Real Estate Information Archive

Blog

Displaying blog entries 1-9 of 9

1468 Echols Dr Frisco TX | Just Reduced!

by Christie Cannon

Exceptional custom-built Toll Brothers dream home in sought after Phillips Creek Ranch! Luxurious upgrades throughout! Rich handscraped hardwoods, elegant lighting, dramatic architecture & grand entry designed to impress. Formal dining & executive study. Chef’s Dream massive island kitchen boasts professional grade appliances, stone counters, double ovens & wine fridge. Family great room with surround sound & towering windows. Private master suite & stunning spa bath. 2nd floor enjoys game room & huge media with 7.1 surround sound. 5th bedroom with ensuite bath or second master. Relax on the pergola covered patio overlooking the oversized backyard-perfect for future pool, pets & play! Amazing location & neighborhood amenities! Nestled on a gorgeous oversized lot in the award winning community of Phillips Creek Ranch, featuring more than 100 acres of green space, lakes, an extensive creek system, trails, parks and premier amenities, you will find this stunning 5-bedroom home. Enjoy relaxing evenings on the pergola covered patio overlooking the oversized backyard-perfect for future pool, pets & play! Located in highly desired West Frisco, with easy access to award winning schools, shopping, dining & entertainment.

Luxury Home Buying in Frisco & North Texas

by Christie Cannon

Looking to Make a Move Up to a Luxury Home? Now maybe the Time!

Moving-Up to a Luxury Home? Now’s the Time! | MyKCM

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.

The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.

The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:

“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”

The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.

 

For more information, please contact us at 469-951-9588

 

Christie Cannon

The Christie Cannon Team

Keller Williams Frisco TX

469-951-9588

www.ChristieCannon.com

"Shift Happens"

by Christie Cannon
September 26, 2017
 
In real estate, like life, change is the only constant. The first thing I want you to be aware of is that “shift happens.”  Shift isn’t a bad word. It is simply a change in the trends we are seeing the market.  Reviewing these changes helps us determine reasonable expectations & where to focus effort to best assist you with the sale of your home.
 
This year we believe that we are seeing the market shifting beyond the seasonal fall/winter cycle.  We, like many industry experts, believe we are seeing a return to greater balance in the real estate market.  It's still a Seller's market though - the graph below shows where the sellers market, neutral market and buyers market begin to change.  A seller market means we will still see some appreciation in our home prices.
 
undefined
 
What trends are we are seeing in the market today:
 
1.  Again, the sky isn’t falling.  We are discussing a slight change, not a panic.  That means a little longer time on market and we need to pay more attention to ensuring your home is priced right and not too high as the consumer will not react as favorably to the higher prices when there's more to choose from.
a.  TX economics remain strong & the “attractiveness” of our cities remains high.
 
b.  Corporate relocations continue to be drawn to our area.
2.  Prices remain stable. 
a.  Prices in most market areas are still seeing slight increases; however, the pace of increase has slowed dramatically &/or stabilized in almost every area. 
 
b.  For many months, sellers have been able to “ratchet” up their listing price as each home in the community has sold.  This strategy has proven to reach a limit.  We are now seeing large amounts of price reductions daily.  Likewise, there are an increasing number of homes that are having appraisal issues, where a lender’s independent valuation of a home is coming in less than the contracted sales price. 
 
c.  A strong pricing strategy remains among the most critical aspects of selling a home. 
3.  Inventory is increasing & in some areas increasing quickly.
a.  One of the primary drivers that have fueled real estate’s strong numbers over the past few years has been a low inventory environment.  The inventory in almost all price points and cities is on the rise.
 
We measure inventory in both total number & “month supply”.  Month supply is simply the time it would take to sell the existing inventory if new listings ceased coming on the market.
 
 I'll use Frisco as an example of this increase in inventory.  Frisco’s housing supply has increased every month since December 2016.  In fact, August 2017’s inventory was just under double from December 2016.  This is reflected in August as 1,094 homes listed with 320 homes selling for a 3.8 month supply.  This holds true for most of the surrounding cities as well. 
4.  Days on market are increasing, and houses are still selling.
a.  As you can envision, when inventory increases, days on market also rise.  The increase of days on market often slightly lags the changes to “month supply”.
 
b.  It may be surprising, but the average days on market are as high as 90+ days in some price ranges, even in the most popular markets.
5.  Buyers have more choices.  This is a critical take away! 
a.  When buyers have more choice, Price, Condition, & Location become key!
 How do we prepare for this “shift”?
 
1.  Strong pricing strategy remains among the most critical aspects of selling a home in an environment where buyers have choice.
a.  Our listings that elect to utilize a smart pricing strategy often still see multiple offers & shorter days on market.  There is always a balance between Days on Market & Price.
b.  Expect to see elevated levels of price competition. Timely price adjustments increase timely closing probability & reduces time on market.
c.  Simply imagine you are purchase a new car.  There are 3x dealerships offering the model & features you want. 1x of the 3 dealerships is offering theirs’ for $5k less.  Most buyer’s are not going to make an offer or negotiate with the 2x at higher prices to see if they can make it work; they will simply go the lowest price dealership first & attempt to negotiate.  Should that fail buyers will move to the higher prices to negotiate.
2.  Pay attention to changes in Showing Traffic relative to competition.
a.  Higher relative seller/buyer ratios (month’s supply) reflect a more competitive market for sellers.
b.  Having a large number of showings relative to other similar properties without an offer (or with a lot of low offers) is a strong indication of overpricing.  The image below provides an overview of how showings, or lack thereof, can be viewed in terms of pricing strategies:
Related image
 
 
What are some of the things The Christie Cannon Team of KW Frisco has done to be ahead of these challenges?
 
1.  Expanded our marketing team to include an in-house designer to ensure your home is well prepared & properly marketed.  If you think you need a refresher at this time, let us know and we will gladly arrange a time with our designer to come visit with you at your convenience. She is also reviewing your listing photos, marketing campaigns and sites to help improve wherever we can to gain more buyer interest. 
 2.  Conduct more frequent digital marketing reviews for your home, to ensure our listings continue to capture a larger share of interest from buyers.
3.  Expanded our Inside Sales Agent team to increase our ability to directly call agents & prospective buyers who have expressed interest in your home or previously toured your home.
4.  Increased our digital marketing campaigns to include banner ads& more direct to consumer marketing and re-targeting branding with your home. 
5.  Reverse prospecting (where we contact the agents that have clients searching for your “type” home.)
6.  Increase agent & broker tours and direct agent to agent marketing to better introduce and keep your home in front of the market.
7.  The introduction of Special Financing options available exclusively to our KW clients & our KW listings to assist with incentives to buyers and help you stand out!
 
My goal is to arm you with the best information so you can be prepared to make informed decisions about getting your home sold.
Looking for more info?  We are always happy to help.  Remember, we review each any every home we have on the market regularly & consistently to help you get SOLD!!  
 
Written by Christie and Kevin Cannon / Keller Williams Realty / no unauthorized use or copy permitted. www.christiecannon.com | 972.215.7747
 
The Christie Cannon Team | Keller Williams Frisco TX | 4783 Preston Rd #300

We are BEYOND thankful for all of our clients! We would not be here where we are without you.

As Featured on the KW.com Blog:

Relationships have formed the foundation for successful businesses for centuries, but how those relationships can benefit a business has evolved over time. Today, client relationships that result in referrals can fuel your growth and success both online and off.

Christie Cannon, a Keller Williams Luxury Homes International agent who specializes in Frisco and its surrounding communities north of Dallas, has put those referrals to work for her in a Texas-sized way.

Christie Cannon Keller Williams OutFront

“More than half of our business comes from referrals,” Cannon says. Through sourcing her business, Cannon finds that many new clients heard about her from a previous client.

Cannon’s results speak for themselves. Her team closed $112 million in sales in 2016, a 28 percent increase from the previous year. The results are particularly remarkable given the unexpected challenge they were presented.  

Cannon’s husband and team member, Kevin Cannon, was diagnosed with stage two breast cancer. He began aggressive chemotherapy, followed by a double mastectomy and 30 radiation treatments.  

“It was heartbreaking for us. We were unsure where the situation would take us,” says Christie. “Thankfully, Kevin is now fully recovered and back to working full time. The challenge really brought to light how strong our team is. Everyone rallied together to create the best year yet.” 

Upward momentum continues for Cannon and her team.  They currently have 65 active listings and 50 pending transactions, not to mention plans for a 20 percent increase in production this year. This projected growth undoubtedly will be aided by her strong referral program.

 

Cannon builds a strong referral program

“Reaching out to current, past and future clients is so important because they all have a referral to give,” she says. “The most important part of building a referral-based business is building strong business relationships with your clients along the way.”

In order to build those relationships, Cannon and her team have created a solid referral protocol for each and every one of her customers and clients. “Every person in our database is on an action plan of some kind. Each action plan is set up to cater to the specific needs of each contact. The activities in our action plans will vary, but they all include offering something of value to each person. Our contacts are the heart of our company, and we treat them as such.”

When the team receives a referral, the client is sent a handwritten thank-you card as well as a small gift. That strategy has paid dividends dating back to Cannon’s very first client in 2003.

“Ironically enough, one of my very first transactions was a small $48,000 home, and to this date, that client has completed five other transactions with me and is still referring business to me,” she says. “I started getting my systems in place early on, and the systems are what helped me get organized and get in touch to grow and foster relationships with my clients. They have helped us maintain a consistent year-over-year growth pattern and get to where we are now.”

The value of referrals

Now that Cannon and her team are part of KW Luxury International, she has discovered that those referrals are even more valuable to her success.

“Luxury home buyers and sellers are very seasoned,” Cannon says. “They rely heavily upon advice from people they trust. Keeping your name in front of the luxury market is important in maintaining a strong referral base.”

While clients are the first ones that referral strategies are typically aimed at, Cannon also works hard to earn referrals from her local real estate colleagues and peers. To that end, she is committed to participating in networking events with other agents in and around her area. The best method she has found for earning those referrals is an unyielding dedication to professionalism.

“We have had agents – even within our own area – refer business to us,” she says. “It is such an honor to get a referral from another colleague. It’s important to maintain a professional relationship with not only your clients but also with your colleagues, as you may work with them multiple times over.”

Keep clients first

For agents who are working to assemble a solid referral strategy, Cannon suggests keeping the client as your central focus.

“A big mistake I see in a lot of agents is making this business all about them,” she says. “While we want to brand ourselves and relate to our clients, it’s not about you. This business is about catering to the needs of our clients and offering them a service and skill they can’t get anywhere else.”

Lead generate, lead generate, lead generate

In order to increase the amount of referrals you receive, Cannon suggests going back to the basics. “The models and systems are there, so don’t skimp on your lead generation,” she says. “As part of your lead generation, you should be reaching out to your sphere and past clients every day. Put everyone you know into your CRM and get them set up on some type of action plan. Reach out to your contacts on a regular basis by sending handwritten notes, making phone calls and sending items of value to them. This is all part of an action plan.”

Cannon stresses that an action plan only works if you keep your clients’ needs in mind.

“If you’re sending something of value to your contacts, they have a reason to continue to receive information from you,” she says.

At the end of the day, Cannon credits the Keller Williams models and systems for her team’s impressive growth.

“It took me trying to invent my own models and systems several times over and failing before I realized how much Keller Williams has to offer,” she says. “We will continue to improve and streamline our systems as we grow and plan on attending Family Reunion and Mega Camp each year. The best is yet to come!”

Cannon’s story illustrates how past clients are one of the most reliable sources for leads, but it takes consistent follow-up with your database to ensure that you remain top-of-mind.

The Christie Cannon Team | Keller Williams Frisco TX | www.christiecannon.com

4783 Preston Rd #300 Frisco TX

The Christie Cannon Team was Named to the 2017 REAL Trends America’s Best Real Estate Agents List

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 Agents, the newly issued ranking report produced by REAL Trends and sponsored by Zillow Group

REAL Trends America’s Best Real Estate Agents ranks over 12,600 residential real estate professionals solely based on their excellence in real estate sales during calendar year 2016. 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, publisher of REAL Trends America’s Best Real Estate Agents 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 2016. 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 transaction sides and an average sales volume of almost $37 million. Teams ranked in America’s Best Real Estate Agents had an average of 144 sides and an average sales volume of almost $61 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 8.6 transaction in 2016 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 two of the nation’s most prominent online real estate websites, Trulia® and Zillow®, have partnered with REAL Trends to bring a superior level of customer exposure of these sales agents’ performance,” Murray added.

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

The Christie Cannon Team | Keller Williams Frisco TX | www.christiecannon.com

4783 Preston Rd #300 Frisco TX

Green Meadows in Celina TX

by Christie Cannon

Celina TX's explosive growth is expected to continue well past 2016 with one of their latest large master planned communities with Green Meadows.  This latest 1,400 acre community by Tomlin Investments is expected to be over 4,500 single-family homes once completed.  Amenities are planned to include multiple swimming pools, community gardens, dog park, playgrounds, walking trails, sand lot volleyball courts, a massive outdoor grilling area with a fire pit, a $4.5m amenity center, and even an in-community day-care (expected to arriving in phase III). 

Dallas Morning News reported the developer as expecting to be approximately 90 days from starting.  Dan Tomlim (of Tomlin Investments) offered to Steve Brown of DMN that while builders have not yet been expected, they are forecasting a target starting price of about $350K.  

The community boasts a premium location approximately 10 miles north of 121 fronting Legacy Rd, just west of the Tollway & south of the expanding Collin County Outer-Loop. 

Additional concept plans can be found here!


CHRISTIE CANNON  REALTOR

The Christie Cannon Team

Keller Williams Frisco

469.951.9588: Mobile

www.ChristieCannon.com

 

Voted as one of the BEST Realtors in D Magazine for 2010-2016

Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine

Name among America's Best Real Estate Agents by Real Trends Magazine

Certified Luxury Home Marketing Specialist

#1 Keller Williams Agent 2011-2015

Top 100 Agents in the Nation / KW

Frisco RoughRiders Unveil Plans For Lazy River

by Christie Cannon

The Frisco's RoughRider's stadium is about to go over-the-top with a lazy river & pool!  Just in case the game gets slow - check out the lazy river & pool / party zone for the outfield!

Check the video below to see the amazing new concept!

Where are Americans moving to?

by Christie Cannon

- Christie Cannon - Keller-Williams-Frisco

Frisco Prices Since 2006 - see how they rise!

by Christie Cannon

Single-Family, Pre-Owned homes in Frisco reflected as average price.

Have a question or wish to see additional data?  Please give us a call!

Christie Cannon - 469-951-9588 - Keller Williams Frisco

CLICK HERE for larger version

Displaying blog entries 1-9 of 9

Syndication

Categories

Archives

Share This Page

Contact Information

Photo of Christie Cannon Real Estate
Christie Cannon
Keller Williams Realty
4783 Preston Road #300
Frisco TX 75034
469-951-9588
972-215-7747
Fax: 214-853-4774

Keller Williams Frisco - Christie Cannon - http://www.christiecannon.com