Category Archives: little elm

Real Estate Market Watch: When Is It A Good Time To Rent? Definitely NOT NOW!

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People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

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A recent Wall Street Journal article reports that rents rose “faster last year than at any time since 2007, a boon for landlords but one that has stoked concerns about housing affordability for renters.”

The article also cited results from a recent Reis Inc. report which revealed that average effective rents rose 4.6% in 2015, the biggest gain since before the recession. Over the past 15 years, rents have risen at a rate of 2.7% annually. 

Where are rents headed?

Jonathan Smoke, Chief Economist at realtor.com recently warned that:

“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”  

Bottom Line

NAR’s Chief Economist, Lawrence Yun had this to say in the latest Existing Home Sales Report:

 “With rents steadily rising and average fixed rates well below 4 percent, qualified first-time buyers should be more active participants than what they are right now.”

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let’s meet up to determine if you are able to today!

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

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Pristine end unit in Cascades with lovely green-space, Close to 121, Dallas Tollway, Shops of Legacy, Stonebriar Mall, Restaurants and so much more! 5968 LOST VALLEY, THE COLONY TX 75056

1 (2)

$245,000

5968 LOST VALLEY, THE COLONY TX 75056

Pristine end unit in Cascades with lovely green-space beside home. This wonderful home boasts gorgeous cabinetry, trim work , open floor plan, high ceilings, large living room and more. Master bath has a separate shower and garden tub. Close to 121, Dallas Tollway, Shops of Legacy, Stonebriar Mall, Restaurants and so much more!!!

  • MLS# 13369743
  • Residential
  • 3 Bedrooms
  • 2.1 Bathrooms
  • 1806 Square Feet
  • 2 Garage spaces
  • Built in 2009
  • 0.10 acres lot
List Firm – Keller Williams Realty Plano.

DETAILS

Property Features Corner
School District Lewisville
Association Fee 578
Foreclosure No
Design Condo/Town-home
Garage Type Attached, Front, Garage Door Opener

UTILITIES

Heating Central Air-Elec, Central Heat-Elec
Sewer Type City Sewer

FEATURES

Interior Features Cable TV Available, Decorative Lighting, High Speed Internet Available, Window Coverings
Flooring Carpet, Ceramic Tile
Exterior Features Covered Porch(es), Sprinkler System
Construction Brick
Foundation Slab
Roof Composition
Style Traditional
Fencing Wood

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

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Fresh Listings! Just listed McKinney Area! Don’t miss out!

Want to know the value of your home?  Click here: Find Your Homes Value Now For FREE.

Want to learn more information about a specific property?  Click here: The Kimberly Davis Group-Looking to Buy or Sell… The Kimberly Davis Group is ranked #1!

 

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Real Estate Market Watch: Are Foreclosures Increasing or Decreasing?

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Recently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market.

CoreLogic, in their most recent National Foreclosure Report, reported that foreclosure inventory has decreased by 23.2% since this time last year. The report also showed that foreclosure inventory has decreased in 49 of the 50 states and that 45 states have posted a year-over-year, double-digit decline (see chart below).

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Other findings in the report:

  • The Seriously Delinquent Rate (homeowners more than 90 days behind in their mortgage payment) is 3.1% which is the lowest level since November 2007
  • The Foreclosure Rate is 1.1% which is also the lowest level since November 2007
  • This was the 53rd consecutive month that showed a decline in the Foreclosure Rate

Bottom Line

Though foreclosures do remain in the market, the number is dramatically decreasing. The fact that mortgage delinquency rates are also decreasing means the worst of the foreclosure crisis is in the rear view mirror.

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

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Fresh Listings! Just listed McKinney Area! Don’t miss out!

Want to know the value of your home?  Click here: Find Your Homes Value Now For FREE.

Want to learn more information about a specific property?  Click here: The Kimberly Davis Group-Looking to Buy or Sell… The Kimberly Davis Group is ranked #1!

 

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Highly customized Landon Home on private cul de sac in Austin Ridge. Beautiful hardwoods and soaring ceilings, 1040 ECHO BEND, FRISCO TX 75034

1 (1)

$407,000 

1040 ECHO BEND, FRISCO TX 75034

Highly customized Landon Home on private cul de sac in Austin Ridge. Energy Star Certified w tankless water heater,low E windows and radiant barrier. Master and guest suite down w 3 additional bedrooms and game room up. Beautiful hardwoods and soaring ceilings that allow for ample natural light w elegant floor to ceiling fireplace. Gourmet kitchen w stainless steel appliances,cabinetry galore w pull out spice racks,gas cooktop w large island

  • MLS# 13376918
  • Residential
  • 5 Bedrooms
  • 3 Bathrooms
  • 2909 Square Feet
  • 2 Garage spaces
  • Built in 2011
  • 0.17 acres lot
List Firm – Keller Williams Realty Plano.

DETAILS

Property Features Cul De Sac, Interior Lot, Landscaped
School District Frisco
Association Fee 496
Foreclosure No
Design Single Detached
Garage Type Attached, Garage, Garage Door Opener, Rear

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

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Fresh Listings! Just listed McKinney Area! Don’t miss out!

Want to know the value of your home?  Click here: Find Your Homes Value Now For FREE.

Want to learn more information about a specific property?  Click here: The Kimberly Davis Group-Looking to Buy or Sell… The Kimberly Davis Group is ranked #1!

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Fantastic location for this great family home in Hillcrest Estates. Wonderful open floor plan with split master 10112 ANNE, FRISCO TX 75035

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Fantastic location for this great family home in Hillcrest Estates. Wonderful open floor plan with split master, 2 living, Enormous Kitchen Perfect for Entertaining with Granite counter tops, SS Appliances, Extensive Wood Floors, Large Study w French Doors. Sparkling Pool & Spa with Board on Board fence for extra privacy. 3rd bedroom is currently used as study. Walking distance to elementary, middle and new high school-Lebanon Trail.

  • MLS# 13361157
  • Residential
  • 3 Bedrooms
  • 2 Bathrooms
  • 2377 Square Feet
  • 2 Garage spaces
  • Built in 1994
  • 0.17 acres lot
List Firm – Keller Williams Realty Plano.

DETAILS

Pool Attached Spa, Cleaning System, Heated, In Ground Gunite
Property Features Interior Lot, Landscaped, Some Trees, Subdivision
School District Frisco
Foreclosure No
Design Single Detached
Garage Type Attached, Garage Door Opener, Rear

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

Like us on Facebook: The Kimberly Davis Group

Fresh Listings! Just listed McKinney Area! Don’t miss out!

Want to know the value of your home?  Click here: Find Your Homes Value Now For FREE.

Want to learn more information about a specific property?  Click here: The Kimberly Davis Group-Looking to Buy or Sell… The Kimberly Davis Group is ranked #1!

 

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Seller’s Market: Is it Time to Downsize?

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A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their house in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market.

In a recent blog, Dave Ramsey, the financial guru, highlighted the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing:

  1. A smaller home means less space, but it also means less time, stress and money spent on upkeep.
  2. Let’s assume you save $500 a month on your mortgage payment. In 30 years, you could have an additional $1–1.6 million in the bank to get you through your golden years.
  3. Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down! If you can’t pay cash, aim for a 15-year fixed rate mortgage and put at least 10–20% down on your new home. Apply the $500 you saved from downsizing to your new monthly payment. At 3% interest, you could pay off a $200,000 mortgage in less than 10.5 years, saving almost $16,000 in the process.

Realtor.com also addressed downsizing in a recent article. They suggest that you ask yourself some questions before deciding if downsizing is right for you and your family. Here are two of their questions followed by their answers (in italics) and some additional information that could help. 

Q: What kind of lifestyle do I want after I downsize?

A: “For some folks, it’s a matter of living a simpler life focused on family. Some might want to cross off travel destinations on their bucket lists. Some might want a low-maintenance community with high-end upgrades and social events. Decide what you want to achieve from your move first, and you’ll be able to better narrow down your housing options.”

Comments: Many homeowners are taking the profit from the sale of their current home and splitting it in order to put down payments on a smaller home in their current location, as well as a vacation/retirement home where they plan to live when they retire.

This allows them to lock in the home price and mortgage interest rate at today’s values. This makes sense financially as both home prices and interest rates are projected to rise.

Q: Have I built up enough equity in my current home to make a profit?

A: “For most homeowners, the answer is yes. This is if they’ve held on to their properties long enough to have positive equity that will be sizable enough to put a large down payment on their next home.”

Comments: A study by Fannie Mae revealed that only 37% of Americans believe that they have significant equity (> 20%) in their current home. In actuality, CoreLogic’s latest Equity Report revealed that 72.6% have greater than 20% equity. That equity could enable you to build the life you’ve always dreamt about. 

Bottom Line

If you are debating downsizing your home and want to evaluate the options you currently have, let’s meet up so I can help guide you through the process.

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

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Fresh Listings! Just listed McKinney Area! Don’t miss out!

Want to know the value of your home?  Click here: Find Your Homes Value Now For FREE.

Want to learn more information about a specific property?  Click here: The Kimberly Davis Group-Looking to Buy or Sell… The Kimberly Davis Group is ranked #1!

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Frisco ISD Home Under $200K~This North Facing 1-Story Plan Home Is Move In Ready~Great For First Time Home Buyer $165,000 8849 MARILYN DRIVE FRISCO, TX

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$165,000 8849 MARILYN DRIVE FRISCO, TX

MLS: 13378951   Type: Single Family   County: Collin   City: Frisco   Neighborhood: Preston Manor   Zip: 75033   Style:Traditional   # Rooms: 6    Stories: 1   Taxes: $2,926

BEDS

BATHS

HALF BATHS

SQR FOOTAGE

LOT SIZE

BUILT

3

2

0

1,482

7,841

1985

Frisco ISD Home Under $200K~This North Facing 1-Story Plan Home Is Move In Ready~Great For First Time Home Buyer~Perfect For Investor~Built-in Cabinets In Family Room With Stone Fireplace~Open Kitchen~Cul-De-Sac Lot~French Doors in Master Lead to Large Backyard~A Must See.

ELEMENTARY SCHOOL

MIDDLE SCHOOL

HIGH SCHOOL

Rogers
Distance: 0.66 Miles
Staley
Distance: 0.92 Miles
Wakeland
Distance: 2.56 Miles

PRICE HISTORY

5/16/2016 Listed $165,000

Accessory Unit Yn 0
Association Type None
Block 3
Energy Saving Features Ceiling Fans, Gas Water Heater, Storm Door(s)
Handicap Access 0
Listing Area FRISCO / DENTON COUNTY EAST AREA (55)
Lot Number 7
Other Equipment Dishwasher, Disposal, Range/Oven-Electric, Refrigerator, Vent Mechanism, Water Line to Refrigerator
Property Type Residential
School District Frisco ISD
School Name Rogers
Sub Area FRISCO (1)
Transaction Type For Sale
Type RES-Single Family
Year Built Details Preowned

INTERIOR FEATURES

Fireplace Gas Logs, Gas Starter, Stone, Wood Burning
Fireplaces Total 1
Flooring Carpet, Ceramic Tile, Vinyl
Heating Central Air-Elec, Central Heat-Gas
Interior Features Bay Windows, High Speed Internet Available
Number Of Dining Areas 1
Number Of Living Areas 1
Room Count 6
Security System Yn 0
Sq Ft Total 1482

EXTERIOR FEATURES

Construction Materials Brick
Exterior Gutters, Patio Open, Sprinkler System
Fencing Wood
Foundation Details Slab
Garage Depth 19
Garage Width 14
Lot Cul De Sac, Heavily Treed, Interior Lot, Landscaped, Lrg. Backyard Grass, Some Trees, Subdivision
Lot Area .5 Acre to .99 Acre
Lot Size Area 0.180
Lot Size Area (acres) 0.180
Lot Size Area (sq Ft) 7840
Lot Size Units Acres
Parking Features Attached, Front, Garage Door Opener
Parking Spaces Carport 0
Parking Spaces Covered Total 1
Parking Spaces Garage 1
Pool 0
Soil Type Unknown
Structural Style Single Detached
Style Traditional

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

Like us on Facebook: The Kimberly Davis Group

Fresh Listings! Just listed McKinney Area! Don’t miss out!

Want to know the value of your home?  Click here: Find Your Homes Value Now For FREE.

Want to learn more information about a specific property?  Click here: The Kimberly Davis Group-Looking to Buy or Sell… The Kimberly Davis Group is ranked #1!

 

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Filed under Frisco, Home Buyer, Home for Sale, Home Listings, kimberly davis group, little elm, McKinney, north Texas homes for sale, plano, Providence Village, the colony homes for sale, TX, Uncategorized