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Trouble at the Tower?


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#1 mschrief

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Posted 01 April 2010 - 08:40 PM

Doing a little bit of research into condos at the Tower. There are so many units for sale. Can any current residents fill me in on what is going on there?

Trouble at the tower?

Also, what are dues for a 1/1?

#2 Brian Luenser

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Posted 01 April 2010 - 09:54 PM

QUOTE (mschrief @ Apr 1 2010, 09:40 PM) <{POST_SNAPBACK}>
Doing a little bit of research into condos at the Tower. There are so many units for sale. Can any current residents fill me in on what is going on there?

Trouble at the tower?

Also, what are dues for a 1/1?



No trouble at The Tower.

I am not looking at the most recent numbers but do not think there has been any shift in sales or listings. We do an analysis for our annual meetings and one was done in late January and found pretty much no difference in units for sale/lease than in previous years. In fact, I think The Tower may have the best real estate stats in the City. I believe we have had only 4 foreclosures in our 5 years. With 292 units. Not a neighborhood in Fort Worth with a ratio that favorable. (I am speculating)

Listing prices are somewhat lower than their peak. Pretty understandable for the type of property it is. A large number of units where never purchased for primary residences. Many ranchers for example have units here. When times get tight, a second or third home starts looking pretty expendable. As I think prices have stabilized I am looking for great units for sale. As posted in The Tower thread http://www.fortworth...m...ic=3655&hl= I recently purchased a second unit. I search the listing daily for other great deals.

The Tower has 3 different 1 bedroom floor plans. The dues range from around $400 to around $550 depending on its size. And as I usually state, the dues are really a bargain in the long run when you compare the costs to living here with a home. (Way cheap utilities, insurance, maintenance, yard cost, security etc...) My TOTAL utilities average around 80 bucks a month and include Electricity, Natural Gas, Water and Trash. About what I was spending at my little house as a bachelor in 1979. I also save a lot of money in transportation costs as you can walk to pretty much anything and also get on a bus or train. Many here walk to work. My wife did for several years until her work moved.

BTW, I am in the water filter business, not real estate. As all the condos in the Tower except a few penthouses units sold out immediately in 2004, there is no sales or management company promoting their sales. (Just individuals or Realtors.)
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#3 David Love

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Posted 02 April 2010 - 06:22 AM

With the Super Bowl countdown now in the 300 day range, the TRE will be ferrying attendees right to the stadium, depending on how fast you walk, you'd have an 8 to 10 minute walk to the Super Bowl. Not sure where the train station will be located at the stadium, may depend on which rail lines they've commandeered, I'd guess the majority of those parking will have a longer walk.

Trivia tidbit: In Super Bowl cities, year over year, every hotel, motel, apartment, empty house, spare bedroom is at full occupancy within a 110 mile radius.

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#4 mmiller2002

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Posted 05 April 2010 - 11:28 AM

If I may ask, what do you do with multiple units in the same building? Just curious since I've never been the building since it was rebuilt.

QUOTE (Brian Luenser @ Apr 1 2010, 10:54 PM) <{POST_SNAPBACK}>
QUOTE (mschrief @ Apr 1 2010, 09:40 PM) <{POST_SNAPBACK}>
Doing a little bit of research into condos at the Tower. There are so many units for sale. Can any current residents fill me in on what is going on there?

Trouble at the tower?

Also, what are dues for a 1/1?



No trouble at The Tower.

I am not looking at the most recent numbers but do not think there has been any shift in sales or listings. We do an analysis for our annual meetings and one was done in late January and found pretty much no difference in units for sale/lease than in previous years. In fact, I think The Tower may have the best real estate stats in the City. I believe we have had only 4 foreclosures in our 5 years. With 292 units. Not a neighborhood in Fort Worth with a ratio that favorable. (I am speculating)

Listing prices are somewhat lower than their peak. Pretty understandable for the type of property it is. A large number of units where never purchased for primary residences. Many ranchers for example have units here. When times get tight, a second or third home starts looking pretty expendable. As I think prices have stabilized I am looking for great units for sale. As posted in The Tower thread http://www.fortworth...m...ic=3655&hl= I recently purchased a second unit. I search the listing daily for other great deals.

The Tower has 3 different 1 bedroom floor plans. The dues range from around $400 to around $550 depending on its size. And as I usually state, the dues are really a bargain in the long run when you compare the costs to living here with a home. (Way cheap utilities, insurance, maintenance, yard cost, security etc...) My TOTAL utilities average around 80 bucks a month and include Electricity, Natural Gas, Water and Trash. About what I was spending at my little house as a bachelor in 1979. I also save a lot of money in transportation costs as you can walk to pretty much anything and also get on a bus or train. Many here walk to work. My wife did for several years until her work moved.

BTW, I am in the water filter business, not real estate. As all the condos in the Tower except a few penthouses units sold out immediately in 2004, there is no sales or management company promoting their sales. (Just individuals or Realtors.)






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