Fort Worth has been the fastest growing city in the United States for 3 years now and it continues to grow. There is now over 700,000 people and land prices continue to rise, making an ever increasing condo market. The condo market is growing at a steady rate with over 10 new condos in the last 5 years. The Fort Worth Business press stated in 2006 "Fort Worth is bucking the trend". The condo market is currently expanding with a new Omni hotel coming to town. The Omni will stand adjacent to the Fort Worth Convention center and provide food, entertainment, hotel rooms, and condos. The Hotel itself has been designed by HOK, a Dallas-based global architectural firm that specializes in designing buildings in communities. Very proud of the design, the smallest 1 bedroom 1 bath is listed at 406,900. Concerns from the locals are rising as the stock market continues to plunge and many downtown condos remain vacant. LeBijou , the Neil P, Montgomery Plaza and the Towers are still having troubles selling their condos. It is extremely hard to get approved for these condos; but stand assured with the values of land increasing. Experts believe that the condo market will recover and more condos will be built. Bill King, a local real estate broker, tells me he has heard of a W hotel coming to Fort Worth. Sales of Fort Worth condos are still at a high. So don’t let this opportunity escape because experts still believe it is a good investment.
http://www.omnihotels.com/FindAHotel/FortWorth.aspx
http://www.1301throckmorton.com/property.html
http://www.fortworth-texas-real-estate.com/Omni-Residences.php
http://www.newcondosonline.com/texas-condos/fort-worth-new-condos/
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1 comment:
Although this is a short post, you should use multiple paragraph format.
What is your source on the following?
'Fort Worth has been the fastest growing city in the United States for 3 years now and it continues to grow.'
Are there 10 new condos or 10 new condominium projects started in the last 5 years. 10 new condos would be a very slow and steady pace.
In the following two sentences, what trend is Fort Worth bucking? Sounds like they are bucking the condo growth trend. Is this correct?
'The condo market is growing at a steady rate with over 10 new condos in the last 5 years. The Fort Worth Business press stated in 2006 "Fort Worth is bucking the trend".'
The overall thesis of this paper is not clear. We seem to start out making a case for a strong Fort Worth condo market. In the middle we discuss the difficulty with the condo market and the end makes a case for condo investment. Also, I am not sure if we are focused on land prices or condominium prices?
The thesis seems to be that the Fort Worth condominium (land?) market has been a good market in the past, but has come down recently and it is therefore a good market to invest.
Some interesting bits here but the story is not clear. A positive is that the author did seem to use several different sources.
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