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Frequently Asked Questions

Why work with 24th Street Realty instead of another company?

It’s simple! We have the most knowledgeable Realtors® in the UT Campus and Central Austin area. There are many agents in Austin, but very few that truly understand the market that we specialize in, as buying and selling property in the UT Campus area is definitely different than many traditional sales. Please contact us for even a five minute conversation with a Realtor® and give us the opportunity to earn your business. You won’t be disappointed!

How do I schedule an appointment to tour properties for sell?

We offer three easy ways to schedule an appointment and meet with a Realtor®. 1. Inquire on our website. An agent will contact you in less than 24 hours. Feel free to be as descriptive as you wish so that we can prepare some options before we contact you or provide as little as you want and we will discuss in further detail later. 2. Call us! It’s rare that we don’t have an agent in the office during regular business hours, from 9am-5pm Monday-Friday, that can take your call and answer all your questions as well as schedule an appointment. 3. Walk in! We are located just 1 block from the University of Texas, at 504 W. 24th Street (right above Starbucks). We would be happy have an initial consultation and answer your questions, as well as go over the services we offer depending on your Real Estate needs.

Do you only represent clients looking buy and sell property in the UT Campus area?

No. Our agents are all Realtors® and members of the Austin Board of Realtors®, meaning that we have access to every property for sell in the Greater-Austin area. Though we do specialize in houses and condos for sale in West Campus and North Campus, we have successfully represented clients from Buda to Georgetown to Lake Travis. Feel free to contact us and we can discuss any neighborhood.

What is a “pocket” or “off-market listing”? How do I learn about them?

A “pocket listing” is a property for sale that a broker is listing for sale, but is not actively marketing on the MLS (Multiple Listing Service). An “off-market listing” is a property that is not currently on the market for sale, but we can find by either convincing an owner to entertain offers or to discuss with a broker about a listing that is potentially going to be on the market soon. We specialize in finding properties that fit both categories. This puts our clients at an advantage to purchase condos and houses in the UT Campus neighborhoods, such as West Campus, North Campus and Hyde Park before they even come to market. Because of this, they don’t have to compete in bidding wars over higher desired properties and complexes. It also increases the inventory for you to choose from so that you can make sure you select the perfect property to purchase. Feel free to contact us to discuss in further detail.

What is a “Non-Warrantable” condo?

A “Non-Warrantable” condo is not eligible to be sold to Fannie Mae or Freddie Mac. Therefore, most mortgage lenders will not lend on a “Non-Warrantable” condo. Also, because Fannie and Freddie will not purchase mortgages secured by “Non-Warrantable” condos, they are considered to be more risky, and thus the interest rate and down payment are typically higher. The biggest factor that makes many condos in the UT Campus area fall into this category are that 51%+ of the units in a complex are rental units and not owner-occupied. 24th Street Realty does have a network of preferred lenders that do specialize in financing these complexes, so feel free to contact us and we will be happy to refer you.

Why should I purchase an investment property in the West Campus or North Campus neighborhood?

There are plenty of factors that make purchasing a house, duplex or condo in the West Campus and North Campus area an excellent investment. The two biggest are the fact that historically the occupancy rate is 98%, which means your unit should have no problem renting at market value and secondly, the 78705 zip code, which contains of the majority of the UT off-campus housing, continues to appreciate every year. This means that you are steadily increasing the net value of your property year after year. Our agents can explain how to calculate your Cap Rate (return on investment after all expenses) and show you properties that meet your financial goals. Please contact us to today for a free consultation.

When is the right time to buy or sell in the UT Campus area?

So the easy way to answer is, “when you can get a good deal!” The age old phrase of “buy low and sell high” certainly comes into play when deciding on when to either list a condo or house for sell or, on the other end, to purchase one. Having a qualified agent plays the biggest role in guaranteeing that you come out ahead on either end of buying or selling. If there were a “sales season” for the West Campus and North Campus neighborhoods, it would be from February to August. This is when the greatest inventory of available condos, duplexes and houses for sale in the UT Campus area come on the market. During Spring and Summer is when parents of incoming or transfer UT students want to buy and when recently graduated students have parents looking to sell. If you are an investor looking to purchase or sell, contact us and we can insure that you’ll receive the highest return on your property.

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