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Buying or Selling a Home? You Need an Expert Kind of Guide

by Christie Cannon

Buying or Selling a Home? You Need an Expert Kind of Guide | MyKCM

 

In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate through the process. You need someone you can turn to who will tell you how to price your home correctly right from the start. You need someone who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer.

We are, however, in anything but a normal market right now. We are amid one of the greatest health crises our nation has ever seen. The pandemic has had a dramatic impact on the journey consumers take to purchase or sell a home. To successfully navigate the landscape today, you need more than an experienced guide. You need a ‘Real Estate Sherpa.’

According to Lexico, a Sherpa is a “member of a Himalayan people living on the borders of Nepal and Tibet, renowned for their skill in mountaineering.” Sherpas are skilled in leading their parties through the extreme altitudes of the peaks and passes in the region - some of the most treacherous trails in the world. They take pride in their hardiness, expertise, and experience at very high altitudes.

They are much more than just guides.

This is much more than a normal real estate market.

Today, the average guide just won’t do. You need a Sherpa. You need an expert who understands how COVID-19 is impacting the thoughts and actions of the consumer (ex: virtual showings, proper safety protocols, e-signing documents). You need someone who can simply and effectively explain the changes in today’s process to you and your family. You need an expert who will guarantee you make the right decision, especially in these challenging times.

Bottom Line

Hiring an agent who understands how the pandemic is reshaping the real estate processes is crucial right now. Let’s connect today to guarantee your journey is a safe and successful one.

Interest Rates Hover Near Historic All-Time Lows

by Christie Cannon

Interest Rates Hover Near Historic All-Time Lows 

Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC] | MyKCM
 

Some Highlights

  • Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level.
  • Locking in at a low rate today could save you thousands of dollars over the lifetime of your home loan.
  • Let’s connect to determine the best way to position yourself for a move in today’s market.

Economy

by Christie Cannon

Housing Market Positioned to Bring Back the Economy

Housing Market Positioned to Bring Back the Economy | MyKCM
 

All eyes are on the American economy. As it goes, so does the world economy. With states beginning to reopen, the question becomes: which sectors of the economy will drive its recovery? There seems to be a growing consensus that the housing market is positioned to be that driving force, the tailwind that is necessary.

Some may question that assertion as they look back on the last recession in 2008 when housing was the anchor to the economy – holding it back from sailing forward. But even then, the overall economy did not begin to recover until the real estate market started to regain its strength. This time, the housing market was in great shape when the virus hit.

As Mark Fleming, Chief Economist of First Americanrecently explained:

“Many still bear scars from the Great Recession and may expect the housing market to follow a similar trajectory in response to the coronavirus outbreak. But, there are distinct differences that indicate the housing market may follow a much different path. While housing led the recession in 2008-2009, this time it may be poised to bring us out of it.”

Fleming is not the only economist who believes this. Last week, Dr. Frank Nothaft, Chief Economist for CoreLogic, (@DrFrankNothaft) tweeted:

“For the first 6 decades after WWII, the housing sector led the rest of the economy out of each recession. Expect it to do so this time as well.”

And, Robert Dietz, Chief Economist for the National Association of Home Builders, in an economic update last week explained:

“As the economy begins a recovery later in 2020, we expect housing to play a leading role. Housing enters this recession underbuilt, not overbuilt…Based on demographics and current vacancy rates, the U.S. may have a housing deficit of up to one million units.”

Bottom Line

Every time a home is sold it has a tremendous financial impact on local economies. As the real estate market continues its recovery, it will act as a strong tailwind to the overall national economy.

The Christie Cannon Team Brings Confidence in a Pandemic: Frisco TX's Top Real Estate Team Adapts to Virtual Market

Thursday, May 14, 2020 11:00 AM

The Christie Cannon Team is the leading Real Estate Team in North Texas and they are redefining the real estate industry by setting an example of proven systems to provide clients a top-notch service using innovative technology when buying and selling homes and are sharing their thoughts and advice in making wise decisions especially during this COVID-19 Pandemic

FRISCO, TX / ACCESSWIRE / May 14, 2020 / Adapting your career to fit the new rules created by COVID-19 is tough, especially in the world of real estate. Luckily, Christie Cannon, Frisco Texas' expert in real estate for over 20 years, has found a way to utilize technology to buy and sell homes virtually. She, and her husband Kevin, along with their entire Team have set up a process to walk their clients through every step of buying or selling a home online. Everything from house hunting, listing, touring, or signing papers can be done through a virtual portal; and Christie's team will be there to give you confidence in your search for the right home or the right buyer.

Christie's Texas based team is one of the top 25 teams with Keller Williams Realty nationwide. They have done over 455 transactions in the past 12 months, with over $150 million dollars in sales. D Magazine has awarded The Christie Cannon Team the "Top Real Estate Producers" every year for nearly a decade. This constant experience is what sets the team apart from other agents and real estate teams. For example, most real estate agents are selling 7-10 homes a year. Christie and her team manage sales each and every day. Each sale brings different experiences, people, and challenges. After working in housing development and managing the team over the course of two decades, Christie has seen it all. Her newest challenge? Adapt the home buying process to fit a digital landscape, and make people feel comfortable with it along the way.

The Cannon Team has already virtually sold multiple houses completely online in the past month. Christie has found that prices have not fallen in her area, but inventory has, which is increasing demand. This means that sellers are seeing multiple offers on their home, and getting the most out of their equity. It also means that The Cannon Team's knowledge of the local market is incredibly valuable. She and her team know your area, so you don't have to and they are ready to hold your hand through finding the perfect home. Also, the level of support which they provide, paired with the quality of their service, creates an environment where clients are in constant communication and it keeps them up to date on the status of their transaction.

In a recent one-on-one interview, Christie mentioned how she and her team has been serving the market while adapting to the new rules and conditions. The level of adaptation that she has seen from people wanting to leverage technology for buying or selling their homes has been increasing day-by-day and the feedback which she has received from her clients has been very positive.

It starts with a free consultation over zoom or phone call. The Cannon Team will send you the best options for your personal situation and help pair you with a buyer or seller. Their job is not to be a salesperson, it is to educate you and take the nerves away from the whole process. "If we do our job well," Cannon said, "our clients will know and feel we have their best interest in mind, not ours."

Once they help clients find a home in their price range, one of the Team's experts can set up a virtual tour and explain every inch of the house over zoom. The client can walk through the home, ask questions, and feel confident before making an offer. When the client falls in love with a home, it's time to get the home under contract, schedule inspections and start planning your move.

On the selling side, The Cannon Team will help you check off all the boxes safely and securely. You can meet with one of the Team's experts in person at your home if you are comfortable, or over a Zoom meeting. The Team's on-staff photographer and stager can meet you at your home, or you can even elect to allow the on-staff stager to help you from afar over a Zoom meeting as you show her around your home. The only in-person meeting you will need to do is with the Team's photographer, who is dressed down in extensive PPE equipment. As a Seller, you can have control over who is entering your home and you can control the showings. The Cannon Team is encouraging "virtual" showings on all of their homes before a buyer steps foot inside to reduce unnecessary exposure. All of The Cannon Team's homes offer 3-D Virtual viewing so you can walk through an entire home without ever stepping foot inside. One of Christie's biggest focuses has been to make sure all the guidelines regarding social distancing and hygiene have been met, therefore she and her team has been working diligently with anyone who visits your property to ensure that all the government requirements and regulations are fully met and are adhered to.

Christie and her team, with their extensive experience and knowledge of the real estate industry have seen all possible emotions which people go through while considering to buy or sell their homes using online means. However, she recommends that people should adapt to the new way of communicating and interacting as the opportunities are rising and whether you are buying or selling, there are plenty of great deals to be had during times like these.

If you are in the market to buy or sell a home, do not let the current pandmeic stop you from getting the care you need. Christie and her team have been offering free consultations to share the entire process with you and answer any of your questions to ensure that you are confident before moving ahead. She has adapted her process to hold your hand through every step, and the only thing between you and finding the home of your dreams is a computer. Christie and her husband Kevin are working everyday to help ensure their Team is servicing the needs of each and every client and home they represent.




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https://finance.yahoo.com/news/christie-cannon-team-brings-confidence-150000645.html

A Surprising Shift to the ‘Burbs May Be on the Rise

by Christie Cannon

A Surprising Shift to the ‘Burbs May Be on the Rise

A Surprising Shift to the ‘Burbs May Be on the Rise | MyKCM
 

While many people across the U.S. have traditionally enjoyed the perks of an urban lifestyle, some who live in more populated city limits today are beginning to rethink their current neighborhoods. Being in close proximity to everything from the grocery store to local entertainment is definitely a perk, especially if you can also walk to some of these hot spots and have a short commute to work. The trade-off, however, is that highly populated cities can lack access to open space, a yard, and other desirable features. These are the kinds of things you may miss when spending a lot of time at home. When it comes to social distancing, as we’ve experienced recently, the newest trend seems to be around re-evaluating a once-desired city lifestyle and trading it for suburban or rural living.

George Ratiu, Senior Economist at realtor.com notes:

“With the re-opening of the economy scheduled to be cautious, the impact on consumer preferences will likely shift buying behavior…consumers are already looking for larger homes, bigger yards, access to the outdoors and more separation from neighbors. As we move into the recovery stage, these preferences will play an important role in the type of homes consumers will want to buy. They will also play a role in the coming discussions on zoning and urban planning. While higher density has been a hallmark of urban development over the past decade, the pandemic may lead to a re-thinking of space allocation.”

The Harris Poll recently surveyed 2,000 Americans, and 39% of the respondents who live in urban areas indicated the COVID-19 crisis has caused them to consider moving to a less populated area.A Surprising Shift to the ‘Burbs May Be on the Rise | MyKCMToday, moving outside the city limits is also more feasible than ever, especially as Americans have quickly become more accustomed to – and more accepting of – remote work. According to the Pew Research Center, access to the Internet has increased significantly in rural and suburban areas, making working from home more accessible. The number of people working from home has also spiked considerably, even before the pandemic came into play this year.

Bottom Line

If you have a home in the suburbs or a rural area, you may see an increasing number of buyers looking for a property like yours. If you’re thinking of buying and don’t mind a commute to work for the well-being of your family, you may want to consider looking at homes for sale outside the city. Let’s connect today to discuss the options available in our area.

Why Home Equity Is a Bright Spark in the Housing Market

by Christie Cannon

Why Home Equity Is a Bright Spark in the Housing Market

Why Home Equity is a Bright Spark in the Housing Market | MyKCM
 

Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more increase their employment opportunities. Breaking down what unemployment means for homeownership, and understanding the significant equity Americans hold today, are important parts of seeing the picture clearly when sorting through this uncertainty.

One of the biggest questions right now is whether this historic unemployment rate will initiate a new surge of foreclosures in the market. It’s a very real fear. Despite the staggering number of claims, there are actually many reasons why we won’t see a significant number of foreclosures like we did during the housing crash twelve years ago. The amount of equity homeowners have today is a leading differentiator in the current market.

Today, according to John Burns Consulting58.7% of homes in the U.S. have at least 60% equity. That number is drastically different than it was in 2008 when the housing bubble burst. The last recession was painful, and when prices dipped, many found themselves owing more on their mortgage than what their homes were worth. Homeowners simply walked away at that point. Now, 42.1% of all homes in this country are mortgage-free, meaning they’re owned free and clear. Those homes are not at risk for foreclosure (see graph below):Why Home Equity is a Bright Spark in the Housing Market | MyKCMIn addition, CoreLogic notes the average equity mortgaged homes have today is $177,000. That’s a significant amount that homeowners won’t be stepping away from, even in today’s economy (see chart below):Why Home Equity is a Bright Spark in the Housing Market | MyKCMIn essence, the amount of equity homeowners have today positions them to be in a much better place than they were in 2008.

Bottom Line 

The fear and uncertainty we feel right now are very real, and this is not going to be easy. We can, however, see strength in our current market through homeowner equity that has not been there in the past. That may be a bright spark to help us make it through.

U.S. Homeownership Rate Rises to Highest Point in 8 Years

by Christie Cannon

U.S. Homeownership Rate Rises to Highest Point in 8 Years

U.S. Homeownership Rate Rises to Highest Point in 8 Years | MyKCM
 

For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments. It is a whole new way of life that has put our daily lives on pause. On the other hand, many of us have also found a sense of comfort by slowing down and spending time at home, highlighting the feeling of security that comes with having a much-needed safe place for our families to live.

The latest results of the Housing Vacancy Survey (HVS) provided by the U.S. Census Bureau shows how Americans place immense value in homeownership, and it is continuing to grow in the United States. The results indicate that the homeownership rate increased to 65.3% for the first quarter of 2020, a number that has been rising since 2016 and is the highest we’ve seen in eight years (see graph below):U.S. Homeownership Rate Rises to Highest Point in 8 Years | MyKCMWhy is the rate increasing? The National Association of Home Builders (NAHB) explained:

“Strong owner household formation with around 2.7 million homeowners added in the first quarter has driven up the homeownership rate, especially under the decreasing mortgage interest rates and strong new home sales and existing home sales in the first two months before the COVID-19 pandemic hit the economy.”

The NAHB also emphasizes the year-over-year increase in each generational group:

“The homeownership rates among all age groups increased in the first quarter 2020. Households under 35, mostly first-time homebuyers, registered the largest gains, with the homeownership rate up 1.9 percentage points from a year ago. Households ages 35-44 experienced a 1.2 percentage points gain, followed by the 55-64 age group (a 0.9 percentage point increase), the 45-54 age group (a 0.8 percentage point gain), and the 65+ group age (up by 0.2 percentage point).” (See chart below):

U.S. Homeownership Rate Rises to Highest Point in 8 Years | MyKCMHomeownership is an important part of the American dream, especially in moments like this when many are feeling incredibly grateful for the home they have to shelter in place with their families. COVID-19 may be slowing our lives down, but it is showing us the emotional value of homeownership too.

Bottom Line

If you’re considering buying a home this year, let’s connect to set a plan that will help you get one step closer to achieving your dream.

Housing Could Be A Leader In The Post-Pandemic Economy

by Christie Cannon
Home sales will be hard hit by the pandemic but could bounce back. (Steve Brown)

 

 
Housing could be a leader in the post-pandemic economy
By Steve Brown | Real Estate Editor
 
 
Heading into the pandemic, North Texas’ housing market was seeing record sales and rising prices.

And when the worst of the COVID-19 economic downturn is past, the home market could be one of the best parts of the Dallas-Fort Worth and statewide economy, a top real estate economist predicts.

"Housing could be well be the leader in bringing the rest of the economy up out of the doldrums," Dr. James Gaines, chief economist at the Real Estate Center at Texas A&M University said. "We are going to have historically low interest rates that could boost the market.

"Housing could well be one of the leading industry sectors that gets us out," he said. "Home construction will come back - I think it will be prime recovery activity."

Gaines on a conference call told members of the MetroTex Association of Realtors that the outlook for this year’s housing market was strong before the virus shut things down.

"We expected 2020 to be a good year but now all bets are off," he said. "March is probably going to be the last good month for housing for a while. April and May are probably going to be way down."

Home buying while significantly reduced hasn’t completely stopped, he said.

"There is going to be activity – it’s not going to go away altogether," Gaines said.
Gaines said with many homebuyers and sellers sitting out the pandemic, purchase activity could bounce back later this year.

"There is going to be some pent up demand," he said. "Typically, we would be right in the middle of the busy buying season here in April, May and June.

"It may be July, August and September will be our best months of the year," Gaines said.

Before the pandemic, there was already a shortage of housing in D-FW and other markets.

With fewer homes coming on the market, the lack of homes to buy is likely to get worse.

Of course, a rebound in home purchases is also dependent on if the millions of people who’ve been laid off and furloughed go back to work later this year.

Mortgage lenders have been raising their credit requirements because of concerns about the economy.

"The lenders are getting nervous," Gaines said. "They are making the loans tougher – a little tighter."

While almost 4 million Americans have sought forbearance from mortgage payments because of the pandemic, it’s still too early to tell how many of them could eventually lose their homes because of lost wages.

"Are we going to wind up with another wave of distressed properties?" Gaines said. "It’s all a function of the degree and speed people are rehired."
 
 
Article Provided by: Steve Brown with Dallas Morning News
 
Visit Cannonteamhomes.com for more!

Spring Home Buying Recovering From Coronavirus

by Christie Cannon

"We estimate that there are currently 29 states that have a housing deficit, and when we consider only these states, the housing shortage grows from 2.5 million units to 3.3 million units

Texas currently is experiencing a 4.81% deficit in housing supply

- from the Freddie Mac Report - The Housing Supply Shortage: State of the States ​

 

Contact one of our expert agents today if you are looking to buy or sell and want to know your options during the Coronavirus.  Our team is always here to help and educate!

972-215-7747 | cannonteamhomes.com

The novel coronavirus was unable to dampen the interest of homebuyers in the past week.

Even as people follow stay-at-home guidelines, the number of people filing home purchase applications rose 12 percent on a seasonally adjusted basis, according to the Mortgage Bankers Association.

That's the strongest level in almost a month.

"The ten largest states had increases in purchase activity, which is potentially a sign of the start of an upturn in the pandemic-delayed spring homebuying season, as coronavirus lockdown restrictions slowly ease in various markets,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. “California and Washington continued to show increases in purchase activity, with New York seeing a significant gain after declines in five of the last six weeks.”

Helping to boost purchase interest was a decline in mortgage rates to 3.43 percent for a 30-year mortgage, a record low in MBA's survey.

"Refinance activity declined 7 percent, as rates for refinances likely remained higher than those for purchase loans, " said Kan. "Lenders are still working through pipelines at capacity, and observed changes in credit availability for refinance loans have also in turn impacted rates.”

Overall demand for mortgage applications fell 3.3 percent from the prior week.

The survey covers over 75 percent of all U.S. retail residential mortgage applications and has been conducted weekly since 1990.

Keys to Selling Your House Virtually

by Christie Cannon

Keys to Selling Your House Virtually

Keys to Selling Your House Virtually | MyKCM
 

In a recent survey by realtor.com, people thinking about selling their homes indicated they’re generally willing to allow their agent and some potential buyers inside if done under the right conditions. They’re less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days. The question is, if you need to sell your house now, what virtual practices should you use to make sure you, your family, and potential buyers stay safe in the process?

In today’s rapidly changing market, it’s more important than ever to make sure you have a digital game plan and an effective online marketing strategy when selling your house. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home.

So, if you’re ready to move forward, virtual practices may help you win big when you’re ready to sell. While abiding by state and local regulations is a top priority, a real estate agent can help make your sale happen. Agents know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to the same survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:

  • Virtual tour of the home
  • Accurate and detailed listing information
  • Detailed neighborhood information
  • High-quality listing photos
  • Agent-led video chat

After leveraging technology, if you have serious buyers who still want to see your house in person, keep in mind that according to the National Association of Realtors (NAR), there are ways to proceed safely. Here are a few of the guidelines, understanding that the top priority should always be to obey state and local restrictions first:

  • Limit in-person activity
  • Require guests to wash their hands or use an alcohol-based sanitizer
  • Remove shoes or cover with booties
  • Follow CDC guidance on social distancing and wearing face coverings

Getting comfortable with your agent – a true trusted advisor – taking these steps under the new safety standards might be your best plan. This is especially important if you’re in a position where you need to sell your house sooner rather than later.

Nate Johnson, CMO at realtor.com ® notes:

"As real estate agents and consumers seek out ways to safely complete these transactions, we believe that technology will become an even more imperative part of how we search for, buy and sell homes moving forward."

It sounds like some of these new practices might be here to stay.

Bottom Line

In a new era of life, things are shifting quickly, and virtual strategies for sellers may be a great option. Opening your doors up to digital approaches may be game-changing when it comes to selling your house. Let’s connect so you have a trusted real estate professional to help you safely and effectively navigate through all that’s new when it comes to making your next move.

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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