Hot News: Guess Whose House This Is???

Answer later in the week…hey hey hey.

More Open House

Yummy kitchen… I’m ready to move in the Williams Sonoma pots and pans.

Open House Today, Palo Pinto

6016 Palo Pinto 1 to 4 pm

RE: Mount Vernon, Former Hunt Estate On White Rock Lake: It’s The Bees Knees

(Comment from faithful Reader:) 

I toured Mount Vernon yesterday and it’s absolutely stunning, timeless, elegant and all that jazz. The bowling alley was the “bees knees” as the kids are saying these days. And the view is just flawless.

Now for the price tag. If it is anywhere near $50 million then Eleanor might as well throw her marketing cash straight down a toilet because that’s all it would be good for. Lets say an acre on White Rock would sell for $2.5 million, and that’s being pretty generous. So for 10 acres that’s $25 million. Is the rest of the house worth $25 million? The main house is about 11,000sf. All the other buildings may bring the total to 25,000sf. (See tax rolls) That comes out to $1,000/sf of living space. Could someone recreate that house for less than $1,000/sf?

I honestly don’t know what they put into the home so I don’t know the answer to that question. I’m sure a builder or developer knows the answer.

Bottom line, I can’t see it selling for over $30 million.

RE: Word Usage, House Porn — Where Did That Term Originate?

This is a response I posted on the D Home Blog to this cute post by our own Christine Lieb, who has BTW a very good eye for cottage porn. But does anyone else know where “House Porn” originated?

Posted on D Home Blog March 28th, 2008 2:04pm by Candy Evans
Filed under Uncategorized

Oh Miss Christine, you are so clever, trying to up your page views by using one of my fave terms. House porn can be clean or dirty, depending on the eye of the beholder. (Like there’s something that turns all of us on, though what turns me on may not waggle your button — I’m totally talking Real estate here.) My my even the W carries JimmyJane products in their squeaky clean minimalistic gift shop. I have been asked where the term originated, my guess is out west, likely LA where all the sins of the world conceive, like unaffordable housing and adjustable rate mortgages, and that Mama at the RealEstalker has something to do with it but gosh, I hate to give her any more press lest she start pickin’ on our Texas hair again. (Don’t touch that link!)

Second Home Sales Accounted For 33% Of All Existing and New Home Sales In 2007

The second home market is not one to sniffle at any longer… I’d give you the link to RealTrends, who has the whole story, but I think it’s membership only. 33% is both investment and vacation type properties.

URGENT: New York Says Texas Home Prices Are Sensible!!!

While most people would rather not sell than lower their standards…er, pricing.

Friday House Porn and (Don’t Faint) Under $200K

This little angel has just been reduced and is looking for someone to love her…

Does This Mean I’m Nuts?

Me along with a whole bunch of Real Estate agents?

Why I Am Happy I Own Property In Texas

Because we are undervalued. Move here one and all, just stay in your (nice, bigger) house and stay off the roads.

I just hope the Appraisal District doesn’t read this. In fact, it’s almost time to get those appraisal letters in the mail, which means tripling up on the Prozac…

House Porn In The Air

From Frontburner….good stuff because you know, just because we fly doesn’t mean we do not deserve the Sherle Wagner faucets, Baccarat fixtures and Donghia leathers….

More Proof That Homeowners Associations Are Dumb

It would probably be cheaper to move.

Ebby Halliday Awarded 79th Linz Award

The Linz Award is one of the oldest and most prestigious civic honors a Dallasite can receive, and today Ebby Halliday joined the ranks of Ray L. Hunt, Raymond Nasher, Robert L. Thornton III, H. Ross Perot, Ralph B. Rogers and 79 years of glittering civic-minded movers and shakers whose community and humanitarian efforts have provided the greatest benefit to our city. I was thrilled when Senator Florence Shapiro introduced Ebby and quoted from the D Magazine story I wrote about her last year, my day with Ebby Halliday that had me begging for a nap while the then 96 year old ran circles around me. Now Ebby is 97, still going more than strong, and today at the Fairmont Hotel wowed the crowd with her humor and punch. When she moved to Dallas in 1938, she said, the population was 285,000. The other day she made a phone call on behalf of one of her agents to a homeowner — the housekeeper answered the phone. Ebby asked to have the homeowner phone her back. When she left her name, the housekeeper exclaimed, “Ebby Halliday, Lordy is she still alive?”

A few other snippets that did not make it into the D story:

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Chicago House Porn

I had no idea Santiago Calatrava designed this gorgeous new tower in my former home town!

RE: Cutting Costs

The floodgates have opened with responses to my post on “Cutting Costs” — this is web journalism at its best! Here’s a telling bit of info:

“I did a search in our MLS of this discount brokerage. Until this week, they have only had one listing (priced under $500,000 and in far north Dallas). This listing is still pending sale and has not actually closed. MLS records show that this company has had no actual sales - ever.

They just picked up a new listing in Rowlett for $227,900. Not exactly moving and shaking things up in our area.”

Now let’s get ready to go see Ebby Halliday receive the Linz Award today at the Fairmont!

Cutting Costs or… Your Own Throat?

I’ve been out of the country but have heard the fury south of the border over an article that appeared in last Friday’s (March 21) edition of Park Cities People. It’s a story, my red-chili pepper hot sources tell me, about a “new” discount brokerage firm, a couple of carpetbaggers who moved to the Park Cities and decided to start their own “full service brokerage” at reduced rates. This firm is charging one percent of the sales price while encouraging sellers to pay the buyer’s agent the standard three percent — for a total sales commission of 4% rather than the standard 6%. Just catching up here from way too many margaritas on the beach, but I have a few comments. More importantly, I welcome your comments. Here’s your chance to rant and rave about this article. (Out of respect for my good agent friends I seem to have developed temporary amnesia and do not know how to link to previously published articles.)

1. This is nothing new, discount brokers are a dime a dozen. People are always trying to snatch Realtor’s hard-earned commissions — few succeed.

2. Sixty Minutes (Leslie Stahl) ran a story about discount brokers last year that ticked off almost every card-carrying member of the NRA. It had about a five minute effect on the industry.

3. What is the name of the “Boutique Agency” that the owner worked for? I want some dirt…

4. The “home that sold within ten days”: how was it priced and who determined that pricing? If I put my house on the market for $100,000 under fair market value, I’m guessing it would sell faster than I run when I hear “free booze.”

5. What legal protections are offered to the sellers in a world where every third person you trip over is an attorney?

6. Help with (among other things) finance sources: the biggest problem with the market today is finding financing — thanks to those sub-prime carpetbaggers who lent money to anyone who could breathe or walk the planet.

7. Does that 1% fee include private security at all open houses, any open houses, freshly baked cookies at every showing, air freshener?

8. Hate to shock you, but many agents out there are already negotiating their fees.

Agents, relax. I interviewed one of the top female bankers in Dallas a few days ago who told me that once upon a time, the internet was going to replace all bankers. Hasn’t happened — if anything, there are more banks now than ever before. There are a lot of companies trying to rain on your parade, but if “much of a person’s personal equity is in their home”, why would that person want to diddle around with their single greatest investment?

Mount Vernon (4009 West Lawther) On The Market

Hot hot scoop, and I’d rather “have a headache” for a year than reveal my sources but one of the best homes in Dallas is on the market for REPORTEDLY (I repeat, reportedly) $50 million. Eleanor Mowery Sheets, not in the MLS. If Dallas had a White House, Mount Vernon would be it. Built in 1930, Mount Vernon — so named because it is a replica of Washington’s home — was purchased by H.L. Hunt in 1937 for $69,000. (Talk about appreciation!) It included ten acres of land and an assortment of animals. Now owned by John and Theresa Amend, who updated the home to more than perfection adding, among other things, a bowling alley and beaucoup updates, it sits right there on White Rock Lake in all it’s glory. Super exclusive listing, super exclusive agent and yes, I did hear the big 5-0.

North Dallas Crime

Well, I guess this means no more snazzy rings and answering the front door with a machete behind my back.

Easter Means Pooch Parade on Turtle Creek!!!

Of course this is Real Estate related, because while you watch the pampered poochies in their Easter bonnets you can shop for condos on what is still the city’s most coveted avenue for high rise living. Don’t miss it — I’ll be there judging! Even better: the great and HILARIOUS Paul J.Williams will be miking it up…I mean, at the mike. Jump for all the info…

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Dirk’s Digs

Have been pulled from the MLS, according to Jeff Duffey. A trick, he says, to hide the sales price. I cannot blame Dirk: if DCAD finds out what a property sold for, they are totally going to slap down that tax bill for that amount. I think our property taxes are way too high in Texas. So remind me, Jeff, to do the exact same thing next time I’m buyin’.

Most Affordable Housing Markets

Also note what we pay for property insurance compared to the rest of the world… but here’s what I don’t get: Miami pays less than we do for property insurance?

The Design District’s New Look

Steve Brown over at the Morning News had a nice overview of the Design District and its changing face in Friday’s paper. I like the once showroom-only area becoming a mix of residential/retail/showrooms/galleries. Kind of like our very own SoHo. The only thing I’m not sure about: renaming the Design District. Lower Oak Lawn? Really? Hmmmm…

So What’s New In Countertops?

This query from a reader— what do you think???

“I thought I read somewhere that granite countertops are going the way of turrets (as you mentioned on DallasDirt) and becoming passé.  Is this true?  And what’s the new hot material for countertops? ”

I’ll tell you one hottie: PEWTER!!! 

DFW Home Prices To Remain Flat

So said the DMN report Friday (while I was in a packing frenzy)— is Steve Brown getting all positive on us????—  by Moody’s. Which is good, because flat is way better than cratering. Interesting down here in Mexico it appears that the whole country is for sale and every SE VENDE sign translates the pesos to U.S. dollars. Yesterday I toured a gorgeous 17th century Colonial mansion, been on market for 3 years for $2 million. Then I toured a small Colonial “fixer-upper” (read: implode it but retain the stone/stucco walls) for $300,000. Tempting. Building costs here are about $100 a square foot. But folks I’ve talked to say that prices here, too, are heading south…

Greetings From San Miguel Allende

How does a Real Estate junkie spend her spring vacation? Home tour the day after arrival, house hunting as soon the maragarita buzz wears off. (Husband very dissappointed.) Deets to come.