After working independently for 15 years, broker Brad Holden has decided to join The Associates. He will be based out of the Frisco office in the Dallas Cowboys’ Star Development.

“The reason why I decided to jump on board was because of who The Associates are and how they have Stillwater Capital as a branch of who they are. This allows me a tremendous opportunity on the commercial development side,” Holden said. “They are also the best at promoting high-end luxury properties which is another big focus that I want to jump into.”

He admits that working for a brokerage for the first time will be challenging. However, he also believes that the potential opportunities more than outweigh the lesser things he will be giving up.

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PGA

Frisco Economic Development President Ron Patterson talked all things PGA relocation with a room full of Frisco Realtors at Hollyhock, a Newland community that is adjacent to the PGA site (Photo by Bethany Erickson).

Realtors and Frisco residents packed their questions and their curiosity Wednesday when they attended a breakfast discussion about the PGA Headquarters and what that would mean for the area.

Held at Hollyhock, a Newland community that is adjacent to the PGA site, Frisco Economic Development President Ron Patterson gave a brief history of how Frisco went from a town with no mall and few stoplights to the bustling suburb known now as “Sports City USA.”

“I can remember back when we were trying to get a mall,” Patterson told the standing room only crowd. “There was no toll road, either.”

And from that, city leaders began to plan — deliberately, he said.

“It was intentional, we thought about what is it we can do to set ourselves apart,” he said. “Sports came in to play.”

In those days, city hall was a much smaller building, and that discussion eventually spilled onto a whiteboard — with a baseball diamond drawn on it.

“That was the genesis for the Roughriders coming here,” Patterson said.

Nowadays, the pitch is about Frisco’s ability to put businesses and citizens within a days drive of many major hubs, thanks to its central location. (more…)

Cowboys

Stephen Jones (far right) introduces his father and Dallas Cowboys owner Jerry Jones, who announced a first-of-its-kind luxury high-rise project that would combine the team’s brand with a luxury residential concept. From left to right, Robert Shaw, Charlotte Jones Anderson, Roger Staubach, Jerry Jones, and Stephen Jones (Photo by Bethany Erickson).

Twelve Cowboys Way is no joke, but legendary Dallas Cowboys quarterback Staubach did admit he had pulled an April Fools prank already Monday morning — on his unsuspecting wife.

“I was getting ready to come here today, and I woke up my wife and said, ‘Honey, honey! There’s a bunch of squirrels in the house,’” Staubach said with a fair amount of glee. “She woke up yelling, ‘What? What!’ — so I got my joke in already.”

And while they may have chuckled when asked if they worried an announcement as big as a new residential high-rise concept co-branded with a sports team might be treated with a little skepticism because of the timing — the middle of April Fools Day — Robert Shaw and Roger Staubach are serious about the project.

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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:

JP and Associates

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Christie RanchFull 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…)

inventoryDallas-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.

DALLAS HOUSING INVENTORY INCREASES IN SEPTEMBER

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…)

north texas

(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…)