They came a long way

Hot Texas real estate market brings in billions from international buyers

Homebuyers from around the globe are flocking to Texas.

Photo courtesy of Kuper Sotheby's International Realty

International homebuyers may have the world at their fingertips, but it's the Lone Star State where many want to invest.

The Texas Association of Realtors' 2019 Texas International Homebuyers Report reveals that 18,310 Texas homes were sold to international buyers between April 2018 and March 2019, totaling $7.8 billion in sales. That accounts for 10 percent of all U.S. homes sold to foreign buyers, trailing only Florida (20 percent) and California (12 percent).

While $7.8 billion is a lot of money, it's the state's lowest haul from this group of buyers in six years, according to the association. From April 2017 to March 2018, international buyers spent $10.89 billion on 24,012 Texas homes. The previous year, they spent a staggering $18.66 billion on 34,135 Texas homes.

Texas isn't alone in the downward trend. Nationwide, the number of international homebuyer purchases dropped 31 from the previous period.

Despite slowing sales, Texas steadily represents 9-12 percent of all U.S. homes sales to this group of buyers each year.

“Texas is seen as a solid state for investments due to our strong economy, business environment, and large metropolitan areas,” says Tray Bates, chairman of Texas Realtors, in a release. “Investors are interested in residential and commercial real estate in Texas where they can deploy their resources to make an attractive return. Specifically, we’re seeing international investors look to Texas for large-scale investments in subdivisions and master planned communities.”

And who's buying in Texas? The report shows 28 percent of buyers from Mexico bought homes in Texas the latest reporting period. The Lone Star State was also a hot spot for buyers from India (13 percent), the U.K. (4 percent), China (3 percent), and Canada (3 percent).

The state also ranks third in homes sold by foreign owners. In the most recent period studied, 8 percent of all U.S. homes sold by international sellers were in Texas.

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Home For Sale

50s Dallas home for sale on swanky Strait Lane still has pink bathroom

Divine Premier Properties

Sweeping driveway at 11211 Strait Ln.

A house on Dallas' Strait Lane that is possibly home to the last '50s-era pink bathroom on the tony thoroughfare is up for sale. The bathroom's days are probably numbered — but maybe in this one case, it's not a bad thing.

It's a single-family home located at 11211 Strait Ln., built in 1953, with 3,425 square feet, 4 bedrooms, and 3 bathrooms.

The property first went on sale on October 18, listed at $1,999,900. Two days later, they increased the price to $2,350,000 — maybe spurred on by the fact that the listing has been viewed 812 times, as of October 25.

The Strait Lane area is one of the richest streets in Dallas, home to the likes of the Perot family and ex-president George Bush. The area is not known for pink bathrooms. The current owners bought the house in 2021 after it sat on the market for a year, and they've tried to sell it four times since. (They also own the empty lot next door.)

It's at the corner of Northaven Road, above Royal Lane and not as ritzy as below Royal Lane where Perot et al lives. But it's still Strait Lane and it sits on 1.02 acres. According to the listing from Divine Premier Properties:

Divine Premier Properties

Sweeping driveway at 11211 Strait Ln.

"Eleven Two Eleven Strait Lane is unique. In 70+ years, it looks like there have only been two owners. The value is in the land. The original house could be renovated but will likely be torn down - time will tell, but it is not really about the house. It is about the swanky address and the location. It is about the potential and the future. And, it is about the endless possibilities. Seize this opportunity - lots on Strait Lane do not come on the market often!!"

The listing doesn't even bother describing the ranch layout, retro shiny brick floor entry, hardwood floors, stacked formal dining room, or enclosed porch with nice stone floor.

No mention either of the awkward updates that seem like they were made a decade ago: the strange gray stucco facade on the fireplace, the kitchen do-over with dark granite countertops. They should've just kept the original '50s stuff.

Two of the three bathrooms have been updated with colored granite: one dark green, the other a salmon brown.

But they did keep one bathroom original and it's pink. However, of all the pink bathrooms in the world, this is not the best. It's a salmon pink, not a bubblegum pink, and it's a mottled tile, the kind with the white swirls, popular in the early '50s in less swanky neighborhoods

It's true to its period, and it's still in perfectly good condition. Even in its mottled state, it's more timeless than whatever else will end up being built in its place. But it's not a pink bathroom that is easy to champion.

So here lies a pink bathroom, less pretty than others, likely to be razed, RIP.

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