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Interest Rate & Purchasing Power

by Christie Cannon

 

I know, I sound like a broken record.... but if you are borrowing money, interest rate is king!
The below graph does an excellent job of illustrating the effective relationship between interest rate & purchasing power based on monthly payment.

I know, I sound like a broken record.... but if you are borrowing money, interest rate is king!
The below graph does an excellent job of illustrating the effective relationship between interest rate & purchasing power based on monthly payment.

Numbers! Numbers! Numbers!

by Christie Cannon

What do they all mean?... for anyone not yet acquainted with The Real Estate Center of Texas A&M; they do an amazing job of  making complex assessments easy to understand.

We never miss an opportunity to see what these nationally recognized experts have to say.... & one thing they continue to repeat is Growth, Growth, Growth.

Their June Real Estate Outlook (presented to the Dallas-Fort Worth IFMA is available here!

Stay tuned or give me a call to see how we look locally!

- Christie Cannon - 469-951-9588

Frisco TX Real Estate Trends & Stats

by Christie Cannon

Frisco at a Glance

  • The median price of existing single-family homes increased +4.3% vs Mar-2011.
  • Median price remains +9.1% higher vs Apr-2010. 
  • Existing single-family home sales increased +19.2% from Mar-2011 for a total of 161.  However, sales are -21.7% lower than Apr-2010.

Specific Sales & Housing Stats with City breakdowns available here:  www.DFWHomeTrends.com

View all available Prosper Luxury Homes!

by Christie Cannon

In response to recent requests, I have attached a link to www.prosperluxuryhomes.com.

This website offers all available luxury homes in Prosper, Texas that are priced over $500,000 and built after 2000. 

Please enjoy.

As always, feel free to call the Christie Cannon Team with all your real estate questions!

- Christie - 469.951.9588

ALL FORECLOSURES IN PROSPER, TEXAS!

by Christie Cannon

AS REQUESTED,

HERE IT IS....ALL OF THE FORECLOSURES CURRENTLY LISTED IN THE CITY OF PROSPER, TEXAS - FOR FREE.  JUST CLICK ON THE LINK BELOW TO VIEW.  ALL LISTINGS ARE UPDATED DAILY.

PROSPER FORECLOSURES

DON'T FORGET TO SEE THE FRISCO, TEXAS - FORECLOSURE LIST AS WELL.

FRISCO FORECLOSURES

NEED ANOTHER CITY - JUST ASK ME AND I'LL POST IT FOR YOU FOR FREE ON MY WEBSITE!   

PLEASE FEEL FREE TO GIVE ME A CALL ANYTIME AND I WOULD BE DELIGHTED TO ASSIST YOU WITH ANY QUESTIONS OR CONCERNS.

 

Housing: Best Time to Buy in Four Years

by Christie Cannon

Housing: Best Time to Buy in Four Years
by Les Christie
Tuesday, March 4, 2008 provided by CNN-Money
 
It may be the best time to buy a house in more than four years.
 
Home prices have dropped so quickly and so far that valuations - the difference between what a home should cost and its actual price - are the lowest they've been since 2004, according to a report.
 
The Cleveland-based bank National City Corp., together with financial analysis firm Global Insight, revealed Tuesday that more than 88% of the 330 housing markets surveyed showed price declines and improved affordability during the last three months of 2007.
 
"Housing valuations are almost back to long-term norms," said National City's chief economist, Richard DeKaser. He called current affordability "the best in the past four years."
 
But DeKaser cautioned that home prices could fall even further.
 
"This isn't to say home price declines are over," he said. "We could move below historic norms. By the end of 2008, housing markets could be broadly under valued."
 
Prices still improving
 
There are still 21 housing markets, or 6% of those surveyed, that are severely over valued, including Atlantic City and Madera, Calif. That's down from 56 overvalued markets at the peak of the housing bubble in 2006.
 
The report compares actual median home prices with what the authors determine are proper home values based on population density, relative income levels and interest rates, as well as historically observed market premiums or discounts, to determine whether markets are over or under valued.
 
The report also factors in market intangibles that make some areas more desirable places to live, and more expensive. 
 
"Declines are no longer confined to once-frothy markets," said DeKaser.
 
The survey covered home valuations during the last three months of 2007, but DeKaser pointed out there's reason to believe that valuations are even more favorable for buyers today.
 
Price declines have continued into 2008 and interest rates, although they have inched up lately, have been steady or lower compared to late last year. There have even been wage gains; personal income rose 0.5% in December. Soaring foreclosure rates have added inventory to many housing markets, depressing home prices further.
 
The biggest gains in affordability occurred in California, Michigan and Florida, which are areas that have also been some of the hardest hit by foreclosures. Those states registered 43 of the 50 biggest price declines.
 
Bend, Ore. currently tops the overvaluation list. Home prices there were judged to be about 59% higher than their fair-market value. Miami, despite a median home price decline of 5.7% last year, is the most overvalued big city, by 44%. 
All the best bargains were found in Louisiana and Texas. Houses in Houma, La. were under valued by 31.2%, according to the report. Dallas was the most undervalued big city, by 30%.

Report: Dallas-Fort Worth home prices least likely to drop

by Christie Cannon

 

Report: Dallas-Fort Worth home prices least likely to drop

07:30 AM CST on Wednesday, January 16, 2008

By STEVE BROWN / The Dallas Morning News

Dallas-Fort Worth's housing market is the least likely of any in the country to see a decrease in home values, a new report confirms.

At the same time, the chances of a house price decline rose in almost four out of five U.S. markets, according to a report released Tuesday by mortgage insurance firm PMI Group.

Dallas and Fort Worth ranked dead last in PMI Group's latest forecast of cities with the biggest chance for a home price shakeout.

Analysts with the California-based company estimate that Dallas-Fort Worth has less than a 1 percent chance of marked home price drops in the next two years.

By comparison, cities in California, Nevada and Arizona have more than an 80 percent likelihood of falling residential values.

"We're seeing an increasingly polarized market," PMI economist David Berson said in a news release.

"The risk that home prices will be lower in two years has increased for many of the largest cities in the nation, although areas that saw only moderate home price gains during the 2002-to-2005 period still generally have low risks of price declines," he said.

That's certainly the case in Dallas-Fort Worth, where home price appreciation during the last five years has been a fraction of the national average.

"Because Texas did not participate in the double-digit home price gains in the first half of the decade, it doesn't have to take the great pain of the areas that are compensating for that now," Mr. Berson said in an interview.

Now that the housing sector is in a slump, home values in North Texas have been relatively flat while they are falling in many other major U.S. cities.

In 2007, the median price of homes sold through the North Texas Realtors' multiple listing service was up 1 percent from 2006.

Texas markets – including the D-FW area – were also less affected by investors who ran up prices in some cities, Mr. Berson said.

And most Texas cities are outpacing the rest of the country in overall economics, he said.

"The state economy is doing pretty well, and job growth is above the national average," Mr. Berson said.

"It's quite likely Texas will be doing better than the national average for the foreseeable future," he said.

The D-FW area has gotten high marks in the PMI risk report before.

And other national surveys show that North Texas' housing market is outperforming those in the rest of the country.

Even so, pre-owned home sales were down about 8 percent last year, and sales of new homes fell about 17 percent in 2007.

Foreclosure rates also continue to rise.

Analysts are therefore keeping a close eye on D-FW home prices for signs of deterioration.

"I can't argue with the PMI risk assessment, but it doesn't mean that it still couldn't happen – just not as likely as elsewhere," said Dr. James Gaines, an economist with Texas A&M University's Real Estate Center. "So far, most Texas markets are doing well.

"The metroplex probably will do well to have positive overall appreciation, but pockets within the metroplex will have a rough time for a while."

Indeed, Mr. Berson said, the Texas housing market isn't bulletproof.

"There are no sure things," he said.

"It's possible that some parts of Texas will see some declines in the near term."

But overall, the outlook for the local housing market is good, he said.

 

HOW RISKY IS THE HOUSING MARKET?

 

Markets with the most and least risk of a home price decline, based on price appreciation, economic growth and affordability according to PMI Group, one of the country's largest mortgage insurance firms. An index of 100 means there is a 100 percent chance of home prices falling in the next two years.

 

MOST RISKY

 

Riverside, Calif. 94

Las Vegas 89

Phoenix 83

Santa Ana, Calif. 81

Los Angeles 79

 

LEAST RISKY

 

Fort Worth Less than 1

Dallas Less than 1

Pittsburgh Less than 1

Houston Less than 1

San Antonio Less than 1

SOURCE: PMI Group

 

Active Adult Community-Fairview

by Christie Cannon

Heritage Ranch offers an active adult livestyle for ages 55 and up.  This stunning community features a 24-hour guarded gate entrance, lakes, creeks lined with mature trees and plenty of amenities to keep you busy.  

There is the Heritage Ranch Golf Club, designed by Arthur Hills, which is an 18-hole championship golf course that offers a full-service golf shop, club rentals, locker rooms with showers, driving range and putting green. 

You will also find resturants, shopping and a 24,000 square foot Country Club with an outdoor swimming pool, indoor pool and heated spa, 4 tennis courts, restaurant and lounge, business center, library, billiards, fitness center, arts and crafts room, performing arts theater and banquet facilities.

The housing in Heritage Ranch consists of single family detached homes and duplexes.  Sizes range from 1,500 - 3,400 square feet and from $175,000 - $500,000+.

As a buyer, it does not cost you anything to be represented by a real estate agent, and it will be in your best interest to have someone looking out for you - EVEN IF YOU ARE BUYING NEW.  As a reader of my blog, feel free to ask me about my homebuyers rebate offer, and reduced fee if you plan to buy and sell through me!  For more information on this community or any other, please give me at call at 469-951-9588. 

Displaying blog entries 191-198 of 198

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Photo of Christie Cannon Real Estate
Christie Cannon
Keller Williams Realty
5933 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 972-215-7748
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com