This Preston Hollow Stunner with Grand Space Emphasizes Why Right-Sizing is All The Rage

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It’s no secret that Dallas’ real estate market is still hot. From cash offers to hip pocket listings to bidding wars, we’ve seen it all. But what are these buyers clamoring for? We caught up with Carroll/Eltis Group, the Douglas Elliman real estate duo led by Aaron Carroll and Blake Eltis on the latest real estate trends Dallas is seeing right now. One trend that’s all the rage? Right-Sizing. Carroll and Eltis offer up what’s on the market right now, why this craze is happening, and what to expect for the spring.

The real estate market appears to be buzzing. Is that trend something we should expect to see throughout the spring?

Eltis: Absolutely! With such little inventory and still a large demand for buyers we will be seeing a strong market for a while. Yes, interest rates have risen over the past year which has put a small stall with some buyers, but I truly believe that after the initial shock of six percent plus interest rates the buyers are back because they can refinance later at a lower rate. We also are still seeing plenty of cash offers and such an influx of new residents from other states that now are calling Texas home.

Right-sizing your home. What exactly does this entail?

Carroll: The best thing about “right-sizing” is that it means really whatever you want it to mean to better suit your lifestyle. We have buyers who are moving from much larger homes (more than 8,000 square feet) on larger lots who now want minimal maintenance and only 4,500 square feet. We have clients that are in 2,500 square feet that just need that extra office or multi-use space because more people are working from home. And we have clients that really want an easier lifestyle with a new build home that doesn’t have to be gigantic with wasted square footage.

What are the benefits?

Eltis: A lot of our clients who have multiple homes across the country or globe, love properties like our listing at 9716 Kerrisdale in the gated Preston Hollow Village as they want little maintenance and the safety of a gated community. So when they are away from their Dallas house, they don’t want to worry about exterior upkeep. People are wanting to downsize their lots, but build even larger homes on the land. Another significant benefit is these homes are often built in secure neighborhoods like this particular gated community, so it offers additional peace of mind and they can embrace that “lock and leave” mentality.

Can you share any examples of what is on the market right now?

Carroll: Our listing at 9716 Kerrisdale that just came to the market is a perfect example of right sizing for many buyers. It has great square footage with all of the rooms you need and no wasted space, as well as a smaller lot for very little maintenance. And of course, another benefit is that the community is gated too which adds an extra layer of safety while the homeowner isn’t home or takes the time to travel.

Why is Preston Hollow such a desirable location?

Carroll: Location is always important, and if you look at the map of Dallas you’ll notice that Preston Hollow is the center of everything that goes on here with Frisco/Plano just to the North and Park Cities/Downtown just to the South. It is also located in close proximity to many of the best private schools in town along with two highly rated hospitals with Texas Healthy Presbyterian and Medical City. And lastly, you now have so many top restaurants opening in Preston Hollow to better serve the neighborhood.

Is Dallas still seeing a trend of new residents coming from out of state?

Eltis: We have over a decade of business in the books. So through the years, we’ve had the pleasure of finding clients multiple properties, from their first homes to finding them their forever home. Although in the last two to three years, we have seen a significant uptick from out-of-state buyers, and expect to see that trend remain strong due to Texas being business-friendly and favorable taxes.

9716 Kerrisdale Lane is listed by Blake Eltis & Aaron Carroll for Douglas Elliman. Visit carrolleltisgroup.com to learn more.