Tag Archives: #mortgagerates

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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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

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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

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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.

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Market Watch: Where is Housing Headed for the Rest of 2016?

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With the overall economy just inching along, some experts are questioning whether the housing market can continue its momentum throughout the rest of the year. People are beginning to ask questions such as:

  • Will disappointing economic news adversely impact housing?
  • Is affordability a major concern in today’s real estate market?
  • Are we approaching a new housing bubble?
  • Are mortgage standards too tight? Or have they loosened too much?

Freddie Mac, in their April Economic Outlook, addresses the disappointing economic news and what impact they think it will have on housing:

“Recent data darkened the growth outlook for the first quarter of 2016. However, despite the disappointing economic reports, we still forecast housing to maintain its momentum in 2016.

We’ve revised down our forecast for economic growth to reflect the recent data for the first quarter, but our outlook for the balance of the year remains modestly optimistic for the economy.”

What about real estate?

Freddie Mac was much more optimistic about housing…

“We maintain our positive view on housing. In fact, the declines in long-term interest rates that accompanied much of the recent news should increase mortgage market activity.”

They went on to conclude:

“We expect housing to be an engine of growth. Construction activity will pick up as we enter the spring and summer months, and rising home values will bolster consumers and help support renewed confidence in the remaining months of this year.”

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

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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!!!

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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

Search for Homes in Plano! all under $350,000 with Pool! Click on the link to view the list of available properties! ‪

pool

Search for Homes in Plano! all under $350,000 with Pool! Click on the link to view the list of available properties! ‪

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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