Well here is a nice way to start the fresh New Year of 2016: the Mary Kay House on Douglas Road, just north of Northwest Highway on Preston Road, has sold and closed.
Was it a short miracle? You betcha, and Allie Beth Allman’s Karen Luter pulled the magic. How many listing agents has this home had? Let me count the great names… Ebby’s Linda Jordan Hobbs, Myla Patton, great agents all but this property, which was like a pink marble shrine to the late cosmetics icon, had never been touched and was probably one of the most challenging sales in Dallas history! In fact, back in 2009, the mansion was listed with Linda for a whopping $4,995,000!. Myla had it for $5,700,000!
Not only was the sale it a short miracle, it was a short sale! Which is why, when I heard something was working back before the holidays, I was patient and just kept sipping my champagne until the bank and buyers got all the deets ironed out. As you know, and as we have told you, short sales are usually a little more complicated than “normal” real estate transactions because you are dealing with banks, who are highly regulated and have to triple check and get permission for almost everything.
But please note: in 2016, we plan to bring you more news on short sales in Dallas. Yes, they still exist, and yes, we can help you wade through them.
The buyer of the Mary Kay mansion is a local Dallas millionaire, but it is NOT Mark Cuban, I’m told by my sources. (more…)