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Bush buys home in Dallas neighborhood

From NBC's Abby Livingston and John Yang
President George W. Bush and First Lady Laura Bush will be moving back to Texas after the president's term ends, and they have purchased a home in the upscale Dallas neighborhood of Preston Hollow, the first couple tells NBC News in an interview to air tonight.
 
The home is valued at just over $2 million, according to county property records and reporting by the Dallas Morning News. It is within Dallas city limits and is located in close proximity to Southern Methodist University, the future site of Bush 43's presidential library. 
 

Video: President and Laura Bush speak candidly about their years spent living in the White House and their plans for returning to private life. NBC's John Yang reports.

Preston Hollow is the same neighborhood where they lived prior to Bush's election as Texas governor in 1994.
 
Within blocks of the neighborhood live other notable Dallas-ites, including the Dallas Mavericks' legally embattled owner Mark Cuban, Senator Kay Bailey Hutchison, former presidential candidate Ross Perot, and Tom Hicks, a businessman who has Bush's old job-Texas Rangers' owner. 
  
Elizabeth Taylor, a Dallas realtor, describes the neighborhood as, "a very upscale, older neighborhood. Many older homes are being torn down and big new ones, mega mansions, are being put up in their place."