Austin topped Forbes’s lists of both the best market for investors and the most overvalued Real estate market.
Population is booming in the Lone Star State and helping Austin Real Estate Market to reach new heights. According to Austin Board of Realtors latest report in February 2016, single-family home sales increased by 2.9 percent from the year prior, with a total of 1,783 properties sold. Median single-family home prices increased 8 percent year-over-year, reaching $269,900. Additionally, the average price for single-family homes in Austin rose to $333,011, 7.6 percent more than February 2015.
As Austin is experiencing population explosion, Austin Board of Realtors mentioned some serious issues city might face in near future. Austin needs to overcome challenges which are haunting almost every major city in the country i.e. Traffic, affordability and public transportation.
“The challenges facing our region’s infrastructure are approaching critical mass,” said Aaron Farmer, ABoR president, in a release. “Austin-area residents are relocating farther and farther outside of Austin due to affordability issues and yet are spending more and more time stuck in traffic each year. With the rate our region’s population is growing, this is simply not sustainable.”
Real Estate Market in Lone Star State is shining like never before. Even oil prices reach record low, real estate market stayed untouched. San Antonio, which is fourth largest metropolitan in Texas is catching up, know to be cheapest in Texas. The Sleeping Beauty of Texas has awakened.
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Our first client, South Real Estate LLC is raising up to $221,000 to acquire completely renovated 4 bedrooms, 2 bathrooms, 2 car garage single family house located in South Austin, 78745. Property recently appraised for $255,000 and South Real Estate LLC is acquiring that property for $231,000. Property is currently leased out for $1695 and expect to maintain the same rent for next year and increase rent $25 to $50 yearly after that depending on market. Property is estimated to generate over 6% cash on cash return for investors and property value is estimated to appreciate 2% - 4% yearly basis. South Real Estate LLC planning to hold property for 4 years and will be paying out share in net rent to investors quarterly. All due diligence documents are available for investors to download in details section. Please read all disclosure, Risk and return statements prior to investing.