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Christie Dishes on the Market, Home Values & More!

by Christie Cannon

Christie Dishes on the Market, Home Values & More!

 

Check out Christie on Good Morning Texas! Christie discusses what's going on in the housing market, how to check your home value and more! 

Also, don't miss her on The American Dream! She talks about how to file for your Homestead Exemption, updating your homeowner's insurance policy & getting up-to-date market values for your home.

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Excited About Buying A Home This Year? Here’s What to Watch

by Christie Cannon

Excited About Buying A Home This Year? Here’s What to Watch

Excited About Buying A Home This Year? Here's What to Watch | MyKCM

As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory.

Interest Rates

Mortgage interest rates had been on the rise for much of 2018, but they made a welcome reversal at the end of the year. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates climbed to 4.94% in November before falling to 4.62% for a 30-year fixed rate mortgage last week. Despite the recent drop, interest rates are projected to reach 5% in 2019.

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford to buy will decrease if you plan to stay within a certain monthly housing budget.

The chart below shows the impact that rising interest rates would have if you planned to purchase a $400,000 home while keeping your principal and interest payments between $2,020-$2,050 a month.

Excited About Buying A Home This Year? Here's What to Watch | MyKCM

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000).

Inventory

A ‘normal’ real estate market requires there to be a 6-month supply of homes for sale in order for prices to increase only with inflation. According to the National Association of Realtors (NAR), listing inventory is currently at a 3.9-month supply (still well below the 6-months needed), which has put upward pressure on home prices. Home prices have increased year-over-year for the last 81 straight months.

The inventory of homes for sale in the real estate market had been on a steady decline and experienced year-over-year drops for 36 straight months (from July 2015 to May 2018), but we are starting to see a shift in inventory over the last six months.

The chart below shows the change in housing supply over the last 12 months compared to the previous 12 months. As you can see, since June, inventory levels have started to increase as compared to the same time last year.

Excited About Buying A Home This Year? Here's What to Watch | MyKCM

This is a trend to watch as we move further into the new year. If we continue to see an increase in homes for sale, we could start moving further away from a seller’s market and closer to a normal market.

Bottom Line

If you are planning to enter the housing market, either as a buyer or a seller, let’s get together to discuss the changes in mortgage interest rates and inventory and what they could mean for you.

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

The Cost Across Time

by Christie Cannon

The Cost Across Time 

The Cost Across Time [INFOGRAPHIC] | MyKCM

Some Highlights:

  • With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years.
  • Rates are projected to climb to 5.0% by this time next year according to Freddie Mac.
  • The impact your interest rate makes on your monthly mortgage cost is significant!
  • Lock in a low rate now while you can!

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

2018 Was a Great Year for Home Equity for Most Homeowners!

by Christie Cannon

 2018 Was a Great Year for Home Equity for Most Homeowners!

Understanding your home's value is critical to knowing your net worth, your ability to refinance to a lower rate, removing mortgage insurance, & ensuring that you are not under-insured in case of casualty-loss! To find out a better idea of your home's value click here.

Contact us today for an easy, no cost, consultation & home valuation!

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

 

Belief in Homeownership as an Investment is Far from Dead

by Christie Cannon

Belief in Homeownership as an Investment is Far from Dead

Belief in Homeownership as an Investment is Far from Dead | MyKCM

Following last year’s real estate market was like riding a rollercoaster. The market started off strong in 2018 and then softened before finishing with a mild flurry. However, one thing that did not waiver was America’s belief that owning a home makes sense from a financial standpoint.

An end-of-the-year survey by the Federal Reserve Bank’s Center for Microeconomic Data revealed that:

“The majority of households continue to view housing as a good financial investment.”

And that percentage has increased over the last three years.

 

Belief in Homeownership as an Investment is Far from Dead | MyKCM

Bottom Line

Though there is some uncertainty as to how the real estate market will perform over the next twelve months, one thing remains very certain: America’s belief in homeownership.

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Frisco's Tallest New Tower Rises Above the Rest

by Christie Cannon

Frisco's Tallest New Tower Rises Above the Rest

Construction is moving right along on the newest & tallest tower to line Frisco's skyline. The new 25-story SkyHouse Frisco Station apartment tower will be lining the west side of the Dallas North Tollway near Warren Parkway.  Set to open in September of 2019, the building will house 332 luxury rental units. The high-rise is part of the $1.5 billion mixed-use Frisco Station development. 

"SkyHouse Frisco Station is on schedule, and we are pleased to be that much closer to offering residents the opportunity to be among the first to live in this unique building centrally located in the Hub, the centerpiece of Frisco Station," Jim Borders, president of Novare Group, said in a statement.

Frisco Station touts itself as a "feel-good place". The exciting new-urban development is the first in North Texas to address the total “well-being” of all who visit, live and work here. They are building the community around an innovative wellness program that brings together fitness amenities, medical facilities and wellness programming in a brand new way. These offerings make it easier than ever to achieve the ideal work-life balance and enjoy a healthy lifestyle, while being surrounded by the latest technology at every corner.

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Where is the Housing Market Headed in 2019?

by Christie Cannon

Where is the Housing Market Headed in 2019?

Where is the Housing Market Headed in 2019? [INFOGRAPHIC] | MyKCM

Some Highlights:

  • ­Interest rates are projected to increase steadily throughout 2019, but buyers will still be able to lock in a rate lower than their parents or grandparents did when they bought their homes!
  • Home prices will rise at a rate of 4.8% over the course of 2019 according to CoreLogic.
  • All four major reporting agencies believe that home sales will outpace 2018!

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Here’s to a Wonderful 2019!

by Christie Cannon

Here’s to a Wonderful 2019!

Here’s to a Wonderful 2019! | MyKCM
 
Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
​www.CannonTeamHomes.com

24 Hours that Suddenly Improved the Market

by Christie Cannon

24 Hours that Suddenly Improved the Market

24 Hours that Suddenly Improved the Market | MyKCM

This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months in a row.

To many, the outlook heading into 2019 appeared dim… at best.

Then, in a 24-hour window last week, things seemed to change. On Wednesday, the National Association of Realtors’ (NAR) revealed in their Existing Homes Sales Report that home sales had INCREASED for the second consecutive month. The next day, NAR’s economic research team announced that the percentage of first-time buyers in the market was higher than last month and even higher than a year ago.

What happened to turn around the downward momentum in the market? 

You only needed to wait a few hours to find out. On the heels of NAR’s revelations, Zillow released their November Real Estate Market Report that explained:

“After nearly four years of annual declines in inventory, the number of homes for sale has now increased year-over-year for three straight months…”

Ending 2018, we now know two things:

  1. Listing inventory increased over the last three months
  2. Home sales increased over the last two months

Maybe a lack of inventory was the major challenge all along.

But, what about those pesky interest rates?

Last Thursday (the day after all of the above news), Freddie Mac announced that mortgage rates did not increase but instead decreased…again. From their release:

“The response to the recent decline in mortgage rates is already being felt in the housing market. After declining for six consecutive months, existing home sales finally rose in October and November and are essentially at the same level as during the summer months.

This modest rebound in sales indicates that homebuyers are very sensitive to mortgage rate changes – and given the further drop in rates we’ve seen this month, we expect to see a modest rebound in home sales as well.”

Bottom Line

Will 2019 start out better than many have predicted? Perhaps, but we’ll have to wait and see. Things do look much better today, though, than they did just a month ago.

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Buyers Are Looking for Your Home, Now!

by Christie Cannon

Buyers Are Looking for Your Home, Now! 

Buyers Are Looking for Your Home, Now [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Existing home sales are currently at an annual pace of 5.32 million and have increased on a monthly basis for the last two months.
  • The inventory of existing homes for sale remains below the 6-months needed for a normal market and is now at a 3.9-month supply.
  • Inventory remains low due to high demand from buyers who are still looking for houses to buy!

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Displaying blog entries 1-10 of 183

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Photo of Christie Cannon Real Estate
Christie Cannon
Keller Williams Realty
4783 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 214-853-4774
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com

 

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