Dallas City Councilman Lee Kleinman finally sold his Hillcrest Estates home Oct. 28, after two agents and almost three years of marketing and just hours before Elite Auctions was set to auction the home with no reserve.

As so often happens with auctions, a buyer came forward at the last minute and signed on the dotted line.

“Everyone is very happy,” says Elite Auctions Marketing Director Alicia Chmielewski. “This was a pre-auction offer, which means the auction actually never took place. When we take on a property to sell, we won’t take it unless we feel we can get a reasonable price for the sellers.”

And they did. The final sales price was … (more…)

Comes word from Elite Auctions Marketing Director Alicia Chmielewski that the no-reserve auction for Dallas City Councilman Lee Kleinman’s home in Hillcrest Estates has been canceled. The no-reserve auction was to take place at 11 a.m. tomorrow, Saturday, Sept. 28.  We are told that a pre-auction offer has been accepted by the sellers, Kleinman and his wife, Dr. Lisa Umholtz.

In fact, the home now shows pending sale status in MLS.

The price on the contract is confidential. All we know is “the price was acceptable to the buyer and seller.” (more…)

Kyle Rovinsky with Coldwell Banker Residential Real Estate has listed 11322 E. Ricks Circle for $4,567,890 – soon to be $3,750,000.

Looking for a contemporary estate in Preston Hollow? This one’s pretty, and it’s about to get even more attractive. There’s a price drop in the air, and listing agent Kyle Rovinsky is dangling it like a carrot. The Coldwell Banker agent originally listed Dallas Council Member Lee Kleinman’s home for $4,567,890 but just alerted us to a price reduction worth over $800,000 for the two-acre creek-side perch on coveted Ricks Circle in Preston Hollow.

“One-acre properties in the area are currently trading for around $1.5 million. This home affords a prime two-acre lot,” Rovinsky said. “So you are paying $3 million for the dirt and $750,000 for the commercial construction,” he explains.

(more…)