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Old 10-01-2009, 06:09 PM
 
Location: Southern California
3,455 posts, read 8,355,139 times
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Any thoughts on the wisdom of this? Any thoughts on condos or downtown living in San Antonio?

Where do you see this area going in the future? better or worse? Will Texans ever want to live downtown or will it always be a niche market?
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Old 10-01-2009, 06:41 PM
 
Location: SoCal-So Proud!
4,263 posts, read 10,836,235 times
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Quote:
Originally Posted by rgb123 View Post
Any thoughts on the wisdom of this? Any thoughts on condos or downtown living in San Antonio?

Where do you see this area going in the future? better or worse? Will Texans ever want to live downtown or will it always be a niche market?
Bad short term investment...possibly decent long term (I mean really long term). Will you be living there?
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Old 10-01-2009, 06:44 PM
 
Location: Southern California
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yes, but I don't know for how long....and they are rent-able
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Old 10-01-2009, 06:47 PM
 
Location: SoCal-So Proud!
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I wouldn't do it...but it sounds like you're about to talk yourself into it. I only buy single family detached homes.
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Old 10-01-2009, 06:48 PM
 
Location: Southern California
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well, why? the bad investment part?
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Old 10-01-2009, 06:52 PM
 
Location: SoCal-So Proud!
4,263 posts, read 10,836,235 times
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Quote:
Originally Posted by rgb123 View Post
well, why? the bad investment part?
That's why I asked if you were going to live there. If you're buying purely for investment you can make better money elsewhere with less headaches.
If you're going to live there long term...that changes the picture. You would be using it as your residence..and it's hard to pin a value on that.
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Old 10-01-2009, 07:10 PM
 
Location: Southern California
3,455 posts, read 8,355,139 times
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I agree. It is hard to pin a value on that. I think condo's are easier to rent though, if you have to leave for a different job or something.

do you see condo's going down in value in the dowtown area?
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Old 10-01-2009, 07:15 PM
 
Location: SoCal-So Proud!
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Condos and townhouses are usually the first things to lose value in a down market as well.
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Old 10-01-2009, 08:15 PM
 
779 posts, read 1,662,983 times
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prices are just ridiculous right now. you can buy a trendy 700-800 square ft loft for $160,000.....for that same amount you can get a 1300 sq ft newly built home in a decent part of town.
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Old 10-01-2009, 08:37 PM
 
Location: Austin, TX via San Antonio, TX
9,854 posts, read 13,733,117 times
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The last time I looked to purchase something like that (I mean very briefly) I was shocked. You can purchase a brand spanking new 2,500-3,000 square foot house outside 410 for the same price as a new condo/townhouse. The demand for the latter is higher of course (just demographics of the city and needs..you know?).

Long term, as mentioned before, people may eventually move downtown/southtown and want to purchase a condo/town house in the area, but it's a serious lifestyle that San Antonians are not accustom to. We're slowly, and I mean, very slwoly moving back in to town. Of course you'll find people who live and die by the downtown lifestyle, but it's a small percentage of the city. But, take a look. It's not that bad as some people make it out to be. I'd do it if I had the money (and job security to do it!).
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