Dallas, Near "Rock Bottom," at the Top

Dallas, Near "Rock Bottom," at the Top

The DFW's tops in Business 2.0 and Moody's Economy.com's books, as one of 10 cities "that have just about hit rock bottom -- and offer opportunities for savvy investors to get in while the getting's good." The online edition is slightly different from the print version; as such you don't get this tip from a local realtor:

Mary Frances Burleson, CEO of Ebby Halliday Realtors, Dallas's largest brokerage, advises buying into gated subdivisions. But she would also target older properties in more urban areas like Lakewood, a neighborhood east of downtown Dallas, as well as the nearby suburb of Richardson. "If I'd won the lottery last Friday, I'd be buying houses on 150-by-100-foot treed lots for $200,000 to $250,000," Burleson says. "Then I'd tear down the houses and build 3,500-square-foot luxury homes with swimming pools. They'd triple in value."

Because that's just what Lakewood needs. --Robert Wilonsky

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