Archive for December, 2011

These Neighborhooods Just Got Better: Preston/Park, Lower Greenville, Walnut Hill & Central?

Posted by    |    December 31st, 2011 at 5:15 am

REI and Trader Joes, Too?

Why? Because these are the lucky ‘hoods that get the first Trader Joes in Dallas. I am so psyched. My dogs are so psyched. Teresa Gubbins and others report that Trader Joe’s has announced two new locations for stores, one in Dallas and one in Plano.

The Dallas store will open on Lower Greenville Avenue where the Arcadia Theater once stood. The Plano store will open in an old Kroger location at Preston and Park, in the same shopping center as outdoorsy store REI.

Speaking of REI, I have been meaning to tell you that one is also coming to the primo shopping center at Walnut Hill Lane and Central Expressway. I learned this at a holiday party and word was Trader Joes’ might still open a store there, too. But the guys in Preston Hollow are pretty psyched about having an REI so very close by! (more…)

Dallas Real Estate Surprise of the Year: Troy Aikman? Mt. Vernon? Ellen Terry?

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

Who’d have thunk it? Way back in January, we were gearing up for our very first Super Bowl ever, and everyone was trying to lease their home out to the highest bidding celebrity. Troy Aikman was on the cover of D Magazine, “The football god on marriage, loss, and how he lucked into broadcasting the biggest game on earth.”  I had been hearing from early November on that Rhonda Aikamn bought a house in Preston Hollow. I thought, optimistically, it was maybe an investment prop? Then I heard more and confirmed the sad news: the Aikmans were splitting up. Troy did not put his house on the market until spring, listing it with Allie Beth Allman for $27.5 million. No wait, $24 million. Yes, it had been entered wrong in MLS. The home is still on the market, still at $24 million.

What do you think the biggest real estate surprise of the year was in 2011?

— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com

Much to love about Dallas: Food and drink, shopping and a little bit of history – 2011-Dec-27 – CultureMap Austin

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

Travel and the winter holidays go hand in hand. And some times this involuntary travel can take us to places we deem less than exciting — like Dallas. I have nothing against Dallas, and I always have a great time when I go, but it’s not Honolulu, Paris, New York… you get the idea. So, if the holidays take you to Big D, check out a few of my favorite shopping, eating and coffee spots below for an atypical Dallas experience.

Check out the spots and read more at Much to love about Dallas: Food and drink, shopping and a little bit of history – 2011-Dec-27 – CultureMap Austin.

North Dallas’ Midtown Park (Valencia) project sold to investor | Dallas-Fort Worth Commercial Real Estate News – Business News for Dallas, Texas – The Dallas Morning News

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

A huge North Dallas development that’s been stalled since the recession hit has new owners.

The almost 80-acre Midtown Park project along Meadow Road just east of North Central Expressway was purchased out of receivership by a Missouri-based property investor.

A partnership set up by the Kroenke Group acquired the development, which was planned as an $800 million mixed-use project.

“We purchased [the property] for an investment and are currently evaluating our plans,” R. Otto Maly, president of Columbia, Mo.-based Kroenke Holdings, said Tuesday in an email.

Read more at North Dallas’ Midtown Park project sold to investor | Dallas-Fort Worth Commercial Real Estate News – Business News for Dallas, Texas – The Dallas Morning News.

Big D or No? Why Did Pilar Sanders Look at a House in Rockwall, Step Daughter Weighs in on (Non?) Divorce

Posted by    |    December 29th, 2011 at 11:53 pm

Look, I want them to stay together, I really do. Comes this story in the Dallas Observer where Pilar Sanders says she “is committed to their marriage.” Wow. Good for her. For them. Then today, TMZ — and as I have said before, God knows where they get their stuff — reports that Deion’s daughter Deiondra (she’s from a previous marriage) seems to be accusing Pilar of not being truthful, or something:

“…she GOES OFF — claiming Pilar straight up LIED when she claimed she found out Deion filed for divorce on TMZ.com.

Deiondra writes, “#HowYouDidntKnow but yo boxes have been packed for weeks now.”

She adds, “HowYoTopPriorityBeen yo marriage and yo kids when u flying out to see other n**gas … yeah we know.”

Deiondra added, “All u had to do was be a supportive wife. Only thing u ever cared about doing with my dad is reality shows.”

Still does not explain why Pilar (and a friend, Donna) looked at this house in Rockwall about a month ago? Or maybe it does. Despite what Donna said to Rockwall News editor J.J. Smith, she did look at it, memo pilar edited1, sounding interested because they “had a situation”. After I heard that Donna, Pilar’s friend, had contacted the Rockwall News saying that what I wrote was untrue, I dield her up. Did they ever see it? She told me yeah, they saw it, but they really didn’t like the house and it was really a mess at the time.  (Sellers were moving out an occupant.) She felt the sellers were maybe using Pilar’s name to help sell the house. Seller thinks what Pilar maybe liked best was the owner financing.

What’s not to like about an 11,000 square foot home with two master suites designed to look like Ceaser’s Palace? There’s an indoor jacuzzi splat in the middle of one master and, Donna told me, bullet proof glass between the two rooms!

She said that’s not Pilar’s style, no way!

Sounds to me like the PERFECT house for a feuding couple!

— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com

Looks Like The Stoneleigh Residences Are Really Going to Get Going in January. Really. Truly. Finally.

Posted by    |    December 29th, 2011 at 5:15 am

I had to laugh when Steve Brown wrote about the Stoneleigh last week right before Christmas. “More than three years after work stopped on the project,” he said, “the owners of the partly built Stoneleigh condominium tower in Uptown are planning to restart construction soon.”

Really? See this photo? I took it last September. When construction was supposed to start.

Well, maybe I was premature. Mehrdad Moayedi, or Saint Stoneleigh as I call him, bought the unfinished project out of bankruptcy in early 2010 for $4.55 million. Recall how he beat Jonas Woods’, formerly of Victory development eons ago — who bid $4 million for the bankrupt Stoneleigh Heritage Residences. Moayedi’s Centurion American (CTMGT) offered/paid $4.55 million for the shell.  He hopes to begin construction in January, or so he told Steve, who says, and I agree, that this will erase the only Dallas condo eyesore leftover from those financially gloomy days. (more…)

S&P/Case-Shiller’s .01% Decline For Dallas Real Estate Values Might Make You Over-Imbibe on New Years Eve. It Shouldn’t

Posted by    |    December 29th, 2011 at 5:15 am

Our glorious fourth quarter of 2011 showed more national declines in home prices.

Data through October 2011 showed decreases of 1.1% and 1.2% for the 10- and 20-City Composites in October vs. September. Nineteen of the 20 cities covered by the indices also saw home prices decrease over the month, even San Francisco!

Grrrrreat.

“There was weakness in the monthly statistics, as 19 of the cities posted price declines in October over September,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices. “Eleven of the cities and both composites fell by 1.0% or more during the month.

Guess who did not: Dallas. Our home prices are down a mere .01 percent over September, 2010, seasonally adjusted.

Prices increased in 4 of the 20 Case-Shiller cities in October, seasonally adjusted (which means taking into account/balancing higher volume buying seasons). Those cities would be Washington D.C., Charlotte, Atlanta and Denver. Prices in Las Vegas are –ouch —  off 61.3% from the boom peak, and prices in Dallas only off 8.8% from the peak, a.k.a.good old days. (more…)

Tuesday Two Hundred: 2450 Mercifully Gorgeous Square Feet on Mercer, Dallas Real Estate News

Posted by    |    December 28th, 2011 at 5:15 am

I am being sooo lazy this week, but I could not stay away from the keyboard when I saw this home. Oh. My. God. I honestly almost called Vicki White at Keller Williams to tell her she had a typo on the price — but no! This is the real deal: 2550 beautiful and renovated square feet for $289,900. The split-level home is located on a gorgeous, treed one-half acre in Lindenwood Park, the “L Streets”, and has been totally updated. Built in 1963, you get those lofty Cathedral-style ceilings that were a precursor today’s soaring heights in every new construction. The home has four bedrooms and three baths, and is very light and bright. Get this: master and one bedroom on the first floor! Other updates include the kitchen, HVAC, wood floors and carpet. And yes, Virginia, there is granite in the kitchen and all baths. Want a real treat? An oasis awaits right outside the back door, and you are only a short run from White Rock Lake or Casa Linda.

— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com

Housing the Echo Boomers – Next Big Real Estate Opportunity ? – Forbes

Posted by    |    December 28th, 2011 at 5:15 am

Tim Smith blogs at Forbes –

Are you an investor in real estate?  Are you a real estate agent?  Are you a homeowner looking to sell?  Are you trying to rent a nice apartment complex?  If you have any interest in housing, you may have cringed when reading about the Millennial attitude toward housing.  However, whether Echo Boomers rent or buy, they will need housing, and there are 80 million of them.  In other words, recognizing their demographics and preferences will separate the winners from the losers and that has huge financial implications in a generation as large as the Echo Boomers.

Read more at Housing the Echo Boomers – Next Big Real Estate Opportunity ? – Forbes.

Increasing State Gas Taxes Insufficient To Meet Road Projects’ Costs | Planetizen

Posted by    |    December 28th, 2011 at 5:15 am

Inflation and rising CAFE standards mean that there is a finite amount of money Missouri Department of Transportation can hope to raise from a one-time increase in the gas tax above and beyond the revenue it currently earns….But, without additional sources of funding such as tolling revenue (or another major gas tax increase), MoDOT will be unable to invest in any other major projects for a long time to come.”

Read more at Increasing State Gas Taxes Insufficient To Meet Road Projects’ Costs | Planetizen.