We have been looking to "ride the wave" with either an add-on via Home Equity, or just rolling our current equity into a different home. Tough part is staying in the same neighborhood. We've got kids in school and don't want to uproot that.

BeowulfShaeffer said:

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Our 1st home was bought in 1992 in Brykerwoods (2 Br, 1 bath--smaller square footage than the apartment we moved out of) for $85K. Sold it four years later for $150K and rolled that into a home in Steiner in 1996 bought for $270K. Sold that for $385K in 2000, and bought new construction in Westlake for $470K.

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Wow, now that's how to ride the Austin wave! Well done! Crazy to think there was ever a time you could by a house in Bryker for $85K.

290. Almost a straight shot to work, as I work just a mile off it near 35. It takes me 50 minutes to an hour one way. Sometimes a bit longer getting home due to traffic patterns. It's almost all driving at 70mph, only a bit I'd stop and go in Manor and Elgin for a couple of lights, so it goes fast for me.

austinaggie2003 said:

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BeowulfShaeffer said:

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Our 1st home was bought in 1992 in Brykerwoods (2 Br, 1 bath--smaller square footage than the apartment we moved out of) for $85K. Sold it four years later for $150K and rolled that into a home in Steiner in 1996 bought for $270K. Sold that for $385K in 2000, and bought new construction in Westlake for $470K.

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Wow, now that's how to ride the Austin wave! Well done! Crazy to think there was ever a time you could by a house in Bryker for $85K.

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It was on a street that parallels MoPac (fortunately, at least on the east side of the street), and it, um, needed some work. But, yeah, it was still on the lower end of "typical" for the houses that size in Brykerwoods. Most of the homes there in the early 90s were pre-renovation. Much of the valuation increase came from people fixing up the old 2 bedroom pier and beam homes and making additions, renovating kitchens and baths, etc.

We were deciding between adding on, or moving, since we wanted to start a family. Finally, the "making a home repair every other weekend" got to me, so we built new in Steiner (before that neighborhood got huge). We left Steiner four years later because even in 2000, there just were very few services out that way. Most the 4 points corner (2222 at 620) was still empty land. We got tired of driving to Anderson Mill or Lakeway to shop for groceries, and got even more tired of driving Tumbleweed hill into town--seems like there was a wreck on it every other week or so. So, even though we loved the house and many things about the neighborhood, we moved again.

We weren't really trying to "ride the wave", it just worked out that way because of Austin's crazy growth.

Funny to think of how it was then compared to now. With Vandegrift being built, traffic is a total nightmare. I used to drive down Bullick Hollow to go home when I lived out off Anderson Mill.

And as you said, 2222 was often a mess due to an accident.

We lived in River Place from 2012-2016. Very familiar with 2222/620. At least four points was more built out when we lived there.

Bought in 78723 in '09 at $100/sf. Moved for three years and still count my blessings we rented it out instead of selling it. We've made some improvements and are at ~$250/sf in this market. I don't what to do with the equity, but I might just ride this out and pay it off. Might move down the road.

evan_aggie said:

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I realize that I may sound like an "old", but there are a few things I'm not fully understanding about what's happening with the Austin housing market.

I realize people are flocking here in the droves...I get that, and yes I do understand many come from areas where houses are $600K-1M already. However, Texas has higher property taxes than most because we don't have state income tax. The property taxes in a lot of Austin central neighborhoods is ~2.5%.

I took a drive around east Austin between 10th street and 28th+, and couldn't believe how many homes we found listed at $600+. Then we went over to Barton Hills and Bouldin Creek and found other crazy prices for smaller homes. Who is it that is buying these houses?

20% down on a $700,000 house with a 3.9% 30 year note + 2.5% property tax still results in a $4100/monthly payment. I thought I made pretty good money, but after all of my 401K contributions and savings funds...that would eat up the majority of my take-home pay. Are all of these folks successful business owners, doctors, lawyers? I'm pretty sure we are in the top 7-8% by house hold income. I know the housing market for $600K+ homes are not limited to top earners like that, so what gives? Folks just plunking more dollars into their home?

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I think it's a variety of folks that are buying these. A lot of people from California are able to just pay cash for this after selling there house out there. Plus there are a lot of people that just live above their means. Wait until the next recession and you'd be shocked how many for sale signs pop up. I certainly don't think the majority of those people are doctors and lawyers.

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Wait until the next recession and you'd be shocked how many for sale signs pop up. I certainly don't think the majority of those people are doctors and lawyers.

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I suspect you are correct...

I think you can get into Brentwood/Crestview for under 600.

AggieDoc31 said:

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So based on this conversation, where would you guys say is the best option?

My family and I are currently looking into making a move to Austin and I'd be working some in Round Rock and in Austin.I think Avondale or Northwest hills makes the most location sense, but I'm not ok spending $600k on a 3/1 house.

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Round Rock, Cedar Park, Leander, Liberty Hill. Georgetown.

I have two clients in Wells Branch and they really like the area. Scollfield is just south of that area and looks nice in a drive through it

I've had many coworkers move out of Scoffield to pursue better schools.

Potcake said:

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I think you can get into Brentwood/Crestview for under 600.

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Could find something in Allandale as well.

SteveBott said:

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I have two clients in Wells Branch and they really like the area. Scollfield is just south of that area and looks nice in a drive through it

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Renting in Scofield nice. Awesome area, close to 35 and Mopac. Domain is close. Lots of food and stores nearby. Nice homes, decent prices. We're moving further north for better schools, but we've loved living in the Scofield area.

Let me know if you want to work with a local Ag mortgage guy.

Sorry forum I just can't help myself

SteveBott said:

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Let me know if you want to work with a local Ag mortgage guy.

Sorry forum I just can't help myself

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May take you up on it as we get further down the road. Building with Weekley and have pre-approval with their preferred lender, but will shop the rates once we get 60 days to close or so.

You should have an incentivized contract to work with their inhouse mortgage company. The question I will have is what that deal is.

Sometimes they are just feathers and pixie dust and at times have some meat on the bone. Feel free to contact me through my profile.

We're about to list in Crestview and our 2100 sf 3 br 2.5 bath will list around $700k. There's a current listing in Crestview for a 3/2 at about the same size for like $735k.

There's not a lot for $600k unless you're talking an A or B unit. A's and B's spreading in here like wildfire.

Lived in Circle C area all my life, they are building $1M+ homes in some sections now. Pretty crazy.

But to the lawyer/Dr. comment, its not just lawyers and Dr.s who have household income of $250k+, in fact I would suspect that is fairly common these days.

Balcones Woods/Jollyville area would be great for you. Milwood is also a great part of town with good schools and "relatively" affordable homes.

AggieDoc31 said:

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So based on this conversation, where would you guys say is the best option?

My family and I are currently looking into making a move to Austin and I'd be working some in Round Rock and in Austin.I think Avondale or Northwest hills makes the most location sense, but I'm not ok spending $600k on a 3/1 house.

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I would suggest looking between Braker and just North of Duval. From your criteria, you would be mid way from your working locations.

That said, northwest hills is a great area, that is where I reside.

If you have to cross the Colorado regularly you want to be as central as possible in my opinion

We live in Circle C in the SW side. Not sure about the square footage you need, but between CC, Western Oaks, Legend Oaks, Shady Hollow, and a few rural developments off 1826 there are a variety of sizes, ages, and price ranges. Most will go to Gorzycki. Small, or Bailey MS, and Bowie HS which are some of the better AISD schools.

If you can leave ahead of the rush you can be downtown in 20 mins. You can go opposite the flow out 290 and get to Dripping Springs in 20 mins.

AggieDoc31 said:

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Thanks for the input everyone. Just got back from the interview and it looks more like they need me at locations further south including downtown and a location off 290 west. Thoughts on places closer to those areas?

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I would start with Travis Country, Legend Oaks and Circle C. Both great neighborhoods with awesome access to downtown and south Austin. I also shot you a PM with my info should you want to chat.

just moved into our house in Greyrock Ridge, it is apart of the Circle C HOA. The builder was CalAtlantic now merged with Lennar and building homes under the Village Builders name. but, the people and homes are still the same. i'd be happy to share my experience.

i work downtown as well.

Going to be selling our home in Avana (Circle C) in 2 months, 3800 Sq. Ft and built in 2015. Send me a PM if you might have any interest.

Whoa! Big home! Moving out of town or just elsewhere?

My wife and I are the uncommon oddball in Austin: we are shopping for a 1200-1600 sq ft home on ~ 7500 sq ft of land close to town. Most people tell us to "buy more house further away from town!"

Actually moving down the road a bit to a bigger lot.....my current is 1/3 acre and just a little too tight to fit a pool.

My wife is an architect in town so we've been to plenty of multi-million-dollar houses in town that are sitting on million-dollar lot and another 1-2 million-dollar improvement on it. Sometimes we wondered where we went wrong in our career choices ">. The crazy thing is, her bosses all made more money build/sell/move every few years to ride the market than they ever did from their real job.

With that said, we now live in SW Austin and if we list the house on the market today we can definitely sell it for $700k+. Would've never been able to be in this house without tons of savings and 50%+ equity increase in our starter home that we bought in 2005 and sold in 2014.

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But to the lawyer/Dr. comment, its not just lawyers and Dr.s who have household income of $250k+, in fact I would suspect that is fairly common these days.

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dual income in a tech rich town you can easily get to 250+

Agreed with that, the main fields for good money like that are probably

Medical - MD, APNs and PAs
Lawyers
Professional Services- Accounting, Tech Consulting, Performance improvement
Sales of any kind especially Tech
Tech - Any job that requires good English and a comp a degree will likely be in that 125k range with 5 years of experience

Other than the government, the school, construction and the service industry, I'd venture to say this is the next biggest swath of Austin jobs. I'd imagine a good portion of construction jobs pull home some good jack. The dual income piece is big to because being a highly educated bluer city means we likely have more dual incomes.

While you're not wrong, that's still a really small income bracket relative to home prices across the city.

There's certainly families like that, but it's not at all common looking at overall city demographics.