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What Can Interest Rates Do to Your Purchasing Power?

Thursday, May 31, 2018
by Christie Cannon

How Current Interest Rates Can Have a High Impact on Your Purchasing Power

How Current Interest Rates Can Have a High Impact on Your Purchasing Power | MyKCM

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history!

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford to buy will decrease if you plan to stay within a certain monthly housing budget.

The chart below shows the impact that rising interest rates would have if you planned to purchase a home within the national median price range while keeping your principal and interest payments between $1,850-$1,900 a month.

How Current Interest Rates Can Have a High Impact on Your Purchasing Power | MyKCM

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000). Experts predict that mortgage rates will be closer to 5% by this time next year.

Act now to get the most house for your hard-earned money.

 

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

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What are your plans for Memorial Day weekend?

Thursday, May 24, 2018
by Christie Cannon

 

Memorial Day Weekend is quickly approaching and with it comes plenty of events to get you outside to celebrate. Whether you are looking to enjoy food, hang out with friends, or take some time to remember our fallen soldiers, there’s an event for everyone!

Bike the Bricks
The city of McKinney is holding its ninth annual Bike the Bricks Criterium on Friday, May 25th from 2:30-11:30pm in Historic Downtown McKinney. Come & enjoy this free event in Downtown McKinney!

Carry the Load
Carry The Load's 2018 Memorial May Campaign to brings awareness to the True Meaning of Memorial Day. Funds raised during Memorial May provide direct support for healing of the mind, body and souls of our nation's military veterans, law enforcement, firefighters, first responders and their families. 

National Cemetery Administration
National Cemetery Administration will host Memorial Day ceremonies at VA national cemeteries across the country with the help of local communities.Dallas-Fort Worth National Cemetery will be holding their ceremony on May 28th at 11:00am.

Dallas Arboretum
Kick-off the holiday weekend with a concert by one of Dallas’ best party bands, The Grooves. Free admission all four days for active duty members, veterans and first responders. On Memorial Day, the events continue with face painting and a petting zoo in the Pecan Grove. Enjoy $2 hot dogs and root beer floats!

Granbury Square
Granbury, Texas is celebrating with a big 3 day patriotic festival around the downtown historic square with family activities, market booths,  live music, vintage military vehicles, hot dog eating contest, a special children’s play area and much more.

Fur Fun Run
Benefiting Patriot PAWS Service Dogs, the Memorial Day weekend paw-triotic run and walk is a fantastic event for the entire family and a terrific way to salute service dogs and the veterans they assist. Come down to Noble Ray Brewing on Saturday, May 26th for the pawtactular event!

Dallas Symphony Memorial Day Concert & Fireworks Display
In honor of America's veterans and first responders, the Dallas Symphony Orchestra presents a stirring concert of patriotic tunes that's free for the whole family. Pack a picnic and enjoy an evening under the stars. May 28th at 8:15pm at Flagpole Hill in Dallas.

International Foosball Promotions Texas State Championships
The Texas State Championships are being held this May 25-28 at the Westin Hotel in Irving. With competitors at every level from Beginner to master this is sure to be an exciting event!

National Polka Festival
The National Polka Festival® in Ennis, Texas invites you to come help celebrate fifty-two wonderful years of Czech heritage festivities Friday through Sunday, May 25-27, 2018.  Experience traditions, religious customs, dancing, tastes, sights, sounds, and "a little bit of the Czech Lands" throughout historic downtown Ennis and at our three spacious air conditioned halls.

Sunset at Memorial Park
Sunset Bike Ride & Ceremony on Monday, May 28th from 7:00-8:00pm at the Plano Veteran’s Memorial. No Fee to Participate & Free commemorative pin to the first 50 riders!

Summer Blast in Grapevine
Memorial Day Weekend kicks off Grapevine’s annual SummerBlast. SummerBlast features fun for the whole family including water parks, spectacular fireworks show set to music over Lake Grapevine, special exhibits, outdoor activities, dining, shopping and more.

 

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

 

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Kevin Cannon with Zach Sams on Working Title RADIO Show

Wednesday, May 23, 2018
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.

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LPGA Tour Comes to The Tribute & Old American Golf Course

Monday, April 30, 2018
by Christie Cannon

Gorgeous custom homes & stunning sunsets in a lake setting are not the only things that The Tribute has to offer!  Starting this week, Volunteers of America will be hosting the LPGA Texas Classic at The Old American Golf Club in The Tribute!  

Savor Dallas partnered with the Tour & Dallas' best celebrity chefs & local restaurants to present a Tasting Village.  This unique experience will offers a taste of TX's best flavors as well as local & national craft breweries, wine, & spirits!

Tickets are available here: https://www.voatexaslpga.com/tickets/

EVENT SCHEDULE:

 

Monday, April 30th

GATES CLOSED

All Day                              Practice Rounds

12:00pm Shotgun           Crew Dallas Classic Pro-Am

1:00pm Tee Times          Monday Qualifier, Hurricane Creek Country Club

 Tuesday, May 1st
8:00am – 4:00pm          Gates Open

All Day                               Practice Rounds, Old American Golf Club

6:30pm                               Official Pairings Party, Omni Frisco

 

Wednesday, May 2nd 
7:00am – 4:00pm          Gates Open

7:00am – 9:10am           Official Pro-Am Morning Wave

12:20pm – 2:30pm        Official Pro-Am Afternoon Wave

 

Thursday, May 3rd 
7:00am – 4:00pm          Gates Open

7:00am – 9:00am           First Round Morning Tee Times

9:30am – 12:30pm         Television Coverage, The Golf Channel

12:00pm – 2:00pm         First Round Afternoon Tee Times

 

Friday, May 4th  
7:00am – 4:00pm          Gates Open

7:00am – 9:00am           Second Round Morning Tee Times

9:30am – 12:30pm          Television Coverage, The Golf Channel

12:00pm – 2:00pm          Second Round Afternoon Tee Times

2:00pm – 6:00pm            Tasting Village presented by Savor Dallas

 

Saturday, May 5th

8:00am – 4:00pm          Gates Open

8:25am – 2:45pm            Third Round Tee Times

2:00pm – 6:00pm           Tasting Village presented by Savor Dallas

4:30pm – 7:00pm            Television Coverage, The Golf Channel

 

Sunday, May 6th

8:00am – 4:00pm         Gates Open

8:25am – 2:45pm          Final Round Tee Times

4:30pm – 7:00pm          Television Coverage, The Golf Channel

Following Play                 Awards Ceremony, 18th Green

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Interest Rate Changes can Cost Huge!

Sunday, March 18, 2018
by Christie Cannon

The Cost of Waiting to Purchase on Interest Rates

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 rates hit 5% to start searching for your dream home!

If you are looking to find out more information about the local North Dallas Real Estate Market, please give us a call.  We would be delighted to answer your real estate questions.  Likewise, we would be happy to refer a quality local lender to answer your mortgage questions!

Christie Cannon | Keller Williams Frisco | 469-951-9588

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Christie Cannon Featured on The Working Title Podcast

Monday, March 5, 2018
by Christie Cannon

Christie Cannon was recently featured on The Working Podcast with Zach Sams of Kensington Vanguard.  In case you missed it, please find the entire podcast below and be sure to check out Christie on American Dream TV. 

Zach invites Christie Cannon of the Christie Cannon Team with Keller Williams on to the show to talk about the modular design of her full-suite team and their uncanny ability to cement themselves as one of the top Real Estate teams in the often unpredictable Dallas/ Fort Worth market year after year before digging into her upcoming segment on The American Dream TV and how she'll be filling home sellers in on the secret to selling without spending a dime this Saturday (March 3rd, 2018) at 1pm on TXA 21. For more about Christie and her team, visit www.christiecannon.com.

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

Tuesday, February 27, 2018
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

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How to Position your North Dallas Home for the Best Price

Sunday, February 25, 2018
by Christie Cannon

One of the most common questions every homeowner wants to know is how to make sure they maximize their financial reward when selling their home. But how do you set yourself up to ensure that you receive the maximum value for your house?

Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOWER 

This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

2 Ways to Get the Most Money from The Sale of Your Home | Simplifying The Market

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

A study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.  To see what your home might be able to sell for, please click the link below! 

Free Home Price Estimation

 

Christie Cannon | The Christie Cannon Team | Keller Williams Frisco

469-951-9588 | www.ChristieCannon.com | 4783 Preston Rd # 300 Frisco TX

 
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DFW 4th Quarter Housing Market

Friday, February 16, 2018
by Christie Cannon

In a recent survey conducted by Metrostudy, the 4Q17 DFW housing market is pushing into a “New Affordable” Market.  As production in the $200-300k range is ramping up. Based on the survey, Metrostudy concluded the following:

  •         Dallas-Fort Worth remains the top new home market in the country, with quarterly starts up 16.9% YoY.Builders started 33,243 homes in 2017.
  •         We are seeing a jolt of starts between $200,000 and $300,000; an exciting development in DFW’s new home market which has suffered an extreme shortage of affordable, new homes since 2013.
  •         The median new home price rose slightly to $328,400, an annual increase of only 1.9%. The median resale price climbed 8.4%, further narrowing the difference between new and resales prices. Currently, the delta between the median resale and new home price is 32.3%.
  •         If developers deliver the large number of lots under construction and builders supply homes below $300,000, 2018 could be a banner year for DFW’s new home market

Metrostudy concludes, if developers deliver the large number of lots under construction and builders supply homes below $300,000, 2018 could be a banner year for DFW’s new home market.  Read the full article here.

 

Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.christiecannon.com

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Why You Need a Professional on Your Team When Buying a Home

Monday, January 29, 2018
by Christie Cannon

Why You Need a Professional on Your Team When Buying a Home

Why You Need a Professional on Your Team When Buying a Home | Simplifying The Market

Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional!

You Need an Expert Guide If You Are Traveling a Dangerous Path

The field of real estate is loaded with landmines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your “dream home.”

A great agent will also have relationships with mortgage professionals and other experts that you will need in order to secure your dream home. 

You Need a Skilled Negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands, of dollars. Each step of the way – from the original offer to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

Realize that when an agent is negotiating his or her commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family?

If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal. 

Bottom Line

Famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

 

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
5933 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 972-215-7748
Send an Email
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com

 

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