#1 Best bargin city (Austin, Spring, West: for sale, rent, new home)

[austin-steve]

Oh good, we made a top ten list. On Forbes & Yahoo no less.

Yeah, sort of like {yawn} the group Alabama winning another music award. Or the Cowboys blowing another playoff game. Predictable. Austin's appearance in the "top" lists is so frequent now that it's hard to argue with the cynical naysayers.

But it is in fact a place where frugal minded individuals, or retirees, have the ability to live well on a relatively low monthly budget. Or where ex-Californians can enjoy a standard of living that in Orange County required two salaries but here requires one.

It's all relative.

Steve

[EastBay-NowDCarea]

Yeah DC is expensive. Surprised it made third spot as cheapest. That can't be right.

Anywhere that's expensive you will have fun. So far I love DC!! And I'm willing to pay the extra dollars!

[polo89]

Originally Posted by austinite45

a lack of buying interest in downtown condos, for one. (360 condo owners already down 30% in less than a year. A new condo on Brazos has had to auction off many units. The Austonian will only finish every other 3rd floor ...)

massive layoffs in the private and public sectors.

globalization set to continue under the new administration --> continued outsourcing of jobs in the high-tech sector, accelerated outsourcing in the legal, medical and accounting sectors.

retirees / investors / speculators will be looking for bargains in Florida or other places.

Florida?? Really? Im from there and all, but I dont see any investors moving from TX to Fla. Can you explain?

[llkltk]

Originally Posted by austinite45

You can't always take Forbes seriously.

Austin's real estate market is still inflated in my opinion. I expect the prices to fall another 20% in the coming year or two.

There will be lots of people moving out of Austin due to massive layoffs (Dell, Apple, Motorola etc).

20%, are you kidding me? My sister lives in the burbs of Chicago and a 300K home in SW Austin will run upwards of 500K in Illinois. That is a crazy assumption. Austin is predicted to have a housing shortage in 2010 so don't expect our prices to come down that low. That would be a major depressed housing market. I don't know where you get your information but it's way, way off!

[Cookiemeister]

Can you find a good home in Austin for 200K or less? What are some good neighborhoods in Austin that are not over the 250K range? What would be in the 150-200K range? I don't mind older.

[austin-steve]

Originally Posted by Cookiemeister

Can you find a good home in Austin for 200K or less? What are some good neighborhoods in Austin that are not over the 250K range? What would be in the 150-200K range? I don't mind older.

Over half the homes sold in the Austin metro area are less than $190K, which is the median price. Granted, the price is pulled down by a lot of outskirt homes that are cheaper, but a $250K budget will give you a lot to pick from inside Austin reasonably close in.

Steve

[corntortilla]

That article puts our unemployment at 5.5% - not so according to the Texas Workforce Commission, whose latest numbers have us at 6.2.

[jobert]

Originally Posted by Cookiemeister

Can you find a good home in Austin for 200K or less? What are some good neighborhoods in Austin that are not over the 250K range? What would be in the 150-200K range? I don't mind older.

You could live in S. Austin for that much. The house will be 2 bedroom, and 30 y.o. though. If you go past Slaughter (8 miles south) that is where all the new construction is happening right now, open land, don't need to pay 200K to tear down anything then build. It's the best deal in Austin right now - about $110/sf or less.

[TexasHorseLady]

Originally Posted by Cookiemeister

Can you find a good home in Austin for 200K or less? What are some good neighborhoods in Austin that are not over the 250K range? What would be in the 150-200K range? I don't mind older.

You could look in Milwood and vicinity (North Austin, just south of Parmer, west of Mopac) - there's several there available right now. Most of the ones in Area 4 (north of UT) in your price range are, indeed, 2 bedrooms, though there's a 3 bedroom or two in the North Loop area.

South, there's Cherry Creek and several other neighborhoods just south of Ben White. There's even a couple of 3 bedrooms at the top of the range ($250) in SoCo.

What exactly are you looking for in a house besides price. That would help direct you better.

[austinite45]

Originally Posted by polo89

Florida?? Really? Im from there and all, but I dont see any investors moving from TX to Fla. Can you explain?

Where did you get this logic that if you are from Florida, you will see investors from anywhere to Florida?

I don't think the governor of Florida can "see" that without the some extensive research.