Area Real Estate News & Market Trends

You’ll find my blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because I care about the community and want to help you find your place in it. Please reach out if you have any questions at all. I would love to speak with you!

Oct. 29, 2018

Small Town, But Not Small Living, Drives Celina’s Growth

Courtesy of Candy's Dirt Blog:  by 

CelinaIt’s both the town that was country enough to appear in a Kenny Chesney video, but fancy enough to be home to two acclaimed vineyards — and people move to Celina every year for that small town feel with the big city amenities.

Halfway between Dallas and Oklahoma, Celina is a straight shot up State Highway 289, and is also right on the Dallas North Tollway extension. Dallas is 45 minutes away and Denton is 35 minutes away, making it easy to enjoy the country life while still being able to access all the shopping, entertainment and more that the city has to offer as well.

And did we mention Celina’s longtime pastime? Because quite possibly the best entertainment to be had in Texas comes on Friday nights in a small town, and Celina offers up some of the best small-town Friday night football in the state, with eight state championships and 40 playoff appearances under its belt.

So for this week’s Suburb Sunday, we trek to Celina, where depending on where you live, you could be in Celina ISD or Prosper ISD. Three homes, three different price points. Which one is your favorite?

SPACIOUS TRADITIONAL IN LIGHT FARMS

Address624 Stableford St.

There’s a reason the Light Farms community is popular — it plays host to all kinds of events like movie nights and concerts. With four resort-style pools, a state-of-the-art fitness center, tennis and pickleball courts, basketball courts, bocce ball courts, and a sand volleyball court, there’s plenty for an active family to do.

Add in the 132 acres of green space and a central community lawn, and you may have found heaven. And we haven’t even mentioned the fresh, locally-grown produce delivered to the community every Saturday yet.

And this home is practically new, and with its 1,863 square feet it has three bedrooms and two bathrooms, and sits at the end of a cul-de-sac.

“This Highland home has brand-new upgraded carpet throughout and fresh paint inside,” said listing agent Anthea Adair of Ebby Halliday – Allen/Fairview/Lucas.

And the open floor plan allows for great entertaining, with a spacious kitchen that overlooks a family room (complete with fireplace). All three bedrooms are spacious, with a master suite that includes a great en-suite with sophisticated finishes.

The home is listed for $295,000.

MODERN CONTEMPORARY WITH DESIGNER TOUCHES

Address4028 Heatherton Dr.

Our next home is a great example of the varied price points in some of the more popular communities in Celina. This Modern Contemporary was built in 2017, and has four bedrooms, and four full and one-half baths in an open, modern, and airy 3,958 square foot Light Farms home.

And as you’ll see, there is a difference in what another couple hundred thousand will get you in this super popular community. 

This two-story home was built by MainVue Homes, and has a lot of bells and whistles, including dramatic 10-foot main floor ceilings and 9-foot upper-level ceilings, quality wide-plank hardwood flooring, and a butler’s pantry with access to the three-car garage.

In the open, galley-style kitchen, European style cabinets are topped with sleek counters and stainless steel appliances, including a convection oven and gas cooktop. A spacious walk-in pantry is hidden behind an 8-foot timber and frosted glass door.

A spacious master suite features an enhanced dressing room, and a designer free-standing tub in the master bath.

 

Outside, an outdoor room with extra tall sliding glass doors provides more entertaining space.

The home is listed for $546,533, by Ben Caballero of HomesUSA.com.

PALATIAL ESTATE WITH OUTDOOR KITCHEN, POOL

Address: 120 Shawnee Trail

Sitting on two acres not far from Preston Road and FM 455, this six-bedroom, five-and-a-half bath home was built to stun — all 10,465 square feet of it.

On the outside, lush landscaping surrounds the brick-and-stone home with Juliet balconies. 

On the inside, soaring ceilings and gorgeous moldings, custom millwork and three beautiful fireplaces impress.

A large, gourmet chef’s kitchen with a generous island sits ready for entertaining.

Outside, a backyard oasis includes an incredible pool with a tanning ledge, rock waterfall, slide, and spa, as well as a large outdoor kitchen and huge yard.

Upstairs, a romantic master includes a large en-suite, and the game room has a balcony that overlooks the pool. Downstairs includes a media room and a guest suite, as well as a mud room, formal living and dining rooms, and a private study.

And when it’s too cold to swim, a massive exercise room inside can allow for plenty of opportunities to burn off excess energy. 

The home is listed for $1.95 million by Ryan Weidner of ReMax Town & Country.

 

Sept. 20, 2018

Experience True Community Living in Light Farms in Celina!

Meet Light Farms! from Republic Property Group on Vimeo.

Video Credit: The Republic Group/Light Farms Community

 

 

 

Aug. 14, 2018

What Is A Mud?

Aug. 7, 2018

10 Staging Secrets From the Pros for a Quick Home Sale at Top Dollar

Aug. 3, 2018

Next Recession in 2020? What Will Be the Impact?

Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists, investment strategists and market analysts how they felt about the current housing market. That report revealed the possible timing of the next recession:

Experts largely expect the next recession to begin in 2020.”

That timing concurs with a recent survey of economists by the Wall Street Journal:

“The economic expansion that began in mid-2009 and already ranks as the second-longest in American history most likely will end in 2020 as the Federal Reserve raises interest rates to cool off an overheating economy, according to forecasters surveyed.” 

Here is a graph comparing the opinions of those surveyed by both the Wall Street Journal and Pulsenomics:

Next Recession in 2020? What Will Be the Impact? | Simplifying The Market

Recession DOES NOT Equal Housing Crisis 

According to the Merriam-Webster Dictionary, a recession is defined as follows:

“A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.”

A recession means the economy has slowed down markedly. It does not mean we are experiencing another housing crisis. Obviously, the housing crash of 2008 caused the last recession. However, during the previous five recessions home values appreciated.

Next Recession in 2020? What Will Be the Impact? | Simplifying The Market

According to the experts surveyed by Pulsenomics, the top three probable triggers for the next recession are:

  • Monetary policy
  • Trade policy
  • A stock market correction

A housing market correction was ranked ninth in probability. Those same experts also projected that home values would continue to appreciate in 2019, 2020, 2021 and 2022.  

Others agree that housing will not be impacted like it was a decade ago.

Mark Fleming, First American’s Chief Economistexplained:

“If a recession is to occur, it is unlikely to be caused by housing-related activity, and therefore the housing sector should be one of the leading sources to come out of the recession.”

And U.S. News and World Report agreed:

“Fortunately – and hopefully – the history of recessions and current issues that could harm the economy don’t lead many to believe the housing market crash will repeat itself in an upcoming decline.”

Bottom Line

A recession is probably less than two years away. A housing crisis is not.

Aug. 1, 2018

How Long Do Most Families Live in a House?

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving.

As the graph below shows, over the last twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2014, that average is almost ten years – an increase of almost 50%.

How Long Do Most Families Live in a House? | Simplifying The Market

Why the dramatic increase?

The reasons for this change are plentiful!

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move.

With home prices rising dramatically over the last several years, 95.3% of homes with a mortgage are now in a positive equity situationaccording to CoreLogic.

With the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.

One other reason for the increase was brought to light by NAR in their 2018 Home Buyer and Seller Generational Trends ReportAccording to the report,

“Sellers 37 years and younger stayed in their home for six years…”

These homeowners, who are either looking for more space to accommodate their growing families or for better school districts to do the same, are likely to move more often (compared to typical sellers who stayed in their homes for 10 years). The homeownership rate among young families, however, has still not caught up to previous generations, resulting in the jump we have seen in median tenure!

What does this mean for housing?

Many believe that a large portion of homeowners are not in a house that is best for their current family circumstance; they could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple living in a one-bedroom condo planning to start a family.

These homeowners are ready to make a move, and since a lack of housing inventory is still a major challenge in the current housing market, this could be great news.

Posted in Market Updates, Selling
July 26, 2018

4 Reasons Why We Are Not Heading Toward Another Housing Bubble

 

With home prices continuing to appreciate above historic levels, some are concerned that we may be heading for another housing ‘boom & bust.’ It is important to remember, however, that today’s market is quite different than the bubble market of twelve years ago.

Here are four key metrics that will explain why:

  1. Home Prices
  2. Mortgage Standards
  3. Foreclosure Rates
  4. Housing Affordability

1. HOME PRICES

There is no doubt that home prices have reached 2006 levels in many markets across the country. However, after more than a decade, home prices should be much higher based on inflation alone.

Last week, CoreLogic reported that,

“The inflation-adjusted U.S. median sale price in June 2006 was $247,110 (or $199,899 in 2006 dollars), compared with $213,400 in March 2018.” (This is the latest data available.)

2. MORTGAGE STANDARDS

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July 24, 2018

Housing Will Not Fall Victim to Next Economic Storm

 

Some experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could only be eighteen months away. The question is, what impact will a recession have on the housing market?

Here are the opinions of several experts on the subject:

Ivy Zelman in her latest “Z Report”:

“While economic activity appears to have accelerated so far in 2018, some prominent economic forecasters have become more cautious about growth prospects for 2019 and 2020…

All told, while solid long-term demographic underpinnings support our positive fundamental outlook for housing, in the event micro-economic headwinds surface, we would expect housing transaction volumes and home prices to weather the storm.”

Aaron Terrazas, Zillow’s Senior Economist:

“While much remains unknown about the precise path of the U.S. economy in the years ahead, another housing market crisis is unlikely to be a central protagonist in the next nationwide downturn.”

Mark Fleming, First American’s Chief Economist:

“If a recession is to occur, it is unlikely to be caused by housing-related activity, and therefore the housing sector should be one of the leading sources to come out of the recession.”

Mark J. Hulbert, Financial Analyst and Journalist:

“Real estate may be one of your best investments during the next bear market for stocks. And by real estate, I mean your home or other residential properties.”

U.S. News and World Report:

“Fortunately – and hopefully – the history of recessions and current issues that could harm the economy don’t lead many to believe the housing market crash will repeat itself in an upcoming decline.”



July 18, 2018

New Listing UNDER $280K...near Joe Pool Lake!

This new listing in Grand Prairie is located near Joe Pool Lake AND listed under $280,000!   This property surely won't last at this price.  For those unfamiliar with the area of Grand Prairie, check out their visitor page HERE

 

Joe Pool Lake is a large and beautiful lake near this property and has two main access points

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July 17, 2018

NEW Home Valuation Tool Brings More Accurate Data

Use this new improved tool to get a more accurate instant valuation of your home.   This uses 3 estimates together to give you a better idea of the real value.  

Try it in real time here!