A recent article again proves it’s a great time to buy a home in Frisco. As shown in the article by Community Impact, “Frisco City Council approves homestead exemption increase, property tax freeze for elderly and disabled residents.” Who doesn’t love a hearty tax break?

Exemption Increase

The Frisco City Council approved “an exemption increase in ad valorem property taxes for residences within the city at its June 21 meeting. The change raises the Homestead exemption from 10% to 12.5%.” They also approved freezing property taxes on the elderly and disabled. “Both changes will be effective for the Jan. 1, 2022 valuations and affect taxes for the 2023 fiscal year, according to city documents. The freeze for homeowners who are elderly and disabled will be in effect until an amendment to the Texas Constitution changes it, per city documents.”

Whole-Life Care in Frisco

According to Deputy Mayor Pro Tem Angelia Pelham, “We want people to come to Frisco to live and to work and to play, but we want you to come to Frisco to retire.” Certainly, a welcome change as more children of elderly parents contributes financially to parents who would otherwise be priced out of their homes.

Only the Beginning

The article concludes, “Frisco first adopted a homestead exemption, which lowers the property value used to calculate property taxes owed, in June 2017, according to city documents. It started at 7.5% and increased to 10% in 2018. City staff evaluates the percentage each year in an effort to maintain both the homestead and elderly and disabled exemption at approximately 33% of the median assessed home value, city documents state.” Adds Mayor Jeff Cheney, “The homestead exemption is a personal passion of mine. It is our goal to get this to 20%, and we’re going to keep pushing every single year [and] stressing the budget every single year to see how fast we can get it.”

Now is the perfect time to call Globus Realty, AKA Mister Frisco, to find your forever home. Don’t miss your chance to live in Frisco!

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Major medical providers Baylor, Scott and White have requested a rezoning of 47+ acres in Frisco. According to the BS&E website, “As the largest not-for-profit​ healthcare system in Texas and one of the largest in the United States, Baylor Scott & White Health was born from the 2013 combination of Baylor Health Care System and Scott & White Healthcare. Today, Baylor Scott & White includes 52 hospitals, more than 800 patient care sites, more than 7,300 active physicians, over 49,000 employees and the Scott &​ White Health Plan.” 

What’s in the Rezoning?

According to an article in FriscoEnterprise, Tuesday’s City of Frisco Planning & Rezoning Commission meeting, “the board was to consider a request from Baylor Scott & White Health to rezone 47.4-plus acres on the northeast corner of Dallas Parkway and PGA Parkway from retail and industrial to Office-2, and to amend the zoning ordinance.” 

Healthy Possibilities

Could this mean an enlargement of the medical services Baylor, Scott & White provides to Frisco? According to the article, “The health system is requesting to rezone the property to Office-2, which can accommodate a variety of mid-and high-rise office developments providing for professional, financial, medical and similar services for local residents; corporate offices; and major employment centers; as well as limited retail establishments, when incidental to main uses.”

All Systems Go

With its prime location, residents will only benefit from the expansion. The article concludes, “Office-2 zoning is appropriate for this property due to its location at Dallas North Tollway and PGA Parkway intersection. Further, Office-2 zoning allows for unlimited height but requires greater setbacks when adjacent to single-family, two-family or patio home residential…The recommendation before Tuesday night’s meeting was to approve the zoning change to Office-2.”

Making your move to Frisco makes sense. Trust Globus Realty to find your forever home and be with you every step of the way in your most important investment – your new home.

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The ground has been broken on the 80-acre Railhead development in Frisco. First proposed in 2017, this long-anticipated addition to Frisco is well underway. According to FriscoEnterprise, “…The Railhead in Frisco an 80-acre mixed-use development that is set to include multifamily units as well as a restaurant, retail, hotel, and office use and a five-acre Klyde Warren-esque park.”

Railhead Development

Heady Investments of Plano, Texas, is the master developer for the site just off the Dallas North Tollway near Toyota Stadium and Wakeland High School. “We love being in the city of Frisco; we’re no strangers to the city of Frisco,” said Sayres Heady of Heady Investments, adding that the company was previously behind the Frisco Bridges Place office building. “So we feel really fortunate to be back. The city is wonderful to work with. They’ve really stood behind us.” 

Jim Newman

According to the article, Jim Newman’s family has been in Frisco for over 100 years. “This project has been many years in the making,” says Newman Real Estate. Also, “The partnership also includes multifamily developer JPI, which has already broken ground on the first phase of multifamily development, Heady said.”

What’s In-Store? – Development!

The Railhead development plan includes “…1,280 class AA multifamily units in addition to restaurant and retail pads, office and hotel space and the urban park, which Heady said is expected to include a dog park, food trucks, and playground space.” Healy adds from the article, “the outlook includes a potential 1 million square feet of office development with the potential for as much as 2 million…We are talking to a number of restaurants, retailers, medical users and most notably a large amount of office space, both from developers in state and out of state that have expressed interest,”

Globus Realty is your best resource to stake your claim in Frisco. Trust Mr. Frisco to find your perfect home in a highly-competitive market so you can enjoy your slice of paradise in Texas’ fastest growing community.  The groundbreaking on the 80-acre Railhead development adds new development to Frisco. Don’t miss out!

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200-Key Hotel for Firefly Park

The hotel breaks ground in 2023 and opens in 2026. Anchoring the new mixed-use development aptly named Firefly Park. According to the article, this project “…calls for 4.75 million square feet of office space, 2,200 residential units (including luxury mid- and high-rise apartments and townhomes), and 380,000 square feet of planned retail space. The project is also set to include a music hall and an outdoor amphitheater.” Firefly Park Wilks Development adds from the article, “We’re going to do it in spades in Frisco… We’re all in. We believe this is a legacy deal, and we might only get one opportunity to do a project like this on this scale.”

Wilks Development in Frisco

Wilks Development is a name you will hear more from. Based in the West Texas town of Cisco, Wilks Development has primarily focused on mixed-use, multifamily, and industrial projects in West Texas and west of Fort Worth. According to D Magazine, “The firm also is developing a 200-acre business park called Markum Ranch in West Fort Worth and a land site in Southlake that’s about 2 miles from Fort Worth Alliance Airport.”

A Special Flair

Firefly Park is the right name for this project. The article concludes, “When asked why he chose the name Firefly Park, Wilks says he wasn’t about to choose a dull name. “We want this place to be full of vibrancy and energy,” he says. “When you think about being a kid and running through the woods—you catch these fireflies and put them in a jar. To me, it brings back good memories of childhood and all the fun I had. … We felt like this was a good opportunity to throw a curveball and go with something with a little more flair.”

Whether looking for property in Frisco, your search begins with Globus Realty. Contact Mr. Frisco when you are ready to make a splash in America’s favorite city. Mixed-use Firefly Park is coming to Frisco! 

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The median home value in Addison has gone up 1.7% since this time last year. From roughly $202,000 in 2014, to just over $206,000 now. Additionally, home values are predicted to rise another 2.0% within the next year.

The median list price per square foot and the median rent price data, were not collected for this study.

The first step of the foreclosure process happens when a homeowner fails to make a mortgage payment. This is known as mortgage delinquency. The percent of delinquent mortgages in Addison is 9.2%, slightly lower than the national value of 6.0%.

U.S. home values have fallen by more than 20% nationally from their peak in 2007, until their trough in 2011. Many U.S. homeowners are now considered under water on their home mortgages. While some Dallas homeowners have literally found their homes under water, for the sake of this study, under water means homeowners owe more on their mortgage than their home is worth. 21.7% of Addison homeowners are under water, which is lower than the Chicago Metro area average of 23.7%.

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If you are searching to relocate within North Texas or even adjust your home size, whether it be up- or down-sized Frisco is one area you might want to strongly consider. Besides the obvious benefits to this upscale, suburban town such as highly rated schools, close proximity to high-quality shopping, museums, family friendly activities, and a variety of minor league sporting teams the housing market in Frisco is ever so appealing.

Buying or selling in Frisco this spring is appealing for more than one reason… sellers are very happy these days with the 2.2 months on the market. That is a typical turn-time expectation for a seller’s turn time which is typical for a stronger seller’s market.

As an example of what you might expect to find in Frisco here is a quick synopsis of the pre-owned housing market date for Christie ranch and 3 more surrounding neighborhoods – Grayhawk, Newman Village, Northridge Estates.

In 2013 we were seeing the average price per square foot around $92.62 and average days on the market at 26 days. The median house price in the area was $270,000, while the average was $287,795. That year wrapped up with a total of 170 houses sold.

Moving to 2014, the numbers have only improved. We saw 183 homes sold; averaging $102.24 per square foot and moving on an average of 28 days on the market. The median home price increased to $297,740 and the average jumped to $319,717.

Adding the new home sales, homes sales numbers looked just as exciting with the numbers starting a little higher than the pre-owned only, but increasing in the same manner. While the average days on the market were longer (49 – 2013and 46 – 2014) the median and average home prices were higher.   $278,500/$308,520 median/average in 2013, but showing a median price increase of 8.25% to $301,500/$325, 512 respectively.

To look more in-depth into what this could mean for you, call us for your real estate review today!

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More and more large companies have set their sights on Plano’s Legacy West development as one of the top potential sites for company expansion or relocations. This is great news for families looking to shorten their commute and live in a fabulous, upscale family-oriented community.

If you are curious just who is seeking to move into these parts here are just a few notables: Liberty Mutual Insurance, based in Boston, has been seeking a lease or purchase of upwards of a million-square-feet space to house anywhere from 4,000-5,000 employees.

As large companies circle North Texas in search of new corporate homes or regional hubs, Plano’s Legacy West development is once again surfacing as a potential site.

The latest deal being discussed: Boston-based Liberty Mutual Insurance plans to lease, or own, a nearly million-square-foot service center in a campus-like setting in a project that could bring 4,000 to 5,000 jobs to West Plano. This is still speculative until an official announcement is made from Liberty Mutual itself, however, it is pretty exciting, nonetheless.

Legacy West is the same mixed-use project area on the southwest corner of Highway 121 and the Dallas North Toll road where Toyota Motor Corporate recently began construction of its North American headquarters, expected to be complete later this year. FedEx also boasts a new headquarters site here; filling approximately 265,000 square feet of space.

“There’s certainly some big projects out there that are looking at Frisco,” said Jim Gandy, president of the Frisco Economic Development Corp. “There’s more than one deal roaming in that ballpark and actively looking at this area.”

As you probably already suspected, Frisco just keeps getting better and better!

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Love makes the world go around and should be shared freely with everyone, all the time. But most especially it should be shown to your nearest and dearest every day of the year, not just on February 14th.

It doesn’t even take a lot of effort; instead just start a habit (habits can be engrained after 30 days of intentional effort). Once you get it going it won’t be so hard to keep it going and think of the fun it will bring.

Begin and end each day with a conversation and I mean a REAL conversation, without distractions such as TVs, phones, social media and so forth. Make eye contact, if face to face, and smile. Smiles can be felt even through the phone. Try it! It reminds people they matter to you.

Hug your loved ones. A minimum of 20 seconds per real, full-bodied hug reinforces your connections with others and remains with you throughout the day. It lifts spirits and reduces blood pressure and stress. It is medically proven! And if you are hugging a child… be sure you are the LAST to let go.

Don’t forget the little things add up to be big things. Leave a thank you note, replace the toilet paper or other little gestures that you know will resonate with your significant other. Maybe it only takes restocking the fridge with favorite munchies before they ask or grabbing an extra ice cream when treating yourself. Actions speak volumes.

Tell them how you feel. Say “I love you” or ” I appreciate who you are”. Your words may make such a difference in their day and you might not even recognize how much they needed to hear it. Do it anyway. I promise you won’t regret it.

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Technology, communication and transportation are Frisco focuses in the new year, as improvements in these areas can change on a dime. It is important for Frisco businesses to stay on top of the local developments as well, as they will be impacted in a myriad of ways.

Additionally, demographics are always adjusting, so businesses should stay on top of trends as the old ways of doing business may have some inadvertently left behind. The Frisco Chamber is here to keep you updated with changes in area trends and statistics.

Tollway projects which will improve traffic and congestion to and from local businesses and open up space for corporate ventures and corporate expansion, additionally garnering positive media attention both on the local and national scope.

The Frisco Chamber of Commerce is actively working to maintain ongoing programs and planned events to the benefit of area businesses. For instance, a great deal of notoriety may be cited to the Frisco Chamber’s Strategic Plan which will carry on into 2015 with an emphasis on members and improving the benefits and value they receive through their chamber membership. A couple of examples are the Four-Star Accreditation with the U.S. Chamber of Commerce involvement in the 2015 legislative session in Austin to maintain a strong Texas wide business climate.

Continued work in Austin pushing for more transportation and construction funding will help to further Frisco’s growth and development which is only positive for our local businesses and residents.

While we expect strong local projects and job growth in Frisco, national influences will have impact, like always. The Chamber actively works to watch national issues and anticipate local impact to protect our own. The Chamber is always welcoming new businesses and maintaining those existing relationships in the best ways possible.

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