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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

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!

 

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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!!!

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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: 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.”

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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GORGEOUS 1 story in coveted LEGENDS! Vaulted ceilings throughout. Relaxing backyard features pergola and fire pit- great for entertaining! MUST SEE PICS! $254,000 5625 OVERLAND DRIVE THE COLONY, TX

13371033-1 (1)

$254,000 5625 OVERLAND DRIVE THE COLONY, TX

MLS: 13371033   Type: Single Family   County: Denton   City: The Colony   Neighborhood: Legend Crest Ph Ii   Zip: 75056  Style: Traditional   # Rooms: 11    Stories: 1   Taxes: $4,191

BEDS

BATHS

HALF BATHS

SQR FOOTAGE

LOT SIZE

BUILT

3

2

0

1,843

6,098

2000

GORGEOUS 1 story in coveted LEGENDS! Entry opens to large DA and spacious study with beautiful french doors. Kitchen boasts updated granite and stainless steel appliances- skylight provides plenty of light. Kitchen overlooks charming living area and breakfast nook. Master retreat includes granite, garden tub and separate shower. Vaulted ceilings throughout. Relaxing backyard features pergola and fire pit- great for entertaining! MUST SEE PICS!

ELEMENTARY SCHOOL

MIDDLE SCHOOL

HIGH SCHOOL

Morningside
Distance: 0.31 Miles
Griffin
Distance: 0.83 Miles
The Colony
Distance: 1.45 Miles

PRICE HISTORY

5/5/2016 Listed $254,000

Accessory Unit Yn 0
Association Fee Frequency Annual
Association Type Mandatory
Block C
Energy Saving Features Ceiling Fans, Programmable Thermostat
HOA Fee 400
HOA Fee Includes Full Use of Facilities, Management Fees
Handicap Access 0
Listing Area THE COLONY AREA (9)
Lot Number 7
Other Equipment Built-in Microwave, Cooktop – Gas, Dishwasher, Disposal, Plumbed For Gas in Kitchen, Water Line to Refrigerator
Property Type Residential
School District Lewisville ISD
School Name Morningside
Sub Area THE COLONY (2)
Transaction Type For Sale
Type RES-Single Family
Year Built Details Preowned

INTERIOR FEATURES

Fireplace Gas Starter
Fireplaces Total 1
Flooring Carpet, Ceramic Tile
Heating Central Air-Elec, Central Air-Gas
Interior Features Cable TV Available, Decorative Lighting, High Speed Internet Available, Vaulted Ceilings
Number Of Dining Areas 2
Number Of Living Areas 1
Room Count 11
Security System Yn 1
Sq Ft Total 1843

EXTERIOR FEATURES

Community Features Community Pool, Greenbelt, Jogging Path/Bike Path, Park, Playground
Construction Materials Brick
Exterior Covered Porch(es), Gazebo/Pergola, Outdoor Fireplace/Pit, Patio Covered
Fencing Wood
Foundation Details Slab
Garage Depth 20
Garage Width 20
Lot Interior Lot, Landscaped, Some Trees, Subdivision
Lot Area Less Than .5 Acre (not Zero)
Lot Size Area 0.144
Lot Size Area (acres) 0.144
Lot Size Area (sq Ft) 6272
Lot Size Units Acres
Parking Features Attached, Garage, Rear
Parking Spaces Carport 2
Parking Spaces Covered Total 2
Parking Spaces Garage 2
Pool 0
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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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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