I pass by this gorgeous, gigantic, classic Tudor at 622 Newell Avenue almost every evening as I walk the dogs. Two years ago I did a staging consultation with the sellers and Cassie Evans wrote about it for the blog, so I was surprised to see it back on the market this week.
You see, people tend to never leave Hollywood Heights. They move, but they move within the neighborhood. For example, both of the neighbors across the street from me have moved to larger homes in the neighborhood. And both of their homes sold within 30 days. A house on Monte Vista listed Saturday and went to contract Monday. This is reflective of what’s happening in general with real estate in our market, but Hollywood Heights, specifically, is hotter than ever.
When I saw the $779,000 price tag on the 2,883-square-foot home, a $189,000 increase from the $590,000 price in 2014, I called Cliff Kessler with Allie Beth Allman who listed it just a few days ago, to figure out exactly what’s up in the ‘hood.
“Hollywood Heights is one of the hottest areas in the city,” Kessler said. “Houses are moving within 30 days and they are listing at between $265 and $280 per square foot with an average of $270, and some selling off market at over $300 per square foot.” Ok. Wow. Just, Wow.
Do the math, that’s astonishing. And fantastic if you’re a seller. In fact, it’s not that bad if you’re a buyer coming from a more expensive market. Preston Hollow residents, for instance, are downsizing and are extremely interested in Hollywood Heights. Then there are the buyers that can’t afford a million plus property in Lakewood that are flocking to Hollywood Heights. Right now there are three — yes, only three, properties for sale in Hollywood Heights.
It’s a great neighborhood. I bought my home in 1990 and you could not pry me out of here. You never have to get on a highway to get to the Dallas Arts District, Victory, or Uptown. White Rock Lake is within biking distance, the Dallas Arboretum is five minutes away and it’s in the Lakewood Elementary School attendance area of Dallas ISD. It’s a little oasis and that’s why none of us leave unless a job change in another state beckons.
On my block alone there are six of us that have been here over 20 years. That’s an attraction as well. When newbies move in, they are warmly welcomed into the fold and Newell is notorious for being the “fun” street. That’s largely because of our social director, Liz Simmons, who is responsible for implementing the notorious Easter Parade as well as Halloween and Christmas street parties. See why we don’t leave?
Back to this fantastic house. Hollywood Heights is known for vintage homes built in the 1920s and 1930s. It’s a Conservation District so there are prudent restrictions. A new home has to conform to historic standards set out by the Landmark Commission, and so do remodels. This 1927 Tudor was renovated in 2007, and an entire second story was added resulting in three bedrooms, three bathrooms and a powder bath. “It has all the bells and whistles,” Kessler said. It’s flawless. Every update you can imagine has been added and it’s on an interior corner lot.”
It has all the charming details that draw buyers to the neighborhood, from vaulted ceilings to stained glass windows. That second story addition means it’s one of the largest homes in the neighborhood, in move-in condition, on the most fun street so if you’d like to live in Hollywood — better move fast!
See it in person tomorrow during the open house from 1 to 3 p.m.