Mountain Homes
Read this story on CandysDirt about how the rich seem to be accelerating the size and scope of their new homes. Then know this: whatever is happening to the primary home market is being mimic’ed in second and third homes. Prices may be soft, but the rich are getting out their checkbooks for beach homes…
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I know we just broke the 70 day plus cycle of 100 degree plus days in Dallas but really, it’s time to start thinking about ski season. Jack frost is just around the corner and so much more bearable when you have your own private ski house. Or, in this case, $48,500,000 Aspen estate. Jigsaw…
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If you want to look at a market that makes residential real estate even in say, Detroit look good, look at second homes. Last year, the median price of a vacation home in the U.S. fell 11%. Compare that to what the National Association of Realtors tells us the ordinary primary residence did — fell 5 percent …
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Do you find it impossible to get anything done in Dallas in August? Let’s face it: everyone in town has taken a hike. And do you blame them? I’d much rather be at the seashore in Maine, on the Gulf Coast at Alys Beach, even down at Cinnamon Shore (which opens a new coffee house next week)…
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Update: I’ve received a note from Mr. Wyly’s cousin (in comments) clarifying that the Michaels Arts & Crafts stores that were founded by Charles and Sam Wyly were sold while quite profitable. The business downturn apparently with subsequent owners. I am sad to report that Dallas philanthropist and billionaire Charles Wyly, whose name is on the Dee and Charles…
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Let’s face it: if you had to pick the most suffering, beat-up child in this real estate mess, it would be the second home market. This is probably the worst time ever for the second home market because most areas overbuilt during the boom, priced too high, and are now left with inventory. Getting a…
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