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SOLD! Saturday Estate Sale At D Home Of The Week House: Free Margarita If You Say “DallasDirt”

Remember our princess on Princess? Seems her prince has  swept her off her feet — signed on the dotted. The current owners of 3757 Princess must clear out and tell me they plan a huge “gay-rage” sale tomorrow (that’s July 11) from 7:30 a.m. to 2:00 p.m.

And if anybody mentions the word “Dallas Dirt”, a margarita may magically appear in their hot July hands.

Building or Remodeling? Formals, Wine Cellars Are Out

Toured several new homes in Dallas yesterday, including a new, gorgeous $2.9 million spec home that has no formal living room. According to the architect/designer, Don Caperton, Caperton Johnson, two things are out: formal living rooms and wine cellars. The formal living rooms are considered a waste of space and building dollars. Unsaid but widely known: they also keep the Dallas Design District afloat and serve up to many a Dallas husband heart-attack-sized design bills. Wine rooms are also over-rated, costly to install, a legal nightmare if you have teenagers, and people never end up filling the cellar with all that wine.

They just drink it.

Next thing you know, people will be filling their swimming pools.

Is Highland Park One of The Most Expensive Places To Live In The USA?

Highland Park, Texas made Business Week’s top ten list of the most expensive suburban communities, though we know HP and UP are not really suburbs but an island within the city. Frankly, I was surprised: Atherton, CA was first — no shocker, all the Silicon Valley big wigs live there — median home price $3.8 million, then Highland Park, Texas median home price $937,500., then Scarsdale, NY at $1.23 million. I guess it was HP’s nonretail spending at 245%, which was really a shocker, that upped the cost of living ante. Seems that some financial gurus are suggesting that folks who live in places like HP/UP and are finding it hard to make ends meet sell their homes in the pricier communities and seek shelter in lower cost areas — but to do that here would tack on the added expense of commuting if you moved to, say, Frisco. Or if you moved to a North Dallas ranch home you might end up forking out $20K a year for private school. Why not stay in HP and pay the high property taxes (ouch), at least those are deductible. I don’t know yet what I think about this article. Or this. What do you think?

What Price Home Does An Annual Salary Of $250,000 Buy?

I’m just saying here — looking ahead to how much house someone who earns $250,000 a year will be able to buy as we re-distribute the wealth. Not saying it shouldn’t be re-distributed, not saying it should. (Thain’s should.) OK, $250,000 in the 28% income tax bracket. That leaves $180,000. Or a monthly income of $15,000. Lots of money. We had a car lease of $1,000 on that Beamer, and maybe a little college loan out there. We are down to $13,000. We charge about $4500 a month — we pay that off. We donate and/or fritter another $1000. Did I forget anything? That leaves us $7500 for PITI — house payment, taxes and insurance.

I ask you: what price range home can you afford with $7500 a month?�

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? �

Dallas City Council Hears About Urban Planning

Encourage development of dense neighborhoods and give people more transportation choices: four top urban planners give the Dallas City Council an Rx for a thriving urban core. Fabulous, great ideas presented… but are there enough people actually moving to the urban core to sustain this? 

Will Dallas Homes Get Smaller?

D.W. Skelton and I have talked about this for the last five years — he contending that we will soon see the end of the mega mega home, even in Dallas. Now our Virginia McAlester agrees, and tells The Washington Post’sElizabeth Razzi that big homes were de rigeur at the turn of the 20th Century for the wealthy: 20 or 40 rooms, which required a tremendous income (and staff out the wazoo) to keep up. Now, predicts McAlester, you will see smaller homes built with tremendous green consciousness, especially when it comes to energy efficiency. Other experts say our homes will not get all that smaller — the average U.S. home size is increasing — but will focus more on quality, rather than size. So tell me, where is this happening in Dallas besides Little Forest Hills?

Swapping Spouses, Houses?

A friend in Massachusetts told me about a couple-swapping ring going on at their country club — how risque! This I can handle: the DMN ran a cool story on house swapping. I understand house-swapping is a trade, an  ”I agree to buy your house, you agree to buy mine” transaction. Like consensual swingers, potential home swappers post pictures (”House Porn”) and descriptions of their homes online, hoping to attract other homeowners looking to trade. (Do they fudge on details, like 6500 square feet and oceans of granite when really those are 12 by 12 granite tiles?) Ideally, they buy each other’s property and even better, no STDs!

The National Association of Realtors does not track swap sales, but a number of house-swapping websites have popped up in the last couple of years, most reporting steady increases in online swap postings, like Craigslist, which reported a 30 percent increase in house-swap listings in 2008 over last year.

So I wish I had asked our teacher about this in school. Vitally,  what is the role of the Realtor? I would imagine it would be business as usual for Texas agents, but since out-of-state agents are considered “foreigners” here until they obtain a Texas license, wonder if you have to use an agent or an attorney if the swapper is in another state? And I imagine there are some horror stories out there — about the houses, not spouses — anyone?

PS: Another trend agents tell me we are going to be seeing more of: owner financing. Stay tuned.

More Company Coming To Dallas Dirt: Meet Worth Ross

Does the maintenance and repair of your home and investment properties drive you to drink? How would you like to manage properties — multiple — like 300 plus? That’s how Worth Ross spends his life 24/7, managing multi-family from posh single family rentals to the most upscale high rises on Turtle Creek. From saving homeowners hundreds in monthly association dues to boiler breaks to frozen water pipes, Worth has seen, heard and repaired it all. (Not himself, but I hear he has the best repair Rolodex in town and I just may get sticky fingers.) I thought we needed the voice of facility management experience right about now — and Worth will be sharing his deepest property care secrets with the readers of Dallas Dirt. (Feel free to send in questions. Here’s my first: how to save money, any, on energy costs. Specifically, the cost of crude is down so why haven’t Glacial Energy and TXU lowered our utility prices?) Hey, what works for Turtle Creek works for a home on say, Daria Place. Excuse me while I go make sure all our exterior faucets are frost proof: it’s so cold I need a mink just to read the thermostat.

Note To Kids: My Time To Go, Plop Me At The Ritz-Carlton Club and Residences, San Francisco

This article about how Marie-Dennett McDill, an east coast socialite, spent her last days on earth at the Carlyle Hotel, nearly made me cry. So much I called our attorney and re-drafted our will. When it’s my time to go, I want my kids to plop me at The Ritz, preferably in my San Francisco fractional ownership. Cannot get closer to heaven on earth. (more…)

It Takes A Crisis: Homebuilder Erecting Smaller Homes

Baby steps, down to 2500 square feet from the 3000 plus-size gals.

Oh Dear: Layoffs at Zillow

One of my fave companies – you guys hanging in there?

Tucker Hill

I LOVE the name of this development in McKinney and am dying to get up there and totally scout it. Looks like Paige Phelps, who used to work for us, got a jump start — what can I say, she’s younger and cuter! (Hi Paige! When can we do lunch?) Another great development up in Allen: Montgomery Farms. Question, though — for all these developers: with all that cheap land up in McKinney, Allen, Frisco, why are the yards so small?

Trulia Launches Special Site To Deal With Real Estate Market Crisis

Even as they beef up partnerships with more Realtors and organizations. Zillow is adding home services to its blog, becoming more of a Craig’s List for homeowners — very smart, homebuyers spend like crazy when they first buy a home and this is the time when they most utilize home service contractors. (Swear my husband had an affair with a gal named Home Depot when we bought one of our homes.) Not sure yet that Dallas is in any crisis mode — but I do know that we are about to see a shift in the rental market, which I spoke with Worth Ross at length about today.  Besides working with homeowner associations, Worth manages 750 single family homes in the Dallas Fort Worth area — yikes I think two are sending me to an early grave! He’s been in the business since 1984, he lectures, he clearly knows what he is doing and we will be hearing lots more from him on this blog!

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?

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.

Always A Bridesmaid, Never A Bride: Why Won’t This House Sell?

Reduced $100,000 from $1,495,000, over 5000 square feet of new solid construction,  and I think it’s adorable. Great street, great ‘hood, great look — Hill Country chic. So the builders want to know what gives. Similar props have sold like hotcakes in Lakewood. OMG, is Lakewood hotter than Preston Hollow? I don’t know. What do you think? (P.S. Dear President and Mrs. Bush — this is your style!)

Beach House Porn, Reduced: Cute Emerald Coast Only $695K

I just love the northern Gulf Coast of the Florida panhandle, and this darling three bedroom, one level WaterColor getaway built in 2006 can be snatched up for less than $700,000. Some good bargains out there…

Highland Gates: Master Bath Rivals The Ritz

Separate shower, marble-ensconced tub, very similar to the Ritz Residence in San Francisco: stay tuned!

Highland Gates: No Need For Reservations

Cook up a storm in a Preston Hollow-sized kitchen.

Highland Gates: Come On Inside

Downsized king master bedroom: Highland Gates.