D Letters

No Place Like Home

The February cover story (“Is Your Home Worth What You Paid For It”) by Nina Flournoy was generally good, but I thought some understanding of the nuances of the marketplace would give a comfort level to why the erosion of home values is likely behind us.

A few key points:

●With lower interest rates buyers can afford more, as they often buy monthly mortgage payments, enabling sellers to bet ter secure list price or higher.

●Municipalities overall are moving toward more restrictive zoning policies and ordinances, resulting in added costs to development and construction. The result will be overall higher new home prices and a value benefit to older existing homes.

●Changing demographics of generally older, more affluent homebuyers will result not only in the ability to buy more expensive homes but in the ability to buy more home (i.e. higher degree of finish-out), which can easily be translated into higher value per square-foot sales price.

●About 20 to 25 percent of all housing product value is from the land or lot size. The overdevelopment of lots in the mid-1980s, and subsequent sale of lots by the RTC at deep price discounts, played a large part in the erosion of home values.

Other thoughts on this subject: Probably the best time to buy a new home or any home in the Dallas area, perhaps ever, was in late 1991 to early 1992. Here the marketplace probably reached its zenith of truly being a buyer’s market, especially for new homes.

Access to employment and school district reputation are probably the two most important criteria home buyers have. Knowing this, one can easily point to the areas across the Metroplex where values are likely to be enhanced.

The Texas markets, unlike the East and West coast markets, have a greater tendency to overdevelop and overbuild. While this does not help values it certainly helps in attracting people to move here in search of affordable housing. During the 1990s we will be blessed by an economy and housing market that may not reach the levels of the 1980s but will be healthier with more long lasting growth.

ALAN M. CHAILLET

VICE PRESIDENT, GRIFFIN CONSULTING &

RESEARCH CORP.

DALLAS

It was good to see my neighborhood, Northwood Hills, favorably reviewed under the headline “Good Neighborhoods” in your February issue. But reporter Nina Flournoy got lost somewhere along the way.

Northwood Hills, including Northwood Hills Estates, is quite clearly defined and does not include the neighborhood of Spring Valley. Nor does it extend as far west as Preston Road. Its southern boundary is not Spring Valley Road, but Peyton Drive and Alpha Road. We have never had “gangs roaming” the neighborhood, and the excellent organization. Neighborhood Service Council, Inc., was not founded by Northwood Hills homeowners, although we are strong supporters.

Property values in Northwood Hills have been among the most stable in far North Dallas. Homes sold in 1992 were in the $200,000 to $600,000 range, and up sharply in number from the previous year.

Other than that, it was a swell story.

R.H.S. Mitchell

Dallas



Editor’s response: Our story discussed the entire Northwood Hills area, as defined by Dallas real estate agents, and noted that it is made up of numerous neighborhoods, including Northwood Hills Estates and Spring Valley. We should have said the NSCI was organized by Spring Valley Methodist Church. The mention of gangs was a direct quote from Northwood Hills homeowner Janis Dumas.



Who Cares About Eric?

After reading an excellent article on Dallas housing values and a fine Glenna Whitley drama, I stumbled upon “Eric’s Big Adventure” (February). So, what’s your point? You wasted five pages of a pretty decent issue on the antics of some artsy, dope-smoking punk. I think Eric needs more lime-and another prison sentence.

R. Frederick Marshall

Frisco



Busting Our Bests

D Magazine’s Best & Worst of 1992 (January) reinforced a nasty rumor I had hoped was not true-over the years, D has appeared to have an anti-Grand Prairie bias.

The fact that D commended in any way the tacky, tasteless smear campaign launched by Fairchild/LeMaster against Grand Prairie’s Class 1 horse race track was disturbing.

D further slammed Grand Prairie by giving DART an A+ for saying it would not serve a Grand Prairie track.

My first thought was “who on staff at D has a grudge with GP and why?” But, a magazine of D’s stature would only employ non-biased journalists of integrity. Besides, Grand Prairie is a lovely town of friendly people who still know and care about their neighbors, with plenty of room to still grow and lots of which to be proud.

AMY BISHOP SPRINKLES

MARKETING AND PUBLIC INFORMATION DIRECTOR

CITY OF GUAND PRAIRIE



I question your choice of best bead stores in your Best & Worst issue. The Rock Barrel! has been around forever and they have the biggest selection of beads and eclectic stuff I’ve seen anywhere, and you can touchy feely all of the beads you want.

CHAD MATTHEWS

DALLAS



Remembering Ruidoso

As teachers in the Highland Park school system, my parents had their summers free. I was very fortunate to be able to spend the first seven summers and school holidays of my life in Ruidoso, New Mexico. We have great memories and home movies of winter sledding and summer golfing.

I enjoyed your article on Ruidoso (“The Family that Skis Together,” January) and especially appreciated the fact that the author was able to experience so many of Ruidoso’s finer points. Santa Fe and Taos are not the only great New Mexico getaways.

One of the many benefits of living in Lubbock is that we’re only four hours from Ruidoso.

Beverly Bishop McBeath

Lubbock



Gallery Re-view

I believe that “The Gallery of Life” (January) tells it just like it is today. We try to make excuses; if that doesn’t work, then we try to put the blame on everything else-except where it belongs.

He’s a “Prominent Citizen” (he obviously can do no wrong)! The DMA is at fault, it lacks “compassion, patience, and courage [boo hoo hoo].” The poor museum might not survive because it’s been “shaken to its foundations [sic].” The police, by doing their job, are really “pretty deep into ’lewdness’ themselves.” The “guy” just “made a mistake.” “Unknown Companion looked awfully young to be ’24’-were we supposed to card them?” What a bunch of hooey ! !

Heard enough? Now 1 ask you. did any of those tilings force Dr. Brettell to do what he did. He’s a grown man, obviously intelligent. This is a free country; he has the power to choose. And what did he choose? No, he has no one to blame but himself. It’s about time crybabies grow up.

And make no mistake, had Brettell been rubbing any part of a female acquaintance’s body in the same manner, he would not only be nailed for public lewdness, but he would find himself faced with much more severe consequences. Just ask Anita Hill.

C. Sanders

Fort Worth