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Old 03-31-2021, 11:42 AM
 
Location: Austin, TX via San Antonio, TX
9,843 posts, read 13,581,731 times
Reputation: 5701

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Quote:
Originally Posted by Need4Camaro View Post
Well FWIW if this were LA, SF, NYC, Boston, within the proximity of the city center it is from downtown Austin you would be within the $800k thru 1.2 Mil territory for that specific property.
This isn't those places.
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Old 03-31-2021, 11:47 AM
 
11,668 posts, read 7,811,243 times
Reputation: 9780
Quote:
Originally Posted by ashbeeigh View Post
This isn't those places.
It’s to emphasize that buyers coming from those places will tend to be less shocked at these prices than we are.
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Old 03-31-2021, 12:07 PM
 
596 posts, read 298,869 times
Reputation: 552
Quote:
Originally Posted by Need4Camaro View Post
It’s to emphasize that buyers coming from those places will tend to be less shocked at these prices than we are.
Yep, and there's this


https://www.google.com/amp/s/www.kvu...c-c19530d282e7

Admittedly, I don't agree with everything this article is saying as it still throws out the misnomer insinuating that Austin has been invaded by Californians, which has been disproved.

https://www.google.com/amp/s/www.kvu...c-c95b32bc5ec6

I suspect it's people from a variety of states, plus some Dallas and Houston money.
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Old 03-31-2021, 12:10 PM
 
11,668 posts, read 7,811,243 times
Reputation: 9780
Quote:
Originally Posted by BobPhipps View Post
Yep, and there's this


https://www.google.com/amp/s/www.kvu...c-c19530d282e7

Admittedly, I don't agree with everything this article is saying as it still throws out the misnomer insinuating that Austin has been invaded by Californians, which has been disproved.

https://www.google.com/amp/s/www.kvu...c-c95b32bc5ec6
It kind of depends of how they are measuring it. If they were born in California vs relocating from Californian. I am of belief that those are where people are born. I particularly was born in Texas but I have moved all over the country before moving here, technically though by its measure, I came here from Texas.
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Old 03-31-2021, 12:40 PM
 
12 posts, read 19,711 times
Reputation: 25
Thank you all for sharing your knowledge of Austin. I've been reading this forum for a few months now and really appreciate your efforts.

If I may offer an outsider's opinion... Many companies are relocating to Austin (upside!) and are bringing with them home buyers (downside!)... Yes, the price increases have been huge--unimaginable, really. And yes, it is (or at least feels) unfair to local buyers who are now struggling to compete. But to out-of-state buyers, the prices look enticing. One poster gave a great description of Silicon Valley (pop. 2M) "probably the most overpriced place on earth for what you get, which is basically mind-numbingly dull post-war suburbia for like $1,200+ sq ft." So as crazy as the market seems compared to what it has historically been, for people relocating from California it is still so much better than where homes have been unaffordable for more than a generation.

And as for cash vs loan, yes rates are really low, but it comes down to where do you think your money is best invested--a home or the possibly-overpriced stock market.

Anyway, that's my two cents as the spouse of a native-Austinite who's looking to return home.
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Old 03-31-2021, 12:44 PM
 
596 posts, read 298,869 times
Reputation: 552
Quote:
Originally Posted by Need4Camaro View Post
It kind of depends of how they are measuring it. If they were born in California vs relocating from Californian. I am of belief that those are where people are born. I particularly was born in Texas but I have moved all over the country before moving here, technically though by its measure, I came here from Texas.
I suspect it's based on change of residency and not native born to a given state. The thing I saw on this recently was like 86,000 total for the entire state of 29 million people. Even if Austin got one eighth of that number, it's still only roughly 10-11k people for a metropolitan area that has over 2 million (So about .5%). Admittedly inventory right now is probably in the 40k range, so sure a 25% impact on the market can make a difference. Looks like they're just going to have to get some more inventory.
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Old 03-31-2021, 12:52 PM
 
7,987 posts, read 10,329,287 times
Reputation: 15000
Holy c*rap, folks! This house in Steiner, 2100 square feet, was listed for $499,900 and closed yesterday. It sold for $710,000 - 42% over list!

https://www.redfin.com/TX/Austin/293.../home/31290764
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Old 03-31-2021, 01:22 PM
 
11,668 posts, read 7,811,243 times
Reputation: 9780
:S

Does it atleast have a view?
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Old 03-31-2021, 01:45 PM
 
7,987 posts, read 10,329,287 times
Reputation: 15000
Quote:
Originally Posted by Need4Camaro View Post
:S

Does it atleast have a view?
Nope. Seriously, whoever bought that house has lost their dam* mind. I get that a house is worth whatever someone is willing to pay for it, but...

We could honestly get $850K for my house right now, and I don't think $900K would be out of the question. I love my house. I am emotionally attached to and invested in my house. We have always intended for this to be our forever home, so every update and remodel we've done (kitchen, bathrooms, floors, paint, etc.) have all been created around exactly what we needed and we wanted. And even I wouldn't pay that much for this house - and it was basically designed for me.

I think my neighbor will be putting her house on the market pretty soon. I'm curious to see what she gets for it. Our lots are basically identical, and our houses, although not the same floorplan, are pretty darn close. We've made a lot more updates and improvement to ours, however, so ours is probably worth a little more than hers.

For reference, we paid $280K for it in 2005.
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Old 03-31-2021, 02:36 PM
 
Location: Elgin, SC
240 posts, read 342,134 times
Reputation: 74
I understand the OP. We lived in Georgetown from 18-20 and were renting. We were building a home and then my MIL became sick so we moved back to Ga to be closer and she has since passed. We're heading back to Tx since we loved it and our oldest is going to college to play baseball there. There is nothing in Georgetown in our price range and school now. My husband's job is in Temple and nothing is there either. I don't know what we're going to do but it's definitely crazy times in trying to buy.
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