Tag Archives: Buyer

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

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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:

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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

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$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

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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!

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

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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.

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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%

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Bottom Line

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

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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!

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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.

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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!

 

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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

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$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

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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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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!!!

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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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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