Real Estate Market News
Well I had an interesting day. Started at the North Dallas MLS Meeting, ended up in court. Seems Dr. Richard Malouf and his wife want a temporary restraining order against me, Byron Harris, WFAA-TV, and Laura Wilson, mother of Owen Wilson, who lives next door to Richard and Leanne. That’s right, they are suing their…
The Medicaid nukes are coming to town from Washington, D.C. to infuse more power into Greg Abbot’s investigation of dental Medicaid fraud, the kind that Byron Harris has brought to the radar. He and other whistleblowers say abusing Medicaid reimbursements helped pediatric dentists like Richard Malouf roll in billions and build enormous homes, buy second…
I spoke to MetroTex Association of Realtors MLS Director Cathy Faulkner yesterday about “Z sales” coming to an end. In the luxury market, “Z sales” gave lofty sales prices a sense of anonymity.
I won’t bore you with the technical details of what a “Z sale” is exactly. Check out this site for a primer on the practice. The gist is this: sellers who were gun shy about disclosing what they paid for a home listed on MLS put a “Z” instead of a big number followed by a lot of zeroes.
Dallas Realtor Jeff Duffey says the death of the practice “will never affect approximately 99% of the real estate market areas throughout North Texas.” However, he estimates roughly 20 percent of the sales in high-end neighborhoods such as the Park Cities, Preston Hollow, and Turtle Creek are “Z sales.”
John and Teresa Amend’s Mount Vernon at 4009 West Lawther Drive was snapped up in this week’s second version of Global Real Estate on Steroids, aka “Mansion” in the Wall Street Journal. You see it on the second page of the special section, then you see it here on the on line report.
So bright and early this morning, I got “McCaa’ed” on Channel 8 — and for once, having a mustache is a good thing! That’s the way WFAA-TV is reminding people that preventive health screening for men is important — and I agree whole heartedly! (Be sure you check the ticker.) Oh, and we also talked…
