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I am holding open houses for several of  my Hollywood Heights/Santa Monica neighborhood listings on Sunday April 10, 2011.  This neighborhood has unique charm and easy accessibility to downtown Dallas, the Lakewood Shopping Center, White Rock Lake, Whole Foods, and the Dallas Arboretum.  Come see these gorgeous homes at the times listed below!

1:30 to 3:00

816 Monte Vista

3/3

2049 square feet

$325,000

515 Monte Vista

3/2/1 car

1398 square feet

$275,000

2:00 to 4:00

612 Cordova Street

2/2/1

1396 square feet

$269,500

3:30 to 5:00

1102 Cordova Street

2/2/1

1268 square feet

$259,000

515 Monte Vista in Hollywood Heights, East Dallas-1:30-3

2/2 w/office $275k

5406 Caladium in Preston Hollow 3:30-5

3/2, updated, $425k

For those of us that choose to live in East Dallas, one of the many reasons we live here is White Rock Lake. The White Rock Lake Centennial Celebration takes place over 100 days this Spring, in honor of the lake’s 100 year anniversary. Kicking off the 100 days of events is the “Luncheon with Ebby” at Lakewood Country Club on March 15th to celebrate both Ebby’s 100th birthday as well as the lake’s. Ebby Halliday, a fixture in Dallas culture is the celebration’s honorary chair of the committee which has organized some exciting events to help the community celebrate the rich history and beauty of our little lake!

For more information on ways to participate and a full listing of the events, go to the White Rock Lake Centennial Celebration website http://www.whiterockdallas.org/.

There are differing opinions on this topic but since I’ve had several conversations over the last several weeks with agents, sellers and my own husband about what is best, I thought I’d offer my own opinions on the matter.

PROS

• There are fewer homes on the market in December typically, so you’re not competing with as much inventory.
• A home may look more inviting and homey with decor up, smells of baking and, it gives people an idea of how that home would look “decked out”.
• You may catch the buyers who have not found a property yet but who want the tax benefits in this calendar year.
• Only serious buyers tend to look at inconvenient times, casual “lookers” will wait until the weather is better and the timing is easier for them.

CONS

• It’s difficult to keep your home in “show ready” condition during this time of year due to various activities and weather.
• If you have children in school, they’ll be home over Winter Break which can make it even more difficult to keep a tidy home.
• Some decorations are tasteful and inviting but not everyone’s version of tasteful is the same!
• There are typically fewer buyers looking to move this time of year and people’s schedules do not as easily permit looking at property as they’re busy preparing for parties, shopping and travelling.
• If you live in an area that has very cold or wintery weather, you’ll have people tracking in leaves, snow and water onto your floors.
• If you contract during the holidays, it’s possible you’ll also have to move during the holidays.

Think about this and get the opinion of a qualified agent to find out what is most propable in your market. Not all markets are the same. Some agents are very busy in the late Fall/early Winter while others (like me) are busier in the late Winter and early Spring. The busier an agent is, the busier that market is.

For the record, it also depends on your living situation. If you’re travelling a lot and won’t really be home much, it’s advantageous to be listed. If your property is vacant, list it. It will attract more attention while there’s not as much to look at. If you’ve been listed for awhile and don’t have the activity, give your house and yourself a break. A refreshed listing is more attractive than a stale one.

Happy Holidays!

Looking for something fun to do in East Dallas this weekend? Come check out the 34th annual Lakewood Home Festival! The festival, which is put on by the Lakewood Early Childhood PTA, benefits neighborhoodpublic schools: Lakewood Elem., J.L. Long Middle School and Woodrow Wilson High School. The festival which kicks off Friday night with a candlelight tour of homes and an auction party themed “Viva Las Lakewood”, includes an artisan market at Lakewood Elementary and a tour of 6 of the most beautiful homes in the city.

Last year’s festival raised $103,000 for our schools, quite an accomplishment for a group of volunteers! I have to admit, I’m partial to this organization, having served on the board and on the festival committee for three years. It takes a lot of hard work to put together and it is an amazing feat when you consider how many people attend every year and who come from all over to enjoy the festivities! Here’s a link to the website http://www.lecpta.org/lakewoodhomefestival/default.htm.

Here is some information about the homes that are on tour this year, hope to see you there!

The Homes

Here’s is the schedule of the monthly Hollywood Heights Open House Sunday

Hollywood Heights Open House Blitz

Sunday, October 10, 2010

  Open 12:00-2:00

Open 1:00-3:00

Open 1:30-3:00

Open 3:30-5:00

Steve Blow’s article in today’s Dallas Morning News is another indication of what we Dallasites know and love about living here-it’s cheaper to live here than in many other cities, and many of those cities have less to offer in the way of jobs and culture, than we do. Coldwell Banker’s recent study found that Dallas ranks 56th out of 300 cities nationwide. Detroit ranks as the cheapest place to live and Newport Beach, California, comes in at the most expensive city to call home.

The interesting part to me is that the average price of a four bedroom, two bath home in Detroit is $68,007. In Newport Beach, the same sized house will cost you $1.83 million, and in Dallas, it will cost you $180,228. The study also found that 25 cities averaged over $750,000.

So, lots of job growth, low priced housing and super low interest rates=a great time to buy a home in Dallas!

Many sellers are getting inspections done prior to listing their homes so they can determine if there are any deficiancies that need attention. Often times, after a home has been lived in for several years, there are things lurking that we cannot see-mud in the crawlspace, termites, furry friends living in attics…

Agents will tell you that it’s a good idea to have the home inspected to find and correct these problems before the house even gets to the market so that you can show prospective buyers that you are not only a responsible homeowner but that you have corrected many items that typically come up during the option period (some people refer to this as the inspection period). Remember that if you choose to do this, Texas law requires that you provide the written inspection to a prospective buyer.

In fact, if your home goes under contract and the buyer has the home inspected and you as the seller receive a copy of the written report, you are required to disclose that report to a subsequent buyer, if the sale with that buyer were to fall through, for example.

It is important to remember that when serious items arise, such as safety hazards (usually electrical), foundation issues, plumbing leaks, vermin and roofs come up in an inspection, it is usually best to try and negotiate as much as possible with the buyer. In most situations, any buyer will ask you to repair or compensate them for these items so it makes sense in this market to be as open to these repairs as possible. If not, you risk losing the buyer and having to start the process of finding a new buyer all over again just to have the same items come up during their inspection.

To learn more, visit the Texas Real Estate Commission’s website (TREC) at http://www.trec.state.tx.us/questions/faq-enf.asp#Cat26.

Most analysts agree that we have hit the bottom of the housing market, especially in cities like Dallas where  we didn’t see skyrocketing appreciation in short periods of time. If we’ve hit the bottom, then buyers are crazy if they don’t take advantage of the inventory levels that are out there. Rates are at 4.44% for a 30 yr fixed as of yesterday…what that means is with rates so low, you could afford more house at the same payment. For example,  if you borrow $300,000 at 4.44%, your payment is roughly the same as if you borrow $250,000 at 6%. If you’re waiting to “see what happens”, you will miss the opportunity to buy more house for the same amount of money-period. It’s hard to justify waiting for some event in the future when the only market we can predict is the one that we’re currently in.

Now is the time to get off the fence and act. By the time the rest of the market figures this out, inventories will begin to dry up, prices will go up and rates will follow. Housing, rates-it’s all cyclical.

East Dallas has some fantastic buying opportunities for people who are serious about purchasing a home. There remains a lot of relocation business here which means that at some point in the near future, a combination of a good buying environment, more people moving here and a lack of building will mean the beginnings of a seller’s market. It’s closer than you think.

Like many East Dallas dwellers, I’ve watched in awe as Henderson Avenue, formerly a row of hair salons, liquor stores and attorney offices, has turned into an upscale boutique street housing trendy restaurants, vintage antique stores and cool bars. Henderson has become the new “it” spot for lunch with clients as well as after work cocktails with friends. Do you have a favorite hang out? Have you tried a dish or drink that you’re crazy about? Here are a couple of mine:

Horne&Deckker-try the frozen Rose’ and the potato chips smothered in blue cheese and bacon bits

Victor Tango’s-LollipopLamb chops, they’ll change your life

Hibiscus-try a Hibiscus Martini and a bungalow salad at the back bar with Andrew

Park-My Mussels are AMAZING!!

J Black’s-fun, hip, loud, enormous bar

Old Monk-relaxed, old school

Neighborhood Services-hip, good food, good service. A James Bond audio book was playing in the restroom last time I was there…very cool