Jesse,
In my opinion, the best area for a relatively short time period like 2 years would be Area 6 or the 78704 zip code. It is getting harder to find homes in need of remodel at good prices, but they are still out there. The area has many things going for it including it's close proximity to downtown, Zilker Park, South Congress shops and restaurants and Lady Bird Lake. It is also much less congested than many other areas of Austin. My next choice would would Area 9 or the 78741 zip code. In that area stay close as close to Lady Bird Lake as possible. That is where much of the new development is occurring. If you would like any listings in these areas please let me know. (512) 944-5977.

Thu May 8 2008, 11:11

Dear Jesse,
There are several neighborhoods that see a lot of action from investors 'flipping' homes. Take a look at the following areas: 10N, 10S, 9, 4, 6, 7,1B, 8W. These areas are fairly close in and have continously gone up in value. If history is an indicator they should continue to escalate. Contact me if you want more information or if you wish to see some homes in these areas.
Good luck!
Betina

Sat Apr 26 2008, 09:29

A few more areas you might want to consider are the area around the new Domain shopping center (Mopac and Duval) and Southeast Austin. The Domain is slated to grow and expand tremendously over the next 5 years, and the residential areas surrounding it are appreciating. I've also seen quite a bit of remodeling in that area. Southeast Austin is an area of town that has experience very high appreciation rates over the past few years. This is partly because the airport moved to the edge of that quadrant, and partly because of the proximity to downtown Austin and hip neighborhoods like SoCo.

The nice thing about Austin is that there is plenty of opportunity for profitable remodeling. It's a little harder to decide on the best neighborhood and find the perfect (and perfectly priced) property.

Wed Apr 23 2008, 18:37

I agree w/ Julie Nelson's advice below.

In addition drive areas and see what you like and what makes sense to you.

If you are not interested in using a Realtor, look at properties for sale on Craigslist, AAS Classifieds and austinhomesearch.com . You can get a pretty good feel for the market if you study the market over time.

Wed Apr 23 2008, 12:42

Jesse - congratulations on your decision to move to Austin! It is a wonderful place and has a very strong real estate market. Depending on what you are wanting to do and how much you are wanting to spend - there are a number of areas that have strong potential. The "flipping" opportunities are more limited now than in the past, but are still out there. You need to work with someone that is clearly in tune with the market and that can identify undervalued properties. Not every property will be an option as the market has moved up. Areas in South and East Austin are still good candidates for fix & flip. Again, buy it at the right price!

Wed Apr 23 2008, 07:47

You might want to work with a seasoned real estate agent, request for them to show the past 2 years for sales in that area in MLS, it can assist in some instances on you making a decision on the area. I am assured there could be some foreclosures in the area which are below market value

Tue Apr 22 2008, 18:54

If you're in the under $250k range ... considering appreciation, current activity, projected activity, proximity to downtown, current pricing, I would seriously consider south Austin (areas 10N and 10S), east Austin (area 5), and near and around the Mueller development (also area 3). Of course depends on your price range and preferred neighborhood profile.

Tue Apr 22 2008, 16:11

You may want to look at the For sale by owners in the Austin area. Search MLS and Austin FSBOs at one site.

Austinhouse.net

Tue Apr 22 2008, 15:34