07/29/14 1:48am

SamsCityplaceAccording to Robert Wilonsky, who was at the hearing — and I would have been there, too, had it not been for this Zulia deal — he thought…  

“Judge Phyllis Lister Brown was going to side with the East Village Association and grant their request for a temporary injunction in the case involving the Sam’s Club Trammell Crow Company wants to build in the shadow of Cityplace. She chided the city and Trammell Crow for their “lack of transparency” in zoning documents and notices sent to nearby residents impacted by the Big Box. She made it clear she was unhappy with how the process failed the residents living next to a 150,000-square foot Big Box that will dropped in their proverbial front and back yards. She spoke of having to make a “difficult” decision.”

Yep, been there. That’s how judges operate. You think you have them convinced of the law, and opposing counsel says something, they swing back to the other side. Ultimately Judge Brown said the city had done just enough to force her to deny the residents’ request for a temporary injunction. So Sam’s Club can file for a building permit as early tomorrow. (more…)

07/28/14 11:30pm

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It’s been a day trying to interpret and predict the future of the real estate industry. Good grief! Jeff Farris of BubbleLife Media reminded me that seven years ago, we didn’t have a verb called “google.” I was just getting an iphone. I started a “blob” called DallasDirt!

We think maybe in another five to seven years, we may have a verb called “Zillow” or “Zulia” as in : did you Zillow (or Zulia) that house?

What this means to the real estate industry: Zillow, now married to Trulia with a pretty sizable dowry, will have much more money, efficiency and power than the splintered MLS’s across the country. As Rob Hahn pointed out: they did a $3.5 billion deal that united two real estate giants in 6 WEEKS! Speed kills the competition. (more…)

07/28/14 5:37pm
Crescent Estates, the developer who built the Courtyards at Normandy, will construct an 18-home luxury development on Forest Lane.

Crescent Estates, the developer who built the Courtyards at Normandy, will construct an 18-home luxury development on Forest Lane.

Word comes that the custom home builder that has signed on to build 18 luxury custom homes on the almost 4 acre site on Forest Lane just sold by Unity Church of Dallas is none other than Crescent Estates Custom Homes, the very same developer that built the Courtyards at Normandy in University Park.

The development, which will be called 6600 Forest Estates, was part of the 11-acre Unity Church of Dallas Campus. Charles Hicks, who purchase the property in a deal facilitated by Solender Hall Real Estate, has had the land rezoned for planned development. Crescent Estates is known for European-style homes with top-of-the-line finish-out, including museum-quality interiors, and attention to detail both inside and out. We have a feeling that the homes proposed for the Forest Lane development will be similar in construction if not in style to the Courtyards at Normandy.

We have calls and emails out to Crescent Estates to get the specifics on this luxury home development, so stay tuned!

07/28/14 12:26pm

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Candy already told you about this incredible, game-changing transaction. Of course, Zillow started out with a low-ball offer of $2 billion in stock, but the deal was sealed at $3.5 billion as Zillow acquired Trulia. This transaction will create a Goliath in a market where a new real estate internet start-up crops up seemingly every day.

Trulia shareholders will be getting compensated quite well, as each Trulia share will convert to .444 of a Zillow Class-A share, according to Business Insider. The acquisition will move Zillow head-and-shoulders above its next-closest competitor, Move Inc.’s Realtor.com. Just check out this chart from Inman News:

Zulia Chart Inman News

There are so many questions to answer! I wonder how the ongoing litigation involving Errol Samuelson’s defection from Realtor.com will affect the deal. And what about all of the duplication in talent? Both firms have excellent economists and analysts, so who will stay on? Will Trulia just become a Zillow brand? And what about mobile apps? Will Trulia be nixed? Or will they launch a new one that has access to all of that data?

One thing is for sure: All that data is going to change the way we do real estate. BubbleInfo.com’s Jim Klinge published a piece in BI about this very thing, and it will surely send shivers down the spine of any Realtor:

(more…)

InmanConnect7.11DeidreWPeteFlynn-007We told you this was up last week. Well Inman broke the story this morning with a Tweet I got around 8 a.m. which means it was only 6 a.m. in California. While the John Wiley Price et al arrest of the “Texas Four” is all anyone is talking about at the water cooler today, you might want to shift your radar over to this: (more…)

07/28/14 11:21am
Chrome is in... the bathroom!

Chrome is back, especially in the bathroom, along with oversized tile. (Photo credit: Shoot2Sell)

“Chrome is back in,” says Jeff Dworkin, president of JLD Custom Homes, a CandysDirt.com approved builder. In the past, people wanted polished nickel fixtures and accents in their custom homes, but the trend in 2014 is something shiny and easy to clean – chrome. Custom home buyers these days are looking for homes that are energy efficient and “green,” too. Jeff says JLD builds all their homes to very high standards – Energy Star 3.0 and Green Built Texas, to be specific.

Buyers are also looking for well-laid-out homes, meaning a home that makes the best use of all square footage. “We try to design our homes with as little wasted space as possible,” he says. President of the Dallas Builders Association, Dworkin says buyers are currently looking for custom homes that are transitional — something that bridges the gap between traditional Texas-style brick and the more modern home. There’s no better example than JLD’s newest custom home inside The Enclave on Tucker Street, pictured here.

(more…)

07/28/14 3:28am

7525 Villanova extHere is a celebrity home in Dallas that can be swooped up for a tab bit over one million dollars and is as loaded, if not more so, than it’s pricier brethren. In fact, you had darn well better take a look because… well, because!

First of all, location with a triple capital “L”: Caruth Hills. Yes, you are in Dallas but you are just west of Boedecker and south of Northwest Highway in a quadrant I have christened “Perfection”. Why? Well, think about it: Northpark Mall is almost walking distance (when it’s not 100 degrees out, OK) and if you need to run to Tom Thumb or The Container Store, it’s five minutes. Central is super close, and the Dallas North Tollway is only a little further west. Then there is Preston Center, my favorite intersection in Dallas. Yes, it needs improvements, and they are coming, but Preston Center is home to Sprinkles, R&D (which is basically my second office), Taco Diner, hair salons, Tootsies, retail, Houstons, and we haven’t even yet crossed Preston to the west side. This is an area we are focusing on for a move should we ever sell our fabulous homestead because of the proximity to all highways and Presbyterian Hospital. With apologies to the Walkable Crowd, we still need to get around Dallas in a car, especially if you have a grand baby in East Dallas. (more…)

07/28/14 2:32am

The Terrace

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Recall it was almost one year ago to the day when we heard that all of Kathy Nealy’s financial troubles were the fault of the FBI? We posted photos of a similar Terrace House condo, unit 616, to the one Kathy Nealy lost to tax foreclosure last August — 2323 North Houston, Suite 216. Commenters gave me grief for saying the condo would sell for $300,000 to $350,000.

Well, they still may be right, but it hasn’t sold yet.  A Realist AVM values the two bedroom, two bath unit somewhere between $242,865 and $396,253. (more…)