Texas: Navigating Climate Shifts: Texas Real Estate in the Face of Change
Navigating The Home Selling Process in Grayson County
Understanding Property Taxes in North Texas
Understanding the Collin County Housing Market
Commercial Real Estate Trends in Fannin County
Discover Fannin County: A Comprehensive Guide to Neighborhoods, Amenities, and Real Estate Trends
PRESS RELEASE
Press Release for Alril 26th, 2024
GDP Details Continue to Signal a Strong Economy as New and Pending Home Sales Rise
Press Release for Alril 12th, 2024
Hot Inflation Data Likely to Delay Rate Cuts, Put Upward Pressure on Mortgage Rates
Press Release for May 10th, 2024
ISM Services Index Slumps as Credit Conditions Tighten
Press Release for April 19, 2024
Home Sales and Starts Pull Back in March, While Economic Data Continue to Support Near-Term Growth
Press Release for May 13th, 2024
Acting President Sam Valverde’s Statement to Financial Security Oversight Council
Press Release for May 3rd, 2024
Employment Growth Slows as Labor Market Normalizes after Hot Q1
Press Release for May 21st, 2024
Higher Rate Environment Projected to Dampen Housing Activity Through 2024
Navigating The Home Selling Process in Grayson County
Selling a home in Grayson County can feel daunting, especially in an area like Grayson County. Still, with the right guidance and preparation, it can be a smooth and rewarding experience. This comprehensive guide will walk you through each step of the home selling process, from preparing your home for the market to closing the deal, ensuring you’re equipped with the knowledge and strategies needed to achieve a successful sale.
PREPARING YOUR HOME FOR SALE REPAIRS AND MAINTENANCE
INSPECT YOUR HOME:
Begin with a comprehensive inspection to identify any necessary repairs. This includes checking for leaky faucets, cracked tiles, faulty wiring, and any structural issues. Addressing these problems beforehand can prevent them from becoming deal-breakers for potential buyers.
ENHANCE CURB APPEAL:
First impressions are crucial. Ensure your lawn is well-maintained, trim bushes, and plant flowers to add a touch of color. Consider painting the front door and making sure the exterior of the house is clean and inviting.
UPGRADE KEY AREAS:
Focus on high-impact areas like the kitchen and bathrooms, which are often decision-makers for buyers. Simple updates, such as replacing outdated cabinet hardware, installing new light fixtures, or applying a fresh coat of paint, can significantly enhance your home’s appeal and value.
STAGING
DECLUTTER:
Remove personal items such as family photos, knick-knacks, and excess furniture. This helps potential buyers envision themselves living in the space and makes the home feel more spacious and inviting.
NEUTRAL DECOR:
Use neutral colors for walls and decor to appeal to a broader range of buyers. Neutral tones create a blank canvas that allows buyers to imagine their own style in the home.
PROFESSIONAL STAGING:
Consider hiring a professional stager who can highlight your home’s best features and create an attractive environment for potential buyers. Professional staging can often lead to quicker sales and higher offers.
PRICING YOUR HOME
MARKET ANALYSIS:
Conduct a comparative market analysis (CMA) to understand the value of similar homes in your area. This involves looking at recent sales data, current listings, and market trends.
COMPETITIVE PRICING:
Price your home competitively based on the
findings from the CMA. Overpricing can lead to your home sitting on the market too long while underpricing can result in lost potential profit.
FLEXIBLE STRATEGY:
Be prepared to adjust your price if your home doesn’t generate the expected interest within the first few weeks. Market conditions can change, and flexibility can help attract buyers.
Marketing Strategies and Working with a Real Estate Agent
CREATING A MARKETING PLAN
HIGH-QUALITY PHOTOS:
Invest in professional photography to showcase your home’s best features. High-quality images can attract more online interest and encourage potential buyers to schedule viewings.
VIRTUAL TOURS:
Offer virtual tours to give potential buyers a detailed view of your home online. This is especially important for out-of-town buyers or those preferring to view homes remotely.
ONLINE LISTINGS:
Ensure your home is listed on major real estate websites, such as Zillow, Realtor.com, and the MLS. Use social media platforms to reach a broader audience. Effective online marketing can significantly increase visibility and attract more buyers.
WORKING WITH A REAL ESTATE AGENT
CHOOSING THE RIGHT AGENT:
Select an experienced local agent with a strong track record in your area. Look for someone who understands the Grayson County market and has excellent communication skills.
AGENT RESPONSIBILITIES:
Your agent will handle marketing, showings, and negotiations. They can provide valuable advice on pricing, improvements, and staging. An experienced agent can also navigate the legal
and procedural aspects of the sale.
COMMUNICATION:
Maintain open communication with your agent to stay updated on the selling process and feedback from showings. Regular updates can help you understand market responses and make informed decisions.
NEGOTIATING OFFERS AND CLOSING THE DEAL RECEIVING OFFERS
EVALUATE OFFERS:
Consider all aspects of an offer, including the price, contingencies (such as financing or inspection conditions), and the buyer’s financial situation. Assess how these factors align with your goals and timeline.
COUNTEROFFERS:
Be prepared to make counteroffers to negotiate better terms. This might involve adjusting the price, closing date, or addressing requested repairs.
NAVIGATING THE CLOSING PROCESS
HOME INSPECTION:
Once an offer is accepted, the buyer will likely conduct a home inspection. Be ready to address any issues that arise, either by making repairs or negotiating a credit to the buyer.
APPRAISAL:
The buyer’s lender will require an appraisal to ensure the home’s value supports the loan amount. Be prepared for the possibility that the appraisal may come in lower than expected and have a plan to address it.
CLOSING COSTS:
Be aware of the closing costs you’ll be responsible for, such as agent commissions, transfer taxes, and title insurance. These costs can affect your net proceeds from the sale.
FINAL WALKTHROUGH:
The buyer will perform a final walkthrough before closing to ensure the property is in the agreedupon condition. Make sure all agreed-upon repairs have been completed and the home is clean and ready for the new owners.
By following this detailed guide, you’ll be wellprepared to navigate the complexities of selling your home in Grayson County, making the process less stressful and more rewarding. From thorough preparation and strategic marketing to effective negotiation and closing, each step is designed to help you achieve the best possible outcome. You can confidently move forward and successfully sell your home with the right approach.
If you’re ready to sell your home in Grayson County and want expert guidance every step of the way, reach out to Sharon Bartlettt today. With extensive local market knowledge and a commitment to personalized service, Sharon can help you navigate the home selling process with confidence and ease. Contact her at sharon@sharonbartlett.com or visit her website at sharonbartletthomes.com. You can also call her directly at 214-914-9272 to get started on achieving a successful and rewarding home sale.
PRESS RELEASE
GDP DETAILS CONTINUE TO SIGNAL A STRONG ECONOMY AS NEW AND PENDING HOME SALES RISE
Key Takeaways:
Gross domestic product (GDP), adjusted for inflation, increased at a 1.6 percent seasonally adjusted annualized rate (SAAR) in Q1 2024, a deceleration from the 3.4 percent annualized growth rate in the prior quarter, according to the Bureau of Economic Analysis (BEA). While real personal consumption expenditures (PCE) remained strong at a SAAR of 2.5 percent and business fixed investment rose at a robust 4.4 percent annualized growth rate, the headline GDP number was dragged down by the volatile net exports and inventory investment categories. Real final sales to private domestic purchasers, which is the sum of private consumption and investment and is sometimes referred to as core GDP, increased at a solid 3.1 percent annualized rate. We also note that residential fixed investment surged at a 13.9 percent annualized rate as commissions increased from stronger home sales figures and single-family construction remained robust.
Personal income, adjusted for inflation, increased 0.2 percent in March, according to the BEA. Real disposable personal income was also up 0.2 percent. Real personal consumption outpaced income gains, rising 0.5 percent over the month. This pushed the saving rate down four-tenths to 3.2 percent, the lowest since October 2022. The PCE price index rose 0.3 percent over the month and 2.7 percent over the year. Core PCE prices also rose 0.3 percent in March and were up 2.8 percent compared to a year ago.
The National Association of REALTORS® Pending Home Sales Index, which records contract signings of existing homes and typically leads closed sales by one to two months, increased 3.4 percent to 78.2 in March, its highest level in a year.
New single-family home sales rose 8.8 percent to a SAAR of 693,000 in March, the fastest sales rate since September, according to the Census Bureau. However, the February figure was revised downward sharply. The months’ supply declined five-tenths to 8.3 as the faster sales pace offset the 2.6 percent rise in new homes available for sale.
Forecast Impact:
Real GDP was below consensus and our expectations, but the miss was primarily due to the volatile net exports and inventory investment categories that are less indicative of the underlying growth trend. Real PCE was in line with our forecast and both residential and business fixed investment were somewhat higher than we had expected. Socalled “core GDP” grew at a solid 3.1 percent annualized rate, which we believe is more indicative of the actual strength of the economy in Q1. We continue to believe growth is likely to slow this year as consumers return to a more typical saving rate and both businesses and consumers respond to a higher-for-longer interest rate environment.
PCE inflation was above both consensus and our expectations. Core services excluding housing, a closely watched measure of wage pressures, rose at an annualized rate of 4.8 percent. While we continue to see some easing in core price inflation this year in line with our forecast for a generally slowing economy and weaker labor demand, incoming data supports our forecast for a higher-for-longer monetary policy stance.
The rise in pending home sales presents a bit of upside risk to our near-term existing home sales forecast. Still, pending sales recorded in March occurred before rates jumped back above 7 percent, so we continue to expect a small pullback in existing sales in Q2 as the higher rates weigh on demand. On the new sales side, after revisions, the Q1 quarterly sales pace was in line with our forecast. At 8.3, the months’ supply is consistent with ongoing use of incentives, which we believe will help new homes sales rise as the year progresses.
This spacious 4-bedroom, 2.5-bathroom home is not only upgraded but move-in ready. As you enter, you’re greeted by stunning hardwood floors that guide you through the formal dining room, which doubles as a fantastic flex space. These beautiful hardwoods extend throughout most of the home. Be prepared to be impressed by the fabulous kitchen, featuring crisp white-painted cabinets, tumbled marble backsplash, new stainless-steel appliances, an island & separate breakfast bar. The luxurious primary suite is located downstairs & features a beautifully updated spa-like bathroom. Upstairs, you’ll find a huge game room that serves as the perfect hub for the upstairs secondary bedrooms, providing everyone with their own retreat. The upstairs bathroom has also undergone a remodel. Outside, the backyard boasts a sparkling pool surrounded by a concrete patio and a charming extended & covered wood deck, creating the ultimate setting for outdoor enjoyment & relaxation
PROPERTY INFORMATION:
Welcome home! Have a seat and relax on the covered front porch with your favorite book or beverage. This spacious 3 bedroom, 2 bathroom gem offers versatile living spaces. The front living room doubles as a formal dining area or study, perfect for your lifestyle. Enjoy the open concept main living area, seamlessly connecting to the kitchen and dining area. Ample cabinetry, an island, and an eat-on breakfast bar make the kitchen a chef’s delight. Privacy is ensured with split secondary bedrooms from the master suite. Outside, the large backyard beckons for play and entertainment. Schedule your appointment today!
Understanding Property Taxes in North Texas
Understanding property taxes is a critical aspect of homeownership, particularly in North Texas where rates are among the highest in the nation. With Texas relying heavily on property taxes to fund local services due to the absence of a state income tax, homeowners often feel the financial pinch. However, recent legislative changes and local exemptions offer some much-needed relief. This blog will break down the complexities of property taxes in North Texas, highlight their impact on home affordability, and provide practical tips for managing these costs effectively.
OVERVIEW OF PROPERTY TAX RATES IN NORTH TEXAS
PROPERTY TAX RATES AND THEIR SIGNIFICANCE
In Texas, property taxes play a vital role in funding local services since the state lacks an income tax. This reliance results in some of the highest property tax rates in the country. The average effective property tax rate in Texas is approximately 1.60%, significantly higher than the national average of 0.99%. In North Texas, including areas like Grayson, Tarrant, and Collin
counties, rates typically hover around or slightly exceed this state average.
RECENT LEGISLATIVE CHANGES AND THEIR IMPACT
HOMESTEAD EXEMPTION INCREASE:
In 2023, Texas enacted historic tax cuts, including raising the homestead exemption from $40,000 to $100,000 for school district taxes. This means the first $100,000 of a home’s value is exempt from these taxes, providing substantial savings
PROPOSITION 4:
Approved by voters in November 2023, this measure introduced an $18 billion tax-cut package aimed at compressing school district tax rates by providing state funds to replace local revenues. This initiative is expected to lower tax rates by about 10.7 cents per $100 of property value, offering immediate financial relief to homeowners.
LOCAL VARIATIONS AND ADDITIONAL EXEMPTIONS
In North Texas, property tax exemptions vary by county, with Collin, Fannin, and Grayson counties offering several ways to reduce the tax burden.
HOMESTEAD EXEMPTION:
Homeowners can reduce the taxable value of their primary residence by up to 20% or a minimum of $5,000.
OVER 65 EXEMPTION:
Seniors receive an additional $40,000 exemption on school taxes, with some cities offering even higher amounts.
DISABLED PERSON EXEMPTION:
Similar to the senior exemption, this significantly reduces taxable property value for homeowners with disabilities.
VETERANS AND AGRICULTURAL EXEMPTIONS:
Disabled veterans and agricultural landowners
benefit from special exemptions that further reduce their taxable property value.
HOW TAXES IMPACT HOME AFFORDABILITY
High property taxes can significantly impact home affordability. For potential homeowners, understanding the local tax rates and available exemptions is crucial for budgeting and financial planning. High property taxes can increase the overall cost of homeownership, making it challenging to afford a home, especially for firsttime buyers or those on fixed incomes.
However, recent legislative changes and local exemptions provide substantial relief, making homeownership more attainable. By reducing the taxable value of properties and lowering tax rates, these measures help mitigate the financial impact on homeowners.
TIPS FOR MANAGING PROPERTY TAXES
MAXIMIZE EXEMPTIONS:
Homeowners should ensure they apply for all available exemptions through their county appraisal district. This includes homestead exemptions, senior and disabled exemptions, and any applicable exemptions for veterans or agricultural landowners. Staying informed about deadlines and required documentation is crucial.
STAY INFORMED:
Continuous monitoring of local tax policies and exemptions is essential. Local governments and the state may introduce new measures or adjust existing ones, providing further relief.
BUDGET FOR TAXES:
Incorporate property taxes into your annual budget. Understanding your tax obligations and planning accordingly can prevent financial strain.
APPEAL PROPERTY VALUATIONS:
If you believe your property’s assessed value is too high, consider appealing the valuation with your local appraisal district. This can potentially lower your property tax bill.
SEEK PROFESSIONAL ADVICE:
Consulting with a real estate professional or a tax advisor can provide valuable insights and help navigate the complexities of property taxes.
CONCLUSION
Understanding property taxes in North Texas is essential for homeowners and prospective buyers alike. While the region’s property taxes are among the highest in the nation, recent legislative changes and local exemptions offer significant relief. By maximizing available exemptions, staying informed, and budgeting effectively, homeowners can manage their property taxes and enjoy the benefits of homeownership without undue financial stress.
Property taxes might seem overwhelming, but with the right knowledge and strategies, you can take control of your financial future and make informed decisions about your home. Stay proactive, seek advice, and take advantage of all available resources to minimize your tax burden and maximize your savings.
Ready to take control of your property taxes and make homeownership more affordable? Contact Sharon Bartlettt today for personalized advice and expert guidance. Whether you’re a first-time buyer or a seasoned homeowner, Sharon can help you navigate the complexities of property taxes and maximize your savings. Reach out via email at sharon@sharonbartlett.com, visit her website at sharonbartletthomes.com, or call 214-914-9272 to start your journey toward smarter homeownership in North Texas.
New boost
PRESS RELEASE
HOT INFLATION DATA LIKELY TO DELAY RATE CUTS, PUT UPWARD PRESSURE ON MORTGAGE RATES
Key Takeaways:
The Consumer Price Index (CPI) rose 0.4 percent in March for the second consecutive month, bringing the year-over-year comparison to 3.5 percent, an acceleration of threetenths compared to February, according to the Bureau of Labor Statistics (BLS). Energy prices rose 1.1 percent after a 2.3 percent gain the month prior, while food prices rose a muted 0.1 percent over the month. Excluding food and energy, core CPI increased 0.4 percent for the third consecutive month, leaving the annual rate unchanged at 3.8 percent. Core goods prices declined over the month but were offset by large monthover-month increases in shelter (0.4 percent), medical care services (0.6 percent), and motor vehicle insurance (2.6 percent).
The Producer Price Index (PPI) increased 0.2 percent in March, pushing the yearover-year comparison up five-tenths to 2.1 percent, according to the BLS. Excluding food, energy, and trade services, core PPI rose 0.2 percent on the month, the smallest increase since November. Compared to a year ago, the core PPI was up 2.8 percent.
The National Federation of Independent Business (NFIB) Small Business Optimism Index declined 0.9 points to 88.5 in March, its lowest level since 2012. The net percentage of businesses planning to increase employment declined 1 percentage point to 11, the lowest level since the onset of the pandemic. Negative 18 percent of firms expect real sales to be higher, a decline of 8 percentage points. The net share of businesses raising average selling prices jumped 7 points to 28 percent, the highest level since October. A plurality of firms (25 percent) reported inflation as their single most important problem, an increase of 2 percentage points.
The minutes from the Federal Open Market Committee (FOMC) March 19-20 meeting showed that “almost all participants judged that it would be appropriate to move policy to a less restrictive stance at some point this year if the economy evolved broadly as expected.” Further, the minutes stated that slowing the pace of quantitative tightening (QT) should happen “fairly soon.” The planned structure, according to the minutes, would leave the agency MBS cap of $35 billion per month unchanged while reducing the current $60 billion cap on Treasury securities. Actual MBS runoff has averaged less than
half of the set cap since QT began in mid-2022.
Forecast Impact:
The gains in headline and core CPI were above both consensus and our expectations. The CPI has now had three consecutive readings that have come in above market expectations, suggesting that some price pressures beyond lagged shelter costs still remain. This is further supported by a sharp jump in the number of small businesses reporting price increases in March. As such, we will likely be revising upward our inflation expectations for the year. Still, the PPI came in somewhat below market expectations and suggests that the core PCE price index, which is the Fed’s preferred inflation measure, will be considerably softer than the core CPI. While that’s supportive of eventual rate cuts this year, we now see a June rate cut as increasingly unlikely given the strength in the labor market and generally hot inflation readings. The recent rise in the 10-year Treasury resulting from both the jobs report last week and the CPI report this week will also likely put upward pressure on mortgage rates above our current forecast.
Discover serene country living on a 12-acre ranchette near Lake Fork. Tucked at the end of a long driveway, this home features custom finishes in a tranquil setting. Enter thru grand double doors into the bright interior with vaulted ceilings, setting the stage for a luxurious living experience. Featuring an open floorplan, the heart of this home is the stunning kitchen with a massive island, farmhouse sink, granite countertops, & elegant white cabinets. Wood & brass accents add tasteful flair, while a spacious walk-in pantry with custom shelving & an imported Belgian sink adds functionality. The vaulted primary bedroom is a retreat with a spa-like bathroom & an oversized walk-in closet with built-in drawers, custom shelving, recessed lights, & a vanity table.
PROPERTY INFORMATION:
Welcome to your new home! Nestled in a tranquil neighborhood, this 4-bedroom, 2.5-bathroom residence offers a perfect blend of comfort & style. As you enter, you’ll be greeted by a spacious formal living & dining area, ideal for hosting gatherings or enjoying quiet evenings with loved ones. The heart of the home lies in the wellappointed kitchen & family room located at the rear of the home. Whether you’re cozying up by the fireplace on chilly nights or enjoying the company of friends, this versatile area offers endless possibilities. The primary suite is conveniently situated downstairs. Upstairs, you’ll find 3 additional bedrooms, along with a well-appointed bathroom. The expansive backyard beckons with endless possibilities & awaits your personal touch. Conveniently located near schools, parks, and shopping, this home offers the perfect balance of tranquility and convenience
PROPERTY INFORMATION:
Welcome to your new home! Nestled in a tranquil neighborhood, this 4-bedroom, 2.5-bathroom residence offers a perfect blend of comfort & style. As you enter, you’ll be greeted by a spacious formal living & dining area, ideal for hosting gatherings or enjoying quiet evenings with loved ones. The heart of the home lies in the wellappointed kitchen & family room located at the rear of the home. Whether you’re cozying up by the fireplace on chilly nights or enjoying the company of friends, this versatile area offers endless possibilities. The primary suite is conveniently situated downstairs. Upstairs, you’ll find 3 additional bedrooms, along with a well-appointed bathroom. The expansive backyard beckons with endless possibilities & awaits your personal touch. Conveniently located near schools, parks, and shopping, this home offers the perfect balance of tranquility and convenience
Understanding the Collin County Housing Market
Collin County, nestled in the vibrant Dallas-Fort Worth metropolitan area, is a hotbed of real estate activity in 2024. With rising home prices, expanding inventory, and changing buyer behaviors, it’s more important than ever to grasp the nuances of this dynamic market. Whether you’re a firsttime homebuyer, a seasoned investor, or simply curious about the local real estate scene, this comprehensive guide will provide you with the insights you need to make informed decisions in Collin County.
MARKET OVERVIEW
As of April 2024, the median home list price in Collin County stands at approximately $539,279. This represents a 2.7% increase from the previous year, indicating a steady rise in home values. The median price per square foot is around $220, providing a benchmark for evaluating property values. Interestingly, homes are selling for about 3.13% below the asking price, suggesting a slight buyer’s market. This scenario can be beneficial for potential homeowners who may find opportunities to
negotiate better deals as sellers adjust their expectations.
INVENTORY AND SALES
The inventory of homes for sale has seen a notable rise, with a 29.6% increase compared to last year, bringing the total to 5,564 homes. This surge in inventory offers buyers a wider selection of properties. Despite the increase in available homes, sales activity has slowed, with homes staying on the market for an average of 55 days. Several factors contribute to this trend, including higher mortgage rates and economic uncertainties that make buyers more cautious. This longer market duration can benefit buyers by providing them with more time to consider their options and negotiate favorable terms.
POPULAR AREAS AND RECENT SALES
Collin County comprises 24 cities, with Plano, McKinney, and Frisco standing out as particularly desirable areas for homebuyers. These cities are known for their excellent amenities, toprated schools, and high quality of life, attracting both families and professionals. Recent sales illustrate the range and appeal of properties in these areas. For example, a 3,436 sq ft home in McKinney sold for $849,900, while a 4,534 sq ft home in Celina fetched $1,430,535. These examples highlight the diversity in home sizes and prices, catering to various buyer preferences.
NEW LISTINGS AND MARKET DYNAMICS
In the past month alone, over 1,750 new homes were listed, significantly expanding the options available to buyers. The range of properties includes everything from affordable single-family homes to luxurious estates. This influx of new listings is a positive sign for the market, offering buyers a broader selection and potentially stimulating sales activity. For sellers, it indicates a competitive market where pricing and property presentation become critical to attract buyers.
SCHOOL RATINGS AND AMENITIES
One of the significant draws of Collin County is its top-rated schools. Families are particularly attracted to areas with schools like Cynthia A. Cockrell Elementary, Lovejoy High School, and Robert L. Puster Elementary, all of which boast high ratings. The availability of excellent educational institutions contributes significantly to the county’s appeal. In addition to schools, the county offers a range of amenities, including parks, recreational facilities, shopping centers, and dining options. These amenities enhance the quality of life for residents, making Collin County a desirable place to live.
REAL ESTATE INVESTMENT POTENTIAL
With rising property values and increasing inventory, Collin County presents numerous opportunities for real estate investment. The continuous development and population growth in the area suggest a robust market with potential for appreciation. Investors might find significant opportunities in areas experiencing new developments and enhancements. These areas cater to the growing population and demand for quality housing, making them attractive for long-term investments. Additionally, the rental market in Collin County remains strong, providing investors with opportunities for steady rental income.
TIPS FOR NAVIGATING A COMPETITIVE MARKET
Navigating the competitive Collin County housing market requires strategic planning and informed decision-making. Here are some tips to help you succeed:
GET PRE-APPROVED FOR A MORTGAGE:
Before you start house hunting, get pre-approved for a mortgage. This not only gives you a clear budget but also shows sellers that you are a serious buyer.
WORK WITH A LOCAL REAL ESTATE AGENT:
A knowledgeable local agent can provide valuable insights into the market, help you find the best properties, and assist with negotiations.
BE READY TO ACT QUICKLY:
In a competitive market, desirable properties can get snapped up quickly. Be prepared to make swift decisions and submit offers promptly. Consider Your Must-Haves and Nice-to-Haves: Make a list of your must-have features and those that are nice-to-have. This will help you prioritize your needs and make quicker decisions when viewing properties.
BE FLEXIBLE WITH YOUR SEARCH CRITERIA:
Expanding your search criteria can open up more options. Consider different neighborhoods, property types, and sizes to increase your chances of finding the right home.
CONDUCT THOROUGH INSPECTIONS:
Even in a competitive market, don’t skip the home inspection. It’s essential to identify any potential issues that could affect the property’s value or your budget.
STAY INFORMED ABOUT MARKET TRENDS:
Keep an eye on market trends and forecasts. Understanding the direction of the market can help you make informed decisions about when to buy or sell.
CONCLUSION
As we move through 2024, the Collin County housing market continues to evolve, offering a mix of opportunities and challenges. Whether you are a prospective homebuyer or a savvy investor, staying informed about current trends and market dynamics is crucial. The combination of top-rated schools, excellent amenities, and robust investment potential makes Collin County a prime destination. By applying the strategies and insights discussed in this guide, you’ll be better equipped to navigate this competitive and ever-changing market.
Are you ready to explore the opportunities in the Collin County housing market? Contact Sharon Bartlettt for expert guidance and personalized assistance. Whether you’re buying your first home, investing in property, or selling, Sharon is here to help you every step of the way. Reach out today at sharon@sharonbartlett.com or visit sharonbartletthomes.com. Call 214-914-9272 to get started on your real estate journey with a trusted professional by your side.
PRESS RELEASE
ACTING PRESIDENT SAM VALVERDE’S STATEMENT TO FINANCIAL SECURITY OVERSIGHT COUNCIL
Published Date: 5/13/2024
WASHINGTON, D.C.—On Friday, May 10, 2024, Government National Mortgage Association (Ginnie Mae) Acting President Sam Valverde provided the following statement to the Financial Security Oversight Council (FSOC):
Thank you, Madame Secretary, for the opportunity for Ginnie Mae to join the Council in this important work. Since the 2008 financial crisis, there has been a significant shift in the mortgage market away from traditional depository banks to nonbanks, or independent mortgage banks (IMBs). This shift is particularly pronounced in Government mortgage lending programs and Ginnie Mae’s mortgage-backed securities (MBS) program.
While the growth of IMBs in the mortgage market introduced unique challenges, it has also expanded the reach of these programs. IMBs have met borrowers where they are, adopting new technologies and practices to better serve them, and have helped millions of Americans achieve homeownership. Their story of growth has also been the story of Ginnie Mae’s growth, and our Issuers have helped advance our mission to expand access to affordable credit and housing to historically underserved communities, including low- to moderate-income borrowers, seniors, veterans, and rural and Tribal communities.
These federal programs were originally designed with depository institutions in mind. Independent mortgage banks lack the diverse funding sources that regulated banks enjoy. Their unique focus on housing finance has driven significant consumer benefits, but it also drives unique liquidity challenges in the housing market precisely when liquidity is most needed—to support loss mitigation and orderly servicing transfers during a downturn.
We at Ginnie Mae have been raising this source of concern for over a decade. We have spent just as long deploying our existing authorities to develop a suite of risk
management and oversight tools to manage these risks, but we need new authorities to address these issues in a holistic manner. This is why it is so important that we have a public conversation about these risks.
This report represents months of work and introduces a number of recommendations for how state and federal agencies can strengthen the housing finance system and address these persisting challenges.
We look forward to our continued work with the Council on these pressing matters and stand ready to provide technical assistance on any related legislative approaches. I am confident that, working across the public sector, we can drive meaningful change in a way that supports sustainable access to credit while protecting the financial system and consumers from harm.
HOME SALES AND STARTS PULL BACK IN MARCH, WHILE ECONOMIC DATA CONTINUE TO SUPPORT NEAR-TERM GROWTH
Key Takeaways:
Retail sales and food services rose 0.7 percent in March and were upwardly revised in both January and February, according to the Census Bureau. The headline figure benefited a bit from a 2.1 percent price-related increase in gas station sales, though sales at general merchandise stores rose 1.1 percent and nonstore retail, representing primarily online sales, jumped 2.7 percent. Control group retail sales (excluding auto, building supplies, and gas station sales) increased 1.1 percent and were revised upward by three-tenths in February.
Industrial production, a gauge of output in the manufacturing, utility, and mining sectors, increased 0.4 percent to 102.7 in March, according to the Federal Reserve Board. Manufacturing activity rose 0.5 percent following an upwardly revised 1.2 percent gain the month prior, bringing the index to its highest level in 11 months. Mining output declined 1.4 percent, while utilities output increased 2.1 percent.
Existing home sales declined 4.3 percent to a seasonally adjusted annualized rate (SAAR) of 4.19 million in March, reversing roughly half of the surprise jump in February,
according to the National Association of REALTORS® (NAR). The number of homes available on the market rose 4.7 percent to 1.11 million, pushing the months’ supply up three-tenths to 3.2. The NAR’s measure of the median sales price of existing homes sold rose 4.8 percent compared to a year earlier.
Housing starts declined 14.7 percent to a SAAR of 1.32 million in March, the lowest level since August 2023, according to the Census Bureau. Single-family starts dropped 12.4 percent to a SAAR of 1.02 million, almost entirely reversing the 14.6 percent jump in the month prior, while multifamily starts were down 21.7 percent to a SAAR of 299,000, the lowest level since 2017, excluding the pandemic months. Single-family permits declined 5.7 percent to a SAAR of 973,000, ending a 13-month streak of increases. Multifamily permits were down 1.2 percent to a SAAR of 485,000. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index was flat at 51 in April. The index for single-family sales in the present moved up 1 point to 57, while the index for sales in the next six months declined 2 points to 60. The index for foot traffic of prospective buyers rose 1 point to 35.
Forecast Impact:
The strong gain in control group retail sales in March, as well as upward revisions to prior months, presents some upside risk to our Q1 and Q2 consumption forecast. While we continue to believe the current pace of consumption relative to income growth is unsustainable in the long run, wealth effects from recent stock market and home price gains may be able to continue to propel consumption growth in the near term. The industrial production report, which saw a second consecutive monthly gain in the highly cyclical manufacturing sector, is also supportive of relatively strong nearterm growth.
The pullback in existing home sales brought the quarterly figure in line with our expectations. It also confirmed our suspicion that the jump in February home sales was due to seasonal quirks and did not represent a sustainable rise in sales activity. Our current home sales forecast faces some downside risk from the recent runup in interest rates, but we continue to expect a gradual increase in sales activity as new listings continue to rise. The drop in single-family starts also brought the quarterly figure in line with our expectations. We expect some modest slowing in single-family construction next quarter because new starts have outpaced new sales in recent months. The first decline in single-family permits in more than a year is supportive of that forecast. Additionally, we continue to expect that multifamily construction will slow this year, in line with a further decline in permits.
Your search ends here! Welcome to your dream home. This 3 bedroom, 2.5 bathroom gem features an office downstairs, perfect for those work-from-home days or easily convertible to a 4th bedroom. The kitchen features granite counters, gas cooking and a breakfast bar island, and is open to the eat-in-kitchen area and living room. The living room fireplace insert is perfectly situated on a floor to ceiling accent wall of wood and brass. The primary suite is the perfect oasis to escape to at the end of the day and features another floor to ceiling accent wall and ensuite bathroom with oversized shower. Upstairs, the bonus area offers versatility for a playroom, media space, or whatever suits your lifestyle, along with 2 bedrooms and a bathroom. You’ll love the modern light fixtures illuminating every room throughout the house. Step outside to the fantastic extended covered patio, ideal for entertaining family and friends.
Charming 3 bed, 2 bath home nestled in a no-HOA neighborhood offers a canvas for your dream home! TLC needed, but recent upgrades include a new garage door, hot water heater, and refrigerator. Spacious living areas provide a versatile layout, with a cozy fireplace for chilly nights. The kitchen awaits your personal touch, while the bedrooms offer ample space. The backyard is a nice size and is ready for its transformation. Conveniently located near shops and restaurants, this home is an opportunity to customize and make your own. Don’t miss out on this diamond in the rough!
PROPERTY INFORMATION:
Step inside to discover a fresh and inviting interior with brandnew interior paint that provides a modern and neutral backdrop for your furnishings. The open floorplan creates a seamless flow between the living, dining, and kitchen areas, perfect for entertaining or simply enjoying quality family time. Now, the canvas is yours to customize. Bring your own ideas and style to make this home uniquely yours. The possibilities are endless, and with the foundation repairs and recent upgrades, you can focus on the fun aspects of transforming this space into your ideal sanctuary. Conveniently located in the Hallmark community, this home is within reach of nearby amenities and schools. Don’t miss the opportunity to make this home your own. Schedule a showing today and envision the endless potential that awaits in your new home!
PROPERTY INFORMATION:
PROPERTY INFORMATION:
Located in Tara Farms, this one-story home is within walking distance of Joe K. Bryant Elementary. No HOA. This home is well maintained and features a kitchen that is open to the family room. Owners’ suite located at the back of the home with a view of the backyard, large walk in closet. Buyer and buyer’s agent to verify all information.
PROPERTY INFORMATION:
Located in the highly sought out Richardson Heights neighborhood, across the street from Dover Elementary school. This home has 3 bedrooms and 1.5 bathrooms and a large backyard. Conveniently located close to US 75 – Central Expressway, dining, entertainment, and shopping. Also, just minutes from Cottonwood Park and all its amenities, including a playground, walking trails, tennis & volleyball courts and swimming pool. Home features hard surface flooring throughout, is ready to be occupied or updated to your preferences. PROPERTY INFORMATION:
Texas: Navigating Climate Shifts: Texas Real Estate in the Face of Change
Texas, long associated with majesty and tenacity, is facing a strong adversary: climate change. In this huge state, where the real estate market is as diverse as its landscapes, comprehending the impact of climate change is critical. From the Gulf Coast to the parched plains, stakeholders must understand the long-term implications in order to navigate the changing real estate landscape prudently. This blog digs into the various implications of climate change on Texas real estate, providing valuable insights for making informed decisions in this dynamic environment.
Coastal Conundrum: Texas’ wide coastline combines beauty and vulnerability. Rising sea levels, a symptom of climate change, endanger this treasured landscape, threatening coastal residences and infrastructure. As erosion worsens, buyers and investors must do comprehensive risk assessments. Flood insurance costs and storm surge risk must be carefully balanced against the attractiveness of beachfront living. Prudent planning and adaptation are critical to protecting coastal assets in the face of rising sea levels.
Inland Infernos: Texas’s inland areas suffer from their own climate-related hardships, such as crippling droughts and sweltering heatwaves,
PHOTOS FROM 123RF
away from the coast. As temperatures rise, properties with reliable access to water become valuable commodities. Furthermore, energyefficient elements emerge as selling benefits, providing relief from high utility expenditures during hot summers. Developers, too, must adapt by implementing sustainable measures to battle heat and protect valuable water supplies. In the heart of Texas, resilience is not an option; it is a need.
Fortifying Foundations: Real estate must be fortified against the effects of climate change as it intensifies. Texas’s sustainable development requires the adoption of resilience and adaptation methods. Green infrastructure, ranging from rain gardens to resilient building materials, provides options for stormwater management and extreme weather resilience. Prioritizing resilience allows homeowners and investors to strengthen their homes against climatic uncertainties, establishing long-term communities that are resilient to nature’s whims.
Real estate regulatory frameworks have a big impact on addressing climate change. Texas, aware of its vulnerabilities, has launched efforts such as the Coastal Resiliency Master Plan to strengthen coastal communities against climate hazards. Meanwhile, shifting building rules and zoning restrictions indicate a shift toward climate-resilient standards, influencing the course of property development. Staying on top of regulatory developments is critical for guaranteeing alignment with changing market realities.
Climate change is altering Texas’ real estate environment, bringing equal parts difficulties and possibilities. Stakeholders may confidently negotiate the shifting terrain by understanding the long-term consequences on coastal vulnerability, heat and drought resistance, fortification methods, and regulatory environments. Embracing sustainability and prioritizing resilience are not just goals; they are necessary for developing a vibrant and adaptive real estate market in the face of climate uncertainty. In Texas, as elsewhere, enduring the storm requires planning and
resilience.
Navigate the evolving Texas real estate landscape with Sharon Bartlettt, your expert in resilient and sustainable property solutions. As climate change reshapes our environment, making informed decisions is more crucial than ever. Contact Sharon at 214-914-9272 or visit sharonbartletthomes.com to discover how you can invest wisely and secure properties that thrive in the face of climatic challenges. Trust Sharon to guide you through the complexities of today’s market with insight and foresight.
PROPERTY INFORMATION:
Whether you’re searching for an investment or simply dream of owning a recently renovated home, don’t miss out on exploring all that this remarkable duplex has to offer! Each unit offers two bedrooms and one bathroom, providing ample space for comfortable living. With their thoughtfully designed layouts and abundance of natural light pouring through large windows, these units offer both functionality and aesthetics. For those seeking convenience and security, each unit also comes with its own one-car garage. Great for protecting your vehicle from the elements, it also provides additional storage space.
PROPERTY INFORMATION:
Experience the ultimate residential playground in the vibrant Waterview neighborhood packed with a ton of amenities including golf course, water park, tennis courts, multiple fishing spots, swimming pool, etc. This spacious light & bright 4BR home features NO carpet, LED lighting, updated lighting & plumbing fixtures, wrought iron stair railings, cathedral ceilings, & arches. The kitchen is equipped with a gas cooktop, built in oven & microwave, beautiful quartz countertops & black stainless Samsung appliances. Located downstairs, the primary suite includes a large primary bathroom with ample closet space, dual vanities & separate bathtub & shower. An office is also located downstairs, across from a full bathroom. buyer should perform their due diligence & make their own assessments. PROPERTY
PROPERTY INFORMATION:
Welcome to your dream home! This functional 3-bedroom, 2-bathroom residence is a perfect blend of modern style & comfort. As you enter, you’ll be greeted by the seamless flow of hard surface flooring throughout the entire home—no carpet in sight. Equipped with stainless steel appliances, this kitchen is a practical space for all your cooking endeavors. Step outside into your own private oasis—a large backyard awaits, complete with a covered patio. This outdoor space is perfect for hosting barbecues, enjoying morning coffee, or simply basking in the beauty of your surroundings. The covered patio provides a sheltered retreat, allowing you to enjoy the outdoors in any weather. Don’t miss the opportunity to make this house your home—schedule a viewing today & experience the luxury & comfort that awaits you.
PROPERTY INFORMATION:
PROPERTY INFORMATION:
Welcome to a cozy and practical 2-bedroom, 2.5 bathroom condo, covering a comfortable 1, 300 square feet in a secure gated community. As you enter, you’ll find a welcoming living space that’s perfect for everyday living. Both bedrooms suites are located on the 2nd level and feature their own full bathroom. Step outside onto the modest balcony, a nice spot to relax or enjoy a cup of coffee. Residents have access to basic amenities like a community pool, and wellmaintained common areas. Situated close to essential services, shopping, and entertainment options, this condo offers a convenient lifestyle without unnecessary extravagance. Covered parking spot #253 is assigned to this uni
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PRESS RELEASE
ISM SERVICES INDEX SLUMPS AS CREDIT CONDITIONS TIGHTEN
May 10, 2024
Key Takeaways:
The Institute for Supply Management (ISM) Services Index declined 2 points to 49.4 in April, its first time below the expansionary threshold of 50 since December 2022. Most major indices were down as the business activity index declined 6.5 points to 50.9, the new orders index dropped 2.2 points to 52.2, and the employment index fell 2.6 points to 45.9. Indices indicative of supply chain and other inflationary pressures were up, with the prices paid index increasing 5.8 points to 59.2 (though this followed a 5.2-point decline the month prior) and the non-seasonally adjusted supplier deliveries index rising 3.1 points to 48.5.
Consumer (non-mortgage) credit outstanding increased by $6.3 billion in March, according to the Federal Reserve Board. Revolving credit (largely credit cards) was up a modest $15 million, the smallest gain since outright contracting in April 2021, while nonrevolving credit outstanding (largely student and auto loans) increased by $6.1 billion.
The Federal Reserve Board Senior Loan Officer Opinion Survey (SLOOS), for the three months ending in April, showed that 4.1 percent of loan officers reported tightening mortgage loan standards on net, the smallest share in six quarters. Net mortgage demand remained weak with negative 19.9 percent of loan officers reporting stronger demand on net, the eleventh consecutive negative reading. The net share of loan officers reporting tightening standards for commercial and industrial lending, which typically leads measures of business credit in those categories, moved up slightly after declining steadily since mid-2023.
Forecast Impact:
The fall in the ISM services index into contractionary territory would be consistent with a sharp slowdown in services spending in the second quarter. However, both the ISM manufacturing and services surveys have been more pessimistic than hard measures of activity in recent quarters. As such, while we continue to expect a slowdown in consumption growth toward the second half of 2024, our near-term outlook for consumption remains fairly robust.
Consistent with this view, March’s virtually flat reading in revolving credit outstanding may be an early sign that consumers are becoming less able to finance future consumption with credit. While the ratio of revolving credit outstanding to disposable personal income remains below its pre-COVID level, higher interest rates are likely putting some consumers under stress: Personal interest payments on all nonmortgage debt as a percentage of total personal outlays has been at its highest level since 2008 over the past three quarters. Combined with renewed signs that banks are keeping lending standards relatively tight for both businesses and consumers in the latest SLOOS, we continue to expect the higher interest rate environment will work to slow growth in the second half of 2024.
Source
Commercial Real Estate Trends in Fannin County
The commercial real estate market in Fannin County, Texas, is brimming with opportunities for investors and businesses. This region, strategically located in North Texas, has shown remarkable growth and potential. In this blog, we will explore the current market landscape, key trends, and future growth predictions. Additionally, we’ll provide valuable tips for corporate buyers looking to invest in this promising area.
MARKET OVERVIEW
Fannin County offers a variety of commercial properties, including land, retail, industrial, and office spaces. The market is active with
numerous listings for both sale and lease, indicating its burgeoning economic potential. Key areas near major highways, such as US Highway 82 and State Highway 121, are particularly attractive for new developments. The county’s strategic location, combined with a favorable business climate and supportive local policies, makes it an ideal destination for commercial real estate investment.
KEY TRENDS
1. LAND DEVELOPMENT
AVAILABILITY:
There is a substantial availability of commercial land, especially near major highways. These
PHOTOS
areas are prime for new developments like retail centers, industrial parks, and mixed-use projects. The ongoing infrastructure improvements and the expansion of utility services further enhance the attractiveness of these parcels.
POTENTIAL PROJECTS:
The availability of land near US Highway 82 and State Highway 121 opens up opportunities for significant commercial projects that can drive economic growth. Potential developments include large retail complexes, logistics hubs, and technology parks, which can cater to the diverse needs of businesses looking to expand in this region.
2. INDUSTRIAL AND FLEX SPACES
DEMAND:
The industrial sector is robust, with various properties available for sale and lease. The demand is driven by the county’s strategic location, favorable for logistics, manufacturing, and distribution operations. The presence of major transportation networks and proximity to key markets enhances the appeal of industrial properties in Fannin County.
GROWTH:
The industrial sector’s long-term prospects remain positive, with expected annual rent growth of 5-6%. The continuous influx of businesses looking for strategic locations for their operations ensures sustained demand for industrial and flex spaces.
3. RETAIL AND OFFICE SPACES
ACTIVITY:
The retail sector, particularly in Bonham, the county seat, is very active. Various properties are available for sale and lease, catering to the growing needs of local businesses. The vibrant retail scene includes a mix of local businesses, national chains, and specialty stores, providing a diverse shopping experience for residents and visitors alike.
DEMAND:
Office spaces are also in demand, reflecting
the increasing number of local businesses and professional services requiring such spaces. The growth of the service sector, coupled with the influx of new enterprises, has led to a steady increase in demand for quality office spaces.
MARKET TRENDS FOR 2024
1.
INTEREST RATES AND CAPITAL
Uncertainty: The future of interest rates is uncertain, affecting commercial real estate investment decisions. Investors are focusing on optimizing cash flow to seize opportunities as they arise. The current economic climate, characterized by fluctuating interest rates and evolving financial policies, requires investors to stay vigilant and adaptable.
2. INDUSTRIAL SECTOR
Resilience: While the industrial sector remains strong, there are signs of softening. However, long-term prospects are positive, especially for warehouse and distribution properties. The growing e-commerce sector and the need for efficient supply chain management continue to drive demand for industrial spaces.
3.
RETAIL SECTOR
Steady Performance: Neighborhood retail centers continue to perform well, particularly in densely populated urban and suburban areas. The sector is expected to see stable vacancy rates and moderate rent growth. The integration of digital technologies and the rise of Omni channel retail strategies are shaping the future of the retail sector
4. MULTIFAMILY PROPERTIES
Demand: The multifamily sector is strong due to high interest rates pricing out potential homebuyers, thus maintaining demand for rental properties. However, there’s less demand for luxury apartments, leading to rent reductions and concessions. Affordable and mid-range rental units are witnessing higher demand, driven by the growing population and the need for accessible housing options.
OPPORTUNITIES
1. STRATEGIC LOCATION
Advantage: Fannin County’s proximity to major highways makes it an ideal location for businesses involved in logistics and distribution. This strategic advantage is a significant driver for industrial and commercial real estate investments. The easy access to transportation networks facilitates efficient movement of goods and services, enhancing the county’s appeal to logistics companies.
2. DEVELOPMENT POTENTIAL
New Projects: The availability of large land parcels offers significant opportunities for new commercial developments. Potential projects include retail centers, industrial parks, and mixeduse developments that cater to the growing population and business needs. Developers can leverage the region’s growth potential by creating spaces that meet the evolving demands of businesses and residents.
3. ECONOMIC GROWTH
Supportive Environment: The broader economic trends in Texas, such as population growth and a favorable business climate, create a supportive environment for commercial real estate investment. The state’s strong economy ensures sustained demand for various commercial property types. The influx of businesses and residents into the region fuels continuous growth, making Fannin County a hotspot for commercial real estate investments.
4. REGULATORY ENVIRONMENT
Legislative Changes: Recent legislative changes in Texas, such as SB 929 and HB 3697, aim to streamline the development approval process and reduce costs. These changes can encourage new commercial projects and investments. The pro-business policies and regulatory reforms are designed to facilitate easier and more costeffective development processes, attracting more investors to the region.
TIPS FOR CORPORATE BUYERS
CONDUCT THOROUGH MARKET RESEARCH -
Understand the current market conditions and future growth potential. Analyze recent trends and predictions to make informed investment decisions. Detailed market research helps in identifying the best opportunities and mitigating potential risks.
FOCUS ON STRATEGIC LOCATIONS -
Invest in properties near major highways and in areas with significant development potential. These locations are likely to offer better returns on investment. Strategic locations enhance the accessibility and visibility of commercial properties, making them more attractive to tenants and buyers.
CONSIDER LONG-TERM PROSPECTS -
Evaluate the long-term prospects of different property types. For example, industrial and warehouse properties may offer stable returns due to consistent demand. Long-term planning and foresight are crucial in ensuring sustainable investment growth.
STAY INFORMED ABOUT REGULATORY CHANGES -
Keep abreast of legislative changes that could impact your investments. Understanding the regulatory environment can help you navigate potential challenges and seize new opportunities. Staying updated with policy changes ensures compliance and leverages new incentives and benefits.
OPTIMIZE CASH FLOW -
With interest rate uncertainties, focus on optimizing cash flow to ensure your investments remain profitable. This may involve negotiating favorable lease terms or managing expenses effectively. Effective cash flow management helps in maintaining financial stability and resilience in a dynamic market environment.
CONCLUSION
Fannin County’s commercial real estate market presents a wealth of opportunities for savvy investors. With its strategic location, diverse property offerings, and supportive economic and regulatory environment, this region is poised for continued growth. By staying informed about market trends and making strategic investment decisions, corporate buyers can capitalize on the potential that Fannin County has to offer. The dynamic landscape, coupled with robust economic fundamentals, makes Fannin County a promising destination for commercial real estate investments.
Are you ready to explore the incredible commercial real estate opportunities in Fannin County? I’m Sharon Bartlettt, and I’m here to help you navigate this promising market. Whether you’re an investor or a business looking to expand, my expertise and local knowledge can guide you to the perfect property. Let’s work together to seize these opportunities! Reach out to me directly at 214-914-9272, email me at sharon@sharonbartlett.com, or visit my website at sharonbartletthomes.com. I look forward to helping you achieve your real estate goals in Fannin County!
PROPERTY INFORMATION:
Welcome to this spacious 5-bedroom, 3-bathroom home with incredible potential! This diamond in the rough is a fixer-upper enthusiast’s dream, awaiting your personal touch and creativity. The open floor plan invites endless possibilities, while the generous bedrooms provide ample space for family and guests. Imagine transforming the backyard into your private oasis. Conveniently located near schools, parks, and amenities, this property is priced to sell. Bring your vision and turn this canvas into your dream home. TLC required, but the possibilities are endless. Don’t miss out on this opportunity
PROPERTY INFORMATION:
PRESS RELEASE
HIGHER RATE ENVIRONMENT PROJECTED TO DAMPEN HOUSING ACTIVITY THROUGH 2024
May 21, 2024
WASHINGTON, DC – Housing activity is expected to slow modestly compared to previous projections, if the broad upward movement in mortgage rates since the start of the year is sustained, according to the May 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. However, the ESR Group notes upside risk to its latest forecasts for housing starts, single-family mortgage originations, and home sales activity, particularly if upcoming data releases lead market participants to believe that the Federal Reserve is closer to easing monetary policy, which would likely push mortgage rates downward.
The ESR Group forecasts overall economic growth to slow and mortgage rates to end the year near 7 percent. As a result, they expect a slight slowdown in housing activity through 2024 compared to their previous forecast. However, with active home sale listings now up approximately 30 percent compared to a year ago, the ESR Group believes sizable declines in home sales are unlikely and continues to forecast a modest upward drift in existing home sales over the forecast horizon, particularly compared to the historically low sales levels of the previous two years.
The ESR Group’s full-year 2024 real GDP outlook is unchanged at 1.8 percent, as underlying growth in the first quarter remained solid but still appears on track to slow as the year progresses. Household income growth has not kept pace with strong consumer spending and personal outlays on debt interest remain high, suggesting to the ESR Group that the higher interest rate environment will eventually weigh on future consumption. Combined with potential softening in payroll employment growth, the ESR Group expects inflation to decelerate through 2024 but remain sticky enough in the near term to prevent a Federal Reserve rate hike until September.
“The question our economics team is asked most frequently by industry participants remains where we think mortgage rates are headed,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “For now, we see rates remaining closer to 7 percent through the end of the year – before trending downward in 2025 – but note potential downside to that forecast given recent actual movements in rates. Our consumer survey suggests that households who are paying attention to the housing market continue to take a wait-and-see approach. This is consistent with our latest housing forecast, which does not foresee a dramatic change in activity until affordability improves. Given ongoing supply constraints and recent indications that the labor market may be weakening, a downward movement in mortgage rates appears to be the likeliest lever to achieve an improvement in affordability.”
decline the month prior) to a SAAR of 329,000. Single-family permits fell 0.8 percent to a SAAR of 976,000, their third consecutive monthly decline, while multifamily permits declined 7.4 percent.
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index declined 6 points to 45 in May, its lowest level since January. The index for sales in the present declined 6 points to 51, while the index for sales over the next six months was down 9 points to 51. The index for the foot traffic of prospective buyers declined 4 points to 30.
Forecast Impact:
The April CPI report was in line with our expectations and is encouraging compared to the data received in the first quarter, though it’s clear that some underlying inflation remains sticky. Core services, for example, remained at a pace that is faster than what would be consistent with the Fed’s 2 percent inflation target but did slow to a 0.4 percent month-over-month gain from 0.5 percent in February and March and 0.7 percent in January. Additionally, the PPI report on its face looked to show accelerating inflationary pressures but under the hood was far more encouraging given the downward revisions to March’s data. We continue to expect inflation will drift downward as the year progresses but will remain sticky enough to prevent rate cuts before September.
Control group retail sales, which feed directly into the Bureau of Economic Analysis’s estimates for personal consumption, were weak in April. However, with Easter landing in March this year instead of April, and major spring sales also shifting forward a month, we think seasonal quirks may be understating this data somewhat. Still, this report presents some downside risk to our assumption that consumption growth will remain strong in Q2 due in part to better base effects from the first quarter.
The modest pullback in single-family starts was in line with our forecast. While the limited number of existing homes available for sale remains broadly supportive of new home construction and sales in the intermediate to long term, starts have outpaced new home sales in recent months. As such, we expect some near-term softening in starts in response to the relatively weaker sales pace, which would also align with the drop in home builder confidence in May.
Check out this stunning 4-bedroom, 3.5-bathroom home with a 3-car garage! It’s got everything you could want - from an amazing outdoor area to a game room and media room. Inside, you’ll find beautiful built-ins, gorgeous iron balusters, and a mix of carpet, tile, and wood flooring that adds a touch of luxury. The kitchen is a dream with granite countertops, top-notch cabinetry, and stainless-steel appliances. Right off the kitchen is a butlers pantry to ease in entertaining. The family room is in the heart of the home and features a double stacked mantle! With the primary bedroom and study downstairs and three spacious bedrooms upstairs, there’s plenty of room for everyone. Trust me, you won’t want to miss out on this beauty - so bring your qualified buyers!
PROPERTY INFORMATION:
This home offers a fantastic opportunity for customization and personalization. This home features 3 bedrooms, 2 full bathrooms and a 2-car garage. The generous living areas boast a flexible layout, complemented by a welcoming fireplace for cozy evenings. Separate formal living and dining areas are located in the front of the home. The kitchen awaits your creative touch, while the kitchen dining area overlooks the backyard koi pond. The backyard presents ample space for transformation to suit your desires. Conveniently located near the lake, shops and eateries. Seize the chance to make this diamond in the rough your own
Discover Fannin County: A Comprehensive Guide to Neighborhoods, Amenities, and Real Estate Trends
Fannin County, Georgia, offers a unique blend of small-town charm, scenic beauty, and vibrant community life, making it an attractive destination for homebuyers and investors. Each neighborhood within the county has its own distinct character, amenities, and lifestyle, providing diverse options for potential residents. In this blog, we will spotlight five standout neighborhoods in Fannin County: Blue Ridge, McCaysville, Morganton, Mineral Bluff, and Epworth. We will explore the amenities, schools, lifestyle offerings, and real estate trends in each area to help you make an informed decision.
1. BLUE RIDGE
Blue Ridge is a picturesque town known for its historic downtown area, which features a variety of boutique shops, art galleries, and gourmet restaurants. The Blue Ridge Scenic Railway is a significant attraction, offering scenic train rides through the North Georgia Mountains. Outdoor enthusiasts will find plenty to do with nearby attractions such as the Chattahoochee National Forest, Lake Blue Ridge, and the Aska Adventure Area, which provide opportunities for hiking, fishing, boating, and camping.
SCHOOLS
Blue Ridge is served by several well-regarded schools, including Blue Ridge Elementary School, Fannin County Middle School, and Fannin County High School. These schools are known for their strong academic programs, dedicated staff, and a wide range of extracurricular activities that cater to students’ diverse interests.
LIFESTYLE
Living in Blue Ridge means enjoying a vibrant community with a blend of small-town charm and modern conveniences. The town hosts numerous events and festivals throughout the year, such as the Blue Ridge Arts in the Park, the Blue Ridge Blues & BBQ Festival, and the annual Christmas Parade. These events foster a strong sense of community and provide plenty of entertainment options for residents.
REAL ESTATE TRENDS
The real estate market in Blue Ridge is diverse, featuring a mix of historic homes, modern constructions, and luxury vacation cabins. Property values have been steadily increasing due to the town’s popularity as a tourist destination and a desirable place to live. Whether you’re looking for a permanent residence or a vacation home, Blue Ridge offers a variety of options to suit different preferences and budgets.
2. BONHAM
Bonham, the county seat of Fannin County, is a hub of activity and convenience. The town is home to numerous parks, including Powder Creek Park, which offers walking trails, playgrounds, and picnic areas. The Bonham State Park, just a short drive away, provides opportunities for fishing, hiking, and camping. The town also has a public library, a community center, and various local shops and restaurants. The Fannin County Museum of History is a notable landmark, offering residents a glimpse into the rich history of the area.
SCHOOLS:
Bonham Independent School District serves the educational needs of the community. The district includes Finley-Oates Elementary School, I.W. Evans Intermediate School, L.H. Rather Junior High School, and Bonham High School. Bonham ISD is known for its dedicated teachers, strong academic programs, and a variety of extracurricular activities. The district places a strong emphasis on student achievement and community involvement.
LIFESTYLE:
Bonham boasts a friendly, small-town atmosphere with a strong sense of community. Local events and festivals, such as the Bonham Heritage Day Festival and the Autumn in Bonham event, bring residents together and create a lively social scene. The town also has several recreational facilities, including golf courses and sports fields,
catering to a variety of interests and age groups.
REAL ESTATE TRENDS:
The real estate market in Bonham is steadily growing. The town offers a range of housing options, from historic homes with character to new developments with modern amenities. The average home price is affordable, making it an attractive option for first-time homebuyers and families. In recent years, there has been an increase in demand for properties in Bonham, leading to a rise in property values. This trend makes Bonham a promising area for real estate investment.
3. LEONARD
Leonard features a variety of amenities that cater to families and individuals alike. The town has several parks, including Leonard City Park, which offers walking trails, playgrounds, and sports facilities. The Leonard Public Library provides residents with access to books, digital resources, and community programs. Leonard is also known for its antique shops, local eateries, and the annual Leonard Picnic, a week-long event that includes parades, carnivals, and community gatherings.
SCHOOLS:
The Leonard Independent School District is highly regarded for its academic excellence and extracurricular activities. The district includes Leonard Elementary School, Leonard Junior High School, and Leonard High School. The schools offer a supportive environment that encourages
student success, with programs in athletics, arts, and academics. The district is also known for its strong community involvement and support.
LIFESTYLE:
Leonard is characterized by its warm, welcoming community. The town hosts several annual events, such as the Leonard Picnic, which is a beloved tradition that brings residents together for food, fun, and fellowship. The community also supports local sports teams, with events and games serving as social gatherings for residents of all ages.
REAL ESTATE TRENDS:
Leonard’s real estate market is competitive, with a range of homes from charming bungalows to larger family homes. The area has seen a steady increase in property values, making it a good investment for homebuyers. New developments are also emerging, providing more options for those looking to move into the area. Despite the rising demand, Leonard remains an affordable option for many buyers.
4. TRENTON
Trenton offers a variety of amenities, including parks, sports facilities, and local dining options. The town’s Trenton Historical Museum is a highlight, showcasing the area’s rich history and offering educational programs for residents. Trenton also features community centers, recreational facilities, and several local businesses that contribute to its small-town charm.
SCHOOLS:
Trenton Independent School District provides quality education with a focus on academic and extracurricular excellence. The district includes Trenton Elementary School, Trenton Middle School, and Trenton High School. The schools are known for their dedicated staff, strong academic programs, and a wide range of extracurricular activities. The district also emphasizes community involvement and support.
LIFESTYLE:
Trenton offers a laid-back lifestyle with a closeknit community feel. Residents enjoy participating in local events and activities, such as the annual Fall Festival, which features crafts, food, and entertainment for all ages. The town also has a variety of recreational opportunities, including sports leagues and community programs.
REAL ESTATE TRENDS:
The real estate market in Trenton is growing, with an increase in new home constructions and modern developments. Property values are on the rise, but the area remains affordable for many homebuyers looking for a small-town atmosphere with the benefits of a close community. Trenton’s real estate market offers a mix of historic homes and new builds, catering to diverse preferences and budgets.
5. ECTOR
AMENITIES:
Ector may be small, but it offers a range of essential amenities that enhance the quality of life for its residents. The town boasts several well-maintained parks, including Ector City Park and Trident, which feature playgrounds, picnic areas, and walking trails, providing a great space for family outings and outdoor activities. Ector also has a community center that serves as a gathering spot for local events, social activities, and recreational programs. For dining and shopping, residents have access to a selection of local eateries and shops, offering a cozy and convenient shopping experience. The Ector Public Library provides educational resources and community programs, making it a valuable asset for residents of all ages. Additionally, the
town’s proximity to larger cities like Bonham ensures that residents can easily access more extensive amenities and services when needed.
SCHOOLS:
Ector Independent School District serves the area, providing a solid educational foundation for students. The district includes Ector Elementary School and Ector High School. The schools are praised for their personalized approach, strong academic programs, and supportive community. The district also offers a variety of extracurricular activities, including sports, music, and academic clubs.
LIFESTYLE:
Ector is known for its quiet, rural lifestyle. The community is tight-knit, with residents often coming together for local events and celebrations. The town’s annual Ector Homecoming event is a highlight, fostering community spirit and togetherness. Residents also enjoy the natural beauty of the area, with opportunities for outdoor activities such as hiking and fishing.
REAL ESTATE TRENDS:
Ector’s real estate market offers a mix of historic homes and newer constructions. The market is stable, with affordable housing options that attract a diverse range of buyers, from young professionals to retirees. The town’s peaceful atmosphere and strong sense of community make it an appealing option for those looking to escape the hustle and bustle of larger cities.
CONCLUSION
Fannin County, Texas, is a region rich in history, community, and opportunity. Each neighborhood in this county offers something unique, making it a desirable place to live for various lifestyles and preferences. Whether you’re drawn to the charming streets of Bonham, the historic appeal of Honey Grove, the friendly environment of Leonard, the growing potential of Trenton, or the tranquil setting of Ector, there’s a place for you in Fannin County.
These neighborhood spotlights provide a
glimpse into what makes each area special, from amenities and schools to lifestyle and real estate trends. If you’re considering a move to Fannin County, these neighborhoods offer a range of options that can meet your needs and enhance your quality of life. Explore these communities and discover why Fannin County is a great place to call home.
Are you ready to discover your dream home in one of Fannin County’s charming neighborhoods? Contact Sharon Bartlettt today to learn more about the unique amenities, excellent schools, and vibrant lifestyles each community has to offer. Whether you’re interested in Bonham, Honey Grove, Leonard, Trenton, or Ector, Sharon can guide you through the real estate trends and opportunities in each area. Reach out at sharon@sharonbartlett.com, visit sharonbartletthomes.com, or call 214-914-9272 to start your journey to homeownership in Fannin County!
New boost
SINGLE FAMILY HOME
PROPERTY INFORMATION:
Welcome to this stunning 5-bedroom, 3.5-bathroom home in McKinney. Built in 2007, this home offers a blend of comfort, style, & functionality. Step inside to discover a move-in ready home with fresh paint & new carpeting throughout. The main level welcomes you with a spacious den, perfect for a home office or study. Entertain guests in the large dining area, then retreat to the inviting family room, bathed in natural light, overlooking the tranquil backyard. The primary suite on the main floor offers a peaceful sanctuary with views of the wooded area behind the home. Upstairs, discover 4 additional bedrooms, 2 full bathrooms & a versatile multipurpose room, ready to be transformed into a game room, second family room, or whatever suits your lifestyle best. Outside, enjoy the privacy & serenity of the wooded backdrop, creating a peaceful retreat for relaxation & outdoor gatherings. Situated in a desirable neighborhood, within close proximity to schools, parks, shopping, & dining.
PRESS RELEASE
EMPLOYMENT GROWTH SLOWS AS LABOR MARKET NORMALIZES AFTER HOT Q1
May 3, 2024
Key Takeaways:
The Federal Open Market Committee (FOMC) held the federal funds rate at its current target range of 5.25-5.5 percent at its April 30-May 1 meeting. The committee announced that beginning in June, the Fed will slow the pace of decline of its securities holdings by reducing the cap on Treasury securities from $60 billion to $25 billion. The MBS cap of $35 billion was unchanged, though the actual runoff has been closer to $15 billion per month. Both the prepared statement and Chair Powell noted a “lack of further progress” toward the 2-percent inflation objective in the first quarter
Nonfarm payroll employment increased by 175,000 in April, a slowdown from the upwardly revised 315,000 jobs added in March. Job gains were strongest in health care, social assistance, and transportation and warehousing. The unemployment rate ticked up one-tenth to 3.9 percent. Wage growth looks to have normalized, with a 0.2 percent gain over the month, bringing the year-over-year comparison to 3.9 percent.
The Job Openings and Labor Turnover Survey (JOLTS) declined by 325,000 to 8.5 million in March, the lowest level in three years but still above the 2019 average of 7.5 million, according to the Bureau of Labor Statistics (BLS). The quits rate declined one-tenth to 2.1 percent, the lowest level since January 2018, excluding the initial 1pandemic shock. Layoffs and discharges eased to 1.5 million after hitting 1.7 million the month prior.
Nonfarm business productivity increased at a 0.3 percent annualized rate in Q1 2024, a sharp slowdown from the 3.5 percent annualized growth rate the quarter prior, according to the BLS. Still, compared to a year ago, productivity was up 2.9 percent, the best year-over-year comparison since in three years. Unit labor costs rose at an annualized rate of 4.7 percent but, compared to a year ago, slowed to just a 1.8 percent gain.
The Employment Cost Index (ECI), a measure of labor compensation, increased 1.2 percent in Q1 2024, an acceleration of three-tenths compared to the prior quarter. Compared to a year ago, the ECI was up 4.2 percent, unchanged from the fourth quarter.
The Institute for Supply Management (ISM) Manufacturing Index slipped back into contractionary territory with a 1.1-point decline to 49.2 in April. Both the new orders and production indices were down, falling 2.3 points to 49.1 and 3.3 points to 51.3, respectively. The not-seasonally adjusted prices paid index rose 5.1 points to 60.9, its highest level since June 2022, likely reflecting higher oil prices.
The Conference Board Consumer Confidence Index dropped 6.1 points to 97.0 in April, its lowest level since July 2022. Confidence in the present situation declined 3.9 points to 142.9, while expectations for the future were down 7.6 points to 66.4.
Light vehicle sales increased 2.8 percent to a seasonally adjusted annualized rate (SAAR) of 16.0 million in April, the best sales pace since December, according to Autodata. The FHFA Purchase-Only House Price Index increased a seasonally adjusted 1.2 percent in February, the largest monthly increase since April 2022. Compard to a year ago, home prices were up 7.0 percent, an acceleration of six-tenths compared to January and the fastest annual growth rate since November 2022.
Forecast Impact:
Employment growth was in line with our Q2 expectations. With wages increasing at a rate that would be consistent with 2-percent inflation if sustained, we view this report as a sign that the labor market is normalizing. Job growth was strong enough to keep pace with population growth and to continue to spur consumption without being so strong that it stokes further inflationary pressures. Looking back to Q1, the ECI came in a bit hotter than expected, consistent with other data showing that inflation picked up a bit to begin 2024. This was offset somewhat by robust productivity growth, though, which pushed unit labor costs down to a level that would be consistent with 2-percent inflation. Productivity is difficult to both measure and forecast, but we view the decline in job openings and another tick down in the quits rate to be consistent with easing wage growth during the year. As such, we continue to expect a gradual, albeit slow, return to 2-percent inflation over time, which is supported by the April jobs report.
From a monetary policy perspective, Chair Powell said that a rate hike was “unlikely” and that the current focus of the committee is on how long to leave the policy rate restrictive. Current market pricing still has between 1 and 2 cuts this year, in line with our current forecast. Other indicators this week, including the ISM manufacturing index and consumer confidence, were also consistent with slowing economic growth in line with our forecast.
Welcome to the beautiful Stonebridge Ranch in McKinney! This home features a versatile layout with 4 bedrooms, 2.5 bathrooms, formal dining & living rooms, a study and a spacious family room. Hardwood floors adorn formals, family room & study. The second-floor game room could also be used as a 5th bedroom. Retreat to the expansive upstairs master suite with a large walk-in closet, dual vanity, garden tub, and separate shower. Ample storage in the 3-car tandem garage. Extended utility room offers space for a second fridge. Outside, youll enjoy the backyard pool with plenty of space for entertaining
PROPERTY INFORMATION:
Nestled in the charming Lakeside at Heath neighborhood, this home boasts 3 bedrooms & 2 bathrooms on the main level, while upstairs features an expansive bedroom & ensuite bathroom. This versatile upper room can serve as a loft, additional living space, game room, secondary master suite, or even a mother-inlaw suite! The main floor presents an inviting open living area, a kitchen equipped with a bar top & island, & a spacious breakfast nook flooded with natural light from numerous windows. With summer almost here, your backyard oasis awaits - enjoy grilling on the covered patio with plenty of space to socialize or play in the backyard. The garage offers added insulation & an internal air conditioning system, ensuring comfort year-round. Retreat to the owner’s suite, complete with additional vents for cooling & a luxurious soaking tub, offering a tranquil escape for your mind, body, & soul. This remarkable home eagerly awaits its new owners to make cherished memories.
