Market Conditions in Austin>Question Details

Claudia Stal…,  in Little Rock, AR

East 6th Street - What do you think about purchasing a condo/loft in this area? Appreciation in 5 years?

Asked by Claudia Stallings, Little Rock, AR Fri Sep 7, 2007

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Go for it! I talk to people everyday asking the same question and I tell them the same thing. There will always be a demand for housing near DT and if you wait to buy; you may be priced out. If you were my client I would ask what your exit strategy is after five years?
1 vote Thank Flag Link Mon Sep 10, 2007
Go Willow branch lofts on the east by 18th and MLK. They are 50% cheaper for ft and rent for the same amount. Plus they appreciate high due to the east side projects.... $245K gets you $2000 a month...
1 vote Thank Flag Link Sun Sep 9, 2007
There are a lot of condos coming on line in the next couple of years, but prices still seem to be going up and the price points going up. Always hard to predict the future, but depending on price range that should remain a good area with good demand generators.
1 vote Thank Flag Link Fri Sep 7, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
Area 5 (east Austin) was the highest appreciation area in 2006 in Austin and I would not be surprised if we saw the same result this year. I am optimistic with the 5 year outlook for east 6th Street.
1 vote Thank Flag Link Fri Sep 7, 2007

I don't know if you have already made a purchase yet, But, I found the perfect buy for you! Built in 2005 with 2 full Bedrooms, 2.5 baths, hardwood floors. The purchase price is $129,900 and it is clean, modern and a sweet deal for a single professional working in downtown. I worked downtown on 12th street for 10 years, so I know the traffic can be horrible!

This is what the ad states:

Want to live close to downtown, the airport, & Lady Bird Lake? Well, look no further.5 minutes from downtown, 10 minutes from the airport & a walk to the end of the block will find you at the trail head of Lady Bird Lake. Come home to your private end unit with one car garage, laminate wood flooring, stainless steel appliances, updated light fixtures & ceiling fans throughout. Relax by the community pool or entertain in the hip clubhouse. Enjoy all the amenities of secured.

If you would like more information and/or to view this property, please email me at or give me a call (512) 590-9619. Remember, buyers representation will cost you Zero dollars, in that the Seller normally incurs this cost as part of the listing fee.

Also, there are some other similar properties, I can e-mail you so you can review and compare them.

Thanks and I hope to hear from you soon,
0 votes Thank Flag Link Sat Nov 13, 2010
I would say that it largely has to do with how long you can hold the property. The condo market follows the same general, long-term appreciation trajectory as the housing market as a whole. The difference comes when you zoom in on a shorter term. The condo market, much like the stock market, is more volatile than the general housing market, at times losing 2x the value of free standing houses in times of bust. But, over the long term, that volatility smooths out. Personally I think the condo market in Austin will be fine, even within the 5 year time frame, but as Julie said, we don't have a crystal ball and if you want to mitigate your risk, just make sure you can hold the property through a soft market if you need to.
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0 votes Thank Flag Link Thu Sep 20, 2007
I don't have a crystal ball, so I can't promise you what will happen 5 years from one can!
So far, Austin is looking good for future growth! The condo market is currently very strong....reservations are strong, and demand continues to be high. There is quite a bit of inventory coming online within the next few years, so you should take that into account when making your decision.
Remember this........the decision to purchase a condo/loft is mostly based on a desired "lifestyle". The city of Austin is working very hard to attract more "city dwellers", and it is working....downtown living is in demand at the moment. This is Austin, it's still a VERY cool place to live! 5 years from now.....I would hope it still is....all signs point that way. Call me if you would like to discuss this in more detail.
0 votes Thank Flag Link Sat Sep 15, 2007
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