Potential First Time Home / Apartment Buyer from Austin TX

[Hecdias]

Hey Everyone,

I kinda stumbled upon this forum when I was looking for places to buy in Austin... I am currently working in the online advertising industry and I just graduated from University of Texas a little over a year ago.

My parents brought this issue up yesterday, having rented my way through college and on the brink of signing another $8,000 away to renew my lease for next year... they think it's a lot wiser financially to buy a place downtown rather than throwing more money into rent... they'd help with the down payment.

Since I currently work downtown, I realized that there are a bunch of new condos / lofts going up around the downtown area, coupled that with the fact that the real estate market is dropping nationwide... is it a good time to buy about 1 to 1 1/2 year from now?

I apologize if I am in the wrong forum, seems like this forum is more for real estate agents than buyers...

Thanks.

[BrandonSternfield]

I'm sure if you head over to http://www.realestatewebmasters.com/...s/Austin/6239/ you could find some realtors that know the area That is a link to the REW directory, Austin, Texas division.

They should be able to better answer your questions

[Hecdias]

Wow... that was a fast reply...

Thanks for all the help, I'll head over there and see what I can find!

[Morristown]

I am sure you will also be able to figure out that if your parents are willing to help you now, that is a big incentive to do something now. Not meaning to but in but now is really a good time, in the fact that you can get better terms now, likely a better price, and the mortgage rates are still fairly low. What will be in 18 months, nobody knows. If I were to guess I would say that it is unlikely that in most markets you will see much more price drop than has already been seen.

In reality my market North East New Jersey has seen about a 2% price drop, and is unlikely to see any more. In fact long term we have a housing shortage and it is likely we will soon return to 3% to 4% price appreciation per year.

Welcome to the forum and welcome to home ownership.

Jim

[Jeff Casterline]

Welcome to REW! I agree that it is a great time to buy. Good luck in your search.

[Sam Chapman]

Welcome - the wrong place? Maybe if you are looking for real estate specifically in Austin, but you found me - the AustinRealEstateGuy. If you are at all interested in real estate and search engine optimization, this is the best place to hang out.

[SEO Nick]

Great to have you! Welcome

[REW Carrie]

Welcome to REW! Good luck in your search.

[Auliya]

Welcome to Real Estate Webmasters! Theres always help for buyers, you just gotta search for it!

[Markz]

Welcome to the forum enjoy your time here. Good luck in your seach.