Friday, May 15, 2009

What's A Bargain???

I guess this post could possibly be an extension of my Mad Money post. Over the past couple of years I have seen Austin top the "Best of" list from Forbes from the most attractive people to the most generous city. Most of the time I agree with the evaluation. However, this one I had to give a cackling laugh too.

A bargain?? Who's idea of a bargain? Just the other day while Toby and I were at the tattoo supply store in the less desirable section of Austin I noticed a home for sale. Out of curiosity, I stopped and grabbed one of the house info flyer's out of the info box out front. I wanted to see for myself if what my very good realtor friend had told me was true.....that I couldn't afford to live in Austin proper. (Hence the reason why I now live in the burbs of Austin, Tx.)

She was right. In my translation, the flyer read....800 sq. ft. 2 bedroom 100year old house in the "ghetto" for only $250,000! Are they crazy! Austin is the coolest city I have ever lived in but this is highway robbery! If Forbes calls that a bargain, then they are as crazy as the folks asking $250,000 for the house I just described. I am inclined to assume for the sellers to be asking that price that there is someone out there that has more money than they know what to do with that is willing to pay it just to have an Austin address. :-)

Here is a bargain for ya Forbes.....for only $130,000 reduced to $115,000, I got a 3 bedroom newly constructed home with an unattached 2 car garage and a large yard with access to the greenbelt in a nice family oriented neighborhood. I also can access any area of Austin with very little traffic issues in 20 to 30 minutes.

By the way, to my friend Jen in Cincy, it (Cincy) was also listed as one of the best cities for a bargain. Hopefully, your city has a better "bargain" than what mine does according to Forbes.


  1. I am always amazed when you hear the news about all the real estate issues and then find the prices haven't changed much at all! But then my husband reminds me - that's the asking price - not necessarily the one they will accept.

    Your house sounds very nice.

  2. I meant to respond to this sooner, and just remembered to. Prices are pretty good here in Ohio, the foreclosure capital! Makes me wish we waited a few more months to buy! I think they're just short of giving them away now!

    The house across the street from me was a foreclosure and the new folks paid 90K for a 5bedroom, 2800 sq ft house on a half-acre lot! Unbelievable! Granted, it is a 200 year old house with no A/C, but still...

    Our house is only 1500 sq.ft and we paid 128K. I guess we shoulda held out! But we do have A/C!