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Inventory v/s Demand Creates Luxurious Opportunity for Buyers

by Christie Cannon

Shifting Inventory in North TX Creates Opportunity.

A Tale of Two Markets: A 6-Month Update | MyKCM

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 Realtors latest Existing 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.

A Tale of Two Markets: A 6-Month Update | MyKCM

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.

 

Christie Cannon

The Christie Cannon Team

Keller Williams Frisco TX

469-951-9588

www.ChristieCannon.com

We are BEYOND thankful for all of our clients! We would not be here where we are without you.

As Featured on the KW.com Blog:

Relationships have formed the foundation for successful businesses for centuries, but how those relationships can benefit a business has evolved over time. Today, client relationships that result in referrals can fuel your growth and success both online and off.

Christie Cannon, a Keller Williams Luxury Homes International agent who specializes in Frisco and its surrounding communities north of Dallas, has put those referrals to work for her in a Texas-sized way.

Christie Cannon Keller Williams OutFront

“More than half of our business comes from referrals,” Cannon says. Through sourcing her business, Cannon finds that many new clients heard about her from a previous client.

Cannon’s results speak for themselves. Her team closed $112 million in sales in 2016, a 28 percent increase from the previous year. The results are particularly remarkable given the unexpected challenge they were presented.  

Cannon’s husband and team member, Kevin Cannon, was diagnosed with stage two breast cancer. He began aggressive chemotherapy, followed by a double mastectomy and 30 radiation treatments.  

“It was heartbreaking for us. We were unsure where the situation would take us,” says Christie. “Thankfully, Kevin is now fully recovered and back to working full time. The challenge really brought to light how strong our team is. Everyone rallied together to create the best year yet.” 

Upward momentum continues for Cannon and her team.  They currently have 65 active listings and 50 pending transactions, not to mention plans for a 20 percent increase in production this year. This projected growth undoubtedly will be aided by her strong referral program.

 

Cannon builds a strong referral program

“Reaching out to current, past and future clients is so important because they all have a referral to give,” she says. “The most important part of building a referral-based business is building strong business relationships with your clients along the way.”

In order to build those relationships, Cannon and her team have created a solid referral protocol for each and every one of her customers and clients. “Every person in our database is on an action plan of some kind. Each action plan is set up to cater to the specific needs of each contact. The activities in our action plans will vary, but they all include offering something of value to each person. Our contacts are the heart of our company, and we treat them as such.”

When the team receives a referral, the client is sent a handwritten thank-you card as well as a small gift. That strategy has paid dividends dating back to Cannon’s very first client in 2003.

“Ironically enough, one of my very first transactions was a small $48,000 home, and to this date, that client has completed five other transactions with me and is still referring business to me,” she says. “I started getting my systems in place early on, and the systems are what helped me get organized and get in touch to grow and foster relationships with my clients. They have helped us maintain a consistent year-over-year growth pattern and get to where we are now.”

The value of referrals

Now that Cannon and her team are part of KW Luxury International, she has discovered that those referrals are even more valuable to her success.

“Luxury home buyers and sellers are very seasoned,” Cannon says. “They rely heavily upon advice from people they trust. Keeping your name in front of the luxury market is important in maintaining a strong referral base.”

While clients are the first ones that referral strategies are typically aimed at, Cannon also works hard to earn referrals from her local real estate colleagues and peers. To that end, she is committed to participating in networking events with other agents in and around her area. The best method she has found for earning those referrals is an unyielding dedication to professionalism.

“We have had agents – even within our own area – refer business to us,” she says. “It is such an honor to get a referral from another colleague. It’s important to maintain a professional relationship with not only your clients but also with your colleagues, as you may work with them multiple times over.”

Keep clients first

For agents who are working to assemble a solid referral strategy, Cannon suggests keeping the client as your central focus.

“A big mistake I see in a lot of agents is making this business all about them,” she says. “While we want to brand ourselves and relate to our clients, it’s not about you. This business is about catering to the needs of our clients and offering them a service and skill they can’t get anywhere else.”

Lead generate, lead generate, lead generate

In order to increase the amount of referrals you receive, Cannon suggests going back to the basics. “The models and systems are there, so don’t skimp on your lead generation,” she says. “As part of your lead generation, you should be reaching out to your sphere and past clients every day. Put everyone you know into your CRM and get them set up on some type of action plan. Reach out to your contacts on a regular basis by sending handwritten notes, making phone calls and sending items of value to them. This is all part of an action plan.”

Cannon stresses that an action plan only works if you keep your clients’ needs in mind.

“If you’re sending something of value to your contacts, they have a reason to continue to receive information from you,” she says.

At the end of the day, Cannon credits the Keller Williams models and systems for her team’s impressive growth.

“It took me trying to invent my own models and systems several times over and failing before I realized how much Keller Williams has to offer,” she says. “We will continue to improve and streamline our systems as we grow and plan on attending Family Reunion and Mega Camp each year. The best is yet to come!”

Cannon’s story illustrates how past clients are one of the most reliable sources for leads, but it takes consistent follow-up with your database to ensure that you remain top-of-mind.

The Christie Cannon Team | Keller Williams Frisco TX | www.christiecannon.com

4783 Preston Rd #300 Frisco TX

Christie Cannon Interviewed by Keller Williams

by Christie Cannon

Relationships have formed the foundation for successful businesses for centuries, but how those relationships can benefit a business has evolved over time. Today, client relationships that result in referrals can fuel your growth and success both online and off.

Christie Cannon, a Keller Williams Luxury Homes International agent who specializes in Frisco and its surrounding communities north of Dallas, has put those referrals to work for her in a Texas-sized way.

Christie Cannon Keller Williams OutFront“More than half of our business comes from referrals,” Cannon says. Through sourcing her business, Cannon finds that many new clients heard about her from a previous client.

Cannon’s results speak for themselves. Her team’s current closed sales for 2014 top $60 million with 20 current listings and 31 contracts in closing, not to mention plans for a 20 percent increase in production in 2015. Those plans undoubtedly will be aided by her strong referral program.

“Reaching out to current, past and future clients is so important because they all have a referral to give,” she says. “The most important part of building a referral-based business is building strong business relationships with your clients along the way.”

In order to build those relationships, Cannon and her team have created a solid referral protocol for each and every one of her customers and clients. “Every person in our database is on an action plan of some kind. Each action plan is set up to cater to the specific needs of each contact. The activities in our action plans will vary, but they all include offering something of value to each person. Our contacts are the heart of our company, and we treat them as such.”

When the team receives a referral, the client is sent a handwritten thank-you card as well as a small gift. That strategy has paid dividends dating back to Cannon’s very first client in 2003.

“Ironically enough, one of my very first transactions was a small $48,000 home, and to this date, that client has completed five other transactions with me and is still referring business to me,” she says. “I started getting my systems in place early on, and the systems are what helped me get organized and get in touch to grow and foster relationships with my clients. They have helped us maintain a consistent year-over-year growth pattern and get to where we are now.”

Now that Cannon and her team are part of KW Luxury Homes International, she has discovered that those referrals are even more valuable to her success.

Luxury home buyers and sellers are very seasoned,” Cannon says. “They rely heavily upon referrals. Keeping your name in front of the luxury market is important in maintaining a strong referral base.

While clients are the first ones that referral strategies are typically aimed at, Cannon also works hard to earn referrals from her local real estate colleagues and peers. To that end, she is committed to participating in networking events with other agents in and around her area. The best method she has found for earning those referrals is an unyielding dedication to professionalism.

“We have had agents – even within our own area – refer business to us,” she says. “It is such an honor to get a referral from another colleague. It’s important to maintain a professional relationship with not only your clients but also with your colleagues, as you may work with them multiple times over.”

For agents who are working to assemble a solid referral strategy, Cannon suggests keeping the client as your central focus and going back to basics to increase your referrals.

“A big mistake I see in a lot of agents is making this business all about them,” she says. “While we want to brand ourselves and relate to our clients, it’s not about you. This business is about catering to the needs of our clients and offering them a service and skill they can’t get anywhere else.”

With the client as your central focus, Cannon suggests going back to basics in order to up your referrals.

“The models and systems are there, so don’t skimp on your lead generation,” she says. “As part of your lead generation, you should be reaching out to your sphere and past clients every day. Put everyone you know into your CRM and get them set up on some type of action plan. Reach out to your contacts on a regular basis by sending handwritten notes, making phone calls and sending items of value to them. This is all part of an action plan.”

Cannon stresses that an action plan only works if you keep your clients’ needs in mind.

“If you’re sending something of value to your contacts, they have a reason to continue to receive information from you,” she says.

‘‘At the end of the day, Cannon credits the Keller Williams models and systems for her team’s impressive growth.

“It took me trying to invent my own models and systems several times over and failing before I realized how much Keller Williams Realty has to offer,” she says. “When I come across a topic I need another perspective on, I love that I can scan through interviews on Agent Mountain and find several interviews on that topic to help me. I love attending Family Reunion and Mega Camp. Both have helped me grow and improve year over year.”

 

To Contact Christie Cannon of Keller Williams Frisco TX, please call Christie Cannon at 469-951-9588 or email her at christie@christiecannon.com

Concerts in the Courtyard at Willow Bend Plano

by Christie Cannon

Concerts in the Courtyard | October 21 | 6:30 to 8:30pm

Our third concert is this Friday!

It is Walk this Way an Aerosmith Tribute Band. They put on an authentic tribute to the sights and sounds of the original Bad Boys from Boston. Walk This Way performs a wide variety of Aerosmith hits spanning four decades. As well as fan favorites from classic albums such as Draw the Line, Rocks, Toys in the Attic, Permanent Vacation, Pump, Get a Grip, and many more!

Hope to see you there!

 

 

 

 

 

Christie Cannon named among America's Best Real Estate Agents

by Christie Cannon

 

Christie Cannon Named to REAL Trends' America’s Best Real Estate Agents in Frisco, TX.

Christie Cannon of Keller Williams Realty Frisco was named one of America’s most productive sales associates as a part of REAL Trends America’s Best Real Estate Agents, the newly issued ranking report produced by REAL Trends and sponsored by Zillow Group.  Cannon’s Team is now a member of the “America’s Best Real Estate Agents,” and ranked number 14 for the state of Texas.  

REAL Trends America’s Best Real Estate Agents ranks over 12,000 residential real estate professionals solely based on their excellence in real estate sales during calendar year 2015. All production numbers are independently verified by a third-party in order to ensure accuracy and report integrity. This group of highly successful real estate sales agents represents less than 1 percent of all real estate practitioners in the United States.

The real estate professionals are ranked in four categories:

• Individual agent — Sales volume
• Individual agent — Transaction sides (in each real estate transaction there are two sides that can be represented by a real estate agent: the buy side and the selling side)
• Agent team — Sales volume
• Agent team — Transaction sides

To qualify for inclusion, an individual agent must have closed at least 50 transaction sides or $20 million in sales volume in 2015. For real estate agent teams, the minimum is 75 transaction sides or $30 million in closed sales volume.

“The average residential real estate agent in the United States closed fewer than eight transactions in 2015 and had less than $1.5 million in sales,” says Steve Murray, publisher of REAL Trends America’s Best Real Estate Agents and president of REAL Trends. “To say that Christie Cannon is an exceptional sales professional is an understatement. To attain this level of sales is truly outstanding.”

“We are also pleased that two of the nation’s most prominent online real estate websites, Trulia® and Zillow®, have partnered with REAL Trends to bring a superior level of customer exposure of these sales agents’ performance,” Murray added.

Information on those receiving this recognition can be found online at http://www.americasbestre.com

“I am obviously pleased and honored to be ranked on this ranking of the country’s top residential real estate agents,” said Christie Cannon, “It represents the time and effort that we put into each client that we serve and how much work it takes to build a successful real estate career. The level of sales it takes to qualify makes it a truly special recognition.”

ABOUT REAL TRENDS

REAL Trends is a Castle Pines, Colorado-based real estate publishing and consulting firm that offers a wide range of research and advisory services to the residential real estate industry. Recognized as the leading source of trends in the industry, REAL Trends also publishes the REAL Trends The Thousand, as advertised in The Wall Street Journal and the REAL Trends 500, which ranks the top brokerage firms in the United States.

Zillow is a registered trademark of Zillow, Inc. Trulia is a registered trademark of Trulia, LLC. These marks are used with permission.

New Build Inventories are Seeing a New Peak

by Christie Cannon

 

 

Many experts have been calling upon home builders to ramp up construction to help with the lack of existing inventory for sale. For the past two months, new home sales have surged, with July’s total coming in at the highest since October 2007.

The latest estimates from the US Census Bureau and Department of Housing and Urban Development show that sales in July were31.3% higher than this time last year, and 12.4% higher than last month, at a seasonally adjusted annual rate of 654,000. 

 Zillow’s Chief Economist, Svenja Gudell, echoed the reaction of some as she commented:

“July(‘s) new home sales data was a surprise, but a welcome one. For years, the market has been practically begging builders to both ramp up their efforts overall and to put more focus on serving the less expensive end of the market. Today's data confirms both are happening in earnest.”

 The National Association of Home Builder’s (NAHB) Chairman, Ed Brady, didn’t seem as surprised:

 “This rise in new home sales is consistent with our builders’ reports that market conditions have been improving. As existing home inventory remains flat, we should see more consumers turning to new construction.”

  NAHB’s Chief Economist, Robert Dietz, believes this is just the start for new home sales if market conditions continue:

  “July’s positive report shows there is a need for new single-family homes, buoyed by increased household formation, job gains and attractive mortgage rates. This uptick in demand should translate into increased housing production throughout 2016 and into next year.”

  The existing home sales numbers for July will be released today and will shed more light on the overall health of the housing market.

Bottom Line

New home sales hit their highest mark in over 9 years. Buyers are out in force to find a home that fits their needs. Many are turning to new construction, as the inventory of existing homes has not been able to keep up with demand.

Christie Cannon of Keller Williams Frisco Named One of America’s

Top 1,000 Real Estate professional Teams BY
Real Trends, As advertised IN

THE WALL STREET JOURNAL

Christie Cannon, From Frisco TX, Had an Impressive 2015 on Her Way to Becoming One of DFW’s Top Professionals  

Christie Cannon of Keller Williams Frisco was named one of America’s top real estate professional teams by REAL Trends, as advertised in The Wall Street JournalHer Team is now a member of the “The Thousand Top Real Estate Professionals,” a prestigious national awards ranking sponsored annually by REAL Trends and advertised in The Wall Street JournalCannon is now ranked in the top one half of 1 percent of the more than 1.1 million Realtors® nationwide.

The Thousand real estate professionals was announced on June 24, 2016, with four separate categories honoring the top 250 residential agents and agent teams for excellence in:

  • Individual Sales Professionals—Sales volume
  • Individual Sales Professionals—Transaction sides (in each real estate transaction, there are two sides that can be represented by a real estate agent: a buyer’s and a seller’s.)
  • Team Professionals—Sales volume
  • Team Professionals—Transaction sides  

For the second year, REAL Trends has added two new categories to The Thousand ranking based off of average sales price. This new category is broken down into the top 50 residential agents and agent teams for excellence in:

  • Individual Sales Professionals – Average Sales Price
  • Team Professionals – Average Sales Price

According to The Thousand, Cannon had 270 home sales totaling over 97-million in home sales, ranking 235th, in the nation.

“The best individual agents and teams—including Cannon’s award-winning efforts—were nothing short of phenomenal considering the challenges in today’s complex housing market,” said Steve Murray, founder of REAL Trends, a Denver-based consulting, publishing and communications company and The Trusted Source that complies the yearly, third-party verified list.

“Becoming a member of such an elite group as The Thousand is an incredible accomplishment in any market, but what Christie Cannon did during these challenging times is impressive on so many levels,” said Marti Gallardo, vice president of classified advertising for The Wall Street Journal.  “Cannon's efforts topped 99.99 percent of the more than 1.1 million Realtors nationwide.”

“I am absolutely thrilled to be named to The Thousand,” said Cannon, who serves clients primarily in Collin, Denton, & Dallas Counties.  “It’s incredibly gratifying to help clients find their dream homes as well as help them sell their properties quickly and for the highest price possible.”

The ranking of The Thousand can be found at:

          www.thethousandrealestateprofessionals.com 

About The Thousand - This awards program was developed jointly by WSJ. Custom Studios (and is not affiliated with the Editorial Department) and REAL Trends, a leading source of analysis and information for the residential real estate brokerage industry. REAL Trends The Thousand honors America’s elite real estate professionals and their companies and is compiled and analyzed by REAL Trends with a special ad section included in The Wall Street Journal

TV Real Estate Myths!

by Christie Cannon

So by now we have all seen the myriad of TV Real Estate Shows - you know the shows where lovely couples are generally seeking out starter homes at prices that would make our average North Texas' buyers pass-out.  As a long-time agent and someone who has been asked by producers to participate in such shows, I am often asked what is the Reality v/s the Realty? I came across the below blog post from a Real Estate Magazine that discusses that very question.  By now most of this may be fairly common knowledge, but I thought it may also be a little fun.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.

Truth: There may be buyers who fall in love and buy the first home they see, but more often than not the process of buying a home means touring more than three homes. (We often see buyers who understandably want to tour & examine dozens of homes before they are comfortable making such an expensive decision.)

Myth #2: The houses the buyers are touring are still for sale.

Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.

Myth #3: The buyers haven’t made a purchase decision yet.

Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.

Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.

Truth: Of course this would be great! Open Houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular showing appointments as well. (Open Houses are a great tool, but really are only 1 of many options.  Likewise, despite marketing, an Open House’s success is often very dependent on a home’s location, the communities’ traffic, & the proximity to New Home communities.)

Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.

Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their home and move on with their life/goals.

My take away - Like most things on TV, these shows are all about having some fun; so relax & enjoy.  As a watcher of renovation shows, I fully understand that kitchen remodels take longer than 3-days; adding granite + new tile doesn’t really raise the value $25k; & no matter how easy it looks on TV, I will never be able to make a cute coffee table out of a reclaimed shipping pallet  -– but I still enjoy watching them!

 

 


How Much Have Texas' Home Values Risen?

by Christie Cannon

The fast pace of North Dallas' Real Estate market often has people asking about where prices are headed v/s where prices have been.  

As we have previously reported, each quarter Freddie Mac releases their Home Price Index, tracking national & local statistics.  One of the most compelling illustrations of how high values have risen can be found in the above map, reflecting overall state values as a percentage of their increase over Pre-2008 Peak Values.  Texas' value, as a whole, ranks 3rd behind North Dakota & Colorado for their percent over Peak Values.

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Realty Frisco 

469.951.9588: Mobile

972.215.7747: Office

www.christiecannon.com

  

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Name among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

#1 Keller Williams Agent 2011-2015

Top 100 Agents in the Nation / KW

 


Frisco, TX Real Estate Market - July's numbers in Review!

by Christie Cannon

 

 
July Numbers from MetroTex for Frisco's home stats are below!

The take-away
- Price up from last year about 2%. 
- # of homes sold down about 9%. 
- # of homes listed for sale down 

July 2016 
•318 – Homes sold, down 9.4 percent from July 2015.
•$383,500 – Median sales price for homes, 2.3 percent higher than July 2015.
•$424,829 – Average sales price for homes, a 5.3 percent increase.
•3.3 – Monthly housing inventory estimate.
•36 – Average number of days homes spent on the market in July 2016.
•853 – Active home listings on the market in July 2016.

Year-to-Date Market Snapshot
•1823 – Homes sold, 0.9 percent lower than the same time frame in 2015.
•$776,513,998 – Total dollar volume of sales in Frisco, a 4.4 percent increase over 2015.
•$387,500 – Median sales price for homes, a 5.9 percent increase.
•$425,954 – Average sales price for homes, a 5.3 percent increase.
•41 – Average number of days homes spent on the market.
•685 – Average monthly active home listings.

 

Have Questions about your community or your home?  Please give me a call!

Christie Cannon  REALTOR

The Christie Cannon Team

Keller Williams Realty Frisco 

469.951.9588: Mobile

972.215.7747: Office

www.christiecannon.com

  

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Name among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

#1 Keller Williams Agent 2011-2015

Top 100 Agents in the Nation / KW

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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