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Your Guide to the Best Christmas Light Displays in DFW

Monday, December 4, 2017
by Christie Cannon

The DFW area literally lights up and twinkles as the holidays draw near.  Everywhere from Dallas to Frisco to the Ft. Worth Stockyards light up in spectacular displays.  With looks of excitement on children's faces, the sound of carolers singing familiar tunes, the taste of sweet holiday favorites and the smell of Christmas pine flooding the area, you can't help but get into the holiday spirit.  We have compiled a list of our favorite spots to view holiday lights in the DFW area.  Make the rounds and find your family's next holiday tradition!

  •         Frisco Square - Drawing over 750,000 visitors annually, Frisco Square offers North TX largest choreographed light display!  Boasting snow flurries every 15 minutes, ice skating, inner tubing snow slide, horse drawn carriage rides, light & music shows, trackless train rides & even a parachuting Santa - this place has it all!  Going on now through Dec 31st!
  •         Deerfield, Plano - Running from December 1st - 30th, this quintessential Plano neighborhood is jammed packed with gorgeous homes competing for the best, funniest & most traditional displays.  Check out their website for best routes & carriage ride info!
  •        Vitruvian Lights in Addison - Wander through Vitruvian Park’s 12 Acres and view over 550 illuminated trees wrapped in 1.5 million sparkling LED lights.  Enjoy free live music in the park, food trucks & free pictures with Santa!     
  •         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.
  •         Enchant Christmas - A world of Christmas wonder awaits you in Arlington at Globe Life Park! Surrounded by millions of dazzling lights, experience the world’s largest Christmas light maze, ice skating, Santa’s palace, live entertainment & a Christmas marketplace.
  •         12 Days of Christmas - The Dallas Arboretum plays host to this elaborate exhibition featuring 25ft Victorian style gazebos filled with costumed characters, whimsical animals & music made famous the beloved Christmas carol.
  •         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 snow maze, holiday lighted walk-through forest, holiday village, & more.  Be sure to check out their website as there are costs for this one!
  •        Interlochen in Arlington - This year marks the 42nd Anniversary of one of the largest drive-thru Christmas light displays in North TX.
  •        Tour of Lights in Farmers Branch - A drive thru animated display of over 500,000 twinkling lights. Located in the Farmers Branch Historical park with a variety of different scenes & themes.
  •        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?

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!

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Every North TX Home Must Be Sold TWICE!

Monday, November 27, 2017
by Christie Cannon

Every Home must be Sold Twice!

Homeowners: Your House Must Be Sold TWICE | MyKCM

In today’s housing market, where supply has been low and demand high, home values have increased 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.  This is a topic that you may have seen us discuss previously - Appraisals & Why Every Home Must be Sold Twice.

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

Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, and an appraiser’s evaluation of that same home.

Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge:

“Based on the HPPI, it appears homeowners in the markets where prices are rising faster than the national average – like Denver, Seattle and San Francisco – are continuing to underestimate just how quickly home values are rising, so the average appraisal is higher than homeowner estimate.

On the inverse of that, homeowners in areas where the values aren’t rising as fast may think they are rising faster than they are, leading to the appraisal lagging the estimate.”

The chart below illustrates the changes in home price estimates over the last 12 months.

Homeowners: Your House Must Be Sold TWICE | MyKCM

Every house on the market must 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 obstacles that may arise.

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Mortgages Getting Easy Again? North Dallas Real Estate

Friday, November 24, 2017
by Christie Cannon

Too Easy to Get a Mortgage?  Is This the Start of a New Bubble?

Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | MyKCM

There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year:

  • More buyers are putting less than 20% down to purchase a home
  • The average credit score on closed mortgages is lower
  • More low-down-payment programs have been introduced

This has some people worrying that we are returning to the lax lending standards which led to the boom and bust that real estate experienced ten years ago. Let’s alleviate some of that concern.

The graph below shows the MCAI going back to the boom years of 2004-2005. The higher the graph line, the easier it was to get a mortgage.

Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | MyKCM

As you can see, lending standards were much more lenient from 2004 to 2007. Though it has gradually become easier to get a mortgage since 2011, we are nowhere near the lenient standards during the boom.

The Urban Institute also publishes a Home Credit Availability Index (HCAI). According to the Institute, the HCAI:

“Measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates … it is easier to get a loan.”

Here is a graph showing their findings:

Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | MyKCM

Again, today’s lending standards are nowhere near the levels of the boom years. As a matter of fact, they are more stringent than they were even before the boom.

Bottom Line

It is getting easier to gain financing for a home purchase. However, we are not seeing the irresponsible lending that caused the housing crisis.

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1468 Echols Dr Frisco TX | Just Reduced!

Sunday, November 19, 2017
by Christie Cannon

Exceptional custom-built Toll Brothers dream home in sought after Phillips Creek Ranch! Luxurious upgrades throughout! Rich handscraped hardwoods, elegant lighting, dramatic architecture & grand entry designed to impress. Formal dining & executive study. Chef’s Dream massive island kitchen boasts professional grade appliances, stone counters, double ovens & wine fridge. Family great room with surround sound & towering windows. Private master suite & stunning spa bath. 2nd floor enjoys game room & huge media with 7.1 surround sound. 5th bedroom with ensuite bath or second master. Relax on the pergola covered patio overlooking the oversized backyard-perfect for future pool, pets & play! Amazing location & neighborhood amenities! Nestled on a gorgeous oversized lot in the award winning community of Phillips Creek Ranch, featuring more than 100 acres of green space, lakes, an extensive creek system, trails, parks and premier amenities, you will find this stunning 5-bedroom home. Enjoy relaxing evenings on the pergola covered patio overlooking the oversized backyard-perfect for future pool, pets & play! Located in highly desired West Frisco, with easy access to award winning schools, shopping, dining & entertainment.

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Considering Selling your North Texas Home this Holiday Season?

Wednesday, November 15, 2017
by Christie Cannon
7 Reasons to List Your Home This Holiday Season | MyKCM

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays.

Here are seven great reasons not to wait:

  1. Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible.
  2. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.
  3. You can restrict the showings on your home to the times you want it shown. You will remain in control.
  4. Homes show better when decorated for the holidays.
  5. There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year:

7 Reasons to List Your Home This Holiday Season | MyKCM

  1. The desire to own a home doesn’t stop when the holidays come. Buyers who were unable to find their dream home during the busy spring and summer months are still searching!
  2. The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will continue to surge reaching new heights in 2018, which will lessen the demand for your house.

Waiting until after the holidays to sell your home probably doesn’t make sense.

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Luxury Home Buying in Frisco & North Texas

Friday, November 10, 2017
by Christie Cannon

Looking to Make a Move Up to a Luxury Home? Now maybe the Time!

Moving-Up to a Luxury Home? Now’s the Time! | MyKCM

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.

The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.

The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:

“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”

The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.

 

For more information, please contact us at 469-951-9588

 

Christie Cannon

The Christie Cannon Team

Keller Williams Frisco TX

469-951-9588

www.ChristieCannon.com

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Inventory v/s Demand Creates Luxurious Opportunity for Buyers

Wednesday, November 8, 2017
by Christie Cannon

Shifting Inventory in North TX Creates Opportunity.

A Tale of Two Markets: A 6-Month Update | MyKCM

Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two markets.

In the starter and trade-up home categories, there were significantly more buyers than there were homes for sale, causing a seller’s market. In the premium, or luxury, home categories, the opposite was true as there was a surplus of these homes compared to the buyers that were out searching for their dream homes, which created a buyer’s market.

According to the National Association of Realtors latest Existing Home Sales Report, the inventory of existing homes for sale in today’s market is at a 4.2-month supply. Inventory is now 6.5% lower than this time last year, marking the 27th consecutive month of year-over-year decreases.

Looking at the latest report from Trulia, we can see that not much has changed, and in fact, recent natural disasters across the country have made inventory conditions even more dire.

Trulia’s market mismatch score measures the search interest of buyers against the category of homes that are available on the market. For example: “if 60% of buyers are searching for starter homes but only 40% of listings are starter homes, [the] market mismatch score for starter homes would be 20.”

The results of their latest analysis are detailed in the chart below.

A Tale of Two Markets: A 6-Month Update | MyKCM

Nationally, buyers are searching for starter and trade-up homes and are coming up short with the listings available, which is leading to a highly competitive seller’s market in these categories.

Premium homebuyers, on the other hand, have the best chance of less competition and more inventory of listings in their price range with a 14.7-point surplus, which is creating more of a buyer’s market.

Real estate is local. If you are thinking about buying OR selling this fall, contact us to discuss the exact market conditions in your specific area.

 

Christie Cannon

The Christie Cannon Team

Keller Williams Frisco TX

469-951-9588

www.ChristieCannon.com

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Thinking About Buying in North Texas | Know your Credit Score!

Monday, November 6, 2017
by Christie Cannon

Considering Buying? Learn Your Credit Score!

Thinking About Buying? Know Your Credit Score | MyKCM

Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process.

Make sure all the information listed on your report is accurate and work to correct any mistakes. The higher your credit score, the more likely you will be to receive a better interest rate for your mortgage, which will translate into more ‘home for your money.'

Many potential buyers believe that they need a 750 FICO® Score or higher to be able to purchase a home. The truth is that according to Ellie Mae’s Origination Report, over 53% of loans were approved with a FICO® score under 750 last month!

Here are some tips for improving your credit score:

  • Make payments, including rent, credit cards, and car loans, on time.
  • Keep your spending to no more than 30% of your limit on credit cards.
  • Pay down high-balance credit cards to lower balances, and consider balance transfers to free up credit.
  • Check for errors on your credit report and work toward fixing them.
  • Shop for mortgage rates within a 30-day period — too many spread-out inquiries can lower your score.
  • Work with a credit counselor or a lender to improve your score.

Once you know your score, your next step will be finding a lender and getting pre-approved for a mortgage. Doing this will ensure that you know your budget before you start looking for your dream home.

 

If you are looking some great resources in finding a local lender to assist you, please feel free to give us a call!

 

Christie Cannon

REALTOR

The Christie Cannon Team

Keller Williams Frisco

469-951-9588

www.christiecannon.com

 

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Concerts in The Courtyard at The Shops at Willow Bend Plano

Friday, October 6, 2017
by Christie Cannon

Once again The Christie Cannon Team is thrilled to be a sponsor of the 2017 Concerts in The Courtyard at The Shops at Willow Bend in Plano TX!

Concerts in the Courtyard is held EVERY Friday in October from 6:30pm to 8:30pm in the Crate & Barrel Courtyard!  Each week features different bands & amazing food. 

Please join us for this amazing party & be sure to stop by our booth for special drawings & surprises! 

Feel free to text or call 469-951-9588 with any questions!

 

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"Shift Happens"

Saturday, September 30, 2017
by Christie Cannon
September 26, 2017
 
In real estate, like life, change is the only constant. The first thing I want you to be aware of is that “shift happens.”  Shift isn’t a bad word. It is simply a change in the trends we are seeing the market.  Reviewing these changes helps us determine reasonable expectations & where to focus effort to best assist you with the sale of your home.
 
This year we believe that we are seeing the market shifting beyond the seasonal fall/winter cycle.  We, like many industry experts, believe we are seeing a return to greater balance in the real estate market.  It's still a Seller's market though - the graph below shows where the sellers market, neutral market and buyers market begin to change.  A seller market means we will still see some appreciation in our home prices.
 
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What trends are we are seeing in the market today:
 
1.  Again, the sky isn’t falling.  We are discussing a slight change, not a panic.  That means a little longer time on market and we need to pay more attention to ensuring your home is priced right and not too high as the consumer will not react as favorably to the higher prices when there's more to choose from.
a.  TX economics remain strong & the “attractiveness” of our cities remains high.
 
b.  Corporate relocations continue to be drawn to our area.
2.  Prices remain stable. 
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. 
3.  Inventory is increasing & in some areas increasing quickly.
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. 
4.  Days on market are increasing, and houses are still selling.
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.
5.  Buyers have more choices.  This is a critical take away! 
a.  When buyers have more choice, Price, Condition, & Location become key!
 How do we prepare for this “shift”?
 
1.  Strong pricing strategy remains among the most critical aspects of selling a home in an environment where buyers have choice.
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.
2.  Pay attention to changes in Showing Traffic relative to competition.
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:
Related image
 
 
What are some of the things The Christie Cannon Team of KW Frisco has done to be ahead of these challenges?
 
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!
 
My goal is to arm you with the best information so you can be prepared to make informed decisions about getting your home sold.
Looking for more info?  We are always happy to help.  Remember, we review each any every home we have on the market regularly & consistently to help you get SOLD!!  
 
Written by Christie and Kevin Cannon / Keller Williams Realty / no unauthorized use or copy permitted. www.christiecannon.com | 972.215.7747
 
The Christie Cannon Team | Keller Williams Frisco TX | 4783 Preston Rd #300
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Christie Cannon
Keller Williams Realty
5933 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 972-215-7748
Send an Email
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com

 

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