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Home Value Predictions for the Next 5-Years

by Christie Cannon

Home Values: Where Are They Headed in the Next 5 Years? | Keeping Current Matters

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

Prairie View in Frisco TX - New Community Coming this Fall

by Christie Cannon

Coming this fall to Frisco TX - another great community!

Prairie View boasts amazing amenities (beach entry pool, club house, hike & bike trails, splash park & more), award winning Prosper ISD, a great Frisco location, & some of DFW's best builder - Highland Homes, American Legend Homes, & David Weekley Homes!

www.prairieviewcommunity.com

 

Lagging Appraisal Values

by Christie Cannon

The Impact of Rising Prices on Home Appraisals | Keeping Current Matters

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.

Appraisal vs. Homeowner Value | Keeping Current Matters

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

by Christie Cannon

What is a Housing Bubble? Is One Forming? | Keeping Current Matters

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:

Case Shiller Price Changes | Keeping Current Matters

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.”


Event - Park-A-Palooza - Movies in the Park

by Christie Cannon

Warren Sports Complex will be hosting a MOVIE & Picnic in the park from 7-11pm on June 27th. The movie will be Paddington.  Admission is free & the event will offer bounce houses before the movie to try and burn off some energy before the showing.  Bring blankets, chairs, picnic foods, snacks.... and bug-spray (it is still TX after all).  More info can be found here!

EVENT - Frisco's Dive-in Movies (You read that right)

by Christie Cannon

So it may not be real estate related - but that doesn't make it any less awesome!

Frisco's Outdoor Aquatic Center will be sponsoring a DIVE-in movie event in June, July, & August.  Tickets went on sale last week. 

Tickets are $8 per person; children under 2 are free. Buy Tickers here! The Movies currently sheduled are:

Friday, June 19, 2015 - Dolphin Tale 2

Friday, July 17, 2015 - Big Hero 6

Friday, Aug. 17, 2015 - LEGO Movie

Frisco & Dallas Business Journal's - Corridors of Opportunity

by Christie Cannon

Just in case you missed it, Dallas Business Journal, Frisco EDC, & Frisco ISD had a huge event in conjuction with The Star in Frisco, The Gate, Frisco Station, & Wade Park to discuss and present the opportunities in Frisco's $5 Billion Mile.

You can find the full presentation here - It is a great opportunity to see why so many investors are looking toward frisco & to better understand the growth of our city!

Just incase you are not up to date on the #5BMile in Frisco, here is aquick primer:


The Best Suburbs in Texas - according to Niche Rankings

by Christie Cannon

Niche.com just released their Best Places list for 2015.  Included in these ranks is the Best Suburbs List for Texas.  Not surprisingly North Texas secured 6 of the top 10 spots!  Collin County alone has 4 of the top 10 spots!

  1. Rollingwood  (Travis Co)
  2. University Park  (Dallas Co)
  3. Murphy  (Collin Co)
  4. Allen  (Collin Co)
  5. Lakeway  (Travis Co)
  6. Alamo Heights  (Bexar Co)
  7. Highland Park  (Dallas Co)
  8. Frisco  (Collin Co)
  9. Terrell Hills  (Bexar Co)
  10. McKinney  (Collin Co)
The full list can be found here.  Their methodology & assessment criteria can be found here!

How Do Our Market Values Stack Up?

by Christie Cannon

The long time buzz appears to have come true... Frisco's own Brinkmann Ranch (the original Southfork Ranch from the Dallas TV show) has sold off another 330+ acres of their prime real estate.  It appears that Landon Homes (most recently of Richwoods, Frisco fame) may be looking to develop another gated community here in East Frisco.  As one of the last large land "hold-outs" here in Frisco it will be shocking to many to see another part of this icon finally in the hands of developers.  With current low inventory levels, the continued sharp rise in land prices, and the expansion of Main st (east of Preston) it was only a matter of time. While this isn't the first parcel Brinkmann has sold, nor is it the iconic corner property (part of the original, smaller ranch) at Main & Preston - it is still an interesting development bound to capture the interest of many Frisco residents.  

For those who may be short on their Frisco TX history, or the history of the Brinkmann Ranch - it is owned by Baxter Brinkmann, the founder, owner & CEO of Brinkmann Corporation (grills, outdoor recreational equipment, & more). The Ranch is a true working ranch and had held well over 5500 acres. The ranch runs a Black Angus & Longhorn cattle operation, as well as breeding program which has garned world recognition & offered multiple award winning horses.   Prior to Brinkmann's ownership, the ranch was know as the Cloyce Box Ranch (Box Ranch).  To the general US population, the Cloyce Box Ranch became know as "Southfork" in the original season of Dallas.  After the first production season, the show was moved (at the Box family's request) off the property, where it settled to the west in Parker at the now more recognized Southfork location (previously called Duncan Acres).  The Cloyce Box ranch became not only an icon in Frisco, but became a symbol of the "bigger in Texas" attitude that the nation came to assume of a Dallas cattleman. The site offered the perfect setting for local & national events.  The Ranch (under both Brinkmann & Box ownership) hosted the famous Cattle Baron's Ball on several occasions.  Cloyce Box, a former NFL player turned oil-man & entrepreneur, was as interesting a character as the ranch itself.  Cloyce's son Doug Box wrote a very well regarded book, "Cutter Frisco", which chronicled life growing up on the ranch.  Tragically, in 1987 the original & grand home (storied to have built in the 1940's to replicate Scarlett O'Hara's plantation home) caught fire & burned down - you can watch news reel footage on the internet about the tragedy. Sadly, Mr.Cloyce Box passed away prior to being able to reconstruct the home (hence the structure you still see standing as a frame today).  Amazingly, the original staircase of the house survived the fire & can be found, along with an amazing exhibit, at the Frisco Heritage Museum.  

Moving forward it will be interesting to see how the large remaining tracts are treated.  Long has been an expressed desire to see a large corporate campus, but with the competing interest of rising home prices & land values - only Mr. Brinkmann & the future buyer may know for sure!

One thing is for sure, the "original Dallas" is (or perhaps soon to be "was") truly a Frisco original.

- Have some history to add? Have some history to correct? - We are happy to hear from you.  - Kevin Cannon - 214-714-4032 

Displaying blog entries 151-160 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