Love your home, but not your location? Check out what happened when Plano's oldest home was facing destruction.
Built in 1861, the Collinwood House, was moved to Haggard Farm last week to protect the home's future. The City of Plano purchased the home's previous location with the intent of turning the Collinwood Farm into a city park. After a city bond intended to restore the property was declined by voters last year, the property was facing likely destruction. The home was purchased by one of Plano's founding families, the Haggards, whose plan is to restore the property the frontier property
Zach Sams of Kensington Vanguard sat down with Kevin Cannon, Keller Williams Team Leader & owner at The Christie Cannon Team, to talk about up and coming REALTORs in the DFW area and how Kevin's managed to stay on top of the competition in the ever-expanding market in the Metroplex.
Savor Dallas partnered with the Tour & Dallas' best celebrity chefs & local restaurants to present a Tasting Village. This unique experience will offers a taste of TX's best flavors as well as local & national craft breweries, wine, & spirits!
Zach invites Christie Cannon of the Christie Cannon Team with Keller Williams on to the show to talk about the modular design of her full-suite team and their uncanny ability to cement themselves as one of the top Real Estate teams in the often unpredictable Dallas/ Fort Worth market year after year before digging into her upcoming segment on The American Dream TV and how she'll be filling home sellers in on the secret to selling without spending a dime this Saturday (March 3rd, 2018) at 1pm on TXA 21. For more about Christie and her team, visit www.christiecannon.com.
One of the most common questions every homeowner wants to know is how to make sure they maximize their financial reward when selling their home. But how do you set yourself up to ensure that you receive the maximum value for your house?
Here are two keys to ensure that you get the highest price possible.
1. Price it a LITTLE LOWER
This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).
Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.
Realtor.com gives this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”
2. Use a Real Estate Professional
This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.
A study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.
In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:
“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”
The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.
Bottom Line
Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house. To see what your home might be able to sell for, please click the link below!
Housingwire.com's 2018 forecast of the best Real Estate Markets in the US includes only 1 California city! Viva Las Vegas for the number 1 spot!
To prepare the list, REALTOR.com analyzed the economics, home sale data, new home & builder activity, & population trends to predict the top 10 markets in 2018 in the United States.
Our very own Dallas TX real estate market is predicted to take the number 2 spot! REALTOR.com believes that Dallas, with a median home price of $339,300, will enjoy a 6% increase in sales & 5.6% increase in price.
For more information on our local real estate market, please contact us!
Christie Cannon | REALTOR The Christie Cannon Team | Kw Realty Keller Williams Frisco TX 469-951-9588 www.ChristieCannon.com
The DFW area literally lights up and twinkles as the holidays draw near. Everywhere from Dallas to Frisco to the Ft. Worth Stockyards light up in spectacular displays. With looks of excitement on children's faces, the sound of carolers singing familiar tunes, the taste of sweet holiday favorites and the smell of Christmas pine flooding the area, you can't help but get into the holiday spirit. We have compiled a list of our favorite spots to view holiday lights in the DFW area. Make the rounds and find your family's next holiday tradition!
Frisco Square - Drawing over 750,000 visitors annually, Frisco Square offers North TX largest choreographed light display! Boasting snow flurries every 15 minutes, ice skating, inner tubing snow slide, horse drawn carriage rides, light & music shows, trackless train rides & even a parachuting Santa - this place has it all! Going on now through Dec 31st!
Deerfield, Plano- Running from December 1st - 30th, this quintessential Plano neighborhood is jammed packed with gorgeous homes competing for the best, funniest & most traditional displays. Check out their website for best routes & carriage ride info!
Vitruvian Lights in Addison - Wander through Vitruvian Park’s 12 Acres and view over 550 illuminated trees wrapped in 1.5 million sparkling LED lights. Enjoy free live music in the park, food trucks & free pictures with Santa!
Highland Park & Highland Park Village - What can I say? Gorgeous architecture complemented by professional Christmas lighting. Spanning about 20 blocks, this is the perfect time to splurge on a horse drawn carriage ride.
Enchant Christmas - A world of Christmas wonder awaits you in Arlington at Globe Life Park! Surrounded by millions of dazzling lights, experience the world’s largest Christmas light maze, ice skating, Santa’s palace, live entertainment & a Christmas marketplace.
12 Days of Christmas - The Dallas Arboretum plays host to this elaborate exhibition featuring 25ft Victorian style gazebos filled with costumed characters, whimsical animals & music made famous the beloved Christmas carol.
Prairie Lights - Growing larger each year, this Grand Prairie display is located in Lynn Creek Park and has become a destination in its own right. Offering a 2-mile path of lights, a snow maze, holiday lighted walk-through forest, holiday village, & more. Be sure to check out their website as there are costs for this one!
Interlochen in Arlington - This year marks the 42nd Anniversary of one of the largest drive-thru Christmas light displays in North TX.
Tour of Lights in Farmers Branch - A drive thru animated display of over 500,000 twinkling lights. Located in the Farmers Branch Historical park with a variety of different scenes & themes.
Texas Motor Speedway - Supporting Toys for Tots, this huge display boasts a drive-thru display & Santa's Village. Be sure to check out the website for pricing!
ICE & the Gaylord Texan Resort - Ice skating, gingerbread house building, sled riding, Santa photos, Holiday village, light displays, 2+ million pounds of ice, what do they not have?
Have some ideas & comments that will help our list? We would love to hear from you!
Thank you & we wish you a very Merry Christmas & Happy Holiday Season!
In today’s housing market, where supply has been low and demand high, home values have increased rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal. This is a topic that you may have seen us discuss previously - Appraisals & Why Every Home Must be Sold Twice.
If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.
Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, and an appraiser’s evaluation of that same home.
Bill Banfield, ExecutiveVP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge:
“Based on the HPPI, it appears homeowners in the markets where prices are rising faster than the national average – like Denver, Seattle and San Francisco – are continuing to underestimate just how quickly home values are rising, so the average appraisal is higher than homeowner estimate.
On the inverse of that, homeowners in areas where the values aren’t rising as fast may think they are rising faster than they are, leading to the appraisal lagging the estimate.”
The chart below illustrates the changes in home price estimates over the last 12 months.
Every house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this and any other obstacles that may arise.
Looking to Make a Move Up to a Luxury Home? Now maybe the Time!
If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.
The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.
Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.
The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.
But not all who are buying luxury properties have a home to sell first.
In a Washington Postarticle, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:
“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”
The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.
For more information, please contact us at 469-951-9588
Shifting Inventory in North TX Creates Opportunity.
Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two markets.
In the starter and trade-up home categories, there were significantly more buyers than there were homes for sale, causing a seller’s market. In the premium, or luxury, home categories, the opposite was true as there was a surplus of these homes compared to the buyers that were out searching for their dream homes, which created a buyer’s market.
According to the National Association of RealtorslatestExisting Home Sales Report, the inventory of existing homes for sale in today’s market is at a 4.2-month supply. Inventory is now 6.5% lower than this time last year, marking the 27th consecutive month of year-over-year decreases.
Looking at the latest report from Trulia, we can see that not much has changed, and in fact, recent natural disasters across the country have made inventory conditions even more dire.
Trulia’s market mismatch score measures the search interest of buyers against the category of homes that are available on the market. For example: “if 60% of buyers are searching for starter homes but only 40% of listings are starter homes, [the] market mismatch score for starter homes would be 20.”
The results of their latest analysis are detailed in the chart below.
Nationally, buyers are searching for starter and trade-up homes and are coming up short with the listings available, which is leading to a highly competitive seller’s market in these categories.
Premium homebuyers, on the other hand, have the best chance of less competition and more inventory of listings in their price range with a 14.7-point surplus, which is creating more of a buyer’s market.
Real estate is local. If you are thinking about buying OR selling this fall, contact us to discuss the exact market conditions in your specific area.
