feaguru

And if you think that makes up for it, you are mistaken. I have taken that into account. Some people think like this...but a huge sum is going to unrecoverable taxes. Do you the math and you will find it doesnt look so hot.

You are in effect getting an interest rate that is about 2% higher than many other parts of the country. So what if you get to deduct a third of that, the other 2/3 goes down the toilet!

Yeah, so in the meantime you get to pay even HIGHER on your taxes for speculation and something that doesnt exist...great deal! And since all of the speculation has alread adjusted the prices to high levels, dont expect them to move very quickly IF the TRV happens. And if for some reason (economic downturn, etc) the TRV doesnt happen...uh oh.

No deals to be had from where I am sitting, and isnt that really the name of the game when it comes to making money? And for now...it is STILL Fort Worth.

Trust me, I have been trying to convince myself to buy (I had no intention to continue to rent)...but the more I see, the less I see downtown FW as a good buying option. (maybe the bank 1 and tower might be exceptions). Time will tell, but I am keeping my money in the market.

The way I see it:

-Tax rates are very high compared to the rest of the country
-Downtown/urban living is overpriced (they are priced with the assumption everything is going to turn out the way they think it will).
-Unlike other markets where you may get full price buy owner, I think you are likely going to need a realtor (6% down the drain). i.e. in Tampa, new constructions sell out fast where they are very slow to sell here.

With these key factors in mind, I am very skeptical about any purchase being an "investment". Unless the market booms (which I think has already happened), you will be eating it.

Plus that and the fact that nothing I have seen makes me feel like I REALLY want it...there is much to be desired from my vantage point.

Thats all...I think I try to look for some nice luxury apartments (any good ideas???) But will be keeping my eyes open for when things turn to more of a buyers market where my money can be working harder than it would right now.

I have to 04 figures written down at work, but I think 2.5 is in the ball park.

Sure makes renting look good. Your property values really have to move to make up for such a relatively high rate.

FYI, I called today and cultural district is 3.1! On a 300k place, thats over 9k/year in taxes alone...I think the renters make out good while the homeowners get the shaft.

feaguru,

You may want to touch base with the sales people of the Tower, even though all units within your budget are sold, some residents have more than one unit.

No can do...on the original post I mentioned I have vertigo and the elevetors quickly make me sick. Its quite unfortunate as the bank 1 condos or tower would fit me nicely.

Dude, we gotta talk. I know of a very nice place to move into. And it will not trigger your fear of heights.

Cool...I dont really have a fear though, I just get woozy. Reach me via - briananderson2005 on yahoo. But I dont want no crappy place, haha