Zoning Changes Coming for the UT Campus Area
It’s no big secret that, along with Austin’s booming downtown condo market, the popular university-area neighborhood of West Campus and North Campus have seen some major changes in recent years. As recently as 1999, there were essentially no big new properties on the market like those we have [...]
S.M.A.R.T Now Easier than Ever
If you’re a UT student on a budget - and you’re definitely not alone - then you have probably heard about the S.M.A.R.T. housing program. The SMART program is a housing assistance program that’s provided by many of the larger apartment complexes in the West Campus area - West Campus apartments [...]
So it’s February. You’re back in classes, back in Austin, and generally back in action. And if you’re anything like many of the other UT students this semester, you still haven’t found your place for next August. When it comes to West Campus apartments, and UT apartments and condos in general, the early bird tends to get the worm (the best choice of properties), and to a certain extent many outstanding properties have already leased up this year. This includes properties such as the Villas Nueces and Villas San Gabriel (all leased up), the Texan West Campus, and others. However, there are still a large number of great UT apartments in West Campus, North Campus, and Hyde Park that are ripe for the taking, and West Campus Living has some outstanding deals ranging from studios and 1/1s all the way up to large 5 and 6 bedroom houses (you can search for properties here). Whether you’re looking for an apartment already or just thinking about getting the process started, we’ve got some advice for you: don’t wait! There is still lots of great inventory and the earlier you lease the better selection you get! Read more to learn about some of the great properties still available for August 2010 pre-lease in West Campus.
There’s no shortage of large, corporate apartments in the West Campus area, many of which are overpriced, charge extra for features that could be included, charge per space for reserved parking, or do not include any bills in the rental price. But University Quarters, a small complex located on Hemphill just behind the Villas on Guadalupe, is not only a clean, affordable 1/1 located just a block from the north border of UT campus, but it’s got lots of great extras included in the price. If you’ve been looking for an affordable 1/1 near UT in West Campus for an August 2010 pre-lease, this is what you’ve been waiting for. And with excellent local management, an ideal location, and bonuses that aren’t included in almost any other West Campus apartment or West Campus condo, this is definitely the one. University Quarters offers modest sized (approximately 400 square feet) 1/1 units with parking included. Reserved parking is also included in the rental price for all units and is located just steps away from your front door. Further, trash and hi-speed wireless internet is included at not additional cost!
It’s often extremely difficult to find an affordable apartment within walking distance to UT campus that’s worth living in - much of the private inventory (duplexes, houses, etc.) is in very bad shape, and some of the larger apartment complexes that do have lower prices are downright scary. That’s why we are so impressed with Camino Real - a West Campus apartment complex with clean units, gated access, ample FREE parking, and an ideal location just a few blocks from campus near the ZBT house. A management company with a solid reputation, excellent pricing structure, and great location make this an excellent choice for 2010 pre-lease, and prices start at just $775 for a spacious 1/1. Interested in finding an affordable West Campus apartment for next year with lots of perks but aren’t interested in paying outrageous prices? Look no further than Camino Real - just call up your West Campus Living agent (after all, they’ve been voted #1 three times in a row) to schedule a property tour today!
According to the Austin American Statesman and the Real Estate Center at Texan A&M (boo Aggies!), after two years of steady decline in occupancy rate and pricing in the Austin apartment market, the end of the 2009 saw improvement and 2010 looks to be a strong recovery year for the Austin market. The uptick in prices and occupancy can be partially attributed to the generally strong and steadily-recovering local economy, the fact that Austin has had fewer layoffs than most other major cities, and the general desirability of relocating to Austin. The fact that fewer buyers were purchasing new homes also leads more people to choose apartment living as an alternative, and this probably won’t change much into 2010, although the most recent data suggests that Austin actually had a massive year-over-year increase in home sales in December as well (over 57% according to the Austin Board of Realtors). The major takeaway from all of this: despite the fact that over 4000 apartments were added to the Austin market from June-December alone, more units were actually leased in that period than were built, which is a perfect example of the resiliency and singular nature of the Austin market for rental property and and even better reason to invest in multifamily property in Austin, TX!
A recent Austin Towers article points out the fact that the huge number of top ten lists, shout-outs in business magazines, positive press coverage, and explosive growth rate in Austin all point to an undeniable fact: Austin, TX is no longer a sleep college town, but rather a thriving top-tier city that is going to continue to attract huge new residents in the coming years. Austin has grown rapidly during the last decade (as have the surrounding areas such a Pflugerville and Round Rock which have both been among the fastest growing cities in the US in the past five years), and people coming to Austin are eager to take advantage of the fantastic job market, stable real estate prices, quality of life, and more. How does this relate to the UT real estate market? Investing in UT real estate isn’t an excellent idea just because of steady appreciation, consistently high occupancy, and unparalleled location, but also because as Austin continues to grow and true central city density develops, property is going to be at an even greater premium that’s closer to Downtown, parks, major thoroughfares, and retail/dining. Sound familiar? That’s UT Austin, specifically the North Campus and West Campus areas (you can search for properties here or learn more about the neighborhoods here), and West Campus Living is here to help you make the smart move today. Read on to learn more about some of the recent attention Austin has received and some of the ways in which it’s going to be one of the most important American cities of the next two decades.
While we’re relatively comfortable in the campus market - high occupancy, stable prices, and quick turn each August are the name of the game - the Austin, TX apartment market has experienced some significant changes as the economy has shifted over the past two years. According to a recent article from the Austin Business Journal, many Austin “Class A” apartment owners (this is virtually all apartments in the campus area as well as countless others around Austin) are going to face operational and financial challenges during the first half of 2010. Read more to find out about the difficulties that they will face, learn more about the market for homes, condos, and apartments in Austin, and get a sense for how these changes in the rental market will affect the average renter.
The Austin, TX real estate market is weathering the storm. Despite a tumultuous economic climate, a major recession that’s been particular hard on the housing market, and high unemployment, Austin has weathered the storm, offering solid returns on real estate investments and a stable job market thanks to an educated workforce coming from the University of Texas. We’re fortunate to have had stable home prices, rising home sales, stable rent prices in central Austin neighborhoods (particularly West Campus, North Campus, and Hyde Park that cater to students), and increases in housing starts and new jobs despite the economy. We’ve even seen a strong downtown condo market develop and prosper over the last five years, and despite some naysayers claiming we’re going to have a downtown condo bust akin to Miami or Las Vegas, the evidence doesn’t justify their claims - our inventory is actually quite low compared to the large numbers of new people moving to central Austin, and we’ve seen strong sales despite changes in the lending arena and overall housing market issues. The bottom line: Austin has been and will continue to be an excellent place to invest, whether you are a UT student or not, and according to recent research by Coldwell Banker, Austin is among the easiest of the desirable college towns to afford.
West Campus Living is now hiring NEW and EXPERIENCED real estate agents to join our growing team. Don’t have your real estate license? No worries - some of our students finish their classes in as little as 48 hours! After a very successful first year and being voted #1 by UT students THREE TIMES in the UT Most award with the Daily Texan, we’re excited to keep expanding our reach in the Central Austin market. This job is commission based so the sky is the limit and we move as fast as you do.
Are you a UT-area leasing or sales agent looking for a change? Are you tired of the same old west campus agencies and looking for a more charismatic, energetic company that provides you with a lead system to manage your leads and an invoice system to bill and track your transactions….all for free? West Campus Living is the market leader in West Campus and is growing each and every month, and this is due to the fact that more and more agents are catching on to the unbeatable combination of tools they offer.
