Frisco Texas Residential

As a real estate agent I am frequently asked the question, “So, if you were buying a house right now, where would you buy?” Without hesitation, my answer is always the same, “Frisco”. I am honestly a big fan of this city and believe that it’s a great place to buy a home. I recommend it to all of my clients who are considering the North Dallas area. So, what’s so great about Frisco? More importantly, should you consider buying or investing in Frisco?

As a real estate agent I am frequently asked the question, “So, if you were buying a house right now, where would you buy?” Without hesitation, my answer is always the same, “Frisco”. I am honestly a big fan of this city and believe that it’s a great place to buy a home. I recommend it to all of my clients who are considering the North Dallas area. So, what’s so great about Frisco? More importantly, should you consider buying or investing in Frisco?

Frisco Has A Great Reputation and a Promising Future

Not long ago, Frisco was primarily undeveloped farm land. However, as neighboring Plano began to fill its geographical borders residents began looking for newer homes and lower prices. Frisco was a logical choice. Between the 1990 census and the 2000 census, Frisco grew well over 400%! Keep in mind the growth explosion was from 6,000 people to 33,000. While the percentage is huge, 33,000 people is still a small town and not much of draw. During that time, however, the City of Frisco made a series of very strategic moves that really put Frisco on the map.

In particular, Frisco built the largest mall in the state of Texas - Stonebriar Center, followed by a significant amount of big businesses, sporting arenas, and entertainment venues. In fact, in 2000 the City of Frisco was given the "Comprehensive Plan of the Year" award, publicly recognizing the future plans of the city as the best in the state. Frisco has been growing feverishly ever since.

With that kind of attention and momentum the residential building frenzy soon followed. Real estate developers moved in quickly. In fact, I tell my clients all the time, “In Frisco, I can take you 10 minutes in any direction and present you with at least 20 different home choices”. The result has been a large inventory of great homes in Frisco that are new or just a few years old.

TIP: A large amount of inventory in the market is great news for buyers; basic supply and demand principles apply. As the supply increases, competition increases, and prices have to hold steady, and more incentives are offered to entice buyers.

Interestingly, Frisco was the first city in the country to adopt the requirements of the EPA's "Energy Star" program as minimum building standards for new homes. Many of the new home builders strive to exceed these standards. You'll hear it often, "if you get a home built in Frisco it's going to be an energy efficient one".

Frisco Has Great Schools

One of the biggest considerations for prospective home buyers is the quality of the school system. It’s common sense that people prefer to live in areas where their children are educated well. A quick glance at the accountability records shows that Frisco clearly makes the grade. According to the 2007 Texas Education Association statistics, over 80% of Frisco schools has achieved either an "Exemplary" or “Recognized” status. Moreover, in a Frisco Enterprise article last year the local paper reported, “For the ninth consecutive year, FISD has grown more than 20 percent… Superintendent of Schools Rick Reedy said recent studies showed Frisco is the fastest growing school district of more than 4,000 students in the nation.” Clearly, that kind of growth rate can only be sustained in an area where people believe in the quality of the schools and the community.

Frisco Has Lower Property Taxes

In addition to the homes and the schools, Frisco is a great value for another reason: property taxes. After all, there are other great cities in the Dallas Metroplex with good schools and comparable growth. However, the city leaders of Frisco have done a masterful job of attracting great businesses to the area. As a result, the taxes paid by businesses help reduce the heavy tax burden paid by the citizens. For example, in some areas of Frisco the property taxes are as low as 2.3% (estimate). Compare that to 2.6% - 3% of other popular cities in the area. That translates to $1,750 annual savings on an average $250,000 home. Taxes alone are enough to explain why many people prefer Frisco.

Frisco Has Great Communities and Top-Notch Amenities

Take a quick drive through most Frisco neighborhoods and you will see something common to this area: most homeowners display a genuine “pride of ownership” in their homes and neighborhoods. The yards are clean and well kept. The communities are peaceful. The people are friendly. The crime is minimal. The typical Frisconian families are people who care about living in a quality community and a safe place for their children. This city attracts a top-notch demographic. The residents tend to be family-oriented, financially stable, and educated.

Besides good ‘hoods, the city planners of Frisco are well aware of other characteristics that makes North Texans tick... shopping and sports. In fact, some residents may argue that having Stonebriar Mall, IKEA, Super-Target, Baseball, and Hockey all within a five-mile radius proves Frisco was divinely inspired. Whether it is shopping, Pro Baseball (Frisco Rough Riders), Pro Hockey (Texas Tornados), or Professional Soccer (FC Dallas), they have all found a preferred home in Frisco. (The new Pizza Hut soccer stadium is fantastic, by the way.) Lake Lewisville is just minutes away with easy access for boating, jet skis, fishing, and working on your tan.

Frisco's Future Growth Potential and Real Estate Appreciation Is As Strong As It Gets

The Frisco of 10 years in the future will be strikingly different than the Frisco of now. Frisco is popular and is only going to get more popular in my opinion. In a recent Town Hall meeting city officials announced that Frisco is less than 50% of their overall comprehensive plan for the city. That means there is still 50% left to build and grow! Some estimates give Frisco a population around 250,000 when it's totally built out. That's the size of neighboring Plano who experienced a similar boom in the 80's and 90's.

Take a drive along Eldorado Parkway, Main Street, the Dallas Tollway, or West Lebanon and you’ll still see plenty of open areas primed for growth and development. With significant growth also comes the demand for new roads. If there is currently one negative about Frisco, people are moving here faster than the roads can be built. However, that is quickly changing.

One of the most important initiatives and biggest attractions is the expansion of the Dallas North Tollway (DNT) through Frisco to Highway 380. Historically, anything along the DNT has been prime real estate (in your spare time, get an aerial map of Dallas and count the number of Country Clubs from Uptown to Frisco that are located between Preston Rd. and the DNT). It is known to locals as “the Golden Corridor”. Since the completion of the DNT's extension in September 2007, residents now have quick North/South access to key areas like Plano, Addison, Love Field Airport, and Downtown Dallas. In fact, one of my clients recently reported that the new extension has cut 20 minutes off of her drive-time to work!

Equal in importance is the development and expansion of Highway 121. This tollroad will be a massive thoroughfare and business corridor stretching all the way to Fort Worth. Perhaps most importantly for Frisco residents, 121 will be the quickest route to DFW International Airport.

Additional roadway expansions include Eldorado Parkway and Highway 423. Extending East/West through Frisco, Eldorado Parkway will soon be a six-lane highway crossing Lake Lewisville and connect to I-35E. The same six-lane plan is true for Highway 423 running North/South from Highway 121 to Highway 380. There will also be countless new parks, schools, restaurants, hotels, entertainment, and of course, more beautiful houses! All of this indicates a strong probability of appreciating real estate values. As the infrastructure is set in place and residential subdivisions are complete, property values will most likely escalate. This is a great time to buy!

Conclusion

Should you buy a home in Frisco? Yes, now is the time to buy for all the right reasons. The data shows that the high demand for residential homes in Frisco will continue over the next several years driven by key factors like schools, taxes, shopping, and entertainment. The infrastructure necessary to make Frisco easily accessible is underway and will be complete in only a few short years. As more and more companies relocate to Frisco, the job market is another huge attraction. All of these factors truly make Frisco one of the best areas in Dallas for a great quality of life and strong real estate appreciation.

If you are considering buying a home in Frisco, please know that I would love to help you find just what you're looking for. I am available to help guide you through the different neighborhoods, different builders, spot good deals, and answer all your questions. It's a fact that working with a local agent who knows the area well is critical to help you make a well informed purchasing decision. Email Jeff today or call directly at (214)773-0567.

Author Information

Jeff Wimpy