Is Meridian good place to buy home? (Austin, Spring: apartment, to rent)

[atxcio]

Originally Posted by jobert

Ironically, this is the double-edged sword they have chosen to live with. Back in the 80's-90's, the majority of development south of the river was junk-yards, dirty auto-repair shops and light industrial buildings. Residents who chose to live in this area of far SW Austin made a conscious decision to be removed from the rest of south/sw Austin - as it was dirty and undesirable.

The majority of residential stuff built south and north of Austin in the 80s - early 90s was low-grade, economical tract housing. The fight against Circle C and the birth of the SoS ordinance seemed to have only delayed the development of that area by a decade or so.

One side effect of the delay, though, is that SW Austin got built during a prosperous time in Austin, where high salaries and easy mortgage money meant everything new development was a bit more upscale. Now, proximity to town (Austin's boundaries have expanded so much) pretty much eliminates the likelihood of any "affordable" style housing being built there.

It's at the expense of environmental concerns, but probably overall to the benefit of home values in that area.

[jobert]

Originally Posted by atxcio

The majority of residential stuff built south and north of Austin in the 80s - early 90s was low-grade, economical tract housing. The fight against Circle C and the birth of the SoS ordinance seemed to have only delayed the development of that area by a decade or so.

One side effect of the delay, though, is that SW Austin got built during a prosperous time in Austin, where high salaries and easy mortgage money meant everything new development was a bit more upscale. Now, proximity to town (Austin's boundaries have expanded so much) pretty much eliminates the likelihood of any "affordable" style housing being built there.

It's at the expense of environmental concerns, but probably overall to the benefit of home values in that area.

There are still areas in SW Austin (on the aquifer) where one can buy NEW houses starting in the 180's.. the same price as homes in Pflugerville: //www.city-data.com/forum/austi...ugerville.html

The ability and willingness to build new houses will always be present in SW Austin, but the infrastructure, amenities and "destinations" within this part of town won't keep pace with the overall number of people living there. When Austin gets a new major attraction, there is a 99% chance that residents in this part of town will have to spend a minimum of 20 min. in a car to get to it, probably longer.

I think as our local penchant for expensive housing ($417K+) and upscale establishments slowly returns, there will be many more areas to consider than there were pre-2007, and the status quo will have evolved moreso by then as it has over the last 3 years.

[firsttimehomebuyer1981]

Hey Jon - I dont know where you get your information from but I have friends all around Austin and there are affordable places such as Circle C, Meridian, Avery Ranch, Spicewood,etc which have either held onto their value or lost a few points.

My personal concern about this place is that this falls in the corner and there is nothing South of it. Even the county changes.

[JERiv]

Originally Posted by JDeror

I am planning to buy home in Meridian but I have few questions regarding the area.

1. There is no CVS or HEB within 2 miles. Do they plan on opening one in few years?
2. New elementary school - is that a good point or bad? I mean it could turn out to be an average school.
3. And it appears that they are struggling to sell home in that area - both used and new.
4. How is the intersection of La crosse and Mo Pac in the evenings and morning?

My Realtor is a big fan of the area and claims that you cant negotiate more than 5% with anyone in that area.

And I drove around the place yesterday and it appears that it is almost 10-12 miles from that downtown, which is not as close as few guys in this forum claim.

Jon

Well, here's my take:

1. HEB is actually pretty close, on the intersection of Escarpment and Slaughter. It is a very nice HEB. There are a few more HEBs around, but they're a bit further away (ex. William Cannon & Brodie). Also, Whole Foods is expected to open up a supermarket at William Cannon and Mopac, if you're into the organic scene.

2. It sounds bad, but the biggest factor in school performance, to my understanding, is just how well off the parents of the kids attending that school are. And Meridian/Circle C houses, although they aren't super expensive, aren't cheap either. So you should be good there. Just take into consideration that the three elementary schools in the area, Clayton, Kiker, and Mills, are all very, very good schools. So I would think you can reasonably expect the same type of performance from the new elementary school in Meridian.

3. This one I don't know about. We bought in Circle C proper. The houses in Meridian looked really nice, but our realtor recommended we stay in Circle C proper due to appreciation. Dunno if that's actually accurate, but we went with it. Plus back then, the turnaround wasn't there on 45. Plus resale was cheaper than new construction, which was mostly what was available in Meridian.

4. That I don't know! One benefit of living in Circle C is that you can just drive through it. Saves you a few minutes, depending on where you live in Circle C.

On negotiating, you can always negotiate. It's the right market for it. Our realtor was extremely aggressive, and we got a very, very good deal on the house we bought. You just have to be willing to walk away, and not get caught up in how much you "love" that house. There's always another one, we've now learned!

On commute, if you work in the city and have to deal with rush hour traffic, the location of your workplace is hugely important in determining your commute. It will be much more than 25 minutes if it's in the NE. If it's in the SE, it will be 25 min or less. If you don't drive during rush hour, your commute will be very short.

This area is actually considered very close to downtown. RR and Steiner are further away, and in rush hour traffic are worse. Unless you work in North Austin, that is!

Other than that, this is a very nice area to live in! Lots of things to do, Wildflower Park, Veloway, close to Salt Lick (yum), etc. You'll prob really enjoy living in the area.

Good luck in your search for your new home!

[llkltk]

I was surprised that Circle C depreciated and Meridian's values went up. My realtor said that it is because Circle C is showing it's age.

[svatsa]

Prices in Meridian and Circle C depreciated by 2-4%

[Jennibc]

Originally Posted by llkltk

I was surprised that Circle C depreciated and Meridian's values went up. My realtor said that it is because Circle C is showing it's age.

Depreciation from when to when? I built a house there back in 99 that we paid 156K for that now would cost something like 265K. So I am not sure what you mean by depreciation.

[trayanh]

before 2000, gas price (regular) was under $1.

Originally Posted by Jennibc

Depreciation from when to when? I built a house there back in 99 that we paid 156K for that now would cost something like 265K. So I am not sure what you mean by depreciation.

[tomler]

Originally Posted by jobert

Studies have shown that 10-out-of-10 realtors are big fans of areas where they own/sell real estate.

You should type your realtor's name into TravisCAD, and see what pops up.

Interesting Statistic although subjective it may prove to be true. Another statistic I enjoy quoting is that 9 out of 10 people who often quote statistics believe that there is always one in every crowd.

Meridan is just a neighborhood. My personal research has shown traffic is difficult in evenings getting home. Of course not as difficult as Steiner Ranch.

My question would be, is there a need to walk to the stores listed? I know from living in downtown cities where walking is the norm, it may just be a matter of perspective. I agree with others on the thread.

One place I found that does not work for my new job across town is a sleeper community of Brodie Springs. Big lots, nice trees, right near shopping, banks, etc. Elementary school is exempliary. There were like 5 or 6 SPEC homes on the ground that were really nice. The builder I liked in there was Grand Haven. I saw them up north where I am looking too.

Good Luck.

[Jennibc]

Originally Posted by trayanh

before 2000, gas price (regular) was under $1.

Where were you living? I've never paid under a dollar for gas and I've been driving for a couple of decades. And what has that got to do with this topic anyway?