A chat with Jeannie Anderson of Compass, who is also the real estate agent for one of three homes that comprise the first annual Fort Worth Magazine Dream Street.
One of Fort Worth Magazine’s three 2020 Dream Street homes, being built side by side at the end of a cul-de-sac in Southlake’s Oxford Place luxury development, is already under contract to be sold. The three homes are scheduled to be completed late this summer and be open for tours in October to benefit a Wish with Wings, our official charity. Realtor Jeannie Anderson put the one-story, 6,000-square-foot home by builder Jon Atwood under contract; it listed at $3.2 million. Anderson, who works for Compass, which has the listings for all 11 lots in Oxford Place, including the other two Dream Homes, sat down for a Q&A with the magazine about the luxury market in the Southlake-Westlake-Colleyville corridor.
PROSPECTIVE BUYER OF THE ATWOOD HOME
“The prospective buyer reached out because they were wanting to build a house. When you get in that $3 million price point, they want custom, and they know exactly what they want. Their agent, my builder, and I were all walking a lot in Oxford Place. We started talking about the Dream Home. [Husband and wife] have two sets of twins. She’s a physician. The way the house is laid out, it’s ideal. It’s one story. They’re getting to make some changes. Plus, they can save the time of not having to design a house.”
IMPORTANCE OF THE ONE-STORY
“I think it was pretty important to them. A lot of people are liking this one-story feel right now. [With the aging of the population], we see more and more people preferring a one-story if it can be done. The only reason it can’t be done is if they have smaller lots, and they have to go up.” [All Oxford Place lots are one acre.]
STRENGTH OF THE MARKET AMID COVID-19
“The market is really good here. We definitely have an increase right now as far as listings that are under contract. Compass in general has seen a 40% increase in homes that are either contract or sold this year, versus last year at this time. With COVID-19, we just changed some of our strategies. We stated doing more live virtual tours. We started doing virtual open houses. I’m selling to someone in the U.K. right now by video. We picked up and increased paperless transactions. We really haven’t slowed down. The only thing that slowed down was when we weren’t able to have a house open.”
INCREASED BUYER INTEREST IN LESS DENSITY AMID COVID-19
“Searches of people looking for single-family homes have gone up three times, instead of condo and urban living. We’ve seen increases of people looking for outdoor space and in the suburbs with pools. I think COVID-19 has put a little scare in people, and it’s pushed us more into family life. [Interest in] urban living has gone down a little, and you’ve seen more [interest in] suburb living.”
MARKET CONDITIONS
“Southlake, Westlake, it’s still strong. In Southlake, there are 127 active [listings] on MLS right now. Year to date, [MLS shows] already over 200 Southlake [listings] that have already sold. There’s a lot that doesn’t go on the MLS. I have 10 homes that never hit the MLS because they’re new. $970,000 is the average sold price in Southlake. Westlake has 47 active [listings], 11 sold or pending since January. $2.5 million average [sold price].”
In Colleyville, Compass has the listings for the lots and build jobs in the Oakleigh neighborhood, home of the magazine’s Showcase Home Colleyville last year. “You’re probably about 60-75 days on the market. I sold at $1.6, $1.7, $1.8 million [for lot and home]. The prices have been strong. You’re getting a couple of builders who are getting worried [because of the start of the summer season], but it’s still been strong. Out of 23 lots, we’re probably down to nine lots.”
SUPPLY OF LOTS
“The lots are limited. We’ve been kind of landlocked for a little while. When we get a subdivision like Oxford that has 1-acre lots, it’s such a rare occasion. We’ve probably got two subdivisions that have 1-acre lots in all of Southlake.”
THE $3 MILLION DREAM STREET PRICING
“It’s not that unusual. In Southlake, we really can’t build less than $325 a square foot. In Westlake, it’s probably closer to $400 per square foot.”
Dream Street Builders and Subcontractors
Fort Worth Magazine has teamed up annually for two decades with luxury homebuilders, designers, Realtors, and subcontractors to build Dream Homes and show off the latest in building, design, and fashion trends. Here are the Dream Street partners who’ve come on board so far for this year’s Dream Street in Southlake’s Oxford Place development.
1100 High Court, Lot 6 (Under contract to be sold)
Builder: Atwood Custom Homes
Home plans: J Bolton & Associates
Interior: Stacy Furniture & Design
Realtor: Jeannie Anderson, Compass
Appliances: Expressions Home Gallery
Cabinets, kitchen: The Kitchen Source
Concrete flatwork: Blythe Concrete
Countertops fabrication: Absolute Stone & Tile
Countertops material: Levantina
Doors, exterior: Quarles Lumber
Drywall and texture: Alliance Drywall
Fencing iron and automated gates: Lambert’s Ornamental Iron
Fireplace inserts, interior: Overhead Door Company of Fort Worth
Fireplace, Isokern and insert: Overhead Door Company of Fort Worth
Fire protection systems: Safe Life Fire Protection
Flooring, tile materials: Interceramic USA
Flooring, wood and tile labor: North Texas Surfaces
Flooring, wood, materials: DuChateau
Garage doors/openers: Overhead Door Company of Fort Worth
Gutters: Loveless Gutters
Hardware, cabinets: Rick’s Hardware & Decorative Plumbing
HVAC: Hawk Air Company
Insulation: New Leaf Foam Insulation
Landscape/irrigation/grade/lighting: Guardado Landscaping
Light fixtures and outdoor lighting: Passion Lighting
Low voltage/AV/security: H Customs Audio/Video
Lumber and trusses: Builders FirstSource
Paint: Benjamin Moore
Patio furniture: Yard Art Patio & Fireplace
Plumbing fixtures: Ferguson
Plumbing labor and supplies: Posey Plumbing
Pool: Claffey Pools
Roofing: Texas Tile Roofing
Shower glass and mirrors: Galactic Glass LLC
Site surveillance: SiteViewPRO
Stucco material and labor: Centurion Stone of DFW
Windows and interior doors: Quarles Windows
3D virtual tour: Metroplex360
1104 High Court, Lot 7 (Listed for sale, $3.825 million)
Builder: Heritage Homes
Home plans: Paragon Design Group
Interior: Elements of Design
Realtor: John Zimmerman, Compass
Appliances: The Jarrell Co.
Cabinets, kitchen: The Kitchen Source
Cabinets, master closet and all other: Mike Conkle’s Custom Cabinets
Concrete flatwork: Metroplex Concrete Construction
Countertops fabrication: Absolute Stone & Tile
Countertops material: KLZ Stone Supply
Doors, exterior: Quarles Lumber
Drywall and texture: Alliance Drywall
Electrician: C&B Electric
Fencing iron and automated gates: Lambert’s Ornamental Iron
Fireplace inserts, interior: Overhead Door Company of Fort Worth
Fire protection systems: Safe Life Fire Protection
Flooring, carpet and wood, materials and labor: Vintage Floors
Flooring, tile materials: Florida Tile
Flooring, tile-setting labor and supplies: Galvan Floors
Framing: Lone Star Framing & Construction
Garage doors/openers: Overhead Door Company of Fort Worth
Garage epoxy coatings: Premier Custom Floors
Gutters: Loveless Gutters
Hardware/cabinets: Pierce Fine Decorative Hardware and Plumbing
HVAC: ICE HVAC
Insulation: New Leaf Foam Insulation
Landscape/irrigation/grade/lighting: Verde Outdoor Solutions
Light fixtures and outdoor lighting: Passion Lighting
Low voltage/AV/security: Multimedia Solutions
Lumber and trusses: DeFord Lumber Co.
Paint: Sherwin-Williams
Paint labor: J & V Painting
Plumbing labor and supplies: Pro Serve Plumbing
Pool: Leschber Designs
Roofing: Ramon Roofing
Shower glass and mirrors: Galactic Glass LLC
Site surveillance: SiteViewPRO
Stairs and railings: Lambert’s Ornamental Iron
Stucco material and labor: Centurion Stone of DFW
Windows and interior doors: Quarles Windows
Wine room cabinets: Vineyard Wine Cellars
3D virtual tour: Metroplex360
1105 High Court, Lot 5 (Listed for sale, $3.795 million)
Builder: WillowTree Custom Homes
Architect: Flynn+Watson Architects
Interior: Susan Semmelmann Interiors
Realtor: Tommy Pistana, Compass
Appliances: Expressions Home Gallery
Cabinets, kitchen: The Kitchen Source
Cabinets, other: JIL Custom Cabinets
Concrete flatwork: Blythe Concrete
Countertops fabrication: Absolute Stone & Tile
Countertops material: Levantina
Doors, exterior front: M2 Metals Iron Doors
Drywall and texture: Alliance Drywall
Electrician: MPT Electric
Fire protection systems: Safe Life Fire Protection
Flooring, tile materials: Daltile
Flooring, wood and tile labor: North Texas Surfaces
Flooring, wood, materials: DuChateau
Garage doors/openers: Open Up Garage Doors
Gutters: Loveless Gutters
Hardware, cabinets: Pierce Fine Decorative Hardware and Plumbing
HVAC: Hawk Air Company
Insulation: New Leaf Foam Insulation
Landscape/irrigation/grade/lighting: Joey Design Irrigation and Landscapes
Light fixtures and outdoor lighting: Passion Lighting
Low voltage/AV/security: ComwareAV
Lumber and trusses: DeFord Lumber Co.
Paint: Benjamin Moore
Paint labor: J & V Painting
Patio furniture: Yard Art Patio & Fireplace
Plumbing fixtures: Expressions Home Gallery
Plumbing labor and supplies: Posey Plumbing
Pool: Claffey Pools
Pool Table: Fort Worth Billiards
Shower glass and mirrors: Fashion Glass & Mirror
Site surveillance: SiteViewPRO
Stone materials: Texas Stone Creations
Stucco material and labor: MCD Stucco
Wine room cabinets: Vineyard Wine Cellars
3D virtual tour: Metroplex360
