Articles for January, 2009
Let Bernie Madoff Eat Toilet Paper
Zillow reports that teens in Palm Beach, Florida TP’d (that’s toilet-papered) Bernie Madoff’s home — to protest their shrinking trust funds.
Hmmm.
Americans Move West, South
The grass is always greener, it seems, especially in the western and southern U.S. According to a recent Pew Research Center report, almost half of Americans are happy with where they live, half are ready to pack up and go. And where they are going has significance for us — the south, and west.
Victory Update & I Love Condo Life
Condos on the brain ( not condoms): my dear friend Michael Davis at Dallas Progress has some thoughts on Victory Park, which is ironic because I spent this afternoon at One Arts Plaza with Kyle Kearbey shooting video of a gorgeous 2 bedroom unit. This was the first time I have been inside a One Arts unit where I could kick the tires, open the cabinets and drawers. (Well, I only do that in some one’s home behind closed doors!) Am totally in love with the place, and cannot wait to post our video. Know what’s even cooler? Almost every tenant I ran into had a dog. Having been in NYC just two weeks ago, it is great to be up high and admire the view which changes dramatically depending on the direction in Dallas. But Michael is right: we cannot just wait for baby boomers to kick their kids out, then sell their Greenway Park, UP or HP homestead and POUF — move into a downtown condo. We need to get young people down there, and young people cannot afford $400 to $600 per square foot digs. (Not unless they are trust fund babies, what my husband would call members of the Lucky Sperm Club.) Know what else would make downtown hop? A movie theatre, though I’m told they tend to bring on crime when added to a shopping center. Thoughts?
So Whatever Happened To P.M.I???
Did PMI have PMS? I actually had a dream last night about P.M.I. — that is, private mortgage insurance. (The trillion dollar bail-out is so mind-boggling I am dreaming about it.) I recall when we bought our first house we had to buy P.M.I. which was a sort of default insurance that would pay off the mortgage loan in case we didn’t. The bigger our equity has become over the years, the less we have had to pay.
But what about people who bought with zero down? Didn’t they have to pay P.M.I? Or were they, instead, encouraged to get second mortgages so that instead of having an insurance policy on default, they would screw over two banks instead of one?
May I make a modest suggestion: whoever initiated the dumping of P.M.I. helped make a significant contribution to the mortgage crisis and current financial meltdown. Agree?
Green Building Increases In Dallas Exponentially
Just came from the Texas Green Home Summit–which had almost 700 attendees, blowing everyone’s estimates out of the water. Mayor Leppert reaffirmed the City of Dallas’s commitment to green building, both for the health of the universe and for the bottom line. Michelle Russo from McGraw Hill had some great data on how much green building has increased over the last couple of years and how much it’s expected to increase over time (basically becoming the only way to build), as well as what consumers are looking for. (Presentations are expected to be posted on the website.)
But the best news came from someone in the City building department, who told me that permits are UP over the same period last year. Now that’s some good news. Long may it continue.
Shocking News: I’ve Stopped Buying Pillows
My way of cutting back, and I am not alone. My favorite quote from this story on how the Wall Street/financial meltdown has trickled down to hurt the home furnishings industry:
“If you’ve got less in your pocket and you’re worried about putting food on the table, you’re not going to be buying new throw pillows just because Pottery Barn has a new color.”
Or new faucets, or even placemats. Thursday I’m having lunch with someone from our Design District to see what gives in the Dallas design world. Meantime, Gerald Peters is shuttering and Laura Kostelny reports that At My Table in Snider Plaza is calling it quits.
The North Central Expressway Submarket = Sexy
This area, east of Central on Walnut Hill to Greenville Ave., then down to Park Lane, fascinates me and, yes, rather turns me on. Talking real estate. So THR is leasing out one of its buildings, the apartments have been raised and a lot of stuff is going on — tell me more.
Big News Coming Your Way
Hint: a clue can be found in this post….
More On Gerald Peters
Here’s the press release: (more…)
Gerald Peters Gallery Bids Adieu To Design District Location
I received a letter from precious Ashley Tatum at Gerald Peters Gallery, along with a photo of a John Alexander oil on canvas (”Hoo Doo Lake, 1996″) plus a sweet note. Sure I had been in admiring Alexander on at least one occasion. I was curious and had her on my call list — now I know why she contacted me.
This is truly sad, and I can’t help but wonder what will happen to the other art dealers who had conglomerated down to Dragon Street as Dallas was finally beginning to develop a true art center.
Ice Storm
It’s almost time to leave the house, darn it — had such a great time lolling about, getting spooked by the sound of ice chunks sliding down the roof. Question: are you more productive in a condo? That was one of my thoughts this morning — and last night — as I battened down the hatches, made sure the pool was on freeze guard, the outside shower turned off, the garage door sealed, the porch plants covered, the heater on in the plastic greenhouse (oh forgot that one), dogs peed and ice wiped from paws, all doors shut and mental note to have insulation re-done on back door to patio — the seal is like a cold air sieve. Ironically, my ice maker is broken: no margaritas. So here I sit at home, tootling on the computer, drinking coffee, petting the dogs, and I think how much more productive I’d be if I lived in a condo closer to everything. A place where you could just walk — or slide — to work. I think this because we went to the Tate Lecture Series last night and I am concerned over my geographical footprint which must be the size of Bigfoot. After listening attentively to Chris Jordan and admiring his work, I wanted to grab the mike and ask him if we shouldn’t just all give it up. I mean, the only way for us to stop contaminating this world is to stop virtually everything we do, especially living as the way we know it. No more wood floors in our homes — let’s go back to living in caves. No long distance travel, just stay in the tribe. Let de-throned financial types hunt for food (eating only what is in a ten mile radius, though I suppose with accelerated fitness they could dig up Arlington zucchinis). Shut down Whole Foods. Quit trucking in those berries from Mexico, even though they are loaded with anti-oxidants! As for the owners of 10,000 square foot houses, you might as well Photoshop Bigfoot, enlarge and stretch him out over five acres.
Thoughts? �
Highland Park Village Theatre
Kids could have walked to a movie there today — big screen or not!
Fuld’s Wife’s Florida “Bargain”
Great minds think alike, and Diane Tuman over at Zillow reacted the same way I did when we heard ofabout Dick Fuld’s alleged scheme to protect his Florida vacation pad. His $13 million dollar vacation pad. She’s got better pictures.
Highland Park Village Regent’s Theatre Closing?
Please say it is not true! If that theatre closes, I say 10% decline in Highland Park property values… agree????
Bush Permanent Office At Sherry Lane Place
Home of the famous Park Cities Club. His office, I’m told, will be on the 14th floor.
The Bush Office: Temp Digs
Neighbors include Dave Perry-Miller & Associates, Allegiance and CitiBank, Smith Barney (a really great company) at 5950 Berkshire Lane, the temporary office.
Bush Home:Getting Ready For The Gate
Bush gate: in red territory now.
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