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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.

Unlike Dallas Real Estate, Chicago LakeFront Mansion Take It On The Chin

In this glorious part of Chicago, it seems the high end is not doing as well as it is in Dallas: a lake front home can now be had for under $3 million!!!

The Real Estalker Pens Up Preston Holler

I love Mama — now more than ever for the nice write-up of 5323 Park Lane. (And she called me the dee-voon Dallas real estate gossip — you betcha!) Read every morsel of her delicious verbiage (”Holler”, “terlits”) then check out the comments — boy are they bad. But her copy purely sings, here’s my fave line:

“Preston Holler is one of Dallas’ finer and most expensive neighborhoods where many of the swank streets are lined with mansions that make Beverly Hills look like the damn ghetto.”

You’ve got it right on, Mama! And margaritas on every corner.

House Porn Extravaganza: The 100 Most Expensive Homes In Dallas, 2009

Get ready for major financial house porn: the D Magazine print product is out with the lowdown of who owns Dallas’ 100 most expensive homes. (I kind of gave you a tease about this a few months ago, suggesting we send these people thank-you notes for  paying the highest property taxes in Dallas County.) Well, as you can probably guess, that list is already outdated. Number four on the list, the $28,742,300 home of software titan Lawrence Lacerte at 5323 Park Lane, is wrong. Last Tuesday the home changed hands from Lacerte to Kelsey Warren… and that Dallas County appraisal is not too far off from the home’s confidential selling price. The buyer, Kelsey Warren, took out a $14,000,000 loan, paid cash for the rest.  On a $14,000,000 home mortgage, the monthly payments are about $103,000 per month, not counting taxes and insurance.

Can you just imagine writing a check that hefty?

Zillow Hearts Dallas’ Biggest Real Estate Deal

Yep, even those folks out west are impressed.

5323 Park Lane: Who Is Kelcy Warren?

Energy transfer business. Like Tim says, lucrative field.

5323 Park Lane Sold, Closed, Most Expensive Dallas Real Estate Transaction To Date?

The beautiful Preston Hollow estate of Joyce and Larry Lacerte closed yesterday, opening a new chapter for one of Dallas’ largest homes that has entertained scores of dignitaries and raised millions for Dallas charities. The seller’s agent, Ralph Randall of Dave Perry-Miller, an Ebby Halliday Company, is likely depositing his commission check(s) at several Dallas banks to ensure FDIC  coverage. The 26,620 square foot home is set on almost 9 acres of land in the honeypot of Old Preston Hollow. The estate was constructed circa 1991-1993 by a team including architect Cole Smith,  Smith/Ekblad & Associates, Sherry Hayslip-Smith, Hayslip Design Associates and Cole Smith, Jr., Crowbar Contractors.  It contains  a racquetball court, exercise room and locker rooms adjacent to a near Olympic-sized natatorium, bowling alley, wine cellar with tasting room, an Orangerie conservatory overlooking interlocking Koi ponds loaded with about a million dollars worth of Koi, tennis court, baseball diamond and a private lake. Ralph Randall now rules as the high priest of Dallas’ most expensive real estate. Agent to the John Muse family, he participated in the sale of the most expensive home in Highland Park when he helped John and Lyn acquire their lot at 4800 Preston Road, and Ralph has now sold the most expensive home in Old Preston Hollow to date.

From what I hear, 5313 Park Lane was originally listed last year for $45 million, recently lowered to just under $40 million. ( Zillow had it “zestimated” at $26,063,000.) According to my sources,  it sold for about $30 million-ish, and the buyer, Kelsey Warren,  asked for an outside appraisal.  Buyer’s agent was Rosie Waters of Allie Beth Allman and Associates, who is married to football legend Charlie Waters, who I believe works for Mr. Warren.

The Lacerte home has entertained, among others,  Prince Edward, former President George W. and Laura Bush,  Senator Kay Bailey Hutchison, Jaap van Zweden, and Caroline Rose Hunt, among others, plus feted countless Dallas charity galas and pre-galas.

Dallas Deal Estate — a REAL Estate Sale in Preston Hollow

 That would be5915 Desco, one of Preston Hollow’s most magical streets, perfectly located west of Preston, east of the Tollway, and all verdant green green green. This pup is a 1951 brick ranch that has been expanded (8232 square feet) and updated with guest quarters, tennis court, pool. With 1.22 acres, this is like having a country club in your back yard. In fact, it’s better! Home is beautifully maintained and I’m sure some builder is eyeing it to strip the carcass bare and build a new behemoth from one end of the acreage to the other — so someone buy this home now, please, to save it. Great point: sprawling master bedroom is on the first floor, perfect for empty nesters or the gently aging baby boomer with bad knees from playing too much college football!

Update: This home is listed for $1,995,000 — 1.22 acres in the honeypot. Unbelievable.

Speaking of Hosed:The Cost Of Marketing a Mega Mansion

1851 Turbeville Road has now come full circle: Briggs Freeman actually had the very first shot at selling Champs D’ Or, when it was listed for $48 million, the home plus the same 25 acres now listed by Joan Eleazer for $27m. But in the words of Robbie Briggs, the world of real estate has changed, as has the way agents market properties. An interesting side story of this mega manse is the marketing costs to the various brokers who have tried to get it sold. Briggs had it first — and shelled out at least $100,000 in marketing/advertising costs. Next up: Doris Jacobs and Allie Beth Allman: another $100,000. About three years ago, Greg Cagle at Ebby tried to sell it, hosting one of the be$t partie$ I’ve ever been to, then it hopped across the office aisle to Elaine Whitfield and Matthew Edwards of Dave Perry-Miller, an Ebby company. Off the record sources have told me Ebby dished out almost $150,000 trying to sell the Goldfield’s field of dreams. Three of the creme de la creme of Dallas’ top brokers, $350,000 to try and sell a mega mansion.

This time, however, the marketing campaign at Briggs will be far less slick.

“We’re going to keep it simple,” says Robbie Briggs, “marketing it through the internet and ingenuity. The buyer for this property will be a rare person, likely international.”

Or a consortium looking to turn the Dream manse into a spa or resort/surgery center where,  for example, celebs could jet into Dallas (D/FW is only 30 minutes) get nipped, tucked,  have fat removed or replenished,  and recoup at Champs D’ Or in 35,000 French-inspired square feet, meander up to the Hall of Mirrors-inspired ballroom and check out your eye-lift,  sip healing tea in the Tavern-On-The-Green inspired tea room, sit under the hair dryer in the salon off the Chanel closet and master bedroom where, for top dollar, you can sleep off the Vicodan.

Goldfield has more than $36 million in the house. At least one sharp agent told him years ago to dump the whole place for under $30 million. But no. 

“I think the timing is right,” says Robbie, “We can’t fix a man’s dream, we cannot transport this home to a different location.”

Not to Beverly Drive, because then buyers would not be getting quite such a bargain: at $27 million, the buyer will be getting 2/3rds of the home, and all 25 acres, for free.

Such a deal!

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.

Champ D’Or Changes Agents, Now On Market For Only $27 Million

 Just heard that Champs D’Or has changed real estate brokers, agents and price again. The mega mega property, built in God’s country north of Denton, had been listed with Dave Perry-Miller’s Elaine Whitfield and Matthew Edwards for $65 million. Now it’s bounced back to Briggs Freeman, listed for $27 million. The mega property was also a cover story in D CEO…  where it was speculated that it could end up a tear down.  This property has had more agents than Wilt Chamberlain had sexual partners.

Andrew Merrick Lowers Price of Home by One Million Dollars

Not 3500 Beverly,  which is still $17.9, but this one: 4201 Versailles, reduced to $3,999,999 from $4,999,999. 8465 square feet, slate roof, basement, loaded. If this was Vegas, we could probably start a wager on how much these two homes will ultimately sell for — but if this was Vegas, those prices would be slashed to smithereens and the banks would likely be the owners. Andrew Merrick still has James Dondero.  Go ahead — comments are wide open here — tell us what you think these two homes will ultimately sell for.

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…)

Of Unfriendly Home Building Job Sites And Fowl

Candy’s posts about unfriendly Preston Hollow job sites got me to cogitating about all the McMansions in PH that sport tall fences and walls for privacy.

The most notable example I can think of is a home with an “architecture feature” that ducks were flying into in the 8700 block of Jourdan Way. If you like you can read my story on the subject here. The photos on the left are from Patty Young, a bird watcher who took it upon herself to document the ducks’ inability to avoid colliding with the “architecture feature.”

The “feature” was a large glass window built into the wall surrounding the pond. The purpose of the windows were to allow for a view of the pond and the house despite the large wall surrounding aforementioned home and pond. Seems a little oxymoronic to me … But, I don’t get paid by the hour to replicate “architecture features” from the Nasher Sculpture Center in the back yard’s of Preston Hollow estates.

Needless to say this job site (construction was still taking place on the home) was none to friendly to our feathered friends.

More Not So Friendly Signs

Home Building Job Sites Say Keep Out

What is the deal? I drive by these job sites — and I must say Preston Hollow is BUZZING with trucks and gunnite tubes, the Bushes have definitely stimulated something — and see all these not-so-welcoming signs. What’s the deal: you have millions, you build a mansion for your ego, forbidding anyone to see it while it’s under construction. Then the mansion is finished, you erect a huge fence around it and plant enough trees to mask it off from the world after, of course, yanking all the trees that existed prior to the scraping. I am concerned we will see more of these “unfriendly job sites” and walled-off mansions in the future now that luxurious, haute living is considered gauche. (This one says, “Everyone must sign in at field office” and “no catering trucks”.)

Thain’s Commode

A reader informs me that Mr. Thain’s office commode is not a toilet, but an elaborate chest. I should have known that because I write for a home design magazine. (Was actually trying to be tongue-in-cheek. Or plunger-in-pot.) But to tell you the truth, there are $10 million dollar commodes out there. I have seen 24 ct. gold commodes studded with gems. There is an antique commode in one Dallas home that I’m told is worth $100,000 — maybe I can dig up a photo. It is pink and conceals the commode completely so you never know where you are sitting, so to speak.

Meantime, Mr. Thain should go hug his commode: the Obama administration is already rubbing hands to tighten up the regulatory system on the financial world, unleashing Timothy Geithner:

“Excessive executive compensation that provides inappropriate incentives,” Mr. Geithner said, “has played a role in exacerbating the financial crisis.”

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The Stoneleigh

The Gallery, Carleton Varney for Dorothy Draper & Company. Be sure to read in AD how our Peter Goodchild restored two 18th century mirrors covered with 30 years of paint.

Keller Williams Elite PC Welcomes Nicky and Eleanor Sheets, Buyer Circling 3500 Beverly?

I’m told the welcome was warm and gracious, and agents were told by KW Elite’s Linda Carothers that Nicky and Eleanor will be officing off-site. Meanwhile, I popped into Gary Riggs Interiors later today to check on the show home furnishings at 3500 Beverly…  Gary Riggs is now across the street from Nicky and Eleanor’s former Coldwell Banker Residential office on Preston at Lovers. Seems the gorgeous furnishings Gary supplied for the Genesis Show Home at 3500 Beverly are still there because a buyer is circling mighty close. Stay tuned.