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Old 02-18-2020, 01:50 PM
 
Location: Grapevine, Texas
10,112 posts, read 21,341,282 times
Reputation: 7669

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I'm not a real estate professional, so this is out of my lane. But I think it would be safe to say that the value of a house in an area with good schools increases at a faster rate than a house in an area with bad schools.

The long and short of it is that the OP will be taking a big risk to buy this house, from both a personal/property safety and financial perspectives.
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Old 02-18-2020, 03:31 PM
 
3,556 posts, read 2,074,381 times
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Quote:
Originally Posted by ChristieP View Post
I'm not a real estate professional, so this is out of my lane. But I think it would be safe to say that the value of a house in an area with good schools increases at a faster rate than a house in an area with bad schools.
I think a lot of people take this as a truism, but I'm genuinely not sure it is true. Of course, if the schools in a certain area get better over time, that should lead to better appreciation. But if the schools don't change, we already know what they are, and that should be priced in to the house today. The market should already be accounting for the bad schools, so the school issue shouldn't be driving the price changes over time.


Quote:
Originally Posted by ChristieP View Post
The long and short of it is that the OP will be taking a big risk to buy this house, from both a personal/property safety and financial perspectives.
I agree that it's not the best, and if the budget is $200k, I think there are better options. Here are a few I would consider:

3/2 in TCU area for $200k: https://www.realtor.com/realestatean...2-30049#photo0

3/1 in Westcliff (currently pending) for $209k: https://www.realtor.com/realestatean...9_M86713-60926
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Old 02-18-2020, 08:17 PM
 
Location: Grapevine, Texas
10,112 posts, read 21,341,282 times
Reputation: 7669
Quote:
Originally Posted by Wittgenstein's Ghost View Post
.
I agree that it's not the best, and if the budget is $200k, I think there are better options. Here are a few I would consider:

3/2 in TCU area for $200k: https://www.realtor.com/realestatean...2-30049#photo0

3/1 in Westcliff (currently pending) for $209k: https://www.realtor.com/realestatean...9_M86713-60926
I totally agree that the TCU one is much, much better than the one on Main. Perhaps the OP is falling for the “new construction” trap. Personally, I would much rather have a less fancy house in a great neighborhood than a brand new house in the ‘hood.
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Old 02-19-2020, 05:24 PM
 
Location: Fort Worth, TX
1,759 posts, read 1,010,963 times
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Some neighborhoods near TCU are good and safe and some are unsafe or full of rental homes that cater to TCU students. Check out the neighborhood carefully.
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Old 02-20-2020, 05:21 AM
 
1,049 posts, read 1,339,423 times
Reputation: 1319
Quote:
Originally Posted by tcualum View Post
Some neighborhoods near TCU are good and safe and some are unsafe or full of rental homes that cater to TCU students. Check out the neighborhood carefully.
This.

And it is block by block, house by house. There are pockets of all rentals and others where there are very few. Best advice would be to talk to neighbors to get the lay of the land.

S. Main between Rosedale and I30 has seen an incredible transformation in the past 6-7 years. There are now tons of great local and artisanal restaurants, breweries, brew pubs, and cafes in the area. But the location of the house you listed, OP, is quite a bit further south and is still a bit rough around the edges. I could imagine the area being lifted up by the resources that are being put in nearby, but it might take awhile for it to get there.
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Old 02-20-2020, 08:40 AM
 
Location: Fort Worth, TX
1,759 posts, read 1,010,963 times
Reputation: 2515
I have friends who were early adopters in neighborhoods such as Fairmont who are now reaping the benefits of the turnaround. There are still neighborhoods in Fort Worth that are poised to turn around. They have character homes with good bones that have been neglected. It's a risky maneuver though. You have to bet on the right home in the right neighborhood and be willing to stick it out. You also have to be handy enough to be able to do a lot of the work themselves. I have friends who bought in Fairmont when it was still scary there. They bought a home that was unlivable for a song and fixed it up themselves. If they chose to sell it now they'd make a big profit, even after accounting for the money they used to fix it up.
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