Natalia Roush, GRI, ABR, SRS, e-Pro
Inside Austin Real Estate Team
(512) 203-2895 CELL
(512) 233-5398 E-FAX
" . . . your inside connection for Central Texas real estate information."
I live and work in Allandale which is off N Shoal Creek in Area 2. I have seen strong appreciation in the area over the past 5 years. It is a very desirable neighborhood due to location and schools. There is no housing crisis in the Central Austin market. It remains quite stable.
As others have mentioned, without additional information, it is difficult to say if the value for the property you mention is there, but it certainly doesn't surprise me. Also, Kitchen renovations tend to add the most value to a home.
In general, neighborhoods off Shoal Creek are very desirable and therefore a pretty safe investment.
If you would like to discuss this property in detail my information is below.
REALTORÂ®, GRI, e-PRO, GREEN
With articles such as this one always coming out Austin's prices are still going up.
Here is the Article:
In Depth: America's Best Bargain Cities, by Zack O'Malley Greenburg
Thursday, May 14, 2009 provided by Forbes.com
Austin is #1
So you can see why Austin has not been affected too much.
Homes in the Shoal Creek area have been going up about 5% a year or more. The home may have been a fixer upper at that time and would have been worth more had it been redone 5 years ago.
Without knowing the address to do comparables I really can't give you a good answer.
If you dont have an agent and want to talk about it I would love to help.
Have a great week.
Granted home prices have increase in this area. I need more information in order to provide reliable figures. Feel free to contact me, I would happy to provide you assistance. My contact information is available on my web site.