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Will This Reduce Property Taxes on a “New” House?

Is it already Friday? Busy real estate week, what with all the celebrations surrounding Ebby Halliday’s 99th birthday — here she is with Mayor Leppert celebrating Wednesday morning down at City Hall, this after dancing with The Pointer Sisters Monday night, and a huge Tuesday bash with T. Boone Pickens. Best news of all: I think I’ve figured out why some homebuilders are harvesting body old home parts.…

Ebby Halliday Gets Into the Luxury Home Publishing Biz — for Good Reason

Tim, here’s what the magazine looks like. It’s really nice. As your real estate reporter, I was at the launch party Thursday night and it was hoppin’…

D Sale of the Week: Classical Living in Munger Heights House

It’s not just a great house and a steal deal. It’s the home of former WRR  daytime host Karen Moyer. Karen melodically beautified our audible world, and she has great taste in classical homes. But now, seriously, she needs to sell and sell ASAP…

Nicky Sheets Pleads Guilty to Tax Evasion

You may not be as surprised at this news as I was because, well, just a few weeks ago…

Hank Paulson: “Glad I was Treasury Secretary. And I’m Really Glad I’m not Treasury Secretary Anymore”

ABC News’ Jake Tapper sent me a link to his exclusive interview with former Treasury Secretary Henry Paulson for the Dartmouth Alumni Magazine — and if you over look the Alma Mater stuff,  it’s a great interview as Paulson admits he did not see the housing bubble precipitating economic collapse.

Good Time or Bad Time to Enter the Dallas Real Estate Game?

Great question you pose there in leading off, Jason, with that nice link to Steve Brown’s story on how we maybe shouldn’t jump for joy that D/FW foreclosures have fallen to their lowest levels in three years. (There’s a four million dollar foreclosure not too far from moi!) There are programs out there trying to keep folks in their homes, like the Mortgage Banker’s Association’s new forbearance program I wrote about yesterday. First American CoreLogic reported yesterday that one out of every four Americans is underwater in their mortgage. Well, I was at a Metrotex Association of Realtors event last night and learned, thank you Jesus,  we are not as bad as the national stats: about 12 to 15% of D/FW homeowners may be underwater, but our days on the market are far shorter than the national average. Then there’s all this confusing data coming in — our values are up, our sales are down. There’s a few other things to consider as well, so stay tuned to DallasDirt -- I’m trying to make sense out of all of it and, of course, get you some decent House Porn.

Meet The Man Who Saved The Stoneleigh Residences

Scooped them right out of bankruptcy, has already sold the penthouse. I’ve dubbed him Saint Stoneleigh on DallasDirt.

RE: Frisco’s New Affordable Housing Projects

Krista,  folks up in Frisco sure have some strong feelings about that Section 8 Housing.

Preston Hollow Home of Nicky and Eleanor Sheets Hits the IRS Auction Block

And guess who was buying?

The Funeral of Carolyn Shamis: The Girl Can Still Throw a Party

Dallas real estate icon Carolyn Shamis died on February 5, and her party funeral drew out a Who’s Who of Dallas real estate last Thursday. Carolyn Shamis would not have wanted it any other way.

Real Estalker Shares the Love With DallasDirt on Deion Sanders’ Azure Pad

I plumb forgot to tell FB about Deion Sanders’ $7,500,000 penthouse condo at the Azure, but seems like Mama took care of it for me. (I heart Mama!)

NBA All-Star Celebs Offer $100,000 For Sexy Dallas Dirt

The deets are over on DallasDirt and oh Tim, I think I know who might be coming in on all those private jets you are watching. Go get you some Dallas real estate news.

Carolyn Shamis, Dallas Realtor Extraordinaire, R.I.P.

Just heard that Carolyn passed on last night in her Turtle Creek home, details soon on DallasDirt. (Not liking this week at all, folks.)

Dredging Up Dirt on the Stoneleigh Purchase and More

Tim, I posted the good news (and price) yesterday afternoon – that a division of Carrollton-based Centurion American Development called CTMGT LLC beat out Jonas Woods to buy up the shell of the Stoneleigh Heritage Residences out of bankruptcy.  Hoping to talk to the new owners later today so stay tuned… but the real buzz on DallasDirt seems to be, will the internet make Dallas Realtors extinct?

Eight Hours Left To Pay Your Property Taxes, Or Else!

Today is the April 15th equivalent of tax day if you own property in Dallas County and do not escrow taxes through your mortgage company. And I have the place where you can click/pay by credit card… along with more real estate news… on DallasDirt.

Pricey Rentals For All-Star Partiers

Look for a lot of cash to change hands–and a whole lot of “non-family-style” hard partying to happen–when DFW hosts the NBA All-Star Game Feb. 14. Last night on WFAA-TV, Dale Hansen predicted lines around the block at local strip clubs next month, for example. We’ve heard that Realtors are scrambling to locate super-luxe party houses in non-residential areas–quick freeway access preferred–for short-term rental to celebs and fans that weekend. Dallas Craigslist is going wild listing special All-Star game rentals ($3,500 a night for a two-bedroom condo in Oak Lawn, $2,250 for a four-bedroom “contemporary,” $2,000 for a one-bedroom downtown, etc.). And the owner of one local town-car outfit says to expect a going rate of $1,500/day for “small” limos during the festivities.

Tom Hicks Sheds Aspen-Area Vaca Home

And over at DallasDirt, I’d like to hear from someone who’s been there, maybe skiied in and out of the 11,000 square foot spread…

Good Ole’ Dallas Homes: Which is Better, New or Old?

Better craftsmanship from the Greatest Generation or solidly sustainable homes coming off the assembly line now? Get into the discussion at DallasDirt.

City Staff Urges Ethics Exemption For Tax Districts

So. Based on what the DMN had to report:

1. The city of Dallas gave three private developer groups governmental powers through the creation of “municipal management districts.”
2. City staff, and the economic development committee, decided that greater power doesn’t come with greater (ethics) responsibility.

It looks like the issue isn’t settled. Councilman Ron Natinsky, who was as enthusiastic as any member of the council in authorizing these districts, promised to take his concerns to the full council:

“We’re exempting our appointees to the MMD boards from all [city] ethics responsibilities … I think it sends a somewhat bad message that we’re approving the appointments of people to a board and then we just totally said you don’t have to – in any way, shape or form – abide by the city’s ethics codes.”

Advocate Produces Film on Leppert and Elm Place

The acting needs some work, and the wardrobe and the script need some little work, but Jeff Siegel over at the Advocate, has made himself a little movie poking fun at our mayor.

I know, I know. But let’s see you do better.

Dallas City Hall: Good Investment Opportunity

An alert FBvian snapped a pic of this sign hanging on a pole on Live Oak, near Good-Latimer. If we all go in on it together, looks like we can get City Hall for a steal. (I called the number and got the voicemail for some guy named Alex.)

Dallas Retail Outlook: Gloomy

Herb Weitzman, the dean of local retail real estate, tried to stay upbeat this morning at his annual review of the state of the market.  However, there wasn’t much news for the standing-room only crowd of real estate professionals to cheer about. I found a few interesting items in his team’s presentation, though, which I hereby pass on to you:

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1401 Elm, Anatomy of a Real Estate Deal: Don’t Call B of A?

Peter, interesting you mentioned that. Bank of America occupies the first nine floors of that building, and now they seem to be making a “few boo-boo’s” in the homes they are seizing for foreclosure! (Talk about coming home to dead fish…)

1401 Elm: Anatomy of a Real Estate Deal

Why does downtown not work? Robert Wilonsky was kind enough to post a link to the offering materials for 1401 Elm Street on Unfair Park this morning, and a quick glance at the financials tells an interesting story about why these things don’t pencil out. For some off-the-cuff, very sketchy deal-penciling, jump.

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The People Living in The Path of Adamson’s Progress

Much has been written about the buildings involved in DISD’s plan to build a new Adamson High School just blocks from the current one.

What’s made fewer headlines are the people who stand to lose their homes and jobs when the school district acquires their property — either by negotiating the sale of the property with the current owner or through eminent domain.

This is their side of the story: (more…)