Proof That Pictures Can Make All The Difference

I recently listed this property at 1600 Abrams Rd. in Dallas. The "Before" pictures were taken by the Realtor that previously listed the property. The "After" photos were taken by yours truly. As you can see, great photos can turn a property from "blah" to "Wow!". Some agents simply don't take the time to snap good photos. Something I've never really understood.

It's also important to note that this home was vacant so I had the property staged. Staging is an absolute MUST in today's real estate market. However, I'm not so sure about staging a property with pets....but furniture is a definite must have. Props to Kira Sauer of Bliss by Kira for doing a great job staging this wonderful home!

Sales Statistics For January thru May: A year-over-year comparison

I wanted to see how the YTD (Jan. - May) sales numbers for 2011 compared with last year's sales numbers. And since we all know there was that little "Buyer's Tax Credit" thing that falsely inflated our sales numbers for 2010, I went back to 2009, as well. So take a look and let me know what you think.

The first thing that sticks out to me is the 9% drop in the number of sales for Area 12 from '09 to '11, yet during the same time Area 12 has seen roughly a 25% increase in average sales price. This is intriguingly coincided with an almost 20% increase in DOM. I'm at a loss as to how to explain this. So perhaps some of you stats geeks out there can help out.

Area 12 (East Dallas/Lakewood/White Rock Lake)

Year # Sales Sales $ $/sf DOM

'09 707 $221,465 $118 98

'10 751 $229,455 $124 93

'11 648 $276,756 $134 117

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Area 11 sales have increased over 50% during this same time period in 2009, yet from '09 to '10 the sales prices dropped 14%, only to increase slightly in 2011. Maybe this means North Dallas and Preston Hollow hit the bottom? If so, aren't you mad you missed out on some great deals?

Area 11 (North Dallas/Preston Hollow)

Year # Sales Sales $ $/sf DOM

'09 152 $842,824 $217 137

'10 217 $728,165 $187 162

'11 232 $761,022 $192 146

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Sales in the Park Cities have increased a stunning 80% since '09, with a modest 8% increase in average sales price. This seems like a solid upward trend. This seems much easier to interpret than the other two areas.

Area 25 (Park Cities)

Year # Sales Sales $ $/sf DOM

'09 161 $1.049M $292 136

'10 275 $1.072M $298 143

'11 291 $1.133M $309 127

Conservation Districts vs. McMansions: Which is Better?

These two homes are located on Richard Ave. in Vickery Place. There are many more homes that looks just like these scattered throughout Vickery Place yet the Conservation District doesn't seem to do anything about it.

In the never ending debate over which is better, bulldozing old homes to make way for McMansions or encouraging renovation of older homes with "character", there never seems to be hard data to clearly support either side. What I will say - bluntly, cuz that's how I roll - is that Vickery Place should have NEVER been allowed to be a Conservation District.

You tell me, are these homes increasing Vickery Place's property values more than if a $500K+ McMansion were to be built on the very same lots? (Yes, I know a builder can still build in Vickery Place, but not without a bunch a red tape and getting approval from a biased Board.)

If you think McMansions ruin property I suggest you talk to residents of Preston Hollow, Park Cities, Lakewood and Lakewood Heights. They don't seem to be complaining too much about their property values.

5331 Ridgedale Ave. in the M-Streets

Immaculate M-Streets home with fabulous updates and energy features. Granite counters,maple cabinets,Anne Sacks glass tile backsplash and breakfast area overlooking sparkling and heated saltwater pool.Bedrooms are huge and split.Spacious master has WIC and bath has marble and travertine finishes with jetted tub.Guest quarters has half bath and 1 car garage is newer frame with room for fridge.New AC, radiant barrier in attic, landscaping in '08!

5331 Ridgedale Ave. - $349,900

(Click on a picture for a larger view)


Living Room



Dining Room



Dining Room



Kitchen



Breakfast Area



Master Bedroom



Master Bath



Guest Bedroom



Guest Quarters


Saltwater Pool



Saltwater Pool

More details:

Description: 2 bedrooms, 2 baths
Square Feet: 1,242 main house + 130sf guest quarters with half bath
Garage: 1 car detached
Fireplace: Gas
Foundation: Pier & Beam
Utility: Stackable W/D
City: Dallas
County: Dallas
Zip Code: 75206
Schools: DISD
Year Built: 1938

To set up a viewing please contact Jeff Duffey. Cell: 214-507-2878 or jeff@duffeyhomes.com.

M-Streets & Lakewood Sales Stats Year-to-Date

Area 12, aka East Dallas, encompasses WAY too much area in my opinion. Search for homes in zip codes 75214 and 75206 and just see how many homes come up. Anyway, M-Streets and Lakewood are also affectionately known to Realtors as Area 12, Sub-areas 6 & 7, respectively. Think areas roughly South of Mockingbird and North of Gaston; East of 75 and West of White Rock Lake. Enough of that, here's what I found out.

Number of homes sold: 66 (94)
Avg. price/sf: $178.53 ($175.57)
Avg. sales price: $416,985 ($393,812)
Avg. days on market: 80 (74)

*2007 statistics for same time period in ( )

Apparently South of LBJ is showing similar not-so-hot results when it comes to number of homes sold over the same time period compared to one year ago. East Dallas posted a 30% drop in number of homes sold but, just like Preston Hollow, boasts a higher average sales price with a 6% increase. Check out all the fun 2007 and 2008 numbers for yourself.

Lakewood Whole Foods Caves to Handful of Naysayers

While the majority of residents remain clueless and will never know what was to be. Read other blogs posts about the matter here and here. Whole Foods had designed a gorgeous building that would have been attractive from all corners of Richmond, Gaston and Abrams. But as of 2/14/08 they have decided to renovate the old Minyard building whose backside has been a disgrace to the neighborhood for many years. But I guess the crotchety Lakewood residents who killed this deal before it ever left the ground know better than the reknowned architects WF chose to design this wonderful building. To put it plainly, this was Lakewood's one and only shot at having a true crown jewel. And I live within walking distance of the site so I certainly have a strong opinion on the matter.

One day I hope to get permission to reveal the actual plans they drew up for the space. They are simply stunning and would have spruced up Lakewood exponentially. Now I know why people scoot over to the Park Cities or Preston Hollow once they can afford it.

This reminds me of when I was in graduate school at UNT in 2001. This was the year the football team went 0-5 then turned the season around and ended up in a bowl game for the first time in 45 years (or something like that). During the 0-5 time the student body voted AGAINST raising tuition to support a new football stadium. I taught some Kinesiology classes and asked the students what they thought of this. UNT is known for their musical prowess so many weren't surprised, but one student spoke out against the raise in tuition and our conversation went something like this.

Me: "Aren't you on a full music scholarship?"

Her: "Yes"

Me: "So then what do you care about a tuition raise to benefit a new football stadium if you're not technically paying for it?"

Her: "????????"

So what's my point? Stupidity wins over logic and practicality more often than not. And Lakewood has a few stupid residents like my former student and is a loser because of this stupidity.

Seriously. Someone Buy Me! I'm a New Home in Lakewood

I've been on the market since August of 2005. Yeah. You read that right. I've been on the market roughly 2 years and 5 months. That's like 880 days if my math is correct. I started out asking $1,072,000 and now I'm down all the way to $939,000. Wow. Someone please buy me.

My notes: The builder is Spirit River custom homes which is owned by Michael Campbell (or at least partly owned by him I believe) who is a great guy and Realtor. He's actually a past president of our local real estate association so he knows how to sell real estate. I haven't seen the inside of this house but I'm getting quite curious as to what is scaring buyers so much from making offers. No matter what the issue is, the market is telling this house it's not worth the asking price. Sellers take note. This is one of the risks of overpricing in the beginning of a listing period.