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Biggunth
Posts: 1
Registered: ‎07-06-2012
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East Austin Real Estate

I am a first time home buyer and I am intrigued by the marker on the east side of 35, south of MLK. I have specifically been looking between Ceaser Chavez and 13th street on the west side of Spring Valley.

 

There are a number of new properties (Condos and Single Family Homes) for sale in that area. Many of them are somewhat new construction (2007 or later).

 

Do you think that this area will continue to grow in value with the addition of more new homes or has the "growth spurt" and allure started to fizzle?

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mortgageman
Posts: 4
Registered: ‎07-28-2012
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Re: East Austin Real Estate

Just one man's opinion, but that area should continue ot improve. It is re-developing, close to downtown and UT. Your biggest risk, if you have children, is getting into a good school, IMHO.

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krsa
Posts: 1
Registered: ‎08-04-2012
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Re: East Austin Real Estate

I'm looking into buying in this area as well. Every realtor keeps saying it is the hot spot to by and you'll get the most appreciation. The streets we've looked at still have a lot of homes run down. We're afraid we'll be living there over the next 5 years and it won't revitalize fast enough for us to truly enjoy our home while we're there. We're planning on 5 years and then renting/selling. Thoughts on this time-frame? Seems like in the past year we've seen a huge change already.

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jayjanelle
Posts: 1
Registered: ‎08-25-2012
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Re: East Austin Real Estate

The eastside is hoppin'.   The area south of Caesar Chavez is seeing a large leap in both demand and increased value.  I'm rehabbing a property there and my builder gets offers to purchase daily by passers-by.  It's quiet even though it's practically in the shadow of downtown.  The Swede Hill area is lovely.  Big transition to large family homes with roof tops decks that have amazing downtown views.  Chestnut area is also in rapid transformation, close to the MLK rail station.

 

A lot of these properties are in severe disrepair so you'll need to the take the cost and time of rehab into consideration.

 

With so much construction downtown with the addition of major, major hotels, office space, retail and restaurants.  A lot of people will want to live downtown.  Condo's are priced between $350 - $660  a square ft plus HOA makes the eastside the next logical step. Schools are an issue but I see an awful lot of young families moving in.  Either they go private or anticipate the schools improving alongside the home values.

 

Opinion from a non-real estate professional:  I don't think you can go wrong south of Caesar Chavez.  Closer to the water the better.  I think the area north of 7th/West of Comal is lovely.  In particular Swede Hill area.  West of Chestnut/north of 12th is