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Hot Housing Markets

Texas dominates list of best housing markets to invest in 2015

Jonathan Rienstra
Jan 13, 2015 | 9:03 am

Another day, another list pimping out Texas’ real estate market. This time, Forbes declared five of its 20 “best buy cities,” i.e., where to invest in housing in 2015, are in Texas, including Austin at No. 1. In fact, all five Lone Star locales are in the top 10.

Behind Austin are Houston (No. 3), Dallas (No. 5), San Antonio (No. 6) and Fort Worth (No. 10). Forbes worked with Local Market Monitor, a data company that looks at home prices and economic factors in 300 housing markets across the nation, and determined that these cities are safe bets to invest — whether for rentals or first-time buyers — because of strong job and population growth, diversified economies, and relatively low housing prices.

Austin’s housing market is slightly overpriced at 8 percent, according to Local Market Monitor’s “Income Price,” which tries to capture how the average home would be priced in a market without speculation or disruptions like the housing crash and how it relates to the average income over several years. Still, the city’s booming population — which grew 8.9 percent from 2010 to 2013 — and annual job growth of 3.6 percent push it into the top spot.

Houston’s housing market is still underpriced by 7 percent, with an average home price of $214,049, and the area’s job growth is exploding at 4.1 percent annually. Dallas is underpriced by 9 percent, with an average home price of $197,159, and a slightly lower job growth of 3.8 percent.

San Antonio’s houses also are underpriced: by 12 percent, with an average home price of $189,080. San Antonio’s job growth is 2.5 percent. Of the Texas cities, Fort Worth’s market is the most underpriced at 17 percent, with an average home price of $180,312, and annual job growth of 2.6 percent.

Texas had the most cities on the list; Florida had the second most, at four. However, only No. 4 Orlando made the top 10. For the Texas cities, home prices have been growing between 7 and 12 percent, which indicates that even though flipping houses might be harder as the market continues to strengthen, the investment for long-term ownership is good in Texas.

Local Market Monitor did say that oil boom cities like Midland were bad investments, while the larger Texas cities had enough economic diversification to weather the current energy-sector storm.

Rounding out the top 10 are Provo, Utah (No. 2); Denver (No. 7); Boise, Idaho (No. 8); and Oklahoma City (No. 9).

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news/real-estate

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Made-for-TV listing

Chip and Joanna Gaines put fixed-up Waco mansion on market for $7.4M

John Egan
Nov 3, 2026 | 10:44 am
​Gaines Fixer Upper mansion
Facebook/Magnolia Realty
A Waco mansion fixed up for TV by Chip and Joanna Gaines is on the market for $7.4 million.

A Waco estate that will star in Chip and Joanna Gaines’ latest TV series, Fixer Upper: Chip Bought a Mansion, has gone on the market for $7.4 million.

The more than 14,000-square-foot mansion sits on a 5.7-acre site at 5305 Hillcrest Dr. that boasts views of Lake Waco. The listing, held by Amanda Nesbitt of the Gaineses’ Magnolia Realty, says the home “will be thoughtfully reimagined to reveal a timeless, more neutral-leaning palette for a future owner.”

Listing photos show the pre-renovation state of the mansion.

The European-style mansion, featuring a red-brick and cast-stone façade, looks similar to luxury homes you’d find in Preston Hollow, Highland Park, and other high-end neighborhoods in the Dallas area.

A light-filled, two-story foyer with a floating staircase and ornate iron banisters greets visitors, as do parquet flooring and stately columns.

Gaines Waco mansion The mansion foyer before the renovation.Facebook/Magnolia Realty

Venturing into the six-year-old home, you’ll find six bedrooms and 11 bathrooms. The first-floor primary suite offers two bathrooms, several closets, and courtyard access. A guest suite comes with a bedroom, bathroom, living area, kitchenette, and private entrance.

Amenities include:

\u200bGaines Fixer Upper mansion

Facebook/Magnolia Realty

A Waco mansion fixed up for TV by Chip and Joanna Gaines is on the market for $7.4 million.

  • Private study
  • Billiard room
  • Media room
  • Wet bar
  • Wine cellar
  • Butler’s pantry
  • Gym with a steam shower

Outside, several covered porches, an outdoor kitchen, an infinity-edge pool, and a pond let residents and visitors soak up nature. A motor court and four garage bays provide ample space for parking.

As part of the Fixer Upper renovations, the home’s architectural details, such as trim, moldings, and millwork, “will be preserved and elevated in order for their craftsmanship to shine,” the listing says.

Gaines Waco mansion The mansion has a splendid view of Lake Waco.Facebook/Magnolia Realty

Meanwhile, the kitchen will be turned into the “central heart” of the mansion, according to the listing.

“Additional design refinements throughout the home will set an elegant, renewed vision for all that Hawkesdene Estate will become,” the listing says.

Fixer Upper: Chip Bought a Mansion, a six-episode series, is scheduled to debut Dec. 27 on the Gaineses’ Magnolia Network and HGTV. New episodes will be available to stream the next day on HBO Max, according to TV Insider.

Chip purchased the mansion three years ago as an investment property, People magazine reported. The series follows the Gaineses as they confront budget challenges and a three-month deadline to sell the property.

“This will be the biggest fixer we’ve ever done,” Joanna says in a clip from the show.

Chip and Joanna recently sold a 136-year-old Waco castle that served as the foundation of another series, Fixer Upper: Welcome Home – The Castle. They listed 6,176-square-foot Cottonland Castle at nearly $2.7 million. The sale price wasn’t disclosed.

chip and joanna fixer upper hgtv luxury mansion texas waco home-for-sale
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