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Low Inventory Continues to Drive Real Estate Prices

by Christie Cannon

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.



Winter is Coming! Cold Weather Tips for Home Sellers

by Christie Cannon

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.

Did a Fort Worth Home Really Sell for $1?

by Christie Cannon

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

 

 


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

 

 


Frisco ISD Proposes Rezoning for 2017 - 2018

by Christie Cannon

Frisco TX | Keller Williams Frisco TX | Christie Cannon | 469-951-9588

This past Monday, the Frisco ISD school board proposed the 2016-17 attendance zone changes. Earlier this year, the voters in Frisco ISD voted 58% against for a proposed 13-cent property tax increase.  As a result of the unexpected outcome, Frisco ISD proposed a reduced budget for 2017-18.  Included in this proposal was the delayed opening on multiple new schools.  As a result of these delays, the Frisco ISD proposed Monday a rezoning for a few hundred Frisco ISD students.

The families of students are expected to be contacted by Frisco ISD and will be given an opportunity to provide their input by December 12th.  The school board's final decision is expected to be reached at a final vote on Jan 17th. 

The latest information, FAQ's, & details on Frisco ISD's zoning can be found at www.friscoisd.org/departments/attendance-zones/rezoning

Home Appreciation - Yesterday, Today & Tomorrow

by Christie Cannon

CoreLogic released their most current Home Price Index last week. In the report, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month and projected over the next twelve months.

Here are state maps for each category: 

The Past – home appreciation over the last 12 months

The Past, Present & Future of Home Prices | MyKCM

The Present – home appreciation over the last month

The Past, Present & Future of Home Prices | MyKCM

The Future – home appreciation projected over the next 12 months

The Past, Present & Future of Home Prices | MyKCM

Homes across the country are appreciating at different rates. If you plan on relocating to another state and are waiting for your home to appreciate more, you need to know that the home you will buy in another state may be appreciating even faster.

 

 

 

 

 

Appraisers v/s Homeowners Battle On Values

by Christie Cannon

Appraisers & Homeowners Do Not Always See Eye-To-Eye!

Appraisers & Homeowners Don’t See Eye-To-Eye on Values | MyKCM

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the selling price when performing the appraisal for the bank.

Every month, Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation in their Home Price Perception Index (HPPI). Here is a chart showing that difference for each of the last 12 months.

Appraisers & Homeowners Don’t See Eye-To-Eye on Values | MyKCM

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this, and any other obstacle that may arise.

 

 

 

Blaze of Glory this week at Willow Bend in Plano

by Christie Cannon

Come & join us this Friday for Blaze of Glory at this week's Concerts in the Courtyard at The Shops at Willow Bend in Plano!

The Christie Cannon Team will have a face painter for the kids (or those of us a kid at heart).

Should be another great concert with an awesome band!

 

Blaze of Glory, Bon Jovi Tribute Band, is an incredible almost uncanny reproduction of a live Bon Jovi concert!

In fact they are so true to the actual artist, they were selected to appear on AXS TV’s nationwide live broadcast World’s Greatest Tribute Bands over every other Bon Jovi tribute band in North America, followed by headlining the California State Fair and even going international by playing the Miller Light Experience in San Pedro Sula Honduras!

 

We hope to see you there this Friday October 14th starting at 6:30pm!

 



Where are the Foreclosures?

by Christie Cannon

Recently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market.

CoreLogic, in their most recent National Foreclosure Report, reported that foreclosure inventory has decreased by 23.2% since this time last year. The report also showed that foreclosure inventory has decreased in 49 of the 50 states and that 45 states have posted a year-over-year, double-digit decline (see chart below).

Other findings in the report:

  • The Seriously Delinquent Rate (homeowners more than 90 days behind in their mortgage payment) is 3.1% which is the lowest level since November 2007
  • The Foreclosure Rate is 1.1% which is also the lowest level since November 2007
  • This was the 53rd consecutive month that showed a decline in the Foreclosure Rate

Though foreclosures do remain in the market, the number is dramatically decreasing. The fact that mortgage delinquency rates are also decreasing means the worst of the foreclosure crisis is in the rearview mirror.

Looking for information specific to the North Texas Real Estate Market?  Please give us a call,

  

CHRISTIE CANNON  REALTOR

The Christie Cannon Team

Keller Williams Frisco

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

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

Certified Luxury Home Marketing Specialist

#1 Keller Williams Agent 2011-2015

Top 100 Agents in the Nation / KW

Dallas North Tollway Expansion Continues!

by Christie Cannon

New lanes being added to the Dallas North Tollway!  Happiness abounds despite the growing pains as the Dallas North Tollways continues their ongoing expansion efforts!

For more on the latest efforts, please see below!

 

For more information on North Texas Real Estate, please give us a call.

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

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

Certified Luxury Home Marketing Specialist

#1 Keller Williams Agent 2011-2015

Top 100 Agents in the Nation / KW

Displaying blog entries 51-60 of 70

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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