Giving the middle finger to Uncle Sam?

I've discussed the glaring discrepancy between a property's true market value versus the Dallas County Tax appraisal before. Why I am bringing it up again? Because of this.

4800 Preston Rd. - House of John and Lyn Muse. Valued on DCAD for just over $30 million. (Land is worth $21,175,000)
Description: 8 year old house with 25,000 sf, with all sorts of cabanas, guest quarters and greenhouses sitting on 7.7 acres and backs to Exall Lake.

4101 Beverly Dr. - Home of Edwin Cox Trust. Valued on DCAD for almost $22 million. (Land is worth $21,832,500)
Description: 97 year old home with 20,000 sf, pool, tennis court, etc. all on 6.6 acres and backs to Exall Lake.

And then I click on 4100 Beverly Dr. and 4101 Mockingbird. Home of Dallas Country Club. Total value on DCAD is just under $10 million. Wait. What? Am I reading this right?
Description: One of the most prestigious country clubs in the country with roughly 10 buildings that total around 150,000 sf of air conditioned space sitting on 113 acres in one of the most expensive neighborhoods in the country.

In summary, according to DCAD, Ed Cox and John Muse's combined 14 acres of dirt is worth approximately $43 million. Dallas Country Club's 113 acres and 10 buildings is not even worth $10 mil. Do country clubs fall under the church and school categories when it comes to property taxes? Am I missing something here?

Bueller...Bueller....Anyone?

You Be The Judge

I almost didn't post this because I don't want this agent to think I am picking on him. He's an incredibly successful agent and works with many professional athletes including Nolan Ryan and his family. So he knows what he's doing when it comes to selling high end real estate. But check out these pictures for his listing on Beverly Drive.

Front. Nice picture. No complaints here.

I'm pretty sure the kitchen is a little bigger than this. But from the picture you'll never know. Also looks dark.

Living room looks small because of the angle. Again, I'm sure it's not but pictures are all that people are looking at while online.

I'm not sure what this room is. Sitting room? Library? Whatever room it is it looks too dark.

Picture of a bed. Can't see the flooring and looks like a typical $150,000 home in Garland. This home is on Beverly Dr. people!

I'm really not sure what's going on with this angle. Is their headboard that ugly? I assume this is the master bedroom but you don't get the sense it's all that big in this picture. Do you?

Odd angle and again just doesn't do the space justice.

Seriously? You can't move a few things off the desk before snapping this shot? I have moved sofas, tables and beds in order to get the perfect picture. I don't think I'm being too picky here.

Gives a whole new meaning to the term "postage stamp yard". The lot is small (70x145) so I guess this is all you're going to get anyway. Not sure I would post this pic seeing as how buyers love them some backyard space.

My point in posting this particular listing is if you only had these pictures to look at (excluding the front picture and didn't know it was on Beverly Dr.) would you really think the asking price of this home is $3.4 million dollars and the home has over 7,100 sf? My clients call me hours after listing their home already telling me they want me to retake pictures of their guest rooms or living rooms because they don't care for the picture I took. And I'm completely fine with that because my goal is to make sure they are happy and content. But to be honest it doesn't happen often because I'm an awesome picture taker-er. Yet this seller is content with these pictures? Am I being too picky here? Compare with this picture and let me know which one you would prefer.

FSBO Takes Me to Task on Pricing Strategy

Seems I caused quite a stir over at Park Cities People blog Overheard. I may have been a little cheeky with my thoughts on the pricing strategy of a home on Beverly Dr. in Highland Park but I certainly didn't expect this type of reaction from one of the homeowners and their friends. You see, they had their home for sale by owner for 2 months at $2.25 million and recently listed with a Realtor for $2.495 million to cover their closing costs and commissions. Am I stupid for thinking a buyer will see right through this?

Check out the post. But more specifically, pay attention to the comments section. Did I really need to respond to their ranting? No. But you should know by now I can't resist a good argument.