D Sale of the Week: 11467 Royalshire Dr.

Call your lender: this million-dollar-plus manse in Preston Hollow is a foreclosure (read: a steal).

Sales price is $850,000, but DCAD appraised 11467 Royalshire Dr. at $1.39 million.
Oh what a steal for the right buyer! 11467 Royalshire Dr. in Preston Hollow is jam packed with all the bells and whistles you’d expect from a million-dollar-plus mansion built in 2008, but it’s priced way less because it’s now a Dallas foreclosure. It has four bedrooms, five and a half baths, and plenty of room for a pool and spa in the backyard. The home sits on a nearly half-acre corner lot at Royalshire and Del Roy, with mature, leafy oaks and a three-car side-entry garage. The location is close to Preston Royal, Preston Forest, and the Cooper Aerobics Center.

The home, with Austin stone and brick facade, features a formal entry with winding, curved staircase and a two-story family room with built-in cabinets. The kitchen is huge, with granite counters and island; high-end appliances; and butler’s pantry with prep bar, sink, and wine cooler. The first-floor master sports a cozy fireplace and spa bathroom with double head, walk-through “car wash” shower. Upstairs are three bedrooms, game room, and media room. The laundry room is on the first floor—convenient to the kitchen and garage. In all honesty, I’m not crazy about the flooring in this home, but that is so easy to change that I almost hate to say anything. (Write this down: “flooring allowance.”) The second-story balcony deck seems like an afterthought, but it could be a nice place for sunset cocktails.

The best news here is the price: $850,000, a $150,000 price reduction from the asking price of $999,000, which was even higher a few years ago. Dallas Central Appraisal District has it priced at $1,395,000; with land value of $375,000, you are paying $80 a square foot for an almost brand-new home. Operator, can you give me the number for Wells Fargo, please?

Find more local real estate news on DallasDirt.