Real Estate Information Archive

Blog

Displaying blog entries 1-5 of 5

Union Park Little Elm TX - New Community

by Christie Cannon

More information has been coming out about Little Elm's newest master planned community - Union Park. Developed by Hillwood, this Denton ISD community is seeking to bring in some of DFW's best builder: Highland HomesPlantation HomesAmerican Legend HomesEmerald Homes and Drees Custom HomesThe community will feature a community greenbelt with hiking trails to connect each phase. 

Amenities will include:

  • 35 Acre Wooded - Contiguous Central Park
  • Open Air Pavilion overlooking park
  • Community Center with Resort Pool
  • Food Truck Park
  • Pocket Parks and sports practice fields throughout the community
  • Denton ISD
  • Variety of Trails through the wooded areas and throughout the community
  • Fishing Ponds
  • Outdoor Fitness
  • Lifestyle, community event

Home Values Today v/s The Peak

by Christie Cannon

Bubble in the making? Seasonal "uptick"? or simply supply & demand?

Home prices continue to inch higher & higher, but in all but 7 states (those in darkest blue) the average home price has yet to reach "peak pricing." Those seven states in darkest blue reflect the state's current market is their price peak.  

At least here in North Texas, our fundamentals remain strong, inventory remains low, & for many buyers there is little relief in sight.

 

Low Inventory Create Slowdown in Sales

by Christie Cannon

“Lagging Supply” Leads to Slowdown in Sales  | Keeping Current Matters

The National Association of Realtors (NAR) recently released the results of theirExisting Home Sales Report. Despite the fact that properties are selling faster than they have at any other time since July of 2013, existing home sales declined 3.3% from March.

NAR’s Chief Economist Lawrence Yun explained the main reason for the slow:

"April's setback is the result of lagging supply relative to demand and the upward pressure it's putting on prices.”

One major news organization actually used this headline about the decline:

Existing home sales fall 3.3%

They certainly haven’t cratered! April marked the second month in a row that the annual sales pace remained above the five million mark (5.04 million). Year-over-year sales have increased for seven consecutive months and are still 6.1% above a year ago.

Every month, SentriLock, LLC provides NAR Research with data on the number of homes shown to potential buyers. This data is referred to as ‘Foot Traffic’ and is a great predictor of future sales and buyer demand. In April, buyer demand remained at the same level experienced in March.

Why did sales go down?

Buyers who are ready and willing to make a purchase are entering a market where their dream house may not have been listed yet. They can’t find it! Or if they find it, it happens to catch the eye of other buyers and an ‘auction like environment’ begins.

"Housing inventory declined from last year and supply in many markets is very tight, which in turn is leading to bidding wars, faster price growth and properties selling at a quicker pace," says Yun. "To put it in perspective, roughly 40 percent of properties sold last month went at or above asking price, the highest since NAR began tracking this monthly data in December 2012." (emphasis added)

The median home price of existing homes sold in April was $219,400, which is 8.9% higher than last year, and marks the 38th consecutive month of year-over-year price gains.

Bottom Line

So how do you make sense of everything that’s going on in the housing market when there are so many conflicting headlines on the same report?

John Burns, real estate expert and CEO of John Burns Real Estate Consulting gives this advice:

“The bottom line is this: don't make decisions based on newspaper articles. Read the actual press release, including the methodology, and make sure the results jive with other data points and qualitative feedback you receive.”

If you are one of the many homeowners out there realizing that now may be the time to list your home for sale, or one of the many renters debating a purchase, sitting with a local real estate professional who takes the time to find out what’s really going on in the market, should be your first step!

Existing Home Sales Stats for May 2015!

by Christie Cannon

Buyer Demand Exceeds Housing Supply [INFOGRAPHIC] | Keeping Current Matters

Highlights:

  • Inventory Levels remain less than a six month supply - indicated an unbalanced / seller's market
  • For the last 38 straight months the market has seen gain in home prices
  • The average time on market is the lowest since June 2013

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!

Displaying blog entries 1-5 of 5

Syndication

Categories

Archives

Share This Page

Contact Information

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

 

Home Warranty Of America