Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Dallas Real Estate- New, Elite Neighborhood Starts at $4M

Dallas Real Estate- New, Elite Neighborhood Starts at $4M

The property at the corner of very busy Royal and Inwood was finally settled.  It will be turned into a very Elite Neighborhood called the Creeks of Preston Hollow.  Perot's company, Hillwood Residential will be working the deal.

They are anticipating building 17 properties within this 22 acre area.  Some will be spec homes and others will be custom.  Lot prices alone will range from $1.5- 3.5M and the homes themselves will range from $4-12M.

So, if you're going to spend anywhere near $4M, wouldn't you want the entire house to be custom?  I can't believe they would build a spec in this price range.  They're going to start building and then a buyer, with lots of money and power, will come by and ask for this wall to be moved and this room to be added and on and on.  With this type of money, they should all be custom homes.

Specs are good for the under $200k price (in the Dallas market), but once you get higher than that, the buyers like things to be custom to their likings... maybe the builders will allow these "Elite" buyers to at least pick the flooring!!

Comment balloon 1 commentDonna Harris • August 22 2006 11:37AM

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Donna we have seen 3 million dollar specs here sell they were lakefront lots but usually in this price range people want to build what they want as you say.   Some people just don't care thought and are ok with having the whole process done.
Posted by Teri Isner, GRI, CRS, CIPS (Keller Williams Realty at the Lakes) about 12 years ago

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