Just like school children, shades need recesses too.

Don’t let reports of a real estate slowdown (actually more of a return to normalcy) convince you that new homes aren’t being built – especially new, expensive homes. Having toured a few newly built homes listed above $1 million, I am surprised at what’s missing. I’m not talking about mink toilet seats and diamond-studded coffee makers. I mean more pedestrian things.

Here’s my unofficial list of relatively cheap things that should “just be there” in newly constructed homes over $1 million.

Recessed Motorized Shades

I’m nowhere near $1 million and I have motorized shades. Luckily, the original builder put in the necessary ceiling recesses where the shades can be slotted into for a smooth ceiling line. Back in the 1960s when my place was built, those recesses pushed curtain tops up so that light bleeds were minimized and rooms (especially bedrooms) were darker. During my renovation, all I had to do was get electricity up there (fairly easy when the walls are open).

In a new-build home, if the builder isn’t going to install the motorized shades themselves, it’s a pittance to put an electric outlet into window frame recesses. Buyers in this range should be looking for such things.

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1 million

This home on Deloache Avenue in the Sunnybrook Estates neighborhood of Old Preston Hollow is priced at $8.9 million, meaning that the neighborhood is likely one where the median home price is more than $1 million.

As home prices continue to rise, it’s not unusual to see homes that might have been $700,000 to $800,000 a few years ago suddenly come in at a healthy $1 million or more — all over the country.

A new Trulia report analyzed home values nationally and found that the share of single-family homes with $1 million or more asking prices has grown 7.6 percent in the last year alone, and has doubled since 2012. Homes valued at $1 million or more now make up almost 4 percent of all the homes on the market.

“Over the past year, as prices continued to rise, the median home value in more than 100 neighborhoods crossed into $1 million territory,” Felipe Chacón, a housing economist for Trulia’s Housing Economics Research Team, said. “More than 3,000,000 U.S. homes are currently worth $1 million or more.”

Trulia took a look at these million dollar neighborhoods — where rising home values mean that the median home value in a neighborhood is more than $1 million. The report looked at 15,100 neighborhoods, and 838 of them now fit in that category.

But where are those neighborhoods? In short, the bulk of them are not in Texas, which probably is one of the reasons that despite a robust market, you’re still seeing the state as an attractive place to relocate.

About two-thirds of these neighborhoods are in California, where 29 percent of all neighborhoods fit the bill. In San Francisco alone, only 15 neighborhoods have median home values that are below seven figures.

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Pictured: A Work Shop Denver project. The group is currently listing a similar new construction opportunity at 3317 W. 33rd Ave. in Denver, Colorado for $1,100,000.

So you have a million dollars to burn and want to invest in Denver real estate but not sure where to start? You could put an offer in on a chic downtown Denver loft with historic pedigree circa 1905 in the heart of the city. Or you could head east, to Park Hill, for a true walker’s paradise and throw down on a 1940s Mediterranean chock full of elegant upgrades.

But if you’re looking for something brand spanking new, that lets you live your best life a mile high, we suggest pointing your home search west. Nestled deep in West Highland, just minutes from downtown, is a million dollar new construction opportunity that will blow. you. away. (more…)

Hicks 10000HollowWay18L

Walnut Place

And our bud Steve Brown says they are selling like “haute-cakes”, ha ha ha, but in reality the $3 to $4 million plus market is probably the slowest market segment in Dallas, unless you are talking tear downs.

And when it comes to $20 million plus, I mean, how many buyers are out there? Most people would prefer a nice $2 million home and a vacation home.

Five Dallas-area homes are now listed for sale at $20 million or more – the largest number of such elite properties to hit the market.

“You don’t see this many at once, and all of these houses are incredible,” said Dallas property agent Lisa Besserer with Briggs Freeman Sotheby’s International Realty.

Besserer is marketing a $20 million house on Strait Lane in North Dallas.

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$1 million and up gets you a lot of house in Odessa, Texas

$1 million and up gets you a lot of house in Odessa, Texas

Take a peek inside the luxury real estate market in Odessa with these five houses for sale now. For $1 million and up, you get a broad range of options in style and amenities, from double master suites and pool with a swim-up bar, to an oversized four-car garage and a heated and air-conditioned dog house. There’s no skimping in these houses!

Jump over to MidlandDirt.com to read the whole post!

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!

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8538 San Pedro Front Angle

Photos: Shoot2Sell

Drive by this gorgeous modern farmhouse in Forest Hills and try not to fall in love. Chances are, the house is going to win and you’ll fall head over heels for this beauty, which has clean modern lines throughout and stunning custom interiors.

This is, truly, one of those homes where you think “Why on earth would anyone want to sell this beauty?”

The truth of the matter is that the homeowners are selling their dream home kicking and screaming. Their loss could be your gain, and what an amazing gain it could be.

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