Investing in Austin Texas Real Estate

From Jason Crouch, expert in investment real estate
in Austin, Texas...

Another hot area for investors is the Austin real estate
market. Since the tech market crash of 2001, this jewel in
the rough hasbeen of strong interest to investors, especially
those who are able to capitalize on their equity from other
hot markets. It remains quite affordable for most first-time
investors, with Austin homes and condos in the $100-300K
being of particular interest, as well as duplexes.

Austin is a youthful, optimistic town with an average age of 28.
The University of Texas, with approximately 50,000 undergrad
students, certainly contributes to the young spirit of the town.
Nestled in the beautiful Texas hill country, Austin is scenic and
serene, with a chain of lakes running from west to east and
thousands of acres of devoted park land and nature preserves. The
Austin Texas real estate market seems poised to take off
again in 2005, with the number of Austin homes for sale dropping
slightly over the second half of 2004 and with a frenzy of home
buyer activity occurring during this holiday season, according
to Austin Realtors.

Austin Texas is also known as the “Live Music Capital of the World”.
With its eclectic mix of venues and bands, this may just be true.
On any given night in Austin, one could see the latest independent
college band or jazz band, or catch a county music or hard rock act.
Additionally, Sixth Street in downtown Austin is lined with
restaurants and nightclubs, and this is the center of activity for
those who want to party and relax, especially on the weekends.

Austin is also well known for its schools, which is another reason
investors seem to flock to the area. There are entire districts in
Austin that are rated as “Exemplary” by the Texas Education
Agency. The Lake Travis, Round Rock, and Westlake areas all
have terrific, award-winning schools. This has propelled
Lake Travis real estate to all-time highs in ’04, while the
Round Rock real estate market is still quite affordable for most
investors. One would do well to consider the up-and-coming
Austin market as part of an investment portfolio.

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News Article-A Steady Supply of First Timers

I found this article in the Sun News website, Posted on
Sun, Nov. 21, 2004, and written by By Alan J. Heavens,
Inquirer Real Estate Writer.

Interesting points in the article were:

Fully 40 percent of people who buy existing houses
in a calendar year are entering the market for the first time.
This year, if sales projections are on the mark, that number
will top out at 2.6 million homes.

The typical first-time buyer, the Realtor survey found,
was 32, with a median income of $54,500. Twenty-four
percent of respondents identified themselves as African
American, Latino or Asian.

The typical first-time buyer was 32 years old, with one in
10 under 25 and more than half between 25 and 34, the
survey data showed. Median income was $54,500, while
three-quarters of the respondents said they made less
than $75,000 a year.

Seventy-seven percent of first-time buyers responding
to the survey were white. However, 24 percent of the
total identified themselves as African American, Latino
and Asian. They also were somewhat more likely to
speak a language other than English than repeat buyers.

In Northeast Philadelphia, we have everybody," said
Chris Artur of Artur Real Estate in Mayfair. "I listed a
house recently where nine of the 10 people interested
were Asian."

"There is a real mix of first-time buyers," he said.
"About 75 percent of the less expensive houses are
being bought by investors, and the more expensive
twins by people who plan to live in them, but it is
still a definite mix of immigrant groups."

Although only 7 percent of buyers said they found
their agents on the Internet, 74 percent said they
searched for houses there. This compares with
2 percent of buyers surveyed in 1995.

More than 80 percent of Internet searchers said
they used a real estate professional to buy houses,
Lereah said.

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