Frisco, Texas, a suburb of Dallas, is still experiencing a buyer's market, but local Realtors are hopeful the beauty of the area and the attractiveness of its many newer and new homes will keep the market buoyant.

"Frisco is the fastest-growing city in Texas," says Realtor Timm Baumann 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 explains, "Employment figures underscore the fragility of the present recovery, but also illustrate the state of transition occurring in our nation's job market. Weak job creation has been attributed to companies' delayed hiring of additional permanent staff until they gain profitability and other efficiencies, but their continued willingness to hire temporary employees may be a first step towards expanding payrolls for permanent workers. Furthermore, while the manufacturing sector continues to suffer, employment within services and information sectors continue to expand, indicating a fundamental shift towards a highly-skilled and service-oriented economy. Despite continued negative readings for our demand/supply and employment/permit ratios, we expect home-buying activity will remain relatively strong as long as mortgage rates remain relatively low while the economy steadily gains strength. Because the economy still exhibits some signs of weakness and the Fed is expected to maintain their 'accommodative' stance on monetary policy, mortgage rates should remain relatively low through the year-end."

Says Realtor Tricia Delgado, "During the month of November, there were 20 pending listings on the market for an average of 70 days, and an average list price of $231,870. There were nine homes sold on the market for an average of 106 days, and the average sales price of $376,454."

"Frisco is just north of Plano, Texas," explains Realtor Jerold Smith, "and it is experiencing growth like Plano has the past 10 years or so. Frisco is on the cutting edge of suburban/ urban living and home to Frisco Riders (Class AA Baseball). It has fine shopping, schools and superb planning concerning residential and land space providing areas of recreation and enjoyment. Frisco is a model city of the future that will be followed across the nation."

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Published: December 5, 2003

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