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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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