Category: Real Estate

Real Estate Market Stabilizes in Park Cities, Preston Hollow

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“A house that needs a lot of repairs isn’t attracting buyers. Buyers want to move in and throw a party that night.” -Kay Weeks

Real estate activity in Park Cities and Preston Hollow neighborhoods has begun to stabilize after a welcomed pickup during the first half of the year.

What that means for sellers is a seasonal slowdown, said Dave Perry-Miller agent Julie Provenzano.

“Upticks don’t really happen around the holidays in the luxury niche,” Provenzano said.


House of the Month – 3716 Binkley Avenue, University Park

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Courtesy Stevie Chaddick of Virginia Cook Realtors.

Traditional English charm, impeccable craftsmanship, and a premier location come together in this home offered at $1,420,000. The house has more than 4,300 square feet of space and features lightly-scraped wood floors and custom millwork in a design boasting a chef’s kitchen, three living areas, an office, three bedrooms, and three and a half baths — that’s including first-floor guest quarters and a master suite with a fireplace. The equally exquisite backyard has a stone patio, pool, and spa with waterfalls. The many extras include a utility room and butler’s pantry.


Damage Costs Tenants’ Deposit

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Damaged landscaping was the focus of Preston Hollow tenant lawsuit. (Courtesy photo)

Dr. Craig Schwimmer, founder of the Snoring Center, and his wife, Shanon, expected to get back much of the $16,000 security deposit they paid before moving into a million-dollar Preston Hollow rental. They didn’t.

After fulfilling their lease term and giving a 30-day notice to vacate the property, the Schwimmers moved out and waited for the homeowner to refund their deposit, half of which covered their pets.

Instead, the homeowners claimed excessive damage to the property and returned about 30 percent to the couple. So the Schwimmers hired an attorney.


Online Shopping Brings More Packages

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UPS’ Thomas Boughnon plugs information into
the software-controlled package delivery system
at La Villita. (Photo: Chirag Sainju)

Multi-family apartments are experiencing a greater volume of package deliveries as their residents increasingly go online to shop for clothing, electronics, groceries, and other products.

Lincoln Property Company-managed, upscale Armstrong at Knox, located on the edge of Highland Park, receives 585 packages a month for 165 apartments, while a much larger Lincoln property, the 740-unit La Villita in Irving, gets a whooping 1,800. With the holiday spike, volume averages 21,000–24,000 packages a year.


Dallas Gets Third Blue Star Marker

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Tim Mallad, Dana Harkey, Dr. John Gremmels, and Harriet Gibbs. (Courtesy Presbyterian Communities)

The T. Boone Pickens Hospice and Palliative Care Center, 12477 Merit Drive, now has a Blue Star Memorial marker – only the third one in the city.

“This is a living tribute that honors all of the men and women who served, are serving or will serve in the United States armed forces,” said Tim Mallad, CEO of Presbyterian Communities and Services, which owns the center.

During the dedication ceremony in October, Mallad thanked the Designers and Diggers Garden Study Club for raising the funds for the marker and club member Harriet Gibbs for suggesting the hospice as its location.


House of the Month: 3608 Lexington Avenue

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(Courtesy Rogers Healy)

Priced at $9,995,000, this stunning traditional home is now available. With seven bedrooms, one half and eight full bathrooms, the 14,400-square-foot house situated on more than half an acre exudes elegance in every detail. Completely remodeled from 2016–17, the open-concept floor plan provides ample space for entertaining, with top-of-the-line modern amenities. The home features elevator access to all three levels — including the 2,500-square-foot playroom on the third floor. The backyard oasis features lush landscaping, mature trees, and a breathtaking pool and spa.


House of the Month: 3449 Milton Avenue No. 3, University Park

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(Courtesy Coldwell Banker) "Read More" to view the full gallery.

Priced $849,000, this is an exceptional opportunity for a move-in ready transitional designer townhome near SMU and Snider Plaza.

Built by Robert Elliot in 2015, this immaculate new construction is light and bright. Featuring 3 bedrooms and 3 bathrooms, the 2,691-square-foot home has an open floor plan, living/kitchen area with large windows, plantation shutters, and a modern fireplace.

There are dark wood floors throughout and a spacious gourmet kitchen with Ann Sacks tile, white stone counter tops, and stainless-steel appliances. The master bedroom has beautiful windows, a luxury bath, and two walk-in closets. The property only connects on the west side and features a comfortable balcony on the other.