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Home Prices: The Difference 5 Years Makes

by Christie Cannon

Home Prices: The Difference 5 Years Makes

Home Prices: The Difference 5 Years Makes | MyKCM

CoreLogic recently released their Home Price Index ReportOne of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from July 2013 to July 2018 to show how prices over the last five years have fared.

The graph below was created to show the 5-year change in price from July 2013 to July 2018 by price range.

Home Prices: The Difference 5 Years Makes | MyKCM

As you can see in the graph, the highest price appreciation occurred in the lowest price range with 48% growth, while the highest priced homes appreciated by 25%. This has been greatly fueled by the lack of inventory of homes available at the lower price ranges and high demand from first-time buyers looking to enter the market.

Where were prices expected to go?

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists and asks them to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

According to the Q3 2014 survey results, national homes prices were projected to increase cumulatively by 19.5% by December 2018. The bulls of the group predicted home prices to rise by 27.8%, while the more cautious bears predicted an appreciation of 11.2%.

Where are prices headed in the next 5 years?

Data from the most recent HPES shows that home prices are expected to increase by 20.0% over the next 5 years. The bulls of the group predict home prices to rise by 31.2%, while the more cautious bears predict an appreciation of 9.3%.

Bottom Line

Every day, thousands of homeowners regain positive equity in their homes. Some homeowners are now experiencing values even greater than those before the Great Recession. If you’re wondering if you have enough equity to sell your house and move on to your dream home, let’s get together to discuss conditions in our neighborhood!
 

 

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

5 Reasons You Should Sell This Fall!

by Christie Cannon

5 Reasons You Should Sell This Fall!

5 Reasons You Should Sell This Fall! | MyKCM

Here are five reasons why listing your home for sale this fall makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! In fact, more often than not, multiple buyers end up competing with each other to buy the same homes.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now 

Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon!

Historically, a homeowner stayed in his or her home for an average of six years, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all that they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 44 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The abundance of inventory available in these higher price ranges has created a buyer’s market for anybody looking to purchase these homes. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly AND you’ll be able to find a premium home to call your own!

According to CoreLogic, prices are projected to appreciate by 5.1% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on With Your Life 

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you feel you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

 

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

A+ Reasons to Hire a Real Estate Pro

by Christie Cannon

A+ Reasons to Hire a Real Estate Pro 

A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most ‘educated’ decisions you can make!
  • A real estate professional has the experience needed to help you through the entire process.
  • Make sure that you hire someone who knows current market conditions and can simply and effectively explain them to you and your family!

 

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

 

Top 3 Myths About Today’s Real Estate Market

by Christie Cannon

Top 3 Myths About Today’s Real Estate Market

Top 3 Myths About Today’s Real Estate Market | MyKCM

There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a mortgage.

Today, we want to try and clear the air by shedding some light on what’s causing some of these headlines, as well as what’s truly going on.

Myth #1: We Are Headed for Another Housing Bubble

Home prices have appreciated year-over-year for the last 76 straight months. Many areas of the country are at or near their peak prices achieved before the last housing bubble burst. This has many worried that we are headed towards another housing bubble.

Reality: The biggest challenge facing today’s real estate market is a lack of homes for sale! Demand is strong, as many renters have come off the fence and are searching for their dream homes.

Historically, a normal market requires a 6-month supply of inventory in order for prices to rise with the rate of inflation. According to the National Association of Realtors (NAR) there is currently a 4.3-month supply of inventory.

The US housing market hasn’t had 6-months inventory since August 2012! The concept of supply and demand is what is driving home prices up!

Myth #2: The Rumored Recession Will Lead to Another Housing Market Crash

Economists and analysts know that the country has experienced economic growth for almost a decade. When this happens, they also know that a recession can’t be too far off. But what is a recession?

Merriam-Webster defines a recession as “a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two consecutive quarters.”

Reality: Recession DOES NOT equal housing crisis. Many people associate these two terms with one another because the last time we had a recession it was caused by a housing crisis. According to the Federal Reserve, over the last 40 years, there have been six recessions. In each of the previous five recessions, home values appreciated.

Myth #3: There is an Affordability Crisis Looming

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.

There are many different affordability indexes supported by different organizations that all measure different data. For this reason, there is a lot of confusion about what “affordable” actually means.

The monthly cost of a home is determined by the home’s price and the interest rate on the mortgage used to purchase it. According to Freddie Mac, interest rates have risen from 3.95% in January to 4.59% just last week.

Reality: As we mentioned earlier, home prices have appreciated year-over-year for the last 76 months, largely driven by high demand and low supply.

According to a recent study by Zillow, the percentage of median income necessary to buy a home in today’s market (17.1%) is well below the mark reached in 1985 – 2000 (21%), as well as the mark reached in 2006 (25.4)! Interest rates would have to increase to 6% before buying a home would be less affordable than historical norms.

The starter-home market has appreciated at higher levels (9.4% year-over-year) than any other market. One reason for this is the fact that many of the first-time buyers who have flocked to the starter-home market are being met with high competition. For some hopeful buyers, it may take more than a good offer to stand out from the crowd!

Bottom Line

There is a lot of confusion in today’s real estate market. If your future plans include buying or selling, make sure you have a trusted advisor and market expert by your side to help guide you to the best decision for you and your family.

 

 

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747

www.ChristieCannon.com

Crush Taco - Local Restaurant Review

Located in Frisco, Texas, Crush Taco features a variety of gourmet tacos, house frozen margaritas, local beers, and speciality sodas.

Besides BBQ, tacos in Texas are not to be taken lightly. Chef Mo crushes the competition with his inventive and delectable variety. My favorites are the cornflake crusted shrimp and fried chicken “elotes style” tacos. I love the sweet chili sauce with the shrimp and who doesn’t like some Mexican street corn with fried chicken? My other favorite is the falafel. Yes, it is vegetarian, but trust me….it’s worth it. I like his addition of shredded cabbage for a nice textural balance. Pop of flavor with a little crunch is all I need. If you have some room, I’d also recommend the chorizo fries. Tell your friends about Crush Taco and you will be the tac-o the town.

 

Stewart Walker 
Buyer's Specialist
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.CannonTeamHomes.com

 

 

The Cost of Waiting: Interest Rates Edition

by Christie Cannon

The Cost of Waiting: Interest Rates Edition 

The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Interest rates are projected to increase steadily heading into 2019.
  • The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be.
  • Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home!

 

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

Thinking About Renovating? Top 4 Improvements for ROI

by Christie Cannon

Top 4 Home Renovations for Max ROI [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).
  • Minor bathroom renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
  • Upgrading your landscaping or curb appeal helps get buyers in the door. These upgrades rank as the 2nd and 4threnovations for returns on investment


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

Kevin Cannon with Zach Sams on Working Title RADIO Show

by Christie Cannon

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.

The Christie Cannon Team is Proud to be CACC 2018 Gala Sponsor

by Christie Cannon


 

We at The Christie Cannon Team of Keller Williams Frisco are thrilled & blessed to be a sponsor for the Children's Advocacy Center of Collin County's 2018 Gala.  This years Gala is "Deep in the Heart of Collin County" and will feature country music star Jake Owen! Enjoy music, food, drinks, a silent auction, & a new Lexus Raffle all in support of the mission of Children's Advocacy Center of Collin County - providing safety, healing, and justice to children victimized by abuse and neglect.

We hope to see you there!  Please click the links above or below to find out details of how you can support this amazing & critical institution.   http://www.caccollincounty.org/gala

Join us for Gala 2018 

on 

March 24th, 2018


at

TheStar_resize for web

Schedule of the Evening


6:00pm 
Registration opens | Cocktail reception | Silent auction opens

7:30pm 
Program begins

10:00pm
Jake Owen

We Are a Proud Member of Keller Williams Luxury International

by Christie Cannon

​The Christie Cannon Team ​is a proud member of Keller Williams Luxury International powered by Keller Williams Realty.

 

#1 in DFW Luxury

#1 in North Dallas

#1 in the World

 

 

Christie Cannon | REALTOR
The Cannon Team

Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com

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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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