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Real Estate Market Watch: A Possible Housing Meltdown? These Experts Respectfully Disagree

Housing-Meltdown-STM

We want to let you know that “rumors of a new market meltdown” are not based on any reputable data. As proof, we offer you the comments of the following experts who have a totally different view on the current housing market.

Lawrence Yun, Chief Economist at NAR:

In spite of deficient supply levels, stock market volatility and the paltry economic growth seen so far this year, the housing market did show resilience and had its best first quarter of existing-sales since 2007.”

Jonathan Smoke, Chief Economist at realtor.com:

“We had a triple crown of April home sales reports, so 2016 is in the pole position to earn best year of home sales in a decade.”

Andrea Riquier, MarketWatch housing reporter:

“I’m calling the end of the housing “recovery.” On to ‘expansion.’”

Freddie Mac:

“Despite the disappointing economic reports, we still forecast housing to maintain its momentum in 2016.”

Steven Russolillo, Wall Street Journal housing reporter:

“A recent gauge of home builder sentiment held firmly in positive territory, according to the National Association of Home Builders. Perhaps more important, expectations for sales in the next six months jumped to the highest level of the year.”

Fannie Mae:

“Our latest housing tracker shows that the first quarter of 2016 was the second fastest first quarter pace of home sales in the past decade… Home sales typically rise in the spring and summer months, and we anticipate an acceleration in home sales that will surpass 2007’s pace by late summer.”

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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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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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Market Watch: Recent Housing Market Snapshot

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Some Highlights:

  • Home sales are up 1.5% year-over-year and 5.1% month-over-month.
  • Demand is still much higher than the available housing inventory which declined 2.2% from March 2015.
  • This is the 49th consecutive month with year-0ver-year price gains.

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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Market Watch: 4 Reasons to Move Up to Your Dream Home This Spring

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Spring is in full force; the summer months are right around the corner. If you are debating moving up to your dream home, here are four great reasons to consider listing your current home and moving up to your dream home now, instead of waiting.

1. Buyer Demand is High & Inventory is Low

Recent numbers show that buyer demand is at the highest peak experienced in years, and inventory for sale is at a 4.5-month supply, which is still markedly lower than the 6 months needed for a historically normal market.

Demand in many markets is far exceeding the supply, and more properties in March sold in less than 30 days (42%) than in any month since last July.

Listing your home today can greatly increase exposure to buyers who are out in force and ready to act.

2. Prices Will Continue to Rise

CoreLogic recently released their latest Home Price Index in which they predict that national home values will appreciate by 5.3% by this time next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting for your current home’s value to increase before selling could price you out of your new home if you aren’t careful.

3. Mortgage Interest Rates Are Still Near Record Lows

Interest rates have remained below 4% for some time now and are substantially lower than the rate previous generations paid when getting a mortgage.

The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will rise over the next 12 months.

An increase in rates will impact YOUR monthly mortgage payment. Even an increase of half a percentage point can put a dent in your family’s net worth. Whether you are moving up or buying your first home, your housing expense will be more a year from now if a mortgage is necessary to purchase your home.

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Have you always wanted to live in a certain neighborhood? Would a climate change be just what the doctor ordered? Would you like to be closer to your family?

Bottom Line

If the right thing for you and your family is to move up to the home of your dreams this year, buying sooner rather than later could lead to substantial savings.

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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Listing your home? Why You Should Sell Now… Before Winter Hits

People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year-round weather or perhaps move across the state for better job opportunities.

Homeowners in this situation must consider whether they should sell their house now or wait. If you are one of these potential sellers, here are five important reasons to do it now versus the dead of winter.

1. Demand is Strong

Foot traffic refers to the number of people out actually physically looking at home right now. The latest foot traffic numbers show that buyers are still out in force looking for their dream home. These buyers are ready, willing and able to buy…and are in the market right now!

As we get later into the year, many people have other things (weather, holidays, etc.) that distract them from searching for a home. Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing supply is still well under the 6 months’ supply necessary for a normal market. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.

Also, new construction of single-family homes is again beginning to increase. A study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the housing market in recent times has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. Any delay in the process is always prolonged during the winter holiday season. Getting your house sold and closed before those delays begin will lend itself to a smoother transaction.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 18.1% from now to 2019. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to rise by this time next year.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Like us on Facebook: The Kimberly Davis Group

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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Slaying Myths About Buying A Home, Call us now and we can help you buy that dream home!

Some Highlights:

  • Interest Rates are still below historic numbers.
  • 88% of property managers raised their rent in the last 12 months!
  • Credit score requirements to be approved for a mortgage continue to fall. The 723 average score is the lowest since Ellie Mae began reporting on scores in August 2011.
  • The average first-time home buyer down payment was 6% in 2015 according toNAR.

Like us on Facebook: The Kimberly Davis Group

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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Quick and easy way to check your home’s current value, not to mention it’s free!

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Quick and easy way to check your home’s current value, not to mention it’s free! Click on the picture for more information.

Like us on Facebook: The Kimberly Davis Group

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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