Market Conditions in Austin>Question Details

Cosmojade, Home Buyer in Austin, TX

N. Shoal Creek Property Value

Asked by Cosmojade, Austin, TX Tue May 19, 2009

We are interested in a home in N. Shoal Creek. The home was bought five years ago for $177k and is now selling at a 65% increase. Granted that there were renovation done in the kitchen and the roof, has the property value in the neighborhood really increased by this much, especially given the recent housing market crisis? Thanks for any advise you can provide!

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Real estate is price specific and area specific. Economy and politics go hand in hand and it effects every aspect of our lives, no doubt, no doubt, it definitely effects real estate. All in all I am painting you very general picture. Again, you have to look at everything, in order to decipher the facts from roomers, or whishes, when it comes to real estate. You can already see the market bottoming out in some areas. Of course, nobody has a crystal ball but looking at the raw data, analyzing micro and macro economics you can draw certain conclusions! Sometimes the facts are really powerful and overwhelming! Best wishes in your endeavors!

Best regards,

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."
http://www.InsideAustinRealEstate.com
0 votes Thank Flag Link Fri Aug 21, 2009
Hi Cosmojade,

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.

Tony Fernandez
REALTOR®, GRI, e-PRO, GREEN
http://www.realestate512.com
512.699.4778 Direct
512.628.3492 Fax
tony@realestate512.com
0 votes Thank Flag Link Tue May 19, 2009
Hi Cosmojade.
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
http://finance.yahoo.com/real-estate/article/107080/Americas…


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.
Jeff.
http://www.CentralTexasHomeRebates.com
0 votes Thank Flag Link Tue May 19, 2009
Cosmojade,

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.
0 votes Thank Flag Link Tue May 19, 2009
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