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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Universal Studios

A corporate press release states, “The proposed park will be designed to be more intimate and engaging for younger audiences and will be sized for a regional audience. It will be full of family-friendly attractions, interactive and playful shows, character meet and greets, unique merchandise and fun food and beverage venues. Although smaller in size, it will still carry the same quality as Universal’s other larger resort destinations,” But there is plenty for the whole family to enjoy since Universal Studios identifies certain properties like Trolls, King Fu Panda, How to Train Your Dragon, and Madagascar to name a few.

Why a Theme Park in Frisco?

Theme park owners know it’s the size of the potential audience, how fast the city is growing, and how easy it is to get things done through official channels that contribute to their success. So when it was time to choose a location for a new theme park, Frisco was the obvious choice. A growing demographic, a fast city hall, and related city departments put the bullseye squarely on Frisco.

The Line Starts Here

Although the biggest news is Universal Studios coming to Frisco, don’t plan to wait in line this weekend. There is still plenty of time to work through approvals, permitting, and construction details once the park themes are finalized. Construction is expected to take several years, but Frisco residents won’t have to wait long to experience the benefits of new construction.

Frisco proves once again that success breeds success. Universal Studios opening a theme park in Frisco is likely to start a trend that deserves attention. So if you want to be a part of this, it’s the perfect time to contact Mister Frisco, Viktor Taushanov, and Globus Realty to find the home you need. Life is better in Frisco, and you deserve to find out why.

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Developer’s New Development Dream

The article continues, “Developers unveiled the plans and name of the $3 billion project on Nov, 30. The first phase of The Mix, which will be located at Dallas Parkway and Lebanon Road in the area described as the North Platinum Corridor in Frisco, will break ground in December, according to a news release. The project will encompass 28 of the northernmost acres along Lebanon Road and is slated for completion in 2026. “Our vision for The Mix is to create a community that embraces the diversity of Frisco,” Tim Campbell, head of The Mix development, said in the release. “At The Mix, you’ll enjoy and interact with a mosaic of thoughtful architecture and vibrant green open space. We want every view to be a beautiful one.”

Famous Park Roots

A familiar name will help with the design. The article adds, “The park will be designed by OJB, the landscape firm behind Klyde Warren Park in Dallas, and will feature an event lawn, a performance pavilion, playgrounds, promenades and a pond, Campbell said. Overall The Mix will have a total of 20 acres of green open space to create a walkable community, he said. Frisco Mayor Jeff Cheney said the revised property plans improved upon the original vision, specifically with the central park that falls in line with the city’s development standards. “Wade Park is certainly one of the developments [where] we get the most questions asked from our community,” Cheney said. “There were big aspirations for that piece of property and a big vision kind of sold to the public.”

World Class Mixed-Experience

There will certainly be something for everyone. The article continues, “Once completed, Cheney expects the development will be world-class among mixed-experience communities. “We’re certainly excited as city leaders to see that project moving forward,” Cheney said. The Mix is planned to have approximately 2 million square feet of office space; 375,000 square feet of retail, including a grocery store; a business hotel and a boutique hotel; and 3 million square feet of residential, according to the release. StreetLights Residential, a Dallas-based, design-focused multifamily and mixed-use developer, is partnering on the residential aspect of the project.”

With so much arriving in Frisco, it’s easy to see why so many people want to live there. That’s why you need help from Mister Frisco to find your dream home. A new development is always coming to Frisco, so don’t miss out.

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To offer a fresh perspective, we’ve laid out the pros and cons of renting vs. owning a home. Use this information to figure out what’s right for you and start living your best life!

Renting an Apartment – Pros: 

• You’re not responsible for maintenance or repairs. If something breaks, it’s up to your landlord to fix it. 
• Rent is sometimes cheaper than a mortgage payment, leaving you with more money in your pocket each month. 
• You can move whenever you want without having to go through the hassle (and expense) of selling your home. 

Renting an Apartment – Cons: 

• You’re never going to build equity by paying someone else’s mortgage. 
• Landlords can raise the rent anytime, leaving you struggling to make ends meet. 
• You may be restricted in decorating or making changes to the unit, meaning you’ll never really feel at home. 

Owning a Home – Pros: 

• Each monthly mortgage payment brings you one step closer to owning your home outright. 
• Once you own your home, your monthly housing payments are fixed, so you’ll never have to worry about rent increases. 
• Making renovations and improvements to your home can add value over time. And if you ever do want to move, those changes will pay off handsomely. 

Owning a Home – Cons: 

• Unlike landlords, homeowners are responsible for all maintenance and repairs, which can be expensive. 
• If you need or want to move before the end of your mortgage term, you may have difficulty selling your home or may have to sell it for less than it’s worth. 

Some Home Ownership Myths

Plenty of websites tout putting 20% down of the purchase price as a solid Con to home ownership. But unless it’s not an investment property, the down payment doesn’t require 20%. The minimum requirement is usually 5% for a conventional loan and 3.5% for FHA. VA loans are even 0% down. And, what’s expensive to some may not be expensive to others, so the challenges of running a house are very subjective. One thing, however, is certain. Throwing money into a rental could be much more expensive. However, paying for your own house is much better than paying off a landlord’s house.

When it comes right down to it, there is no clear answer as to whether renting or owning a home is better. It all depends on your individual circumstances and what’s important to you. When you’re ready to get serious about owning a home, there’s no greater ally than Mister Frisco, Viktor Taushanov, and Globus Realty.

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Innovation and Incubation Hub

According to the article, “The retail division of the Tokyo-based business solutions giant plans to open a new innovation and incubation hub at Frisco’s Hall Park development. Toshiba will bring 50 new jobs to the region in 2022, with plans to expand its local team to around 150 over the next two years.” Additionally, “We’re focused on providing scalable, customer-centric solutions that deliver optimized experiences to meet consumers when, where, and how they shop,” said Rance Poehler, president and CEO at Toshiba Global Commerce Solutions, in a statement. “While many tech companies are cutting back, we’re investing significantly and expanding to meet new demand created by our commerce platform recognized for accelerating digital transformation to deliver an exceptional retail experience.”

Texas Talent for Toshiba

According to the Cummings article, “Toshiba cited North Texas’ tech talent pool as a reason for locating the hub in Frisco. “Part of our strategy includes engaging emerging startups in the region to expand our ecosystem,” said Mike Yeung, EVP and CTO of Toshiba’s retail division, in a statement. “Our investments in IoT, data analytics, and computer vision enable retailers to provide a consistent, compelling experience for consumers, whether they shop in-store, at curbside, on their mobile device, or at home.”

Hall Park in Frisco

The article concludes, “Toshiba’s move adds to what is already Frisco’s largest workforce site, with more than 10,000 workers employed at Hall Park. Last October, Dallas developer Hall Group launched a $7 billion redevelopment of Hall Park that will add more than 9 million square feet of mixed-use space to the development. “Toshiba’s research and development expansion will bring new corporate innovation jobs that will provide great opportunities for Frisco residents and further expand our tech ecosystem,” Frisco Mayor Jeff Cheney said in a statement.”

A fantastic location and a large talent pool are only a few reasons Toshiba comes to Frisco. Find your Frisco home with help from Globus Realty today!

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More Than Prices

What makes the difference in the study? According to the WalletHub website, “Whether you’re joining the real-estate business or just looking for a place to call home, it’s important to get a handle on the housing markets you’re considering before investing in a property. This year, the housing market is skewed much more toward sellers, with mortgage rates having nearly doubled in the past year and home values having risen nearly 21% on average…If you aim for long-term growth, equity and profit with your housing purchase, you’ll need to look beyond tangible factors like square footage and style. Those factors certainly drive up property values. From an investor’s standpoint, though, they hold less significance than historical market trends and the economic health of residents.”

Mister Frisco

Globus Realty and Viktor Taushanov, aka Mister Frisco, is your best source for finding the home you want in Frisco, Texas. So whether you need to relocate with your company or need breathing room for your family, you can find it here. With plenty of new listings, Viktor has something for everyone. So discover the difference Mister Frisco can make in your search for your dream home.

It’s no surprise that Frisco has been named the best place to buy a home. Your best life ever is waiting in Frisco, so contact Viktor today!

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Elm Street Construction

The Rail District in Downtown Frisco has needed pedestrian improvements for a while, and now they’re on their way. Improving walkability on Elm Street is now a top priority. Recently the council approved a contract worth $5.1M for improvements to “…replacement of existing pavement, additional on-street parking, new streetlights, water and wastewater improvements and a new traffic signal at the intersection with 5th Street,” according to a recent CommunityImpact article.

The Rail District

The Rail District in Frisco is your destination for upscale dining, shopping, and entertainment. According to the merchant’s association website, “The Rail District Merchants cordially invite you to explore Main Street and its branching ‘Tree Streets.’ Visitors will fall in love with the free-spirited, small-town feel rich in history and featuring independently-owned trendy boutiques, tastemaker home decor, hand-crafted coffees, fitness and beauty, and top-notch restaurants specializing in gourmet fare and casual feasts. Activities within the Rail District grow each year to bring the community an experience that is completely authentic and special, including the annual Frisco StrEATS Gourmet Food Truck & Music Festival, quarterly Sip, Shop & Stroll events, and so much more.”

Mister Frisco

Buying a new home can be an emotional roller coaster. Viktor prioritizes relationships because a strong client relationship helps every step of the buying process. Are you looking for a home for a large family or thinking about starting one? Do you want long, lazy weekends but easy access to upscale shopping and worthwhile nightlife? Frisco has a broad appeal, so you are bound to find something you love. It all begins with the right home. 

You belong in Frisco. The easiest way to get there is with Globus Realty and Mister Frisco’s help finding the perfect home. Don’t delay!

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Lower Taxes

A school district’s property tax rate in Texas is tied to property values. As values go up, school funding goes up. Strong growth in Frisco has meant increased property tax values from 2021 to 2022. But according to a recent article from CommunityImpact, “Frisco ISD has decreased the district’s tax rate by about $0.05 for the upcoming fiscal year.” That’s good news for existing homeowners and new construction.

Frisco ISD

Lowering the tax rate because of rising property values is a move Frisco ISD is fond of. Continuing the article, “Board President René Archamboult said the District was able to lower the tax rate more than initially thought due to the value of the land. “We’re always looking for ways to reduce the burden on homeowners who send their kiddos to Frisco ISD,” she said.” If you are moving to Frisco with school-aged children or plans to start a family, it’s nice to know their public school system has parents’ interest in mind beyond their children’s education.

History of Kindness

This isn’t the only time Frisco ISD has lowered the tax burden on property owners. According to an article from the Frisco ISD website, “Since 2018, the portion of Frisco ISD’s tax rate that pays for maintenance and operations has dropped nearly 23 cents due to House Bill 3, the 2019 law that limits school district revenue growth. The hot housing market helped drive a 14.7% increase in assessed property values within the FISD boundaries from 2021 to 2022. As a result, the District’s tax rate will decrease to offset the burden on homeowners.”

Trust Mister Frisco, Viktor Taushanov, and Globus Realty to help you find your forever home. Contact Viktor today and make your dreams a reality.

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