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re: Would you buy this Austin home for $3.6M?
Posted on 5/24/21 at 5:15 pm to fallguy_1978
Posted on 5/24/21 at 5:15 pm to fallguy_1978
quote:
Zillow
According to Zillow, my house North of Austin has increased >$35k in the last 30-days.
While our market is absolutely bat shite crazy right now - that seems a bit high.
1
Posted on 5/24/21 at 5:16 pm to rickgrimes
The view is fine but nah, not for that cost
Posted on 5/24/21 at 5:16 pm to rickgrimes
quote:
What kind of yearly property taxes are we looking at for something like this? I am pretty sure I can get a similar size home (without the views) on a 12-15K sqft lot for $600-800K in one of the northern Atlanta suburbs like Alpharetta. WTF is going on with Austin?
More people that can afford it prefer to live in Austin with amazing views, than a Northern Atlanta suburb with no views. Three rules of real estate, location, location, location, its that simple.
Posted on 5/24/21 at 5:17 pm to RummelTiger
quote:
According to Zillow, my house North of Austin has increased >$35k in the last 30-days.
Well, you are an Austin guy so you'd know better than me. She lives across the street from the Hula Hut on Lake Austin Blvd.
This post was edited on 5/24/21 at 5:18 pm
Posted on 5/24/21 at 5:17 pm to Big Block Stingray
300K over is not that rare right now in most hot markets around the country
Posted on 5/24/21 at 5:18 pm to rickgrimes
quote:
on a 12-15K sqft lot for $600-800K in one of the northern Atlanta suburbs like Alpharetta. WTF is going on with Austin?
Yeah but then you would live in an Atlanta suburb.
I know Austin is overvalued, but have you seen the news? So many companies moving here. And also as others pointed out, this is one of the most desired areas in Austin, excellent schools, nice view, nice pool, and very close to downtown Austin.
To answer your question no I would not buy it because of property tax alone. If I'm spending that much I'm getting a ranch in the hill country.
Posted on 5/24/21 at 5:18 pm to DWaginHTown
Yeps.
Posted on 5/24/21 at 5:19 pm to rickgrimes
NO frickING WAY! Austin is the Los Angeles of Texas
Posted on 5/24/21 at 5:19 pm to rickgrimes
It's obviously a nice house and too rich for my blood, but I can think of several neighborhoods back in Arkansas that would have a similar - if not better - view where that home would be $500-700k.
I don't care how much money I have, I'm not wasting a couple mil to say I live somewhere trendy vs. somewhere rural or unheard of. That's all this is, cashing in on a trendy new California-lite name.
Posted on 5/24/21 at 5:25 pm to rickgrimes
The way Austin is trending, I would buy it just for the investment value. In a few years some tech billionaire will come along and off three or four times that just to tear it down and start over
Posted on 5/24/21 at 5:25 pm to rickgrimes
quote:Alpharetta is 25 miles from downtown Atlanta. This house in Austin is 6 miles from downtown.
I am pretty sure I can get a similar size home (without the views) on a 12-15K sqft lot for $600-800K in one of the northern Atlanta suburbs like Alpharetta.
Find a nice 5,000 square foot house on 1 acre of land 6 miles from downtown Atlanta and let me know what the price is.
Posted on 5/24/21 at 5:25 pm to rickgrimes
That's really not a bad price for all that is being offered. The perch on the hill is outstanding.
What I'm saying is that in UP/HP in Dallas, 5000 sf homes like this are already north of 2-3MM. Some on no more than .25 or .33 of an acre. Even then they may have had to purchase an existing home then do a tear down and rebuild. Can't buy those views just anywhere in Texas. Can if you want to live in a smaller burg like Kerrville/Hill Country etc. Then 3.6MM can get you a ton. Not 10 minutes from DT Austin or as good of a school ISD, though.
Posted on 5/24/21 at 5:26 pm to PoppaD
quote:
I know Austin is overvalued, but have you seen the news? So many companies moving here. And also as others pointed out, this is one of the most desired areas in Austin, excellent schools, nice view, nice pool, and very close to downtown Austin.
on top of that, the city and many if not most of the surrounding burbs are anti-development to the point that at best it is expensive and takes forever to put new homes on the ground. Supply cannot even come close to keeping up with demand.
Posted on 5/24/21 at 5:26 pm to rickgrimes
quote:
Would you buy this Austin home for $3.6M?
No
Posted on 5/24/21 at 5:33 pm to rickgrimes
quote:
Austin
Homeless, junkies, and traffic
Posted on 5/24/21 at 5:40 pm to ccard257
quote:
on top of that, the city and many if not most of the surrounding burbs are anti-development to the point that at best it is expensive and takes forever to put new homes on the ground. Supply cannot even come close to keeping up with demand.
Along this logic...
We have been in our house for a year and three months, so if we sold now we'd have to eat capital gains if we didn't want to roll all profit into another house. According to our agent, she estimates we could get about $225k more than we paid for it.
In my opinion, with everything going on with lumber, the housing market here in general, and the continuous amount of people moving here - there will be a larger demand for our price of home come Spring next year.
If so, then we're cashing out. Especially if that $225k turns into >$300k.
Posted on 5/24/21 at 5:46 pm to RummelTiger
quote:
so, then we're cashing out. Especially if that $225k turns into >$300k.
but to go where?
Posted on 5/24/21 at 5:50 pm to rickgrimes
quote:
I am pretty sure I can get a similar size home (without the views) on a 12-15K sqft lot for $600-800K in one of the northern Atlanta suburbs like Alpharetta
Probably even cheaper in Brusly. Why you paying that much for Atlanta? See how that works?
Posted on 5/24/21 at 5:53 pm to rickgrimes
You’re not getting a home like that in the north metro Atlanta for $600-$800,000. Especially north Fulton.
Posted on 5/24/21 at 5:54 pm to Eighteen
He could likely throw that money into an older home in Round Rock, renovate and do it all over again (flip for a wad) in a couple of years. Eventually he'll be completely house solvent.
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