08/24/16 12:52pm
recession

Minorities were hit the hardest by the housing crisis, and show lower levels of homeownership today.

The economic recession of 2007-2009 affected most Americans in depressingly real and tangible ways. Two groups of Americans are disproportionately affected, still, by the downturn.

A new study by Apartment List shows that the economic downturn had the greatest impact on homeownership among minorities and young Americans aged 18-45, particularly those in the 35-44 age range.

Analysts at Apartment List, an apartment location website, looked at Census data and reported U.S. homeownership rates in general have fallen steadily, recently dropping to their lowest levels since 1965.

In Dallas, the homeownership rate fell from 60.9 percent to 58.7 percent from 2007-2016. The drops were biggest among African Americans, where homeownership fell by 6.1 percent.

“African Americans were highly affected [by the recession], said said Andrew Woo, director of data science and growth at Apartment List. “In Dallas, it is a large drop [in homeownership], larger than the nation average, which is 5.3 percent. What we notice is that it’s very much tied to employment and socioeconomic trends.”

During this same time period, rents increased by 4.2 percent in Dallas, even as owner costs (mortgage, maintenance, etc.) fell by 11.8 percent. So the people least able to afford it were paying more (in rent), less able to save toward a down payment, and therefore less likely to buy a home.

(more…)

08/24/16 9:32am

5726 Vickery blvd ext

Steve Holy’s breakout hit, “Good Morning Beautiful,” stood atop the country charts for five straight weeks in 2002, sparking a  fire that has continued to smolder throughout his decade-long career.

It also sparked the inspiration for  some major real estate. Check out this precious New Orleans style colonial at 5726 Vickery in lower Greenville. Built in 2003, it has three bedrooms, three full and two half bathrooms, and was Holy’s first grand house after he hit the country charts.

Steve Holy

The Dallas born country star had held tight from his first big break in 1993, when he beat out 500 hopefuls in the Dallas-Fort Worth area Johnnie High Country Review, the same contest that launched the career of LeAnn Rimes. After his break in Dallasdeal he signed with Curb Records. Three years later in 2000, his debut album, Blue Moon, was released.

Three years later, this house was produced. Perfect for a bachelor or a family of four, the home is uber walkable to lower Greenville Avenue and Robert E. Lee Elementary School and the pre-kindergarten program, .02 miles away. Walk your child to school as often as you’d like!

5726 Vickery blvd porch

(more…)

08/24/16 8:32am

Candy in chair Kent Barker photo

The Metro North division of the Dallas Builders Association is hosting our dear publisher, Candy Evans, for a luncheon today followed by an interesting and fun talk on real estate blogging. If you’ve never seen Candy in person, today’s your chance to hear all of the great dirt on Dallas real estate!

We at CandysDirt.com are asked quite frequently about how real estate professionals should go about blogging on their own website. Here’s a chance to hear how to make blogging work for your real estate brand and more! Online registrations for today’s luncheon have closed, but you can still attend the 11:30 a.m. event at the Hilton Garden Inn (1001 West President George Bush Turnpike, Richardson, 75080).

Tickets at the door are $15 for Dallas Builders Association builders and $22 for associates and non-members. The program starts promptly at noon, so don’t miss out!

10551 Silverock HCHOTW

In 1962, Clint Murchison Jr. still owned the Dallas Cowboys, who still played in the Cotton Bowl in Fair Park with Tom Landry at the helm. Don Meredith was quarterback, and Pettis Norman was tight end. In that same year, this house in Lochwood was built.

Now decades later, these men are all household names here in Dallas, holding close the history of our city as it has gone through hills and valleys, good days and bad. And now, in our city’s own real estate renaissance, the midcentury moderns and early soft contemporaries of Lochwood are coming back into their own, too.

This neighborhood has seen home prices skyrocket, and with those increasing values, more and more investors are buying up these fantastic homes that were built in those halcyon days of Dallas and putting the polish on them that they deserve, like this Lochwood home listed by David Griffin & Company Realtor David Collier. With those cool windows, on-trend modern house numbers, and sparkling paint job, it’s no wonder that this home is our High Caliber Home of the week sponsored by Lisa Peters at Caliber Home Loans. Don’t let this great opportunity to live in a hot East Dallas neighborhood pass you by — get pre-approved and ready to put in your highest and best offer by calling Lisa Peters at Caliber Home Loans today.

Lochwood 10551 Silverock Front Porch

Jump to see the gorgeous interiors and fab floor plan of this stellar split-level in Lochwood!

(more…)

08/24/16 2:05am

 

marisa-seloff-hottest-photos-1

Marisa Seloff

Houston real estate agent Kayla Marisa Seloff may be an inactive agent, but she was very active recently in a Friendswood listing she claims she sold. Seloff, age 22, and a 27-year-old guy named Joshua Leal, were caught having what police called a “passionate rendezvous” in a home in the 200 block of East Castle Harbour Drive, according to numerous Houston media reports.

Well, we know that is.

They were arrested after a neighbor noticed people entering the home about 5 a.m., with a flashlight.

Early birds catch the worm!

Then the duo lied to the police:

When police arrived, they saw a man and woman lying on the floor in a “passionate rendezvous,” according to KXAN-TV. Police entered the home in the 200 block of East Castle Harbour Drive through an unlocked front door, and the couple initially hid. Seloff eventually told police she and Leal were married and had bought the home the day before.

But then police found and smelled marijuana in their car. The couple were charged with criminal trespassing and arrested. Eventually Seloff admitted the drugs were hers, and that she was the home’s real estate agent, not owner.

What I do not understand, however, is how Seloff was working on an expired license…

Have you ever encountered an agent having a “passionate rendezvous” in a listing? (How embarrassing…)

920x920

08/24/16 1:07am

11627 Forest Creek Place ext

An “O” House is a home so fabulous you have to drop whatever you are doing (yeah, even that) or holding, including your nail file, to look!

I am sort of on a roll here with doctor’s houses. “O”h my; another physician’s dream castle. The compulsion to building perfection here is almost Freudian.

Well of course it is, this is an “O” home. The Bionic Alpine “O” home.

11627 Forest Creek Place is located in a leafy, cul-de-sac laden neighborhood of circa 1970 homes south of Forest Lane, in-between Preston and Hillcrest. There is a bounty of building going on across the street from this area, and Sharif-Munir has all but sold out Iris Hollow. Centurion American is developing more lots to the west of Iris Hollow. The prices are around $700K for a quarter of an acre of raw land. Come 2020, there will not be a blade of grass in this area to build on: everything will have to be re-developed.

Talk about wildlife: Lee Kleinman and his Wildebeast are your city council reps. And the coyotes roam nightly.

Forest Creek Place foyer

(more…)

08/23/16 11:29pm

Tiffinni Young

Matisha Ward is the daughter of Antoinette Brown, the poor woman who was mauled to death in the city of Dallas by a pack of wild dogs in south Dallas last May 9. While her poor mother was on life support, Dallas City Councilwoman Tiffini Young, who represents the Fair park neighborhood, contacted her and apparently tried to solicit business for an attorney friend by encouraging Ms. Ward to sue the city of Dallas. 

Brett Shipp reported on WFAA-TV that the lawyer she introduced Ms. Ward to, Chris Chestnut, is a college friend of Young’s. He also reports that Ms. Ward recorded the entire conversation.

But today the Dallas lawyer Ms. Ward hired, Tom Carse, filed suit against the City Councilwoman and Chestnut (who practices in Atlanta and Florida, where he has been reprimanded by the state bar) for “barratry and solicitation of professional employment.” Barratry is a third degree felony in Texas. She is seeking half a million in damages.

She is also considering suing the city of Dallas. Guess Young put the bug in her ear.

“When Mrs. Ward said ‘I’ve talked to a lawyer’ and when the response was ‘call me,’ as opposed to, ‘I wish you the best,’ and drop it, Young didn’t drop it,” Carse said.

Chestnut told News 8 neither he nor Young did anything wrong. “I perceive it as Ms. Young trying to help a constituent who just lost her mom tragically in a horrific death,” Chestnut said when reached about the allegations. “She was just following up with the lady to see if I could help.”

Young told News 8 she was only trying to help Ward and even assisted her in setting up a Go Fund Me page to help pay for her mother’s funeral.

By suing the city of Dallas. Lets see, half a million dollars… that’s 11 years of a new hire police rookie for 11 years.

From Tiffinni Young’s City Council profile:

Ms. Young was appointed to serve on the inaugural City of Dallas Youth Commission in 1994 and later appointed to the Park & Recreation Board to represent District 4 and District 7, respectively. The values instilled in her by her family and her faith, her love of community and passion for people led her to enlarge her commitment of service and run for public office. Councilwoman Young was elected to the Dallas City Council in June 2015, as the District 7 representative.

She continues to serve throughout her community as an active member of the Dallas Alumnae Chapter of Delta Sigma Theta Sorority, Inc. and as a board member for the Maurine F. Bailey Cultural Foundation. She currently is the CEO of a consulting practice focused in the areas of entertainment, sports and politics. Her dedication to community and compassion for people has shaped her call and commitment to make Dallas a better city, Texas a better state and our country the best it can be, one person at a time.

Or maybe it’s one lawsuit at a time?

08/23/16 1:16pm
PD-15 v3 Small Colored Labels

Boundaries of PD-15

Forget the plan the Preston Center Task Force is cooking up.  Last night it was disclosed that owners of the Diplomat and Royal Orleans condominiums have voted unanimously to accept an offer to sell their complexes to a developer. The identity of the buyer and the development plans are unknown (by me).

Depending on the development details, I for one, welcome the move to bring new blood and new building to the area. Here’s hoping for an architecturally interesting building that’s not a typical Mediterranean riff with terra cotta colored stucco and a splash of stone – that, I will fight.

Apartments or condos?  It’s 2016, so of course it will start out as apartments.  But it’s up to neighbors to ensure quality construction so that the eventual condo conversion can be done with a quality product.

(more…)