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Old 12-10-2006, 05:38 PM
 
30 posts, read 126,811 times
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I took a look at Town Lake Village, and it looks like a pretty good investment especially @ 125k (does seem very cheap), a little bit away from downtown (a stones throw) but the price is right. Traditionally Riverside has not been the best neighborhood (crime, rundown properties, traffic, and college students). But times they are a changing and this should be a nice longterm investment and a decent place to live. I actually think the riverside area is the next area to be upscaled.
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Old 12-10-2006, 06:04 PM
 
Location: Austin, TX
944 posts, read 3,944,335 times
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Quote:
Originally Posted by Lockett The Lender View Post
Traditionally Riverside has not been the best neighborhood (crime, rundown properties, traffic, and college students). But times they are a changing and this should be a nice longterm investment and a decent place to live. I actually think the riverside area is the next area to be upscaled.
I have to agree with that, because there aren't any other directions to extend the core of "affordable central Austin" and people want to be central. Plus, it's an easy drive to the airport and lots of people who move here seem to want that access. I guess Austin has lots of long-distance commuters. Those tech people.... always flyin' to San Jose and such.....
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Old 04-01-2007, 01:06 PM
 
Location: Austin
70 posts, read 368,276 times
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You can get a ~600s.f. unit @ Brazos Place for under $250k.
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Old 04-01-2007, 01:09 PM
 
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There were also 750 sq ft units available at the 360 for around 190k when they first came up for sale a month or so ago.
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Old 04-01-2007, 03:10 PM
 
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East Riverside Dr. may indeed become "upscaled" one day but I don't see that happening anytime soon. At present, it seems to be the Austin epicenter of Mexican immigrants.

With the new mid-rise zoning applied to West Campus, I would guess that the vast majority of Riverside/Wickersham apartment complexes will be losing their remaining student base and the entire area will soon be immigrant renters.

IMHO, If you enjoy quality of life (i.e. good schools, good local grocery experience, relative lack of crime) I think this is a situation where it is better to rent an apartment in a proven neighborhood vs. spending the same to mortgage a condo in what is currently one of Austin's less desirable areas.
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Old 04-02-2007, 07:14 PM
 
Location: Austin
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360 is up to $260k for the 1BRs now.
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Old 04-03-2007, 07:58 AM
 
Location: SW Austin & Wimberley
6,330 posts, read 17,982,821 times
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Quote:
East Riverside Dr. may indeed become "upscaled" one day but I don't see that happening anytime soon. At present, it seems to be the Austin epicenter of Mexican immigrants.
I somewhat agree about this area. Many of the older apartments are being refurbished and converted to condos. I think it's at the early stages of a long term transition. The proximity to downtowm/UT is fantastic and will eventually win out over other factors, but it's hard to say how long that will be.

As it is now, there are still plenty of condos that can be purchased below $100K.

Steve
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Old 04-03-2007, 09:34 AM
 
Location: Hutto, Tx
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We drove through there going back home one weekend and I was surprised at how it's being refurbished. There were some cute houses there.
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Old 04-05-2007, 12:16 AM
 
7,742 posts, read 15,040,093 times
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Quote:
Originally Posted by citygonecountry View Post
Hi guys,

I'm planning a move to Austin mid-2007. Interested in purchasing loft style home in active, "artsy" downtown area. Prefer being within walking distance to parks, shopping areas, restaurants and gym. Need ample parking to park my car, but want to be close to bus/rail stop because I hate to drive. Is it possible to find all I'm looking for in Austin under $250K, or am I dreaming? Currently researching the Railyard Condos and Milago Condos. Anyone familair with either of these? Opinions?

Thanks for any and all input,
CC
Austin is still in an upcycle. The next down cycle is predicted to start in 2008 and the real estate market will bottom out in 2009. In conjunction with overbulding I would expect to buy in the next two years.

The railyard lofts are older, but are real lofts. I have heard that being on the ground floor is annoying as people are constantly walking by. The second floor is also noisy, but I have been thinking about purchasing there.

I am planning to wait for prices to go under $200/sq ft

City govt is trying to get 20K people to live down there (right now I think it is 5K) so even if you buy now you will probably be fine for the long term.
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Old 04-05-2007, 12:20 AM
 
7,742 posts, read 15,040,093 times
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Quote:
Originally Posted by deeptrance View Post
There's an ad for 2 BR condos off Lakeshore on the south side of Town Lake east of 35, going for as low as $125K, it's in the latest issue of the Austin Chronicle. It's called "Town Lake Village" and their website is that name with a dot com at the end.

Lockett TL, do you happen to know why they're so affordable? I know it's not the nicest place in town but it's CLOSE to everything, easy commute, next to hike-bike trail, and that area is destined for major improvements so it seems like a sure-bet that it would be a steal to get something so cheap that close in. Am I delusional?

It is always difficult to tell. but if you only buy where it is already popular you will never get a good deal. Houses in east austin were around 70K-100k ($100/sq ft 3-5 years ago, now they are 200k+ (200/sq ft). Lofts downtown were about 200/sq ft just a few years ago, now they seem to be running about $300/sq ft
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