Real estate in Killeen Texas market

[Victor Whitney]

Hello

I am new in the real estate market and currently own two properties.

I live in Austin TX however I am looking to branch out to the Killeen Texas area due to the price market.

Anyone know the area or have properties in the area ?

I hear that area in not good due to no appreciation in years. Any tips would be helpful. Thanks

[Jacob Pereira]

Hi @Shuang W., I personally try not to allow appreciation color my analysis too much because it's so speculative, but yes, I suspect appreciation will continue to be much slower there than here for the foreseeable future. I specifically mentioned Manor and Buda because @Victor Whitney was looking for cheaper properties, and while they're not as cheap as Killeen, they certainly are cheaper than the Austin area. 

If I had to speculate on appreciation in Manor, I see a few warring forces. You're absolutely right that there is still tons of land out there which will keep a little bit of control on pricing, but its proximity to job centers in Austin will more than offset that, in my opinion. Looking at the numbers, it looks like the median single family house price in 2014 was just above $150k and now it's just topping 200k, which in percentage terms is actually a higher growth rate than Austin. This makes a lot of sense to me, because that's a price point that many first-time buyers are looking into, as well as what I mentioned above.

What makes you interested in Manor?