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SmartAssets.com's Top 10 Boomtowns in 2015

by Christie Cannon

Once again, Texas (and especially North TX) boasts strong standing in a natioanl "Top 10" list.  

Smartasset.com just published their list of 2015 top 10 Boomtowns, with Texas holding 5 of the top 10 spots!

Holding top honors for Texas, the list finds:

 

  1. Richardson
  2. McKinney
  3. Austin
  4. Frisco
  5. Odessa
The entire list can be found here, as well as their methodology!
 
 - Keller Willams Frisco - Christie Cannon - 469-951-9588
 

Real Estate News: 5 Real Estate Trends in 2016

by Christie Cannon

Realtor.com & the National Association of REALTORs just posted their predictions for the top 5 industry trends in 2016.

 

  • A Return to Normal for Real Estate

In the words of Skywalker, "it will bring balance to the force."  While sales will continue strong, most markets will see a return to the more modest gains that are reflected in a balanced (& more sustainable) market.

  • Generational Data Supports Strong Selling Season in 2016 
In 2015, Millennial buyers represented almost 1/3 of home purchases.  This trend is expected to continue in 2016; as well as an expected return of financially recovering Gen-Exers & Baby Boomers.  According to the NAR, Gen-X buyers will be entering their "prime earning" years, just as Baby Boomers are tradtionally seeking to down size &/or relocate for retirement. More predictive analysis for 2016 (several years out) can be found here!
 
  • Builders will Transition to More Affordable Housing
As balance returns to pre-existing home sales and credit availability improves for first-time buyers, builders will see more attractiveness in building products to fill these niches.  Likewise, with the increased capital in the market from 2015, the direction of growth is already trending to the "out-skirts" of traditional suburb areas where land prices are more affordable.
 
  • Interest Rate Rise Will Affect the Higher-Price Markets
The FED has already increased interest rates this past month.  Additional increases are expected in 2016, with mortgage rates predicted to rise up to 60 basis points. As the rate increases, affordability will drop.  In areas where the move-up buyer is a significant part of the market, even a small "affordability" drop can have significant affect.
 
  • Rents Will Continue Their Rise (in some areas meteorically)
In more than 85% of market areas, the average rent to income ratio already exceeds 30%.  Demand aside, increases in property taxes & tax valuations result in double digit rent growth as those cost are passed from landlord to tenant.
 
 
- Christie Cannon - Keller Williams Frisco TX
 

Real Estate News: November Home Sale Drops

by Christie Cannon

The National Association of REALTOR has recently published their latest report on existing homes sales for November (likewise, they revised their October numbers).  The most recent report Existing Home Sales offers that preowned home sales:

“…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…”   The report reflects that November was the slowest in 19th months for existing home sales.  This was displayed in a 10.5% decrease in month-over-month sales. 


While there are still many hypotheses for the reasons of the drop, many industry insiders are placing a large portion of the blame on real estate’s adjustment to the latest changes in mortgage lending laws.   With these adjustments, the industry has seen an overall increase in the amount of time it takes to close a traditional loan.

The numbers may seem miniscule on paper, the three day average increase reflects a whopping 15.7% of available banking days in November.  Traditionally, most homes close in the last 3-days of the month, as such even a 2-3 day average increase “pushes” closings into the following month. 

When we compare both written contract volume & anecdotal experience from the industry, most indications are that the sales are not lost.  December reporting will be critical to see if the decrease was simply due to delay, or if November's numbers are a foreshadowing of a deeper market shift.

Christie Cannon - Keller Williams Frisco TX

Santa Claus Possibly Moving to Frisco?

by Christie Cannon

Fannie Mae's 2016 Housing Projections

by Christie Cannon

Texas Real Estate at a Glance

by Christie Cannon

The Holidays - To List or Not to List?

by Christie Cannon

With the Holiday Season rapidly upon us, one question we often get asked is - To List or Not to List?  

This is often a difficult question to answer.  Year after year, many owners elect not to sell over the Holiday Season or the winter.  Even more sellers, who are already listed, choose to take their home off the market during the holidays.  While the inconveneince of having a "show ready home" can be high, there are several great reasons to sell during both the Holiday Season & the winter.

1. RELOCATION BUYERS! Often companies will compensate employees for trips to their destination city.  Too often, that single trip is not enough for a buyer to feel comfortable.  The Holidays provide many buyers the time off that they need to travel & tour homes.  LIkewise, companies are not concerned with the traditional seasonality of real estate or the school year, which often determines the prime buying season.

2. Buyers looking during the Holidays tend to be serious buyers.  While it is true the number of showings traditionally decreases during the Holiday Season, the "quality" of the showing is often higher.  Buyers searching during the Holiday Season are typically serious buyers.

3. Being out of "prime" buying season, as a seller you have more control of the showing schedule & times.

4. Homes show well when decoratorated for the season.

5. Competition tends to be much lower during the Holidays. Price is a reflection of demnd & inventory. 

Supply of Homes | Keeping Current Matters

6. Traditionally the market will see significant increases in inventory after the Holiday Season. Even builder inventory is carefully planned in the 3rd & 4th Quarter to ensure sufficient "spec" home inventory is ready as spring arrives.

Have additional questions, please feel free to give me a call - Christie Cannon, Keller Williams Frisco - 469-951-9588

New Frisco Community - Edgestone at Legacy

by Christie Cannon

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 releases Health of Housing Report

by Christie Cannon

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

by Christie Cannon

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

Displaying blog entries 141-150 of 201

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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