Bill Bledsoe, Dallas

November 30 is the last day to close an eligible purchase for the First Time Home Buyer tax credit. With the Thanksgiving holiday being the week prior, most title companies will likely close early Wednesday the 25^th and be closed on Thursday and Friday. Many are anticipating an extension of the program, but I am unaware of any official word on such.

Job numbers were better than expected this week which has been hard on bonds and consequently the conforming rates have been pushed up a bit. The rates are still fantastic.

Here is an update for the weekend:

30 year fixed - conforming - from 4.75% (1 point origination)

15 year fixed - conforming - from 4.375% (1 point origination)

30 year fixed - FHA - from 4.875% (1 point origination)

30 year fixed - jumbo - from 5.75% (1/2 point origination) ($417k-$600k)

30 year fixed - jumbo - from 5.875% (no points) ($650k+)

5 year ARM - jumbo - from 4.375% (no points) ($417k+)

7 year ARM - jumbo - from 4.75% (no points) ($417k+)

*Many other programs available. Rates vary based on borrower/loan attributes.

Call me for a current quote or any mortgage related questions!

Bill Bledsoe, 214-335-5706

When you think of condominiums in Dallas, you usually think of the Turtle Creek "corridor" which includes most the the well-known properties built to date. Highland Park typically doesn't come to mind, as it is more luxury single-family residences. With the Drexel Highlander, which was built new in 2007, this mind-set has changed in a very profound way. The Drexel Highlander has successfully blended the prestige and privacy of Highland Park with the natural beauty of Turtle Creek. Located on Prescott Avenue at Oak Lawn, it is in the heart of both. Residents enjoy walking Turtle Creek, which is only one (1) block away, and they regularly walk and bike the Katy Trail, which is a close four (4) blocks. Highland Park is at your doorstep. Shopping at Highland Park Village is less than one mile north on Preston, just past the new Armstrong Parkway fountain and Beverly Drive. For added convenience, La Duni Latin Cafe is just across Oak Lawn and Al Biernat's Restaurant, which is located next door, offers residents a private Highlander menu, delivering meals to the property throughout business hours.

I'd love to meet you to explain The Highlander's many unique attributes and amenities that set it apart from all the other condominiums in Highland Park and along the Turtle Creek corridor. To schedule a personal meeting and property preview, please contact me at 214-335-5706 or visit me online at Bill Bledsoe Realtor.

-- Bill Bledsoe, Ellen Terry Realtors

This one-of-a-kind French Mediterranean is located at 4420 Bordeaux in Highland Park, just off Armstrong Parkway. It was recently completed by Bob Cresswell of Cresswell Custom Builders.

About Cresswell Custom Builders. Bob Cresswell has been building luxury properties in Dallas since 1972. Bob is past president of the Home Builders Association of Greater Dallas and is the incoming president of HomeAid/Home Builders Care. He has consistently been voted "Best Builder" by a local magazine for the last five years.

4420 Bordeaux has an elegant presence on the tree-lined block that immediately commands your attention. Once inside, this home becomes a warm and inviting friend ... it even feels cozy for a new home, which is saying a lot for a property of this size. The color palette selections, incredible wood floors, stone surfaces and french-country fixtures easily bring warmth and comfort to the home, complimenting the overall design and mood.

Click below to view photos I recently shot at the residence: http://www.flickr.com/photos/40104497@N05/sets/72157622272896162

This exquisite home features 8,490 square feet and is listed at $5,795,000.00. It includes six bedrooms, six full baths, two half baths, formals, den, study, game, media and exercise rooms, five fireplaces, lagoon pool and elevator.

Double doors from the entry open to the spacious center hall formals with soaring ceilings, hand scraped oak floors and a beautiful stone fireplace. The den features a vaulted beamed ceiling, wood burning fireplace, built-ins, wet bar and fabulous views of the lagoon pool and covered verandah, complete with a wood-burning fireplace and gas grill. A gorgeous Edwardian paneled study is strategically placed in a quiet location at the back of the home, with easy access to the outdoor verandah and pool.

A handsome gourmet kitchen includes top-of-the-line appliances, extra large pantry, granite prep island and marble counter tops. The kitchen area also includes a butler's pantry and craft room with sink. The adjoining breakfast and morning room flow easily from the kitchen and include a very homey wood burning fireplace and mantle overlooking the pool and backyard. A convenient guest room, powder bath and wine grotto finish the downstairs.

Upstairs are four bedrooms, four full baths, a luxurious master suite with sitting area, which features a wood burning fireplace overlooking the landscaped backyard and pool. The master bath/spa includes double vanities, jetted tub, double shower and his and hers walk-in closets with exquisite built-ins. The upstairs include large game and media rooms, wet bar, half bath, plentiful closets and large full feature utility room. The third level contains the sixth bedroom with full bath and exercise room.

This residence includes an air-conditioned and heated 3-car garage with storage and workbench. This property features landscaped grounds with mature shade trees. It includes an incredible lagoon-style pool with waterfalls, grotto and spa, a flag-stone patio, CAT 5 wiring and e-home/green amenities including 16 SEER AC & Heat, foam insulated attic and exterior walls.

The features of this home are extensive and it is truly a landmark property in Highland Park. Call me at 214-335-5706 for buyer's representation or to preview this exciting new Highland Park treasure.

-- Bill Bledsoe

Ready to Build in Preston Hollow? There is a fantastic corner lot in the heart of Preston Hollow that has recently been reduced from $400,000.00 to $350,000.00!

This property is For Sale or Build to Suit by the builder/owner, Drexel Development.

Proposed architectural plans have already been drawn up. Use the existing plans, redesign them or bring your own. This is a generous 71' X 146' lot on the southwest corner of Park Lane and Hillcrest.

Please contact Bill Bledsoe at 214-335-5706 for more information.

Last month I introduced you to TERRASSE, a new luxury home builder with current projects in both Highland Park and University Park. We talked about their business philosophies and innovative construction methods, which incorporate ICF (Insulated Concrete Forms). Click the FLICKR photostream link below to view some photos taken during the construction phases of their current new home projects.

http://www.flickr.com/photos/40104497@N05

Their build quality is truly extraordinary, even when compared to other Park Cities luxury builders. Contact me at 214-335-5706 for more information about Terrasse's new build concept and their current new home offerings.