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Ask Candy: Is It Crazy To Buy A Single Fam Home In A Block of Junius Height Duplexes?

A reader writes:

“Hi Candy:
Would we be crazy for buying our first house, a decently restored Craftsman, on a block that is otherwise duplexes? Its in Junius Heights so there are a lot of duplexes all over the area, craftsman and prairie style duplexes but……. yea. And its also one block from an elementary school. Our kid is already in middle school so its not a plus for me but does that school location matter? Cars on the block and area appear newer and the duplexes are mostly in good shape, its definitely a gentrifying area.
thanks alot !!”

I don’t think so. Last time I looked, Junius Heights was one of the more sought-after areas east of Central, in definite re gentrification mode. Proximity to an elementary school should also not be a problem. I was talking to appraiser D.W. Skelton this week, who told me living near an elementary school can be a plus: space, playgrounds, places to walk the dogs. Just don’t forget the poop bags, please!

Dallas Real Estate: This House In Foreclosure, So Let’s Up The Price

Cute little house, no? $179,000, 7530 Caillet Street – that area behind Lovers Lane, bit west of Simon David and the Bird Streets, an area saturated with more renters but one that I predict as a general personal opinion (NOT as a realtor) will flourish with first time homebuyers in the next boom. Not giving any advice here, OK? But get this: the house had been listed for $169,000, goes into foreclosure, they list it for $10k more. What gives?

Update: Oh must tell you I found this listing on the Sawbuck website. You know, the company that got the Dallas Morning News into the real estate biz.

The Travis at Katy Trail –Bustier Explained, LeCorbusier To Blame

I am just so dumb! Now it all makes sense — the outfit, the mood, the corridors. Wonderful Kyle Crews and team from Allie Beth Allman called to alert me to the fact that the corridor configuration that so confused me last night at the Travis At Katy Trail — it was NOT the Sake — was inspired by Le Corbusier, who designed many pre-war Parisian apartments that way. The homes inter-lock like bottles in a rack with common corridors every third level, resulting in a building that is less expensive to maintain. The Travis was built this way, originally as a condo hi-rise by GDA Architects, but the original developer, Robert Shaw, opted to lease rather than sell them. So what is on the market now is two-story condos that were built as two-story condos, just leased out. And of course, DUH, that’s why there were these lovely young ladies around last night in scantily clad, um, outfts. Bustiers. I get it!

(I’m just glad my husband stayed home.)

Update: The  furnishings and Chance Handbag Trunk Show started last night goes on today, Friday, Saturday and Sunday, 1-5, at The Travis.

In 1604 for Twenty-Four: Saturday Night at the Ritz-Carlton Residences’ Newest Tower

Saturdays go something like this: clean house, killer work out class, home to recover and hop in the pool with the dogs if weather permits, after which I usually walk around the exterior of my house and make note of what needs to be done. If I don’t get someone out to clean my windows the  mud wasps will have eminent domain. I have a dead juniper next to my front door. The yard man needs to pay more attention to the Japanese garden, which looks more like Hiroshima, the summer color is going going gone and it’s time to shell out money for think fall color. The pecans are raining on my sidewalk faster than I can sweep them, yielding enormous squirrel scat, and there’s a duck pooping in the pool, on my deck. So much for a swim. No wonder that by four pm, I’m hitting the bottle and re-thinking my love affair with home ownership.

So when the Ritz-Carlton Dallas asked if we’d like to try on living in one of their newest homes — to be unveiled tomorrow — I said not just yes but HELL YES and told the squirrels to stuff themselves.

2:00 p.m We pack our bags for a night of elegance, dinner at Fearings,  and (yard maintenance be damned, or at least postponed), a Sunday at the Ritz-Carlton Dallas spa: I slip into a cocktail dress and fold up work-out clothes, tee shirts, bathing suit (which I ended up leaving on my dresser) and make-up. Also throw in an elegant black velour lounging outfit with tags still hanging — never worn since I never “lounge” in my own home.

3:58 p.m. Arrive at the 23-story Tower Residences at the Ritz-Carlton, Dallas, pulling the car into the port-cohere at our new address: 2555 North Pearl Street. We are greeted by none other than Ritz-Carlton General Manager Roberto van Geenen; Joseph Pitchford, Senior Vice President, development, Crescent Real Estate Equities L.L.C.; and Barbara Capasso, Residences Manager, with champagne. The Robert A.M. Stern regency-style building exterior is similar — identical, actually — to it’s twin tower and the hotel, the pale brick and cast stone. Most definitely a New York City elegance. The interior lobby is dramatic with white onyx floors bordered by rich chocolate brown and, a concierge counter bearing the most beautiful russet-colored stone slab I have seen to date: rich maple wood paneling everywhere. Unlike Tower One, this lobby is more of a rectangle, with a warm residence sitting room, a library, Chinese-red dining/board room,  private exercise room with a cushioned floor, individual lock and key wine-storage units for each homeowner, and gateway to a gorgeous, 80 foot long pool and spa flanked by Jerusalem Palms. There is an exterior fireplace and the entire deck, chairs, chaise lounges, pillows are new, spotless, squirrel and duck-free.

There is a fireplace in the lobby as well, and it is lit, warm and welcoming on what will soon be an historically rainy day in North Texas.

And so begins one of my most amazing 24 hours ever…

While The Cattle Barons Were Playing Slip and Slide In The Mud Saturday Night…

We were in Ritz-Carlton comfort testing out the newest Ritz-Carlton Residence Tower which opens Tuesday. We spent the night in a fabulously designer furnished home listed for $2.8ish million. You learn a lot about a home when you spend one night there. Here’s what I learned, The Ritz-Carlton is perfect. From rose petals sprinkled across our bed to the family photograph collage right next to my side of the bed. Downright perfect! So would you rather have been rolling in the mud (where our kids are) or here?

Stay Alive ‘Till 85; Open The Pen in 2010

I popped into the HBA’s lunch meeting today at Maggiano’s in time to hear the guru’s of Dallas real estate talk about our future: Appraisers D.W. Skelton and Bradley Edgar; David Brown, Director of Metrostudy Dallas Fort/Forth; J. Brigham North, Chief Executive Officer of Sterling Bank; and Mike Bradshaw, Senior Vice President Division Sales Performance Executive, Bank of America. In a nutshell: new tough appraisal laws are crimping sales, a move to suspend the RVCC in Congress is going nowhere, bank credit departments want vanilla properties, expect regulations to get worse and the management companies are here to stay. Get used to nursing your appraisers along: in one instance, an appraiser had not even measured the house! Since we are heading into October and the stock market is already getting P.M.S., D.W. Skelton reminded us of the buzz word back in 1984: stay alive ’till ‘85. That sentiment is being echoed again as indicators tell us the Texas real estate market has bottomed out and will be looking much more chipper in 2010. You could almost see the relief on builder’s faces. Texas should be like an island sprouting from a sea of drowning real estate with positive job growth, improving (not spectacular) home sales. 2010, open the pen.

Or as one of the builders said: stay out of the pen… ’till 2010

D Sale of the Week: Million Dollar Crash Pad Belongs to a Valet?

Well, yes—but he owns the valet company. R.P. Payervand, owner of RP’s Valet, recently remodeled 4530 Fairway St., a sophisticated, Spanish-style home built in 1936. It was gutted to the studs in 2009—yes, this year—so the house is practically brand-spanking new. What they added: lightly hand-scraped, wide-planked hardwoods, which I will have in my next life; built-ins; lightly textured walls; so much Ann Sacks tile you will think you are back in her showroom; Kalista fixtures and sinks; petal commode stool (isn’t that a lovely way to put it?); bathtubs with hand sprayers; bidet; and—this nets an A++ from me—a urinal! No more tinkle-sprinkled floors! Seriously, the tile work in this house—including hand-painted tile back splash in the kitchen—is worthy of an award. (I’m ready to move!) But just wait until you see the master suite; you will never want to get out of bed! It boasts a sitting area, sunroom, fireplace, oversize closet with built-ins, and a balcony overlooking the yard with mature trees. Price tag: $1.295 mil for 3,730 square feet, four bedrooms, and four-and-a-half baths. And this highly motivated buyer might just toss in a year’s worth of valet parking for your next holiday party. In this market, all you have to do is ask.

Dallas Real Estate: Coming Boom In Moderate Income Housing

The Obama administration continues to prop up housing and give the market an IV feeding, now by slating $35 big ones to provide low interest mortgages to low and middle-income families:

“The effort could trigger criticism, particularly from Republicans, for aiming federal funds at low- and moderate-income homeowners instead of other troubled areas, such as small businesses or commercial real estate.The move also comes as some lawmakers are advocating less spending. Already, 40 senators are pushing to allow the Treasury’s $700 billion bailout fund to expire and direct any remaining funds to pay down the nation’s ballooning debt.

Rep. Scott Garrett (R., N.J.) said while he hadn’t seen exact details of the plan, he questioned whether the government should be aiming more money at the housing market.

“I don’t know that we can continue this pattern of having the federal government being the lender of last resort,” he said. “Most people are calling on the government to lay out an exit strategy. This just gets us further into the quagmire.”

More broadly, the move is an attempt to bolster the role of government in encouraging home ownership, especially among low-income Americans. Considered well-meaning by many, the principle has been blamed by others for fueling the housing boom that led to last year’s financial meltdown.”

Green Certification Class for Realtors This Week

You’ll remember that last year the National Association of Realtors developed a pretty comprehensive certification for Realtors that covered many different aspects of “green” buildings.  There’s a two-day core curriculum class, being offered this week at MetroTex/dfwRealtors, and then a one-day elective in residential, commercial or property management.  It’s hard to give up two days, but you Realtors will be amazed at how much has been crammed into the class–all of which will come in handy sooner or later.

Casa View Oaks

I’m back–temporarily–to help Candy out as she takes care of family business.

I’m always amazed at how many tucked-away neighborhoods there are in Dallas that I’ve never heard of.  With really good architecture.

Just drove over to an area that I guess might be called Casa View Oaks, in an area of east Dallas that can only appreciate, near Ferguson and Oates.  There’s quite a pocket of Cliff May-designed houses over there that are crying out for young families to come on in, buy a house for next to nothing, do some restoration work, and end up with affordable architectural significance.

Cliff May, who is sometimes referred to as the Father of the California Ranch House, practiced throughout the mid century (20th, right).  His houses were notable for their close connection between interior and exterior spaces, which tends not to be the case with the ranch houses we all grew up in.  The houses over in Casa View Oaks clearly have it.  One current listing, 2651 Andrea Lane, is on the market for $146,000 and has been a hot topic over at livemodern.com.   Take a look at the photos.

Beautiful Lynda Adleta, Rest In Peace

I’m told that Lynda Adleta, one of our fair city’s powerhouse Realtors, and a pillar of courage and commitment to the entire city, died last night after her courageous battle with cancer. Lynda was President and Broker/Owner of Adleta Fine Properties, and a two-time survivor of multiple myeloma. Not only was she a dynamic agent — at one time almost every for sale sign in Park Cities/Preston Hollow carried her name — she remained committed to generously helping others through non-stop community involvement. Lynda was elected to The Leukemia & Lymphoma Society’s Board of Trustees in 2002 among her many, many contributions to making life a better place for everyone in Dallas. Rest in peace, beautiful Lynda. Your precious, energizing, loving spirit is with us all. DallasDirt sends our heartfelt love and sympathy to Lynda’s  family and loved ones.

Open House Porn Spectacular: Sexy September Sunday

Just a smattering to wet your palette… what else to do once it rains but tromp through houses?

3110 Cornell Avenue

Well if you could not make it into an Ivy the first time around, here is your big chance!  This beautiful four bedroom Highland Park home, to be shown this Sunday, September 13th, by Ebby Halliday is the perfect place for a young family to plan to grow old in.  This traditional brick house sits on (what seems like) about five acres of beautiful landscaping… I lied. Really lot is typical PC 50 by 150. You can practically see your collie running through the lawn as your son or daughter (or perhaps even you) is twisting around in a tire swing hanging from a tree in the front yard.  I may have watched one too many Lassie reruns, but I think you get the picture!

2817 Park Bridge Court

Here is something for the modernists in the group. I absolutely love this contemporary 3 bed 3.1 bath home.  Though an elevator and hot tub may seem excessive , for only $2,999,999 such luxuries plus the beautiful view of Turtle Creek are more than worth it. I have to admit that I have a soft spot in my heart for this home because before moving into a very traditional brick home, my family lived in an ultra modern house.  Furthermore, it is a reminder that modern homes can be just as cozy as traditional homes. This is a must see so head over to Park Bridge Court on Sunday between 2:00 and 4:00 for Allie Beth Allman’s open house.

8707 Canyon Drive

I could not help myself! As much of a traditionalist as I have revealed myself to be, I absolutely love modern homes.  This one particularly tickled my fancy because of the natural element created by the simplistic landscaping,  the use of stone, steel, and wood.  In addition, the extensive use of glass begs natural light to come in and fill in the large open spaces.  Even more exciting is the way the well known modern architect, Frank Welch, took advantage of the outdoor living space as beautifully as the indoor space, complete with a stone patio, fireplace, and skylights.  This sleek four bedroom going for $1,979,000 will be available for viewing this Sunday between 1:00 and 3:00 by Briggs Freeman. This is definitely one to check out! Even if you do not like modern homes, I urge you to put your preconceived notions aside and give this one a chance. It will change your mind forever!

Sawbucks Versus Zillow: Who’s The Best OnLine Real Estate Company of Them All?

I’m kind of a Zillow gal myself, and I especially like the i-phone apps which come in so handy, like Sunday when I was cruising around Midway Hollow and uptown. But these Sawbucks people are luring in consumers with all kinds of financial incentives. Tech toys versus moola: hmm. While I agonized, the good folks at DFW Around Town did the analysis. Greg Janda says Sawbucks gives you MLS numbers, which is nice. I just have trouble with that name — either it reminds me of Starbucks, and I get thirsty, or it makes me think of the musical Annie and Daddy Warbucks and that song which, actually,  might be a great theme for the industry right now: “Tomorrow, tomorrow.”

The Most Beautiful Homes In Dallas

The issue you have been waiting for! Real Estate section not too shabby, if I do say so myself.

Neighborhood News To Use: Landmark Snags Contract to Manage Highland Park Village Theatre

Next May, Landmark Theaters will operate the HPV theatre that closed August 13 for renovations. Landmark, as PCP’s Sarah Scott reports, is partially owned by Mark Cuban and operates The Magnolia and Inwood Theatres.

Dallas Dirt Needs Your Vote For Best Real Estate Blog in Texas Final Round

Time to vote for your favorite Texas real estate blog for The Real Estate Center at Texas A&M’s first-ever best Real estate blog contest. The heat is on! Dallas Dirt has made it to the top eleven. (Yes! Thank you!) But we need your help and we need your votes. Please e-mail your vote to RECON’s Associate Editor Bryan Pope at bpope@mays.tamu.edu.

You have seven days to get your fingers walking — results will be announced one week from today.

Rahm Emanuel’s Connections To Freddie Mac, Etc. Etc. Etc.

We know that “irregularities” within both Fannie Mae and Freddie Mac helped create the great housing meltdown of 2007/2008. Glenn Beck reports that Rahm Emanuel was on the board of Freddie Mac to the tune of $250,000 a year while that company’s books were being cooked and also had a fiscal relationship with the new GM Chairman, Edward Whitacre (corrected)…. and apparently Beck has been receiving threats for airing this story.

Update: This post is intended to bring readers  real-estate related information and reflects no affinity to the sources quoted.

Has The Housing Market Bottomed? And What About Dallas?

Dr. Mark Dotzour says we are at the bottom in most Texas cities, but I’m still Debbie Downer on this one. As is, apparently,  Scott Anderson, senior economist at Wells Fargo — who says (and I agree) there are still too many foreclosures out there and down the pike to be calling it bottom. Still, the NAR tries to keep us loaded with Prozac from second quarter ‘09 sales — up 3.09% — hello, spring is always a brisk market. As Wells Fargo’s Anderson says, there’s a shadow supply of homes out there: more foreclosures are expected to flood the California market, and  homeowners who have held back or held on may finally be throwing in the towel. Two problems I keep hearing from builders and Realtors: the new appraisal rules are asinine and stumping sales, and the banks still are sitting on those TARP funds. Except for the first-time home buyers, financing is tough to find for homes over $417,000.  I know that property is moving in our south of LBJ “bubble”, so the other day I went  north to Allen to see first-hand what it looks like up there. In a word, quiet. Very, very quiet.

I toured Wimberley Place in West Allen, Hillwood’s gorgeous gated community of 43 custom homes on hefty lots — three-quarters to one acre — with two swimming complexes, rec center, 34 miles of trails, tennis courts, nearby golf course. Think Southlake/Vaquero-esque: huge homes by builders like Steve Roberts, Bob Bobbitt, Crescent Signature, Rich Shipley and Tony Rossi. (And what I loved was a backyard where you didn’t see power lines ten feet out the back door. These lots have the shoulders to hold the 7500 square foot homes.) Talked to Tony briefly and asked him if he thought the market had bottomed. Nope. It’s slow, he said, because there is no sense of urgency in buyers. When they come up to a development — even a beauty like Wimberley — they want to see sticks and wood. It’s the herd mentality that helps sell homes and lots — the thinking that others are coming here, so we’d better get on with it. No one is thinking that way now. And if the market is recovering, the new appraisal laws are doing their damndest to quash it, along with constipated lending. Tony also said something very interesting that had not occur ed to me previously: we love it that our homes in Dallas are so affordable, the positive flip side of not having the huge bubble market that popped up markets like FLA, CA, Nevada and Phoenix. But now the banks want buyers to put so much down — 30% — to qualify for jumbo mortgages. Most people don’t want to sink that much cash into a home that is not going to appreciate like the dickens. So all this tough-love has furthered hindered sales and is contributing to the quiet I saw up in Wimberley. We have to get some attention in Washington and bring the tough love back center if we want true recovery in the housing market, or just more Prozac from Washington.

Dallas Real(ly Big) Estate: Plus Sized Furniture

Know how they have plus-sized stores for plus-sized clothes, plus-sized models, and plus-sized just about everything? Well this is from the “why didn’t I think of it” department: now they have  the Plus Sized Living Collection from Redcats USA , aka furniture specially designed for those who are of plus size.  Here are a few of the pieces launched this summer: The King Kong Chair holds up to  800 pounds (800?) with an extra-wide 38” seat, high backrest and side pocket cooler. Powder-coated steel frame and cushioned polyester khaki canvas compact design folds quickly and fits in an easy-to-carry 7”x41” bag, sets you back $99.99.

This I may actually need after dinner last night: an ergonomically designed computer chair with a 29″ cushioned seat, lumbar-support back, five legs with smooth-rolling casters and a weight capacity of up to 500 pounds. Set me back: $199.99.

My fave is the 5-Piece Beach Set: two 24″Wx38″H chairs — they support up to 500 pounds each, complete with a 64″Hx57″Diameter beach umbrella and
center table with insulated plus-sized cooler. Even more convenient, the steel frame folds into a 2-wheel tote with handle that the concierge can then carry for you while you consume what’s in the cooler. Price: $69.99

Then there’s the big C.A.T. Chair, an extra-large, heavy-duty powder-coated steel frame that holds up to 500 pounds. At $49.99, you’ll be the envy of the ‘hood.

The company makes other plus-sized products and medical products, but I just thought these might make interesting home furnishings for your next open house.

Dallas Second Home Real Estate: Troubles In Moonlight Basin

More signs that the luxury vacation home market is sucking very bad air: Moonlight Basin, a five year old Montana resort where many a Dallasite escapes to ski and cool off is facing foreclosure by it’s major lender, Lehman Brothers.

Do Land Leases Have Anything To Do With Texas Gold?

Tim posted a question on FB asking if, when the land leases on NorthPark Center  expire, the owner of the lease gets to keep the improvements — i.e. NorthPark. Then he got his answer: no. But it was a great question: I wonder how many people know that many major developments are erected on dirt not necessarily owned by the developer or the person who owns the improvement? In Mexico, for example, until very recently foreigners who bought homes there owned the structure but leased the land from the state. (Beach property is still available in Mexico only as a land lease.) Usually the land leases are extended, sometimes they actually run out at which point the developer/owner can negotiate to buy the dirt. This happened to a developer friend recently who bought a condo in California on a land lease — the lease was up sooner than he realized and all the owners had to scramble to fork over several thousand dollars to buy out their dirt landlord, an Indian tribe.  I am curious as to the origins of this and wonder if it has anything to do with oil? Do property owners like to hang onto dirt just in case of a Spindletop? Couldn’t that be done by maintaining the mineral rights?

Just What We Don’t Need In Dallas: The Condohotel

You’ve heard of these? They are jazzed-up hotel rooms — bed, glorious bath, plus kitchenette — more than the usual locked stocked minibar full of $50 wine bottles that retail for $9. There’s a sink, dishwasher and microwave. The million dollar idea here was that developers build these and sell individual rooms to investors who allow the hotel to use the unit for guests — rent it out — when the owner is not in residence. The sales pitch is the buyer will recoup investment costs and fees through the daily rental of the condo unit by the hotel. OK, but what happens when a city is over run with luxury hotel rooms so much that $500 per nights are going for $99 — bingo. No guests at your little Inn. Donald Trump was a big condohotel proponent, and his Chicago property is five-star. This concept never came to Dallas — at least not yet. Maybe we should be glad: some investors are now saying the developers misled them and violated securities law and taking the fight to the courthouse.

My Summer Staycation: In Dallas, Talking House Porn, Thanks To Ebby Halliday

If the economy has put a damper on your plans to explore The North Pole, Greece,  or Barcelona, and if the family jet is “having routine maintenance”, fret not. Staycations are the newest way to vacation because you never have to get on a grimy, germy commercial jet and leave town. (Who wants Swine flu?) Live it up in Big D! Ebby Halliday Realtors is trying to help and has four days left for its Summer Staycation Giveaway, for — just a sampling here — an overnight stay at The Mansion on Turtle Creek, a wine tasting for ten at Times Ten Cellars, dinner for four and mega fish oil boost at TJ’s Fish Market, memberships to the Crescent Spa for fab flat abs, a pampering five hours at Whole Foods Spa with healthy lunch (ask for the gum drops), and seasonal flower decor from Dr. Delphinium’s — remember the pumpkins? You can increase your chances of winning by registering once a day, every day, through August 7. And here’s a little freebie to get your fingertips moving. When you register, enter a DD (which stands for DallasDirt) before your first name (no pseudos or handles here) and you’ll automatically be entered into my special little ”private” contest which includes *lunch with me to talk House Porn the entire time, and a one-year subscription to the fabulous D Home Magazine. Click here to register.

*location: might be Dean Fearings, might be Mickey D’s; all depends on the market.

SOS: How Does Arkansas Real Estate Law Cover Meth Homes?

A friend is set to close on a piece of rural property near Eureka, Arkansas, Monday, with a “buy as is” contract sale. This week, the neighbors informed him the home may have been a meth lab. The owner, now deceased, was a paraplegic drug user. My friend has purchased the six odd acres as a country retreat — it holds a trailer home and garage. The agent is representing both the seller and the buyer.  Sellers disclosure statement made no mention of drugs. If it were me, I might do a bit more research on the drugs and possible contamination and ask for a delayed closing.

What do you think?

Update: I just found out it is illegal in 12 states (Arkansas, Arizona, California, Colorado, Idaho, Minnesota, Michigan, Nebraska, North Carolina, Oregon, Tennessee and Washington) for anyone to live in a former meth house before it’s been decontaminated, according to the National Alliance for Model State Drug Laws, a congressionally funded nonprofit that helps states set drug laws.

Dallas Morning News Updates Us On Champ d’Or On Denton County Prairie

Tucked into the Metro section yesterday was an “update” by Scott K. Parks making the astute observation that this week’s uptick in home sales is not much solace to Alan and Shirly Goldfield, the owners of “a very impressive mansion” in Hickory Creek. This property has sure had multiple partners.

Hi Scott, how are you? The uptick in sales this week, very aptly reported by Steve Brown, is happening because people are slashing the prices of homes and buyers are in the drivers’ seat. This is a rebound driven by first-time home buyers, that $8000 tax credit being one of the wiser decisions to come out of D.C. in this financial tsumani. But banks still aren’t lending, and the tough time getting jumbo money is really hurting the higher end home sales. Like getting a mortgage on a $25 million dollar mansion is pretty tough right now. You have to have a really great credit score. It’s just a lot better to have that cash in your bank account.

And Scott, thanks for giving D CEO credit for the cover story on Champs d’Or. That was a great story by a talented writer, Mark Vamos.  I appreciate all the info you got from that story and maybe my 8 blog posts on Champs d’Or. Oh, but you got a bit something wrong in your “What’s New”. Yes, the price has been lowered to $25 million (I thought it was $27.5, but hell, what’s $2.5 million and maybe the Goldfields are getting motivated) but that price includes a smaller spread of land than what was included in the former price of the estate, $65.5 million. But wait, in May of 2008 they were asking $72 million. I so hope they didn’t turn down any offers even within $20 million of that number. I know one seller who kicks himself every single morning because he turned down $7 million cash on a home priced at $9.9 last September.

Finally, I can see where the Goldfield’s would not like to think of their chef d’oeuvre as a tear-down, especially when they built a home across the street to live in while they constructed Champs. But come on, you have to admit –”Biggest Little Teardown In Texas” — cutest little way to describe that spread I’ve ever heard.