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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

 

Belief in Homeownership as an Investment is Far from Dead

by Christie Cannon

Belief in Homeownership as an Investment is Far from Dead

Belief in Homeownership as an Investment is Far from Dead | MyKCM

Following last year’s real estate market was like riding a rollercoaster. The market started off strong in 2018 and then softened before finishing with a mild flurry. However, one thing that did not waiver was America’s belief that owning a home makes sense from a financial standpoint.

An end-of-the-year survey by the Federal Reserve Bank’s Center for Microeconomic Data revealed that:

“The majority of households continue to view housing as a good financial investment.”

And that percentage has increased over the last three years.

 

Belief in Homeownership as an Investment is Far from Dead | MyKCM

Bottom Line

Though there is some uncertainty as to how the real estate market will perform over the next twelve months, one thing remains very certain: America’s belief in homeownership.

 

 

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

Frisco's Tallest New Tower Rises Above the Rest

by Christie Cannon

Frisco's Tallest New Tower Rises Above the Rest

Construction is moving right along on the newest & tallest tower to line Frisco's skyline. The new 25-story SkyHouse Frisco Station apartment tower will be lining the west side of the Dallas North Tollway near Warren Parkway.  Set to open in September of 2019, the building will house 332 luxury rental units. The high-rise is part of the $1.5 billion mixed-use Frisco Station development. 

"SkyHouse Frisco Station is on schedule, and we are pleased to be that much closer to offering residents the opportunity to be among the first to live in this unique building centrally located in the Hub, the centerpiece of Frisco Station," Jim Borders, president of Novare Group, said in a statement.

Frisco Station touts itself as a "feel-good place". The exciting new-urban development is the first in North Texas to address the total “well-being” of all who visit, live and work here. They are building the community around an innovative wellness program that brings together fitness amenities, medical facilities and wellness programming in a brand new way. These offerings make it easier than ever to achieve the ideal work-life balance and enjoy a healthy lifestyle, while being surrounded by the latest technology at every corner.

 

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

Where is the Housing Market Headed in 2019?

by Christie Cannon

Where is the Housing Market Headed in 2019?

Where is the Housing Market Headed in 2019? [INFOGRAPHIC] | MyKCM

Some Highlights:

  • ­Interest rates are projected to increase steadily throughout 2019, but buyers will still be able to lock in a rate lower than their parents or grandparents did when they bought their homes!
  • Home prices will rise at a rate of 4.8% over the course of 2019 according to CoreLogic.
  • All four major reporting agencies believe that home sales will outpace 2018!

 

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

24 Hours that Suddenly Improved the Market

by Christie Cannon

24 Hours that Suddenly Improved the Market

24 Hours that Suddenly Improved the Market | MyKCM

This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months in a row.

To many, the outlook heading into 2019 appeared dim… at best.

Then, in a 24-hour window last week, things seemed to change. On Wednesday, the National Association of Realtors’ (NAR) revealed in their Existing Homes Sales Report that home sales had INCREASED for the second consecutive month. The next day, NAR’s economic research team announced that the percentage of first-time buyers in the market was higher than last month and even higher than a year ago.

What happened to turn around the downward momentum in the market? 

You only needed to wait a few hours to find out. On the heels of NAR’s revelations, Zillow released their November Real Estate Market Report that explained:

“After nearly four years of annual declines in inventory, the number of homes for sale has now increased year-over-year for three straight months…”

Ending 2018, we now know two things:

  1. Listing inventory increased over the last three months
  2. Home sales increased over the last two months

Maybe a lack of inventory was the major challenge all along.

But, what about those pesky interest rates?

Last Thursday (the day after all of the above news), Freddie Mac announced that mortgage rates did not increase but instead decreased…again. From their release:

“The response to the recent decline in mortgage rates is already being felt in the housing market. After declining for six consecutive months, existing home sales finally rose in October and November and are essentially at the same level as during the summer months.

This modest rebound in sales indicates that homebuyers are very sensitive to mortgage rate changes – and given the further drop in rates we’ve seen this month, we expect to see a modest rebound in home sales as well.”

Bottom Line

Will 2019 start out better than many have predicted? Perhaps, but we’ll have to wait and see. Things do look much better today, though, than they did just a month ago.

 

 

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

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

Displaying blog entries 1-10 of 85

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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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