D

Paul McCartney Talked To Me Last Night About Dallas Real Estate

Well, in my head he did. Through his music. (Full disclosure: I emailed Live Nation last week to get an interview with Paul, never heard back. Told them we could talk “flats”.) But I think he liked Dallas, our energy, and our insistence at last night’s concert that he give three encores, which he ever so graciously did. But if Paul McCartney ever decided to move to Dallas, I think  Braden Power’s sexy home at 3816 Turtle Creek Drive would be the one. The two kitchens would be quite helpful for partying and late night, post-concert snacks, he’d think about Linda in the spa off the sweet master suite, write songs on the piano in the library, lyrics inspired by the black swans on Turtle Creek, and that gigunda master closet would hold all the guitars and the ukulele George Harrison gave him. But best of all, that pool in the foyer would sure keep Heather Mills out of his house and might even deter requests for increased alimony. Oh by the way, 3816 Turtle Creek is listed this week with Dave Perry-Miller at $7,900,000.

D Sale Of The Week: This House Is Ready To Rock And Roll And Deal

At last, the long-awaited The House by Starck and Yoo at Victory Park is complete and ready for move-in. This is Victory’s final and most dramatic chapter, at least for a while. Yes, it’s another high-rise condo—with 28 stories of units to sell—but this one boasts the whimsical influence of Philippe Starck, including a white-draped lobby with a huge, gleaming, silver mailbox cluster that is reminiscent of school lockers, but the whole unit is on legs. Plus, the pool deck is one of the most glorious I’ve seen. This is going to be what we called a “meat market” when I was single. You won’t dare appear up here without plenty of lipo, though the broad lounge cushions may camo the cellulite. But here’s the best part: broker David Griffin says the Germans mean business. (The German real estate fund US Treuhand has taken the reins of Victory and hence is selling these units.) They are ready to cut a deal, which means you can own a house at The House for less than $400,000—one bedroom, one-and-a-half bath, about 1,000 square feet—with an impressive finish-out with a European feel and generous closets. The building amentities will spoil, from the work-out room to the apartment for overnight guests. As for financing, well, just how deep are those pockets? Let’s make a deal.

Dallas Realtor Rogers Healy Gives Comfort To Britney Spears

When the starlet is unhappy or distressed, she always seems to find comfort in Healy’s tee shirts.

D Sale Of The Week: A Lease, Actually, With 50-Yard-Line Bonus

D Sale this week is a lease deal so good I just had to spill the beans. The home is a trumped and tricked unit at The Vendome on Turtle Creek Blvd., just under 2,000 square feet, on the 15th floor with glorious views of the city overlooking Lee Park. The two bedroom, three and a half bath sky home is currently being leased by uber radio personality Ron Chapman and beautiful wife, Nance. (No, you don’t get to move in with the Chapmans.) The Chapmans have purchased a home in Dallas, have one year left on their lease and want to sublease this unit. And here’s the great deal: they are willing to take a major hit on their lease, offering this baby up for $4500 per month for a year. That includes all HOA dues and tips — the Vendome has a no-tipping policy for it’s beyond superb valet and delivery services. You cannot get a better address on Turtle Creek. You get quite simply everything — even, for those who need them, “mistress elevators” or so urban legend claims.

Now about that 50-yard bonus. The Chapmans own seats at the new Cowboys Stadium on the 50 yard line. They are offering two tickets to one Cowboys game to the realtor or agent who brings them a qualified tenant who fulfills the terms of the lease. Other stipulations also apply. Like the exclusion of the Cowboys season opener with the New York Giants — the Chapman already have plans to attend that game.

There you have it — would have been criminal to hold this in. Someone out there must need a chi chi home for a year and for $4,500 a month — well, the deal itself is so good it’s almost criminal. Your contact is Mike Kelly in Judy Pittman’s office at: 214.871.1110.

It’s Official: DMN Announces Sawbuck/A.H. Belo Internet Real Estate Partnership

The Dallas Morning News announced this morning what we’ve been reporting for days:

A.H. Belo Corporation, publisher of The Dallas Morning News, is investing in Sawbuck Realty, an online real estate broker that will bring its services this year into A.H. Belo’s territories in Southern California, Rhode Island and North Texas.

Sawbuck is expected to announce today that A.H. Belo has joined Sawbuck’s two co-founders, Guy Wolcott and Steve Barnes, in a $2 million round of investment in the young company. The individual contributions were not disclosed.

I’m in a conference call with A.H. Belo and Sawbuck Realty right now. As soon as it’s done we’ll get you audio from that call. Until then, jump for the interesting part of the DMN story: (more…)

For Sale, By Owner: How To Write A Real Estate Ad

You want to put your home on the market, but you’d like to test the waters and try to sell it yourself before giving up 6% of the sales profit to Realtors. You’ve done your research, think you’ve got the home staged and well-priced. Now how do you write the perfect real estate ad and should you advertise your home in the newspaper?

It seems that folks born prior to 1968 — the year of the Democratic convention in Chicago — have brain wiring programmed to think that everything you want to sell must be advertised in the newspaper. (I think this is the result of subliminal advertising.) People under age 40, however, have been wired differently. The fact that the dividing line seems to be those born during or after 1968 strikes me as ironic. Social networking such as Facebook, Linked In, Plaxo and Twitter are quickly becoming the marketing vehicles for younger agents and buyers. So, how to write a real estate ad for this hip generation and not ignore those who still read newspapers? Consider first the AGE of your buyers: Over 50, toss a few bucks on a Sunday classified. Under 50, you’d better have a presence on CraigsList, the web and Facebook.

Write with your customer in mind.Let’s say that you’re a lover of history, and you bought a historic house on Swiss Avenue. Who is your customer? Someone who also likes the grace and character of older homes. Keep that in mind when you write your ad copy — what does your historic home have that the run-of-the-mill McMansions don’t have, things like “original maple hand-bordered floors” or “Victorian tile fireplace surround”. Picture your buyer as you write, and think about what would appeal to them.

Describe the property, not the customer. Be careful not to run afoul of Fair Housing laws – phrases like “family-friendly” and “exclusive gated community” sound tantalizing but may discourage potential shoppers. Better to stick to absolute descriptions of your real estate like “four bedrooms”, “mature”, and “quiet ‘hood.” Never, never mention a target buyer’s race, color, or religion – that’s clearly against the law!

Name drop brand names and materials.Two of the top five real estate word/phrases words are “granite” and “Corian”? (Others: “state of the art”, “gourmet”, and a nod to our love of nature, “Maple” as in wood, not sirup.) Those words describe specific materials, and that says something valuable to the customer. Of course, you have to know what shoppers in your price point want and expect. If the preference at your price point is for a “Viking” range, you might not want to highlight your dependable “Sears” low-end stove. Descriptive words like “oak flooring,” “soapstone counter tops,” or “Miele dishwasher” – buzz them like the nuggets of a society column.

Look at the competition’s ads. Sounds simple, but you’d be amazed how many FSBOs never do this. Look for repeated phrases that might be evidence of what customers are interested in. Also look to see what differentiates your house. If the competition is a sea of typical North Dallas 1950’s ranches you have a mid-century modern, you might want to emphasize your “open floor plan” or “entertainment flow”.  Show you’ve got that extra pizzazz.

Be careful with code words. There are lots of real estate euphemisms – “fixer-upper” equals shack, ”cozy” equals  “small” – but customers sometimes over-correct for them as they go in and out of fashion.  “Motivated seller”  seems to be the catch-phrase of the day, don’t use it if you don’t plan to slice and dice your price. “Starter home” is another term that’s useful today to attract buyers pepped up with the $8000 first time home buyer credit.

Get ready to rewrite. Rewriting classifieds is one of the big agent secrets; if an ad doesn’t pull right, agents tweak and start over. It’s a good idea to tweak ads weekly and keep careful notes of what works best.

Champs D’Or: And The Lucky New Dallas Agent Is…

Joan Eleazer at Briggs Freeman. Joan is, once again, listing 1851 Turbeville Road waaaaaay up there in Hickory Creek. What all is included (or not included) in that new lower price of $27,500,000, I am trying to determine. Also trying to figure out what, if anything, the owners of the property, Alan and Shirley Goldfield, he the cellphone mogul, she the one who re-created Chanel’s Paris boutique in her master closet, they being the couple who never actually lived in the home, are actually selling: this new bargain basement price includes less land than the 140 acres served up in the last $65.5 offering… and then. My dirty little mind is hard at work, and I cannot help but wonder if this switcheroo has anything to do with the fact that some very mega California VIP’s are working with Briggs Freeman about a serious relocation to Big D.

Technology + Dallas Real Estate = My Toys Are Better than Your Toys

Every agent has to have toys. It’s a tough market out there, and agents are keeping up best they can with all the newbies the tech world keeps spitting their way.  You have read here about Realty Times, which reminds me that Nora Ling Lane is now marketing The Drexel Highlander ($699,000 – $750,000), Robert Edelman’s project so close to our current D offices you could practically crawl out our window into one of the units. But now Sam Sawyer over at Rogers Healy is using a deal called ZingDing, a cross between the virtual tours (yawn) livened up with music and e-card software that makes the presentation, well, zippity doo dah zing-y. Like this.

Dallas’ Ross Perot, Jr: 18 Companies Eye Texas for Relo, Bank Regulators Are Slowing Recovery

Major Realtor event last night at the Creeks of Preston Hollow, Hillwood’s uber upscale privately-gated, one-acre residential community, land that was once private homes on big lots, snapped up by Kenny Troutt for a multiple acre family compound, who then decided his compound on Strait Lane was just fine, so Hillwood went shopping. Now the company really wants folks with high net value to go shopping. (Really, I am amazed GWB and Laura did not buy here, would have made security so much easier.) Some are already rung up, some are said to be circling. 

Last night’s fete was to pump up top agents to bring in the buyers. Hillwood brought in father-son team David and Britt Fair of Hexter-Fair Title Company — David L. Fair closed the Alliance deal for Ross Jr. — for a little state of the LOCAL real estate economy report.  June is when the fat lady sings in the real estate calendar. MLS dollar volume in June, 2007, the greatest year in history for Dallas real estate sales, topped $1.9 billion. June, 2008 topped $1.5 billion. Debbie Downer: April 2009 was about $950,000,000. There is no doubt buyers are seeking the very best purchase prices out there, and the biggest anchors keeping us from taking flight are consumer fears of job loss or loss of home value, and in-migrants who want to buy in North Texas but haven’t sold elsewhere.

And, of course, the banks. 

Mr. Perot stepped up to tell us that 14% of the folks moving out of California are moving to Texas. In the Lone Star State, we just don’t understand how bad it is elsewhere — companies love our low taxes, business-friendly ‘tudes, and lower costs of living. Texas is the 11th largest economy in the world. Perot spoke with Governor Rick Perry recently who told him 18 major companies want to relocate to Texas. North texas is where it’s happening. Overheard: one major company is currently circling us, the CEO hunting for a mega million dollar pad –at least $40m.

(more…)

Always A Bridesmaid, Never A Bride: 3229 Wentwood Plus Dowry

This baby’s been on the market FOREVER, reduced to $1,999,950 from $2,250,000 and now the agents, Charles Gregory and Jennifer Miller of Dave Perry-Miller, an Ebby Halliday Company, are throwing in a dowry.

$40,000 luxury car with purchase of this home.

The roadster will be a Mercedes or other vintage auto valued at $40,000, your pick of the fleet from Benny Black’s Platinum Motorcars.

I tell you, the agents are getting mighty creative out there trying to get buyers off the fence.  As one buyer told me, the houses north of LBJ and in the boonies are practically free, south of LBJ they all but buy you a diamond ring. I can hardly wait!

So When Is That Highland Park Village Sale Going To Happen?

The venerable Highland Park Village is in the process of being sold by the Henry S. Miller family to a man named Ray Washburne, CEO of Charter Holdings. And why do you care? Because neighborhood shopping centers have an intrinsic fiscal relationship with the homes that surround them — great shopping centers enhance home values and quality of life, bad ones suck values down like a vortex. Our sister blog Overheard and DD contributor Josh Hixson reports that the new owner may be booting trainer to the stars Larry North from his digs, most likley because Miller gave North a sweet rent deal that Washburne may not be able to stomach given the current economic climate and precious price he’s paying for what many consider the most prime retail space in America. (Would you like a rent in the realm of $17 per square foot when the going rate is $80 to $100 plus triple net, no finish-out? Me too. ) Though Miller threw in a Hail Mary to up the price, my sources tell me the deal is just minutes from the finish line. Now wonder if they are keeping the theatre?

Sold! 5117 Ursula

Listed for $5.6 million, closed today. So if you think things are slow going in the Dallas real estate market, well,  here’s a big one that just moved. The buyers are moving off the fence.

Bo, The New First Dog, Takes Texas Roots To D.C.

This angel is about to jettison the Portuguese Water Dog into fame and fortune, but in Dallas we know the PWD is the power broker’s preferred pup.

Portuguese Water Dogs: The New First Dog Has Dallas Area Roots

I have to say, we told you so back in February. Dave Perry-Miller gave me the low-down on the Portuguese Water Dog, since he has one, and we knew that pup would be perfect for the First Family. Now comes word that this is the official First Dog and the First Daughters have a precious new Portuguese Water puppy named Bo,  bred by Art and Martha Stern, long-time PWD breeders who live near Dallas and call their kennel Amigo Portuguese Water Dogs. The pup is six months old.  I can’t help but wonder if Dave PM had advance knowledge on this deal: apparently Bo is a gift to the First Family from Massachusetts Senator Edward Kennedy, who owns Bo’s litter-mate and is fond of the PWD. I know Dave is rather fond of New England, and spends time in Nantucket when he’s not selling Dallas mega mansions. Could there be a connection? (That’s Edith Wharton, right, and Henry James, Dave’s PWD — white dog on the left.)

Using Twitter To Diss A Bad Dallas Landlord… Or Builder?

Over at the Park Cities People Blog, Merritt Patterson got wind of a Wi Fi Network called iHateMyLandlord. A few days ago I asked if anyone in Dallas was selling their home via Twitter, as one New Jersey man is trying to do. Still waiting for more responses, but a local builder tells me that consumers are using Twitter to “rate” them — in some cases venting. (This builder said he’d like to Twitter  some of his “lazy-ass” subs, but doesn’t think they would care that much.) After reading Merritt’s post, I wonder, are tenants Twittering on bad landlords?

Real Estate & The Texas Legislature: Is There A Transfer Tax In Our Future?

A few bills on tap in the Texas legislature aim to get more out of our pockets when we buy homes. Grrrrreat. They would impose a fee on the transfer of real estate to benefit the state’s Housing Trust Fund.  Realtors were in Austin last Tuesday hissing about  SB 950, SB 934, and HB 3163. Although the transfer fee in these bills seems small — $10 — other states that implemented similar measures saw their small fees turn from small change to a percentage of sales price, which Realtors fear could ultimately price some Texans out of the housing market. Besides, closing costs are pricey enough. The Real Estate Center at Texas A&M University concluded that the creation of a transfer tax on real estate could cost Texas $955.5 million in lost economic activity with 11,575 jobs lost, not to mention a few trips to Starbucks.

Rogers Healy And Associates Visit The Big D

Real Estate Dallas Dirt style.

Home-Buyer’s Heaven: House Porn You Can Afford!

This is so good, it is almost bad. Ebby Halliday’s web site (which is on our web site) now features a special section devoted to adorable cutie pie cottages all under — are you sitting down, got smelling salts handy — $600,000. You know how it is when you are house-hunting and must abide by what I call the F- word that starts with a “B”, (budget – yecht!). You see a home driving or online and fall totally in love and then, just like that hot man in the Maserati, it’s out of your reach. Not just married but too darn expensive. What a great idea to group listings that are yummy and attractive by price so you don’t go getting all hot and bothered only to find out — can’t touch!

Dallas Deal Of The Week: 5020 Elm Hollow SOLD!!!

What a great jump start to the spring market! Mega sale in The Creeks of Preston Hollow: 5020 Elm Hollow, Briggs Freeman’s premium $11,500,000 listing (known in some circles as the Luxe Show Home), built by Mark Molthan Platinum Series Custom Homes, listed by Stephanee Bates, closed March 23.  Erin Mathews with Allie Beth Allman brought the buyer. If you check the MLS, you will see that the sales price has been “Z’d” out and all parties have sworn to the secrecy of the buyer’s identity.

But DallasDirt has done some serious digging and hears the buyers may be Roger and Sue Linquist, formerly of 6508 Turtle Creek Blvd. Mr. Linquist is the CEO, Chairman of the Board, Director Founder and President of MetroPCS Communications, Inc. I hear that the price wasn’t all that negotiable — Elm Hollow sold for about $500,000 under asking price, give or take some change. Fabulous deal. I believe this is the second sale in The Creeks, and I bet the champagne corks are popping right now at Hillwood, not to mention Briggs Freeman and Allie Beth Allman — the closing was on Allie Beth’s birthday. Great gift!

�

Deion Sanders at Tatum Brown, Allie Beth Allman Event

That’s Deion, me and Mark Danuser. Deion was SERIOUSLY looking at 3915 Gillon Avenue, another GORGEOUS Tatum Brown Custom Home. Everyone was there — Doris and Jack Jacobs,  Allie Beth and Pierce Allman, Stevie Chaddick,  Ben Jones, Tommy Thompson, and of course the entire Brown family. This home: $8 million and some change. Duke was there with his poor arm in a cast — now we know why Allie Beth Allman agents are topping the sales charts. (KIDDING!) Hope that arm heals lickety-split!

Happy Birthday Ebby Halliday!

Big birthday day today — Ebbie Halliday celebrates her 98th, as does my precious uncle, also 98. And future son-in-law Jake. Meantime, Barbie has turned 50, a real milestone. To celebrate, send us photos all week long of your Barbie dolls. Anyone have a “Real Estate Barbie?”

Rogers Healy Now Listing In Preston Hollow, Plano

That darling young man who, on occasion, brokers deals for major football stars now has two multi-million dollar listings, one north of LBJ, 6800 Rainwood in Plano, the other in Preston Hollow at 6246 Stefani Drive. Stefani I know well — a beautiful area south of Royal, east of Hillcrest, with lakes and curved streets, very charming and very much in demand. And LOVE Rogers new website!

Missy Woehr Joins Keller Elite, Preston Center

Formerly the manager of Keller Williams Turtle Creek, Missy is the latest in a flurry of top, super sharp agents finding a new home at Keller Williams Elite at Preston Center. Recent additions include Philip Walker, and Nicky and Eleanor Mowery Sheets.

“It’s exhilarating to be back in sales,” says Missy. “I’m not a check collector.”

Since KW has offices across the country and even in Canada, Missy plans to have a referral part for Vail/Beaver Creek second home sales as well as her Dallas listings.

Century 21 May Be Up To 22

I knew that Century 21 Judge Fite Company Realtors had acquired or merged with Century 21 Austin Realtors in Irving last week and yes, at first I thought this was Century 21 Judge Fite buying a Century 21 in Austin, Texas. Fact: It is the Irving location, and I am trying to figure out the significance besides “bringing in more resources”.

Good News To Start The Day

Dallas is among the healthiest housing markets in the nation... Houston is number one, but we are not too shabby in the top five most robust.