While Hurricane Harvey insurance claims are the first thought these days, every homeowner should know about a change to Texas homeowners insurance law that will go into effect on Friday.
House Bill 1744 was signed into law May 27 by Gov. Greg Abbott. Billed as tort-reform legislation that would reduce the opportunity for insurance fraud, some now say the law may very well get its first stress test in the wake of Hurricane Harvey.
The law reduces the penalties insurance companies can face if they settle claims for too little, and it lessens the chance the companies will have to pay the homeowner’s attorneys fees if the homeowner sues. It also protects individual agents from things like diminished credit scores if they are individually sued.
The bill addresses all weather-related damage — including floods, wildfires, hail, and hurricanes.
If you’ve dreamed of vacationing in Taos, New Mexico, Crested Butte, Colo., or Destin, Flor., mark your calendars for a fabulous silent auction offering stays at three luxury vacation homes in those locations.
The No Place Like Home vacation home silent auction event will benefit Austin Street Center, a nonprofit that has provided emergency shelter, food, and clothing to the most vulnerable homeless men and women in Dallas for 30 years.
“By leveraging vacation properties owned by Austin Street Center supporters and friends, we will be able to provide a unique opportunity to both our donors and auction winners,” said Becca Leonard, development director at Austin Street Center. “Donors will generate much-needed funds for Austin Street at little to no cost to themselves, and attendees will have the chance to win a stay at one of many fabulous spots around the country—only their vacation will benefit the homeless here in Dallas.”
Hey guys, listen up. I’ve finally got my own TV Show! It’s called Party Line Real Estate, it’s loaded with real-time Real Estate news, and you are going to LOVE IT!
I LOVE IT when Real Estate agents get together and TALK! After all, that’s how they network! And we know there is no better way to network than at a party with the top agents in town, great food, a little string quartet music, and a Candy Bar! Well, we got a whole camera crew and invited Realtors to have some fun and give me the inside scoop on this crazy market. It was such a success, we are going to have a partyand a Candy Bar every month! And you are invited to come and share!
SecondShelters.com welcomes its newest expert contributor, Dallas Addison, who really IS from Dallas, Texas!
My name is Dallas Addison, and my passion is real estate. I’m trained as a lawyer and have helped many clients throughout the country buy, sell, develop and manage all types of real estate over the years, with a particular focus on recreational and hospitality-based real estate, such as golf courses, resorts, ranches, second homes, etc. I’m also a founding principal of Preservation Land Company, which has created several incredible (if I may say so) conservation-based recreational ranches near Dallas and worked on projects in Montana, Hawaii and New Mexico. On the educational side, I’m a long-time member of the Recreation Development Council of the Urban Land Institute, a global organization of leaders in the real estate industry whose mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.
I will be sharing with you interesting, exciting things that are going on in recreational real estate (which we’ll broadly define) across the country. We think it’s important to know that your source is not only reliable but actually 100% involved in the recreational real estate industry.
I also have a strong personal interest in how sustainability concepts are applied in recreational real estate. While completely overused, the concept of sustainability still has merit. Locally, it’s darn hot here and by the looks of our rapidly dropping lakes, we’re using lots of water. Plus, our area is quickly growing, one way or the other, putting even more stress on our resources. We should be looking to make choices that create better and more livable communities. So, where I see interesting and innovative sustainability practices being applied, I want to share those as well. Hopefully those ideas will take root and help us manage the growth without depleting our resources.
Finally, how did I connect with Candy? Well, interestingly, her husband unexpectedly delivered our first daughter, but that’s not actually how we met. We bumped into each other years ago as we share a passion for real estate. She came out to visit one of our projects, Cross Pines Ranch, near Mineola. We’ve had many interesting conversations about what’s going on in this space and we thought others might want to listen in on the conversation.
Stick around, and I think you’ll enjoy the ride. We will be having the Aspen report, just in time for ski season, new news out of Hawaii’s Big Island, and one of my favorites: Cross Pines Ranch near Mineola, pictured here. Come back, come often, and join the discussion!
Looking to find a little estate in the Loire Valley but your spouse wears a “France Sucks” tee? You can have 25 acres that resemble the French countryside and a 48,000 square foot estate so perfect you may never wish to leave. The 25 acre estate of Thomas O. and Cinda Hicks on Walnut Hill Lane and Hollow Way Road in Preston Hollow just hit the non-MLS market for a whopping $135 million. For more photos and all the scoop, check out the site of Douglas Newby, who is the agent.
And it may actually now be the most expensive home listed in the entire United States!
For years, the Crespi Estate has headed every list of the Most Expensive Home in Dallas. But, having been inside it, I can tell you this home is about so much more than money. There was speculation when former President Bush bought his home on Daria that he wanted to be near the Hicks, and perhaps utilize their helicopter landing area. (Hicks does not have a concrete helicopter pad, I learned at the time, but he does have the lighting.) The Hicks have a rear auto estate entrance just a few feet from the Dallas North Tollway service road. The Hicks family hosted numerous Mayfllower Estates homeowners meetings introducing the Bushes to the neighborhood.
According to Doug, Mr. and Mrs. Hicks acquired the Crespi estate 16 years ago and Cinda spent five to ten years completing the architectural vision of the original architect, Maurice Fatio. She brought in international architect Peter Marino from New York and worked painstakingly on the home, refining and honoring Fatio’s proportions and architecture. I have heard from knowledgeable sources they spent close to $100 million on the expansion and remodel. The Hicks have raised six children in the house and are now empty nesters in a home DCAD sizes up at 28,996 square feet for the main structure, 6300 for the guest house, and 7200 for the pool house. That might be a little large for two people, eh? Tom Hicks is the former chairman of Hicks, Muse, Tate & Furst, an investment banking firm, and he once owned the Stars and the Rangers. Hicks sold the Rangers for around $590 million in 2010. He recently just this January settled disputes with Texas Rangers Baseball Partners administrator Alan Jacobs. He is now the chairman of Hicks Holdings and currently making several exciting business acquisitions.
Doug says the dirt in Mayflower Estates is valued at $2 million per acre, which would be about $50 million, and the residence with pool house, guest house and main house comprises 42,500 square feet for a grand total of $85,000,000.
So it appears it will take $135,000,000 to buy The Crespi Estate. Did I get all those zeros right? This makes our Mt. Vernon look like a Blue Light Special.
But really, $135 million is nothing for the most refined, sophisticated residence in Texas on an expansive 25 acre estate that is merely 8 minutes from downtown Dallas, the Arts District, 40 minutes from D/FW or really, what matters, 15 from your private jet hangar at Love Field. I have been in this home and seen what the Hicks have created and it would be impossible, impossible to replicate it. A new owner could even add a stable: one horse per acre in Preston Hollow!
As Doug described it so aptly in this post for The Huffington Post:
“A winding private drive descends to the home beautifully placed in front of a creek flowing across the 25-acre estate property. It is majestic, dignified and graceful. The home is also warm and fun. The design exudes elegance and the architecture, a subtle power. The architectural massing of the main house, guest house and pool house convey a home that is grand yet serves primarily as a place for a family to live. The sensibility for the past is blended skillfully with the technology and resources of the present, presenting visual continuity. The estate owners honored the original family, architecture and history of the home with an inspired approach — one that creates the impression that the home has not been renovated or expanded, but truly and magnificently completed.
I WISH I could call it “re-construction”, as I almost did, and I wish I could report that it was just me getting my boob job to start out 2013 on a higher level.
No, it’s better! We are in the process of expanding our site, making it bigger, better, easier to read, click, and. Already we have Facebook comments, and we will be posting a clone of this fun site on CandysDirt.com, making it a one-click stop to read about second and vacation homes. We are going to have more home design and upkeep info, and generally more resources for our beloved, rapidly-growing network of readers and subscribers.
Among the new features making their debut in the January re-launch of CandysDirt.com will be a sleek new homepage providing readers with access to all the real estate scoop and “House Porn” their heart desires, right at their fingertips. We will also have:
– A re-vamped listing of CandysDirt.com-approved builders, since we are so selective about who we approve. Each builder is vetted and personally approved by us before their name crosses our homepage. Note: we hope to do this eventually with second homew builders.
-A comprehensive listing of top-notch neighborhoods and what makes them go tick/tock.
-Access to news and posts covering relocation (Move Me), home décor and staging (Stage Me), as well as outdoor entertaining and landscaping trends (Green Me),
-Easier access to SecondShelters.com where readers can indulge themselves in fabulous second home fantasies and vacation properties. Course, you can always come here as you always have.
– Hip Pockets: in the tight world of Dallas real estate inventory, we are working to bring you listings before they even hit the market or MLS.
So please bear with us. I’ll try to vacuum up the dust as Amy and Kristen hammer and saw, and Jo is in the other room with a dust mop. Meantime, please let us know what you think, like or don’t like about the new site. Tell us what else you’d like to see (or have missed) in case we are missing something. Cheers!
Well I had an interesting day yesterday. Started at the North Dallas MLS Meeting, ended up in court. Seems Dr. Richard Malouf and his wife want a temporary restraining order against me, Byron Harris, WFAA-TV, and Laura Wilson, mother of Owen Wilson, who lives next door to Richard and Leanne. That’s right, they are suing their next-door neighbor. This is all public record, so happy reading — oh the part about climbing on Mrs. Wilson’s roof and the camera in the closet, and, well, ALL of it, to quote a dear friend of mine: You just can’t make this *%#$@! up!
If any of you were as surprised as I was over this Medicaid deal — I mean, I know what Medicaid reimburses physicians for medical care and it is barely enough to cover the exam table paper in the office — it seems as though the problem stemmed from a 2007 civil lawsuit (that really started in 1993) that made the state increase reimbursement rates for Medicaid dental services:
“The suit, a federal class action filed by parents in 1993 against state officials, alleged Texas was failing in its duty to ensure that children on Medicaid received proper preventative care in dental and other areas. Eligibility for Children’s Medicaid in Texas is pegged to income. In 2007, Texas legislators agreed to settle, conceding that there was a dwindling number of doctors and dentists in the state willing to treat Medicaid patients and agreeing to increase Medicaid-reimbursement rates. A 2012 report by the House Committee on Oversight and Government Reform offered case studies in various states of supposed Medicaid abuse; it cited dental services in Texas as a particular problem area. By 2010, according to the report, Texas’ Medicaid program was spending more on braces than the other 49 state Medicaid programs spent combined on such orthotics.“
This is just what Byron Harris reported, and I wonder why the WSJ doesn’t mention his report. It has also, like always, resulted in the loss of services for kiddos who really need it: All Smiles Dental Professionals P.C., has shuttered 13 orthodontic offices in the Dallas area because of the investigation, leaving an estimated 12,000 Medicaid-eligible patients without care.