University ParkIt’s within walking distance of shopping and SMU, and across the street from McCulloch Middle School, but you’re not going to find this University Park listing from Doris Jacobs in the MLS.

The single-family attached residence at 3456 Granada Avenue is a hip pocket, and a rather luxurious one for being priced well below $1 million. The brick traditional was custom-built and has had only one owner since it was built in 1998.

The three-bedroom, three-and-a-half-bath home has 3,502 square feet of living space, and it’s designed to feel even larger than that, with 10-foot ceilings downstairs, expansive entertaining rooms, gleaming quarter-sawn hardwoods to reflect the natural light coming in from gorgeous windows, and more.  (more…)

3824 Centenary

A recent question in Quora posed, how do you find a home in this tight RE market before it hits the market?

Answer: Christy Berry. Berry tells me she has a hip pocket that is to-die-for great on Centenary in University Park that you might want to take a gander at: five bedrooms, four and a half baths, entertaining space galore and one of the prettiest HP pools I have seen. Asking is $2,349,000.

“The home is not going on the market until next week,” says Christy. “And it’s on one of UP’s most prestigious streets, with a Larry Boerder architectural pedigree.”

There are 5320 square feet of updated finishes with a large, bright kitchen, eat in breakfast area, and spectacular family room. Formals, of course. The second floor has all five bedrooms including the master suite, spa bath and laundry room. French doors open to the back yard, which is turfed, with a brand new pool and outdoor grilling area. There is potential for a finished third level and hence more square footage. This is Centenary: everything is an easy walk to the delights of Preston Center: Sprinkles, Swoozies, R&D Cafe, etc.

Come to think of it, I should buy this house and keep the kitchen pristine white by just dining at R&D every night… think I’d get a discount? Jump for more photos… (more…)

6918 Patricia Avenue

6918 Patricia Ave. (Photos: Shoot2Sell)

My first house, which became my home, is on the market today. It’s a hip pocket the amazing Britt Lopez of Dallas City Center Realtors is handling for me.

I can’t go into detail about how kind Britt Lopez is – I will save that for my book – but know that she is not only a smart, clever Realtor with a sharp mind, but she is a gracious person whose true colors shine ever so brightly.

Britt Lopez

Britt Lopez

6918-patricia-ave-dallas-tx-MLS-3

Originally built in 1938, this Hollywood Heights jewel underwent renovations from 2007 – 2012 which included all new electrical, recessed lighting, hidden speakers in every room, fabulous insulation, a 2012 roof and gutters, a 3-ton Amana furnace and air conditioner (2010), a Rinnai gas tankless water heater (2007), and a Rain Bird programmable sprinkler system (2011). This was no DIY or Home Depot reno.

(more…)

9784-Audubon-HOTWYou know what they need in D.C? A good game of shuffleboard. Let’s get those darn politicos together and see who wins THEN go negotiate the budget. I know you’ve seen this house: it’s the elegant pink-ish red brick number with the huge white columns that make my heart go pitter-pat on almost two and a half acres (2.43 to be exact) at 9784 Audubon Place. That’s that Preston Hollow/Bluffview-ish ‘hood west of Inwood Road known as Sunnybrook Estates, choking with rugged trees and more curves than Marilyn Monroe. Neighbors include Regen Horchow, Lee Roy & Tandy Mitchell, and Robert Wooley and the Daytons. Rachel Dedman is building a massive trophy home on the corner of Park and Sunnybrook. This home at the end of the cul de sac boasts more than 10,000 square feet, and looks very presidential. I know you’ve seen that life-sized bronze statue of the little children playing in the front yard. 

Bad news: that statute stays with the owners, along with a Japanese Maple tree and a couple chandeliers.

9784 Audubon foyer9784 Audubon LR 9784 Audubon DR 9784 Audubon billards 9784 Audubon kit 9784 Audubon bfast 9784 Audubon Fam 9784 Audubon music 9784 Audubon master 9784 Audubon master tub 9784 Audubon master showerGood news: they cannot take the amazing shower and tub in the master spa bath. Or the magnificent woodwork. Owned by Joseph and Holly Hughes — “oil bidness folks” — the home was built in 1963 but completely updated and spiffed to create these gorgeous interiors. You get a bevy of formals plus three places to dine (four if you count the patio), four bedrooms, four full and two half baths, library & billiards room, music room, study, Butler’s pantry, massive laundry room, elevator, three-car garage with sink, plus pool, outside fountain, putting green, and even a private pond on the property.

9784 Audubon pool 9784 Audubon golf 9784 Audubon gate 9784 Audubon grounds9784 Audubon bfast 9784 Audubon game roomAnd, of course, the game room. Perhaps the shuffleboard table will remain?

See why this house is so perfect for politicians? They can while away the whole day and literally putter about, accomplishing nada. Like they usually do!

The asking price is $9,500,000 and the home was listed less than a month ago with Ginger Nobles and Susan Baldwin of Briggs Freeman Sothebys, who get the best houses! The folks at Inwood Mortgage can help you get the best mortgage on this, too, because they keep their portfolios in-house and therefore do not have to jump through as many hoops as most mortgage lenders, meaning this lock-down in D.C. is not hurting them one bit.

So go ahead, let the politicos finish up their game!

7807 Lovers LaneThis is a Caruth Hills hip pocket from Tom Rhodes circa 1945 that won’t be available until December 29, because it is leased, but yowda yowda yowda:  7807 Lovers has two bedrooms, two baths, a study, a tidy 1331 square feet on a 60 by 138 foot lot… oh I can feel the builders rubbing their hands over this one. The backyard has a pool and pergola with some sort of outdoor living space and grill. Yeah, it’s on busy Lover’s Lane but you can get an adjustment for that on your taxes… I’m just saying.

dave-perry-millerCongratulations to Dave Perry-Miller & Associates! Dallas’ biggest boutique real estate firm just closed $1 billion in sales to date in 2013, establishing itself as Dallas’ powerhouse for luxury and niche properties.

“Thanks a billion to our outstanding clients and exceptional team of Associates who helped us reach this exciting milestone,” founder Dave Perry-Miller said in a press release.

What kind of homes will you find in the DPM sales rolls? The highest of high end in the most sought-after neighborhoods including Uptown, the Park Cities, Preston Hollow, East Dallas, and Kessler Park. And the agents at Dave Perry-Miller are hard working, too, with total sales up more than 40 percent since 2012 — an amazing feat.

Purchased by Ebby Halliday Realtors in 2007, Dave Perry-Miller & Associates has a deep pool of resources from which to draw, setting records over the past two years in sales and client satisfaction.

“Our agents are working harder than ever and have made these record-setting months possible,” general manager Bud Bush added. “We are proud to share that each of our five offices had its best months ever, and we are grateful to our Associates and loyal clients.”

We can see that all the hard work is paying off, especially considering that the firm has some fabulous listings right now, including some hip-pocket listings that will make your head spin!

Have a glass of bubbly! You deserve it!

Coming Soon signWell yes, it’s not even mid-April and it’s a mad house out there in the inner-loop real estate world. Sales of pre-owned single-family homes in March rose 22 percent from 2012. 7,483 properties sold. That’s the highest number of home sales since March, 2007.

And we all know what happened after 2007.

Hot discussion Wednesday over at the Oak Lawn MLS, I hear, on Hip Pocket sales. Agents are selling homes off of “Coming Soon” signs. Ever think you’d see the day? Property values are inching up, too. According to the all-knowing Real Estate Center at Texas A&M University, median single-family home sales prices were 8 percent higher last month than in March 2012. We may be feeling real estate rich again: in mid-2007, before the recession hit, median Dallas home sales prices were $168,000.

And of course, everyone is scratching their heads wondering, what the hell happened? As Michael Turner of Classic Urban Homes told me, come January, someone turned on a switch in the real estate market. Dr. James at the Real Estate Center calls it a “double-whammy” —

“Part of the increase is from demand growth, part is from the short inventory of available properties,” said Dr. James Gaines, Real Estate Center economist.

I will add this: low interest rates are helping a whole lot.

Home sales through the MLS are up 19 percent from first quarter of 2012. Folks, that’s almost one-fifth. At the same time, there are fewer homes on the market: total inventory of for-sale homes in North Texas at the end of March was down 22 percent from a year ago. There is about a 3 month inventory, when 6 months is normal.

But the number of homes on the market in the Dallas-Fort Worth area is at the lowest level in more than 20 years, according to the Real Estate Center.

Over at the Ebby Halliday Companies, all-time sales records for both the month of March and the First Quarter of 2013 have been set reaching an all-time high. Closed real estate transactions of more than $550 million in March alone reflect an increase of 47% over March 2012. That’s nearly TWICE the number of sales in 2013 over 2012.

Ebby says closed sales add up to more than $1.1 billion in the first quarter of 2013, an increase of 34% over the first quarter of 2012. There are 1400 Ebby agents, making the firm the largest independent real estate brokerage in North Texas.

You have to wonder: if the market is so strong, interest rates are low and home prices inching north, why aren’t more people listing their home?

Steve Brown posed this question to George DeCourcy, associate director of the real estate program at the University of Texas at Dallas. DeCourcy said it will take more than price increases to cause a big jump in homes on the market.

“Prices have come back, but not like a bull,” DeCourcy said Monday. “People feel there is no compelling reason they should move at these prices.

“I think you will have to see significant move-up from here before people decide to list their homes,” he said.

Also, many homeowners are stuck in rental contracts as they filled their homes to create an income flow a few years back. Some homeowners have refinanced at near record low mortgage rates, and it’s pretty cheap living. If prices escalate, it may not make sense to sell and buy another one, which will be more expensive, too. Then since there is a shortage of homes to buy anyhow, so where will they go?

One group may benefit from this: the downsizers selling large homes and buying less. But again, good luck finding product!

Then there are the Hip Pockets, those private transactions that never go into MLS. Experts are saying that as many as 30% of sales are hip-pocket deals, and I have also heard that’s about the number going at each of the four top brokerages. Talking to Ginger Nobles with Briggs-Freeman Sothebys the other day, she said she has never seen a market like this one.

“I have been in real estate for more than 30 years, and I have seen everything,” says Ginger. “But homes now are selling before you can get them into MLS!”

Agents are even instructing clients not to discuss potential listings they are “eyeing” publicly lest they be swooped up by another agent and buyer. It’s like, mum’s the word until that contract is signed and the ink is dry!

 

 

Coming Soon signWell yes, it’s not even mid-April and it’s a mad house out there in the inner-loop real estate world. Sales of pre-owned single-family homes in March rose 22 percent from 2012. 7,483 properties sold. That’s the highest number of home sales since March, 2007.

And we all know what happened after 2007.

Hot discussion Wednesday over at the Oak Lawn MLS, I hear, on Hip Pocket sales. Agents are selling homes off of “Coming Soon” signs. Ever think you’d see the day? Property values are inching up, too. According to the all-knowing Real Estate Center at Texas A&M University, median single-family home sales prices were 8 percent higher last month than in March 2012. We may be feeling real estate rich again: in mid-2007, before the recession hit, median Dallas home sales prices were $168,000.

And of course, everyone is scratching their heads wondering, what the hell happened? As Michael Turner of Classic Urban Homes told me, come January, someone turned on a switch in the real estate market. Dr. James at the Real Estate Center calls it a “double-whammy” —

“Part of the increase is from demand growth, part is from the short inventory of available properties,” said Dr. James Gaines, Real Estate Center economist.

I will add this: low interest rates are helping a whole lot.

Home sales through the MLS are up 19 percent from first quarter of 2012. Folks, that’s almost one-fifth. At the same time, there are fewer homes on the market: total inventory of for-sale homes in North Texas at the end of March was down 22 percent from a year ago. There is about a 3 month inventory, when 6 months is normal.

But the number of homes on the market in the Dallas-Fort Worth area is at the lowest level in more than 20 years, according to the Real Estate Center.

Over at the Ebby Halliday Companies, all-time sales records for both the month of March and the First Quarter of 2013 have been set reaching an all-time high. Closed real estate transactions of more than $550 million in March alone reflect an increase of 47% over March 2012. That’s nearly TWICE the number of sales in 2013 over 2012.

Ebby says closed sales add up to more than $1.1 billion in the first quarter of 2013, an increase of 34% over the first quarter of 2012. There are 1400 Ebby agents, making the firm the largest independent real estate brokerage in North Texas.

You have to wonder: if the market is so strong, interest rates are low and home prices inching north, why aren’t more people listing their home?

Steve Brown posed this question to George DeCourcy, associate director of the real estate program at the University of Texas at Dallas. DeCourcy said it will take more than price increases to cause a big jump in homes on the market.

“Prices have come back, but not like a bull,” DeCourcy said Monday. “People feel there is no compelling reason they should move at these prices.

“I think you will have to see significant move-up from here before people decide to list their homes,” he said.

Also, many homeowners are stuck in rental contracts as they filled their homes to create an income flow a few years back. Some homeowners have refinanced at near record low mortgage rates, and it’s pretty cheap living. If prices escalate, it may not make sense to sell and buy another one, which will be more expensive, too. Then since there is a shortage of homes to buy anyhow, so where will they go?

One group may benefit from this: the downsizers selling large homes and buying less. But again, good luck finding product!

Then there are the Hip Pockets, those private transactions that never go into MLS. Experts are saying that as many as 30% of sales are hip-pocket deals, and I have also heard that’s about the number going at each of the four top brokerages. Talking to Ginger Nobles with Briggs-Freeman Sothebys the other day, she said she has never seen a market like this one.

“I have been in real estate for more than 30 years, and I have seen everything,” says Ginger. “But homes now are selling before you can get them into MLS!”

Agents are even instructing clients not to discuss potential listings they are “eyeing” publicly lest they be swooped up by another agent and buyer. It’s like, mum’s the word until that contract is signed and the ink is dry!