A couple of years ago, a clever gentleman coined the phrase Midway Hollow to describe a small pocket area of homes just West of Preston Hollow in Dallas, Texas.   The coordinates run basically from Walnut Hill to Northwest Highway from North to South and from Midway to Marsh from East to West.  While driving through these streets like Mixon, Valley Ridge, or Lenel Place, the charm of these homes built in the 1950′s and 1960′s on generous lots can be magnetizing. 

To give you some more recent history over the last decade, this neighborhood was engulfed by investors who came in and snatched up properties right and left before the bust that we experienced in 2008.    Why should this area be on the top of a younger professional’s buy list who works pretty much anywhere in Dallas?   The answer goes back to a simple conclusion:  location.  This neighborhood is very much in transition right now.  Just ask any agent who has had the adventure of doing a Comparative Market Analysis of a home in the neighborhood.  It will take them at least twice as long as it would in a typical suburb like Plano or Frisco.   What is the biggest strength of this area?  It’s the price tag.  As the average home here was selling in the mid range 200′s at the end of 2007 and begining of 2008, a buyer now can purchase that same home for anywhere from 180k to 220k.   Midway Hollow is similar in fashion to areas like Lakewood or Lake Highlands in that it is made up of a collection of cottage style homes mixed in with new beautifully constructed luxury homes.  The upward trend in pricing should continue as the economy decides where it is headed again which makes it a good time to purchase as we take a breather.

This is an area that has a great deal to offer for couples just starting out as well as young professionals who can’t afford to live in similar areas like Lake Highlands, Greenland Hills, or Lakewood.   If you have some time, go spend a day driving the neighborhood.  During lunch time you can skip on over to Houston’s or California Pizza Kitchen at Preston and Northwest Highway just a couple of miles away. 

Here is an example of a home that is listed for sale right now in the “Hollow” that is priced below $200,000 on an oversized interior corner lot.  This is a 3 bedroom/2 bath with typical investor upgrades like granite counter tops, tumbled marble blacksplash, crown molding as well as hand scraped hardwoods.  At 1,465 sqaure feet, this home is currenlty being offered for $185,000.

Ryan Kirkpatrick