“What’s The GOOD News?” March 2019

1.* CNN Money Magazine named Frisco #1 and Flower Mound #16 on the publication’s annual “Best Places to Live List,” which chooses 50 cities from the country to make the prestigious list. Frisco and Flower Mound are the only two Texas cities to make the list. They said Frisco has, “outstanding public schools – with more than 70 campuses, the Frisco Independent School District has the highest graduation rate of all the cities and towns MONEY evaluated this year.” They said Flower Mound, “has ultra-high school graduation rates, and modest home prices” in addition to plenty of indoor and outdoor activities, including water-skiing, camping, biking, The River Walk, Bottle and Bottega, the newly opened Play Street Museum, and many more.

2.* Recently, we toured some Dallas neighborhoods packed with seven-figure dwellings. Our tour guide was Steve Habgood, managing partner at Hewitt and Habgood Realty Group with Dave Perry Miller Real Estate. Habgood put into words what we were seeing on one luxury lot after another: "There is a lot of wealth in the North Texas region." Habgood showed us one home in Kessler Park. “That is going to be at $1,190,000," Habgood said. It’s not as big of an ask as it looks at first glance. More homes priced a million dollars or more have been selling in DFW in recent years than any other place in the state. “Every home around me has sold for 30 or 40 percent they were originally valued at," said Yogi Patel, who is about to upgrade and can’t wait to price his current residence in University Park between $1.7 million and $1.9 million. He is eager to sell his home because higher dollar homes are spending fewer days on the market, Habgood said. Patel says he is seeing evidence of that all around him. In the last two years combined, 3,716 homes costing a million or more have sold here. That’s a staggering 27.6 percent rise. “The million-plus market has been doing as good or better than all of the other segments in the marketplace," Habgood said.

3.* After living in Flower Mound’s Lakeside DFW area for a couple of weeks, Talitha Ledet noticed something was missing from the development: a grocery store. “I was sitting on my balcony one day and thought, ‘I just need a place here that I can walk to and get coffee, milk, eggs or something simple,’” she said. “I started walking around and talking to my neighbors and learned they felt the same way, too.” Ledet and her husband, Billy, launched The Market at Lakeside to meet those needs. “We carry a lot of the staple products,” she said. “We sell a lot of vegan and plant-based products as well,” Ledet said the specialty market not only attracts the Lakeside DFW residents but also those outside of the Dallas city limits who are looking for local brands. “We are able to bring big-city conveniences to a suburban, smaller storefront and make it easier for our customers so that they don’t have to drive to Dallas to enjoy some of their favorite local brands,” she said.

4.* If you’re a fan of shopping or sleeping, check this out: Dallas-Fort Worth ranks as one of the top metro areas in the U.S. for construction of retail and hotel properties. In the newly released 2019 Construction Outlook from commercial real estate services company JLL, Dallas-Fort Worth appears at No. 3 among U.S. metro areas for the number of hotel rooms set to open this year and at No. 4 for the amount of retail space under construction. According to JLL, 7,454 new hotel rooms — representing 5 percent of the entire national pipeline of lodging — are supposed to be ready this year in DFW. To put that into perspective, that’s equivalent to adding four Sheraton Dallas hotels. As measured by guest rooms, the Sheraton Dallas Hotel is the region’s biggest hotel (1,840 rooms). On the retail front, 3.3 million square feet of space is under construction in DFW, according to JLL. That’s equivalent to adding roughly 18 typical Walmart supercenters.

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