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Update: The Gate becomes even more palatial


The Gate in Frisco Update 2.23.16

UPDATE 2.23.16: ‘The Gate’ becomes even more palatial per DBJ 2nd Feb 2016

The Gate , CEO  Anas Kozbari recently announced through an interview with DBJ, that IGO has been putting finishing touches on plans for ‘THE GATE’ being developed by his Invest Group Overseas.

‘THE GATE’ is a 41 -acre mixed-use development in Frisco near Cowboys’ new headquarters, aka The Frisco Star, which as we all know is the new home for the Dallas Cowboys’ headquarters. At this time IGO is looking to get underway by the end of third quarter 2016.

NEWS FLASH:

Steve Brown Dallas Morning News 2.10.16 Section D Business Real Estate ‘40.6 acre property planned for high rise project with offices, apartment, retail’ HEADLINE – Frisco’s Gate tract for sale.

2.11.16  DBJ ‘Dubai-based investor puts The Gate’s $1B development plans on the market looking for partners’.  Information in DBJ article states …. ‘The Gate is being offered for sale with different parcels of the master development per Drew Kile of Institutional Property Advisors or ‘At the end of the day we could sell all the parcels making up The Gate or one buyer could come in and buy the entire project.

ABOUT THE TIME I think I’m gonna wrap this up another UPDATE comes across the wire so to speak.  Here’s the latest from  Candace Carlisle of DBJ with her article ‘Developer: $1B THE GATE project in frisco not for sale, now or later’.   That’s direct from IGO CEO Anas Kozbari and his key statement “Without a doubt the project shall be a great success to us and the city”.  To further cement IGO’s commitment to what looks to be a seven to ten year project CEO Kozbari stated IGO is deciding between two hotel flas for the marquee hotel to be located at the northwest corner of John Hickman Parkway and Dallas North Tollway.

Stay tuned for update on bottom line of what is transpiring here!  www.friscohomesandland.comSmith & Smith Realty

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Below text BLOG was posted on www.friscohomesandland.com 12.28.15

Frisco’s Economic Development Corporation has a lot on their plate for the next five to ten years. To get a better understanding of what’s going on you should be aware of the phrase Frisco’s $5B Mile and what all it entails.

When all is said and done  THE GATE will be a $700 million part of the $5B Mile in Frisco.  Headed by Dr Anas Kozbari CEO of the Dubai based IGO development firm.  Dr Kozbari first visited the Frisco area in late 2011 to meet with Frisco Mayor Maso and other city officials and scout out potential sites for The Gate.

The Gates’  main PROJECT FEATURES will be 17 magnificent buildings and 7 villas allowing for the enjoyment of open spaces in between the buildings and villas.  Which at street level both residents and guests will be able to stroll along paths lined with endless possibilities for shopping and leisure as practically every building has retail shops and restaurants on the ground floor level.

Beyond the retail and restaurants there will be four buildings dedicated to offices.  And the nice part of this arrangement will be the easy access to DNT plus convenient access to a truly urban lifestyle.  Overall there will be 980 apartment units in 7 separate buildings of 4, 5 and 10 stories.  In the 10 story buildings, residents will enjoy prestigious comfort and security with access to convenient interior parking facilities.

And of course business guests and travelers visiting The Gate in Frisco desiring Five-Star hotel facilities a 90 room boutique hotel, nestled near the pond area will provide memorable accommodations with VIP amenities and treatment as would be expected.  Those guests wanting a more personalized service there will have 7 (seven) pond-fronting villas that can be rented on a daily basis or beyond accordingly.

On a pure SQUARE FOOTAGE breakout ….. there will be 41 Acres (1,785,960 SF) of prime space along DNT and John Hickman Parkway with 1,212,000 SF of luxury residential space, 854,000 SF of office space, 148,000 SF in hotel space, 54,500 SF in retail space and 47,500 SF in restaurant space.

TAKEAWAY: The Gate when finished will be a testament to IGO’s commitment to deliver property solutions that will become a city landmark for FRISCO.

Frisco Market Statistics – June 2015


Frisco Market Statistics – June 2015 

In the Frisco real estate market, conditions continue to favor sellers, even as more houses become available compared to his time last year. June 2015 found an increase in the number of new listings, active listings and pending listings for single-family homes, according to information from North Texas Real Estate Information Systems.

The 525 new listings in June 2015 represented a 4 percent increase over June 2014. Active listings increased 5 percent to 563 over the same period. Pending listings had a slight jump, with the 366 pending listings in June 2015, indicating a 3 percent increase over June 2014. Actual sales of single-family homes are flat over the same period.

The North Texas State Real Estate Information System reports that in June 2015, a total of 466 single homes were sold in the Frisco area. This represents a 0 percent increase over sales in June 2014.

Prices in the Frisco real estate market continued to climb during that year-long period. The median price of a single-family home in the Frisco area increased 11 percent between June 2014 and June 2015, to $349,900. Average home prices rose 11 percent during that period to $392,713. The dollar volume of sales during the year increased 11 percent. In total, $183,004,258 worth of homes were sold in June 2015.

Homes spend an average of 28 days on the market in Frisco, which is a decrease from the same as in June 2014. Generally high prices, limited availability, and quick sales of those homes that come up for sale make the Frisco real estate market a favorable environment for sellers.

Strong buyer demand has created multiple offers for sellers and low inventory is causing home prices to rise. It’s not uncommon for a seller to get 4 or 5 offers to chose from. Make your first offer the best in order to compete. Many first time home buyers have turned to renting and will wait until the market becomes more balanced. The influx of new companies and people to North Texas is creating unprecedented buyer demand.

See more Frisco Market Statistics Area 55 NTREIS MLS housing activity report here.

Smith & Smith Realty provides expert real estate services to residential buyers and sellers in Frisco and surrounding communities. Contact us today for more information on Frisco real estate and for professional assistance navigating this sometimes complex home market.


Friday’s Fountain


Relax! It’s Friday…

Frisco Fountain

All over the metro area we have our fountains – we don’t have oceans to look at or many lake views in the general area but we have tons of fountains.  Photo above is in Frisco at the Creeks at Stonebriar, right across the street from the country club.  Enjoy the weekend, stay cooler and get the kids ready for school. Open house link has been updated above.

What does a Frisco Foreclosure Kitchen look like?


Too Good to be True?

An Awesome Foreclosure

Frisco_Foreclosure_Kitchen

I bet this isn’t your idea of a foreclosure but it is!  There are a growing number of builders homes that are going into foreclosure.  This one in particular use to be a million dollars, on sale now for $785,000.  Only 2 years new and never been lived in.  The only thing about buying a builders home in foreclosure is there is probably no warranty protection, so in that cause you need to locate the vendors that built the home in the first place just to be covered against possible defects. You never know…

Friday, Foreclosures and Frisco


Foreclosure Madness

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If you frequent this site you know I post foreclosures on Friday.

So in light of the biggest bail out ever, I thought lets change things up a bit. Since there are not that many foreclosures in West Plano – around 15, I’ll add Frisco zip codes 75034 and 75035 to the mix. Can you guess how many?

121 foreclosure listings have been added to the foreclosure file and that is what’s on the MLS –  there are probably more than that. Even though I don’t sell money –  only real estate –  I can tell you the undoings on wall street this week came from banks and institutions not being able to sell real estate.  Perhaps now foreclosure properties will be able to be bought at the correct pricing and conditions.  Better deals for buyers!  It’s certainly time…

3 Day House Sale?


3 Day House Sale?

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If you’ve sold or selling your home you probably know what CSS is.

If you don’t – it’s the Centralized Showing System that schedules all your appointments for other agents to show your home.

They track all your appointments and send auto emails to agents that show your property for instant feedback. (if your agent has that feature set up)

You can also send listing announcements about price changes or circumstances to all the agents that have previously shown your property.

Yesterday, I received an announcement for a 3 Day Sale on a Property in Frisco at one of the Stonebriar communities that, Still hasn’t sold…

It’s like a Macy’s 3 Day Sale! No kidding…

We aren’t selling clothes or appliances here, the sale goes like this: $20,000 will be taken off the list price on Friday, Saturday and Sunday – ONLY!

After that the price goes back up, Does that make you want to buy it?

Don’t you think they will take the $20,000 off after Sunday?

YEP! They will.

Better to go ahead and take another cut and leave it, the more inline the price is the better chances of your home selling quicker. Once you give it up you can’t take it back – be curious to see what kind of signage they have for the event. Sellers and agents are getting very creative now, aren’t they?

America’s Fastest Growing Suburbs – Frisco in Top Ten


Congratulations North Texas!

Dr. Pepper Minor League Ballpark – Frisco

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On the Forbes top 100 fastest growing suburbs, there were 11 N. Texas cities that made the list.

Frisco came in at Number 7 and Wylie Number 8. These two cities are considered close in to Dallas.

Frisco is just north of Plano and is a very vibrant and well planned city, excellent schools – Minor League Ballpark, Stars hockey center, Stonebriar Mall, Stonebriar Golf Course, Country Club and New Homes …yes plenty of new homes.

The only thing that Frisco needs to complete are its roads and highways to support it’s growth – until then you will have to cope with traffic. Here are growth figures for Frisco for the last 6 years:

2000 – 35299
2006 – 80,499

=128% growth in population

As you see the growth has been explosive – and there is still plenty of room to grow – Frisco around highway 121 is only about 30 miles North of Dallas.