Greg Hodge, GRI, PG

Hi Melanie,

I think the market might be a little different in Austin, TX than North Andover, but I appreciate the information. I am sorry to hear about your husbands job, maybe you should move to Austin while your still flexible and liquid. It was voted in the top 10 of places to live and work by Forbes.com. I bet your husband could easily find a job here. You could also probably pay cash for a decent house in the near town suburbs.

As for the loan business, you may also want to try a mortgage broker instead of your local bank. If you are curious call Coldwell Banker Mortgage at 1-888-324-3846. They are national, have access to a wide vareity of loan options, can qualify you in 15 minutes and get in big trouble for not being responsive.

Let me know if their is anything I can help you with. - Fri Sep 5 2008, 16:18

Hi Voy,

Tom is right that it is hard to beat an area 5 new house or renovation. I know of a recently built home available right now on market in the low 200's already renting for $1500.00/month. The other cool thing about area 5 is the new Commuter rail station coming in March 2009 just off of MLK and Clifford. For Austin rentals and investments it is really hard to beat.

Coldwell Banker has several listings in that area that may interest you. See my website for more contact information and listings. - Fri Sep 5 2008, 15:59

Hi Juli,

I grew up in San Antonio, but moved to Austin in 1996 and stayed. The areas you mentioned are great hot spots and you have the right idea, but they are a bit priced out and everyone already knows about them. Buy the remodel in these areas that has been on the market for a while. Seller is probably upside down.

The new hot spot for the fixer-upper is in East Austin or MLS areas 2 and 5 west of airport blvd and adjacent the Mueller development, UT-Austin, and downtown. "Fixer uppers" can be purchased under $200K in a close, trendy, up and coming area leaving a lot of room for upside. There are a lot of good builders and contractors that specialize in fixing these homes. Remodeled homes in this area sell between $300K and $600K, just be aware of the Austin McMansion ordinance and you will make a great investment! Don't let people discourage you from your dreams. Zip codes are a way of life in Austin, pick one that meets your lifestyle and go get it!

Call or email me if you want to know more!

Greg - Wed Sep 3 2008, 06:39

I wish you warmest welcome from Texas. I live, work, and specialize in the Round Rock and North Austin areas. As a graduate of UT, I have lived all over Austin. As a former environmental consultant, I have traveled all over the US and Mexico. The feel of "Community" is why I settled in Round Rock and why I am in Real Estate. This place is like no other I have ever seen.

Third party community profiles are available from my website, but don't take it from me as I am bias. Austin is ranked #2 of best cities to buy a home (Forbes.com). "buying isn't much more expensive than renting. An average mortgage payment is $1,022.40, and average rent hits $767." (Maurna Desmond, Forbes, 7-14-08) Austin is voted # 6 of Best Cities to Live, Work and Play from Kiplinger's Personal Finance magazine, July 2008. They relied on factors such as population growth, percentage of workforce in the creative class, income growth, median growth and cost of living to choose our Best Cities for 2008.

Here is a WARNING! Houston was voted #1 on both charts, but being from Canada you may not like the humidity, think Hurricane. The city also reminds me of one big shopping strip mall close to the coast. Austin offers tons of outdoors preserve areas with hike and bike trails, etc. to get away with less than a tank of gas.

There are also many new 1st time buyer finance options available in certain areas. Email me if you think this was useful and I will share more.

P.S. Austinites and Round Rockers do not like to share these secrets and I would only divulge this information on Trulia Voice and to my personal clients. - Wed Sep 3 2008, 06:15

Hi Ryan, It is true that homes in this area will likely range in this 130's range for a 2-story. The current market does give a higher price for one-stories because of more demand which is why sq ft is not the only thing you can go by. Likewise, if your condition has for example copious tile, wood flooring, or granite counters you will warrant a higher price, not to mention your nearly third of an acre. Short answer - price is a function of property and market condition. If you have the right condition in our relatively stable market, you will get the price! Great question, but I will have to see it before I can make a final determination. Fill free to email me to set up an appointment. - Wed Aug 27 2008, 06:29