Wednesday, June 18, 2008

Where Is Home?

So you need some more reasons to buy a house in Oak Cliff?

1) Why North Oak Cliff Is The Hottest New Hood In Town

2) Lifestyle Guru Puts the Sass in Summer

3) Belmont Hotel Celebrates Barefoot Concert Success


Christian REALTOR® said...

Ramdomly came accross your blog and read about north oak. interesting. how is the market there home values falling still? Like you pictures. Cheers.

sleepypasture said...

The market in Oak Cliff is still doing extremely well, and home values are only going up! More and more development is going on, including the largest development in the country of MCM homes (Kessler Woods). My home's value has doubled in the past 5 years and is still going up. When I bought it just a few months ago, there were 3 offers within the first 4 days on the market! And I live a mere 4 minutes south of downtown.

Christian REALTOR® said...

Great to hear. We are in a buyers market at the moment. Lots of good investment property here in Sandpoint, ID. We could see home values cont. to slide but not much. We are historically resilient to declines in the market. Median home price here is around 225K with several fixers at around 150K. If you or someone you know is looking this is the most under valued resort town in the lower 48. What is the average home price there for say 2500sq feet? Cheers.

sleepypasture said...

Right now I don't know anyone wanting to leave DFW, but that is good info to know! As far as prices in Oak Cliff, many areas are transitional (and great for investing/flipping), and some are more established. It's hard to give an average..there is the Kessler Park area with houses going for 500k easily, but compared to going "north of the river," these are still a very good deal. Oak Cliff was one of the first developed areas of Dallas, so there are tons of great old houses...Craftsman style, lots of brick Tudors, etc. North Oak Cliff is the place to be...lots of parks, a great golf course, and the Bishop Arts District. I bought in an established neighborhood and my house is one of the original houses built (1926). I paid $80/sf, which would be unheard of anywhere else in Dallas. It was move-in ready, too. Some friends a block over renovated their house and are about to sell (and like the neighborhood so much that they bought a bigger house 3 houses down from that one) and are selling for $100/sf. On the other hand, the older man next to me has lived there a long time and has a 4,000 sf house that he wants to sell for 100k. It needs a little work on the outside, but I have heard that the inside is charming. My friend Kris and her husband bought an adorable Craftsman home in the Elmwood neighborhood of North Oak Cliff 10 years ago for $70k. 5 years ago it appraised for $140...I'm sure it's worth a good deal more now. There's a bit of everything in Oak Cliff! Lots of diversity, young people, artists, small business owners, and the country's best vegan restaurant (according to VegNews Magazine), Spiral Diner.