Archive for June, 2011

The Magic Elixir of Residential Real Estate

Posted by    |    June 30th, 2011 at 11:48 pm

Back at Washington & Lee University, where I first met Dave Perry-Miller, there is a breathtaking colonnade built in the 1820s that never fails to impress. Perhaps that’s where Dave developed his love of architecture. After graduation he came to Dallas and started in the residential real estate business, and early on he focused on selling homes that were well-designed, historic, special. It paid off and the agent became a company: Dave Perry-Miller & Associates. Back in 2007, Dave got “an offer he couldn’t refuse” and sold his company to Ebby Halliday. He now had a permanent listing on Easy Street, but a funny thing happened: he went back to being an agent. You can see his story beautifully told here.

Perry-Miller is not alone. Ellen Terry also sold her company to Ebby in 1995, and the petite dynamo is full time selling property. Allie Beth Allman may have her name on the letterhead, but husband Pierce runs the company because Allie Beth can’t escape “the adrenaline rush” of closing a big deal. For years realtor Dan Mahoney and his wife Lindy had their own firm in Highland Park Village; they sold to Robbie Briggs of Briggs-Freeman and now prefer to sell. So, what some people see as a tough job with long hours and weekend showings, these “name” realtors (and I could add more, like Virginia Cook, David Griffin, etc.) can’t get away from the thrill of the closing. The sense of excitement each time a house sells must be intoxicating. While filming Perry-Miller’s elegant profile, we had to keep stopping because Dave’s phone kept ringing and God forbid he not answer it. Each time he would apologize, grab his cell, speak quickly in hushed tones, and then return out of breath. “So sorry,” he said. “Big deal cooking. Had to take that. But I’m ready to shoot now.” At least until the phone rings again.

3405 SAINT JOHNS DRIVE – HIGHLAND PARK – DRAMATIC PRICE REDUCTION

Posted by    |    June 30th, 2011 at 5:15 am

3405 Saint Johns Drive – Highland Park – Texas

NOW $1,695,000

MLS 11322993

Reduced a full $230,000 from the original listing price, the home is now being offered at approximately $500,000 below the total cost when it was built from the ground up in 2004! (more…)

ARE DOCTORS KEEPING PATIENTS FROM HOME OWNERSHIP?

Posted by    |    June 26th, 2011 at 5:15 am

Mortgage lenders, Realtors, and their clients, too, are learning the power that the medical profession has over credit scores.

Many doctors’ groups, labs, hospitals and such expect their patients to instantaneously cough up whatever their medical insurance carrier doesn’t.

When there is even the slightest delay, they turn the account – regardless of the size of the balance that’s remaining – to a collection agency, and that occurrence is immediately reported to the credit agencies. (more…)

Many Texas Salespersons & Their Brokers Appear to Be in Noncompliance

Posted by    |    June 24th, 2011 at 5:15 am

For as long as I can remember, at least in the State of Texas, there have been real estate salespersons — those with a Texas Real Estate Salesperson License — who have done their best to imply that they have the same authority as those with a Texas Real Estate Broker’s License; that they own and operate their own real estate brokerage business.

The problem is that as a result the public is duped.

The Texas Real Estate Commission issued new regulations in an attempt to force licensed salespersons to adequately identify for the public the broker who is responsible for them.  Signs, business cards, print advertising and the like need to reveal that information.  (more…)

Great Statistics on Dallas’ Growth/Strength

Posted by    |    June 22nd, 2011 at 5:15 am

Texas leads the nation in job growth—with Dallas-Fort Worth coming in No. 1 and Houston right behind us.
 
Dallas leads the nation in multifamily deliveries
 
Last year the North Texas market set a record for absorbed multifamily units—the highest calendar year total in 10 years
 
Since April of 2010 the state has seen an increase of 254,000 jobs and year-to-date job gains in Dallas-Fort Worth total 63,400

A DIFFERENT TWIST ON STAYING COOL CHEAP

Posted by    |    June 22nd, 2011 at 5:15 am

Just before we had a new high efficiency air conditioning system installed to replace the old one, I bought a window unit for our bedroom.

I figured that way, as long as we had power, we’d at least have one room to hibernate in when the big system was down.  Afte rall, you can’t see the thing from the street since the master bedroom is on the back side of the house.

Well, we discovered something interesting. 

We can turn the central unit off entirely before we go to bed, fire up the window unit, then close the bedroom door.  The house stays cool enough throughout the night and morning to keep us from having to turn the central unit back on until after lunch.

This savings has been dramatic.  I pass it on to you for your consideration.

BILL CHERRY, REALTORS

DALLAS – PARK CITIES

Since 1964

214 503-8563

THE 30-SOMETHING REALTORS

Posted by    |    June 20th, 2011 at 5:15 am

Some years ago when I had only been in the real estate business for a few years, a writer for the Reators’ magazine called and wanted to interview me — pontificate about how to succeed.

I remember being flattered that anyone would think a kid in a market the size of Galveston, Texas would have any thoughts or advice that could benefit others — at least not advice they hadn’t already heard from seasoned longtime Realtors. (more…)

What the Vacuum Cleaner Repairman Taught Me

Posted by    |    June 18th, 2011 at 5:15 am

Took our Sears canister vacuum cleaner to the repair shop near our house.  The off-and-on-speed switch in the handle was bad.

The owner told me that it wasn’t like my mother’s old Hoover.  “Vacuum cleaners today are made in Korea and China and other far off places,” he said.  “They aren’t made to last more than a couple of years.  In fact after a couple of years, we can’t even get parts for them.” (more…)

"What do you wish you could change about the real estate industry? – TEXAS REALTOR MAGAZINE

Posted by    |    June 16th, 2011 at 5:15 am

Texas Realtor is a monthly magazine published by Texas Association of Realtors for those of us who are members.

This month the magazine queried six members, five women and one man.  The question was this:

WHAT DO YOU WISH YOU COULD CHANGE ABOUT THE REAL ESTATE INDUSTRY? (more…)

DFWREimagined Articles Summary 6-1-11

Posted by    |    June 2nd, 2011 at 5:15 am

Quote of the Week
“Place matters anywhere in the world. Place is predictive of behavior & the future of the people that live there.” @SimsRon of HUD”

Fact of the Week
GenY accounts for 30% of US population Baby boomers only 25% even bigger than the boomers, who are now reaching senior ages

Transactions
Downtown’s Harwood Center tower getting a redo
Coppell industrial complex is changing hands
Prime Preston Center property sold to investor
Garland’s Harbor Point development sold
Sheraton North Dallas Purchased
Wal-Mart to Open Two Neighborhood Market Stores in Dallas
Loan on 60 Story Comerica Bank Tower Transferred to Special Servicer
Viridian in Arlington — Dirt to move on 2,300 acre, mixed-use Arlington site
South Dallas Transportation HUB Buildings Sold
Frisco’s New Development with Forest City (more…)