Displaying blog entries 21-30 of 120
WalletHub names Frisco TX in their top cities that have expanded rapidly in socioeconomic terms from 2008 to 2014.
Based on the National Association of REALTOR's latest September numbers, the pace of home sales has slowed; however, the year over year gains continue for the 11th month.
For the 6th month in a row, the gap between how homeowner & appraiser view value has widened according to Quicken Loan's Home Price Perception Index.
According to Quicken's Chief Economist Bob Walters: "Many homeowners around the country are seeing the national headlines about home value increases and they are optimistic about their equity increasing. While some areas are seeing the same level of home appreciation, or even more, there are also some areas that have slower home value increases. This can lead to homeowners and appraisers not quite seeing eye-to-eye.”
Even a few months ago we were seeing appraisal issues affect pending home sales. As Walters explains, this is in part due greater balance returning to home value appreciation. "Many homeowners around the country are seeing the national headlines about home value increases and they are optimistic about their equity increasing," said Quicken Loans Chief Economist Bob Walters. "While some areas are seeing the same level of home appreciation, or even more, there are also some areas that have slower home value increases. This can lead to homeowners and appraisers not quite seeing eye-to-eye."
BOTTOM LINE
In North TX, while home owners continue to enjoy record appreciation, real estate pros & home owners must remain cognizant of the subtle shifts in appreciation rates that are often masked in the market's excitement. Likewise, agents & owners truely need to be prepared to sell every home twice!
Have questions about your home's value or market conditions, please give a call
- Christie Cannon - 469-951-9588- Keller Williams Frisco
New Master-Planned community announced west of the Dallas North Tollway & just north of Legacy! This new Hines development is situated in the heart of West Frisco & is expected to boast some of the area's top builders - Huntington Homes, Shaddock Homes, Darling Homes, Coventry Homes & Village Builders. With approimately 311 acres, Edgestone at Legacy is currently planned for single-family residences.
Nationwide just released their 2015 Q2 report on the Health of US Housing & incase the conflict of numbers is not great enough.... they rank TX negatively in affordability! Several years of strong housing has started to reflect a drop in housing affordability in Dallas & North Texas. While overall Dallas-Irving-Plano continue to rank in the top 10 best performing markets, this is largely due to our otherwise strong economic indicators. The entire Q2 2015 report can be viewed here!
Once again data reflects continued strength in our North Texas real estate market – just this past week Wallet Hub released their 2015 Healthiest Housing Report.
WalletHub compared 14 metrics in 300 cities to rank the overall “health” of each market. To see their unique metrics, please click here.
|
Overall Rank |
City |
‘Real-Estate Market’ Rank |
‘Affordability & Economic Environment’ Rank |
|---|---|---|---|
| 1 | Frisco, TX | 3 | 2 |
| 2 | Allen, TX | 8 | 1 |
| 3 | Arvada, CO | 2 | 52 |
| 4 | Plano, TX | 6 | 29 |
| 5 | Sunnyvale, CA | 1 | 140 |
| 6 | Carrollton, TX | 11 | 16 |
| 7 | McKinney, TX | 21 | 4 |
| 8 | Cary, NC | 22 | 3 |
| 9 | Richardson, TX | 9 | 40 |
| 10 | Santa Clara, CA | 4 | 120 |
| 11 | Fort Collins, CO | 7 | 87 |
| 12 | Austin, TX | 28 | 5 |
| 13 | Boulder, CO | 5 | 139 |
| 14 | Centennial, CO | 15 | 61 |
| 15 | Bellevue, WA | 14 | 72 |
Sometimes a simple graphic goes a long way! This is based on average interest rates on a $200K mortgage (principal & interest only on 30yr fixed).
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:
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.
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.
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!
![Buyer Demand Exceeds Housing Supply [INFOGRAPHIC] | Keeping Current Matters](http://www.keepingcurrentmatters.com/wp-content/uploads/2015/05/EHS-APRIL-KCM.jpg)
Warren Sports Complex will be hosting a MOVIE & Picnic in the park from 7-11pm on June 27th. The movie will be Paddington. Admission is free & the event will offer bounce houses before the movie to try and burn off some energy before the showing. Bring blankets, chairs, picnic foods, snacks.... and bug-spray (it is still TX after all). More info can be found here!
Displaying blog entries 21-30 of 120
