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About Highland Park's Park Cities

Elite Lifestyle of the Park Cities in North Dallas, Texas

09-01-11
Mike Pannell
Mike Pannell: Real Estate Brokerage in Keller, TX

There is a large suburb known as the Park Cities, which is actually made up of both Highland Park and University Park neighborhoods, which are two very affluent and popular neighborhoods that claim a great deal of high profile residents. The Park Cities is a neighborhood that is known for eloquent shopping malls that are supreme to the others of the city, and offer a more upscale shopping experience. The neighborhood also holds a great deal of the most expensive real estate within Dallas, with the Southern Methodist University and its 11,000 students as well.

The neighborhood is found to the north of Downtown Dallas, and to the east of the famed Love Field. What brings a great deal of attention to the area as well, is that it is the former home of the previous President of the U.S. George W. Bush. It is also said that by 2013, there will be a presidential library and a policy institute founded in his name by SMU.

The area is known for the more elite, known for household income around $121,000 on average. The Park Cities are ranked as the first and second of Texas’ most educated neighborhood communities, with most residents holding a baccalaureate degree or greater. The students currently attending public school in the area attend Highland Park ISD schools, with a small portion of the neighborhood receiving education from the Dallas ISD.

Both Highland Park and University Park are very well known for the most extravagant homes in the city, and even in the state. There have been famed residents, and those that reside in the area generate quite a community reputation as well. There are also many politicians and those within higher rankings of the corporate world that reside in these neighborhoods.

Homes feature estate, ranch, and even Victorian style architecture, with most encompassing a great deal of land with a very large square footage. Getting these homes will definitely cost a bit more than the average home, with average costs over $500,000 – some homes as much as $1 million or greater in cost.

Finding something to do in the Park Cities isn’t hard, with recreational options for residents within the community that ensure a greater quality of life through every amenity of the neighborhood. Those that reside within enjoy the privacy of their large estate style homes, and the stretch from Downtown Dallas that allows for a slower paced life.

copyright 2011 Nu Home Source Realty LLC

An Interesting Idea for Long Time Residents of Highland Park and University Park

01-31-11
BILL CHERRY
BILL CHERRY: Real Estate Agent in Dallas, TX

For a number of years, the State of Texas has had in effect a law that allows homeowners who are 65-years old or older, or who are disabled, to defer paying all of their property taxes.

Income does not restrict the ability to qualify, The only restriction is that the home must be the person's homestead, and that accrued taxes and interest come due 1) when the house is sold or 2) when it is no longer the homestead.

As long as one party to the home's title is 65-years old or older, the homeowners qualify for this deferral of annual payment.

Consult your tax adviser or attorney to see how this tax deferral might benefit you.

BILL CHERRY, REALTORS

DALLAS - PARK CITIES

Since 1964

214 503-8563

HIGHLAND PARK & UNIVERSITY PARK - A Snap Shot of Public Schools of Highland Park ISD

01-30-11
BILL CHERRY
BILL CHERRY: Real Estate Agent in Dallas, TX

HIGHLAND PARK INDEPENDENT SCHOOL DISTRICT SNAP SHOT

These are the public schools that are in the Highland Park Independent School District. While the information was collected by the U.S. Department of Education and published in 2005, it still gives a valid look as to what the schools look like that service the Park Cities. The zip codes used for this report are 75205 and 75225.

*Comments and questions are welcome by email only, and should not be sent anonymously. Comments are restricted from being able to be posted to this blog.

PUBLIC SCHOOLS SERVICING HIGHLAND PARK AND UNIVERSITY PARK


HIGHLAND PARK HIGH SCHOOL

4220 EMERSON AVE

DALLAS, TX 75205

214-780-3700

Type:

High School

Start Grade:

9th Grade

End Grade:

12th Grade

# Students

1974

# Full-time Teachers

121.6

Student/Teacher Ratio

16.2

Student Demographics

Hispanic

67

3.4%

White

1861

94.3%

Black

6

0.3%

Native American

8

0.4%

Asian

32

1.6%

Special Programs

Migrant Students

0

0%

Free Lunch

0

0%

Reduced Lunch

0

0%

Free or Reduced Lunch

0

0%


HIGHLAND PARK MIDDLE SCHOOL

3555 GRANADA AVE

DALLAS, TX 75205

214-780-3600

Type:

Middle School

Start Grade:

7th Grade

End Grade:

8th Grade

# Students

961

# Full-time Teachers

64.9

Student/Teacher Ratio

14.8

Student Demographics

Hispanic

32

3.3%

White

892

92.8%

Black

6

0.6%

Native American

2

0.2%

Asian

29

3%

Special Programs

Migrant Students

0

0%

Free Lunch

0

0%

Reduced Lunch

0

0%

Free or Reduced Lunch

0

0%


ARMSTRONG ELEMENTARY

3600 CORNELL AVE

DALLAS, TX 75205

214-780-3100

Type:

Primary School

Start Grade:

Prekindergarten

End Grade:

4th Grade

# Students

542

# Full-time Teachers

35.4

Student/Teacher Ratio

15.3

Student Demographics

Hispanic

27

5%

White

494

91.1%

Black

1

0.2%

Native American

0

0%

Asian

20

3.7%

Special Programs

Migrant Students

0

0%

Free Lunch

0

0%

Reduced Lunch

0

0%

Free or Reduced Lunch

0

0%


BRADFIELD ELEMENTARY

4300 SOUTHERN AVE

DALLAS, TX 75205

214-780-3200

Type:

Primary School

Start Grade:

Prekindergarten

End Grade:

4th Grade

# Students

600

# Full-time Teachers

37.5

Student/Teacher Ratio

16

Student Demographics

Hispanic

19

3.2%

White

566

94.3%

Black

3

0.5%

Native American

2

0.3%

Asian

10

1.7%

Special Programs

Migrant Students

0

0%

Free Lunch

0

0%

Reduced Lunch

0

0%

Free or Reduced Lunch

0

0%

HYER ELEMENTARY

3920 CARUTH BLVD

DALLAS, TX 75225

214-780-3300

Type:

Primary School

Start Grade:

Prekindergarten

End Grade:

4th Grade

# Students

579

# Full-time Teachers

37

Student/Teacher Ratio

15.6

Student Demographics

Hispanic

10

1.7%

White

562

97.1%

Black

1

0.2%

Native American

1

0.2%

Asian

5

0.9%

Special Programs

Migrant Students

0

0%

Free Lunch

0

0%

Reduced Lunch

0

0%

Free or Reduced Lunch

0

0%


UNIVERSITY PARK ELEMENTARY

3505 AMHERST AVE

DALLAS, TX 75225

214-780-3400

Type:

Primary School

Start Grade:

Prekindergarten

End Grade:

4th Grade

# Students

676

# Full-time Teachers

38.9

Student/Teacher Ratio

17.4

Student Demographics

Hispanic

19

2.8%

White

633

93.6%

Black

0

0%

Native American

1

0.1%

Asian

23

3.4%

Special Programs

Migrant Students

0

0%

Free Lunch

0

0%

Reduced Lunch

0

0%

Free or Reduced Lunch

0

0%

*I have disabled the ability for readers to comment on this blog. If you have questions of comments, you're welcome to email me. I will not respond to anonymous communications or those that do not respectfully address the subject matter.

BILL CHERRY, REALTORS

DALLAS - PARK CITIES

Since 1964

214 503-8563

SO WHAT IS REALLY GOING ON IN THE PARK CITIES MARKETS?

01-29-11
BILL CHERRY
BILL CHERRY: Real Estate Agent in Dallas, TX

One could spend a great deal of time gathering and analyzing the statistical information that can be acquired by members of the Multiple Listing Service that serves Dallas.

I'm especially interested in what goes on in the Dallas Park Cities, more specifically within two zip codes - 75205 which primarily serves Highland Park, and 75225 which primarily serves University Park.

And they are interesting to compare and contrast.

Today, Saturday, January 29, 2011, here's what I learned as I called up those properties that are on the market now, and those that have sold within the past 6 months for $1,000,000 or more:

Highland Park

In Highland Park, there are 96 homes listed for sale. The most expensive is $16,000,000. There have been 49 homes sold since July 2010 with the most expensive being $8,000,000 and that one was discounted $2,000,000 from its last listed price.

So if not one more home were to be listed for sale before all now listed were sold, today there is a 12 month supply.

The median price per square foot for those being offered for sale is $399.00

The median price per square foot that those that sold was $377.96. That is approximately 10% lower than the last prices the properties were being offered for sale at the time the purchase transpired.

University Park

In University Park, there are 78 homes listed for sale. The most expensive is $4,295,000. There have been 68 sold since July 2010 with the most expensive being $2,600,000. So again, if not one more home were to be listed for sale before all now listed were sold, there is a 7 month supply.

The median price per square foot for those being offered for sale is $314.00. The median price per square foot for those that sold was $273.33. That is approximately 9% lower than the prices the properties were being offered for sale at the time the purchase transpired.

Some Thoughts

There are a couple of thousand Realtors who focus a great deal of their attention to listing and selling homes in the Park Cities. So it is easy to conclude that if a home doesn't sell quickly, it's the fault of the market, not how the home is being marketed.

Preparing a home for the market requires the homeowners and the listing agent working together in concert. That is especially true in what is, no doubt, an over-saturated market. It is the job of the listing agent to enter the property into the competition so that it can do its best to stand out among all of the others.

In addition to proper pricing, staging and marketing, more often than not it requires the inclusion of the experience of the listing agent -- an experience that comes to their mind, for the most part, intuitively. That properly done, in the Park Cities, the listing will have the attention of those 2,000 or so agent.

Where Do I Fit Into This Picture?

Throughout my entire career, I have primarily and successfully represented the members of the luxury home markets in Texas, as well as oft times in major cities throughout the United States. And I begun this adventure in 1964. Several thousand transactions, all told. In fact, less than 1% of America's Realtors have been in business for as long as I have.

If you are planning to sell your home in the Park Cities, you may be interested in comparing my listing presentation to some of the other fine Park Cities Realtors. And you'll want to scan through some of my references.

BILL CHERRY, REALTORS

DALLAS - PARK CITIES

Since 1964

214 503-8563

Bill's Wikipedia Biography

New Homes in the Park Cities - University Park and Highland Park Texas

01-24-11
Bruce Lynn
Bruce Lynn: Real Estate Agent in Coppell, TX

If you are looking for new residential construction in Park Cities, TX and the DFW Dallas - Fort Worth Metroplex area, you've come to the right place. Click on the link for a list of New Homes in University Park and Highland Park, TX. Please be advised new construction has slowed significantly in the past couple of years. There are often very few spec homes built by builders, so often you will need to start the process from the ground up. Many areas like Addison, Flower Mound, and Plano have very few new residential developments due to space constraints.

Lots of people like to shop for new homes on their own. My advice is to STOP, call Bruce Lynn, Your Realtor with Keller Williams Realty first at 214-675-6992 and bring me with you on the VERY 1st visit to the builder. You will save time, money, and often lots and lots of headaches. For us to be able to best assist you, most builders require that you bring us with you on the first visit. You will find at the bottom of this page many reasons to use a realtor in your NEW home purchase. Please review them before you even get in the car and start a fun day of looking and shopping for a new home. Building a new home can be a lot of fun and very exciting, but it can also be very painful and full of frustrations when things don't go right. Rarely is the new home purchase process a walk in the park. In my experience there is often a high degree of dissatisfaction with the builder when a Realtor was not involved. Don't you want FREE* advice, representation, and someone in your corner fighting for you? Remember the builders reps work for the BUILDER, not for you. Of course they will be nice and friendly, but they are working against you, not for you, just like the salesperson the last time you bought a car. If you just can't resist the urge to stop and look, be sure to fill out the registration card with the builder with our name on it. Tell them you are already working with us, so there is no confusion. Please please please let us review the contract BEFORE you sign it. There never should be a rush to sign.

Check back each month for our latest finds. If what you need isn't listed here, send me an email at rb@teamlynn.com or call me at 214-675-6992 and we will set up a search specifically to meet your needs. That way you can beat other buyers to the best properties. If you or anyone you know is selling or buying real estate in the DFW Dallas Fort Worth Metroplex area, please feel free to pass along this link or have them contact me directly.

***NEW HOME***

***BUYER BEWARE***

If you are considering building or buying a new home you need someone in your corner to protect your interests. A home purchase is the largest investment most people make in their lifetime and you have the chance to be represented for FREE and at no cost to you. There are people who have successful experiences working with both custom home and tract builders. However, I also hear lots of complaints from dissatisfied buyers who were not familiar with the process, the contracts, and the shortcuts many builders take to improve their profits or what do when things go wrong. I've seen builders sell the wrong lot, the same lot to two different people, sell the wrong elevation, put on the wrong brick, install defective floors, install defective roofs, install defective granite countertops, install AC/Heat units incorrectly, not put in insulation, install no outside water faucets, forget to install telephone, cable, and security wiring, and many other bad situations. What will you do if this happens to you? Will you even notice? Who's looking out for your interests? You see the builder's reps are normally nice, friendly and helpful, but they are not looking out for your interests. Just like the car salesperson, they are representing the builder's interests and profits. The good news is that you can have someone in your corner fighting for you and protecting your interests ever step of the way. Call Bruce at 214-675-6992 or 800-385-9355 before you even visit the builder's models for the first time. Don't buy a new home without representation:

  1. The builder's reps are expert negotiators. Are you? How many homes have you purchased this year or this lifetime? We have assisted hundreds of buyers and have a fiduciary duty to protect your interest.
  2. Some people think it costs more to use a Realtor, but in fact I regularly save my clients money versus them going directly to the builder. We bring multiple clients to the builders and they know that. They want our volume. You're only buying one home, but in some cases they even pay us bonuses to bring multiple customers to them. Be sure to ask me if you are eligible for a builder rebate. Most builders want you to have representation and have a separate marketing budget to pay our fees. In any case it won't cost you more.
  3. Most builders require us to be with you at your initial visit. This is always a good idea. We'll help you find the right builder who offers the best value and the right neighborhood. If you have already visited the builder or a model home please call me immediately and before you sign anything. Don't risk a nightmare!
  4. We'll also advise you on when to get inspections and how often. Believe me when I tell you the city building inspector is NOT ENOUGH. You'll likely never see them because they're in and out of your home in 5-10mins each time they visit. They won't give you a written report and they certainly don't answer to you. We recommend professional licensed inspectors who will work for you to get the best quality home possible.
  5. Many builders don't accurately inform you about property taxes. Get the latest and accurate information on taxes before you buy. I hear over and over horror stories that builders are not collecting enough taxes at closing and sticking it to buyers a year later with $3000, $4000, or higher tax bills that were unplanned. Go at it alone and don't be surprised if your payments go up hundreds of dollars after your first year.
  6. If you hear a builder say we will sell for X and we know it will appraise for X+Y, and therefore you walk in with built in EQUITY. Don't walk, but RUN out of that office. This is a common line used among many to entice you to buy.

Call Bruce today at 214-675-6992 and we'll get you started on the right path to home ownership.

More Resources:

JD Power Satisfaction Survey
Texas Residential Construction Commission
D Magazine Best Builders List
Certified Master Builder

What we do for you:

  • Listen to your needs and assist you match the best neighborhood, builder, and value for your money.
  • Analyze designs to get you the best value and fit for your family's needs.
  • Analyze lot locations, lot layout, elevations, utility easements, traffic patterns, and other possible future impacts on value.
  • Meet you at the design center and assist you pick the best value options.
  • Review builder's contracts with you before signing.
  • Review financing options to get you the best interest rates and lowest closing costs.
  • Meet you at the design center and assist you pick the best value options.
  • Attend redline plan review meetings with you.
  • Recommend licensed inspectors, timelines, and review their findings with you.
  • Negotiate inspector recommendations with you and the builder.
  • Do final walk-through with buyer; recommend mechanical inspection firms.
  • Attend closing with you for review of closing statements and financing contingencies.

Check out these DFW Area Builders:

Out of Business Builders:

  • Choice
  • Goff
  • Kimball Hill
  • Pasquinelli Homes
  • Sotherby
  • Woodhaven

New Homes in Other North Texas Cities:

Disclaimer:

*We represent you when you sign our standard buyer's representation agreement and require the builder to pay us to represent you.