lockmat Posted December 3, 2015 Share Posted December 3, 2015 We have a townhome built in the late 70's in the gentrifying Wirt/Longpoint area that we are renting out. The neighbors are nice and the homes are in pretty good shape, too. Older single-family homes .25 miles away have been torn down and new homes are being built and sold for 800k to 1.5 million dollars and the trend is not stopping. The towhomes a few years ago lost a lot of value in appraisal according to hcad but have now somewhat skyrocketed. Of course, I don't think the towhomes are being sold what they're appraised for, but they have increased. We are debating whether or not to sell it now or wait. My hope is that with all the gentrification going on around that one day the home value will increase significantly or that a developer will buy us all out for a really good price. That's why I want to hold onto it. Plus I'm getting $200/month more than I did the year before. But I'm not sure if my assumptions and hopes are based in fact. I know the townhomes off post oak were bought out this year but that's going to become a very dense area. I don't envision this part of Spring Branch getting denser than townhomes or 4-story apartments, so I don't think the comparison would be fair. So basically my question is, does anyone know of a friend who went through a similar situation? What do you think would happen to townhomes in an area like this? Would the value increase significantly? Would they be redeveloped? Thanks Link to comment Share on other sites More sharing options...
ew2003 Posted December 3, 2015 Share Posted December 3, 2015 Hold on to it. Link to comment Share on other sites More sharing options...
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