Hook em horns! I've no affiliation with the University of Texas (well, I have a t-shirt as my wife used to be an advisor there), but I do have a strong interest in University Hills, 78723. Why? well one reason is that my wife used to live there. With me. Not all that many moons ago.
We were looking for our first home, and the choices that were somewhat close to town in our price range where 78745 and 78723. Simple as that.
The home we choose was a fixer upper, and it was near the site of the old airport, which was threatening to spring to life at any moment in a mixed-used urban village flash of smoke and mirrors. So it seemed like a good bet. The other thing that was different was the size of the lot we could afford - a third of an acre, covered in tall trees provided a shady retreat for our pooch, and indeed, for us.
The home was also larger than the comparable homes we were looking at - in essence, we bought a large home on a large lot, with a cool split-level layout. The 1960s rancher was split over several levels as the homes are built on the hills. Not all that far from the University. Hence, University Hills.
Now I look at the area, which had peak pricing in around 2007/2008 and I see real value. The lots are still the same - ranging typically between 0.25 and 0.4 acres - though the trees are a little older. Can't be a bad thing, right? The homes are a little older, so that now they may need a little more TLC. Nothing a good inspector, an energy audit, and a bit of negotiation can't take care of though. But the prices are really quite outstanding right now.
What do I think is going to happen to the prices as the Town Center at Mueller and the Mueller Grocery Store get put into place? As the hospital expands (it's building another wing) and as the employment base goes up? Well, my crystal ball says that prices are likely to do better here than in a suburb. As gas prices rise, the closer to amenities the better.
So what am I selling here? Some unsolicited advice about buying close into Austin, or getting a large home with a deck to expand onto as the evenings cool and you want to hear the rustling of a breeze amongst your trees? I guess not.
As luck would have it, and if you've got this far, I am marketing some homes for sale in University Hills Austin.
If you want your own forest, or a cool split level home, or a remodeled ranch home, or a fixer upper, these are worth a second or third look - 5 homes under $180,000, all close to the pool at Dottie Jordan,
Give me a call on 512 215 4785 if you want to talk University Hills!
Garreth Wilcock is an English Realtor in Austin.