Some Preston Hollow East Homeowners Are NOT Saying “No” to the Transwestern Multi-Fam at Preston & Northwest Highway
Charles Sartain, who lives on Northwood and is pretty darn close to the proposed Transwestern development, says in a Letter to the Editor of the Dallas Morning News last week there IS a need for upscale, luxury apartments in the area and he would like to see a traffic study and more information. He also says “no negotiations” are not the prevailing opinions in the neighborhood, which stretches from Hillcrest all the way to the Dallas North Tollway, including homeowners with the ’50′s ranches on Northwood to the tree canopied and creek-lined estates of Old Preston Hollow.
What gives? A reader writes:
Candy,I’ve had a couple of recent broker interactions that I found to be strange, and wonder if you could help me out. The pattern is this: a property in which I’m interested suddenly sports a for sale sign. I call the listing broker… then, I never get a call back. Within a week, the property is sold.
What the heck is going on? Don’t brokers owe a fiduciary duty to their clients to, at the very least, return the phone calls of prospective buyers and test the market? How are they able to identify and recommend a sale to their clients within just a few days of a property being listed when they don’t even respond to indications of interest?
Steve Brown interviewed a cross-section of Realtor buds, from Lydia Player to Robert Kucharski to my buddy Scott Carlson. And what are they saying? Just what we’ve been telling you: house inventory is at a 20 year low, the market is hot, bidding wars on homes that are listed, prices spiking. CoreLogic tells us that in January, cold frigid January, home prices here leapt up 12% over 2013. And here is Steve’s MLS breakdown on the hotness of close-in Dallas ‘hoods:
Let’s just clarify for clarity’s sake: Dallas home prices are breaking records, y’all, and if you want a great home inside the loop, you’re going to pay for it. There was quite a debate in the comments of our Tuesday Two Hundred, a super-cute Craftsman home in Sunset Hill that is priced at $239,000. Some folks felt that was too steep. Others thought the renovation was too modern and not true to the architecture of the home.
Inwood Home of the Week: A Kessler Woods Wonder to Get You Back on That January-Get-Sleek-Diet-Regime Track
I don’t know about you, but this cold yuck just gave me yet another excuse to bake and cook, well, yes,
eat drink. I need to find some homes for diet inspiration! Homes that make me want to jump and move and burn fat!
Is Dallas next?
Gosh, that’s almost a whole work week! According to a study performed by the National Traffic Scorecard, Austin, Texas is the fourth worst city for traffic wait times in the country. It’s even worse than New York City, holding strong at number 5.
We wanted to get some boots-on-the-ground perspective from North Texas Realtors after Forbes named Fort Worth-Arlington and Dallas-Plano-Irving as the top two “best buy cities,” or areas in the U.S. where buying a home is a good investment. Forbes teamed up with Local Market Monitor to measure the “equilibrium home price,” which strips away several layers of market influence such as speculation and the cyclical boom-bust nature of housing.
AA Merger Magic for Our Real Estate Market: US Air Exec Snaps up Sharif & Munir Mansion on Strait Lane
Here is yet another indicator of our hot, hot real estate market even in the double-million dollar price range. And it’s a good example of how our economy is feeding the real estate frenzy for the One Percent. The merger of U.S. Airways with American Airlines has brought a whole slew of high-end buyers to Dallas, and any agent with a home over about five million is polishing up their portfolio. Continue reading
CoreLogic’s newest HPI report released today showed that Texas real estate professionals have good reason to blame their busy days on the hot market. Home prices in Texas are at new highs (yes, higher than pre-bubble manic market highs!), with January 2014 up 10.1 percent over a year ago, and home prices up 1.2 percent from Dec. 2013 (numbers include distressed sales).