Displaying blog entries 151-160 of 176
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Have Questions? - You can always give me a call at 469-951-9588 - Christie Cannon
One of the top financial ratings firms, Fitch Ratings, is blowing the whistle on Texas' hot housing market. Home sale prices in the Dallas-Fort Worth area are at record levels this year and Fitch Ratings warns that Texas home prices are about 11 percent overvalued. A lack of homes available for purchase coupled with North Texas' fast-growing economy has caused residential prices to jump by about 7 percent over the past year.
Economist Jim Gaines with the Real Estate Center at Texas A&M Unversity said he’s looked at Fitch’s new Texas housing report and doesn’t agree with the conclusions. “I’m not buying the overvalued card right now,” Gaines said. “Yes, prices have increased substantially for Texas markets – but only after being essentially flat for almost five years.
Despite its warning about the inflated prices, Fitch's report points out the overall strength of the state's economy. Texas has been leading the country in both job growth and population gains.
Texas home price gains have already cooled from late last year and early in 2014. But the year-over-year gains in residential prices in the Dallas-Fort Worth area is still running about twice the long-term average rate and are higher than nationwide increases.
During the recent recession when many metropolitan areas in California, Nevada and Florida lost 50 percent or more of their home values, Texas prices fell only slightly. And the housing markets in Dallas, Houston, Austin and San Antonio were some of the first in the country to recover. For more information on Fitch's findings click here.
469-951-9588
Stuck in the house with Cousin Eddie this week?.... perhaps a quick dash around town to see some of our areas best nods to the Griswolds.
And you do detect a hint of jealousy, as my father-in law "taught me everything I know about exterior illumiination".... which explains why our lights don't work.
Find a spot near you & make some memories.... suggestions are very welcome!
- Christie Cannon
Do you really need an agent to sell your house in today’s market? Here’s what Fannie Mae suggests to sellers on the Know Your Options section of their website:
“Select how you'll market and list the home (e.g., with a real estate agent or for sale by owner). There are pros and cons to each, but unless you are experienced at selling homes, it usually makes financial sense to get professional help—homes sold by agents typically sell at a higher price and spend less time on the market. An agent will also help you determine the best pricing for the house, they'll market the home, and they'll be your advocate throughout the process.”
If Fannie Mae says using an agent probably makes sense, perhaps you should interview an agent before putting your house up for sale. Full post here.
The latest version of our magazine is now available on our website! Check out all of our updated listings, real estate news and informational articles by going to www.ChristieCannon.com/Christie-Cannon-Magazine. 
New builds are on the rise nationally....and are up big in North Texas.
As builders continue to have record new home starts this year, costs and build times continue to rise. Almost half of Texas construction companies are facing the challenges of losing their workers to other, higher-paying industries. The shortage of contractors is creating rising costs and longer build times. In Texas, over 90 percent of construction firms reported that they faced challenges in finding workers and 48 percent reported that lost workers to other industries. Rising demand for oilfield workers has been a major culprit of luring away construction employees over the past few years. Read the full article here...
Project Warm Us is a great way for members of the community to give some much needed warmth to the homeless in the Dallas, TX area.
Donate your new or gently used items - coats, jackets, sweatshirts, sweaters, blankets, scarves, hats, gloves, shoes, socks(new only). Donations are being accepted between the hours of 8:00 am and 5:00 pm at the Frisco Square Management Office, 8874 Coleman Blvd., next door to Dimples Cupcake Factory. To learn more, click here...
The newest report shows that existing home sales are at their highest level for 2014! Check out the latest report from the National Association of Realtors.
Saturday, November 8, 2014 at 10 am.
Frisco will be hosting it's annual Community Parade. Attractions include Frisco Police and Fire vehicles, Frisco fire clowns, homecoming/forthcoming royalty of high schools, team mascots, representatives of Frisco’s professional sports teams, and floats and marchers from various civic and youth groups. Come out and enjoy everything the parade has to offer! More details can be found here.
I am often asked about the foreclosure market here in North Texas. A great tool in understanding how much change we have seen over the last 18-months in regards to foreclosures is CoreLogic's National Foreclosure Report. According to CoreLogic's May report, foreclosures are on 31 months of consecutive year-over-year decline. In simply terms, May 2014 represents a 37% decline compared to May 2013 - and 9.4% year-over-year decline. While it is true that TX is represented in the top 5 states of foreclosure volume in the last 12 months, we are also among the lowest by percentage of inventory. TX's foreclosure inventory represents .07% versus a national average of 1.7%.
Does this mean the "foreclosure" market is in permanent decline?.. I would be very hesitant to say such... many factors affect real estate, both in the short term & long term. And while in TX (a non-judicial foreclosure state) our inventory has moved quickly, there remains a "backlog" of inventory in many parts of the country. Likewise, in many areas, we can still see Mortgage Delinquency Rates (a "precursor" to foreclosures) remain higher than historical averages.
All that said, at least in the North TX market, a buyer offering that they "just want to look at foreclosures" may have (as we say in TX) some very slim pickins'.
- Christie Cannon
Displaying blog entries 151-160 of 176
