Cary-McCoy-Phillips Creek-August 2020

Cary McCoy

6400 W. Plano Parkway #112 Plano, TX 75093

CRS, ABR, GRI

214.621.5491 CaryMcCoy@ebby.com CaryMcCoy.Ebby.com PhillipsCreekLifestyle.com

Phillips Creek Ranch www.PhillipsCreekLifestyle.com

Phillips Creek Ranch Resident and Specialist Trusted • Focused • Connected • Relocation Specialist

Real Estate Market Report | August 2020

See All Recent Phillips Creek Sales at PhillipsCreekLifestyle.com

JUST LISTED IN PHILLIPS CREEK

BY CARY McCOY

LOADED WITH UPGRADES!

YOUR OWN PRIVATE RESORT!

850 Gaited Trail | Offered at $535,000 4 Beds, 3.1 Baths | 3,192 Estimated Square Feet HIGH-END UPGRADES!

7014 Poco Soto Drive | Offered at $750,000 4 Beds, 4.1 Baths | 4,537 Estimated Square Feet

5769 Lightfoot Lane | Offered at $600,000 4 Beds, 4.0 Baths | 3,606 Estimated Square Feet

YOUR HOME COULD BE HERE NEXT MONTH!

Jonathan-Thomas and Angela-Marie,

My marketing is representative of the time, effort, and money you have spent in obtaining and maintaining your home.

If you are looking to sell, let me help you achieve exceptional results. Call me today at 214.621.5491.

Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2020

Prepared Especially for

Jonathan-Thomas and Angela-Marie Washington Presented by Cary McCoy, Your Phillips Creek Real Estate Specialist and Neighbor

Cary McCoy

SOLD

SOLD

SOLD

CRS, ABR, GRI

214.621.5491 CaryMcCoy@ebby.com CaryMcCoy.Ebby.com PhillipsCreekLifestyle.com

Over $350 Million Sold | A Home Sold Every 3 Days My Average SP/LP Ratio is 99.6% Trusted • Focused • Connected • Relocation Specialist

Phillips Creek

Real Estate Market Report

Jonathan-Thomas and Angela-Marie, If you want to know what your home would sell for in today’s market, contact me today at 214.621.5491 for your free report.

Street Name Gaited Trail Lightfoot Lane Chimney Peak Lane Bannerdale Boulevard Bear Lake Road Pitkin Road Lightfoot Lane Horse Creek Drive Bridle Boulevard Bareback Ranch Road Poco Soto Drive Flemington Drive Pitchfork Ranch Drive Stallion Ranch Road Statesman Lane Bareback Ranch Road Bunnels Fork Road Statesman Lane Backstretch Boulevard Coulter Lake Road Holford Drive

Bedrooms 4 5 4 4 4 4 4 5 4 4 4 5 5 5 5 5 5 5 4 5 5

Bathrooms 3.1 4.0 3.1 4.0 4.2 4.0 4.0 4.2 3.1 3.1 4.1 5.2 5.1 5.1 5.2 5.1 5.1 5.1 4.1 4.1 4.2

Living Area* 3,200 3,400 3,200 3,500 3,500 3,900 3,600 4,200 4,000 3,700 4,500 4,600 4,600 4,300 4,600 4,500 4,900 4,500 4,000 4,400 5,200

5993 Lightfoot Lane Offered at $549,900

1023 Rolling Thunder Road Offered at $525,000

4 Beds, 3.1 Baths | 3,123 Est. Square Feet

4 Beds, 3.1 Baths | 3,257 Est. Square Feet

4 Beds, 3.0 Baths | 3,267 Est. Square Feet

COMPARING 2020 TO 2008

ARE THEY DIFFERENT?

Phillips Creek Homes Recently Listed Status Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active Active

5530 Lightfoot Lane Offered at $525,000

List Price $535,000 $539,900 $560,000 $579,000 $584,000 $597,500 $600,000 $674,900 $684,900 $689,990 $750,000 $750,738 $765,000 $767,500 $790,238 $810,000 $845,000 $849,990 $850,000 $850,000 $1,245,000

There are Currently 15 Pending Phillips Creek Homes

COVID-19 has had a large effect on the economy – so much so that you might have heard talks of our country entering another recession. Due to the severity of the 2008 financial crisis and the ensuing recession, the term stirs up a lot of emotions for many, especially when it comes to the real estate market.

Annual Home Price Appreciation

Inventory and Appreciation In the years leading up to the housing market crash, home price appreciation (the increase in value of houses) was out of control. Homes simply became too expensive for buyers to afford, which became a contributing factor to the crash.

The price of homes is still high today, but it’s risen at a more stable level. Inventory is at a low in most markets, causing a surge in demand.

Total Home Equity Cashed Out Then...

Source: Black Knight

11.4%

8.5% 8.7%

8.6% 6.5%

4.4%

5.2% 5.5%

6.4% 4.8% 4.7%

The 6 Years Leading up to The Housing Crash

The Last 6 Years

2000 2001 2002 2003 2004 2005

2014 2015 2016 2017 2018 2019

Use of Home Equity

by Refinance in Billions Source: Freddie Mac

12.5%

Now...

Year

Dollars

Year

Dollars

2005

$263B

2017

$71B

2006

$321B

2018

$87B

2007

$240B

2019

$89B

Total

$824B

Total

$247B

Prior to the housing crisis, many homeowners were using cash-out refinances to supplement their cash flow, meaning they were tapping into their home’s equity as soon as it built up enough rather than letting it grow and build their overall wealth.

This put many homeowners in a negative equity position when the housing bubble burst; they owed more on their home than it was actually worth.

Phillips Creek Homes Sold in the Last 90 Days Homes Sold

Bedrooms

Bathrooms

Living Area

Sold Price

Average DOM

40

3-6

2.1 - 7.0

2,581 - 5,320

$479,000 - $975,000

61

Cary McCoy and Ebby Halliday Realtors are not in any way affiliated with the Phillips Creek Ranch Owners Association, nor is this in any way an official advertisement or publication of Phillips Creek Ranch. © 2020. All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to NTREIS MLS for May 11th, 2020 through August 11th, 2020. Listings and sales may not be those of Ebby Halliday Realtors. NTREIS MLS does not guarantee the accuracy of this data, which may not reflect all of the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Square feet rounded to the nearest hundred.

Jonathan-Thomas and Angela-Marie, Now is a great time to sell your home! Interest rates are still extremely low, and I employ a number of ways to keep the selling process safe. If you’re ready to talk about these unique opportunities, call me today at 214.621.5491.

Source: www.watersongmortgage.com