First-Time Home Buyers Continue to Put Down Less Than 6%!

Friday, July 20, 2018

by Christie Cannon

First-Time Home Buyers Continue to Put Down Less Than 6%!

According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017.

Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers and 54% of all buyers put less than 20% down.

Ralph McLaughlin, Chief Economist and Founder of Veritas Urbis Economics, recently shed light on why buyer demand has remained strong,

“The fact that we now have four consecutive quarters where owner households increased while renters households fell is a strong sign households are making the switch from renting to buying.

Households under 35 – which represent the largest potential pool of new homeowners in the U.S. – have shown some of the largest gains. While they only make up a third of all homebuyers, the steady uptick in their homeownership rate over the past year suggests their enormous purchasing power may be finally coming to [the] housing market.”

It’s no surprise that with rents rising, more and more first-time buyers are taking advantage of low-down-payment mortgage options to secure their monthly housing costs and finally attain their dream homes.

Bottom Line

If you are one of the many first-time buyers unsure of whether or not they would qualify for a low-down payment mortgage, let’s get together and set you on your path to homeownership!

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

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The Christie Cannon Team was Named to the 2018 REAL Trends America’s Best Real Estate Professionals

Tuesday, July 17, 2018

by Christie Cannon

The Christie Cannon Team was named one of America’s most productive sales teams as a part of REAL Trends America's Best Real Estate Professionals, the newly issued ranking report produced by REAL Trends and sponsored by Adwerx.

REAL Trends America’s Best Real Estate Professionals ranks over 13,800 residential real estate professionals solely based on their excellence in real estate sales during calendar year 2017. 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," says Steve Murray, president of REAL Trends America’s Best Real Estate Professionals and president of REAL Trends.

To qualify for inclusion, an individual agent must have closed at least 50 transaction sides or $20 million in sales volume in 2017. For real estate agent teams, the minimum is 75 transaction sides or $30 million in closed sales volume. The individuals ranked in America’s Best Real Estate Agents had an average of 73.88 transaction sides and an average sales volume of almost $38 million. Teams ranked in America’s Best Real Estate Professionals had an average of 147.4 sides and an average sales volume of almost $62 million. This ensures that only the best of the best are included on the prestigious list.

"The average residential real estate agent in the United States closed 8.0 transactions in 2017 and had less than $1.3 million in sales," said Murray. "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 one of the nation’s most prominent digital advertising companies, Adwerx, has partnered with REAL Trends as a sponsor of the 2018 America's Best Real Estate Professionals," Murray added. "Becoming one of America's Best Real Estate Professionals is a tremendous accomplishment," said Jed Carlson, CEO at Adwerx. "We are excited to partner with REAL Trends in sharing this news and to work with the country's top real estate professionals in sharing their achievement."

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

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

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The #1 Reason to List Your House for Sale NOW!

Monday, July 9, 2018

by Christie Cannon

The #1 Reason to List Your House for Sale NOW!

If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale

The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory:

“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand.

That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”

The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

Anything less than a six-month supply is considered a “seller’s market.”

Bottom Line

Let’s get together to discuss the supply conditions in our neighborhood so that I can assist you in gaining access to the buyers who are ready, willing, and able to buy right now!

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

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D Magazine Best Real Estate Agents & Top Producers

Friday, July 6, 2018

by Christie Cannon

Christie Cannon & The Christie Cannon Team of KW Frisco named by

D Magazine for the Best Real Estate Agent & Top Producers in 2018

Thank you to our amazing clients, colleagues, & outstanding staff!

A special Congratulations to our buyers agents Sandy Stewart, Kristie Crotty, Jennifer Redman, Tiffany George & Leslie Terrell - who were also chosen for this prestigious award!

We owe a special "thank you" to the Real Estate Community for their recognition, our dedicated staff and agents, & most importantly, to our clients for their confidence & support.

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

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Happy Fourth of July! Events & Family Fun Guide

Wednesday, July 4, 2018

by Christie Cannon

Happy Fourth of July! Events & Family Fun Guide

Happy Fourth of July! We've compiled a list of great Fireworks, Parades & Family Fun for you celebrate today!

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Ready to Buy Your First Home?

Thursday, June 28, 2018

by Christie Cannon

Are You Wondering If You Can Buy Your First Home?

There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they get married or start a family, some might think they are too young, and still, some others might think their current incomes would never enable them to qualify for a mortgage.

We want to share what the typical first-time homebuyer actually looks like based on the National Association of Realtors’ most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first-time buyer:

Bottom Line

You may not be much different than many people who have already purchased their first homes. Let’s meet to determine if your dream home is within your grasp today!

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

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Tips to Build a Great Vegetable Garden

Monday, June 25, 2018

by Christie Cannon

How to Plan Your Vegetable Garden Step by Step

This can be a great time to start planning your new vegetable garden. Even if you do not have a large area, you can still grow a substantial number of vegetables. Gardening isn’t difficult with a little helpful advice.

Gardening for beginners can appear daunting, but use these following bits of advice, and you will be well on your way.

Lay Out Your Garden Beds

First steps include deciding what space you have available. This will help determine the variety of vegetables can grow as well as the quantity. If you don’t have a large garden area, this doesn’t matter as there are many other ways you can grow plenty of vegetables to make an effort worthwhile.

Growing bed sizes are around 16ft x 10ft in an ideal situation. If you have this space in your garden all is well and good.

Building Raised Beds

These need straightforward construction to start with and are cheap to make. Raised beds can be beneficial for smaller homes, and with the right veggies, you can grow substantially more than in a flat growing bed.

Raised beds are comprised of retaining walls. Many are constructed by two lengths of wood which are 8ft long and two shorter 4 ft. long pieces.

The height in total should be 12 inches to allow the plant roots to grow quickly. This wood is then fastened together in a rectangle shape. Supports can be used in the center of the wood lengths for when you add the soil.

A raised bed has the advantage of being able to grow earlier in the season as the soil warms quicker. They are also ideal for kids or the older generation as they can reach without bending.

Best Soil Preparation

In regular vegetable gardens, you till your soil and then cover it with a good inch or two of compost and mix these two together. This will allow nutrients and oxygen to seep into the earth as a preparation for planting your vegetables.

Raised beds are a larger version of container gardening, and it is much easier to get a better soil condition. Purchasing good quality topsoil, which will already be pH neutral, gives the best condition from the very beginning.

Planning then Planting

Vegetable rows should run east to west, so they gain the most amount of sun. Vegetables require 6 to 8 hours of sun per day for them to grow their best.

If you have any climbing plants, these should be on the north side of your beds so they won’t cast shadows on other vegetables. Tomatoes are a typical climbing plant. However you can buy a bush type and plant these in hanging baskets. This not only makes them easier to grow, but it also clears space you could use for something else.

When you are looking at what veggies to plant, there are 3 options. You can use old sprouting veggies, transplant seedlings which you have grown or bought, or sow and grow directly from seeds.

Caring for Your Vegetables

It doesn't matter which method you use to plant vegetables. They still have the need to be tended to.

Watering will be weather and location dependent, but, as a rule, if you find the top inch or two of soil is dry, then your plants require watering.

Early evening or early morning is the best time for watering because water in hot sunlight can scorch your plants and it will evaporate before nourishing the roots.

Insects are quickly attracted to your vegetables, and a straightforward method to control these is adding a birdbath. Once you get birds in the habit of visiting your garden, they’ll help control pests who love the taste of your fresh veggies.

Vegetable gardening gets you out in the clean fresh air and provides exercise.

Above all, you have something to show for all your hard work!

Happy Planting!

Christie Cannon | REALTOR

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

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3 Issues Facing Today's Real Estate Market

Wednesday, June 20, 2018

by Christie Cannon

3 Issues Facing Today’s Real Estate Market

Last week, the National Association of Real Estate Editors (NAREE) held their 52nd Annual Journalism Conference in Las Vegas, NV. Among the many highly anticipated sessions was one called “Top Ten Issues Affecting Real Estate™,” given by Joseph Nahas, Jr., Chair of the Counselors of Real Estate & Senior Vice President of Equus Capital Partners.

The Counselors of Real Estate (CRE) “is an international organization of high profile property professionals which include principals of prominent real estate, financial, legal, and accounting firms as well as recognized leaders of government and academia.”

Their annual “top 10” list spans any and all issues that could have an impact on the real estate market. This year, the list was broken up into “Current” and “Long-Term Issues.”

Today we’re going to focus on three of the five “Current” issues with a brief explanation of their impacts on the housing market today!

E-Commerce & Logistics

With promises of 2-day shipping no matter where you live, we are benefiting more now than ever before from the speed and ease-of-use of online retailers like Amazon. These e-retailers haven’t changed whether or not we buy certain items, but rather HOW we buy them!

Many traditional malls or big-box stores are being repurposed as warehouses or distribution centers for online retailers so that they can get their products out faster.

A Look to the Future: “Developers who are including experiences into their locations are the ones who will succeed. It’s about the experience and gaining something over just going to buy a product.”

Generational Change & Demographics

By now we’ve all heard that the millennial generation is the largest yet, just by sheer volume. The largest group of millennials turns 30 years-old in 2020. The average first-time homebuying age is between 30 and 32, depending on marital status. Real estate professionals will be inundated with more and more buyers as the years roll on. Nahas commented on this in his presentation, saying that,

“Too many developers have become dependent on making decisions based on baby boomer’s preferences.

The 75 million millennials are coming, and they will influence real estate and commerce even faster than the baby boomers in the 50s and 60s.”

Interest Rates & the Economy

The interest rate that you secure for your mortgage is a big factor in your monthly housing cost and in how much you ultimately pay for your home. According to Freddie Mac’s Primary Mortgage Market Survey, rates rose to 4.62% on a 30-year fixed rate loan last week.

The Federal Reserve also raised the federal funds rate for the second time this year. If unemployment continues to be at or near record lows, two more hikes are likely to come later this year.

Nahas added,

“Rising rates can be good and bad for the economy. Bad for borrowing money with additional costs, but good to control inflation and help grow the economy at a moderate pace.”

Bottom Line

If you are planning on buying and/or selling a home this year, let’s get together to help you navigate the conditions in your market and set you up for success.

Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747

www.ChristieCannon.com

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Thinking About Renovating? Top 4 Improvements for ROI

Monday, June 18, 2018

by Christie Cannon

Some Highlights:

Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).
Minor bathroom renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
Upgrading your landscaping or curb appeal helps get buyers in the door. These upgrades rank as the 2nd and 4threnovations for returns on investment

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

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Millennials Are Moving Into Their Dream Homes

Thursday, June 14, 2018

by Christie Cannon

Millennials Are Skipping Starter Homes for Their Dream Homes

A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.

What’s a Starter Home?

According to the National Association of Realtors (NAR), simply put, a starter home is a one or two-bedroom home (sometimes even a small, three bedroom). “Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and premium homes cost upwards of $300,000.”

Finding Their Forever Homes Now

A recent CNBC article revealed that there are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either remain living in their parent’s homes or to rent.

With the economy continuing to improve, many millennials have been able to break into better-paying jobs which has helped spur down payment savings. As the dream of homeownership comes closer to reality, many millennials are saving for their forever homes.

According to the latest statistics from NAR, 30% of millennials bought homes for $300,000 or more this year (up from 14% in 2013). Diane Swonk, Chief Economist at Grant Thornton weighed in saying, “They rented for longer. Now they’re going to where they want to stay.”

More and more millennials are settling down, getting married, and starting families, which is a huge factor driving them to look for larger homes.

Increased competition in the starter home market has also been a driving force in waiting to afford their dream homes. Inventory in the starter home market is down 14.2% from last year, according to research from Trulia. This has driven prices up and has led to bidding wars.

Many first-time buyers who were originally looking for starter homes are realizing that for just a little bit more of an investment, they could afford trade-up or premium homes instead.

Bottom Line

If you plan on purchasing your first home this year, let’s get together to determine how much house you can afford. You may be pleasantly surprised.

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

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