Lakewood is one of the hottest neighborhoods in Dallas, where home values have held strong and may even be climbing upwards. The editors at Daybreak on Channel 8 specifically asked for homes in a certain price range, like $200,000. Those are hard to find in Lakewood “proper”, where average prices run about $500,000 to $600,000 or more. So I provided homes in the peripheral areas such as hot hot (and affordable) Lochwood, Little Forest Hills, and then one in Forest Hills just because I have a crush on it!
And like Preston Hollow, when a neighborhood gets hot, people start expanding it by grouping together other neighborhoods under the big-draw banner. Look at what is called Preston Hollow today and compare it to what was the Preston Hollow of yesteryear.
Lakewood is a beautiful community, but its the area’s great schools that draw buyers, like Stonewall Jackson Elementary and Woodrow Wilson High School. Here’s some of the info I had that I couldn’t cram into five minutes:
Lakewood was once part of the separate town of East Dallas that was annexed into Dallas in 1890, and the community was formed about 10 years after the city began creating White Rock Lake, (initially as a water supply source) in 1910. The area was named after the lake, as was Lake Highlands to its north, as it hugs the western edge. Most of it was built during the 1920’s, when Dr. W.F. Pearson, who owned a 184 acre tract around the Lakewood Country Club, the city’s second oldest chartered country club, sold the land to developers Albert Dines and Lee R. Kraft. Dines & Kraft were told to do it right, and they did: many of the “Dines and Kraft” homes built in the 1920’s are standing strong today.
These are true Lakewood neighborhoods: Country Club Estates, Westlake Park, and Gastonwood, and they are loaded with homes by Charles Dilbeck, O’Neil Ford, Arch Swank, David Williams, and Donald Barthelme, which gives the area that wonderful mix of style. You get everything from Prairie-Four Squares, English Tudors, and Colonial Revival to French and Spanish Eclectic styles. There are also many early ranch homes, many built of native Austin stone. My favorite street in Dallas is Tokalon, which meanders down to the lake as beautifully as it curves, and don’t get me started on the hills!
Besides great public schools, Lakewood has trendy shops, bars, and restaurants: Mi Cocina is moving in next to the landmark 1938 Lakewood Theater, designed by architect John Eberson and accented by a 100-foot, red, green, and blue Art Deco tower. There’s Penne Pomodora, Times ten Cellars, Whole Foods, everything.
Many people get starter homes in the peripheral areas like Lochwood, Caruth Terrace, Hollywood Heights or the M Streets and then move up to Lakewood when they can. It’s close in, you’ve got the lake, country club, great schools, its Austin in Dallas, said Dave Perry Miller agent Chris Hickman.
And here’s a Scott Jackson listing for $729,000 in Lakewood proper that typifies what Lakewood real estate is all about!