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The Cost Across Time

by Christie Cannon

The Cost Across Time 

The Cost Across Time [INFOGRAPHIC] | MyKCM

Some Highlights:

  • With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years.
  • Rates are projected to climb to 5.0% by this time next year according to Freddie Mac.
  • The impact your interest rate makes on your monthly mortgage cost is significant!
  • Lock in a low rate now while you can!

 

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

 

Buyers Are Looking for Your Home, Now!

by Christie Cannon

Buyers Are Looking for Your Home, Now! 

Buyers Are Looking for Your Home, Now [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Existing home sales are currently at an annual pace of 5.32 million and have increased on a monthly basis for the last two months.
  • The inventory of existing homes for sale remains below the 6-months needed for a normal market and is now at a 3.9-month supply.
  • Inventory remains low due to high demand from buyers who are still looking for houses 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

Home Sellers in Q3 Netted $61K at Resale

by Christie Cannon

Home Sellers in Q3 Netted $61K at Resale

Home Sellers in Q3 Netted $61K at Resale | MyKCM

According to a recent report by ATTOM Data Solutions, home sellers who sold their homes in the third quarter of 2018 benefited from rising home prices and netted an average of $61,232.

This is the highest average price gain since the second quarter of 2007 and represents a 32% return on the original purchase prices.

After the Great Recession, many homeowners were left in negative equity situations but home price appreciation in the recovery period since then has given homeowners something to smile about.

The results from ATTOM fall right in line with data from the latest edition of the National Association of Realtors’ (NAR) Profile of Home Buyers and Sellers. Below is a chart that was created using NAR’s data to show the percentage of equity that homeowners earned at the time of sale based on when they purchased their homes.

Home Sellers in Q3 Netted $61K at Resale | MyKCM

Even though those who purchased at the peak of the market netted less than those who bought before and after the peak, the good news is that there was a double-digit profit to be had! Many homeowners believe that they are still underwater which has led many of them to not even consider selling their houses.

Bottom Line

If you are curious about how much equity you’d earn if you sold your home, let’s get together to perform an equity review and determine the demand for your home in today’s market!

 

 

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

How to Honor a Veteran Today and Everyday

by Christie Cannon

How to Honor a Veteran Today and Everyday

How to Honor a Veteran Today and Everyday | MyKCM

One hundred years ago, on the eleventh hour of the eleventh day of the eleventh month, we marked the end of the “war to end all wars.” That day, which was to be observed annually on the eleventh day of the eleventh month, became known as Armistice Day and then, later on, became Veterans Day.

But Veterans Day is not for veterans. They don’t serve for thanks or recognition. Veterans Day sets aside a day for those of us who haven’t worn the uniform to acknowledge those who have.

So today, we honor and remember.

If you ask a military family, ANY military family, how you can help them, they will respond without hesitation, “Make sure my service member is taken care of.”

If you ask a service member, ANY service member, how you can best honor them, they will respond without hesitation, “Take care of my family.”

Don’t know anyone who has served or is serving? More than likely, there are veterans in your midst. Each year, 260,000 military personnel relocate to new communities, and another 230,000 transition out of the military. In total, there are 22 million veterans among us in the world.

For those who relocate through a Permanent Change of Station (or PCS), it can be a pretty stressful time. There isn’t a lot of time to find a new place to live and the timeline is more accelerated for finding a place to call home.

MILLIE is an online community and digital marketplace that connects members of the military and their families with specialized knowledge and trusted resource providers to alleviate the stress of PCSing.

According to MILLIE“70% of active duty families live off the installation and in the surrounding communities.” Wondering what you can do to help make a recently PCSed family feel welcome?

A recent survey of military families revealed that,

“When respondents described the support they most appreciate, family, friends, and faith-based communities rose to the top. When they described the support they needed, they called for more networking, communication, and support groups.

Families said that when leaving service, they feel as though they do not fit into the civilian world. Forging partnerships between military and civilian support systems will encourage pathways of understanding.”

If you find out that your new neighbor may have been PCSed, make an effort to share what you know about your community, from the best pizza place to where you can get your oil changed.

If you know that the service member of the family is actively deployed, helping out with tasks like mowing the lawn or bringing over a home-cooked meal are small gestures that will go a long way towards welcoming this family into their new home.

Bottom Line

Today, we honor and remember those who have served for our country. Everyone always asks what they can do to help, sometimes the simplest answer is the best one.

More about MILLIE:

MILLIE is an online community and digital marketplace that connects members of the military and their families with specialized knowledge and trusted resource providers to alleviate the stress of PCS’ing. Check out MILLIE’s Installation Guidestheir network of Veteran and military spouse real estate agents, and MILLIE Scoutstheir on-demand task service comprised of military spouses.

 

 

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

The Difference an Hour Will Make This Fall

by Christie Cannon

The Difference an Hour Will Make This Fall 

The Difference an Hour Will Make This Fall [INFOGRAPHIC] | MyKCM

Every Hour in the US Housing Market: 

  • 596 Homes Sell
  • 278 Homes Regain Positive Equity
  • Median Home Values Go Up $1.20

 

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

Is the Increase in Inventory a Bullish or Bearish Sign for Real Estate?

Is the Increase in Inventory a Bullish or Bearish Sign for Real Estate? | MyKCM

In a recent article, National Housing Inventory Crisis Reaches Inflection Pointrealtor.com reported that:

  1. New listings jumped 8% year-over-year nationally, the largest increase since 2013
  2. Total listings in the 45 largest markets are now up 6% on average over last year

This increase in housing inventory has sparked two different reactions. Some are saying this is the first sign of a potential collapse while others are saying it is a welcomed reprieve from the lack of inventory that has stalled the market recently. As Zelman & Associates reported in a recent ‘Z Report’:

“With the rate of home price appreciation starting to decelerate alongside the uptick in inventory, we expect significant debate whether this is a bullish or bearish sign.”

Is this a sign the market might crash?

There are those who look at the increase in inventory as a sign that we are returning to the market we saw last decade. However, a closer look shows that we are nowhere near the levels of inventory we reached before the crash in 2008.

A normal market would have about 6-months inventory, but the latest Existing Home Sales Report issued by the National Association of Realtors revealed that:

“Unsold inventory is at a 4.3-month supply at the current sales pace up from 4.1 months a year ago.”

A decade ago, prices began to rapidly depreciate in June 2007. At that time, we had a 9.1-month supply (more than double what it is today) and inventory kept rising until it hit a peak of 11.1 months in April of 2008.

With the current levels of buyer demand, any such increase in months supply is highly unlikely. As Danielle Hale, realtor.com’s Chief Economist explains:

 “After years of record-breaking inventory declines, September’s almost flat inventory signals a big change in the real estate market. Would-be buyers who had been waiting for a bigger selection of homes for sale may finally see more listings materialize. But don’t expect the level to jump dramatically.

Plenty of buyers in the market are scooping up homes as soon as they’re listed, which will keep national increases relatively small for the time being.”

What will be the result of the increase in inventory?

The increase in inventory will allow many families who had been unable to find a home to finally become homeowners. Again, we quote from the ‘Z Report’:

“In our view, the short-term narrative will probably be confusing, but more sustainable growth and affordability will likely be the end result.”

Bottom Line

If you are either a first-time or second-time buyer who has given up, let’s get together discuss the inventory available in our market.

 

 

 

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

Displaying blog entries 1-10 of 56

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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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