Fannie Mae's 2016 Housing Projections
Monday, November 9, 2015
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Homeowners' Perception of Value - Outpacing Market?
Sunday, September 6, 2015
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
Nationwide releases Health of Housing Report
Friday, August 28, 2015
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!
2015's Healthiest Real Estate Markets - North TX Tops Ranks
Wednesday, August 26, 2015
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 |
Home Value Predictions for the Next 5-Years
Monday, August 24, 2015
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.
Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
The results of their latest survey
- Home values will appreciate by 4.1% in 2015.
- The cumulative appreciation will be 18.1% by 2019.
- That means the average annual appreciation will be 3.4% over the next 5 years.
- Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 10.5% by 2019.
Have questions about our local market - please feel free to give me a call - Christie Cannon - 469-951-9588
Lagging Appraisal Values
Friday, July 10, 2015
The fact that residential home prices are increasing substantially in most regions of the country is music to the ears of homeowners. However, if you are in the process of selling your home, make sure you realize the major challenge a hot real estate market creates.
Each house must be sold twice; once to a buyer and a second time to an appraiser who represents the bank that will grant the purchaser a mortgage to buy the home (unless it is an “all cash” purchase). In a real market with escalating prices, the second sale may be the more difficult. And a recent survey by Quicken Loans reveals that the gap between what a homeowner believes is the value of their home compared to an appraiser is widening.
This could lead to an increase in the percentage of real estate transactions being challenged by a ‘short’ appraisal (where the appraiser value is less than the contracted price of the home).
The Take Away
Whether you are a buyer or a seller, you must be prepared for this possibility as it may result in a renegotiation of the price of the home.
Housing Bubble Fears rise with Prices
Thursday, July 9, 2015
Sky-rocketing rises in real estate values have left many people worrying if we are in the middle of another housing bubble.
What is a housing bubble?
According to Jack M. Guttentag, Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania:
“A price bubble is a rise in price based on the expectation that the price will rise. Sooner or later something happens to erode confidence in continued price increases, at which point the bubble bursts and prices drop. What makes it a price bubble is that the cause of the price increase is an expectation that the price will increase, which sooner or later must reverse itself.”
In a recent article, he explained:
“My view is that we are a long way from another house price bubble. Home buyers, lenders, investors and regulators now understand that a nationwide decline in house prices is possible -- because we recently lived through one.”
Where are home prices today?
Though home values are continuing to appreciate, the acceleration of the increases has slowed to year-over-year numbers which reflect a healthy housing market. Here is a chart showing year-over-year appreciation since January of last year:
The Take Away
Nick Timiraos of the Wall Street Journal put it best in a recent tweet:
“Predictions of a new national home price bubble look unfounded for now, according to data.”
Existing Home Sales Stats for May 2015!
Friday, June 5, 2015
![Buyer Demand Exceeds Housing Supply [INFOGRAPHIC] | Keeping Current Matters](http://www.keepingcurrentmatters.com/wp-content/uploads/2015/05/EHS-APRIL-KCM.jpg)
Highlights:
- Inventory Levels remain less than a six month supply - indicated an unbalanced / seller's market
- For the last 38 straight months the market has seen gain in home prices
- The average time on market is the lowest since June 2013
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