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3 Tips for Making Your Dream of Buying A Home Come True

by Christie Cannon

3 Tips for Making Your Dream of Buying A Home Come True 

3 Tips for Making Your Dream of Buying A Home Come True [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking too much about it.
  • Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back.
  • What are you willing to cut back on to make your dreams of homeownership a reality?

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Google Plans to Open 2nd Data Center in North Texas

by Christie Cannon

Google Plans to Open 2nd Data Center in North Texas


Google has announced it has plans underway to open a second data center in the North Texas area. 

The first data center is currently underway in Midlothian, just south of Dallas. Google has not specified where exactly the second location will be, but it is not unlikely that it would be in the Collin or Denton county areas. 

“This growth will allow us to invest in the communities where we operate, while we improve the products and services that help billions of people and businesses globally,” said Google CEO Sundar Pichai in a blog post. “Our new data center investments, in particular, will enhance our ability to provide the fastest and most reliable services for all our users and customers.”

The Google data centers house powerful equipment to handle internet traffic. Last year, Google spent $9 billion on expansions across the United States. This year, Google plans to invest over $13 billion in technology upgrades, and bring offices and data centers to other states, including Nebraska, Nevada, Ohio, Oklahoma, South Carolina and Virginia.

As of now, there is no expected completion date for either the Midlothian data center or the other North Texas data center.

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Millionaire To Millennials: Don’t Get Stuck Renting A Home… Buy One!

Millionaire To Millennials: Don’t Get Stuck Renting A Home… Buy One! | MyKCM

In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”

Bach went on to explain:

“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.”

Then he explains the secret to buying that home!

“Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a 15-year mortgage? Well, one, you pay the mortgage off 15-years sooner, that means you’ll be able to retire in your fifties. Number two, you’ll save a fortune (on potentially hundreds of thousands of dollars in interest payments).”

What will it cost to pay your mortgage in fifteen years? He explains further:

“For fifteen years, you got to brownbag your lunch. Think about that! Brownbag your lunch literally for fifteen years. You can retire ten years sooner than your friends. You’ll have real wealth, because you bought a home – you’re not a renter. And you’ll be financially secure for life.”

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show, appearing more than 100 times, as well as a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS. He has also been profiled in many major publications, including the New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, Washington Post, the Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

North Texas Homeowners are Hatching Larger Nest Eggs

by Christie Cannon

North Texas Homeowners are Hatching Larger Nest Eggs

While home prices are slowing down in appreciation rate, most North Texas homeowners have already built up large nest eggs in their home values. 

The average return on home sales across the country was the highest since before the Great Recession and equaled a 32 percent gain on the property's original purchase price. The profits were even greater in the D-FW area, where the average owner made $78,865 off the sale of their home. That represents a 45-percent gain. 

In North Texas, the most equity rich homeowners are in about a dozen zip codes, where more than half the properties have mortgages of half or less the current value.

The D-FW neighborhoods with the largest share of equity rich homeowners includes the 75224 zip code in southwest Dallas (62 percent), the 76014 zip code in Arlington (59 percent) and 76106 in Fort Worth (58 percent).

Read the full report here.

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

 

How to Get a Better Perspective on Affordability

by Christie Cannon

How to Get a Better Perspective on Affordability

How to Get a Better Perspective on Affordability | MyKCM

Headlines spotlight the fact that buying a home is less affordable today than it was at any other time in more than a decade. Those headlines are accurate.

Understandably, buying a home is more expensive now than immediately following one of the worst housing crashes in American history. Over the past decade, the market was flooded with distressed properties (foreclosures and short sales) selling at 10-50% discounts. There were so many that this lowered the prices of non-distressed homes in the same neighborhoods. As a result, mortgage rates were kept low to help the economy.

Prices have since recovered. Mortgage rates have increased as the economy has gained strength. This has impacted housing affordability. However, it’s necessary to give historical context to the subject of affordability.

Two weeks ago, CoreLogic reported on what they call the “typical mortgage payment”. As they explain:

“One way to measure the impact of inflation, mortgage rates and home prices on affordability over time is to use what we call the ‘typical mortgage payment.’ It’s a mortgage-rate-adjusted monthly payment based on each month’s U.S. median home sale price. It is calculated using Freddie Mac’s average rate on a 30-year fixed-rate mortgage with a 20 percent down payment…

The typical mortgage payment is a good proxy for affordability because it shows the monthly amount that a borrower would have to qualify for to get a mortgage to buy the median-priced U.S. home…

When adjusted for inflation, the typical mortgage payment puts homebuyers’ current costs in the proper historical context.”

Here is a graph showing the results of CoreLogic’s research:

How to Get a Better Perspective on Affordability | MyKCM

As the graph indicates, the most recent calculation remained 28% below the all-time peak of $1,275 in June 2006. That’s because the average mortgage rate at that time was 6.68%. As seen in the graph, both today’s typical payment and CoreLogic’s projection for the end of the year are less than it was in January 2000.

Bottom Line

Even though home prices are appreciating at a slower rate, home affordability will likely continue to slide. However, this does not mean that buying a house is an unattainable goal in most markets. It is still less expensive today than it was prior to the housing bubble and crash.

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

One More Time… You Do Not Need 20% Down to Buy a Home

by Christie Cannon

One More Time… You Do Not Need 20% Down to Buy a Home

One More Time... You Do Not Need 20% Down to Buy a Home | MyKCM

The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each month after paying expenses.

In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment!

According to the “Barriers to Accessing Homeownership” study commissioned in partnership between the Urban Institute, Down Payment Resource, and Freddie Mac, 39% of non-homeowners and 30% of those who already own a home believe they need more than a 20% down payment.

The percentage of those who are aware of low down payment programs (those under 5%) is surprisingly low at 12% for non-homeowners and 13% for homeowners.

In a recent Convergys Analytics report, they found that 49% of renters believe they need at least a 20% down payment.

The median down payment on loans approved in 2018 was only 5%! Those waiting until they have over 20% may already have enough saved to buy now!

There are over 45 million millennials (33%) who are mortgage ready right now, meaning their income, debt, and credit scores would all allow them to qualify for a mortgage today!

Bottom Line

If your five-year plan includes buying a home, let’s get together to determine what it will take to make that plan a reality. You may be closer to your dream than you realize!

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Selling Your Home? Make Sure the Price is Right!

by Christie Cannon

Selling Your Home? Make Sure the Price is Right!

Selling Your Home? Make Sure the Price is Right! | MyKCM

If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price.

In today’s shifting real estate market, where more inventory is coming to market and home values are projected to appreciate at lower rates, homeowners will not be able to price their homes as aggressively as they were able to just last year.

They will have to employ the same strategy: be the closest without going over!

As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search!

Over the last six months, more inventory has come to market while the months’ supply of inventory available has dropped. This means that the demand for homes to buy is still very strong throughout the country!

Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the homes when in reality nothing was wrong, the price was just too high!

Bottom Line

If you are thinking about listing your home for sale this year, let’s get together to properly price your home from the start!

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Know What Your Home Is Worth!

by Christie Cannon

Know What Your Home Is Worth!

Christie Cannon shares why you need to know what your home is worth in 2019! Rising home values, the state of the housing market, your tax assessed value are all things you need to know! Christie dishes on these topics and more on the latest edition of Good Morning Texas.

The Cannon Real Estate Team is here for you and can answer all of your questions. 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

The Importance of Homeownership to the American Dream

by Christie Cannon

The Importance of Homeownership to the American Dream

The Importance of Homeownership to the American Dream | MyKCM

For centuries, people in this country have seen homeownership as part of the American Dream. Whether they were born here or immigrated from another country, they wanted to own a piece of America. With so many prominent societal changes over the last few decades, it is fair to ask if people in America still feel the same way about owning a home. The answer was made abundantly clear in two separate reports released earlier this month.

In their market trends report, As Housing Trends Shift, So Does Renter, Buyer and Seller SentimentTrulia revealed that:

“After two years of no change, the share of Americans who say that homeownership is part of their personal “American Dream” ticked up from 72 percent to 73 percent of Americans.”

At the same time, the National Association of Realtors released their Aspiring Home Buyers Profile. As the report explained:

“For both homeowners and non-homeowners alike, homeownership is strongly considered a part of the American Dream. For non-owners, roughly 75 percent reported that homeownership is part of their American Dream. For owners, nine in 10 believe it is part of their American Dream.”

Bottom Line

The belief among the vast majority of Americans, whether they rent or own, is that purchasing a home still remains a major step toward accomplishing the American Dream.

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

JPMorgan Chase Plans to Expand Its Huge Legacy West Campus

by Christie Cannon

JPMorgan Chase Plans to Expand Its Huge Legacy West Campus

 

Almost one year ago, financial giant JPMorgan Chase opened its 1-million square foot regional campus at Legacy West in Plano. The 49-acre development is home to thousands of JPMorgan Chase employees.

Chase is now requesting approval to expand the second phase of its $300 million project. The campus currently is home to three large buildings and two parking garages. The initial site plan details an additional 7-story building and 1.900 additional parking spaces in a new parking garage to be built on the south-side of Highway 121.

The Chase office is one of the biggest components of the Legacy West development, which is also home to office for Toyota, Liberty Mutual Insurance, Boeing & FedEx Office. Read about all the details here.

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
www.CannonTeamHomes.com

Displaying blog entries 1-10 of 96

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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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