Once Again, Texas is a Great Place to Buy

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The National Low Income Housing Coalition recently conducted a study in the 100 most populous metro areas in the country.  They analyzed whether it makes more sense to buy or rent in each area.  Of the top ten areas where it makes more sense to buy than rent, five of them are in Texas.  Austin comes in at number ten.  So, all of you renters out there, start looking.  With the mortgage rates as good as they are, now is a great time to make that move.

15 responses to “Once Again, Texas is a Great Place to Buy

  1. Austin definitely is a great place to buy — I’ve met several 20-something renters who are beginning the house hunt since it makes more sense to buy. But as with any place, property value across town varies GREATLY. You can get a huge family home in very south Austin for $150,000, but in central Hyde Park, you’ll have to fork out $400,000+ for a tiny bungalow, sometimes just one or two bedrooms. I think the market is best for people who want to live in South Austin — that’s where all the deals are to be had, in my opinion.

  2. Of course the suburbs give you more for your money. But I am interested to read that Texas buyers are being offered great mortgage deals at this time. You can’t get a loan for a magazine here.

  3. Good article, we have a little different spin on things here, the rental market is so tight that if you have pets, or smoke for get about getting a place to rent, nobody will rent to you.

  4. God Bless Texas! Even though we don’t live in Austin anymore, it is still our favorite place in Texas (which is the best state in the USA – which is the best country on the planet… what does that make Austin?) 🙂

  5. I love Texas and I believe that the simple Texas state law that states one can not do a cash out refinance over 80% of value is why we are so stable today.

  6. Braxton – Have you run any MLS stats on Austin for 2007-2008? Round Rock real estate sold prices actually increased (increased!!) from 2007-2008. Further proof that our market is stable and even growing when others are seeing dramatic price drops. We are very lucky to sell real estate in Texas and not other parts of the country.

  7. Makes sense; Texas is ideal for a lot of reasons including sheer size which brings the acreage cost down. There’s also the warm weather which attracts those from the midwest and east coast. And Austin contradicts most people’s first impression of what a Texas town might be like.

  8. Last week, “Entrepreneur Magazine” released its latest list of Best Places to Buy a House. Not surprisingly, the Austin metro area placed at the top of the list this time around. In the article, columnist Danielle Babb (who also co-authored a book on finding foreclosures with my friend Bill Nazur) states,

    Round Rock and Austin have seen incredible job growth and very stable home prices despite the downturn nationwide. Jobs continue to grow here–a factor for keeping inventory low and prices stable. I read this somewhere yesterday

    And this might be one of the reason for growth of real estate business in Austin. After knowing this there is no surprise if everyone wants to move to texas lol. Because these days everyone is being kicked out of the job and we hear that job opportunities are increasing here in texas. So why not we think about this option right??

    Regards,
    Michael McLaughlin, Cary real estate

  9. I am a native from Texas, who lives in centralamerica. Texas always been one of the most atractives places to buy in the USA.

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