What are the top 5 Austin neighborhoods going thru gentrification as result of high tech moving to Austin? (Georgetown: middle-class, real estate)

[ashbeeigh]

Ora le pilla heavily from Gen Z and entry level folks. They may have some high level folks that can afford these new big prices, but most are hipsters who want to live and be by the lively downtown area. The majority of oracle employees are renting “luxury” apartments or renting a home with other tech folks in areas mentioned.

[Austin97]

Originally Posted by RobertFisher

You are right - "gentrification" may be too sophisticated a term for what I am asking. I'm just curious which areas' home prices are moving up fastest currently. It may or may not involve neighborhood makeover.

In Silicon Valley, a very common pattern is some major tech company (Google, Facebook, Apple, etc) decides to set up office in a previously undesirable location, and all the sudden neighborhoods around that location begin to see prices increase, because employees want to live close to office. This happened to Cupertino 30 years ago, Fremont/Milpitas 20 years ago, Redwood City about 10-15 years ago, and East Palo Alto (the "Murder Capital of America") only a few years ago. If the location is a deserted area, initially the prices just went up without the neighborhood changing, then, when land ran out in that area, re-building started to happen.

I researched neighborhoods where high tech companies setting up shop in Austin. Apple is at Riata Crossing on the north side; Oracle and Google are on the south side along the river. Have neighborhoods around these place see higher price increase than other neighborhoods?

quail creek shown as "north austin" in google maps. Also montopolis.

East of 183 is also in the process of gentrifying, though much of it is just empty land.

[RobertFisher]

Originally Posted by Austin97

quail creek shown as "north austin" in google maps. Also montopolis.

East of 183 is also in the process of gentrifying, though much of it is just empty land.

I took a look around Austin using Google Streetview, and, whoa.... even within 2-3 miles from Oracle building or Apple building there are land that I would describe as “prairie"....

I guess that's what "ground floor" looks like.

[ashbeeigh]

Originally Posted by ashbeeigh

Ora le pilla heavily from Gen Z and entry level folks. They may have some high level folks that can afford these new big prices, but most are hipsters who want to live and be by the lively downtown area. The majority of oracle employees are renting “luxury” apartments or renting a home with other tech folks in areas mentioned.

Wow. Oracle….I hate when my phone autocorrects when I’m unknowingly using the Spanish keyboard but writing in English. Sorry for bring a mess.

[RobertFisher]

I roughly picked a house that I thought looks pretty "buyable" to me. Any one care to comment on this house? Price, location, style, transportation, crime, schools, overall trend, anything you care to comment on; good or bad. This is part of my learning about Austin and Austin's real estate market. I love to travel to Austin but I think for this round I will need to buy some homes sight-unseen because we can't really travel now.

https://www.zillow.com/homedetails/5...84365262_zpid/

[ashbeeigh]

Originally Posted by RobertFisher

I roughly picked a house that I thought looks pretty "buyable" to me. Any one care to comment on this house? Price, location, style, transportation, crime, schools, overall trend, anything you care to comment on; good or bad. This is part of my learning about Austin and Austin's real estate market. I love to travel to Austin but I think for this round I will need to buy some homes sight-unseen because we can't really travel now.

https://www.zillow.com/homedetails/5...84365262_zpid/

Do it. Buy it now. Elgin is the next San Francisco. (Search the forum for Elgin and come back to us).

[Austin97]

Originally Posted by RobertFisher

I roughly picked a house that I thought looks pretty "buyable" to me. Any one care to comment on this house? Price, location, style, transportation, crime, schools, overall trend, anything you care to comment on; good or bad. This is part of my learning about Austin and Austin's real estate market. I love to travel to Austin but I think for this round I will need to buy some homes sight-unseen because we can't really travel now.

https://www.zillow.com/homedetails/5...84365262_zpid/

I think it looks great, but it is 28 miles from 78701. Another way to look at it is the distance to the domain, it is 35 miles to the domain.

I personally would try to live as close as possible to downtown and the domain. I would take a junkier/smaller house that is closer in. I would make sure the lot is large enough to expand. It will be cheaper to expand a house than try to move closer in.


for example this one

https://www.abor.com/listing/9604-n-...9-a8b056cfedaa

or this one

https://www.abor.com/listing/1015-bl...9-0223a024c550

[ashbeeigh]

Originally Posted by Austin97

I think it looks great, but it is 28 miles from 78701. Another way to look at it is the distance to the domain, it is 35 miles to the domain.

I personally would try to live as close as possible to downtown and the domain. I would take a junkier/smaller house that is closer in. I would make sure the lot is large enough to expand. It will be cheaper to expand a house than try to move closer in.

I think this OP just wants to find the hottest up-and-coming area and invest in it to be in Austin. There was no indication that he wanted to be near downtown or the Domain. I think what he wants is the next south congress or Zilker. That is not what Elgin is, but I'm going to let him do his own research instead of actually coming to town to see what is best for them, individually.

[riaelise]

My question is why Austin? Other than hearing about it in the media, what's your desire to live here? There are big pros as well as big cons, especially coming from California. For many, job relocations are the motivator. Yours, however, may set you up for disappointment.

Though Ashbeeigh is right, you're probably here for investment purposes. In that case, then the better areas for investment will cost you way more than $200k. Elgin can be considered 'on the rise', but it is still transitioning rural, the schools aren't great, amenities are still lacking, and it's farther out from the core (read: where the jobs are).

The northern suburbs are also farther out, but they have far more amenity wise, some have transit options, and some even have jobs. Schools tend to be better overall as well. The result is you'll be paying far more. Whatever price the home is on the MLS, expect to pay way more than that.

[RobertFisher]

Originally Posted by ashbeeigh

I think this OP just wants to find the hottest up-and-coming area and invest in it to be in Austin. There was no indication that he wanted to be near downtown or the Domain. I think what he wants is the next south congress or Zilker. That is not what Elgin is, but I'm going to let him do his own research instead of actually coming to town to see what is best for them, individually.

I appreciate your approach. Just that for this deal I have 1031 time limitation, and I can't travel now; so I have to do this site-unseen if I do it out of SF area.

Not a big deal though; I had done so before. And to reduce risk I am exploring buying 2-3 homes in the 300K-400K range, instead of one higher value home. You are welcome to opine on this approach as well.