With Ample Supply, Home Buyers Expect Their Money’s Worth
Home shoppers in the Park Cities and Preston Hollow should have more options to consider but still expect to pay plenty to live in the stately homes that characterize the area.
(ABOVE: Completed in 2001, 3509 Crescent Ave. includes a 4,671-square-foot main house, a 730-squarefoot guest quarters above the three-car garage, and a separate cabana bath on the south side of the pool. Courtesy photos)
Active listings are up along with the months’ supply of homes, and although homes are staying on the market for more than two months, median prices remain high, though not much different than they’ve been during the last year, according to the most recent statistics from North Texas Real Estate Information Systems Inc.
While buyers may not be paying less, they are expecting to get their money’s worth in style.
“Buyers are super picky these days. So if you plan to sell, it pays off to work with a Realtor in advance to prep your home because we know what buyers are looking for,” said Marti Voorheis, a Dave-Perry-Miller agent.
“The seller who puts in the effort before talking to a Realtor may spend money and effort in the wrong places,” she said. “Sometimes, updated pieces can elevate a home’s visual appeal. In other cases, it’s important to freshen the paint or even more involved remodeling. Otherwise, you may be looking at sitting on the market longer or reducing your price. The bottom line is that the buyers want it perfect.”
Fit For a Prince?
While the market boasts many homes that look fit for a prince, at least one has a letter to prove it.
We wrote online in May about the grand home at 3509 Crescent Avenue in Highland Park. It remains listed by Perry-Miller Streiff Group for almost $5 million.
Scott Merrill designed the house to meet the desires of a man who developed an eye for well-designed 1920s English residential architecture while bicycling as a boy to Bradfield Elementary School and Highland Park Village.
Prince Charles, a student of architecture, wrote Merrill after reviewing the American architect’s portfolio.
“All I can say is that I am enormously impressed – particularly by your enviable ability to produce such an incredibly ‘appetizing’ Arts and Crafts feel to your buildings,” the prince said. “This is such a rare gift in today’s soulless world and, for me, was best demonstrated in your Highland Park house.”
-Compiled by William Taylor and Tim Glaze
