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Dallas Best Market For Real Estate Investing: SimplifyEm

So reports the Dallas Business Journal today, quoting Dallas-based HomeVestors of America, Inc. — the people behind the “We Buy Ugly Houses” slogan/signs. (So tempting to carry those in the back of my car!) I have heard this from others outside the state, including Narinder Sandhu, President/Founder of TreXglobal. Narinder, a Silicon Valley software engineer, was a VP at Intuit responsible for product strategy and development for Intuit’s payroll biz –one of their fastest-growing segments, he says. Narinder’s company, TreXglobal.com, has created a fabulous software program in SimplifyEm.com to save property owners hours of book-keeping headaches. (Let’s face it, when you own rental units as opposed to stocks, you don’t have to help foot the bill for the company’s $400,000 retreat prior to the stock’s flush down the commode.) Narinder, who owns rental properties in Dallas, says we have become a Real Estate darling for investors who are pulling out of places like Phoenix, Vegas and Florida… or who (whoops) maybe got burned there. In any case, his program makes it easy-peasy to track expenses. Easier even than Quicken. (Way easier than Quickbooks.) Takes less than a minute to set up and come tax time, just click and print off that schedule E.

Since I have investment properties, I am going to try SimplifyEm.com and will soon offer a review.

Jonas Woods W Condo Sales Price

As you know, Texas is an undisclosed sales price state. But a little birdie in the know tells me the 9285 square foot unit sold for $5.8 million. Impressive reduction, but still a great net. Carolyn Shamis brought the buyer (name not yet know, stay tuned) and here’s how she did it: Carolyn heard that another agent was looking for a home for a client in Preston Hollow with land, tennis court and pool. In other words, a spread. She got on a program “where you can look at people’s backyards,” she told me, and narrowed the search down to 12 properties with the necessary criteria. Then she wrote nice letters to all twelve of those estate owners: “Dear Trophy Property Owner, I have a bazillionaire client seeking a multi-acre estate in your beautiful area up to $15 million who wishes to pay cash. Don’t be an idiot, Wall Street melted, call me.” She sent the letter out Monday, got some downright nasty responses by Friday. (“How dare you contact me! My estate is NOT for sale.”) But on Saturday — and these stories are literally why I wake up in the morning — she gets an email from one of the twelve letters who ended up being the buyer of Woods’ penthouse. And by the way, that W pad is now this buyer’s weekend home.

$9 Million Penthouse Sale at The W: Adios, Jonas Woods

His 11,000 square foot penthouse (listing link no longer works) closed September 24, was on market 232 days, last list price $9,950,000, sales price undisclosed, listing agent Allie Beth Allman, Carolyn Shamis brought the buyer. 

AIG Exec Pays $3.5 Million Cash For Manhattan Apartment

This a recently retired executive VP, sale coming eight days after $85 billion bailout. 

Lehman Boys Not Too Shabby In Real Estate

Question: will their capital gains profits on these sales go directly to federal tax revenue or… will they just re-invest in another mansion beach home ski villa penthouse house?

Terrell Owens Owns $2.5 Million In Dallas Real Estate

I knew he had two units at the Azure, didn’t know about the townhouses near Fair Park. His FA, Jeff Rubin, says it’s all investment property (even, we presume, his Azure units). You go, T.O, but be careful. Ask me today if I’d rather have $35,000 in Dallas Real Estate or 500 shares of AIG, guess what the answer is.

AIA Dallas 2008 Design Awards

The architecture world gave major kudos to a handful of hot Dallas architects last month for humanism, sustainabilty and simplicity at the 41st annual AIA design awards. Names recognized — Ron Wommack, Gary Cunningham and The Joule Hotel:

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Downtown Condo Gossip/Update

I was treated last night to the opening of the Dallas Center for Architecture at 1909 Woodall Rogers, a new central HQ to support architects, allied organizations and disciplines, and engage the public in learning more about the plethora of talent this city holds when it comes to architectural design. The center is beautiful. I also had the chance to speak with two architects working on two major downtown condo developments that many say are lagging. Given the nature of our economic climate the last two weeks, I had to ask them about progress or lack thereof. Good news: Museum Tower just made another residential unit sale, buyer met with the architect recently: MT is plowing ahead. As for the Stoneleigh, word is that the hotel was so successful and overfloweth so much they need the parking garage to be done STAT — so all hands on deck are finishing the parking garage, then going back to complete the Stoneleigh Heritage.

D Home Most Beautiful Home In October Architectural Digest

We here at D Home do have good taste, if I may say so myself. Which is why I was not at all surprised to crack open my October Architectural Digest and see a beautiful story on John and Jennifer Eagle’s home, 5243 Park Lane, designed by architect Edward Durell Stone and recently resurrected by Russell Buchanan and David Cadwallader. It’s named as one of our Ten Most Beautiful Homes In Dallas. If you’ve got the October, 2008 AD issue and September DH, check it out… Meantime, I’m going to put a call through to Robert and Jan Crandall, former 5243 Park owners, and see what they think of the article.