Real Estate Information Archive

a.  TX economics remain strong & the “attractiveness” of our cities remains high.

 

b.  Corporate relocations continue to be drawn to our area.

a.  Prices in most market areas are still seeing slight increases; however, the pace of increase has slowed dramatically &/or stabilized in almost every area. 

 

b.  For many months, sellers have been able to “ratchet” up their listing price as each home in the community has sold.  This strategy has proven to reach a limit.  We are now seeing large amounts of price reductions daily.  Likewise, there are an increasing number of homes that are having appraisal issues, where a lender’s independent valuation of a home is coming in less than the contracted sales price. 

 

c.  A strong pricing strategy remains among the most critical aspects of selling a home. 

a.  One of the primary drivers that have fueled real estate’s strong numbers over the past few years has been a low inventory environment.  The inventory in almost all price points and cities is on the rise.

 

We measure inventory in both total number & “month supply”.  Month supply is simply the time it would take to sell the existing inventory if new listings ceased coming on the market.

 

 I'll use Frisco as an example of this increase in inventory.  Frisco’s housing supply has increased every month since December 2016.  In fact, August 2017’s inventory was just under double from December 2016.  This is reflected in August as 1,094 homes listed with 320 homes selling for a 3.8 month supply.  This holds true for most of the surrounding cities as well. 

a.  As you can envision, when inventory increases, days on market also rise.  The increase of days on market often slightly lags the changes to “month supply”.

 

b.  It may be surprising, but the average days on market are as high as 90+ days in some price ranges, even in the most popular markets.

a.  When buyers have more choice, Price, Condition, & Location become key!

a.  Our listings that elect to utilize a smart pricing strategy often still see multiple offers & shorter days on market.  There is always a balance between Days on Market & Price.

b.  Expect to see elevated levels of price competition. Timely price adjustments increase timely closing probability & reduces time on market.

c.  Simply imagine you are purchase a new car.  There are 3x dealerships offering the model & features you want. 1x of the 3 dealerships is offering theirs’ for $5k less.  Most buyer’s are not going to make an offer or negotiate with the 2x at higher prices to see if they can make it work; they will simply go the lowest price dealership first & attempt to negotiate.  Should that fail buyers will move to the higher prices to negotiate.

a.  Higher relative seller/buyer ratios (month’s supply) reflect a more competitive market for sellers.

b.  Having a large number of showings relative to other similar properties without an offer (or with a lot of low offers) is a strong indication of overpricing.  The image below provides an overview of how showings, or lack thereof, can be viewed in terms of pricing strategies:

1.  Expanded our marketing team to include an in-house designer to ensure your home is well prepared & properly marketed.  If you think you need a refresher at this time, let us know and we will gladly arrange a time with our designer to come visit with you at your convenience. She is also reviewing your listing photos, marketing campaigns and sites to help improve wherever we can to gain more buyer interest. 

 2.  Conduct more frequent digital marketing reviews for your home, to ensure our listings continue to capture a larger share of interest from buyers.

3.  Expanded our Inside Sales Agent team to increase our ability to directly call agents & prospective buyers who have expressed interest in your home or previously toured your home.

4.  Increased our digital marketing campaigns to include banner ads& more direct to consumer marketing and re-targeting branding with your home. 

5.  Reverse prospecting (where we contact the agents that have clients searching for your “type” home.)

6.  Increase agent & broker tours and direct agent to agent marketing to better introduce and keep your home in front of the market.

7.  The introduction of Special Financing options available exclusively to our KW clients & our KW listings to assist with incentives to buyers and help you stand out!

The Christie Cannon Team | Keller Williams Frisco TX | www.christiecannon.com

4783 Preston Rd #300 Frisco TX

We are BEYOND thankful for all of our clients! We would not be here where we are without you.

As Featured on the KW.com Blog:

Relationships have formed the foundation for successful businesses for centuries, but how those relationships can benefit a business has evolved over time. Today, client relationships that result in referrals can fuel your growth and success both online and off.

Christie Cannon, a Keller Williams Luxury Homes International agent who specializes in Frisco and its surrounding communities north of Dallas, has put those referrals to work for her in a Texas-sized way.

“More than half of our business comes from referrals,” Cannon says. Through sourcing her business, Cannon finds that many new clients heard about her from a previous client.

Cannon’s results speak for themselves. Her team closed $112 million in sales in 2016, a 28 percent increase from the previous year. The results are particularly remarkable given the unexpected challenge they were presented.  

Cannon’s husband and team member, Kevin Cannon, was diagnosed with stage two breast cancer. He began aggressive chemotherapy, followed by a double mastectomy and 30 radiation treatments.  

“It was heartbreaking for us. We were unsure where the situation would take us,” says Christie. “Thankfully, Kevin is now fully recovered and back to working full time. The challenge really brought to light how strong our team is. Everyone rallied together to create the best year yet.” 

Upward momentum continues for Cannon and her team.  They currently have 65 active listings and 50 pending transactions, not to mention plans for a 20 percent increase in production this year. This projected growth undoubtedly will be aided by her strong referral program.

Cannon builds a strong referral program

“Reaching out to current, past and future clients is so important because they all have a referral to give,” she says. “The most important part of building a referral-based business is building strong business relationships with your clients along the way.”

In order to build those relationships, Cannon and her team have created a solid referral protocol for each and every one of her customers and clients. “Every person in our database is on an action plan of some kind. Each action plan is set up to cater to the specific needs of each contact. The activities in our action plans will vary, but they all include offering something of value to each person. Our contacts are the heart of our company, and we treat them as such.”

When the team receives a referral, the client is sent a handwritten thank-you card as well as a small gift. That strategy has paid dividends dating back to Cannon’s very first client in 2003.

“Ironically enough, one of my very first transactions was a small $48,000 home, and to this date, that client has completed five other transactions with me and is still referring business to me,” she says. “I started getting my systems in place early on, and the systems are what helped me get organized and get in touch to grow and foster relationships with my clients. They have helped us maintain a consistent year-over-year growth pattern and get to where we are now.”

The value of referrals

Now that Cannon and her team are part of KW Luxury International, she has discovered that those referrals are even more valuable to her success.

“Luxury home buyers and sellers are very seasoned,” Cannon says. “They rely heavily upon advice from people they trust. Keeping your name in front of the luxury market is important in maintaining a strong referral base.”

While clients are the first ones that referral strategies are typically aimed at, Cannon also works hard to earn referrals from her local real estate colleagues and peers. To that end, she is committed to participating in networking events with other agents in and around her area. The best method she has found for earning those referrals is an unyielding dedication to professionalism.

“We have had agents – even within our own area – refer business to us,” she says. “It is such an honor to get a referral from another colleague. It’s important to maintain a professional relationship with not only your clients but also with your colleagues, as you may work with them multiple times over.”

Keep clients first

For agents who are working to assemble a solid referral strategy, Cannon suggests keeping the client as your central focus.

“A big mistake I see in a lot of agents is making this business all about them,” she says. “While we want to brand ourselves and relate to our clients, it’s not about you. This business is about catering to the needs of our clients and offering them a service and skill they can’t get anywhere else.”

Lead generate, lead generate, lead generate

In order to increase the amount of referrals you receive, Cannon suggests going back to the basics. “The models and systems are there, so don’t skimp on your lead generation,” she says. “As part of your lead generation, you should be reaching out to your sphere and past clients every day. Put everyone you know into your CRM and get them set up on some type of action plan. Reach out to your contacts on a regular basis by sending handwritten notes, making phone calls and sending items of value to them. This is all part of an action plan.”

Cannon stresses that an action plan only works if you keep your clients’ needs in mind.

“If you’re sending something of value to your contacts, they have a reason to continue to receive information from you,” she says.

At the end of the day, Cannon credits the Keller Williams models and systems for her team’s impressive growth.

“It took me trying to invent my own models and systems several times over and failing before I realized how much Keller Williams has to offer,” she says. “We will continue to improve and streamline our systems as we grow and plan on attending Family Reunion and Mega Camp each year. The best is yet to come!”

Cannon’s story illustrates how past clients are one of the most reliable sources for leads, but it takes consistent follow-up with your database to ensure that you remain top-of-mind.

The Christie Cannon Team | Keller Williams Frisco TX | www.christiecannon.com

4783 Preston Rd #300 Frisco TX

The Christie Cannon Team was Named to the 2017 REAL Trends America’s Best Real Estate Agents List

The Christie Cannon Team was named one of America’s most productive sales teams 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. 

REAL Trends America’s Best Real Estate Agents ranks over 12,600 residential real estate professionals solely based on their excellence in real estate sales during calendar year 2016. 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,” says Steve Murray, publisher of REAL Trends America’s Best Real Estate Agents and president of REAL Trends.

To qualify for inclusion, an individual agent must have closed at least 50 transaction sides or $20 million in sales volume in 2016. For real estate agent teams, the minimum is 75 transaction sides or $30 million in closed sales volume. The individuals ranked in America’s Best Real Estate Agents had an average of 73 transaction sides and an average sales volume of almost $37 million. Teams ranked in America’s Best Real Estate Agents had an average of 144 sides and an average sales volume of almost $61 million. This ensures that only the best of the best are included on the prestigious list.

“The average residential real estate agent in the United States closed 8.6 transaction in 2016 and had less than $1.3 million in sales,” said Murray. “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.

The Christie Cannon Team | Keller Williams Frisco TX | www.christiecannon.com

4783 Preston Rd #300 Frisco TX

What should you as a Buyer under contract be aware of after the hail storm here in North Texas?

Christie Cannon | REALTOR
Keller Williams Frisco | The Christie Cannon Team
http://www.christiecannon.com/
469-951-9588
972-215-7747

4783 Preston Road #300, Frisco, TX 75034
469-951-9588

The award winning Real Estate Agents of The Christie Cannon Team with Keller Williams Frisco are here to serve your real estate needs.

Hi, I am Christie Cannon of the Christie Cannon Team at Keller Williams Realty.
I hope that this morning finds you safe & sound after the storms that hit North Texas yesterday evening! Given the chaotic weather events, damaging winds, & potential for large hail over the last 24 hours, I want to speak to about the next steps in the process. 
As a Buyer under-contract & moving towards closing, you may have questions about what effect last night’s storm may have on your closing process & your due diligence prior to purchase. I wanted to take a few minutes to let you know some actionable items & some concerns that you should be aware of as you prepare for your new home.
While a seller has a duty to disclose known defects, it is recommended that you don’t rely on this duty as your primary means of diligence. As such, we at the Christie Cannon Team recommend that you immediately have a conversation with your insurance company and look to have the roof on the home you are purchasing inspected by a reputable roofer, as a minimum level of due diligence.
The goal is to ensure that the roof you are purchasing is functioning properly & is insurable by your insurance carrier. In most cases, your insurance carrier will not be inspecting the roof until well after your purchase! That would not be the time to find deficiencies!
It is also possible, should you be financing the property, that your lender may require a “reassessment” from the appraiser. While this may be a necessary step for the mortgage process, an appraiser is not likely qualified to ensure the roof is properly insurable & functioning. 
While both steps have the potential to delay your closing; the steps are critical to ensuring that you are properly prepared for your purchase. Issues of insurability & weather claims are much more easily resolved & handled prior to closing. We always recommend that buyer not close until you are confident in your purchase.
Should you have questions or need assistance, please do not hesitate to reach out to us here at the Christie Cannon Team.

As a Seller here in North TX, the hail last night can certainly create some large concerns. In this video, I discuss some key things to keep in mind!

Christie Cannon | REALTOR
Keller Williams Frisco | The Christie Cannon Team
http://www.christiecannon.com/
469-951-9588
972-215-7747

4783 Preston Road #300, Frisco, TX 75034

The award winning Real Estate Agents of The Christie Cannon Team with Keller Williams Frisco are here to serve your real estate needs.

I hope that this morning finds you safe & sound after the crazy storms that hit North Texas yesterday evening! We have had some rough weather, high winds, & for many of us saw large hail in the last 24 hours.
One of the most common questions I get asked, is how does this affect my disclosure as a seller or even my closing process. I wanted to take a few minutes to discuss our recommendations at The Christie Cannon Team. 
In Texas, sellers have a duty to disclose known defects of a property. Even in the instances where a seller has already provided a written seller’s disclosure to a buyer, it is required that a seller disclose any new information that makes an earlier presentation misleading or untrue. In simple terms, a seller should present any new information to the buyer, and we recommend doing so in writing. Updating your Seller’s Disclosure or providing a written report is a great way to do so.
For a seller under contract, there are several key things to understand after a large weather event.
It is very likely that a buyer’s lender will require the roof/home be “reassessed” by the appraiser to assess the extent of any potential damage. Please be aware, this is may be a requirement for the buyer to get their financing.
Buyers typically will, and should, conduct a final walk-thru to ensure the home is in the condition they contracted & find acceptable. It is very likely, that a buyer after such a weather event, will want to be certain the roof is functioning properly and insurable. As such they will likely seek a roofer to examine the roof & should the roof not be in the original contracted state &/or fail to meet the lender’s underwriter’s criteria for an insurable roof; the buyer will likely seek you repair or file an insurance claim. 
As a seller, this affords you a few options. You can disclose any damage which occurred and wait for a buyer to act – through request or reports from their own roofer or you can take more proactive approach, & have your own insurance adjuster &/or a reputable roofer inspect your property. Taking this approach, you can typically feel confident in the efficacy of the findings & be better prepared for any action required of the results. But do be aware, any findings – especially those that are deficient – must be disclosed to the buyer.
These actions do have the potential to delay closing; however, the inconvenience of a closing delay is much less that have a later issue arise due to undisclosed damage or potential insurability issues after closing. 
Should you have any specific questions about your sale, disclosure, or the next steps – please call or email & we are happy to assist.

Looking at buying or selling?  Please let the award winning Christie Cannnon Team of Keller Williams Frisco share with your the experience & service that made them #1 with Keller Williams Realty in the North TX - New Mexico Region.

Please feel free to call with any questions!

Thank you,

Please call or email with any questions!

Christie Cannon
The Christie Cannon Team
Keller Williams Frisco TX
469-951-9588 - Direct
http://www.christiecannon.com/

4783 Preston Road #300, Frisco, TX 75034

#1 Keller Williams Agent in the North TX - New Mexico Region in 2016
Voted as one of the BEST Realtors in D Magazine for 2010 – 2016
Voted as a Five Star Professional 2012 -2017 in Texas Monthly Magazine
Named among Best Real Estate Agents in American by Real Trends Magazine
Named as one of the Top 250 Real Estate Teams in America as seen in The Wall Street Journal
Certified Luxury Home Marketing Specialist & Member KW Luxury Homes Division
Global Property Specialist
#1 Keller Williams Frisco Agent 2011-2016
#1 Keller Williams Luxury Agent in North TX

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

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