(Photos courtesy of Shoot2sell)

Historic Hollywood Santa Monica may soon have its first million dollar home sale. Despite Trulia research that says the Dallas home market is cooling off, East Dallas’ real estate market is still strong. Neighbors have seen prices skyrocket in recent years. If you own your home, that is great news for when you are ready to sell, but property taxes can also put stress on long time residents as values and tax rates increase.

Two years ago, we wrote about $1 million dollar homes in the area. We found that 60 were sold in the year prior in zip codes 75206, 75214 and 75218. We may need to add 75223 to that list if it sells for the asking price or above. The home at 6823 Santa Fe Ave. in Hollywood Santa Monica is listed at $1.05 million.

The neighborhood was developed in the 1920s and is full of Tudor cottages, Spanish and French eclectic and craftsman style homes. In 1989, the area became a conservation district to protect architecture styles, density, home heights and setbacks. A streetcar used to run the length of Santa Fe and turn around at Lindsley Park. The first Minyard’s grocery store was in the area as well.

The home is unassuming from the street, but the four-bedroom, three-bathroom house is much larger than most homes in the area at over 3,500 square feet. It isn’t close to the most expensive home per square foot, which can top $330 in the area. This home is under $300 per square foot.

The longtime owners, Laurie and Mike Murray, had been renting out the home before the addition, but Laurie, who is an architect was looking for a home to remodel. The timing worked out to redo her own property with her friend Anne Noble, who is also an architect. Though adhering to the rules of the conservation district added a bit of construction time, it is now ready for new owners.

The 1936 Tudor was gutted and redone, with a significant addition added to the split-level property. Backing up to the Santa Fe Trail with a balcony to overlook the golf course at Lakewood Country Club, this home offers a lot for a family in East Dallas.

Our real estate contacts tell us that this would be the first home in Hollywood Santa Monica sold for over $1 million, but as prices creep up and homes become larger, it probably won’t be the last. Check out more of the house below.

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