Buying Near UT Austin - A Market Update

Market Updates

Buying near UT Austin has always been a wise investment, considering the sky-high occupancy rates, consistent appreciation, and relatively low cost of entry.  But in light of recent market changes, most particularly the drop in interest rates and the arrival of amazing new tax incentives, there’s been perhaps no better time to make the move to the West Campus area than this Summer!

Interest rates are below 6%, and for first time home buyers meeting the qualifications for FHA loans, down payments can be as low as 3.5 percent!  Special loan programs including the Kiddie Condo Loan allow parents to serve as cosigners on loans for their university students, allowing them to build credit and learn the responsibility that comes with ownership, and get down payments as low as 3.5% and excellent tax benefits.  Most people by now have heard about the $8,000 FHA tax credit as well, but are often unaware of the recent changes to the policy — now if at the end of the year you owe $2,000 in taxes and you purchased a first home, you can literally get a check from the IRS for the balance of $6,000!

And beyond the advantages of the current lending climate and FHA programs, there’s the consistent advantages of UT Austin real estate - occupancy rates in West Campus, year after year, are in upwards of 96%, and vacancy is often as low as 3-4 days per year! Further, appreciation is consistent year after year.  West Campus Condos are easy to lease, easy to own, and easy to sell - period.  More interested in single family homes?  West Campus Houses are always a strong choice - limited availability means huge demand for free-standing homes, and the more bedrooms the better! Currently the overall economic downturn has created a temporary buyer’s market, as condos are staying on the market a bit longer than usual and there may be a bit of room to negotiate, and yet STILL prices are holding!  Austin’s job market, the enormous draw of UT Austin, and the difficult-to-quantify appeal of Austin in general are what have kept our market strong despite falling prices nationwide, and the West Campus, North Campus, and Hyde Park markets are prime examples of why Austin remains the best place in the south to purchase real estate!

For more information about UT Austin Real Estate or any other Austin Real Estate, please check us out online. We’re your information source for UT Austin real estate, West Campus property, North Campus property, and property management. To get connected with an agent immediately, call 512.472.9378 or email info@westcampusliving dot com.

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