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New Build Inventories are Seeing a New Peak

by Christie Cannon

 

 

Many experts have been calling upon home builders to ramp up construction to help with the lack of existing inventory for sale. For the past two months, new home sales have surged, with July’s total coming in at the highest since October 2007.

The latest estimates from the US Census Bureau and Department of Housing and Urban Development show that sales in July were31.3% higher than this time last year, and 12.4% higher than last month, at a seasonally adjusted annual rate of 654,000. 

 Zillow’s Chief Economist, Svenja Gudell, echoed the reaction of some as she commented:

“July(‘s) new home sales data was a surprise, but a welcome one. For years, the market has been practically begging builders to both ramp up their efforts overall and to put more focus on serving the less expensive end of the market. Today's data confirms both are happening in earnest.”

 The National Association of Home Builder’s (NAHB) Chairman, Ed Brady, didn’t seem as surprised:

 “This rise in new home sales is consistent with our builders’ reports that market conditions have been improving. As existing home inventory remains flat, we should see more consumers turning to new construction.”

  NAHB’s Chief Economist, Robert Dietz, believes this is just the start for new home sales if market conditions continue:

  “July’s positive report shows there is a need for new single-family homes, buoyed by increased household formation, job gains and attractive mortgage rates. This uptick in demand should translate into increased housing production throughout 2016 and into next year.”

  The existing home sales numbers for July will be released today and will shed more light on the overall health of the housing market.

Bottom Line

New home sales hit their highest mark in over 9 years. Buyers are out in force to find a home that fits their needs. Many are turning to new construction, as the inventory of existing homes has not been able to keep up with demand.

Christie Cannon of Keller Williams Frisco Named One of America’s

Top 1,000 Real Estate professional Teams BY
Real Trends, As advertised IN

THE WALL STREET JOURNAL

Christie Cannon, From Frisco TX, Had an Impressive 2015 on Her Way to Becoming One of DFW’s Top Professionals  

Christie Cannon of Keller Williams Frisco was named one of America’s top real estate professional teams by REAL Trends, as advertised in The Wall Street JournalHer Team is now a member of the “The Thousand Top Real Estate Professionals,” a prestigious national awards ranking sponsored annually by REAL Trends and advertised in The Wall Street JournalCannon is now ranked in the top one half of 1 percent of the more than 1.1 million Realtors® nationwide.

The Thousand real estate professionals was announced on June 24, 2016, with four separate categories honoring the top 250 residential agents and agent teams for excellence in:

  • Individual Sales Professionals—Sales volume
  • Individual Sales Professionals—Transaction sides (in each real estate transaction, there are two sides that can be represented by a real estate agent: a buyer’s and a seller’s.)
  • Team Professionals—Sales volume
  • Team Professionals—Transaction sides  

For the second year, REAL Trends has added two new categories to The Thousand ranking based off of average sales price. This new category is broken down into the top 50 residential agents and agent teams for excellence in:

  • Individual Sales Professionals – Average Sales Price
  • Team Professionals – Average Sales Price

According to The Thousand, Cannon had 270 home sales totaling over 97-million in home sales, ranking 235th, in the nation.

“The best individual agents and teams—including Cannon’s award-winning efforts—were nothing short of phenomenal considering the challenges in today’s complex housing market,” said Steve Murray, founder of REAL Trends, a Denver-based consulting, publishing and communications company and The Trusted Source that complies the yearly, third-party verified list.

“Becoming a member of such an elite group as The Thousand is an incredible accomplishment in any market, but what Christie Cannon did during these challenging times is impressive on so many levels,” said Marti Gallardo, vice president of classified advertising for The Wall Street Journal.  “Cannon's efforts topped 99.99 percent of the more than 1.1 million Realtors nationwide.”

“I am absolutely thrilled to be named to The Thousand,” said Cannon, who serves clients primarily in Collin, Denton, & Dallas Counties.  “It’s incredibly gratifying to help clients find their dream homes as well as help them sell their properties quickly and for the highest price possible.”

The ranking of The Thousand can be found at:

          www.thethousandrealestateprofessionals.com 

About The Thousand - This awards program was developed jointly by WSJ. Custom Studios (and is not affiliated with the Editorial Department) and REAL Trends, a leading source of analysis and information for the residential real estate brokerage industry. REAL Trends The Thousand honors America’s elite real estate professionals and their companies and is compiled and analyzed by REAL Trends with a special ad section included in The Wall Street Journal

TV Real Estate Myths!

by Christie Cannon

So by now we have all seen the myriad of TV Real Estate Shows - you know the shows where lovely couples are generally seeking out starter homes at prices that would make our average North Texas' buyers pass-out.  As a long-time agent and someone who has been asked by producers to participate in such shows, I am often asked what is the Reality v/s the Realty? I came across the below blog post from a Real Estate Magazine that discusses that very question.  By now most of this may be fairly common knowledge, but I thought it may also be a little fun.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.

Truth: There may be buyers who fall in love and buy the first home they see, but more often than not the process of buying a home means touring more than three homes. (We often see buyers who understandably want to tour & examine dozens of homes before they are comfortable making such an expensive decision.)

Myth #2: The houses the buyers are touring are still for sale.

Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.

Myth #3: The buyers haven’t made a purchase decision yet.

Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.

Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.

Truth: Of course this would be great! Open Houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular showing appointments as well. (Open Houses are a great tool, but really are only 1 of many options.  Likewise, despite marketing, an Open House’s success is often very dependent on a home’s location, the communities’ traffic, & the proximity to New Home communities.)

Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.

Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their home and move on with their life/goals.

My take away - Like most things on TV, these shows are all about having some fun; so relax & enjoy.  As a watcher of renovation shows, I fully understand that kitchen remodels take longer than 3-days; adding granite + new tile doesn’t really raise the value $25k; & no matter how easy it looks on TV, I will never be able to make a cute coffee table out of a reclaimed shipping pallet  -– but I still enjoy watching them!

 

 


How Much Have Texas' Home Values Risen?

by Christie Cannon

The fast pace of North Dallas' Real Estate market often has people asking about where prices are headed v/s where prices have been.  

As we have previously reported, each quarter Freddie Mac releases their Home Price Index, tracking national & local statistics.  One of the most compelling illustrations of how high values have risen can be found in the above map, reflecting overall state values as a percentage of their increase over Pre-2008 Peak Values.  Texas' value, as a whole, ranks 3rd behind North Dakota & Colorado for their percent over Peak Values.

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Realty Frisco 

469.951.9588: Mobile

972.215.7747: Office

www.christiecannon.com

  

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 2011-2015

Top 100 Agents in the Nation / KW

 


Frisco, TX Real Estate Market - July's numbers in Review!

by Christie Cannon

 

 
July Numbers from MetroTex for Frisco's home stats are below!

The take-away
- Price up from last year about 2%. 
- # of homes sold down about 9%. 
- # of homes listed for sale down 

July 2016 
•318 – Homes sold, down 9.4 percent from July 2015.
•$383,500 – Median sales price for homes, 2.3 percent higher than July 2015.
•$424,829 – Average sales price for homes, a 5.3 percent increase.
•3.3 – Monthly housing inventory estimate.
•36 – Average number of days homes spent on the market in July 2016.
•853 – Active home listings on the market in July 2016.

Year-to-Date Market Snapshot
•1823 – Homes sold, 0.9 percent lower than the same time frame in 2015.
•$776,513,998 – Total dollar volume of sales in Frisco, a 4.4 percent increase over 2015.
•$387,500 – Median sales price for homes, a 5.9 percent increase.
•$425,954 – Average sales price for homes, a 5.3 percent increase.
•41 – Average number of days homes spent on the market.
•685 – Average monthly active home listings.

 

Have Questions about your community or your home?  Please give me a call!

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Realty Frisco 

469.951.9588: Mobile

972.215.7747: Office

www.christiecannon.com

  

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 2011-2015

Top 100 Agents in the Nation / KW

Frisco Facts at a Glance!

by Christie Cannon

Frisco Fast Facts & Stats

 

  • Land square miles - 70.2
  • Land Developed - 62%
  • Growth Rate 2000 – 2014 - 307%
  • Population 7.01.2016 - 156,320
  • Population 2000 Census - 33,714
  • Population Build Out - 375,000+
Residential Demographics Average
  • Age - 36.1
  • Households w/children 17 & younger - 32.9%
  • Median Household Income - $115,603
  • Average SF Home Appraisal - $359,924
  • Median Monthly Mortgage - $2,187
Workforce
  • Residents 25+ w/Bachelor’s or Grad Degree - 60.2%
  • Workforce Estimate - 75,633
  • Unemployment - 2.9%
Frisco Independent School District
  • Enrollment 5.2.2016 - 53,806
  • Projected Enrollment 2020 - 65,848
  • High Schools - 8
  • Number of Schools - 64

Christie Cannon awarded 5-Star Real Estate Agent Award

by Christie Cannon

Christie Cannon & The Christie Cannon Team was recently awarded

The Five Star Real Estate Agent Award & featured in Texas Monthly magazine.

Thank you for all your support!

For 13 years the Five Star program has conducted market research in 45 markets in order to identify excellent service professionals. Homebuyers & sellers are surveyed and asked to evaluate with whom they have worked.  Judged on 10 criteria, these nominations are then elegible for the award.  The Christie Cannon Team is thrilled to announce that we have been blessed to receive this award for the 5th year in a row!

Additional info on the award can be found here!

Thank you again for the opportunity to serve you & for your continued support!

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

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

Certified Luxury Home Marketing Specialist

Global Property Specialist

#1 Keller Williams Agent 2011-2015

Top 100 Agents in the Nation / KW

 


The Impact of Interest Rates!

by Christie Cannon

For most home buyers, a mortgage is a reality.  When it comes to purchasing with-in a buyer's set budget, understanding your interest rate is a critical factor in affordability!

Dallas Home Price Increases Far Outpace the US

by Christie Cannon

While many have reported the record gains that DFW has seen over the last 5-years have started to slow in their pace of increase, affordability continues to be a real problem for low-to-medium income households.  

Our record increases are easily reflected in the latest S&P/Case Shiller Index.  With local home prices up over 8.4%, Dallas' increase is almost twice that of the national average of 4.4%.  According to the Case Shiller Index, North Texas' record levels are almost 20% higher than our "peak" market in 2007!  While many of the economic fundamentals of the North Texas economy remain strong, many in our market are starting to grow weary of the increasing affordability gap. Despite Dallas being among the top three increases in the nation, many experts still consider the North Texas market a bargain compared to many other market areas around the nation. However, we are already starting to see signs of buyers (especially those that are long term residents) growing fatigued with rising sale prices compared to North Texas' more modest historic gains.

 

CHRISTIE CANNON  REALTOR

The Christie Cannon Team

Keller Williams Realty 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

Among the top 250 Real Estate Teams in America as seen in The Wall Street Journal

Certified Luxury Home Marketing Specialist

Gobal Property Specialist

#1 Keller Williams Agent 2011-2015

Top 100 Agents in the Nation / KW

 


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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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