The Malouf’s bought 10711 Strait Lane four years ago from Comer Cottrell, who had build the house but not completed it. When they got it, the inside was just sheet rock. 15,000 square feet of sheet rock plus a cabana. He hired professional designers to finish it out beautifully, elegantly, and the home was a true showplace, with custom-made beds, furniture, and linens and extravagant chandeliers, trims, and finishes. By 2010, it was a showplace. The Maloufs entertained often, once even flying in a Michael Jackson impersonator from Vegas.

In 2011, they bought 10674 Strait, the house next door, as I’ve told you. He debated what to do with it, as any investor would. Should he remodel and flip it, after all, they got a great price. Sell it to a home builder? Ultimately, he decided to keep the home and connect the two properties, by building a bridge crossover between the two homes which you can see from the street, with a driveway/port-cochere beneath it.

Eureka! 10674 Strait would be his family’s own personal sports world. Just walk there over the driveway.

They started by taking 10674 down to the shell, extending the shell a bit, gutting the downstairs by scooping out living room and dining area all the way to the front door. This was the heart of the home gymnasium: the basketball court is only five feet short of a regulation size court. Perhaps they think Dirk up the street might come over and shoot some hoops. There is a gymnastics floor, a rock-climbing wall, a weight room, an inter-active game-room, they kept the kitchen and breakfast area as a butlers kitchen for parties, and they turned an existing cabana outside into a two-story observatory. A bowling alley is planned on the second floor complete with lounge. The only thing left intact from the original house are two or three bedrooms with baths for guests or family.

And Dr. Malouf contracted it all himself.

Originally, Dr. Malouf wanted to run the giant water slides from the second story windows of the sports complex, maybe even weave them in and out of windows. My my, Der Stuka and Geranimo right there on Strait Lane.

 

I am told this is one of the most unusual homes in Plano. 5212 Blackhawk Drive, Plano, marketed by Sandy Donsky. (Not Scott Vann as I noted earlier, however, he is the brilliant agent who brought the home to my attention!) Custom built in 1989, it is a one owner home with significant upgrades — do not let that ordinary exterior fool you! You get 3549 square feet, five giant bedrooms, four and a half baths, formals, patio, three car garage, huge yard. There is no pool but plenty of room for one. I think the interiors are so lovely, and so different from most of the homes of this baby’s vintage. Here are some of the extras:

  • Pecan hardwood floors. The most beautiful floors I’ve ever seen.
  • Gourmet kitchen.
  • Six-burner Viking gas range.
  • Thermador double ovens.
  • Granite counter tops.
  • Master bathroom recently updated.
  • Carerra marble.
  • Garden tub
  • Master Suite down stairs
  • Guest bedroom downstairs could also be an office.
  • Large room upstairs with its own full bath and walk in closet could be used as a second master, game room, or media room.
  • Backyard large enough to have a pool installed and still have green space left over.
  • Cabana half bath on the back patio.
  • Great location on Old Shepherd Place

The asking price is $519,500.  HOA dues $500 a year. Really interesting to compare this with last Friday’s home.

We are in the process of refinancing and it has been hell. So you can imagine my surprise yesterday when I learned that my very own Congressman, Pete Sessions, along with three other members of Congress, is under investigation for the favorable rates they received from Countrywide Financial Corp., which was a poster child for sub-prime lending. The favorable rates are one thing; I’ll bet these guys also did not have to have the financial proctology exam most borrowers have to go though these days. His press spokesperson says he didn’t know he received below-market rates. You know the first question I ask my darling (he really is) mortgage broker? What’s the rate?

So I’ve started digging on just what Pete bought back in 2007 with this groovy tunes loan from Countrywide, which is now in the B of A portfolio and dragging down B of A’s stock performance, thank you very much. Yes, we are talking 2007 and it was a whole different world. If you were Angelo’s friend, you ruled. I did some light digging and for the life of me, I cannot find any property in Dallas County under Pete’s name this year. Found one under Juanita Diaz, his estranged wife’s name. The couple sold a home on 6/26/2007 at 7535 Benedict Drive in The Cloisters in 2007, and apparently purchased 4657 Chapel Hill on May 23, 2007. DCAD value: $1,242,000, the Sessions paid $1,300,500 and to their credit did not “Z” out the sales price. 

I just want to know where my Congressman lives with the sweetheart deal he got on his home mortgage because we self-employed who have assets and equity are having a devil of a time. His office assures me he still lives in 75206. The home the Sessions sold in The Cloisters was a 3222 square foot home (no pool) valued at $534,000 today, maybe a little less than the value in 2007. 4657 Chapel Hill has 5561 square feet, a pool, all on .95 an acre. According to DCAD, this home is now 100% in Juanita’s name.  

BTW where’s Angelo when you need him? Trying to sell his Thousand Oaks, CA home for $3.4 million.

Former home of Pete Sessions bought with his sweetheart loan?

 

Is still there, on the market, looking mighty pretty. I’ve asked around and cannot count more than three showings since it was listed May 20, 2011, but I put a call into Duke over at Allie Beth Allman to verify. Still listed for $24 million. Still $2281. per square foot. 184 days total on the market, six month point. And now we have Mt. Vernon, priced even higher.