1015 Erin Drive

What could be better than growing up in a home you love, and years later returning to that family house as the owner? There’s a lot of satisfaction in coming full circle.

Gary McDonnell grew up in the close-knit neighborhood of Lake Park Estates in this 1950 ranch at 1015 Erin Drive. In 2001 he and his designer wife, Belinda, remodeled the family home into a Texas regional contemporary.

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lake highlands homes for sale

All photos: MetroplexHD

Ready to be impressed? Our Thursday Three Hundred is an noteworthy property, built in 1955 and retaining fabulous reminiscent charm, enhanced by flawless updates.

The Midcentury Modern home at 10116 Woodgrove Dr. in East Dallas’ Lake Highlands Estates is a 3-2 with 1,653 square feet. It’s a beautiful marriage of old and new, from a refinished Terrazzo entry tile to new sliding barn doors in the master suite.

It was listed Feb. 16 by Barbara Arredondo with Clay Stapp + Co. for $389,000. Far out, Daddy-O!

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Old Lake Highlands MidcenturyHome sales in North Texas broke a record last month, with more than 10,500 sold in June, shattering the previous record by 1,000 houses. East Dallas is faring particularly well, with sales up 10 percent from last year, according to the latest sales figures from the MetroTex Association of Realtors.

Today’s Tuesday Two Hundred takes us to a property East of White Rock Lake that helps us understand why homes in the area are selling in 22 days on average. (I’ll bet this one goes under contract even faster than that.)Old Lake Highlands MidcenturyThe Old Lake Highlands midcentury at 703 Kirkwood Dr. is newly listed and sits on a heavily treed corner lot, walking distance from White Rock Lake. It’s a 3-2 with 1,632 square feet, built in 1955 and listed by Jan Chavoya at Ebby Halliday Realtors Frisco for $299,700. (The owners recently updated the electrical panel and security system, too.)

MetroTex reports that the average price now for an East Dallas house is $399,230 (a 19 percent increase over last year), so this is a find at under $300K. Let’s look at the updates and features that make this midcentury house a gem.

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10421 Silverock Front

When some people buy midcentury modern homes, they tend to keep all the things they love about them — the windows, the stone accents, the woodwork — and ditch everything they don’t — kitchens and bathrooms. But there are those homeowners who instead embrace the details and workmanship in these houses. They preserve pretty much everything in them, not just the things that are popular.

10421 Silverock Living

That’s what Adam and Ashlie McGill have done. The only room in 10421 Silverock that they have completely gutted and redone is the master bathroom, and hey, I can understand wanting a retreat, especially one with a walk-in, glass-enclosed shower. In this case, I’m sure the Daltile Gods won’t be offended at the loss of this one bath, especially since there are two more perfectly preserved full baths for you to admire.

10421 Silverock Dining

Let’s talk stats: This Eastwood Estates home has four bedrooms, three-and-a-half baths, 2,583 square feet, and a fantastic family room that you will just die for. This neighborhood is an enclave bound by the creek side of East Lake Highlands, Peavy Road, and Easton Road, and feeds into award-winning Hexter Elementary School.

10421 Silverock Kitchen

These stats and the rad wallpaper in the half bath are reason enough to pay full price for this home, which is marketed at $399,000 by Donald Wright of Gilchrist & Company. Besides that, you’ll have to negotiate all of the cool furniture and art in, too. Especially that Chihuly (-esque?) glass sculpture in the living room, which perfectly accents the high ceilings.

10421 Silverock Family

The home is on a corner lot, so there’s plenty of front yard space and I can say from experience that there’s very little through traffic in this neighborhood. However, the backyard is small, and if you dream of a midcentury modern with a pool, well, you’ll have to keep dreaming.

10421 Silverock Guest Bath

What do you love best about this home?

10421 Silverock Backyard

You remember that adorable three-bedroom at 926 Peavy that Candy loved so much? Well, it sold in a matter of days, just like we said it would. If you feel like you missed out on a great home in a HOT neighborhood, well, homes in the Lake Park Estates area and nearby Ash Creek/Alger Park neighborhood are coming on the market every day.

“Definitely a good forecast for those homes in our area to continue a steady climb upward as we now head into the new year,” said Ebby Halliday Realtors’ Edwina Dye. ” Who would have thought a year ago we would be listing  pre-owned homes facing Peavy Road east of Alger Park for over $347,000?  I have a listing on Peavy that is contract pending, been appraised and due to close in January 2013.”

Dye, who is an expert in all things East Dallas and specializes in the White Rock Lake area, is very optimistic about the enclaves that surround the lake. For good reason, too.

“I recently sold a renovated home in Alger Park that we listed for $254,900. Received multiple offers in two days of listing, sold and appraised for over list price!” Dye said.

Still, some homeowners could be missing the boat on the comparables. According to Dye, several sellers and agents are listing homes much too low. ” This can prove harmful for our appraisals in the 2013 spring market,” she added.

There are lots of great homes on the market in this area, especially this week’s Tuesday $200,000 at 821 Peavy, which is  brand new inside and out. With these outstanding homes on the market in a great, affordable and upwardly mobile neighborhood that feeds into an award-winning elementary school, it’s a sellers market in this enclave of East Dallas!

“I feel as listing agents we have to really believe in our market areas and understand we are once again seeing a sellers market emerging where we may have multiple offers and that our listings can possibly appraise for over list price,” Dye said. “But we can’t be shy about these indicators we are seeing. If we as listing agents can’t be bold enough to believe in a strong sellers market how can we expect anyone else to?”