Market Updates: West Campus Apartments

So we’re reaching the end of the UT Apartment leasing season, and school starts in just a few short days at UT Austin.  But while most of the West Campus inventory is taken, there are plenty of apartments, houses, and condos in West Campus just waiting for someone who has the last minute need for a place near UT and for whatever reason has waited until the final days to lock something down.  Immediate move ins, huge price drops, and other market conditions that are very rare in during the early summer are now the norm, and we’ve had clients move in the same day as they filled out applications!  Overall, apartments such as The Block, The Quarters (though they still have some 2 and 3 bedroom plans available!), The Venue, Lone Star Lofts, and The Villas are essentially (or actually) leased up, but several others such as Jefferson West (with double occupancy rooms starting at only $750!) and 21 Rio are offering incredible prices (up to 40% of previous market value) in these final weeks of West Campus leasing.  If you’re looking for a DEAL there’s no time like the present to give us a call and get connected with a knowledgeable agent who can help you navigate what’s out there.

An update on purchasing in Austin: 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 such as the Kiddie Condo Loan now 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 unaware that this program ends soon - you’ve got to get something under contract by November in order to qualify, so there’s no time like the present to find your dream house and make a move!  While it can be trickier to qualify for amazing loan programs when a property is an investment property, we have lenders who can help with creative workarounds (such as making the property a “second home” for your folks who live in Dallas or Houston) or can show you how to purchase a property in your name as an FHA buyer with your parents as the cosigners (this is quite easy and several of our agents have done deals like this recently!)

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.

Comments

About Author