The Great Debate About MonteVista Condos in West Austin

There has been great discussion about whether condo conversions are a wise purchase, particularly the MonteVista condominium project in West Austin. We have had a chance to do some initial research on the MonteVista condos, and here are our findings.

MonteVista Condos Overview

Our initial reaction to MonteVista is that the location is spectacular. Being on the corner of 360 and 2222, as a resident you would be nearly equidistant to downtown Austin and Lake Travis. This would be great for a resident who worked downtown, but likes to spend their weekends on the lake. The grounds themselves are beautiful, with two resort-style pools and outdoor BBQ grills. The amenity center is complete with a private theater and a modernized fitness center. Unit finish-outs vary from basic to upscale. All units have 9 foot ceilings, and feature large balconies.

MonteVista Condos For Sale

There are currently 18 MonteVista condos on the market, 2 are pending and taking backup offers, and 5 have sold since January 1, 2010, according to recent Austin MLS data. Units that are currently for sale range from $99,900 to $229,900. Square footage ranges from 608 to 1150.

Are Condo Conversions a Wise Purchase?

In my opinion, condominium conversions are generally a poor purchase. Reason being that there are usually plenty of better alternatives in a similar price range. Any of these alternatives would generally hold their value better than a condo conversion, for a bounty of reasons.  A few that come to mind are quality of workmanship, overall quality of living, and most importantly financing challenges.  I have personally seen some condominium conversions that cannot obtain any financing at all, and most of which are not FHA approved.

MonteVista Bucks the Trend

But in the case of MonteVista condos, I think it makes sense. There are not many alternative condominiums near MonteVista that offer a similar lifestyle, and none can match the spectacular location in West Austin. And the best part, MonteVista condos are FHA APPROVED. Finding a condominium conversion in West Austin that offers FHA financing in today’s market is worth serious consideration if you are a looking for an attainable way to live in this upscale area.

Do you have an opinion about MonteVista condos?  We’d love to hear your thoughts.

About Joseph Ensor

Joseph Ensor is an Austin Realtor and the co-founder of ENSOR Real Estate Group. In addition to representing select clients, he works closely with each of his team members to help them build a successful career in selling Austin real estate. As a graduate from Arizona State University with a degree in Finance, he enjoys helping his clients and his team members with the mathematical side of each transaction. With over 18 years of experience in real estate investing and sales, he understands the overall complexities involved in a real estate transaction. He uses his expertise to overcome challenging situations and his objective is to work diligently and intelligently toward a positive outcome for his team and for his clients.

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