The spec house at 6115 Desco Dr. will look similar to this. Photo courtesy Shoot2Sell.

The spec house at 6115 Desco Dr. will look similar to this, also built by LRO Residential Development.

Spec homes are a sign of strong builder and bank confidence in a market, as they are created without any specific buyer in mind, just the belief that one will be interested once it is completed. The higher the price tag, the higher the stakes.

In our inventory-parched market, homebuilder Les Owens, President of LRO Residential Development, has that confidence in the Dallas market, even at multi-million-dollar levels. He’s starting two spec houses this month, one in Preston Hollow for $3.15 million, and another in Devonshire for $2.2 million.

Both houses are available for customization, but Owens is breaking ground now and says he will complete them in late summer/early fall this year.

As we reported earlier this month, luxury home sales in Dallas-Fort Worth skyrocketed in 2014—those with prices of $1 million and up grew 15 percent year-over-year, the second highest sales volume in Texas (bested only by Houston).

Luxury home sales in DFW represented 1.2 percent of the market, and top-performing luxury brands are seeing more multi million-dollar sales in areas that have strong resale value and high existing demand.

“Established neighborhoods and homes of significance in coveted areas such as Highland Park, Preston Hollow, Greenway Parks, and The Volk Estates are desperately pursued, and the quality of the design continues to be a driving factor,” said Caroline Summers, a Briggs Freeman Sotheby’s agent. Jump to read about the houses and see photos!

(more…)

Photo courtesy Greico Modern Homes

Photo courtesy Greico Modern Homes

The homebuilding market in DFW is super hot, and with a new year comes new trends. Candy already mentioned the emergence of the skullery, but there’s more!



We’ve asked the best and brightest North Texas homebuilders to look into their crystal balls and make predictions about homebuilding trends for 2015. They’ve also given us some sublime photos that illustrate those trends in action in their own work. You won’t want to miss this—jump to read the whole story!

(more…)

I feel like a proud parent. I watched this home being built in 2008. Now 4327 Bluffview Blvd. is all grown up and ready for — I cannot believe this — a second family. How fast they grow, or rather, go! This is one of Kim Schlegel Whitman’s stunningly smooth contemporaries she was designing and building with hubby Justin across town until, well, until the economy came to a screeching halt. (Was talking to a builder tonight, he called himself and the handful of builders in this town still hammering “Survivors.”) First of all, we are in Bluffview, probably the most sought-after neighborhood in Dallas, super agent Becky Frey tells me. The empty nesters are flocking to Bluffview like a Birkin sale, shedding those larger homes and lots. This home has a .35 acre lot loaded with trees on a great block. Four bedrooms, three and a half baths, 4482 square feet, perfectly sized. Downstairs master suite has a huge flagstone patio and covered porch.

There is also a dramatic 50 foot plus great room with 12 foot ceilings enclosed by a whole wall of glass — get out the Windex! Also upstairs game room and a covered porch. Reduced from $1,299,000 to $1,195,000 and listed with Bill Griffin. Love love love this house. Want it. I’m in LOVE!