Displaying blog entries 341-350 of 385
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Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com
![Where Did Americans Move in 2017? [INFOGRAPHIC] | Simplifying The Market](http://files.simplifyingthemarket.com/wp-content/uploads/2018/01/09171241/MovingAcrossAmerica2018-STM.jpg?a=188345-dbf8fdfd575860bfd3f4e0f9d5e1fe86)
Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com
Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months.
Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report.
As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%.
How might the new tax code impact these numbers?
Recently, the National Association of Realtors (NAR) conducted their own analysis to determine the impact the new tax code may have on home values. NAR’s analysis:
“…estimated how home prices will change in the upcoming year for each state, considering the impact of the new tax law and the momentum of jobs and housing inventory.”
Here is a map based on NAR’s analysis:
According to NAR, the new tax code will have an impact on home values across the country. However, the effect will be much less significant than what some originally thought.
Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
Housingwire.com's 2018 forecast of the best Real Estate Markets in the US includes only 1 California city! Viva Las Vegas for the number 1 spot!
To prepare the list, REALTOR.com analyzed the economics, home sale data, new home & builder activity, & population trends to predict the top 10 markets in 2018 in the United States.
Our very own Dallas TX real estate market is predicted to take the number 2 spot! REALTOR.com believes that Dallas, with a median home price of $339,300, will enjoy a 6% increase in sales & 5.6% increase in price.
For more information on our local real estate market, please contact us!
Christie Cannon | REALTOR
The Christie Cannon Team | Kw Realty
Keller Williams Frisco TX
469-951-9588
www.ChristieCannon.com
Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com
2018 Housing Market Predictions
There’s no doubt about it, we’ve been in a hot housing market and 2017 ended just as hot. According to some experts, now as we head into 2018 the market is expected to start to cool down, especially in the higher price ranges, due to tax reform. Standard & Poor’s said that its S&P CoreLogic Case-Shiller national home price index climbed 6.2% in October — 6% above its 2006 peak. Meanwhile, in November pending home sales were up annually for the first time since June and sales of existing homes reached its strongest pace since December 2006, according to the National Association of Realtors. Check out the article for what we can possibly expect to see in the 2018 housing market.
What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened.
“A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real key for detecting a bubble is speculation…Speculation tends to chase appreciating assets, and then speculation begets more speculation, until finally, for some reason that will become obvious to all in hindsight, the ‘bubble’ bursts.
I have taken to calling the housing market a ‘bubble’.”
– Bill McBride of Calculated Risk calling the bubble back in April 2005
There are two measurements that are used to determine the speculation in a housing market:
1. The number of homes purchased by an investor and
2. The number of homes being flipped (resold within a twelve-month period)
As compared to 2005, investor purchases are down dramatically (from 23% to 13%) and so is flipping (from 8.2% to 5.7%). McBride explains:
“There is currently some flipping activity, but this is more the normal type of flipping (buy, improve and then sell). Back in 2005, people were just buying homes and letting them sit vacant – and then selling without significant improvements. Classic speculation.”
DSNews recently ran an article which asked two economists to compare the speculation in today’s market to that in 2005-2007. Here is what they said:
“The speculative ‘flipping mania’ of 2006 is absent from most metro areas.”
“The nature of housing demand is different as well, with more potential homeowners and far fewer speculators in the housing market compared to the 2005-2007 period.”
Sixty days ago, he explained:
“In 2005, people were just buying homes and letting them sit vacant – and then selling without significant improvements. Classic speculation. And even more dangerous during the bubble was the excessive use of leverage (all those poor-quality loans). Currently lending standards are decent, and loan quality is excellent…
I wouldn’t call house prices a bubble – and I don’t expect house prices to decline nationally like during the bust.”
Speculation is a major element of the housing bubble formula. Right now, there are not elevated percentages of investors and house flippers. Therefore, there is not an elevated rate of speculation.
Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com
Keller Williams Continues to Lead the Pack
2017 has been a great year and Keller Williams has been honored to receive a number of prestigious awards. We are excited to continue excelling in our field!
Just one more reason Keller Williams is ranked #1 happiest place to work in 2018!!
Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com
500 High-Skill Jobs Coming to Sherman
More companies are deciding that North Texas is the place to be! Apple recently announced that it has awarded Finisar, an optical communication components manufacturer, $390 million from its Advanced Manufacturing Fund. Finisar is expected to create 500 high-skill jobs, including engineers, technicians and maintenance teams right here in North Texas.
Finisar will transform a shuttered, 700,000-square-foot manufacturing plant in Sherman, Texas, into a high-tech facility developing VCSEL (vertical-cavity surface-emitting laser) chips. VCSEL technology is used to power Apple product features such as Face ID, Animoji, portrait mode selfies and proximity-sensing capabilities. One hundred percent of the VCSELs Apple buys from Finisar will be made in Texas. The hiring process has already begun and the Sherman plant is scheduled to start shipping out products by late 2018.
The City of Sherman has been investing significantly in improved infrastructure and amenities, creating an unparalleled quality of life for its citizens. One more reason DFW is one of the fastest growing areas in the US!
Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com
The proposed Texas bullet train would connect Dallas and Houston. (Photo courtesy of Texas Central Partners)
It may soon be a whole lot faster to get from Dallas to Houston! The Federal Railroad Administration approved a route for the high-speed Texas Bullet Train that would connect Dallas to Houston, the state’s two largest urban areas. According to the Texas Tribune, there aren’t many surprises in the announced route, as it had already been largely solidified. Now that the route has been finalized, there will be a public process in the early part of the year to gather feedback about the route. The release of the draft Friday marked a major step toward getting federal clearance for the project. The high-speed rail project will require the developer to buy up thousands of rural properties across the state.
Central Texas Partners released this map showing the likely route of a high-speed rail line between Dallas and Houston. Graphic by Emily Albracht for The Texas Tribune
Texas Central promises to run high-speed trains that would travel up to 205 mph as they carry people between the state's two biggest urban areas in only 90 minutes. The $12 billion project will have stations in Dallas, Grimes County & Houston. The Dallas Station will be located just south of Downtown, while there are three potential Houston station locations. They are planning on breaking ground in late 2018 or early 2019 with expected operations to begin in 2023. A high-speed rail line between two of the country’s biggest, fastest-growing metros could have a major impact on transportation, jobs and economic development!
Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.ChristieCannon.com
Displaying blog entries 341-350 of 385
