Ritz ExtA Reader writes:

I am very interested in buying a condo near downtown Dallas in an exclusive, small building. The price is over $600 per square foot. I am doing this without a Realtor for personal reasons.

My question is this: I know that condo sales at the Ritz, Museum Tower and One Arts are also in that same price per square foot range, but I wonder if those are fair comparables? They are very different buildings. How would I go about finding comparables in an area saturated with big high rises? Thanks!

Dear Reader: Interesting question. Perhaps our vast real estate brain bank can help you out? I will caution you that while I totally understand not using a Realtor for this transaction, research shows that buyers tend to overpay when they buy without an agent. I also think comparing a smaller building to these large, amenity-loaded high rises may not be appropriate.

Go ahead, go nuts in the comments department!

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Last week, my dear friend Tim Rogers over at D Magazine gave Museum Tower some good SEO by headlining that 

“Museum Tower Shows Strong Uptick in Sales”.

He checked DCAD and found:

“…that 27 units have sold, for a total of 108,208 square feet and $57,343,250 of assessed value. Not too shabby. In about five months, Museum Tower has roughly doubled its numbers.”

But despite the nice headline, he didn’t think sales were fast enough. Or are fast enough. Of course, we in the real estate biz know how terribly behind DCAD lags. Until week before last, Kathy Nealy’s condo was still listed as being owned by Fannie Mae, and while I knew that Yu Darvish had bought his Bluffview home last November, it took DCAD 5 MONTHS to finally change the ownership from Joseph Palladino to Yu.  (more…)

The Beat Condos Ext

Modern and affordable, Buzz Lofts in the southern Dallas neighborhood of The Cedars are a popular choice for those who want loft living south of downtown Dallas.

Condos are hot and getting hotter, according to the Texas Condominium Mid-Year Sales Report from the Texas Association of Realtors. Statewide, condo sales rose an average of 10.5 percent year-over-year between the months of January and May of 2014. In San Antonio condo sales were up 18 percent, followed by Austin at 14 percent, Houston at 6 percent and Dallas at 4 percent.

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Athena exteriorYou know all about the fracas Behind the Pink Wall, the “No” signs all over Preston Hollow. And you know that former Mayor Laura Miller (and former City Councilman Mitchell Rasanksy, both of whom live in Preston Hollow) have asked Jennifer Gates to get another proxy beside City Councilman Lee Kleinman because he isn’t “willing to listen enough” to homeowners who live up and down Northwest Highway who are concerned about increased traffic from this project, homeowners from as far away as Central and Midway Hollow. (more…)

NO-to-Transwestern-DealA few weeks ago we told you that Laura Miller, Mitchell Rasansky and a bevy of Preston Hollow  “VIPs” had joined the debate over a multi-family complex in the early works over at Preston and Northwest Highway, Behind the Pink Wall. This development is the source of all the “No” signs cropping up in Preston Hollow as far east as Hillcrest, as far west as Midway Hollow, and as far north as Forest.

Well, now Miller, that is former Dallas Mayor Laura Miller, has taken it one step further. She WROTE an email to Jennifer Gates asking her to replace Kleinman, claiming he is unwilling to meet with Jennifer’s constituents. Well, she didn’t say he was “unwilling”: she said appoint someone who is MORE willing: (more…)

The Bonadventure pondSeems like we are walking down Dallas Memory Lane, what with the loss of Margaret Crow.

Does the name Ray and Clare Stern ring a bell? They were a long time Dallas power couple. Ray “Thunder” Stern was a famous wrestler and self-made man. Born in Brooklyn as Walter Bookbinder, he grew up the son of a cab driver and a homemaker in a small flat with one bathroom for eight family members. Later, his wrestling successes brought him fame and fortune. He moved to California and met Joe Gold of Gold’s Gym fame, probably providing his first encouragement at opening his own gyms. Stern was a pioneer in the health club field, and opened America’s first co-ed gym in San Francisco with his second wife, Clare. It was the first health club concept with a nursery so parents could exercise. (more…)

Workers demolish derelict apartments on Kings Road to make room for a new high-density Dallas Housing Authority development.

Workers demolish derelict apartments on Kings Road to make room for a new high-density Dallas Housing Authority development.

Mike Harper and his fellow Oak Lawn neighbors, the voices behind the RezoningDHA website, worked hard to raise awareness among homeowners when the Dallas Housing Authority submitted a rezoning request for its Kings Road project. And thanks to their persistence and the hard work and consensus building of Dallas City Councilman Adam Medrano, DHA officials were able to work with neighbors to reduce the size of the development and decrease the impact of the public housing project on nearby properties.

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