Tower/76102 Sales in Pasts Six Months vs Listed Price/sf

Tower Sales in Past Six Months

vs.

Listed Prices per Square Foot

August 27, 2008

 

Active Listings:

Unit B 1179 sf:  8 active listings at average price/sf $304.16 – number of days on market range from 2 to 543 days with an average of 289 listed so far

 

Unit F 1556 sf:  5 active listings at average price/sf $318.81 – number of days on market range from 74 to 539 days with an average of 281 listed so far

 

All Active Tower Listings: average price/sf $294.49 with 35 properties listed, with number of days on market ranging from 2 to 596 days, with an average of 244 before selling.

Under Active Option Period: 1 property listed at $242.19/sf

Pending Sale: 3 properties listed at an average price/sf $286.45

 

 

Sold in past 6 months:

10 Tower properties: all 1179 sf or smaller, at $234.49/sf average, with number of days on market ranging from 6 to 242 days, with an average of 91 days

 

All properties sold in 76102: 28 properties sold which range in size from 637 sf to 2305 sf, at $202.36/sf average, with number of days on market ranging from 6 to 648 days, with an average of 140 days on market before selling

 

This information suggests that properties in the Tower which are listed for no more than 5% of market value ($234.49/sf + 5% = $246.22/sf) are more likely to be successful, which in turn suggests that units priced above that point are not likely to sell soon. Presently, there is one property listed just under the market value, and four others which are within the range of 5% above market. The other 30 properties are not considered within buying range for most buyers who consider buying here, especially when the average price per sf in 76102 is $202.36.

 

It will be interesting in the next six to twelve months to watch as new properties come into the arena.  Contact me for individualized information!

The Vault re-visited…

We finally made it into the Vault last night to see (and taste) for ourselves. If you like a quiet atmosphere, stay upstairs in the dining room. If you are the life of the party (or just like to be around the one who is) the downstairs area may be more your style. Each floor has its own fireplace (okay, so what if we won’t get to use it until next February?)… and these are the only real fireplaces we have seen in the downtown area. When it was cold last winter we kept looking for a place to go warm up with a brandy in the evening, but we were disappointed in other restaurants/bars that what appeared to be a fireplace was all for show (no flue, no warmth).

The downstairs just screams “take me to the kasbah!” There are cool nooks and crannies to hold intimate conversations where you can hardly be seen, but there is also flatscreen tv for those inclined to stay glued to a screen. The food proved to be traditionally Mediterranean —- we were very happy to see a wide range of fish on the menu with few high-carb offerings —- which means we can go there after vacation and remain on a much-needed diet after living (and eating out in) downtown for the past couple of years! The tidbits we sampled had a burst of flavor worthy of making the mouth water just hoping for more — lamb with a honey-saffron coating, bruschetta and small but spicy potato pieces (that I couldn’t pronounce the name of much less spell). The menus are varied — lunch, tapas and dinner-sized plates — with plenty to please the palate whether you want a small or large meal, even including burgers for the kids and a steak for the meat-and-potatoes types. We can’t wait to get back from vacation and go downstairs for the actual Grand Opening!
http://www.PrudentialTexas.com/MarieFerguson

Security in the building…

When the Tower first opened, a friend asked me about the security in the building because he was working on plans to write a novel set in downtown Fort Worth and he wanted to have reliable information on how things operated here for the plot. I had explained that we have 24-hour concierge service and other amenities, with quasi-New York City style greeters at a desk (they don’t open the door for us like the doorman does …. yet anyway) and electronic key fobs that are required to unlock the doors to the building. You can’t get around easily anymore without one of those fobs to allow access — not just to outside doors, but to a different floor on the elevator. (This has caused a few moments of concern for many who have dropped their keys down the elevator shaft and couldn’t get to their floor and couldn’t get in their condos once they found someone to scan them up to their floor.) In the midst of telling my friend about the security in the building, I began to feel concerned that if he put too much information into the book it might urge a security breach by local ‘bad men’.

As time went on, I realized that it is only through elementary error that we have had any problems of this sort. All the common areas going from the elevator to the condo doors look exactly alike by design, as we are prevented in our condo agreements to place anything outside the door (like a doormat, maybe?), so it has happened on more than one occasion that a misguided resident would get off on the wrong floor, go to his door, find it unlocked, open it and then realize, ‘OMG this is not my condo!!!’ So far nothing detrimental has come from this, but I try to remember to keep the door locked, not because it is unsafe, but because there might be a surprise visitor otherwise! http://www.PrudentialTexas.com/MarieFerguson

When the bad weather comes…

People always ask us…. when there is a really bad storm, can you feel the building move? What do you do when there is a bad storm? Admitedly, you have a little different perspective toward storms when 1.) you live on the 18th floor (or 28th!) and 2.) your building has been hit by a tornado before!

When we have ‘heavy weather’ issues (one of those that really makes David Finfrock cough!) we have an announcement which tells us to evacuate to the levels below the street. One night last spring, my husband was in the shower when the alert came to evaculate to the sub-basement level. We and our out-of-town guests were preparing to go out to dinner (as always — duh!) so hubby put on his robe, we grabbed the cat and all headed underground, just in case. Before they released us to go back to our condos, my cat and the dog next door were nose-to-nose, people from another floor sipped their wine (which they had the forethought to bring with them) and hubby took a lot of flack for being in his robe, still wet behind the ears from the shower. Soon, the storm over, we all went to dinner. Visit my website!