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04-21-2008, 08:46 AM
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Senior Member
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Join Date: Mar 2007
Location: Hutto, Tx
5,885 posts, read 4,599,350 times
Reputation: 738
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Unless you find an area that's already been built out.
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04-21-2008, 06:44 PM
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Member
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Join Date: Mar 2008
Location: Austin 78722
44 posts, read 37,681 times
Reputation: 24
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You guys are right, Central East is overall more pricey that I thought. It looks like there are 20 homes in 78702 (central east) under $200K and around half are under $150K in the Statesman online classifieds. I drove by a few of the ones in the under $150K range and they seem to need a lot of work. A lot. Several of the $150-$200K would probably be okay with minor cosmetic fix-ups. You really have to be over $200K before anything moderately attractive jumps out. Oh, and I was wrong--my co-worker actually spent $170K on their place. They got a steal apparently.
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04-22-2008, 10:33 AM
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Senior Member
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Join Date: Mar 2007
Location: Hutto, Tx
5,885 posts, read 4,599,350 times
Reputation: 738
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What about foreclosures around that area. I was watching "our first house" show on HGTV last night, and they were in Denver near where I used to live, and these people looked at like 60 houses before they finally found one that was a quick sale (before it goes to foreclosure). Normally, it would have been out of their budget and it ended up being way more square footage than they were originally looking at, plus it had a big yard and it was right across from City Park. There must be some like that in Austin.
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04-22-2008, 10:48 AM
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Thong Guy in SW Austin
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Join Date: Feb 2007
1,494 posts, read 1,559,811 times
Reputation: 363
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you can search on foreclosures dot com to find houses in the various stages of foreclosure and see what is owed on each note.
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04-24-2008, 02:37 PM
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Junior Member
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Join Date: Apr 2008
4 posts, read 1,837 times
Reputation: 10
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I have an investment planning company in Austin and work with some very quality realtors. I would advise you meet with a realtor to make sure that you are buying in an area with potential for more upside than downside... It wouldn't cost you anything either as the realtor gets paid from the seller. Also, the biggest benefit is that they are linked up to Multiple Listings System. MLS allows the realtor to type in your criteria that you are looking for and have all the houses meeting the predetermined requirements pulled into a list for them to show you. This allows for efficient looking as you can plan your attack, instead of just driving around looking. Moderator cut: advertising
Last edited by Trainwreck20; 04-24-2008 at 03:41 PM..
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04-26-2008, 10:48 PM
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Member
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Join Date: Jul 2007
54 posts, read 42,918 times
Reputation: 20
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Thanks for all the responses. We have lots of options to think about.
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