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barriogirl02, Other/Just Looking in Austin, TX

How much will do you think this house will go up in value in the next 5yrs?

Asked by barriogirl02, Austin, TX Fri Aug 17, 2012

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This question is about this property: http://www.trulia.com/homes/Texas/Austin/sold/24870754-909-C…

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Yes, it's the economy. What will it do? And, even if the national economy stays down, will Austin's? Latest forecasts have 50,000 people moving to Austin for this year, and each of the four years following. If those forecasts hold true, then overall pressure on places to living will push prices up and the property will show appreciation that is commensurate. If, (and it's a big if) there are no changes to that forecast, and if, there are no issues in the immediate neighborhood during that time. Anyone who tells you that it is GOING to go in a direction, is not speaking a fact. What they are doing is offering an opinion. If they were speaking a fact (meaning they can forecast the future reliably), then they are lying. Why? Because they wouldn't be talking to you here. They would be sitting in some idyllic spot in the world just living off the millions of dollars they made daily by predicting the future. The best anyone can do honestly in this type of situation, is look at history, factor in forecasts and then say that conditions are ripe for a move up, down or to stay steady and tell you why they feel that way. Bottom line, you have to make your moves with information and your own assessment.

Ron Cullinan
Avalar Austin
CRS, GRI, ABR, CLHMS, e-Pro
512-799-3239
http://www.austinonlinehomes.com
0 votes Thank Flag Link Sat Aug 18, 2012
Will be happy to tell you if you can tell me what the economy will be like 5 years from now. See, you're asking a "crystal ball" question which is completely unanswerable. In fact, since most economists can't come to a consensus on what the economy will look like in the next 90 days, it's fruitless to think anyone can do more than speculate which is of little value to you.
0 votes Thank Flag Link Fri Aug 17, 2012
History is a nice guide, though no predictor of the future. The challenge is determining what will happen in the neighborhood to improve the area (or create a decline). Why are you asking? Looking for a home or an investment? Two separate discussions that each require a unique plan and strategy.

With the proposed development a few blocks east of this home gaining some steam, it would seem the area is poised for growth. All observations and no guarantees of course - the economy has been known to avoid cooperating!
Web Reference: http://www.crowehomes.com
0 votes Thank Flag Link Fri Aug 17, 2012
Overall homes in austin have gone up 10% in the last five years. That's an average for ALL of the Austin metro area. And I really can't speculate on a single individual property

But as we all know, the key indicator for homes to increase in value is Location, Location, Location.
0 votes Thank Flag Link Fri Aug 17, 2012
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