Rent vs. Buy for University of Texas Students

Several clients I am working with at the moment are on the prowl for properties near the University of Texas that they could purchase now, live in while they are attending UT, and continue rent to students when they are finished to school.

Rents close to UT campus for a 2 bedroom 1 bath house range from $1200 - $1500 per month. With interest rates as low as they are right now (not to mention first time buyer tax credit), you can buy a little bungalow in the low $200K's and actually spend less every month on your housing than you would if you were renting... all the while gaining equity. Not a horrible plan.

Key zip codes to search for ideal properties are 78751 (north Hyde Park and North Loop), 78722 (Pannell Place), and 78702 (between MLK and 12th, as far east as airport). Here are some of the listings I like the best:

2942 Eckert in Pannell Place subdivision, East Austin 78722. List price is $209,900. 2 bedrooms, 1 bath

1410 Sanchez - East Austin 78702, walk to MLK commuter rail station. List price $229,000 2 bedrooms 1 bath

943 E. 52nd St. - north of Hyde Park area. List price $225,000 2 bedrooms, 1 bath

You can email me for the complete MLS listings.


Open House Sunday at this Darling Austin Bungalow Home, 1-3

This coming Sunday, this quintessential 1920s American bungalow in north Hyde Park will be held open for brokers, buyers, neighbors and anyone else interested in stopping by. !!

List price is $289,000. 2 bedrooms, 1 bath. Address is 5200 Avenue G, 78751. More details at http://www.5200avenueg.com/


Googie Style Architectural Design in Northwest Hills Austin Home For Sale

"Googie" style architecture, named after a landmark no-longer-existing West Hollywood cafe is described as "extreme modernist" and defined by obtuse shapes and sharp angles as well as a nod to the "space age".

This truly amazing and unique Austin home currently listed for sale on Lakemoore Drive in Northwest Hills is inspired by the Googie architectural design movement. Built in 1967 by a Northwest Hills architect for himself, the Austin home takes inspiration from the movement, but in no way is hindered by it.

The Austin home has 4 bedrooms, 3 bathrooms, a yoga room, and a green house. Total living space is 3504 square feet. The current owners have meticulously modernized and restored the home to its glory during the past few years and the result is a marvelous combination of retro and modern. Original, preserved design elements in the Austin home include lava and fossil rock walls, a floating lava rock fireplace (with seating for 12!!), a kidney bean shaped pool, a circular drive, and extensive use of metal and glass throughout.

The systems of the home have been modernized as well to include a zoned AC and tankless water heater. The Jenn-Air gourmet appliances in the kitchen also convey. For those old school audiophiles, the home has as an analog sound system throughout. Imagine the parties!

Less than 10 miles from downtown Austin, the home sits on a large private lot (more than 1/2 acre) in Northwest Hills and overlooks the canyon wall over Bull Creek.

The Austin home is listed at $859,000 by owner/agent Eileen Gill of the Marye Company. Many, many more features and updates can be found here.