I don't have a direct answer to your question, but am curious. What makes you say that Austin, TX is an emerging market?
I don't doubt you, but I grew up there. I hadn't been back in about 15 years and went last summer. The city seems fine overall, but real estate has barely budged in appreciation since I left. I would have to say that overall, the properties I saw had below national average appreciation.
If you feel there is something on the way that is going to boost the city and property values, I'd be very interested in hearing about it!
I would caution about looking for 'hot cities'. Nearly every city has smaller sections or neighborhoods that are 'hot' or 'cold'.
For instance, I live in Cincinnati where the real estate market lags behind the national average. However, there are a couple of neighborhoods - especially the long neglected downtown area that is seeing well above 10% annual appreciation right now.
So be careful with generalizations. Happy hunting.
I just talked to two different investors that mentioned Austin TX but I don' t any more info. on it. Just curious as well. I am glad I brought it up because now seeing that you came from there and you didnt see much happening well I think its like my town. I would of said two years ago, "not much happening here" and then ....BOOM! real estate market went red hot and prices doubled! in little town of Woodland.. I never saw it coming...just a boring industrial/agg town.
Thanks for the response gang
I don't have a direct answer to your question, but am curious. What makes you say that Austin, TX is an emerging market?
I don't doubt you, but I grew up there. I hadn't been back in about 15 years and went last summer. The city seems fine overall, but real estate has barely budged in appreciation since I left. I would have to say that overall, the properties I saw had below national average appreciation.
If you feel there is something on the way that is going to boost the city and property values, I'd be very interested in hearing about it!
NYJosh
It sounds like you have seen some statistics about different areas appreciation rates. Where did you find these?
Thanks
http://www.google.com/search?hl=en&ie=UTF-8&q=average+national+real+estate+appreciation
I would caution about looking for 'hot cities'. Nearly every city has smaller sections or neighborhoods that are 'hot' or 'cold'.
For instance, I live in Cincinnati where the real estate market lags behind the national average. However, there are a couple of neighborhoods - especially the long neglected downtown area that is seeing well above 10% annual appreciation right now.
So be careful with generalizations. Happy hunting.
I just talked to two different investors that mentioned Austin TX but I don' t any more info. on it. Just curious as well. I am glad I brought it up because now seeing that you came from there and you didnt see much happening well I think its like my town. I would of said two years ago, "not much happening here" and then ....BOOM! real estate market went red hot and prices doubled! in little town of Woodland.. I never saw it coming...just a boring industrial/agg town.
Thanks for the response gang