Rethinking the Case for Buying in a SubdivisionPosted by Monte Davis on
If we had been having this conversation 3 or 4 years ago, I'd have said run -- don't walk -- but do whatever you have to do to stay away from all of the new subdivisions exploding in and around the Austin Area. I've changed my mind and I'm sorry to say that change is based on other people's misfortunes.
Subdivision foreclosures and short sales have created a gold mine for real estate investors.
During those "gold rush" years of the Austin real estate boom, new subdivisions were springing up all around the outskirts of the central part of the city and anyone who could fog a mirror was able to purchase them. There was a flood of new construction. Builders were putting up billboards saying "Why Rent, When You Can Own" and of course they were right.…
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