Texas’ most expensive houses: A Preston Hollow estate, and the home of a Rangers great

Dallas had six of the 10 most expensive homes that hit the market, according to the Houston Association of Relators’ March list.

A nearly $18 million Preston Hollow estate with an indoor basketball gym and a nearly $16 million Dallas estate that belongs to a former Texas Rangers infielder were two of the most expensive homes to hit the market statewide in recent weeks.

Six of Texas’ 10 priciest homes listed were in the Dallas-Fort Worth area, according to a March list from the Houston Association of Realtors. The association uses information from local listing services throughout the state, including North Texas Real Estate Information Systems.

The data was compiled before the end of the month, so some homes listed in late March may be included in April’s rankings. Some homes listed in late February made the March list.

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Source: The Dallas Morning News

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Real estate investors still hot on DFW, plan to buy more in 2024

D-FW is the darling among investors that report they see the highest returns from the region and find it to be the most attractive for investment this year.

Investor optimism is heartier in 2024, though it does come with hesitations.

In a U.S. Investor Intentions Survey from CBRE Research released during the first quarter, results show investors’ biggest concerns involve higher-for-longer interest rates, tighter credit availability and loan terms, and differing buyer and seller expectations.

So far this year, interest rates haven’t budged, exacerbating tighter credit availability and loan terms.

But Dallas-Fort Worth continues to be a bright spot for investors. Survey results showed the region was the strongest-performing market in the country for total property returns.

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Source: The Dallas Morning News

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The anti-home flippers transforming East Dallas real estate

The Hickmans don’t identify with the term “house flippers.” The duo prefer to think of their work as preservation.

In 2009, Greg and Chantal Hickman found a small East Dallas home that fit their real estate budget and had good bones. They renovated it on a shoestring budget with “paint, breeze blocks, wood work, and love,” notes Chantal. They became obsessed with the transformation, as did their friends, family, and fans who caught a glimpse of their design work online. They formed Sunscout Studio and have since worked their magic on 10 homes in the East Dallas area, the latest of which just went up for sale in Lake Highlands.

Like many of Sunscout’s past projects, 10306 Church Road served as the Hickman’s personal home for years — in this case, seven. They purchased the home in its original 1962 state, linoleum and all, but like the Hickman’s first Dallas project, the bones were deeply cool.

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Source: Paper City

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Big names in business partner on small affordable housing development in South Dallas

The Trinity Community Development brings together influential groups including TREC, St. Philips School and Matthews Southwest.

Developers will soon move dirt on a new affordable housing site in South Dallas, bringing together various private and public entities seeking to improve the southern sector of the city and keep it equitable for residents.

Organizations involved with the nearly $2.4 project held a groundbreaking ceremony at the corner of Holmes Street and Panama Place on March 28. Construction is expected to begin by early summer 2024, and homes are expected to be delivered by the end of the year.

The seven-unit residential project, dubbed Trinity Community Development, is a partnership between organizations including St. Philips School & Community Center, the City of Dallas, TREC Community Investors and Matthews Southwest, which is led by prominent downtown developer Jack Matthews. The company is overseeing the $2.8 billion rebuild of Dallas’ convention center. Matthews is known for taking on projects that aim to bridge the disparity between North and South Dallas.

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Source: Dallas Business Journal

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Texas is a top state for luxury tiny homes, says Architectural Digest

A new report by Architectural Digest magazine has revealed a small but mighty trend rising in Texas: luxury tiny homes.

A new report by Architectural Digest magazine has revealed a small but mighty trend rising in Texas: luxury tiny homes.

The report, titled “Which States Have the Most Luxury Tiny Homes?” ranks Texas in the top three states that currently have the most luxury tiny homes for sale. California comes in at No. 1, while Texas has the second-highest number of luxury tiny homes on the market. Oregon is No. 3.

For the purpose of the study, a luxury tiny home is defined as a “freestanding home with a for-sale price of $75,000 or more” that was listed on Tiny Home Builders and Tiny House Listings.

The report found 81 houses specifically labeled as “luxury” tiny homes for sale in Texas in late January 2024, along with 252 non-luxury tiny home listings.

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Source: Cullture Map Fort Worth

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This $5.1M Fort Worth mansion was built in 1929 for a local oil baron

The Westover Manor is listed on the National Register of Historic Places. It is now available on the open market for $5.1M.

Popular with Fort Worth’s cattle and oil families in the 1930s and ‘40s,” the leafy Westover Hills neighborhood, with fewer than 300 stately homes amid broad lawns and stately trees, remains one of the city’s most coveted suburbs. Incorporated as a city in 1939, it is also one of the wealthiest towns in Texas.

Much of the land that makes up what today comprises Westover Hills was owned in the early decades of the 20th century by Amon G. Carter, the founder and publisher of the Fort Worth Star-Telegram. A consummate civic booster, it was Carter who coined the still-in-use description of Fort Worth as “Where the West Begins.”

The grand residence at 8 Westover Road was one of the first homes built along the sleepy, curving streets of Westover Hills. It was designed by architect Victor Marr Curtis and built in the late 1920s for local oilman John E. Farrell who lived there until his 1946 death. The home, known as Westover Manor, was later owned by another local oilman, the late Clarence Brodie Hyde II, and property records show the 1.13-acre estate last changed hands in 2015 when it was acquired for an undisclosed amount by a local hedge fund executive.

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Source: Robb Report

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Cut off for decades, this historic Fort Worth neighborhood is getting new attention

As Fort Worth grows, and available land in the urban core becomes more scarce, Greenway is getting new attention from home builders.

Greenway Place was the kind of place where the whole village raised the children. If you got in trouble, your parents knew about it before you got home, and the friends you made playing in the nearby city dump lasted a lifetime.

It was also one of the first neighborhoods in Fort Worth where Black residents could buy homes. Established in the early 1940’s, Greenway became a center of the city’s Black culture with an annual Juneteenth celebration in nearby in Greenway Park.

But since the construction of Interstate 35W in 1959, Greenway has been cut off from the rest of the city, sandwiched between the freeway and the Union Pacific rail yard. The neighborhood also faced decline when several residents lost their homes to tax foreclosure.

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Source: yahoo!news

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Major investment and large-scale projects attract national attention to Fort Worth, Texas

Fort Worth embraces its Western roots while forging ahead with a booming population & thriving business landscape, shaping its evolution.

As the fastest-growing city in the country according to the 2022 U.S. Census, Fort Worth is in the midst of ongoing and planned large-scale projects laying the groundwork for its rise as a world-class destination for people and companies. While it continues to celebrate its distinctive Western roots, the city also has its sights set squarely on the future as its booming population and thriving business environment redefine Fort Worth’s frontiers for future generations.

Strategic investments promote long-term growth

Fort Worth’s economic plan calls for, among other things, equitable real estate development and targeted growth in key parts of the city. One area of focus is downtown, where an estimated $2 billion in new development is poised to reshape Fort Worth’s urban core. The expansion of Texas A&M University’s existing law school into a new 3 1/2-acre urban research campus presents opportunities for innovation and collaboration between the tier-one research university and local companies like Lockheed Martin and Alcon. The campus also has the potential to fill workforce gaps in key industries like aerospace, energy, and health sciences in close partnership with the private sector.

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Source: Boston Business Journal

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Austin and Dallas-Fort Worth tipped as top US housing markets for 2024, Texas cities bracing for surge in homebuying interest

The sizzling property markets of Austin and Dallas-Fort Worth are tipped to be the nation's hottest in 2024

The sizzling property markets of Austin and Dallas-Fort Worth are tipped to be the nation’s hottest in 2024, with the National Association of Realtors (NAR) planting them atop their forecast for burgeoning housing demand. Amid a landscape punctuated by rising prices and competitive bidding wars, Texans in these metros might find themselves in an increasingly tight squeeze to land that dream home.

Lawrence Yun, chief economist at the NAR, paints a picture of a local housing market where mortgage rates, although not at their historic highs, continue to shape the playing field. In an interview with NBC 5 DFW, Yun pointed out that as companies converge on Dallas-Fort Worth, bringing in a slew of new residents, the price tags on homes show no signs of plateauing. “Let’s hope in a more moderate fashion with more adequate supply coming onto the market,” he told the station, acknowledging the tightrope locals must walk amid the market dynamics.

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Source: Hoodline

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Is more industry coming to south Fort Worth? Dallas developers purchase 58 acres

Reserve Capital Partners plans to convert the largely empty patch of brushy land in south Fort Worth into an industrial development.

A Dallas-based commercial real estate firm snapped up 58 acres in south Fort Worth on Wednesday.

Reserve Capital Partners plans to convert the largely empty patch of brushy land into an industrial development. The property, addressed 5921 South Freeway, flanks the intersection of interstates 20 and 35W and is zoned for light industrial use.

“This property possesses great potential for the buyer with its location near major roadways in a fast-growing area of the southwest Metroplex,” Carter Crow, principal for Younger Partners, the agency that brokered the deal, said in a press release.

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Source: Fort Worth Star-Telegram

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