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2018 Was a Great Year for Home Equity for Most Homeowners!

by Christie Cannon

 2018 Was a Great Year for Home Equity for Most Homeowners!

Understanding your home's value is critical to knowing your net worth, your ability to refinance to a lower rate, removing mortgage insurance, & ensuring that you are not under-insured in case of casualty-loss! To find out a better idea of your home's value click here.

Contact us today for an easy, no cost, consultation & home valuation!

 

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

 

Keller Williams is #1 in Customer Service!

by Christie Cannon

Keller Williams Ranks #1 in Customer Service!

 

Keller Williams was recently awarded the #1 spot for customer service across Real Estate Agencies based on a recent survey by Newsweek. The study, powered by Statista, a respected global research firm, compiled rankings to reveal the best customer-service companies across 141 categories. Keller Williams continues to rank at the top as the #1 Real Estate Company & now #1 in Customer Service!

 

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

 

Here’s to a Wonderful 2019!

by Christie Cannon

Here’s to a Wonderful 2019!

Here’s to a Wonderful 2019! | MyKCM
 
Christie Cannon | REALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
972-215-7747
www.ChristieCannon.com
​www.CannonTeamHomes.com

How to Save Thousands of Dollars in Interest on Your Mortgage

by Christie Cannon

How to Save Thousands of Dollars in Interest on Your Mortgage

How to Save Thousands of Dollars in Interest on Your Mortgage | MyKCM

One of the most common loans you can get to buy a home is a 30-year fixed rate mortgage. If the thought of paying for your home over the course of 30-years seems daunting, here are some easy ways to shorten that term which will actually end up saving you money over the life of your loan.

Any additional payments to the principal amount (the original sum of money borrowed in a loan), helps to cut down the amount of interest that you will pay over the life of your loan and can also help to shave years off the loan as well.

When you make ‘extra’ payments toward your loan, the key is to let your lender/bank know that you want the extra funds to go toward your principal balance as they will not automatically do this for you.

You don’t have to double your mortgage payment to make a big difference either!

If you have a 30-year mortgage on a median-priced home ($250,000) with a 5% interest rate, you’ll be responsible for a $1,342.05 monthly principal and interest payment. Over the course of the loan, if you pay your exact monthly payment, you will have paid $233,133.89 in interest alone!

Paying a Little Extra Can Pay Off Big

1. Pay an additional 1/12th of your mortgage payment every month

Benefit: In the example above, adding $111.84 to your monthly mortgage payment might not seem like a lot, but each year you will have paid one extra month’s worth of payments which will shorten the term of your loan by 4 years and 8 months, all while saving you $42,000 in interest!

2. Pay an additional $50 per month towards your mortgage

Benefit: Fifty dollars might not seem like enough to make a difference on the term of your loan, but that small amount will save you over $21,000 in interest and will take over 2 years off the end of your loan. Twenty-eight years from now, you’ll be happy to pay off your loan that much sooner!

3. Make one-time lump sum payments when you can

Benefit: If you find yourself with a little extra money after a yearly bonus, a tax return, or from investment dividends, paying that money towards the principal can cut your costs. This option, however, is less predictable than the extra monthly payments.

If you have higher interest debts, like credit cards, consider using any extra funds you have to pay those debts down before applying that money towards your mortgage. Also, if you do not plan on staying in your home for more than 10 years, paying extra toward your mortgage might not make sense.

Bottom Line

If you’re wondering what strategies would work best for you to shorten the term of your loan, let’s get together to answer your questions.

 

 

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

Homeownership Remains a Huge Part of the American Dream

by Christie Cannon

Homeownership Remains a Huge Part of the American Dream

Homeownership Remains a Huge Part of the American Dream | MyKCM

As we head into 2019, many news outlets and housing experts warn that the housing market may slow down. Over the last six years, the inventory of homes for sale has been near historic lows, which has been the force behind increasing home prices.

This has been great news for sellers as many of them have been able to capitalize on the demand in the market and sell their homes quickly and at a great profit.

One of the big reasons why inventory has remained so low for so long is that an entire generation of home buyers is finally buying! The millennial generation (ages 19-35) has been the driving force behind bidding wars in many areas of the country as they ditch their renter lifestyles and put down roots in new communities.

First American recently released a study entitled “How ‘Renter’ Millennials Will Transform the Housing Market.” In their study, they explained that:

“…As more millennials age into their early-to-mid thirties, and begin to get married, have children and form households, they will continue to be the primary drivers of homeownership demand.”

Because of this, it is safe to say that one aspect of 2019’s housing market that WILL NOT slow down is the demand for housing from young renters who are no longer satisfied living in someone else’s homes.

According to the latest Housing Vacancies and Homeownership Report from the Census Bureau, home buyers under 35 are already out-buying older Americans. The chart below shows the year-over-year change in homeownership rate by those under and over the age of 35.

Homeownership Remains a Huge Part of the American Dream | MyKCM

The national homeownership rate spiked to its highest level in 2004 and then steadily declined until the second quarter of 2016 when it reversed course. Homebuyers under the age of 35 are the reason for that shift.

More than half of the purchase mortgages originated by Fannie Mae and Freddie Mac in 2018 were to first-time homebuyers. In fact,

“according to Census Bureau and First American calculations, over the next 10 years, aging millennials are expected to purchase at least 10 million new homes. By 2060, it is estimated millennials will have produced more than 20 million first-time home buyers.”

Bottom Line

If you are a homeowner who is nervous that the demand for your home will slow, don’t worry! If your home is priced competitively, there will be demand for years to come as this generation of renters is finally able to buy!

 

 

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

www.ChristieCannon.com
www.CannonTeamHomes.com

Where are Buyers Moving? New Migration Patterns are Emerging

by Christie Cannon

Where are Buyers Moving? New Migration Patterns are Emerging

Many people are moving across state boundaries and migration patterns are growing fairly common in some areas. For example, those who leave California are most likely to come right here to Texas. In the past five years, an average of more than 25,000 people left California for Texas, likely drawn to the booming tech industries and lower housing costs, according to a new analysis of census data from Porch, a home improvement resource.


 

Relocating most often appeals to young employees, as the study found millennials were the highest percentage of people crossing state borders.

Want to see the other migration patterns? View the report here.

 

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

 

The Hottest Housing Market in the Country is Not Where You Think!

by Christie Cannon

The Hottest Housing Market in the Country is Not Where You Think!

The month's hottest housing market is in an unlikely place - Midland, Texas. In November, the industrial West Texas city had some of the fastest-selling and most in-demand homes in the country, according to Realtor.com’s latest market index report.  On average, homes sold within a median 44-days while properties in the area received 2.1 more views than the national average.

 

The report looks at parts of the country in which demand has been growing faster than the number of homes available for sale.  Texas’ Midland and Odessa, another Western industrial town, have been experiencing an explosion in the number of people looking to buy homes, though the report does not state the reasons for the rapid growth. Read the full story and who the runners up were here.

 

The Christie Cannon Team is ready to serve you in Midland, TX with our new expansion team! Check us out at www.cctmidland.com.

 

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

 

Further Proof It’s NOT 2008 All Over Again

by Christie Cannon

Further Proof It’s NOT 2008 All Over Again

Further Proof It’s NOT 2008 All Over Again | MyKCM

Home sales numbers are leveling off, the rate of price appreciation has slowed to more historically normal averages, and inventory is finally increasing. We are headed into a more normal housing market.

However, some are seeing these adjustments as red flags and are suggesting that we are headed back to the same challenges we experienced in 2008. Today, let’s look at one set of statistics that prove the current market is nothing like the one that preceded the housing crash last decade.

The previous bubble was partially caused by unhealthy levels of mortgage debt. New purchasers were putting down the minimum down payment, resulting in them having little if any equity in their homes.

Existing homeowners were using their homes as ATMs by refinancing and swapping their equity for cash. When prices started to fall, many homeowners found themselves in a negative equity situation (where their mortgage was higher than the value of their home) so they walked away which caused prices to fall even further. When this happened, even more homeowners found themselves in negative equity situations which caused them to walk away as well, and so a vicious cycle formed.

Today, the equity situation is totally different. According to a new report from ATTOM Data Solutions more than 1-in-4 homes with a mortgage have at least 50% equity. The report explains:

“…nearly 14.5 million U.S. properties were equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value…The 14.5 million equity rich properties in Q3 2018 represented 25.7 percent of all properties with a mortgage.”

In addition, according to the U.S. Census Bureau, 30.3% of homes in the country have no mortgage on them.

Further Proof It’s NOT 2008 All Over Again | MyKCM

Almost 50% of all homes have at least 50% equity.

If we take both numbers, the 30.3% of all homes without a mortgage and the 17.9% with at least 50% equity (25.7% of the 69.3% of homes with a mortgage), we realize that 48.2% of all homes in the country have at least 50% equity.

Bottom Line

Unlike 2008, almost half of the homeowners in the country are sitting on massive amounts of home equity. They will not be walking away from their homes if the housing market begins to soften.

 

 

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

Pumpkin Patches, Festivals, Hay Rides and More!

by Christie Cannon

Pumpkin patches, festivals, hay rides and more! We rounded up some of the best Halloween events in the area just for you! 

ALLEN
BACH & BROOMSTICKS
Sat, October 20 12-4pm
Watters Creek
Crafts, balloon art, face painting, pumpkin decorating, hayrides

FAMILY FALL FESTIVAL
Sat, October 27 4:30-7:30pm
Christ the Servant Lutheran Church
Pumpkin painting, face painting, crafts, games

HOWL-O-WEEN BARKIN' BASH

Sun, October 28 1:30-3:30pm
Bethany Lakes Park
Contests, games, raffles & more!
 

ANNA
ANNA HARVEST FEST

Sat, October 27 12-6pm
Slayter Creek Park
Costume contest, pumpkin decorating contest, live music
 

CELINA
TRICK OR TREAT THE SQUARE
Wed, October 31 4-6pm
Main Street

 

FRISCO
FRISCOVANIA
Sat., October 27 3-8pm
Toyota Stadium
Carnival, fortune teller, games, food trucks, live music, runway show, special performances

FALL FESTIVAL
Sat, October 27 11am-1pm
Dr Pepper Ballpark
Costume Contest, petting zoo, pumpkin painting, face painting

FAMILY FUN FEST
Sun, October 28 4-8pm
Elevate Life Church
Carnival games, petting zoo, cakewalk, hay ride

 

LEWISVILLE
ROCKTOBER HALLOWEEN BASH!
Tue, October 30 5-9pm
Wayne Ferguson Plaza
Trick or treating, kids activities, La Freak performance

 

LITTLE ELM
PUMPKIN HOLLOW - *Cancelled due to weather
October 18-20
Little Elm Park
Haunted trail & hayride, pumpkin trail, games

 

MCKINNEY
GHOSTWALK
Chestnut Street
Check website for times
Walk through downtown, hauntings tours, paranormal experience 

HALLOWEEN AT THE HEARD
Sat, Oct 20 6-10pm
Heard Natural Science Museum
Movie, trick or treating along dinosaurs

SCARE ON THE SQUARE
Wed, October 31 4-7pm
Historic Downtown McKinney
Costume contest, pumpkin races, family friendly event

 

PLANO
PLANO FAMILY EXPO
Sun, October 21 10am-4pm
Plano Event Center
Trick or treat, live shows, haunted house
 
BOO BASH
Thur, October 25 5-8pm
Muehlenbeck Recreation Center
Carnival games & trick or treating
 
HAUNTED FAMILY CAMPOUT
Sat, October 27 3:30pm-10am Sun
Oak Point Park Nature & Retreat Center
Outdoor games, night hike, tent decorating
 
Crayola Experience
Activities, scavenger hunt, zombie crafts, live show
 

PROSPER
PROSPER PUMPKINFEST
Sat, October 20 4:00pm
Frontier Park
Costume contest, pumpkin patch, activities

 

THE COLONY
FAMILY FRIGHT NIGHT
Sat, October 20 4pm-9am
Stewart Creek Park
Campout, haunted trail, costume contest, scary movie, hayride

HAUNTED SHADOWS LAKE TRAIL
Near Blue Sky Sports Center
Check website for times
Walk the dark trail through the woods, self-guided journey along Lake Lewisville

 

WYLIE
BOO ON BALLARD
Thur, October 25 6-8pm
Historic Downtown Wylie
Costume contest, trick or treating, activities

 

PUMPKIN PATCHES
PUMPKIN PATCH & FALL FESTIVAL, Allen
PUMPKINS ON THE PRAIRIE, Frisco
PRESTON TRAIL FARMS, Gunter
STORYBOOK RANCH PUMPKIN PATCH, McKinney
FLOWER MOUND PUMPKIN PATCH, Flower Mound

 

It's a great time of year to live in North Texas. No matter where you live, there is sure to be a fun-filled family-friendly Halloween event nearby!  

 

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

Friday & Saturday - The District Concert Series

by Christie Cannon

Friday & Saturday - The District Concert Series 

Come on out tonight & tomorrow and take in the sights & sounds at the all new District at The Shops at Willow Bend!  The fun-filled FREE concert series will take place from 7:00-9:00pm on the main stage at the all new restaurant District, a destination dining area at the The Shops at Willow Bend with up to seven chef driven restaurants. This weekend you can rock out to to the tunes of Led Zeppelin & P!NK!

 

Friday, October 12: Swan Song, the Premier Led Zeppelin Tribute band of Texas. Swan Song is the longest-running Led Zeppelin tribute band in the southern United States. Established in 1999, the Dallas-Fort Worth based project brings back all of Led Zeppelin's majesty and magic with amazing accuracy.

 

Saturday, October 13: Just Like P!NK: The Ultimate P!NK Experience, will put on an amazing show. Their motivation stems from an honest admiration, dedication and emotional attachment to P!NK and her music. They strive to exquisitely capture and embody the true essence of P!NK's spirit through live performance, as only true fans could.

 

Pick up delicious takeout and picnic on the patio or take in the festivities from the new restaurants' outdoor dining tables.  Get a roll-up picnic blanket with takeout from one of the new restaurants in The District - KnifeMexican Bar CompanyTerra MediterraneanWhistle Britches or Ascension, while supplies last!

 

Come pop by our tent, say hello & grab some free giveaways. We are also available to answer any questions you may have! We can't wait to see you there!

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

 

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Photo of Christie Cannon Real Estate
Christie Cannon
Keller Williams Realty
4783 Preston Road #300
Frisco TX 75034
972-215-7747
Fax: 214-853-4774
Keller Williams Frisco - The Christie Cannon Team - http://www.christiecannon.com

 

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