Real Estate Market Watch: Unparalleled Trust Necessary Before Listing Your House

You and your family have decided to sell your house. It is now time to choose a real estate professional to help with the process. One of the major attributes this agent must possess is trustworthiness. To what degree do you need to trust them?

You must have enough trust in them that you feel comfortable they will accomplish all four things below: 

1. Sell possibly the largest asset your family owns

In many cases, a home is the largest asset a family has. Studies have shown that the equity many families have in their home is the largest percentage of that family’s overall wealth. 

2. Set the correct market value on that asset

Pricing is crucial even in the best of markets. You want to get the best price for your home without putting your house at a value that buyers will have little interest in.

3. Set the time schedule for the liquidation of that asset

Your family probably has a certain timetable for the sale of your house and the move into your next home. Coordinating the home selling process to meet certain schedules can be tricky.

4. Set a fair fee for the services required to liquidate that asset

You will need to pay a commission to an agent for selling the home and coordinating all elements of the selling transaction, including possible future negotiations (ex. with a home inspector or appraiser).

That’s a lot of trust. Let’s get together to discuss the difference hiring a true professional can make in the sale of your home.

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Real Estate Market Watch: Sell NOW Before Competition Hits the Market

In their current edition of the Home Price Expectation Survey released last week, Pulsenomics asked this question of the 100+ economists, real estate experts and investment & market strategists they surveyed:

“In your opinion, what is the primary driver of recent home value growth in the U.S.?”

Here are the top four reasons given by those surveyed:

As we have stated before, the current lack of inventory in most housing markets has caused home appreciation to increase at greater percentages than historical averages. This means that this is a great time to sell your home as supply is low and demand is high.

However, things may be about to change…

The fortuitous situation sellers see themselves in may soon change for three reasons:

1. As more homeowners realize their equity situation has dramatically improved over the last four years, they will be more likely to put their homes on the market.
2. With the residential real estate sector outperforming a sluggish economy, more home builders will be looking to add new construction inventory to a depleted supply of housing stock.
3. Many banks are just now foreclosing on loans that have been delinquent since the housing bust. These houses will also be coming to market.

According to Daren Blomquist, senior vice president of RealtyTrac, in the Q2 2016 U.S. Residential Property Vacancy and Zombie Foreclosure Report:

“Lenders have been taking advantage of the strong seller’s market to dispose of lingering foreclosure inventory.” 

Bottom Line

In most housing markets, don’t wait for this additional competition to hit the market. If you are considering selling your house, now may be the time.

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Tucked away in quiet lake front community backing to corp. property & lake. Open David Weekly floorplan w 2 family rooms. 11212 WINDJAMMER, FRISCO TX 75034

$499,900

11212 WINDJAMMER, FRISCO TX 75034

Tucked away in quiet lake front community backing to corp. property & lake. Open David Weekly floor plan w 2 family rooms. 32 x 14 down and 20 x 27 living area up with half bath. Breakfast area,living & master have views of lake & golf courses at The Tribute. Enjoy your private covered patio overlooking lake. Community is next to golf courses at The Tribute. See info on media. The other room is workshop or hobby room with HVAC next to the garage.

• MLS# 13379297
• Residential
• 4 Bedrooms
• 2.2 Bathrooms
• 3100 Square Feet
• 3 Garage spaces
• Built in 1999
• 0.37 acres lot

List Firm – Keller Williams Realty Plano.

DETAILS

Property Features	Lake Front, Lake Front-Main Body, Landscaped, Lrg. Backyard Grass, Some Trees, Subdivision, Water/Lake View
School District	Little Elm
Association Fee	180
Foreclosure	No
Design	Single Detached
Garage Type	Attached, Garage Door Opener
Open house	No

UTILITIES

Heating

Central Air-Elec, Central Heat-Elec

FEATURES

Interior Features	Cable TV Available, Vaulted Ceilings, Window Coverings
Fireplace	Electric
Flooring	Carpet, Ceramic Tile
Exterior Features	Covered Porch(es), Gutters, Patio Covered, Sprinkler System, Workshop w/Electric
Construction	Brick
Foundation	Slab
Roof	Composition
Style	Traditional

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

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Market Watch: Where Are Home Values Headed Over the Next 5 Years?

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Home values will appreciate by 4.0% over the course of 2016, 3.4% in 2017 and 3.0% in the next two years, and finally 2.8% in 2020 (as shown below). That means the average annual appreciation will be 3.2% over the next 5 years.

The prediction for cumulative appreciation slowed slightly from 25.0% to 24.7% by 2020. The experts making up the most bearish quartile of the survey are still projecting a cumulative appreciation of 9.9%

Bottom Line

Individual opinions make headlines. We believe the survey is a fairer depiction of future values.

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3BR Awesome lot! Gorgeous Centex home-backs to wooded greenbelt. 1413 SPYGLASS, ALLEN TX 75002

$339,000

1413 SPYGLASS, ALLEN TX 75002

Gorgeous Centex home-backs to wooded greenbelt. Awesome lot! Flex-plan-study could be a living area! Elegant formal dining rm-wood floor. Large family room-tile floor-WBFP. Open dine-in island kit-Corian counters-42inch cab-gas cooktop, dbl ovens-micro-nook has window seat. Master & bath down-his-her van-garden tub-shower-Walk In Closet. Gameroom-2BR-bath up. Large arbor covered deck-open deck-benches-planters-speakers. Beautiful backyard-sprinklers. Comm pool-playground-parks.

• MLS# 13380309
• Residential
• 3 Bedrooms
• 2.1 Bathrooms
• 2619 Square Feet
• 2 Garage spaces
• Built in 2002
• 0.20 acres lot

List Firm – Keller Williams Realty Plano.

DETAILS

Property Features	Greenbelt, Interior Lot, Landscaped, Some Trees, Subdivision
School District	Allen
Association Fee	240
Foreclosure	No
Design	Single Detached
Garage Type	Attached, Covered, Front, Garage, Garage Door Opener, Over sized, Swing Drive

UTILITIES

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

FEATURES

Interior Features	Cable TV Available, Decorative Lighting, High Speed Internet Available, Sound System Wiring
Fireplace	Wood Burning
Flooring	Carpet, Ceramic Tile, Wood
Exterior Features	Covered Deck, Covered Porch(es), Deck, Gutters, Lighting System, Patio Covered, Sprinkler System
Construction	Brick
Foundation	Slab
Roof	Composition
Style	Traditional
Fencing	Metal, Wood

CLICK HERE FOR YOUR PERSONALIZED HOME SEARCH!!!

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Awesome 4 bedroom, 3.5 baths and 2 living areas. New roof & gutters. Great drive up with circle drive. 1708 ENDICOTT, PLANO TX 75025

$379,900

1708 ENDICOTT, PLANO TX 75025

This 4 bedroom, 3.5 baths and 2 living areas & study had an appr. $100k update in 2011. The outdoor kitchen and covered flagstone patio & pergola highlight the pool & backyard with extra boat pad. Kit has granite, travertine floor, SS appl’s, engr. wood floors downstairs– Master bath with granite & silestone, glass shower. 2nd master upstairs. New roof & gutters. Great drive up with circle drive.

• MLS# 13382228
• Residential
• 4 Bedrooms
• 3.1 Bathrooms
• 3164 Square Feet
• 2 Garage spaces
• Built in 1991
• 0.22 acres lot

List Firm – Keller Williams Realty Plano.

DETAILS

Pool	Attached Spa, Cleaning System, Heated, In Ground Gunite, Play Pool
Property Features	Interior Lot, Landscaped
School District	Plano
Foreclosure	No
Design	Single Detached
Garage Type	Attached, Circle Drive, Opener

UTILITIES

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

FEATURES

Interior Features	Flat Screen Wiring, High Speed Internet Available, Window Coverings
Fireplace	Gas Logs, Gas Starter
Flooring	Carpet, Ceramic Tile, Wood
Exterior Features	Attached Grill, Covered Porch(es), Gazebo/Pergola, Gutters, Outdoor Living Center, Patio Covered, RV/ Boat Parking, 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!

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

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:

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!

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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

$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!

 

Real Estate Market Watch: Are Foreclosures Increasing or Decreasing?

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).

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

$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!

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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!