Bigger and Better

Fields West is going to be similar to Legacy West but even larger. Karahan says it’s like taking Legacy West and adding an extra block to it. He’s the genius who made Legacy West a hit, and now he’s bringing his magic to Frisco. He loves creating places where people can shop, eat, and have fun. And that’s exactly what he plans to do with Fields West. This place will spread over 55 acres and will have two hotels, shops, places to eat, and even a concert space.

A Glimpse into the Future

Fields West is just a small piece of the larger Fields development. The whole area will have homes, a fancy resort, and lakes, making it a mini-city of its own. This place will be bustling with the University of North Texas Frisco campus on one side and the PGA of America on the other.

Frisco’s Mayor, Jeff Cheney, is thrilled about what Fields West will bring. He’s looking forward to big changes, especially with the Universal Kids Resort opening just in time for the World Cup.

A Monumental Project

Fields West is set to break ground later this year, and we can expect to see its doors open in the fall of 2026. It’s not just about adding another shopping center or residential area; it’s about creating a harmonious community where people can live, work, and play.

Simple Terms, Big Dreams

Let’s break it down into simpler terms:

• Fields West is Coming: It’s a new place in Frisco, like a sister to Legacy West in Plano but even bigger.
• Who’s Behind It?: Fehmi Karahan is the same person who created Legacy West. He’s all about making places where people can enjoy shopping, eating, and fun activities.
• What Will Be There?: Imagine a small town with hotels, stores, restaurants, and a theater for concerts, all spread over 55 acres.
• More Than Just Shopping: Fields West is part of a bigger plan that includes homes, a resort, and lakes. It’s going to be a whole new community.
• Why It Matters: This project is a big deal for Frisco. It’s going to bring new life to the area, especially with big attractions like the Universal Kids Resort opening up.
• When’s It Happening?: Groundbreaking is happening this year, and it’s set to open in 2026.

For Everyone in Frisco

Fields West isn’t just for shoppers or people looking for entertainment. It’s for families, workers, and anyone who wants a mix of modern living with leisure and work. It’s going to be a place where you can grab a bite, shop for your favorite brands, and catch a concert all in one spot.

Stay Tuned with Mister Frisco

For those eager to keep up with Fields West and other Frisco updates, following Mister Frisco is the way to go. This development is about bringing the community together and setting the stage for what modern cities can look like.

Fields West is more than just a project; it’s a vision of the future where living, working, and playing blend seamlessly. It’s about creating a space where memories are made, and life is enjoyed to the fullest. So, get ready, Frisco, because Fields West, Legacy West’s bigger sister, is on its way to transform our city into an even more vibrant place to call home.

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Real Estate Income

Secure your future with the help of real estate. Real estate has the potential to create multiple income streams. Rental properties, for example, offer a consistent monthly income. All you have to do at the end of the month is to collect. This is a hassle-free source of passive income.

Investing for the Future

Owning a home is a lifelong dream for many. Having your own property offers security for you and your family. You won’t have to pay a monthly bill to a landlord once you own a home. This is a secure way for you and your family to gain financial freedom. Make your life your own when you invest in real estate.

Stability in Assets

Real estate investments have stable growth. This is a stark contrast compared to stocks and bonds. With proper research, you can identify desirable locations that have the potential to appreciate significantly. You can rent your property out or sell it once it has appreciated in value. In real estate, you can reap twice as much as you’ve sown.

Investing in real estate is a daunting task made easy with the help of Mister Frisco. Secure a better future for you and your loved ones in this industry. Call us now, and we will help you carve a path toward financial growth.

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Ideal Budget

Before you start looking at homes, it’s essential to determine your budget. Considering your current income, savings, and other expenses, determine how much you can afford to spend on a home. You can work with a financial advisor, CPA, and lender to determine the best home loan options. Knowing your budget will help narrow your search and save time on properties out of your price range.

Finding Your Priorities

Everyone has different priorities when it comes to finding their dream home. Some people want a large backyard for their children or pets to play in, while others want a home close to their workplace or local amenities. Make a list of your most essential features, such as the number of bedrooms and bathrooms, the location, the type of neighborhood, and any specific amenities you’re looking for.

Researching Homes

Once you’ve identified your priorities, start doing your research. Look at real estate listings online and attend open houses to understand what’s available in your price range. Pay attention to the size and condition of the homes and any amenities that are important to you. You may also want to research the local schools, crime rates, and other factors impacting your quality of life in the area.

You can never go wrong with having a renowned realtor like Mister Frisco on your side. Let us help you in finding your ideal home. Contact us now and schedule a tour to find your dream home!

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Kitchens

When people move into a new home, one of the first upgrades they typically make is to the kitchen. Installing energy-efficient appliances, updating countertops, and replacing cabinet hardware can create an inviting and comfortable atmosphere for cooking and entertaining family and friends. Doing so can also increase the value of your home and save money in the long run with lower utility bills.

Baths

The next area of focus for upgrades is often the bathrooms. Replacing outdated fixtures and adding new tiles can quickly turn an ordinary bathroom into a luxurious retreat. Installing a low-flow showerhead, toilet, and sink faucet looks great and helps conserve water and reduce water bills.

Interiors & Exteriors

Upgrading the interior and exterior of a home is also very important. Installing new flooring, painting or wallpapering walls, replacing doors, and adding ceiling fans are all great ways to make a house feel like home. On the outside, people often add or replace siding and windows for increased energy efficiency and to improve the look of their home.

Security

Safety and security are also essential considerations when it comes to upgrades. For example, a home security system can provide peace of mind while protecting against burglaries or other intrusions. Installing smoke alarms and carbon monoxide detectors is another way to promote safety in a new home.

Landscaping

Finally, upgrades to the landscaping and lawn often add a great deal of visual appeal to a property. Adding trees, shrubs, flowers, and other plants can make an outdoor area look inviting while increasing privacy and improving air quality. Installing an irrigation system helps maintain healthy grass and plants with minimal effort.

Truly Yours

By strategically upgrading a home’s interior and exterior, people can turn an ordinary house into a comfortable, attractive, and secure place to live. Whether it’s making improvements to the kitchen or bathroom, upgrading flooring or doors, installing safety devices, or landscaping the lawn – these are just some of the first upgrades people typically make when moving into a new home.

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Spruce Up

First, take some time to spruce up the exterior of your home. Plant colorful flowers or repair broken shutters and deck railings that have been neglected over the winter. Doing so will help to create a warm and welcoming atmosphere for your guests before they even step inside.

Fun & Games

Second, plan some fun activities to entertain your guests at your party. Consider setting up a games area with corn hole, ladder golf, or other outdoor games. Social games will keep everyone engaged and having a good time.

Atmosphere

Third, create an inviting atmosphere with decorations and lighting. Add festive banners and hang string lights around your porch or patio for a cheerful ambiance. You can also decorate the inside of your home with potted plants and streamers to give it a lively feel.

Food & Drinks

Fourth, have plenty of snacks and drinks ready to go. Ensure you stock up on food, beverages, and supplies before your guests arrive so you won’t have to make a last-minute run to the store.

Enjoy!

Finally, remember to enjoy yourself! Hosting a party can be stressful, but taking a few moments to relax and be present is important. You’ll want to savor all of the joyous memories being made with your loved ones! Following these tips will help you create a memorable spring party that everyone will enjoy. Happy hosting!

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Listings vs. Median Price Past & Present

Sometimes the best way to appreciate the present is by looking at the past. For example, before the late real estate boom of 2018, in January 2018, active listings were 49,395 with a median price of $212,000. Fast forward to January 2023, and we see active listings at 52,715 with a median price of $275,000. With all the ups and downs over five years, it’s exciting to see median home prices increase by nearly 30%.

Historic Months of Inventory vs. List Median Price

Remember in the previous chart; we showed how six months of inventory is a balanced market, under six months is a seller’s market, and over six months is a buyer’s market? Here we see how, before the boom after 2018 (Jan 2018), it was clearly a seller’s market with five months of inventory available and a median list price of $239,900. Jump ahead to January of 2023, and we see a sustained five months of inventory but a bump in the median list price to $299,00. That’s almost a 25% increase in the median list price over five years. Also, as expected, fewer months of inventory on the market command a higher list median price, as seen in February through May of 2022, where two months of inventory spiked prices into the $350,000 range.

Inventory on the Market vs. Close Median Price

Considering the natural balance between supply and demand, the lower the inventory, the higher the close median price. Consider January 2018, which had five months of inventory and a close median price of $215,000. As inventory declined through July 2018, you can see the close median price increase to $242,000 – a 12.6% increase. However, we don’t see a corresponding decrease to 2018 prices once inventory returns to a 5-months level. Instead, in January 2023, the last time there were five months of inventory available, the close median price was $279,000 – a retained increase of 29.7%. Other price pressures are at work, favoring the seller.

Historic Count of Active Listings vs. Days on the Market

If you’re looking for solace in real estate trends, compare the numbers from Jan 2018 to Jan 2023. In January 2018, there were around 50,000 listings on the market lasting about 35 days. Looking at January 2023, we see active listings approaching 60,000, staying closer to 45 days on the market. So looking at the five years between January 2018 and January 2023, you see an almost inverse relationship between the number of active listings and the number of days on the market. 

It’s clear that with short inventory, the days on the market are much lower in July 2021, with 37,642 homes in inventory spending eight days on the market vs. July 2018, 60,668, 21 days. Of course, the inventory is still shorter, but the market is unique.

Active Listings vs. Close Price To Original Price Ratio

In January 2018, there were 49,395 properties listed for sale, and transactions closed at an average of 97% of the original listing price. Fast forward to January 2022, when there were only 31,029 homes on the market, and transactions closed at 100% of the original listing price. This data suggests buyers are more likely to pay closer to the listing price as inventory becomes more scarce. 

Historic months of Inventory on the Market vs. Closed Median Price

Returning to January 2018, we see historic months of inventory hovering around a little over four-and-a-half months. Here, the corresponding closed median price rested around $275,000. You see a price drop when there’s a sudden gain in inventory. Jump to January 2023, and you will see the reverse happening. As inventory begins to dip from a near peak of just over five-and-a-quarter months of inventory at the end of 2022, prices similarly spike during the same period, finishing January of 2023 at $300,000. Remember, however, that the bump in price is because of the low inventory on the market during 2021-22.

Although factors like interest rates, lifestyle features, and commutability all play a part in a local real estate market, it is still difficult to escape the law of supply and demand. If people want something, they will find a way to get it. However, that doesn’t mean your search for a new home has to be challenging. Contact Mister Frisco, Viktor Taushanov, when you’re ready to find your dream home.

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Good Move

Cutting costs and boosting their Texas presence could help their bottom line, justifying a bold move in the current market. Not only will the move offer easier access to a more resilient market, but it will also reduce costs. In addition, since home is where your heart is, the relocation also allows Landsea to be closer to the market they want to grow in and reiterate their commitment to Texas, according to a recent article.

Solid Growth

2022 was a year of solid growth, with total revenue of over $1.4B, a record for the company. However, the second half of 2022 showed signs of waning demand, prompting a surge of innovation and out the box thinking. Seeing a contagion of caution spreading among potential homebuyers, Landsea CEO John Ho saw that making a bold move was an easy solution. 

Answering Market Volatility with Action

Landsea currently builds in Texas, Arizona, Florida, and California. However, Texas is only 3% of the building portfolio, with most of their lot ownership in Austin and San Antonio. With ongoing renegotiations with vendors, suppliers, and contractors, they will be well poised to continue growing and be prepared for a demand surge.

Although market volatility and demand shifts challenge the national real estate market, Texas remains resilient, specifically in major metropolitan areas and their suburbs. That’s why it’s always a good time to look for your dream home, especially with Viktor Taushanov – Mister Frisco. Landsea likely won’t be the last homebuilder moving to Texas. Take advantage of this market and move into your dream home today!

In response to the uncertain demand, Landsea is proactively negotiating with suppliers, vendors and contractors to make sure the prices the company is paying reflect the new market realities as well as Landsea’s increased size and scale, the CEO said. The company is prepared to walk away from land option agreements if they no longer meet its needs, and the homebuilder has reduced its headcount by about 8%, Ho said.

Landsea currently builds homes and residential communities in Arizona, Florida, Texas and California.

Its new headquarters office will be at 1717 McKinney in Dallas, where Landsea has signed a lease for 7,716 square feet on the building’s 10th floor.

In terms of homebuilding, Landsea’s footprint in Texas is relatively small, making up just 3% of the company’s revenue in 2022. The company currently owns or controls 1,087 lots, mostly in the Austin and San Antonio markets.

California made up 35% the company’s 2022 homebuilding revenue in 2022, Florida made up 33% and Arizona made up 22%.

The company wants to boost its presence in the Lone Star State, but changing the geographical percentages will take time, Ho said.

“Texas will come on toward the end of the year, but generally, it will be around the same split (at year-end),” he said.

Landsea’s full year 2022 results:

• Home sales revenue increased 49% to $1.4 billion
• Total homes delivered increased 45% to 2,370 homes
• Net income of $73.6 million, or $1.70 per diluted share

Landsea’s Q4 2022 financial summary:

• Total revenue was $426 million in Q4 2022, vs. $398.5 million in Q4 2021. 
• New home deliveries were 703 with a dollar value of $417.5 million and an average sales price $594,000 in Q4 2022. This compares to 534 homes with a dollar value of $333.1 million and average sales price $624,000 in Q4 2021. 
• Net new home orders were 88 homes with a dollar value of $57.5 million for an average sales price of $653,000 in Q4 2022. This compares to 440 homes with a dollar value of $313.1 million, an average sales price of $712,000 in Q4 2021.
• The number of selling communities increased to 58 in Q4 2022 vs. 35 in Q4 2021
• Total homes in backlog decreased 33% to 670 homes with a dollar value of $380.9 million and an average sales price of $569,000 in Q4 2022, compared to 998 homes with a dollar value of $586.2 million and an average sales price of $587,000 in Q4 2021.
• Total lots owned and controlled by Landsea increased 33% to 11,593 in Q4 2022, from 8,740 in Q4 2021. Of those lots 54% are controlled and 46% are owned.

https://www.wfaa.com/article/news/local/california-landsea-homes-homebuilder-company-hq-move-to-dallas-will-cut-costs-boost-texas-footprint-ceo-says/287-07eaa52a-2dc0-4ed6-9a80-6ccfe1707020

https://landseahomes.com/

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Homebrew History

Although the brewery is new to Frisco, the concept isn’t. Three Empires Brewing Company will join a handful of local breweries in Frisco. Breweries had been prohibited from the city limits up until 2020. But brewing is new to Wible. Reece records, “We’ve been homebrewing for about 10 years,’ Mandalyn said. ‘[Frisco is] home to us and we’re excited to be part of the downtown community.“

Ford Building

The brewery will set up shop on the corner of Fifth and Main Street. The 1,300 SF brewery will host brewing and fermenting rooms, a tasting area, and plenty of indoor seating. Small as it is, the brewery offers plenty of flavors. Quoting Mandalyn, Reece shares, “Our brewery is pretty small…We only have a one-barrel system.”

Dream Come True

Reece concludes, “Three Empires Brewing Co. has been trying to find footing in Frisco since 2021, Mandalyn Wible said at the Feb. 28 meeting. It almost became a reality in 2022 when it secured a spot in the Main Street Food Hall proposal, but the project’s owner chose to terminate the development before it opened. With the go-ahead for its new Rail District location now secured from city officials, Mandalyn Wible and her husband are planning for the brewery to open this summer. ‘This is our little dream come true,’ Mandalyn said.”

Stay current with all the happenings in Frisco, including crucial real estate trends, when you check the Mister Frisco website. Check out the blogs and videos of his podcasts for your Frisco news. When you’re ready to call Frisco home or need a referral to a home professional in Frisco, Viktor Taushanov, aka Mister Frisco, is your go-to source. 

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Exterior House Prep

Nothing takes a toll on a home’s exterior like winter storms. That’s why now is the right time to brighten the exterior of your home with good washing. Rest assured; garden hose pressure will do. You can skip the power washer for this prep. The same applies to outdoor decks. Wood decks and concrete patios can benefit from a scrub but forget the power washer for sealed decks. After thoroughly drying, now is also a great time to reseal your wood deck. Protect your outdoor plants and shrubs before beginning your exterior house wash.

Outdoor Furniture

Nothing gives guests pause like being asked to sit on dingy outdoor furniture. Keep your patio furniture looking fresh by scrubbing them with mild soap, a soft bristle brush, and water. Remember to check if your outdoor cushions and fabrics can withstand water exposure before washing them. 

Flower & Garden Beds

Nothing accents an outdoor party like a vibrant flower and garden beds. So now is the right time to mulch your beds. Mulching protects them from Texas droughts and dry spells, reducing your outdoor water consumption. Preparing your beds now ensures your summer parties pop with color from your favorite plants.

Breath of Fresh Air

Staying cooped up all winter can make things a little stale. So pick a pleasant day to air out your house. Open all your windows and activate your A/C to keep the air moving indoors. Exchanging the interior air over a few hours breathes new life into your home. Airing out your home is also an excellent time to change your seasonal decor. Replace darker winter colors like bedding, tablecloths, runners, and window treatments for the bright colors of spring and summer. Both seasons are bright and welcoming, and your decor should be, also.

Interior Paint

Of course, nothing brightens the interior of your home like a fresh coat of paint. Examine your walls for areas that need touch-ups and minor repairs. If you are going with a professional painter, hire them to complete the work in the spring to have your interior ready for summer fun.

Everyone loves a good summer party. That’s why now is the perfect time to prepare. If you need help, Viktor Taushanov, Mister Frisco, has access to countless contractors and home professionals to complete everything on your list. Your summer is going to be great!

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Financing

As easy as it is to picture the features you want in your new home, financing is the most important first step. Choosing a lender is where it pays to be picky. Not only can the right lender get you a great rate, but they can make things go smoothly during closing. So skip picking the first online result or randomly walking into your bank. Instead, please seek the advice of friends who have recently gone through the home-buying process or ask an experienced Realtor, like me, about which lenders make closing as hassle-free as possible.

Making Your First Offer

Once you get pre-approval from your lender, you are ready to make an offer. Making an offer is where we start deep-diving into finding your dream home. Here I provide a Comparative Market Analysis so you can choose the home price you’re most comfortable with. Once you accept all the conditions in the offer, I submit the offer to the seller. But making an offer is only the beginning of buying. After I make your offer to the seller, critical negotiations begin. Once your offer is accepted, we proceed with inspections, negotiations for repairs if necessary, and finally, moving to the closing.

Option Period

The options period is a time given to the buyer to inspect the property and negotiate repairs or any other condition on the contract. The terms (time and fee) are negotiable and usually depend on market conditions. Typically, the term is seven to ten days, with an initial offer fee of about $100. In Texas, the buyer has the unrestricted right to terminate the contract during this period with a full refund of the earnest money. The options fee, however, is not refundable if the buyer terminates.

Financing Contingency

The financing contingency is given to the buyer to be approved for a mortgage. During this period, the buyer should submit all additional paperwork required by the lender to obtain conditional approval. Suppose the buyer can not obtain approval in this period. In that case, the financing contingency should be extended, or the buyer has the unrestricted right to terminate the contract and get the earnest money back.

Closing

Both parties should sign the closing documents at the Title Company on closing day. In addition, you will need to bring an ID (i.e., diver’s license) and closing funds in the form of certified funds (money order or cashier’s check). The amount you need to bring to the closing table will be in the Closing Disclosure, which will be provided by the Title company or the lender no later than 24 hours before the closing day. 

What Kind of Funds Will You Need?

So how much is this going to cost? Well, it depends. You may have to meet a minimum down payment to secure funding, depending on your loan type. For example, you need 3.5% for an FHA (federally insured loan) and 5% for a conventional loan. However, to avoid paying PMI (private mortgage insurance), you will need a 20% down payment when securing a conventional loan. Once you’ve built 20% equity in your new home, you can ask your lender to waive the PMI. With an FHA loan, the insurance lasts for the loan’s lifetime. Another payment you will encounter is earnest money. Although earnest money is negotiable, it’s typically 1% of the purchase price. It’s also refundable and is applied towards the purchase of your new home. What about closing costs? These expenses also fluctuate depending on taxes, escrow fees, insurance, etc.

Gold at The End of The Rainbow

It would be asking a lot to navigate this process alone. Luckily you don’t have to. Instead, I can help you every step of the way, advocating on your behalf in every negotiation to help you find the home you want at the price you feel good about. Sure, there are many steps in the home-buying process, but I’m happy to share tons of information so you can feel confident about every decision you make in the buying process.

Buying a home is the biggest financial decision most people make. But don’t go it alone. I’m Mister Frisco, Viktor Taushanov, and I’m here to help you every step of the way. Let’s work together to find the home that suits your lifestyle so you can live happily ever after.

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