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The Best Time of Year to Purchase?

Friday, January 27, 2017
by Christie Cannon

When is the Best Time to Buy a Home?

Finance news website, The Nerd Wallet, recently published an article extolling the virtues of purchasing your home in January!  So how, how does January really stack up as the best month to buy a home in Dallas?  

Based on the latest REALTOR.com reporting, the Dallas, TX market while down 2 spots, remains number 4 in the nation’s Hottest Real Estate Markets. 

Rank
(January)

20 Hottest Markets

Rank
(December)

Rank Change

1

San Francisco, CA

1

0

2

San Jose, CA

4

2

3

Vallejo, CA

3

0

4

Dallas, TX

2

-2

5

San Diego, CA

5

0

6

Sacramento, CA

9

3

7

Yuba City, CA

11

4

8

Denver, CO

6

-2

9

Stockton, CA

7

-2

10

Fesno, CA

13

3

11

Oxnard, CA

15

4

12

Columbus, OH

8

-4

13

Colorado Springs, CO

14

1

14

Nashville, TN

18

4

15

Detroit, MI

10

-5

16

Modesto, CA

20

4

17

Los Angeles, CA

17

0

18

Tampa, FL

23

5

19

Santa Rosa, CA

12

-7

20

Fort Wayne, IN

16

-4

Based on REALTOR.com’s 2014 & 2015 combined data, buyer’s typically pay a premium in summer & enjoy a dip in prices in the winter.  Their data estimates up to a 2% historical premium.  In a recent article in the Dallas Business Journal, Ted Wilson of Residential Strategies, offered that the data suggests that while the “Best Time” may not be restricted to one month, a great deal of data does suggest the early spring is a great time to be looking.  So what are some of the reasons that support buyers star their hunting season sooner rather than later?

  • Competition may be lower – According to NerdWallet, over the last 2-years, while the inventory may be down 21%, buyer traffic is down over 40%
  • Prices are expected to rise, especially in new homes
  • Mortgage rates are expected to rise – as interest rates rise, buying power decreases
So while "the best time to buyer" may not strictly be in January, certainly early spring has many factors that may support an early start to your home buying process!

For more information on Dallas Business Journal’s take on this subject, please click HERE.

CHRISTIE CANNON  REALTOR

The Christie Cannon Team

Keller Williams Frisco

469-951-9588: Mobile

 

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Name among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

#1 Keller Williams Agent 2011-2016

Top 100 Agents in the Nation / KW

 

4783 Preston Rd #300, Frisco, TX 75034

 

 

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How to File Your Homestead Exemption - It is FREE

Thursday, January 26, 2017
by Christie Cannon

If you purchased a home this past year, now is the time to file your homestead exemption (if applicable).   Despite any mail you may receive from a service offering to do this for a fee, paying such a fee is not required.

So what does a Homestead exemption do? 

A homestead exemption removes part of your home’s value from taxation.  The Homestead Exemption also “caps” the taxable market value growth for your home!  It may also afford you certain legal protections from creditors & circumstances arising from the death of a spouse.

 

How does a homestead exemption work?

For most home owners, they seek an exemption for the possibility of lowering their taxable value.  Simply as an example, if a home were assessed by the county at $200,000, and the home owner received a $20,000 exemption – they would be taxed on $180,000 for their homestead.

 

Do all homes qualify for an exemption?

No, typically only your primary residence will qualify. The homeowner must be an individual (not a corporation or business entity) and have owned/occupied the home prior to January 1st of the tax year.  For an Over-65 or Disabled exemption,  the Jan 1st requirement is waived.

 

What homestead exemptions exist?

Any taxing unit, including a city, county, school, or special district, may offer an exemption of up to 20 percent of a home's value (but not less than $5,000). Additional Homestead Exemptions exist for “65 or older” &/or “Dis-abled”, Over-55 Surviving Spouse of a Person Who Received an over 65 Exemption, 100% Disabled Veteran, & Service Connected Disabled Veteran & Surviving Spouses.

 

What if my home has more than 1 owner?

You may still qualify if you are not the sole owner. For instance, if you own 50% of the property, & otherwise qualify, you may received 50% of the tax benefit.

 

When is the filing deadline?

BETWEEN JANUARY 1 & APRIL 30…..   and again, it is FREE!

 

OH NO!  I missed by deadline last year, did I miss my chance?

You may file up to one year from the date the taxes became delinquent!

 

What is the Homestead Cap?

Your homestead is protected from future appraisal tax-value increases in excess of 10% per year from the date of the last appraisal PLUS the value of any NEW improvements (like an addition, pool, etc).

 

How do I file?

Filing is done at your local county &/or county assessor’s office. 

Collin County click HERE

Denton County click HERE

Dallas County click HERE

 

Not sure you filed last year?

You can check in your local county’s tax rolls or simply give the county a call & they will be happy to confirm.

 

Want to know more?

Collin County & Denton County each have excellent FAQ’s on their websites!

 

Don’t see your county, check here!

https://www.comptroller.texas.gov/taxes/property-tax/county-directory/

 

Have additional questions, please let us know!

 

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office


Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2016

Top 50 Agents in the Nation / KW

 

4783 Preston Rd #300 Frisco TX 75034

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More Details on Legacy West in Plano

Thursday, January 26, 2017
by Christie Cannon

As the first residents move in, Plano’s luxury multi-use development project at Legacy West. continues to announce some amazing shopping & restaurants.

With over 5,000 parking spaces, 425,000 SqFt of retail, hotels, apartments, residential luxury tower - the Windrose Tower, & the Villas at Legacy West with Britton Homes, Legacy West is on track to be the largest mixed use development in North Texas – as such, we anxiously have awaited to hear who will be joining the project!  When the March 2nd Grand Opening occurs, what can we expect – see the below list for retailers & restaurants!  Click HERE for the latest Dallas News article on Legacy West's offerings!

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We are Proud to Introduce - Provence McKinney TX

Sunday, January 22, 2017
by Christie Cannon

 

Christie Cannon & The Christie Cannon Team of Keller Williams Frisco is proud to announce that we have been fortunate to partner with developer Texas North Residential to assist them in selling their most recent community – Provence | McKinney, TX!

Provence in McKinney, TX is a luxury townhome community boasting an easy living lifestyle, quality construction, rich designer details, and modern, elegant designs.  This small boutique community will offer approximately 80 townhomes, each able to tailored to a fit & finish of an owner’s style.  From delightfully appointed standard features, to the possibility of residential elevators, Provence strives to impress!

Nestled in West McKinney, a city named Money Magazine’s #1 Best Place to Live, this gorgeous community is centrally located with easy access to DFW’s two major airports, historic downtown McKinney and the Tollways.  Tree line streets, sculpture gardens, winding walking paths and an adjoining park create a tranquil setting.  Gabe Nesbit park and McKinney’s award winning APEX Fitness Center are only steps away!

We look forward to bringing you more news soon from this exciting community!

 

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office


Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2016

Top 50 Agents in the Nation / KW

 

4783 Preston Rd #300 Frisco TX 75034

 


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Edgestone at Legacy - Frisco Update

Friday, January 20, 2017
by Christie Cannon

 

One of Frisco's most anticipated luxury communities, has broken ground & is moving towards their grand opening!  Hines, a Houston based developer, has been developing one of Frisco’s most coveted tracks along Stonebrook & Legacy.

The expected list of builders for this community includes some of the areas most respected:

This premium location boasts Frisco ISD’s Allen Elementary & private school Legacy Christian Academy to the East & Frisco ISD’s Reedy High school & B.F. Phillips Community Park to the West.  Edgestone at Legacy enjoys a greenbelt of mature trees lining the winding path of Stewart Creek. 

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office


Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2016

Top 50 Agents in the Nation / KW

 

4783 Preston Rd #300 Frisco TX 75034

 


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DFW Heats Up REALTOR.com's Hottest Zip Codes

Saturday, January 7, 2017
by Christie Cannon

By now it is no secret that Dallas & Fort Worth real estate dominated national news in 2016, but according to REALTOR.com, Texas holds an overwhelming majority in the top searched zip codes on their national website.

TX real estate's "hot market" factor has earned TX cities 18 of the top 20 spots, with the entire top 10 list being from TX!

North Texas eats up the entire top 10 with Dallas suburbs taking 6 spots!

So why all the love?  For starters, keep in mind we are talking a geographic area the size of Connecticut & Rhode Island combined!  Likewise, this list only factors REALTOR.com's searches.  Other websites, like Zillow.com, are much less accurate (in many cases by more than 20%) in our non-disclosure state. 

And those Waco spots?  Well, according to one REALTOR.com article, a great deal of that search may simply be attributed to the wildly popular Chip & Joanne Gaines' TV show "Fixer Upper"!

It will be interesting to see how this list compares to other national websites stats!

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Frisco TX

469.951.9588: Mobile

972.215.7747: Office


Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Named among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2016

Top 50 Agents in the Nation / KW

 


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Low Inventory Continues to Drive Real Estate Prices

Tuesday, January 3, 2017
by Christie Cannon

Inadequate Inventory Driving Prices Up


The latest Existing Home Sales Report from the National Association of Realtors (NAR) revealed a direct correlation between a lack of inventory and rising prices. We are all familiar with the concept of supply and demand. As the demand for an item increases the supply of that same item goes down, driving prices up. Year-over-year inventory levels have dropped each of the last 18 months, as inventory now stands at a 4.0-month supply, well below the 6.0-month supply needed for a ‘normal’ market. The median price of homes sold in November (the latest data available) was $234,900, up 6.8% from last year and marking the 57 consecutive month with year-over-year gains.


NAR’s Chief Economist, Lawrence Yun had this to say:


"Existing housing supply at the beginning of the year was inadequate and is now even worse heading into 2017. Rental units are also seeing this shortage. As a result, both home prices and rents continue to far outstrip incomes in much of the country."


But there is good news about rising prices. More and more homeowners are recovering from a negative equity situation and learning that they are able to sell their homes and either move up to their dream home or downsize to a property that will better suit their needs. Look for these homes to come to market soon.


Buyer demand continues to outpace the supply of homes for sale. Listing your home in the winter attracts serious buyers who are looking to close the transaction quickly.



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Photo of Christie Cannon Real Estate
Christie Cannon
Keller Williams Realty
5933 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 972-215-7748
Send an Email
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com

 

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