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Really nice piece here in the New York Times explains why we are beginning to see home prices creep — I said CREEP — upwards, even in markets like Phoenix and Las Vegas: lack of inventory. It’s a very similar situation here in parts of Dallas, mostly the Park Cities, Preston Hollow, and Lakewood: hip pocket is becoming a mainstream word, as agents clamor for listings. There’s just not enough to go around for several reasons:
Read more on Why Home Prices Are Rebounding in Some Cities: Supply, Supply, Supply…
On the one hand, the story of Museum Tower’s light battle with the Nasher on the front page of the New York Times is pretty damn great publicity if you might be looking to buy a condominium in Dallas. I just got my Local Market Monitor report and once again, Dallas-Fort Worth-Plano rules the roost with positive numbers:
Here’s a home that would have been a great find for that piece in the New York Times on how hot the Dallas Design District has become. Not only are developers building lofts and $5000 a month apartment penthouses in the Dallas Design District, they are also building homes out of warehouse space — luxury homes and studio combos where you can live, work, play, and entertain all in one giant converted warehouse space gone luxe.