Preston Hollow

PRICE: $6,495,000
(reduced from $6,595,000)
ADDRESS: 9807 Meadowbrook Dr.
ZIP: 75220 
LISTING AGENT: Della Lively for Lively Realty, 214-361-8900

9,828 square feet (main house), 5/5 full baths, 2 half baths/guest house/4-car garage. What makes this home so wonderful is not only its location "in that honeypot of Preston Hollow"but also the expansive 4.3 acre grounds and traditional Southern mansion charm. Built in 1980 by the chief executive of Centex homes (for his family), this spread screams Tara, with its solid red-brick construction (before everyone and their dog had to have stone) and ladylike white pillars. A guest garage apartment sits over the four-car garage and is outdone only by the separate guest house. Other features include a tennis court, pool, cabana, solarium aviary, 35-foot-long-entrance gallery, library, and two morning rooms. A mammoth master with his-and-her dressing rooms and bath, sitting room, and four more huge bedrooms round out this home.

Turtle Creek

PRICE: $3,695,000
ADDRESS: 3900 Stonebridge Dr.
ZIP: 75204
LISTING AGENT: Ellen Terry
for Ellen Terry Realtors,
972-380-7702

6,300+ square feet/4/4.5/4 living areas/4-car garage/wine cellar. Who needs a high-rise? Live on almost 1 acre (.92) about two steps from the Mansion on Turtle Creek, just north of downtown Dallas. Virtually brand-new, this Normandy-inspired estate was custom built in 2001 (by the discriminating present owner) off Turtle Creek Boulevard on a hilltop overlooking the creek, adjacent to a green belt. The 1,000-plus bottle wine cellar, negative edge pool, garden house, and gated driveway are just a few of the perks. Special touches include antique brick, terra cotta floors, and quartersawn ship oak flooring in the formals.

Downtown Dallas

PRICE: $199,900
ADDRESS: 1505 Elm St., Ste. 502
ZIP: 75201
LISTING AGENT: Bill Churchill for David Griffin, 972-381-6893


1,312 square feet/1/1.5.
For those who crave downtown living, this one-bedroom, one-and-a-half bath condo boasts granite counters, stainless appliances, a study, a huge master closet with custom-designed built-ins, and a massive jetted tub and separate shower in the master bath. Enjoy same-floor access to the rooftop pool, outdoor grill, and dog run. Other conveniences include around-the-clock concierge and valet parking, a wine room with private reserve storage, a putting green, and an exercise room. Constructed in 1957 and renovated in 2003, it has great views of Pegasus, and talk about secure: The building was once the Dallas Federal Savings.

 

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Market Fix in 06?
New Year’s bliss or New Year’s tears? That’s the question lurking in every real estate agent’s mind. So just what can we expect from this steamy Dallas market in the coming year? Here’s what the experts think:

ELLEN TERRY, founder of Ellen Terry Realtors:
"Every market across the country has a correction at some point, but Dallas seems to have great momentum at this time. Currently, I sense no indication of a slow down, however, there is a great demand for more inventory."

JOE KOBELL, Ebby Halliday:
"I think we’re going to have a good market as long as the interest rates don’t go up beyond 200 basis points. There’s a solid market, strong demand, and a lot of people looking for property out there."

TRAVIS BLALOCK, president of American Legend Homes:
"We are seeing a decline in the entry-level market, but the move-up and high-end custom markets continue to remain strong. Forecasters predict a slight, short-term reduction in permits for next year, but many view this as a good thing. If less volume can reduce material costs and offer better land terms, the consumer would benefit."

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The Ticker
The Ups & Downs of the Real Estate Market

UP
WOOD AND PLASTER:
Building materials costs may increase by as much as 10 to 20 percent, according to some experts, due to damage from hurricanes this season.

DOWN
SIZZLING MARKETS:
Property values in the leading markets of Miami, Orange County, and Las Vegas - finally!

UP
THE PRICE YOU PAY:
Lot costs in Dallas are up by almost 24 percent this year.

DOWN
WHERE’S THE BUBBLE?:
Texas home prices went up 6.3% (compared to 14.7% nationally) from September 2004 to September 2005, so says a recent Real Estate Center at Texas A&M report.