Real Estate Information Archive

Blog

Displaying blog entries 1-10 of 46

DFW Real Estate Q1 Recap

by Christie Cannon

Brief:

  • Sales of existing single-family homes in Dallas–Fort Worth, TX, during Q1 were on pace to equal or surpass 2016's figures, according to the Dallas Business Journal, making it another record year.
  • Prices for those properties are also expected to keep climbing as supply there continues to contract. The market has a 2.2-month inventory of single-family homes, compared to the 6-month stock needed for equilibrium.
  • For the first time, the median home price in that market ($236,500 in Q1), was higher than the national median ($232,100 for the quarter) and represented one of the country's largest home-price increases for the period, The Dallas Morning News reported.

Insight:

One of the nation's fastest-growing cities, Dallas is a hotbed for new construction as companies relocate to the area motivated in part by its historically lower costs of doing business and, for employees, cost of living.

A host of projects catering to this uptick in demand are in the works. Earlier this month, Houston-based developer Hines announced plans for a 135-acre "live-work-play" mixed-use complex that will bring 3.5 million square feet of office, residential and retail space to one Dallas suburb. 

In April, developers broke ground on the 262-acre, $1 billion Bayside mixed-use project in Rowlett, TX, that will see an 8-acre lagoon and a 1,000 boat-marina added along Lake Ray Hubbard. The complex will also include 1.5 million square feet of commercial space, a 500-room resort and more than 2,500 condos, apartments, townhomes and single-family residences.

Along Frisco, TX's "$5 billion mile" is the $1.5 billion Frisco Station mixed-use development currently under construction. The 242-acre project will eventually feature 2,400 residential units, a 40-acre medical center, 650 hotel rooms and 300,000 square feet of dining, retail and entertainment space.

The rapid development in Dallas–Fort Worth has analysts worried the area could lose its status as a historically affordable market. As demand picks up and inventory lags, big builders are digging in. Taylor Morrison, for example, has said it intends to grow its presence there, announcing plans in October 2016 for two master-planned communities in the city's northern suburbs. 

Texas' housing boom drove the state to a 38% share of the MPC market in 2016 — the most of any state, and a 28-percentage-point increase in its share of all U.S. MPCs since the 1990s.

Recommended Reading:

 

The Christie Cannon Team | Keller Williams Frisco TX | www.christiecannon.com

4783 Preston Rd #300 Frisco TX

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

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!

Home Sales Bounce Back Despite Low Inventory

by Christie Cannon
  • December saw the highest month-over-month increase with existing Home Sales up alomost 15% over November.
  • The National Pre-existing Home Inventory remains below the historic norm with only a 4-months supply.
  • Year-over-year price gains continue with a 7.6% increase.

National Association of REALTORs December Existing Home Sales Report

by Christie Cannon

Holiday Happenings - All Around Town

by Christie Cannon

Continued Drop in Distressed Home Sale Prices

by Christie Cannon

In the latest Existing Home Sale Report from the NAR (National Association of REALTORs), the NAR is reporting that less than 6% of the national market represents distressed sales.  This is a sharp decrease from 2014 reporting at 9%. At their most recent peak, distressed property sales represented a full 35% of all national real estate sales.  6% represents the lowest figure since 2008, when the NAR began tracking this metric. 

Existing Home Sales continue steady, with year-over-year sales up 3.9%.  Likewise, inventory remains low at approximately 4.8-months supply, versus a balanced market at 6-months.  The national median home price has seen an increase of 5.9% to $219,000.  It is important to consider, that the sharp increase in median price, at least for many markets, represents a regaining of previously lost sale prices.

Niche.com's Best Suburbs to Purchase a House in TX

by Christie Cannon

Niche.com just published their 2015 List of Best Suburbs in TX to Purchase a Home!

Once again Denton & Collin Counties dominate the top 10 list with 8 spots!

 

  1. Little Elm
  2. Murphy
  3. Frisco
  4. Allen
  5. Lavon
  6. Leander
  7. Wylie
  8. The Colony
  9. McKinney
  10. Cedar Park
The Best Suburbs List is also broken down by Metro Area - Dallas. For the entire list &/or how the rankings were calculated, click here!

 

Why Correct Pricing is Key

by Christie Cannon

How many times have you as a buyer, seller, home owner, or real estate pro witnessed a house that seemed to linger a little longer than the neighbors, then undergo a modest price drop and -boom- full price offer, or better yet (at least for the seller) multiple offers?  There is no better anecdote for the power of proper pricing than this classic scenario.

Proper pricing placement is critical to positioning a home in the market. Even a home slightly overpriced will often go "unnoticed" by buyers in the market, despite a seller's likely willingness to negotiate a less than full list-price contract. According to the National Association of REALTORs, pricing a home 10% over market value eliminates up to 70% of the "buyer pool" willing to look at the home.  As such, proper pricing or a well timed price reduction, can assist in positioning a home where the market is most likely to react.  

Fannie Mae's 2016 Housing Projections

by Christie Cannon

Displaying blog entries 1-10 of 46

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