I want to Invest in Greater Austin
Minggu, 06 Juni 2010
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I hear this a lot, especially from individuals from outside the Austin area.
Well, let me tell you that the answers are many. But I will start by asking you a question: "What do renters generally want?" My answer--a lot of the same things that buyers want. In fact, many renters, in the median rental properties range may have been home owners in a previous location, and are starting out in the Austin area as renters because they don't know how long they will be here, want to get to know the area, or had an issue with a property that they owned in another city, before moving to Austin--so they need to rent while they repair credit. Few renters have perfect credit--which may indeed be why they are renting in the first place.
So, what are buyers and renters generally looking for in a home? A nice community? Good schools? Good access? A pool in the community? Sidewalks? A clean home? A fair price? As an investor and Realtor, these are the kinds of things that I look for in investment properties. I also want to know if there are large employers near by, especially retail, where I may be pulling potential renters. Greater Austin has a lot of these areas, but some are more prominent at this point in time than others.
Consider Cedar Park. Cedar Park has been in high growth mode for approximately 3 years now. During the past 30 months, a little more than 2,300 homes have sold off of the MLS in the Cedar Park area. This does not include new homes built and sold from the ground up by builders, but it does include some builder inventory homes that were listed on the MLS. So, the numbers are actually considerably higher than this record. The mean and median home price for these homes is just above the Greater Austin averages, at approximately $198,000 to $218,000 for homes typically 2200-2300 sf in size.
The things that make Cedar Park so attractive are all the things listed above that buyers, investors and renters like about this area of Austin--Great schools that are near by, low crime stats, good neighbors, homes and communities in good repair, good master planned community amenities, and fair market appreciation of homes. Oh, and good rental rates. In the end, I personally believe that Cedar Park is a good area for my investment dollars. If you are interested in talking about where you invest your dollars, give me a call and let's talk about your investment needs.
"What areas are good for investment property?"
"Where can I buy under $200,000 and get good rental income?"
"Where do you invest?"
Well, let me tell you that the answers are many. But I will start by asking you a question: "What do renters generally want?" My answer--a lot of the same things that buyers want. In fact, many renters, in the median rental properties range may have been home owners in a previous location, and are starting out in the Austin area as renters because they don't know how long they will be here, want to get to know the area, or had an issue with a property that they owned in another city, before moving to Austin--so they need to rent while they repair credit. Few renters have perfect credit--which may indeed be why they are renting in the first place.
So, what are buyers and renters generally looking for in a home? A nice community? Good schools? Good access? A pool in the community? Sidewalks? A clean home? A fair price? As an investor and Realtor, these are the kinds of things that I look for in investment properties. I also want to know if there are large employers near by, especially retail, where I may be pulling potential renters. Greater Austin has a lot of these areas, but some are more prominent at this point in time than others.
Consider Cedar Park. Cedar Park has been in high growth mode for approximately 3 years now. During the past 30 months, a little more than 2,300 homes have sold off of the MLS in the Cedar Park area. This does not include new homes built and sold from the ground up by builders, but it does include some builder inventory homes that were listed on the MLS. So, the numbers are actually considerably higher than this record. The mean and median home price for these homes is just above the Greater Austin averages, at approximately $198,000 to $218,000 for homes typically 2200-2300 sf in size.
The things that make Cedar Park so attractive are all the things listed above that buyers, investors and renters like about this area of Austin--Great schools that are near by, low crime stats, good neighbors, homes and communities in good repair, good master planned community amenities, and fair market appreciation of homes. Oh, and good rental rates. In the end, I personally believe that Cedar Park is a good area for my investment dollars. If you are interested in talking about where you invest your dollars, give me a call and let's talk about your investment needs.
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