Backyard Real Estate!

Capital BuildingIt is no mystery as to the status of Austin’s growth rate. It is growing. And rapidly. Austin has such a high number of people moving in that there is a lot of question as to whether or not the city will be able to keep up with it. Most speculate that it won’t. The roads are already congested with traffic, and only getting worse, a lot of the homes are old and worn out, and there isn’t very much space within the city to add additional homes. All of this contributes to the idea that Austin is growing way too quickly. Which is VERY good news for those of us in real estate. There are so many opportunities to be had, it’s a very good time to get involved, whether you want to invest, manage, or develop properties.

Investors have no shortage of interest in the local market of Austin. There are several new neighborhoods going up in the surrounding suburban areas, as well as in the local downtown districts. The majority of properties in Austin proper need some kind of upkeep or maintenance to make them what they really could (and should) be. The one I personally think is booming the loudest right now is definitely the East Austin districts near Airport Blvd. There are several neighborhoods that up until recently have been rather neglected and allowed to run down into the ground, but investors are seeing more of an opportunity for profit each day.

Austin

For the individual with a little capital and an eye for opportunity, there is a lot of money to be made in the process of flipping houses, that is buying the house from the current owner, who maybe can’t or doesn’t want to invest in renovating it, putting in the money to fix it up, and selling it again for more money than was put in for the repairs. For a little bit put in, you can quickly get back everything and more. But even better than that, some individuals choose to buy and invest, and then live in their dream house. Austin is certainly full of some great homes, and with people putting money into a lot of them, the value of every single home is going up.

The other thing that is driving up the value of homes in all areas is the overwhelming demand. As businesses grow, and more and more people move here for the business, the healthy atmosphere, or the thriving music scene, more and more people are in need of homes. What this does to the market is creates a shortage in which more individuals are looking to buy the same houses. With more interested parties and construction only going so fast, homes that are already built in great locations are very popular, so their prices are going up. Hoorah for economics! But in all seriousness, Austin is thriving when it comes to real estate. Or most anything, for that matter.

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