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Habitat for Humanity to Build Homes from Shipping Containers in McKinney

by Christie Cannon

Habitat for Humanity to Build Homes from Shipping Containers in McKinney

A new development in McKinney is coming and it has a whole new look! North Collin County Habitat for Humanity is building a new community, called Cotton Groves, offering affordable housing in the northern suburb of Dallas. 

The steel shipping containers have quickly become a trendy design, offering sleek & simple lines. Habitat will bolt several boxes together & on top of each other to create the three-, four- & five-bedroom homes. The homes will be finished out like standard Habitat homes and will feature solar panels, carports & balconies. 

Demand has been high for the new neighborhood with lots of people watching to see how it turns out. Read the full article about the new community!

 

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

 

What’s Going On With Home Prices?

by Christie Cannon

What’s Going On With Home Prices?

What’s Going On With Home Prices? | MyKCM

According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year.

CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change,

“The rise in mortgage rates this summer to their highest level in seven years has made it more difficult for potential buyers to afford a home. The slackening in demand is reflected in the slowing of national appreciation, as illustrated in the CoreLogic Home Price Index.  

National appreciation in August was the slowest in nearly two years, and we expect appreciation to slow further in the coming year.”

One of the major factors that has driven prices to accelerate at a pace of between 6-7% over the past two years was the lack of inventory available for sale in many areas of the country. This made houses a prized commodity which forced many buyers into bidding wars and drove prices even higher.

According to the National Association of Realtors’ (NAR) latest Existing Home Sales Report, we are starting to see more inventory come to market over the last few months. This, paired with patient buyers who are willing to wait to find the right homes, is creating a natural environment for price growth to slow.

Historically, prices appreciated at a rate of 3.7% (from 1987-1999). CoreLogic predicts that prices will continue to rise over the next year at a rate of 4.7%.

Bottom Line

As the housing market moves closer to a ‘normal market’ with more inventory for buyers to choose from, home prices will start to appreciate at a more ‘normal’ level, and that’s ok! If you are curious about home prices in your area, let’s get together to chat about what’s going on!

 

 

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

Don't Miss It - The District Concert Series Tonight & Tomorrow!

by Christie Cannon

Don't Miss It - The District Concert Series Tonight & Tomorrow!

 

Come on out to the brand new District at The Shops at Willow Bend tonight & tomorrow from 7:00-9:00pm to enjoy the fun-filled free concert series. The District is destination dining area at the The Shops at Willow Bend with up to seven chef driven restaurants. Pick up delicious takeout, picnic on the patio or take in all the festivities from one of the new restaurants' outdoor dining tables. 

 

Tonight, October 5th, the sounds of Big Little Town will be rockin' the stage & covering all the hits of the top country band, Little Big Town. Come on out Saturday, October 6th as well and take in the sights & sounds with Beatlemania64 as they put on a multimedia musical journey through the life & times of The Beatles.

 

Come pop by our tent and say hello! We will have fun giveaways & are available to answer any questions you may have! See you tonight!

 

 

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

Introducing The Corridor DFW Magazine!

by Christie Cannon

Introducing The Corridor DFW Magazine!

 

This month, The Christie Cannon Team is proud to announce the launch of our new magazine The Corridor DFW! This publication designed for the North Texas community features a wide range of lifestyle and real estate stories to inspire, inform & connect with you like never before. The world of home design, a featured local artist, tips on how to stage a home and featured local listings that are too great to miss can all be found in this debut issue. We also take a peek into some of the highly anticipated master planned communities and everything that they offer. 

With the market seeing a shift, expertise comes into play more than ever. Whether you are planning on buying or selling, The Corridor DFW is now here to entertain, inform and present ideas for you and your next real estate endeavor. 

 

Oldest Home in Plano TX Moves Locations!

by Christie Cannon

Love your home, but not your location?  Check out what happened when Plano's oldest home was facing destruction.  

Built in 1861, the Collinwood House, was moved to Haggard Farm last week to protect the home's future.  The City of Plano purchased the home's previous location with the intent of turning the Collinwood Farm into a city park.  After a city bond intended to restore the property was declined by voters last year, the property was facing likely destruction.  The home was purchased by one of Plano's founding families, the Haggards, whose plan is to restore the property the frontier property 

Construction on the Windhaven Meadows park has already begun. 

The Cost of NOT Paying PMI

by Christie Cannon

The Cost of NOT Paying PMI

The Cost of NOT Paying PMI | MyKCM

Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live.

There is a common misconception among homebuyers that a 20% down payment is required, and it is this limiting belief that often adds months, and sometimes even years, to the home-buying process.

So, if you can purchase a home with less than a 20% down payment… why aren’t more people doing just that?

One Possible Answer: Private Mortgage Insurance (PMI)

Freddie Mac defines PMI as:

“An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.

Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”

As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. The monthly cost of your PMI depends on the home’s value, the amount of your down payment, and your credit score.

Below is a table showing the difference in monthly mortgage payment for a $250,000 home with a 3% down payment and PMI vs. a 20% down payment without PMI:

The Cost of NOT Paying PMI | MyKCM

The first thing you see when looking at the table above is no doubt the added $320 a month that you would be spending on your monthly mortgage cost. The second thing that should stand out is that a 20% down payment is $50,000!

If you are buying your first home, $50,000 is a large sum of money that takes discipline and sacrifice to save. Many first-time buyers save for 5-10 years before buying their homes.

To save $50,000 in 10 years, you would need to save about $420 a month. On the other hand, if you save that same $420 a month, you could afford a 3% down payment in less than a year and a half.

In a recent article by My Mortgage Insider, they explain what could happen in the market while you are waiting to save for a higher down payment:

“The time it takes to save a (larger) down payment could mean higher home prices and tougher qualifying down the road. For many buyers, it could prove much cheaper and quicker to opt for the 3% down mortgage immediately.”

The article went on to say,

“Since renters typically devote a higher percentage of their income to housing than homeowners, providing flexible down payment options can help renters with solid earnings purchase a home – and gain a fixed-rate mortgage with principal and interest payments that will not increase over the life of the loan.”

If the prospect of having to pay PMI is holding you back from buying a home today, Freddie Mac has this advice,

“It’s no doubt an added cost, but it’s enabling you to buy now and begin building equity versus waiting 5 to 10 years to build enough savings for a 20% down payment.”

Based on results of the most recent Home Price Expectation Survey, a homeowner who purchased a $250,000 home in January would gain $50,000 in equity over the next five years based on home price appreciation alone (shown below).

The Cost of NOT Paying PMI | MyKCM

Bottom Line

If you have questions about whether you should buy now or wait until you’ve saved a larger down payment, let’s get together to discuss our market’s conditions and help you make 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
www.CannonTeamHomes.com

 

OutRun Homelessness 5K & Fun Run

by Christie Cannon

OutRun Homelessness 5K & Fun Run will be Saturday, October 27, 2018.

 

 

It is that time of year again!

Collin County Cares' 5K & Fun Run

Saturday | 27 October | Costumes Encouraged

 

Great fun for a great cause....

The Collin County Cares' Fun Run & 5K race in Plano TX is a race with over 1,000 runners whose primary goal is to help the homeless of Collin County secure a place to live, interview for a job, and stand on their own two feet.  Last year the race proceeds totaled $68,087, which was distributed in entirety to 7 partner organizations who serve the homeless.

 

5K REGISTRATION

  • $25 Early Bird (through July 31)

  • $30 Pre-Race (August 1 - 31)

  • $35 Race (September 1 – October 27)

FUN RUN REGISTRATION

  • $20 Pre-Race (July 1 - August 30)
  • $25 Race (September 1 - October 27)

SLEEP-IN OPTION

Support the cause without sweating and get a Race Day T-Shirt!

  • $20 (July 1 - August 30)
  • $25 (September 1 - October 27)

Register or find out more at the link below!

http://www.collincountycares.org/

4 Reasons to Sell This Fall

by Christie Cannon

4 Reasons to Sell This Fall 

4 Reasons to Sell This Fall [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Housing inventory is still under the 6-month supply that is needed for a normal housing market.
  • Buyers are often competing with one another for the listings that are available.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.

 

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

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

Market Update - Now is the Time to Buy!

by Christie Cannon

Market Update - Now is the Time to Buy!

Christie discusses the latest market trends including the increase in home prices, rising interest rates, down payment myths & what to expect as a buyer in the recent episode of The American Dream TV. Watch her full segment below!

 

 

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

 

 

 

Displaying blog entries 331-340 of 385

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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