12-14-2007
Austin - The top up-and-coming real estate market.

On ABC's "Today Show" last week, nationally renowned real estate expert Barbara Corcoran gave her opinion on the top five up-and-coming markets in the country. She named Austin as the top up-and-coming market nationally, and she stated that it is currently a terrific time to buy Austin real estate, specifically in the SoCo (South Congress) area, just south of downtown.
The Austin Business Journal also featured a recent article about Austin's appreciation over the past year, which was almost 10%. This places Austin at seventh in the country for 2006-07. Clearly, it is a great time to buy property in this area!

Ms. Corcoran stated that the SoCo area exemplified Austin's slogan, "Keep Austin Weird". The slogan was put in place in order to support local businesses, rather than large chain stores. It actually inspired similar movements in many other cities nationwide, including Portland and Tampa.
Corcoran said the combination of quirky and trendy shops make it a great place for nightlife. She admitted that SoCo might not be the ideal spot for families, but she said it is a good place to make money.
"Old ladies on park benches are a good sign? I've seen it over and over again. You have a ghetto area, where no one sits on a park bench. Suddenly, old ladies are there, so if it's safe enough for them, then it's safe enough for you to put your money into," said Corcoran.
The low prices in Austin combined with a strong local economy make it a natural mecca for real estate investors and new residents.