’s amazing story & the sale of this historic home here or see Mr. Barrow’s interview at WFAA.com.

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Named among The Top 250 Real Estate Teams in nation, as seen in The Wall Street Journal

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2015

Top 50 KW agents world-wide

Dallas joins Portland and Seattle as the highest of the year-over-year appreciation in home values for the first 10 months on 2016, according to CaseLogic – Zillow.com’s parent company.

The city is also among seven cities whose current pre-owned single-family homes have surpassed their pre-recession peak.  According to Case-Shiller, since mid-2007, the national “peak”, DFW area homes are up a whopping 30%!

Tis the season when the agents of The Christie Cannon Team offers up our best nod to Clark W. Griswold with the best of Christmas & Holiday Lights in North TX.

While our father's may have "taught us everything we know about exterior illumination," we are not above some advice, so please help us make a great list with your comments & suggestions!

• Frisco Square - Drawing over 675,000 visitors seasonally, Frisco Square offers North TX largest choreographed light display!  Boasting snow machines, sled riding events, horse drawn carriage rides, light & music shows, outdoor ice skating & even a parachuting Santa - this place has it all!  Starts Nov 25th
• Highland Park & Highland Park Village - What can I say?  Gorgeous architecture complemented by professional Christmas lighting.  Spanning about 20 blocks, this is the perfect time to splurge on a horse drawn carriage ride.
• SMU's Annual Celebration of Lights -  Another long-time tradition & boasting over 100,000 lights. Starts Nov 28th
• Deerfield, Plano - Starting (officially) on December 1st, this quintessential Plano neighborhood is jammed packed with gorgeous home competing for the best, funniest, & most traditional displays.  Check out their website for best routes, carriage ride info, & even segway tours!
• Prairie Lights - Growing larger each year, this Grand Prairie display is located in Lynn Creek Park and has become a destination in its own right.  Offering a 2-mile path of lights, a laser light display, holiday village, & more.  Be sure to check out their website as there are costs for this one!
• Interlochen in Arlington - A North TX original, this community has been wowing light viewers for over 40-years!
• Tour of Lights in Farmers Branch - over 500,00 twinkle lights will delight.  This is any easy one for those who like to stay in the car.
• Vitruvian Lights in Addison - Located in Vitruvian park, this one excites with food trucks, FREE photos with Santa & Reindeer, Holiday Village, & Free Concerts in the park!
• Texas Motor Speedway - Supporting Toys for Tots, this huge display boasts a drive-thru display & Santa's Village.  Be sure to check out the website for pricing!
• ICE & the Gaylord Texan Resort - Ice skating, gingerbread house building, sled riding, Santa photos, Holiday village, light displays, 2+ million pounds of ice, what do they not have?
• The Pharrs in Farmers Branch - Located at 14535 Southern Pines Cove, this family has been celebrating Christmas in a big way & share their joy from their own front lawn!
• The Trains at North Park - OK - two warning are required, they are not technically lights... but I still feel nostalgia for making the trip to the city to watch the trains at Christmas.  The second warning, watch out for the shopping at this one!
• Dallas Children's Holiday Parade - Again, not technically lights, but come-on, its a parade - what Grinch doesn't like a parade?  This one has been going on since 1987 & frankly doesn't get its due!
• The Krampus Walk - Hey, it can't all be about the kiddo's.  This what happens when you have a much "hipper" brother & sister-in-law who are not in "the 'burbs" - you learn about the Krampus pub crawl... I mean "walk" through Deep Ellum.
• Christmas in the Stockyards in Fort Worth - Hey, its TX - we need a Christmas Cattle Drive to go along with our caroling & the Stockyards is the place to see it.  On December 12 the Snowball Express will be welcomed at the Stockyards with the Walk of Gratitude.  For those not in the know - the Snowball Express is a charity that supports & honors the children of men & women who have fallen in service to our great nation.

Have some ideas & comments that will help our list?  We would love to hear from you! 

Thank you & we wish you a very Merry Christmas & Happy Holiday Season!

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Named among the Top 250 Real Estate Teams in the Nation, as seen The Wall Street Journal

Certified Luxury Home Marketing Specialist

Global Property Specialist - Marketing with a Gloabal Reach

#1 Keller Williams Agent 2011-2015

Top 50 Agents with KW Realty International