Home Buying in Austin>Question Details

xxxxyajxxx, Home Buyer in Austin, TX

I am planing to buy condo near UT Austin west Campus. what is the right price per square foot . Please let me.Thanks.

Asked by xxxxyajxxx, Austin, TX Wed Feb 6, 2013

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x’s answer
I agree that the general answer is minimum of $200/sf, and that it varies a lot depending on updating. I'm with Juice Homes in Hyde Park, we do a lot of business in the West/UT Campus area. If you have time, please stop by our Homebuyer Q & A Session on Feb. 13th at 6pm. It is a fun way to learn as you'll hear what others are asking and of course you'll be able to ask any questions of your own - no obligation whatsoever - it's a learning forum not a sales pitch!

I'll have a loan officer from University Federal Credit Union available to answer financing questions too - really important info for condo-buying. Q & A is at Juice Homes Office at 508 E. 53rd St. #103 (53rd and Duval) on Wednesday at 6pm - hope to see you.
Web Reference: http://www.jaynesaustin.com
0 votes Thank Flag Link Thu Feb 7, 2013
When you want to buy a home the best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home without getting ripped off. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.helpubuyamerica.com
0 votes Thank Flag Link Tue Feb 18, 2014
Hi,

I agree with Jane Garmaty, or you can ask help and inquire http://walktocampus.com/ , they are happy and willing to serve you.
0 votes Thank Flag Link Tue Feb 18, 2014
As mentioned, each complex is different. in the mid 200's per sq. ft is a very general answer. I would be happy to analyze any property or complex for you.(including past sales, rental rates, etc.) Also, my home page offers a quick link for all properties near the University of Texas.

Please feel free to contact me anytime.

Thanks,

Steve Nusinow
(512)922-7588
0 votes Thank Flag Link Wed Feb 6, 2013
It is true that every complex and individual unit is different and the University of Texas is an extremely unique market. In addition to age of the complex, there are dramatic differences in prices based on proximity to campus, and the size of the unit. The same exact unit located on 26th and San Antonio vs 24th and Leon can fluctuate in price by as much as $30 a foot. Number of bedrooms and size (Sq. Feet) of the unit will also contribute to fluctuations. Large 1 bedrooms sell for far less per foot than a small 2 bedroom

For newer construction, properties like, Texan Tower, Caswell Lofts and The Galileo, you are seeing prices from $260 to $330 a foot. For Mid range properties Built in late 70's like Orange Tree condominiums to the mid 90's like the Centennial Condominiums 1 bedrooms range from $205 to as high as $260 a foot, 2 bedrooms range from $195 to $245 a foot.

Depending on what you are looking to do, there are a lot of different ways to determine value, if you are an investor, which I assume you are, the best approach is a capitalization rate or straight cash on cash return. If you are buying for a son or daughter and planning on renting rooms to friends you can also run a cash on cash return approach. Either way, current rents will be a solid factor in determining value.

If you would like to discuss this more and work with a broker that has 7+ years of direct experience in this market, I would be happy to help you out.

Steve Johnson
Realty Pros of Austin\
512-940-9634
0 votes Thank Flag Link Wed Feb 6, 2013
Each condo complex is different and therefore no one price can be determined that fits all. Wrking with a local realtor is the best way to safegaurd against over paying. Buyers can have professional representation from a realtor at no cost to you. Free is a pretty good price!
Bill
0 votes Thank Flag Link Wed Feb 6, 2013
It really depends on the age, condition, and finish out of the condo, but you can expect to pay somewhere around $200-$225 per square foot average. I do have a new listing that is not yet on the market that might be just what you are looking for. Feel free to contact me and I will be happy to go over the details.

Joe Jarusinsky, Realtor/Master Instructor, Keller Williams Realty, Austin's #1 Real Estate Company, Ranked #1 by Buyers and Sellers (JD Power & Assoc. 2012) Call 512-261-4415
0 votes Thank Flag Link Wed Feb 6, 2013
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