The Good Life in Austin Texas

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Four Texas Cities listed in Forbes Magazine-Best Cities to Buy a Home!

Austin Night ViewI have recently been posting positive news about Austin in my Blog and in order to deflect comments from skeptics who often claim that realtors are just being "mindlessly positive" because it is our "bread and butter"

I offer the newest data from a Forbes Magazine article as confirmation that, in spite of the current economic downturn things are still relatively good here in Texas. A great new article has announced that four of the top ten cities in America to buy a home are located in Texas. Stating that there is "Lots to Like In the Lone-Star State" the magazine noted that "Texas dominated our lineup of mortgage-worthy areas. Thanks to a business-friendly tax environment, many large corporations call the Lone Star State home, which creates jobs and tax revenue.

 

Quoting the data in that magazine, they are rated in the following order.

1. Houston, Texas

Houston, we don't have a problem. Well known as an energy industry hub, this growing metro area recently made Forbes.com's Top 10 Up-And-Coming Tech Cities thanks to the Houston Technology Center and bubbling entrepreneurial tech scene. With home prices on the rise by 6.6% and vacant homes disappearing by 11.3% in the last two years, this is one area where buyers can feel safe jumping in.

2. Austin, Texas (Home sweet home!)

Here, a whopping 98.5% of homes are filled, and that small sliver of vacancy is thinning. Home prices, meanwhile, have surged from $163,800 in 2005, to $183,700 in 2007.A trendy art and music scene--the city plays host to music festivals South by Southwest and Austin City Limits--makes it an affordable place to live for any culture vulture. In addition the article also noted that "The University of Texas campus provides young blood and research-related jobs to No. 2 city Austin. This state capitol is a hip area on the rise. The vacancy rate has fallen by 37.5% in the last 24 months to just 1.5%, despite a lot of building in recent years. And buying isn't much more expensive than renting. An average mortgage payment is $1,022.40, and average rent hits $767.

5. San Antonio, Texas

This Latin-flavored American city is growing fast thanks to bustling businesses and a low cost of living. Having major corporations like IBM certainly helps attract residents who bring brains and tax revenue to the city. With a median home price of $150,900, up from $133,900 in 2005, it's an affordable place relative to the rest of the country. Home to professional basketball's Spurs, this town is packed--just 2.4% vacancy--and full of Texas pride.

6. Dallas, Texas

Shiny skyscrapers and charming suburbs make Dallas a tempting place to sign mortgage papers. With appreciating median home prices in the $150,000 territory, just about anyone can get in. And with just 2.5% of homes vacant, it appears they are. While the city has a reputation for cowboy boots and big trucks, Dallas is a sophisticated metropolis that rivals any major U.S. city in terms of culture and cuisine.

Again, I am not just another "pie in the sky",  "everything is just fine" here optimist and wanted to share this relevant and compelling information for those with interest in Austin and Texas!

Have a great weekend! Russell

 

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14 commentsRussell Lewis, Broker,CLHMS,GRI • July 25 2008 06:57PM

Comments

Russell...having lived in East Texas on a 165 acre ranch...married to a Texan for 46 years, and having lived previously in San Antonio and Dallas....I disagree.....and invite you to take a look at Redding, CA.

Please go to my website   www.ronlargent.com    and look at some of the offerings in our area.

Seriously, though, I greatly admire Texas and Texans...we had a great time there, and after USC, UCLA, Stanford, and the University of Florida, where either I, my wife, or one of my 4 kids attended....I can still be proud to say "Go 'Horns".

Take care, and come visit Redding.

Ron Largent

Posted by Ron Largent at Keller Williams Realty Commercial Group over 2 years ago

Russell - Thank you for summarizing and including sleepy old San Antonio in the Big-4. Yes San Antonio like Houston, Dallas and Austin now is being recognized. I was born and raised in the San Antonio area (we have been at Canyon Lake most of those years) and have certainly seen lots of growth.

It appears we have been discovered.

Nice blog.

Posted by Carl & Ceil Winters New Braunfels/Canyon Lake TX (Complete Inspection Service) over 2 years ago

We are consistently listed in the top ten cities to live in. Keep up the good flow of information. Thanks!

Betina

Posted by Betina Foreman-Serving Lake Travis, Lake Austin and the greater Austin area! ((512)771-6318 Prospect Real Estate Solutions, LLC) over 2 years ago

Texas is good, but Spurlings best rated Wichita kansas the BEST place to own a home.  4.5% appreciation this year...

Posted by Greg Fox (Realty World Wichita) over 2 years ago

Hmmm, seems to be common theme there - TX.

Signature 

Posted by Ronald Gillis, CNSA Southwest Florida Notaries, Port Charlotte, 941-7-NOTARY (Southwest Florida Notaries (Mortgage Notary Signing Agent)) over 2 years ago

Thanks to all for yor comments. it's true about us Texans (We are rather region-centric) and thanks again to Ron and Greg for speaking up for Californis and Kansas!

 

Have a graet week...Y'all

Posted by Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Austin Texas Real Estate) over 2 years ago

Very good information to send out to all the folks moving to Texas! Thanks you for the update!

Posted by Anne Giles (AvenueOne Properties, Inc.) over 2 years ago

I thank my lucky stars every day to be living and working in Austin, Texas!

Posted by Terri Moore over 2 years ago

Hi Terry,

 

I feel the same way. It's good to be here, even in this 100 degree weather!

*WHEW*

Posted by Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Austin Texas Real Estate) over 2 years ago

I am glad to see something positive. Things are tough in many places but we are lucky to be living in Texas now!

Posted by Mattie Lewis (AvenueOne Properties) over 2 years ago

Russell - I'm proud to be a Texan. We live at Canyon Lake, TX and I just posted a blog referencing Canyon Lake being mentioned by U.S. World News that we are in the Top 10 Best placed to retire for "outdoorsey" retirees. We love kudo's.

Posted by Carl & Ceil Winters New Braunfels/Canyon Lake TX (Complete Inspection Service) over 2 years ago

Carl and Ceil,

Thanks for your comment, we are still dodging the bullet and we can all be grateful for that! I will check out your recent blog on Canyoun Lake. Try to stay cool

Russell

Posted by Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Austin Texas Real Estate) over 2 years ago

Send some of that good real estate to Florida :)  I knew I loved Texas for a reason.   Thanks for the blog.

Posted by Brittany Stewart (Elite Realty Group of Jacksonville) over 2 years ago

Brittany,

I wish i could send some good news to Florida because I know that you all need it! Thanks for the comment and I do hope things get better there soon!

Posted by Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Austin Texas Real Estate) over 2 years ago

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