The luxury housing market in Dallas is hotter than a pistol. According to the 2017 Texas Luxury Home Sales Report released by the Texas Association of Realtors, luxury home sales jumped almost 20% in 2017 with a total sales dollar volume of 7.5 billion.
From October 2016 to November 2017, Texas luxury home sales jumped to 4,622 sales, making luxury home sales the smallest but fastest-growing segment of the Texas housing market in 2017.
So, you should not be surprised that our Inwood Home of the Week, a gorgeous modern Italian Renaissance at 3428 Purdue Avenue in University Park, is already under an active option contract. Regardless, we had to show it to you, because it’s indicative of what is flying off the market and why.
Open houses are a wonderful opportunity to explore new neighborhoods and see the huge variety of houses on the North Texas market now.
We’ve done some of the legwork for you with our CandysDirt.com Open Houses of the Week. Every Thursday, we pick three fabulous open houses in Dallas (and the ‘burbs from time to time) you shouldn’t miss.
This week, our houses range in price from $500,000 to $1.125 million. Which one is your favorite?
When a master bathroom renovation shows off its best side, buyers take note. This precious commodity can seriously speed up the sale of a house.
We’re betting that buyers will love the master bath of our Thursday Three Hundred, where all of the elements work together harmoniously to create something unexpectedly special. Carrara Marble? Check. Frameless glass shower? Check. Sliding rustic wood barn doors? Check. It offers on-trend and timeless elements at the same time.
Pulling back the camera, what’s not to love about the entire Old Lake Highlands modern cottage at 563 Hambrick Rd.? It has three bedrooms, two bathrooms, and 1,408 square feet on one story, built in 1951. A few more updates: new low-E double pane windows, open concept floorplan, Nest thermostat, tankless water heater, recessed LED lighting, and refinished hardwood floors throughout.
There’s an open house this Sunday, Feb. 25, from 1-3 p.m. Join me for a look around beforehand.
Come March, a unique East Texas property will be available via auction, which is quickly becoming the best way to pick up big, beautiful real estate. The iconic Timber Creek Ranch in Winnsboro is up for auction, and CandysDirt.com is hosting a pre-auction preview and barbecue there this Saturday, February 24, from 11 a.m. to 2 p.m. It may be your only chance to see 428 acres of pure heaven.
I know we say this all the time, but this truly is one of the finest ranches in Texas. And one of the few with full lake access.
“Timber Creek Ranch ranks among the finest working and recreational ranches in Texas, and its lake frontage is especially unique,” says Kyle Crews, Executive Vice President of Allie Beth Allman & Associates.
Can we talk about spite? Is there anything better than the cleansing action of doing something spiteful to someone who is just really chafing you in the britches area?
No. No there is not. Yeah, yeah, turn the other cheek, but let’s face it, spite is natural. Spite is fun. Spite is best when it’s one on one. (more…)
On a day-to-day basis, there are two things that make me happy: a glass of good prosecco and Realtors that are genuinely jazzed about their listings. And I know when I choose a property represented by David Griffin & Company agent Sam Saladino, I will always get the latter. And there’s plenty to be excited about with his new listing at 5304 Livingston in West Highland Park, making it a shoo-in for this week’s High Caliber Home of the Week presented by Lisa Peters of Caliber Home Loans.
“From the moment you step onto the sidewalk, the house exterior and landscape welcomes you in a way reminiscent of post-World War II optimism, and the beginnings of the sophisticated suburban lifestyle,” Saladino said. “Classic brick, shutters, huge picture windows, and shake shingles combined for a restrained, cultivated exterior devoid of tension. Everything is ordered, balanced, in its place.”
Of course, once inside, you start to notice that there’s a level of taste and adventure that is irresistible!
Proposed East Dallas-Oak Lawn Delayed Demolition Overlay (abuts downtown DDO to the south)
Last (stormy) night I attended the only community meeting to discuss the planned Delayed Demolition Overlay that is essentially bordered by the Tollway, Highland Park, Haskell, and Matilda. The East Dallas-Oak Lawn DDO would be Dallas’ third.
This third proposed DDO covers some 15,000 parcels of land. Between this and the downtown DDO, much of the Oak Lawn Committee area of PD-193 would be covered (for what it’s worth).
What’s a Delayed Demolition Overlay (DDO)?
Delayed Demolition Overlays are areas of the city that contain at least some historic properties worth preserving. The first is essentially downtown including parts of Uptown. It was created via city ordinance in 2015 after the Joule Hotel developer demolished historic structures without warning. The preservationists went bonkers and Dallas City Council created the legislation needed to create a DDO. The second DDO is in the Bishop Arts area with enlargement planned.
Kelly, Candy, and Champion’s Linda Chase
I spent a minute or two at Champions School of Real Estate a couple weeks ago, crashing favored teacher Kelly Logsdon Rush’s stuffed-to-the-gill Real Estate Investment class. Why? She had two fabulous guest speakers: Mark Bloom, owner of NetWorth Realty (what they call a wholesaler, he has offices in 19 cities) and Rob Barney, owner of DHLC Investments, who has loaned more than $130 million to investors. It’s what they call hard money lending, meant for a quick turnaround.
I picked up some tips for us on how to scout for value properties — go to the foreclosure sales, drive neighborhoods looking for dilapidated homes, check the city’s list of code violation citations. A few years ago I was interviewed by one of the local stations, and I said you can find homes sometimes by looking for the wheelchair ramps. Man, did I get flack for that (“insensitive!”) but man, was I right.
Kelly has been teaching this class at Champions for twelve years. She is also a seasoned, licensed agent with Ebby Halliday. And she really knows her stuff. 30 to 40 percent of her clients are investors, and the properties she is involved with market for less time, and fetch higher prices. She has been helping investors flip homes for more than 20 years, so you can see why she teaches it. A few years ago, I needed to get my condo leased lest I bleed reams of cash, and Kelly got it occupied in about two weeks, covering everything from the lease to the pretty towels she hung in the kitchen.
Kelly’s three basic principles of real estate investment are: (more…)