Where are Home Prices Going?

Are prices going to rise or fall? The article states, “There are two places to turn to answer this question. First is the consensus of what experts are saying. If you look at what experts are projecting for home prices in 2023, they forecast home price appreciation of around 2%. So while it’s true some are calling for depreciation, most are calling for appreciation in home values over the next year…The second spot to turn to for information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists. According to the latest release, the experts surveyed are also calling for home price appreciation for the next several years.”

What About Rates?

There is even more interest surrounding rates. The KCM article offers, “Like mentioned above, Ratiu sees mortgage rates rising over the next several months. Another expert agrees. Mark Fleming, Chief Economist at First American, says: “While mortgage rates are expected to continue to drift higher over the coming months, much of the rapid increase in rates is likely behind us.” The instability in the world and higher inflation are driving this volatile market, resulting in higher borrowing rates for those looking to buy homes.”

To Be or Not To Be

Regardless of prices and rates, many homeowners still feel the carpe diem passion raised during the COVID pandemic. As a result, many are taking the plunge on a new home, knowing that rates change, but opportunities to own the home of their dreams can pass forever. The key is finding the right realtor and knowing your valuation of cost versus the happiness the perfect home would bring you and your family.

When it’s time to consider the important questions house hunters should ask now, remember to have the right expert on your side. Viktor Taushanov with Globus Realty is your guide to finding the home you want in any market.

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Low Inventory

Unsurprisingly, low inventory is a likely side-effect of wanting to live in a hot area. However, structurally, building homes takes time, and those who may consider selling are also stuck with having to buy a replacement. But just like a packed restaurant parking lot tells you something about the food, low inventory in a specific city suggests you may want to live there too. Here, a quality realtor can present properties you will love as soon as they become available.

Too Many Buyers

You may not be the only person to think the latest listing is the perfect home. Bidding wars on a property can be a nightmare and endlessly frustrating. Realtors know how to market homes to benefit their sellers, and attracting multiple offers means they’re doing their job. But with the right realtor on your side, you can find those diamonds in the rough and avoid a bidding war on your potential forever home.

Risk of Overpaying

Nobody likes overpaying, especially in real estate. But, with lending rates climbing, today’s borrowers can expect to pay a premium on their dream homes. That’s why it’s important to find a realtor who will get you the most bang for your buck. A little flexibility in your requirements for your dream home can get you into a home you love hassle-free. The right realtor, like Mister Frisco, makes all the difference.

Manage the top 3 challenges in a seller’s market like a professional with help from Globus Realty and Mister Frisco. You can buy hassle-free in a seller’s market with Viktor Taushanov. See how today!

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ACM Awards

Josh Dill, director of sports and events at Visit Frisco, says, according to the article, “I think that over the years, Frisco has proven that we can rise to the occasion for these big events… It’s going to have a significant impact on the entire region hosting this event.” Held on May 11, 2023, the event will be livestreamed globally, exclusively on Amazon Prime Video.

Adds Jennifer Salke from the article, “We are thrilled to once again bring the Emmy Award-nominated Academy of Country Music Awards to our global audience.”

Bigger is Better

From the article, “The 58th ACM Awards will be the first nationally televised award show to take place at the Ford Center, according to Dill. The Ford Center is a 12,000-seat multi-purpose stadium that opened in 2016, according to previous Community Impact Newspaper reporting. The Star in Frisco surrounds the Ford Center and includes the Dallas Cowboys world headquarters, restaurants, retail, and an Omni Hotel. The Ford Center is the result of a public-private partnership among the Dallas Cowboys, the city of Frisco, and Frisco ISD. Dill acknowledged the role that the relationship between the Cowboys and the Academy of Country Music played in bringing the event to Frisco.”

On the Radar

Adds Dill from the article, “In October of last year, we had a World Cup site visit, and we talked to [the Cowboys representatives] about [the ACM Awards] being on our radar, but we didn’t get heavily involved in the logistics until April.” Additionally, “We can’t wait to take the show to a new level for fans with an exciting new venue and integrated partnership with the Dallas Cowboys,’ Academy of Country Music CEO Damon Whiteside said in a press release.”

Frisco has magic all its own. Trust the experts at Globus Realty and Mr. Frisco to help you find where you belong in Frisco with a beautiful home. 

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Housing Development

A single-family home portion of the neighborhood includes “…a combination of 7,000-, 8,500- and 12,500-square-feet lots with patios, documents stated. This area of the development will be framed by Independence Parkway on the west and Havenwood Lane on the north.” There are also plans for a three-story apartment development that sits behind retail shops. A four-acre public park separates the single-family home neighborhood from the apartment development.

Retail Shops

There will also be plenty of opportunities for new businesses in this development. The article adds, “The intersection of Custer Road and Main Street will provide an entrance to a variety of retail shops, site plans show…A four-story amenity center is planned for the center of the property, to the west of the park.”

Dedicated Development

This development had to be perfect for Frisco. At times this meant going back to the drawing board for improvements. But, adds the article, “Commissioner Jon Kendall, who said he did not like the 2017 plan, commended representatives from Kimley-Horn for addressing the city’s notes in its updated development.” Kendall adds, “Most developments, they want to take ideally six months—the long ones 12 months,” Kendall said. “The fact that we’re sitting here five years later, I hope that [shows] the city how much [Kimley-Horn is] pushing.”

The Grove Frisco is moving forward, are you ready? Globus Realty is your key to unlocking the lifestyle of your dreams in Frisco. Contact Globus Realty and Mr. Frisco when you are ready to find your perfect home in beautiful Frisco. 

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How Hot?                                             

According to an analysis from Redfin;

• Many homes get multiple offers, some with waived contingencies.
• The average homes sell for about 9% above the list price and go pending in around 12 days.
• Hot homes can sell for about 18% above the list price and go pending in around 7 days.

Why Frisco?

According to an article from Money magazine, Frisco has the perfect balance of a low cost of living and high-income homeowners. Indeed, times have changed, but demand for a home in Frisco has only increased. According to the article, “While there’s a lot to love about Frisco, part of its appeal is the city’s relatively low cost of living compared with its higher incomes and booming job growth. A typical Frisco family could pay off a new home in less than half the time it would take a Bostonian one to do so.”

Business is Booming

Discretionary income inspires new development. Expansive developments like those from the PGA will become another crown jewel in Frisco’s growth. According to a Frisco city article, “In December 2018, the PGA of America announced plans to move its headquarters from Palm Beach County, Florida, to Frisco, Texas, where it will anchor a 660 -acre mixed-use development with a public-private investment worth more than half a billion dollars. Two championship golf courses are being built at PGA Frisco and a short course and practice areas. In addition, the new PGA of America headquarters will become home to national player development and coaching programs. This public-private partnership teams PGA of America with Omni Stillwater Woods (OSW), the City of Frisco, its Economic and Community Development Corporations, and the Frisco Independent School District. The City of Frisco and its development corporations (each funded by a half-cent of Frisco’s sales tax) and FISD are contributing no more than $35 million toward developing the public facilities. The city will own the golf courses, clubhouse, practice areas, and associated public facilities.”

Frisco is hotter than ever! Globus Realty is your gateway to unlocking the life you want to live in Frisco, Texas. Trust “Mister Frisco” to find your new home so you can establish yourself in the best city in Texas.

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Neighborhood Feel

Anyone can create cookie-cutter housing developments, but not in Frisco. Instead, expansion in Frisco has benefitted from the investment of significant developers with a unique vision. Recently, Dallas-based developer HALL Group announced the construction commencement of its new masterplan development. Their 15-building, 162-acre HALL Park office park will become a dynamic mixed-use community. Opening in the fall of 2023, this $500B, 1,000,000 SF development includes a new Class AAA office tower, 154-key boutique hotel, 19-story luxury residential tower, a collection of 60 executive suites, and a 10,000 SF food hall, all surrounding a programmed community park. 

Booming Global Vision

“What’s next?” is the developer’s mindset in Frisco, especially Fehmi Karahan. Creator of the successful Legacy West project in Plano, Karahan hopes to recast that magic into The Fields Project, focusing on the 2,500-acre undeveloped Fields property in Frisco. Partnered with Ray L. Hunt, executive chair of Hunt Consolidated, and Chris Kleinert, co-CEO of Hunt Consolidated, Karahan’s The Fields Project will bring unprecedented development and substantial commercial tax revenue to the city. The heart of The Fields Project is Panther Creek. The creek will be upgraded into a chain of lakes that connect nine sub-districts called villages. Along with a nearby PGA development and The Links billion-dollar mixed-use development, Frisco is growing like never before.

Room for Dreams in Frisco

Modernization and innovative real estate development cost many cities their souls, but not Frisco. Here backyard barbecues with friends, taking the kids to weekend games, long walks, and date nights still thrive. In Frisco, backyard barbecues are at fantastic homes. Weekend games might include international Esports tournaments. Long walks live at expansive parks and date nights are as incredible as your imagination.

Globus Realty is your key to enjoying the lifestyle you deserve. Let our experts help you find the perfect home that’s your launchpad into a life you’ve never imagined. We can help.

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