RRR Austin

Monday, October 02, 2006

Austin's New Home Building Continues to grow

According to a recent report from a market research firm, Residential Strategies Inc, the Austin Area had 17,000 new starts within the past 12 months.

A qoute in the Austin Business Journal confims some of my previous blogs on Austin's Appreciation.

"While Austin builders are concerned about the housing slow-down reported in other parts of the country, the fact is that, for now, Austin is still a healthy market," says Mark Sprague, partner in the Austin office of Residential Strategies. "Austin did not experience the massive run-ups in house prices three years ago that affected so many markets. As a result, Austin's relative affordability and stability have served it well during the past few months."

There are specific pockets of positive new home growth that particularly interest me for growth potential, such as Teravista in Round Rock, Cimmaron Hills in Georgetown, Covered Bridge in South Austin, & Silverado Ranch in Cedar Park.

Teravista, I think, is one of the better investments in Austin outskirts if someone is looking to move into the house and live there for 4 -5 years at least mainly because of it's soon to be hotspot of growth and great golf course. I have more details on my blog about Teravista. Round Rock, year to date, has appreciated 6%.

Cimmaron Hills is located in a fast growing community of Georgetown. A new shopping area is right down the road and Lake Georgetown isn't too far either. It's a quiet community not far from anything. Georgetown's Appreciation year to date is 8%.

Covered Bridge is hilly neighborhood located in a South Austin area known as Oak Hill. It is literally on the verge of the hill country as it's one of the first neighborhoods in the "hills"! Great Home builders like Wilshire and Highland are popping up homes throughout this community. The views are spectacular the location is not far from shopping or downtown and 45 minutes to San Antonio. Lots are placed well from each other providing a little more room than some comparative neighborhoods. This area of Austin has appreciated 18% year to date.

Finally, Silverado Ranch in Cedar Park you can buy a lot of home, with nice upgrades for a lot less money than other areas of Austin. Standard Cedar Garage Doors are just an example. They have two sections, one with regular sized lots and the other has oversized lots. Once again, this area of town is beginning to explode. It's just minutes away from the Cedar Park Town Center where HUGE developments are under way, such as a 12 screen cinemaplex, Threadgills restaurant and great retail buildings. Although, Cedar Park year to date has had one of the lower appreciation rates at 5% than the rest of the Austin Area, this area is sure to grow leaps and bounds once 183A, a second highway into the area, is completed sometime next year.

There are plenty of other new home building areas, but these are just a few that have caught my eye.

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