Dallas proper posted moderate rent increases, but it was the area suburbs and exburbs that saw the biggest apartment rents in 2018, RentCafe revealed in a recent report.
Flower Mound posted the highest rent at $1,526 (despite only having a minimal increase of 0.1 percent), higher than Farmers Branch and Frisco with average rents of $1,382 and $1,343, respectively. In Coppell, rents have stagnated, decreasing by 1 percent year over year. (more…)
Once again, Frisco makes national Real Estate news, not for being the very best community to live, or the fastest-growing community in the U.S., but for being oversupplied with brand new homes as the real estate market shifts from a seller’s paradise to a buyer’s market, and as new home sales dip nationwide by almost 9 percent:
The shift may be most pronounced in what were once the most sizzling markets. Consider Frisco, Texas, a city 30 miles north of Dallas, where narrowly spaced villas of stone and brick have replaced cow pastures. Its population nearly doubled over the past decade, to 177,000. Its 8 percent jump last year made it the fastest-growing city in America.
Prashant Gopal is an excellent journalist and a friend of our’s from NAREE. He writes in Bloomberg of how falling sales and diving housing stocks are also affecting real estate agents in Frisco, who seem to be taking the biggest hits from each other as they shrink commissions in the “builder battleground”:
On a recent weekday, Konara, the real estate broker, drives his Dodge minivan along Highway 380, a builder battleground, where national giants such as Lennar, Toll Brothers, and PulteGroup go head to head with Texas companies. He stops at sales offices, where balloons festoon posts in a vain effort to spur sales. He points to empty houses that he says were completed six months ago.
His own sales are half what they were in 2016. In many cases, he’s rebating to customers all but $1,000 of his commission on each home sale. He walks into an Indian restaurant for lunch and looks up at the television screen. A competitor, the “Maximum Cash Back Realtor,” says he’ll take only $750. “You know what that means,” Konara says. “I’ll have to do the same.”
Prashant drew attention to the fact that Frisco is also home to the glittering Legacy West, transplant nirvana with Toyota headquarters (which may have subsidized some homes for employees) as well as Dallas Cowboys headquarters, where any day you can see real estate agents dining alongside football players and the Jones family. I believe the agents he is talking to, like Konara, but I also had to check with the man who’s company sells more of Frisco than anyone: J.P. Piccinini:
Full confession — we asked our readers to give us the skinny on some of the best neighborhoods and communities that really embrace the whole trick-or-treat, neighborly fun of Halloween. And one reader not only pointed us to the Christie Ranch and Grayhawk neighborhoods, but then pointed out a great house — a house perfect for our Thursday Three Hundred.
“You can’t get through the streets, so many people,” our inside source told us.
And the house? Get a load of this four-bedroom, three-bath Traditional with 2,853 square feet of living space located at 13073 Broadhurst Dr.
Right from the curb, the stucco home is inviting. Yes, there’s another home going up next door, but that just means more awesome neighbors to trick-or-treat with, right?
Inside, a sweeping staircase leads to the second floor, and great office space with French doors is immediately to your right. Keep going, and you walk right into the common areas, which feature easy-to-care-for concrete flooring. Offices and bedrooms, as well as the upstairs living space, have carpet. (more…)
Dallas-Fort Worth housing inventory is increasing, which could be good news for buyers, and three separate cities placed at the top of two different growth charts. We’ll explain in this week’s roundup of real estate news.
National housing inventory is starting to flatten, Realtor.com’s September housing report revealed, declining only 0.2 percent from a year ago and showing an 8 percent increase in new listings — the largest yearly jump in five years.
“After years of record-breaking inventory declines, September’s almost flat inventory signals a big change in the real estate market,” said Danielle Hale, chief economist for Realtor.com. “Would-be buyers who had been waiting for a bigger selection of homes for sale may finally see more listings materialize. But don’t expect the level to jump dramatically. Plenty of buyers in the market are scooping up homes as soon as they’re listed, which will keep national increases relatively small for the time being.” (more…)
(Photo courtesy VisitFrisco.com)
How did North Texas fare in a ranking of overall best housing markets in the U.S.? How far has the Dallas-Fort Worth apartment market come in recovering after the recession? How much of their income is the average Dallas-Fort Worth homeowner spending on housing? All this and more in this week’s review of real estate news. (more…)
An excellent academic program and exceptional opportunities for students make Frisco ISD highly sought after for families relocating to Texas or moving within DFW.
The district has grown 7 to 30 percent annually since the early 1990s, and today serves more than 58,000 students in 68 schools. They project that number to be 67,528 in 2022.
For this week’s Splurge vs Steal, we’re looking at two houses in Frisco ISD. Which one is your favorite?
Don’t let the quaint exterior of this Frisco home fool you into thinking this is a small house. This DR Horton-built home at 7920 Southmark Drive is long and narrow, but it’s a huge two-story with four bedrooms and three full baths coming in at 2,635 square feet. It’d be a perfect home for a family with kids, perfectly situated at Preston and Rolater in Frisco, the city most recently named the best city in Texas for families.
Frisco was named the best city for raising a family, closely followed by Allen, and Southlake as part of a new 2018 “best Texas cities” list, ranking the best and worst Texas cities for families. Wallethub, a D.C.-based personal finance site, compiled the new June 2018 report that ranked the 117 largest cities in Texas based on family life, fun, education, health and safety, affordability and socioeconomic environment.
What makes a city good for raising a family? Plenty of attractions such as museums and theaters, a quality school system, high graduation rates, number of playgrounds per 100,000 residents and a whole lot of pediatricians were all factors that Wallethub took into account when it named the best Texas cities for families.
While the weighted scores and rankings provide a holistic view of cities, a look at the raw data we requested provides some interesting headlines as well. Missing from the list is Highland Park, which did not rank among the largest cities in Wallethub’s data.
Turning to education, Allen had the number one highest graduation rate in Texas – 96.6 percent, according to Wallethub’s data. Frisco, the overall number one, has a 91.8 percent graduation rate, and Southlake, overall number three on the list, had a 87.3 percent graduation rate, according to Wallethub. (more…)
