This home is an amazing opportunity for someone. It’s being sold as a total remodel or tear down, but the location is amazing. Big, tall, beautiful trees, quick access to 75, close to Snider Plaza, Northpark, Central Market, and so much more. But probably the biggest gain for this property is the new elementary school a few blocks north at Durham and Wentwood. To read more on that click HERE.
Right now, there’s a bunch of emotion surrounding the new elementary school. Mainly because it’s not technically a new elementary school yet. As the district rebuilds 3 out of the 4 existing elementary schools, the new building is a round robin of sorts. So for now, Hyer Elementary occupies the building, so it’s called “Hyer.” A lot of local people aren’t crazy about how things had to be handled, but people are settling in. Mostly, people don’t like change and in the end, I think people will be happy the tough decision were made.
That said, in a few years, that building will become the 5th elementary school in HPISD. This corridor is one of the last frontiers in the Park Cities that has room for some real growth and upward trajectory. There are a few other little pockets, but the linch pin for this area is the new school. It is my opinion that values in this area are going to remain lower for the next couple of years (great time to buy) and then gradually begin to increase as the new school starts to get established.
Enter our latest listing: 7322 Centenary.
What to Know:
A. Builders have come to this area seeing the lower the prices and they’ve build a product that the consumer doesn’t want therefore, they’ve had a hard time selling. The consumer doesn’t want 7500+ square feet and no yard. More importantly, they don’t want to PAY for 7500 square feet when they know they’ll use 4500 of it. Additionally, consumers want nice, updated family homes. What do I mean? They don’t necessarily want their children half a mile away from them. They want to have some eyes and ears on them. Appropriate Space? Yes. But too much space? No. Also, they don’t want to pay $2M+ for a home in the 7000’s. I believe that will change over time, but for now, proper updates to existing structures is where the most potential increase in value lies.
B. The 7000 blocks in Park Cities are City of Dallas, but Highland Park Schools. What does that mean? You have City of Dallas utilities, waste management, fire, & police, but Highland Park Schools. Why does that matter? Typically response times are quicker for UP police and fire. However, the City of Dallas and the City of University Park do a great job working together to serve the people living in this cross-over area. In fact, a brand new street is being paved as we speak in front of 7322 Centenary!
C. Don’t want to build? The home could absolutely be taken to the studs and become a fabulous home and investment for someone! The three car garage is particularly nice, because that is a rarity in the area.