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Old 04-06-2016, 01:31 PM
 
Location: home
1,235 posts, read 1,530,831 times
Reputation: 1080

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Steve - I used R*df*n, and put in 200K - 300K for SFH only within the COA, both pending and active. I can't post the snapshot for some reason, CD won't let me paste.
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Old 04-06-2016, 01:46 PM
 
Location: Austin, TX
12,059 posts, read 13,880,864 times
Reputation: 7257
Quote:
Originally Posted by AguaDulce View Post
I'm moving to Milwaukee this summer after 32 years in Austin. This is not an "I hate what Austin has become" post. I'm just facing the reality that I won't ever be able to afford a house in Central Austin. There are several reasons why I've chosen Milwaukee, and I'm excited about this new chapter in my life.

I just thought I'd share this crazy real estate comp that I stumbled onto.

This house is on the market in Austin. Asking price is $775,000. It sits on .52 acres in an industrial area near Springdale and East 7th Street.



https://www.redfin.com/TX/Austin/641.../home/31365316

This one is in Milwaukee. Asking price is $749,000. It sits on .34 acres in the nicest and safest neighborhood in Milwaukee. (Click on the link to view the amazing interior pics.)



https://www.redfin.com/WI/Milwaukee/.../home/57966299
The costs of heating that monstrosity in the bitter WI winter would be astronomical. I'm thinking several thousands per month. The costs of cooling that little shack in Austin would be $150 a month.

By the way, if you just want something large for cheap, there are 9000 sq foot homes in Detroit that can be had for $50K. You would have to pump in a lot of money but you would get a lot of home for your money. Just make sure your windows are bullet proof!
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Old 04-06-2016, 02:56 PM
 
115 posts, read 230,462 times
Reputation: 112
Coming from the Bay Area, everyone sees Austin house prices as "cheap"! That's one major reason why you see lots of CA people moving into Austin (including me!) Put the OPs house in Palo Alto, or really anywhere within about 45 minutes south of SF, and it's EASILY $1.25m.

it's all relative
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Old 04-06-2016, 03:34 PM
 
Location: Texas
1,456 posts, read 1,509,374 times
Reputation: 2117
Many very interesting comparisons for sure!

Good article.
Forbes Welcome

I saw a home in the city where they had Woodstock in New York state that was a gorgeous, creative, interesting architectured luxury home for the price and the same money in Austin could get you an average 3-2-2 in an "ugly to me" new neighborhood.
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Old 04-06-2016, 04:21 PM
 
Location: SW Austin & Wimberley
6,333 posts, read 18,049,590 times
Reputation: 5532
Quote:
Originally Posted by sojourner77 View Post
Steve - I used R*df*n, and put in 200K - 300K for SFH only within the COA, both pending and active. I can't post the snapshot for some reason, CD won't let me paste.
RF is a VOW, so it was probably displaying all the Pendings on the total count. Plus they have some FSBOs on their site.

Steve
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Old 04-07-2016, 10:07 AM
 
2,627 posts, read 6,571,990 times
Reputation: 1230
Quote:
Originally Posted by Californian12345 View Post
Coming from the Bay Area, everyone sees Austin house prices as "cheap"! That's one major reason why you see lots of CA people moving into Austin (including me!) Put the OPs house in Palo Alto, or really anywhere within about 45 minutes south of SF, and it's EASILY $1.25m.

it's all relative
Well, sort of. But, comparing one of the most expensive residential areas of CA like Palo Alto isn't a fair comparison either. Comparing areas of Sacramento might be better. Or in SoCal, an area like Temecula could be compared to the Austin suburbs. I think the point is that Austin has significantly caught up when it comes to real estate prices within the past 8 years. It's not as big of a housing cost savings as it once was. Yes, the areas that were hit hard in CA have rebounded as well, but the most recent surge in the Austin area over the last 3 years has narrowed the gap considerably. And areas like Palo Alto, La Jolla, Malibu, Santa Barbara should never be used in a housing cost comparison unless you're specifically comparing them to an area like West Lake Hills in my opinion.
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Old 04-07-2016, 10:57 AM
 
115 posts, read 230,462 times
Reputation: 112
Fair enough, definitely see your point. You can't compare the 2 equally. I guess my point is that it's all relative.
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Old 04-17-2016, 04:48 PM
 
17 posts, read 18,848 times
Reputation: 13
It's definitely relative, just ask anyone from NYC or SanFran. But as someone potentially relocating from Chicago to Austin, Austin prices are SHOCKING me. I didn't realize exactly how expensive Austin was until I got serious about looking. And with all due respect to Austin and all it's positives, I'm just not sure I get it... I can't even afford an equivalent move and I live in a really nice area and a really nice house 15 mins from downtown. Sure we have income tax but good God does Austin pricy to me.

And about the winters, sure it sucks for 2 months but the summers and falls are glorious. It's fine - just like Austin in summer it's all about the clothes!

Be where you need to be. Every place has it's good and bad. Milwaukee is a pretty interesting city, it's fun to tour breweries and funky German restaurants, it's a 1 hr train ride to the heart of downtown Chicago, and Miller Park is awesome

And I am almost certain I'm going to miss Midwest people. I just love people from around here... Nothing like them IMHO. Zero attitude and zero snobbery for the most part. Except for the pretentious hipsters but I guess they're everywhere....
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