In a report that was just released via MSN's Real Estate portal, Austin ranked #10 on the list of "66 Cities Where Buying Makes Sense". Not surprisingly, Houston, Dallas, San Antonio, and McAllen, Texas also made the top ten!
The study was conducted to determine whether it is a better financial move today to rent a two-bedroom apartment or to purchase a low-priced home. According to the published estimates, if you purchase an affordable home in the Austin-Round Rock area, you will have substantial equity in four years' time.
The article alludes to the fact that home ownership is typically not a short-term proposition, which is something I have taught my clients for 12 years now. Flipping homes was never really very prevalent here in Austin, partially because prices didn't increase at precipitous levels. Consequently, we have weathered much of the worst economic times relatively unscathed.
In the top 24 markets analyzed (including Austin), home values are expected to outpace a 6% mortgage loan very easily. They estimated that a low-priced home in this area would provide just over $70,000 in equity by 2012 with a loan at that rate.
To see the entire article and list of cities, visit: http://realestate.msn.com/Buying/Article2.aspx?cp-documentid=8378117.
If you are considering purchasing a home in Austin (or anywhere in the general central Texas area), please feel free to give me a call. I would love the opportunity to help you find the right home. You can visit my primary Austin Texas real estate website at www.austintexashomes.com. You can also reach me anytime on my cell phone at 512-796-7653 or via email at jason@austintexashomes.com. Thanks for checking out this brief analysis!
If you enjoyed this post, why not connect with me elsewhere or subscribe via email?
If you're looking for a home in the Austin area, you can also visit my primary Austin real estate website at www.austintexashomes.com. If you're interested in social media training, visit 210 Consulting. Thanks!
Great news for buyers in Austin and other Texas cities Jason.
Jason
Good link to useful and thought provoking stats that lots of agents should take advasntage of .
Jason
Good link to useful and thought provoking stats that lots of agents should take advasntage of .
Jason, thanks for sharing this information. I'm going to check out the link you provided. C. :-)
Well, let's hope Mansfield hangs up there on par with Dallas so my daughter makes a little on her house! Thanks, Jason.
Hi Jason - Congratulations on the news that Austin Makes #10 on New List - "Cities Where Buying Makes Sense". What a great time to be a buyer in Austin right now.
Interesting article. Thanks Jason. I guess i am not surprised that Miami did not make the list, however, the values are very low there right now.
This should be good news for investors too.
That's good news for people in that area...thanks for the info.
so that is your downtown? Very pretty! I love the blue lights outlining the building.
I hope this plays through to the real world Jason. I think money could get very tight for the forseeable future and that will have a direct effect on housing - including pricing.
Jason,
Thanks for the post. Between you and Brain Brady, I could be Texas bound!
Hi Jason... interesting article and good news for Dallas too! Building equity is a topic I get asked about often. Thanks for sharing this.
Jason, with all the kudos that Austin has been getting on every other Top 10 list I see, I imagine your population and your business must be exploding.
Thanks for the link. Very interesting. Glad to see Charlotte made the list.