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Frisco TX Homes for sale

NEW HOME CONSTRUCTION
There seem to be a significance drop on building permits issued for Frisco (by almost 37% in 2008 when compared to 2007). In the recent years, the most building permits were ever issued in one year was over 3,600 permits in 2005. That is 70% drop comparing the two when the year closed out in 2008. . At the time when this post was put out (January 2009), builders continue to attract buyers with huge incentives to start off the year. It is also fairly typical of builders to keep their prices where they are at before raising it a little starting March/ April time frame when more buyers start to make a decision about their housing needs.

PRE-EXISTING HOMES
In early January 2009, there are 971 homes for sale in the Frisco TX market. Their average days on the market is 117 days and counting. Two types of homes seem to dominate the Frisco TX real estate marketplace: Those homes that sell quickly, typically less than 60 days, then there are those that are in the long-haul (over 6 months to say the least. Then there are those that never sell). The inventory level this time of the year have dropped compared to 2008 (during the same time). Most sellers who do not need to sell are holding off their plans. Hence, remaining those that have more of a "need" to sell are the players of the real estate sellers at the moment. Buyers still have a good selection of homes to choose from.

The lowest price property in Frisco at the moment is around $85,000 - a cute little house in Historic Downtown Frisco. The most expensive home in Frisco is a little over $4 million in Stonebriar Creek - a secluded, private gated and guarded community in West Frisco. There are 5 properties priced less than $100,000 and 65 luxury million dollar estates in Frisco for purchase at the moment. Everything else (900 homes) in between.

FORECLOSURES & PRE-FORECLOSURES
The Foreclosure, pre-foreclosures and short sale properties continue to challenge the Frisco TX housing market. At the 4th Quarter of 2008, the banks, lenders and mortgage companies finally came to their senses that they are holding more inventories than they really want. Hence, they slashed and released properties on the market at very attractive prices for buyers. One thing I had also noticed that relocation companies are also holding properties of transferees much longer than they had anticipated, hence buyers of real estate are also getting attractive deals in this arena.

RELOCATIONS
Most people that move to the Frisco TX area do it for one of two reasons: their jobs or the relatively low cost of housing when compared to the rest of the country. Most people who are relocating to the Frisco TX area come from California, Phoenix, Chicago metropolitan areas, East Coasts such as Boston, New York, Pennsylvania and even Florida. Most of the buyers bring with them some equity for their "relatively" cheap new and big house here in Texas. Many of them have small mortgage payments - at least in this new trend of clients that I am serving more of today. Many of them select Frisco because of the family-friendly nature of the city development and also the highly recognized school system, Frisco ISD. Most clients tell me that our Frisco school system here is equivalent or better than the private school education systems back where they come from. I have also had some clients who specifically moved to and into the Frisco school system because we have a strong Special Education for children.

MY COMMENTARY:
Buyers
No doubt that it is an attractive time for buyers to purchase in Frisco TX right now. The houses that some sellers purchased for just a few years ago, are re-sold for $30-$50K less in some extreme cases. The low interest rates continue to favor the buyer's budgets and sellers are more willing to negotiate these offers. Just transactions that happened in early 2008 - which is absolutely no deal then is revived and accepted in the late 2008 by sellers and banks alike. I only wished I was in the market to purchase right now.

Sellers
Though it seemed that I had painted a fairly rosy picture for the buyers, it doesn't mean that it's absolutely no deal for you. I am particularly surprised myself that some sellers I am helping at the moment have gained equity in the past few years. So, not all is bad. Homes in Frisco TX are relatively new compared to other parts of the metroplex. Though price continue to be a challenge, Frisco TX is still a highly sought after place to live for many transplants to the city. Let's discuss your situation in specifics to see if you would be another seller of real estate here in Frisco TX.

Frisco TX is my backyard. It is where I live, play and work. Share with me your real estate needs and I'll see if I'm able to help you.

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