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Old 01-07-2007, 09:00 AM
 
9 posts, read 35,555 times
Reputation: 10

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My parents are in their early 50's and live in Mesquite. I'm trying to get them
to move somewhere close to the central area of Dallas where their house will actually keep up with inflation. I want them to move to M Streets/Lakewood or possibly Lake Highlands (though i'm not too familiar with the different areas of Lake Highlands).

I wanted to know if you think that there's much risk in buying in this area if we buy a older home if the values could fall to where it becomes worth not much more than lot value for someone to build one of these huge custom homes. Also, I know Lakewood is east of Abrams and M Streets is west of Greenville, but what about in between? What's the opinion of the houses there. Is it riskier to buy in the none conservation areas?

Thanks in advance.
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Old 01-07-2007, 10:18 AM
 
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Default m-streets

We are the same age and if i were to live in Dallas on a city sized lot ,this is definatly where I would go. This is a great site as he only deals in this area.
www. m-street-dallas. com spaces added so maybe it won't get thrown out. If it does PM me for it.
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Old 01-07-2007, 04:08 PM
 
Location: The Big D
14,862 posts, read 42,671,273 times
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I personally would LOVE to buy a house that needs some TLC in the M Streets and fix it up. Would have to sell though as I don't want my kids to have to change schools and I love my neighbors. But the houses are sooooo cute. Risk? Not if they find a nice well built home in one of these areas they will be okay. These areas have never really seen a decline. The M Streets did more than Lakewood or Lake Highlands but it has turned around. I have many friends that live in Lake Highlands and if you used the search feature on the Dallas Thread and put in Lake Highlands you should be able to find everything that has been posted about the area. I like Lakewood and the M Streets because they are so much closer to more little shops and restaurants though. The little cottages are nice too and proximity to White Rock Lake and the Arboretum. Lake Highlands is going to have more of the ranch style home. As with any house w/ age they are going to need upkeep but that is going to happen in a new house too. Just have a good inspector do the inspection when looking to buy a house. Some minor work may be well worth it to get a house w/ more character that will age better and bring in more dollars later on.
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Old 01-09-2007, 08:16 AM
 
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How serious is the threat of these huge homes being rebuilt dwarfing the older homes and reducing their value? I don't want my parents throwing down 300K and putting time and money into it only for it to be torn down in 10-15 yrs.
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Old 01-09-2007, 06:58 PM
 
Location: The Big D
14,862 posts, read 42,671,273 times
Reputation: 5787
Quote:
Originally Posted by Dallaskid View Post
How serious is the threat of these huge homes being rebuilt dwarfing the older homes and reducing their value? I don't want my parents throwing down 300K and putting time and money into it only for it to be torn down in 10-15 yrs.
Find an area that has been designated a Historic District that also has strict preservation requirements. I know there are some loopholes that some builders/owners can get around but overall for the most part they can not.

The Lake Highlands area is not in one though.
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Old 01-11-2007, 01:43 PM
 
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Which homes tend to appreciate more, M Streets or Hollywood Heights? Is M Streets worth the extra cost. Greenland Hills and Hollywood are both conservation areas, so I figured the appreciation would be about the same
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Old 03-19-2007, 02:34 PM
 
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Default Vickery Place Historic District

The Vickery Place (from Goodwin, Vickery Blvd, Miller,Willis, Richard, Belmont)
have been recently declared a Historic District.
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Old 06-20-2007, 09:16 PM
 
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If you decide to buy in the M-Street, make sure you purchase a house that is the CONSERVATION district. Vickery Place (as mentioned by the previous author) is NOT a Historic distric and I don't even believe they are in a conservation district either! Only Muger and Swiss are areas that are actually classified as "Historical District". Up-to-date, Swiss and Munger are the one places in the WHOLE united States that account for the most classified historical homes in one area. (about 200 homes classified as "historical") Go have a drive in that area and you will undersatand what I am talking about. I live in the M-Street and if you find some "McMansion" it is only because they were lucky enough to get way with it before the ordinance took place which was in 2001. Past 2001, you won't find any ugly over-sized being built.
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Old 06-21-2007, 02:03 PM
 
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From vpna.com : City Council unanimously approved the Vickery Place Conservation District on June 28, 2006.

City Council unanimously approved the expansion of the Vickery Place Conservation District on January 10, 2007.

Dallas Historic and Conservation Districts:

Landmark Districts

Welcome to the City of Dallas, Texas -Development Services
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Old 06-22-2007, 02:52 PM
 
16,087 posts, read 40,998,312 times
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I was thinking about your post and I'm wondering what your price range is --

Junius Heights Historic District has a lot of fixer-uppers (some are Tudor, most are Craftsman Bungalow) and you might even find something for $200K or less (Tudors are double that). Nothing can be torn down there (or any other historic district) unless 4 different city departments approve. It is next to the Swiss Ave HD (million dollar homes) and Munger Place HD ($500K -$800K) homes.

Conservation Districts can have demolitions but the new houses must fit in with the architectural guidelines proscribed.

Hollywood Heights CD (mostly Tudor) is less expensive than M-Streets (Greenland Hills) and is hilly, with winding streets. It is also in Lakewood Elementary. The only drawback is that it borders Mount Auburn. But that may turn into a big plus as many are predicting that it will be the next gentrification area. So there is a big upside if so...

Also it is going to be on the new Tenison Trail/East Dallas Veloway which starts at White Rock Lake and goes through the Tenison and Lakewood Country Club golf courses to downtown.

See the Shakespeare Festival at Samuell Grand Park and drive through Hollywood Heights. HSMNA Home Page
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