Frisco’s Viktor Taushanov, of Globus Realty, will share housing market updates along with news and events in the Frisco and North Dallas market on his upcoming podcast in December.
Frisco, TX—Imagine receiving photos of actual piles of cash when you’ve asked for proof of funding while selling a house. Oddly, this isn’t as unusual as you might think. With the real estate market in North Dallas as hot as it has been, many buyers have taken the request literally.
“When I started in real estate in Bulgaria, it was the same,” said Viktor Taushanov, Founder of Globus Realty. “There was no limit and everyone was buying in cash. The seller and buyer were exchanging the cash in the notary office. I have seen it all.”
Taushanov will be sharing stories like this, along with insider insight on the town and real estate industry, on his Mr. Frisco Realty Show. For several decades, Taushanov, also known as Mr. Frisco, has been selling homes in Bulgaria and the United States.
“People like working with me because I’m customer-service oriented,” he said. “I am not a transaction realtor. Working by referral allows me to maintain a relationship with clients and serve them even after the transaction has closed.”
People tuning into the Mr. Frisco Realty Show podcast should expect information about the Frisco and North Dallas housing market, including news covering the Frisco area on such topics as construction projects, new buildings, art shows, new businesses developments, and events. Taushanov will feature special guests on his podcast as well.
“Frisco has become a business hub, with many business headquarters moving in,” he said. “Developments like The Star and PGA make Frisco desirable and a good place to invest in real estate.”
Taushanov predicts the market will likely stabilize and flatten out within the next 12 months.
“Even if the prices decrease, I don’t expect a crash,” he said. “The housing market is hot, prices are on the rise, and there are multiple offers almost on each listing. Leading economists say it’s not going to crash.”
While there were multiple reasons for the 2007-2008 housing market crash, primary drivers included low down payments, few regulatory restrictions, lack of oversight in underwriting standards, and oversupply. Although far from ideal, today’s real estate market is different in significant ways from the economic climate that led to the Great Recession.
“The main driver for rising prices in the current market is that there is very low supply of homes resulting from a decade of builders underbuilding,” he said. “This was made worse through the pandemic.”
Following the 2007-2008 housing meltdown, lenders tightened their restrictions and imposed stricter mortgage qualifications, which have helped keep buyers stay within their financial means and reduce the risk of foreclosure.
“The high of the buying/selling season is over,” Taushanov said. “This is a strong sellers’ market but not a housing bubble. If you are looking to buy or sell, or just looking for more real estate market insights, give me a call. I am happy to answer any questions you have.”
About Viktor Taushanov: Taushanov grew up in Sofia, the capital of Bulgaria. About 20 years ago, he traveled to the U.S. from Bulgaria with just $50 in his pocket.
“It was a great journey with many ups and downs, but regardless of the hard times I had, I’ve never regretted moving to U.S,” Taushanov said. “If I was to go back in time, I would do it again.”
He ran his own real estate company in Bulgaria before founding Globus Realty in Frisco. Globus Realty has been in business for more than 10 years, and Taushanov’s broker is All City Real Estate. Taushanov has a background as a professional athlete and holds a Bachelor of Science degree in sports coaching.