You to the 4th Power - Goals

Price Pritchett, in his "You Squared" seminar told us in very early 2013 to make our heart's desire our goal for the year; he said we should act like the brave kids we were when we first dared to ride a bike, or a skateboard, or jump off the pier into the chilly Lake Tahoe Water (in my case).  Basically, Price said to abandon our fears and self-imposed constraints about how successful we could be in a given year.  

I decided to try it, and, after the results of this year, highly recommend it!  By throwing our goals out into the universe, they came back to us, achieved and exceeded -- of course it can be said that this real estate year in Dallas was so good that all residential agents surpassed their objectives, if they set them in the first place. Not sure it can happen again, because our manager said a goal met is no  longer a goal -- how can we keep raising the bar EVERY year?  Maybe we need to review what Price admonished us to do -- don't make a financial goal your heart's desire. The financial goals can be met when we march through our fears toward what we always thought was impossible -- we aren't  too old, too young -- maybe we are smart enough, lucky enough, talented enough, and free-minded enough to be more that we ever thought we could be!  Here's to 2014, may you be healthy, wise, wealthy, and loved!

Highland Park land prices highest in HISTORY!

5330 Lobello, 9516 sf, 1 acre

Available: $4,395,000 -- Private Listing, Kim Gromatzky, Dave Perry-Miller & Associates

Land values in University Park have increased 25% in the last year, with another 10-15%, according to Brian Hagen, appraiser with DW Skelton's office.  East of Hillcrest is an extremely active area, with 70' lots commanding $60-80/sf, or $850,000 minimum for a lot.  In Highland Park, prices are the highest in HISTORY, at $8-10 million for an acre (if you can find it), or $230/sf!!!  Half acre HP lots, says Hagen, on Crescent, Armstrong and Stratford, are getting $4-5 million, with 4 recent sales.  The French street lots are trading for $150-170/sf.  A 50' lot on Harvard will bring $100-125/sf. Four or five builders are putting up specs in the $2 million range, and several are going under contract before they are built. There are a few specs in the $5 million range coming on as well.
Currently, there is 1 NEW HOUSE in HIGHLAND PARK.  That's it...

Private sales have accounted for 80% of land sales in the Park Cities, particularly in the $4 million plus range.  There have been more hip pocket sales in the last 12 months than in the last 5 years.
ON FIRE MARKET!

Not quite Tahoe, still idyllic

Imagine sitting on your patio or terraced deck, listening to songbirds, a babbling brook, the breeze rustling the trees leaves, every morning from your Lakewood Treehouse.  If you love the outdoors, serenity and natural beauty, check out this view from the new master bedroom, under construction.  Maybe it's because I will always miss Lake Tahoe, but when I stand on the newly poured slab looking out eye level with the birds, I feel just a little bit of it here in Dallas.  For sale at 6566 Lake Circle, builder Maplehill Residential, represented by Kim and Taylor Gromatzky, Dave Perry-Miller & Associates.

Dallas' "Highway" Park

http://archpaper.com/news/articles.asp?id=6435

The article in today's Architect's  Newspaper has an interesting perspective on the recently opened Klyde Warren Park, bridging Uptown with Downtown.  While the writer complements Dallas for another glitzy addition to  the urban streetscape, he wonders if the park will encourage people to get out of their cars long enough to enjoy it, and suggests that the City continue its greening up with similar conversions of adjacent parking lots to greenspace.  In 2012, we've added Main Street Garden, Belo Garden, with more to come.  The Dallas Museum of Art and Nasher Museum are rumored to be re-orienting to become a part of the "Highway" Park.  Ride down there, take the trolley, ride your bike there;  looks like it is working quite well!

Museum Tower Happy New Year Opening

Wonderful opening party at Museum Tower, Dallas' striking, elliptical-shaped addition to the skyline!  The architects of record, Charles Gromatzky and Mark Manske of GDA Architects described how they designed the pool area to be grandkid-friendly (on advice from Dallas developer Bill Criswell), with the entire perimeter edge of the pool sunken in an inch of water, and a 3' depth along one side, lap swim on the other. Important because who will be visiting this sun-splashed deck with soft music emanating from rocks, surrounding them, but children?
My favorite view, even more than the 38th floor city views, was the 5th floor scene of Klyde Warren Park, the Arts District and Perot Museum of Nature and Science.  Absolutely stunning, and if you are considering a highrise, you will not be disappointed in this architectural gem, with its versatile quality interior selections, wide open views and  timeless design.

Kim & Taylor, Dave Perry-Miller & Associates

Cedar Springs new BOULEVARD

If you haven't driven up Turtle Creek 'til it turns into Cedar Springs lately, you are in for a wonderful Dallas surprise!  The new landscaped and treed medians that are being sculpted through Uptown, passing the Crescent, Ritz, Ocean Prime to the crest of the hill are absolutely stunning.  These improvements will enhance the real estate values on both sides of Cedar Springs, and the drive all the way to Victory, Perot Museum and past the new Uptown highrise office/residential structures makes you feel like you have arrived into a MAJORLY cool city.  This is Dallas 2013!  Happy New Year!

2013 Residential Dallas

Britt Fair of Hexter Fair Title Company reported super interesting stats today on the residential market. 25% more transactions than the same period in 2011, but prices DOWN 15% in Preston Hollow. Similar stats in Park Cities. Lakewood had 20% + transactions and a 2% price increase over the first 9 months of 2011.  Terrific year in 2012 for the sweet spot of prices, $500,000-800,000. Low interest rates expected to continue for awhile, along with stable Dallas prices.

2013 expected to be slower due to LOW inventory, continuing concern over international market stability, job creation in the private sector and the continued monetarizing of U.S. debt. Ouch.
Can't wait to see how the election tomorrow affects Congressional gridlock and the fiscal cliff, additional factors setting the tone for the 2013 Dallas residential market. We are hopeful more Sellers will decide to list their homes to satisfy demand.

While most major markets fell off of a cliff in 2007, slow and steady Dallas never boomed, and never  busted. We've had continuous positive job creation that hasn't varied from 45-49,000 new jobs per measured period since 2001. When people feel secure in their jobs, they buy in the sweet spot. When the wealthy feel good about the stock market, they buy more high end homes.

So interesting that we are experiencing the lowest interest rates in US history, and buyers/sellers taking light advantage. Go find a residential property to buy, Americans!

Sources: NTREIS, Case Shiller