Jenni Stolarski has flipped some amazing properties in North Oak Cliff.

Jenni Stolarski has flipped some amazing properties in North Oak Cliff, including this one at 806 N. Windomere.

We were intrigued by a story from Bloomberg News citing RealtyTrac figures reportedly showing a nationwide decrease in flipping:

Home flipping, in which a buyer resells a property quickly for a profit, is on the decline as U.S. residential price gains slow and foreclosures dwindle.
Almost 31,000 single-family houses were flipped in the second quarter, representing 4.6 percent of U.S. home sales, RealtyTrac said in a report today. That’s down from 6.2 percent a year earlier and the smallest share since the first three months of 2012, when prices bottomed after the crash, according to the Irvine, California-based data company, which defines a flip as a property sold within 12 months of purchase.

Of course, I had to consult the two best “flippers” I know to see what the local perspective is on flipping. First I got in touch with Jenni Stolarski of Briggs-Freeman Sotheby’s. Stolarski does high-end flips in Oak Cliff, producing some of the most gorgeous homes I’ve ever seen. One of the most recent ones was an amazing Tudor transformation that was awash in marble and chrome. Total jaw-dropper.

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Home For Sale yard Sign

After living at 7303 Coronado Avenue for 16 years, Karen Nealy decided to try and test the waters to see if she was ready to sell her home in Lakewood Hills. She’s been looking to move closer to the lake, perhaps Rockwall, with plenty of room to roam around.

“We almost bought a house yesterday that we really liked,” Nealy said a week or so ago. That’s what prompted her to “test the waters” and put her three-bedroom, two-bath home on the Lakewood Online Yard Sale Facebook page without the help of a Realtor. Since then she’s put it up as For Sale By Owner on Zillow, advertising the 1,504-square-foot traditional for $299,900.

“We know Realtors can get it out there to more people,” Nealy said, but she is doing a more improvisational trial and error approach to selling her home, which she calls a “fixer-upper.” She thinks it’s a fantastic property to add on to, perhaps for a family that wants to be inside the Lakewood Elementary School attendance zone.

Do-it-yourself listings on social media is a growing trend, but will it end up costing sellers in the long run?

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Lakewood Elementary is a sought-after attendance area within Dallas ISD.

Lakewood Elementary is a sought-after attendance area within Dallas ISD.

A recent column by Heather Wilhelm highlights a huge issue in America: In order to get into a good public school, you often have to spend more on a home. Heck, brokerages have developed search tools to help you focus on the school attendance areas you want, weeding out perfectly good homes that have imperfect schools.

Wilhelm, a political columnist in Austin, dissects the intersection between public education and real estate in her recent Dallas Morning News Op-Ed, “Public Schools — The Craziest Government Program of Them All.” For the most prescient example, look at HPISD and the Lakewood Elementary attendance area.

Read on for more.

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: As DART light-rail arrives at D/FW International Airport on August 18, Ebby Halliday Realtors announces Rail Station Proximity Home Search on ebby.com. (Photo: DART)

As DART light-rail arrives at D/FW International Airport on August 18, Ebby Halliday Realtors announces Rail Station Proximity Home Search on ebby.com. (Photo: DART)

Commuting time is a huge factor for many homebuyers, and mass transit is making strides for people who commute without cars. If you’ve had a hard time deciding on a home due to limited information about trains and buses, your home search just got easier.

The timing is perfect, too, as DART rail reaches from the suburbs to downtown and now to D/FW International Airport so now does Ebby.com deliver a new search feature that can show you great homes for sale that are close to light rail. It’s a popular feature in cities such as Washington, D.C., and Chicago.

“Whether it’s frequent trips to the airport, commuting to your job at the Medical Center, shopping at Mockingbird Station, or enjoying the occasional concert at the American Airlines Center in Victory Park, with ebby.com’s new Rail Station Proximity Home Search you’ll be the first to know about homes for sale – and for lease – near the rail station of your choice,” says Randall Graham, vice president and director of marketing for Ebby Halliday Realtors.

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Home For Sale Sign Dallas

With Texas and Dallas clocking in a small uptick in inventory, everyone’s wondering if we the market is poised to stabilize soon and if our time of scarcity and rising prices is over.

According to the latest report from CoreLogic, not so much.

“Home prices are continuing to rise fueled by ongoing tight supply, low rates, and aggressive investor buying on the East and West Coast,” said President and CEO of CoreLogic Anand Nallathambi. “The expected surge in the number of homes for sale has not materialized to date as many homeowners are staying put and waiting for better economic times and higher prices in the future.”

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Inventory Chart TAR q1 2014

Slow growing inventory is choking sales growth and driving prices up in the Dallas real estate market, with only 2.4 months of inventory in the Dallas market — an increase of 0.2 months from last quarter — according to the latest quarterly report from the Texas Association of Realtors and the Real Estate Center at Texas A&M University.

As a result the median home price in Dallas is up 9.81 percent from the first quarter of 2014, an increase of 6.81 percent from the same time a year ago and the second consecutive quarter our city has seen an increase in home prices. Statewide, inventory grew for the first time in three years, up to 3.6 in the second quarter of 2014 from an all-time low of 3.4 months in the first quarter of this year. Still, inventory is tighter than a pair of skinny jeans after Thanksgiving and continues to pose problems for our market.

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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!

 

Homefacts App Home Page Homefacts App - School Details Page

We love a good app here at CandysDirt, and when RealtyTrac announced their new Homefacts app, we had to give it a test. We’ve reviewed several good real estate apps before, and some of them are great for just run-of-the-mill home shopping (Realtor.com, Zillow, Trulia, and Redfin), some give you a more visual clue on a property ( Doorsteps App), and there’s even an app to see if you can afford a home before you get pre-approved.

But the Homefacts is a horse of a different color. It’s a much more comprehensive real estate app in that it uses GPS data or an address search to dissect areas not by homes for sale, but by other factors that may affect a neighborhood’s desirability, such as relative proximity to convicted sex offenders and former drug labs, school performance, unemployment, crime risk, median home value, and disaster risk.

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