Frisco, Texas is a suburb of Dallas, which is still showing a strong real estate market, but the further buyers get from the city's core and jobs, the more homes there are on the market, despite a large amount of desirable new home building. This presents a wonderful opportunity for buyers, say local Realtors.

"Frisco, Texas has something for everyone!" says Realtor Janet Crisco. "The city offers homes for sale in every price range. Currently, there are over 1,000 homes for sale priced from $75,000 to over $5,000,000. Frisco is the fastest-growing city in Texas and second in the U.S. In 1990, only 6,000 residents called this town home. Frisco now boasts a population approaching 60,000. In the beginning, it was a community centered around the railroad. Now it is home to great shopping, sports facilities, entertainment venues, quality schools, office parks, golf courses and many master-planned communities."

Agrees Realtor Timm Baumann, "Frisco is the fastest growing city in Texas, and you will find that it is a community made up of thousands of volunteers who support the city, schools, churches and community organizations. Frisco has 19 park sites, spanning more than 550 acres. The intersection of Preston Road and State Highway 121 is the southern gateway to the city of Frisco. Frisco is ten minutes north of Legacy Business Park, home of J. C. Penney, Electronic Data Systems, Murata Business Machines, Dr. Pepper and Frito Lay. Both Dallas/Fort Worth and Love Field Airports are within a 45-minute drive, making the trip to either coast only four hours away! With almost 1,750 employees serving the needs of more than 200 students, Frisco ISD is the largest single employer in Frisco. During the past five years, FISD has grown by 22-25 percent annually in student population; this past year enrollment grew by 30 percent, indicating that growth is accelerating."

Baumann suggests, "Although the housing market should remain strong through 2004, a fragile economy and the specter of deflation could threaten its prosperity. Growing deficits from defense spending and anticipated tax cuts that are necessary to stimulate the economy in the short term, pose the biggest threat to the real estate market. As deficits grow, interest rates will eventually rise; however, only a slight increase is expected in the next twelve months, with rates reaching 6.6 percent on a 30-year fixed-rate mortgage in 2004. A surge in corporate profits and recent increases in technology purchases are indicators that businesses are poised to spend. This spending will raise 2003 GDP to 2.3 percent and to 3.8 percent in 2004. Jobs will grow by 2 percent in 2004, although the unemployment rate will only drop to 5.5 percent. Both a recovering economy and strong demographics should keep the housing market afloat both in 2004 and over the long term. More immigrant homeowners and boomers moving into the age groups that traditionally hold the highest homeownership rates should create an additional 11.7 million new households by 2010. With the proper due diligence and professional assistance, the time is always right to invest in real estate."

"Since 6/30/03, there have been 35 closing in the Frisco area," says Realtor Tricia Delgado, "This does not include new construction. We are seeing more new listings on the market, and also more foreclosure properties. There are buyers in the market, however, these buyers are taking longer to make a buying decision. If you are planning on selling your home, this is the time to price the property well and prepare your home for presentation."

Realtor Jerold Smith provides the latest statistics, "378 actives
145 pending
128 sold

Of the sold properties 70% sold in 30 days or less with a 97% of list to sales price, 12% sold in 31-60 days with a 97% of list to sales price.

This is still a buyers market with listings 29% above last year, your home needs to be in great condition and priced correctly for it to sell in this market.

Interest rates are at their lowest in 40 years, great time to make a move!"

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Published: August 5, 2003

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