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Real Estate Quarterly
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CLOCKWISE FROM LEFT: Photographer Costa Christ says well-executed images often start the “emotional” connection to a home for a prospective buyer. (PHOTOS: COSTA CHRIST MEDIA); Sarah Nowak calls staging “a bridge that connects that person’s current life to the house you’re selling.” (PHOTOS: DANIEL TANNER PHOTOGRAPHY/COURTESY SARAH NOWAK INTERIORS)
FIRST IMPRESSIONS
Industry professionals: Even in a busy market, homebuyers want to fall in love
By Bethany Erickson
bethany.erickson@peoplenewspapers.com
When the residential real estate market is as hot as Dallas-Fort Worth’s, it may seem like gilding the lily to expend the time and money to stage and professionally photograph a listing. But experts say it can make the difference between full asking price and top dollar.
“ ey say staging a home brings more money — 17% — but in addition to price, homes that are well maintained, edited, staged, and with curb appeal sell better,” said Paige Elliott, a real estate agent with Elliott & Elliott Real Estate Group and Dave Perry-Miller Real Estate. “Plus, good photography often sells (the home) sooner too, and the cost of staging is less than a price reduction if the home isn’t selling.”
Photographer Costa Christ and home stager and designer Sarah Nowak stressed how good photography could create an emotional connection for a prospective buyer.
“When a real estate agent hires me, they’re hiring someone who shoots for magazines, too,” said Christ, who photographs houses for real estate agents, architects, magazines, and interior designers. “So it looks like an editorial spread. ey want an emotional trigger for the buyer.
“I have photographed homes that have been on the market for months or even years,” he added. “I shoot it with a different eye, and it sells in hours sometimes.” e photography can be so important, he said, that his company sends an extensive checklist to homeowners so they can get more out of their shoot.
“Staging is important because it elicits an emotional response from potential buyers,” Nowak said. “It’s like a bridge that connects that person’s current life to the house you’re selling by helping them envision what it would be like to live there.”
Elliott said that staging helps with the practical aspects of home buying, too.
“Buyers can more easily envision how the space in the home can be used and get a better idea of the size, and see themselves living there, too,” she said.
“We often see irregular layouts, unusually small rooms, and awkwardly large spaces that tend to leave buyers questioning the home’s livability,” Nowak agreed. “Staging essentially eliminates that question by physically proving the home can be functional.”
Nowak said hiring professionals could make a difference in the price of a home — and the amount of stress involved.
“Selling a home is a lot of work, and especially for those who have never done it before, there are so many things that can go wrong,” she said.
“Find a licensed real estate professional that has a team of relevant supporting professionals; contractors, stagers, and real estate photographers are invaluable assets to a successful real estate agent’s team.”
Read more from all three experts by subscribing to People@Home, our weekly real estate and homes newsletter. TAKING THE STAGE
• 47% of buyers’ agents said home staging had an e ect on buyers’ view of the home
• Staging the living room was found to be important for 46% of buyers, followed by the master bedroom (43%) and kitchen (35%)
• 23% of buyers’ agents AND sellers’ agents said staging a home increased the dollar value o ered between one and five percent compared to homes that weren’t staged.
• 22% of sellers’ agents said there were slight decreases in the time a staged home stays on the market.
• The median cost when using a staging service was $1,500.
Source: National Association of Realtors
We’re here to help you find your way this Fall.
26 November 2021 | prestonhollowpeople.com I’m Still Standing! House hunting in 1981 reveals what has changed, what hasn’t
By Evelyn Wolff
evelyn.wolff@peoplenewspapers.com
Real estate advertising gained momentum on the pages of Park Cities People each week in the Fall of 1981.
Northside People (rebranded Preston Hollow People in 2004) did not premiere until 1989, but homes in Greenway Parks, Bluffview, Preston Hollow, and Bent Tree have always been marketed in People Newspapers.
An early ad from Ellen Terry Realtors featured a home on Park Lane for $1,850,00 and a home on Gladeslide Court for $2,250,000. The median value for a home in Preston Hollow today is $767,055.
In the first edition, Real Estate Editor Molly Dodgen presented a “Gallery of Fine Homes” with eight properties from five different realtors.
Abio & Adleta Realtors offered a Center Hall Plan home “On Bordeaux” for $395,000. A classic Tudor overlooking Turtle Creek was on the market for $975,000 with Daniel M. Mahoney, Realtor. A few weeks later, Hoffman Real Estate was marketing a “Williamsburg Mansion” in Bent Tree for $750,000.
But absent in all of these early marketing efforts was the property’s address and sometimes the price.
Ellen Terry Realtors placed the first display advertisement listing the house number as well as the price in the Nov. 19th edition. A week later, the company’s ad also included the listing agent’s photo, setting the stage for marketing both properties and agents in the Park Cities and Preston Hollow for the next 40 years.
Read more about eal estate sales history on Page 33.
5304 Nakoma Drive, 1981
5315 Rock Cliff Place, 2021 (COURTESY PHOTOS)
5315 Rock Cliff Place, 1982
In July of 1982, Tom Rhodes, the only male agent with Ellen Terry Realtors, listed 5315 Rock Cliff Place, a one-acre property in Preston Hollow, for $1,800,000. During the past 40 years, this mid-century modern has been on the market three times, with its value going up and down with the economy. In 2018 the price soared to $3,900,000, then dropped to $2,895,000 in July of 2020, and has stabilized at $2,717,800.
Described as a “SMASHING contemporary” in 1981, today we would call the home at 5304 Nakoma Drive a mid-century modern. The black and white ad purchased by Carole McBride with McBride Realty Co. did not contain a price nor can it compete with the sleek photography used to market the home in 2019. The Median listing price for a home on one of the tree-lined streets of Greenway Parks is $997,756, and this home’s estimated value is $1,130,100.
That year another beautiful Preston Hollow property, 5714 DeLoache Avenue, was on the market with Judy Tarleton of Abio & Adleta, Realtors. is French country home, built in 1979, is just a few blocks north of Northwest Highway in an area of lovely estates. As Judy stated in her
5304 Nakoma Drive, 2021
5714 DeLoache Avenue, 2021
What’s Next For Snider Plaza? Utility work underway; next comes demolition, new building construction
By Rachel Snyder
Rachel.snyder@peoplenewspapers.com
Changes are coming to Snider Plaza.
Utility work on water and sanitary sewer lines is ongoing, and the University Park City Council has OK’d a redevelopment plan for the southeast corner.
Developer Jim Strode intends to construct a new building where Peggy Sue BBQ and other businesses used to be. Logos Bookstore, Lane Florist, Aman Jewelry, and a tailor relocated within the shopping center. e new three-story building is expected to house retail, restaurant, and office space. e plan also calls for a two-level underground parking garage with 48 spaces accessed from Daniel Avenue. e existing structures there were built in 1941 and 1947. e project, approved in September, includes caveats requiring retail on the first floor and storefronts to be differentiated from the rest of the building.
Strode declined to elaborate on his timeline for the redevelopment.
“For the city, the area that we control is in the right of way, so our No. 1 priority right now is obviously going to be getting that infrastructure up to date and repaired because a lot of it is from the ‘20s and ‘30s,” University Park City Manager Robbie Corder said. “Obviously, we’ve gone through various planning efforts throughout the years in Snider Plaza … the most recent one back earlier in 2008, 2009 envisioned redevelopment of private property, and I think this
FROM LEFT: The University Park City Council in September approved a plan to redevelop part of the southeast corner of Snider Plaza.
(PHOTO: OMNIPLAN/CITY OF UNIVERSITY PARK); The building that housed Logos Bookstore, Lane Florist, Arman Jewelry, and a tailor before they moved to new locations in the plaza will be replaced. (PHOTO: RACHEL SNYDER)
plan follows along with that.”
According to the city, Snider Plaza has about 60 owners of 70 properties.
“Redevelopment long term, I think there’s going to have to be partnerships and things like that because of the amount of owners that are out there. ere’s not a lot of properties that are contiguous like that that lend themselves to redevelopment,” Corder said.
During a city council discussion of Strode’s plan for the site, some residents voiced concerns about parking, traffic, and maintaining Snider Plaza’s “charm.”
“There’s not enough parking spaces provided under current ordinance,” Herb Weitzman said. “I’m not against development, but I sure do not want the charm and the pleasure that we all have shopping there to be eroded.”
Cora Billingsley said she’s also concerned about parking and traffic in the plaza.
“It is a nightmare to find parking spaces at this time,” Billingsley said. “Please do not ruin Snider Plaza and put in this plain old building that has been designed for it. It is unique, it’s precious for our neighborhood, and we hope that it will be preserved.”
Strode responded to concerns about maintaining the look and feel of the shopping center.
“We have worked with architects that, I believe, are as good as any architect in town,” he said. “I’m not here to destroy Snider Plaza … I’ve been in the Park Cities since 1980. I’m no newbie.”
Totally Tudor
6325 Westchester Drive
Susan Bradley
214.674.5518 susan.bradley@alliebeth.com
Wonderfully Welcoming
6506 Lakehurst Avenue
Cindy Stager
214.244.0364 cindy.stager@alliebeth.com
Contemporary Stunner SOLD!
3519 Edgewater Street — SOLD
Doris Jacobs & Kim Calloway
214.537.3399 doris.jacobs@alliebeth.com
So Much to Offer
3416 Westminster Avenue #1 — SOLD
Marc Ching
214.728.4069 marc.ching@alliebeth.com
Lock & Leave Luxury
5909 Luther Lane #903
Lucinda Buford
214.728.4289 lucinda.buford@alliebeth.com
7327 Lane Park Court — SOLD
15 Turtle Creek Bend
FROM LEFT: Tom Rhodes, Dan Rhodes, Nina Sachse, Thomas Rhodes, Burton Rhodes, and Neil Broussard. (PHOTO: THERHODESGROUP.COM) RIGHT: Tom Rhodes began marketing himself as well as his listings in
the 1980s. (PHOTO: PEOPLE NEWSPAPERS ARCHIVES)
1980s Real Estate Was a Woman’s World
Unless you were Tom Rhodes making his mark through creative advertising
By Evelyn Wol
evelyn.wolff@peoplenewspapers.com
Tom Rhodes was one of the first realtors to market himself, not just his listings in the early 1980s.
He met Clint Smith, and together they collaborated on numerous creative ads promoting the real estate market.
“We did all kinds of attention-getting ads together,” Tom said. “One ad thanked all of the Realtors that we had worked with that year. One of our most successful ads read ‘All e Signs Are There.’ Clint designed a logo that we used in all of our advertising, ‘He Knows Your Neighborhood.’ I just worked the Park Cities, which drove Ebby Halliday crazy!”
For a while, Tom was one of the only full-time men selling residential real estate in the area, a profession that women dominated at that time. At Ellen Terry, there were 12 agents, and Tom was the only male.
“We became a force, selling more than Ebby Halliday at that time,” Tom said. “When we grew to over 15 agents, it all began to unravel. We weren’t taking care of each other anymore. Today, people are forming small groups within larger companies. One person claims all of the production of a team – someone must be the leader.” Tom never wanted to boast that he was the number one agent. “I was spending
When we grew to $75,000 a year on advertising,” Tom over 15 agents, it all explained. “Our began to unravel. We advertising in Park Cities People weren’t taking care of was going exactly each other anymore. where we wanted it to go. So when Tom Rhodes I stopped advertising and began knocking on doors and talking to people at the encouragement of my real estate coach, Eleanor Mowery (Sheets) took off. If you stop advertising, it is over!” Today, Tom works with three of his sons, Burton, Dan, and omas, as part of e Rhodes Group at Compass. His other son is an organic farmer in Portland, Oregon, and his daughter stocks the Gulf with redfish and flounder from her home in Jackson, Texas.
MARKET NUMBERS: PRESTON HOLLOW
Month Closed Median Price per Sold to Active Days on Months’ sales price sq. foot list price listings market supply
Sept. 2020 68 $888,500 $294 95% 291 65 4.9
Dec. 2020 87 $1,176,800 $324 95% 192 104 3.0
March 2021 90 $1,040,000 $331 96% 106 77 1.6
June 2021 82 $1,197,500 $359 98% 116 43 1.5
Sept. 2021 64 $1,170,000 $338 97% 104 31 1.4
MARKET NUMBERS: PARK CITIES
Month Closed Median Price per Sold to Active Days on Months’ sales price sq. foot list price listings market supply
Sept. 2020 89 $1,295,750 $426 95% 242 58 3.7
Dec. 2020 83 $1,480,000 $459 96% 153 68 2.2
March 2021 89 $1,587,500 $445 98% 93 58 1.3
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(PHOTOS: COURTESY ALLIE BETH ALLMAN AND ASSOCIATES)
Built by Sharif Munir on a fabulous Preston Hollow gated estate, this stunning traditional is nestled on 1.006 acres. Showcasing an open living concept with soaring 12-foot ceilings, the fabulous home boasts incredible entertaining areas combined with a wealth of sophisticated outdoor living spaces, including an expansive loggia with a woodburning fireplace and kitchen facilities, two separate yet conjoined pools — all overlooking huge, verdant landscaped grounds with room for adding a tennis court. Graciously appointed interiors offer a private study, tiered media room anchored by an expansive kitchen-breakfast area and a great room, a downstairs primary suite with his and hers baths, two guest beds downstairs, game and fitness rooms, a four-car garage, parking, and a motor court.
In 2010, after a 20-year career in global advertising and marketing, Molly Branch transitioned full-time into the Dallas real estate industry. ese days, she uses marketing skills honed during her first career to set her and her seller’s home apart.
Branch leverages social media and traditional marketing approaches to ensure sellers get top dollar and credits years working in a competitive, fast, and driven environment for making her adept at contract negotiations, even in a seller’s market.
She sees herself as a natural matchmaker, connecting people to their perfect home.
Now that you’ve been a real estate professional for a while, if you could go back in time and give yourself any advice, what would it be?
“Be about others,” concentrate on your client’s best interest, and all else will fall into place.
What is the best thing about being a real estate agent?
It has to be meeting so many amazing souls and making their dreams come to life.
What is your outlook on the Dallas market?
Pockets of Dallas will level out, but overall we will continue to see small, steady growth.
Can you give us a fun fact about yourself?
My maternal family is from Northern Italy. e Ladini speak the Ladino language, mainly spoken in the Dolomite Mountains in Northern Italy and an area in the Swiss Alps. It exhibits similarities to Latin and French. Artifacts have been found that show our people have been there for 5,000 years.
– Staff Report
TALK TO US
How long have you been in real estate, and what led you to this career?
“I’ve had 11 years as an active Realtor in the Dallas market. I have lived in Dallas all of my life, with the exception of my college years in Austin, and I have owned and lived in several homes (including homes in Lakewood, Hollywood Heights, and Oak Cliff) - I purchased my first home at the age of 21 and started buying and selling real estate while in college. Are you a real estate professional? Want to introduce yourself to the Preston Hollow and Park Cities communities? Take part in our Real Talk feature.
