James,
You asked this question quite a while ago, when it was a seller's market. Now, though, it's more of a buyer's market. I live in Wimberley and own a Home Staging business. I Stage homes throughout Central Texas but focus on Wimberley, since it's my home town. While land and homes here have always been higher, in comparison to some other small towns, the prices have fallen, recently. There are alot of sellers who have reduced the price of their homes (Don't do this before you Stage your home! It makes a huge difference in buyer interest!), recently, so you can find some really good bargains if you research the area. If you intend to start a business here, there's always room for growth, especially in family owned and operated restaurant business. We welcome you!

Dear James,
As a 20 year Austin resident, and 5th generation native I can tell many of the small towns surrounding Austin have experienced explosive growth in the last few years. Some prime examples are: Dripping Springs, Driftwood, Mountian City, Kyle, Buda, Lakeway, Hudsen Bend, Lago Vista, Jonestown, Cedar Park, Leander, Round Rock, Taylor, Hutto and Bastrop. I would advise you to buy something sooner than later as the prices have only gone up during the last 20 years. If I may be of service to you, just call me. I would love to help you own your own piece of Texas.
Sincerely,
Betina
512-771-6318

Hi James,
I live and work in Wimberley. I can tell you without a hitch that this is one of the best places you could purchase a home. We have been written up in many newpapers(New York Post even) as the #1 small town to live in in America. There are many things that bring people here. We have rivers, hills, creeks, golf, small town atmosphere, and we are just 45 minutes from Both Austin and San Antonio.

Right now Wimberley is seeing some moderate growth, just enough to keep it small, but the houses are still appreciating at the same rate as Austin.

I would be glad to work with you and answer any other questions you may have about the area, or any surrounding areas as I work ALL of Central Texas.

James, I don't know Wimberley, but I am in College Station, a relatively small town between Houston and Austin and we have very low prices and a great market yet. You might want to consider here if Wimberly doesn't work well for you.

Good luck with your search!

Chris Tesch
RE/MAX Bryan-College Station

Wimberley doesn't have a whole lot of commercial or residential building growth, but it is still a popular area. It is very secluded and most of the population appears to be retirees or work from home folks. In General though the Austin area has steady continual growth.

It depends on what your purposes are for purchasing. If you are wanting to buy and flip real quick, then NO this is not a good time to buy and Wimberley, in my opinion, would be the wrong place. If you are looking for a rental property, then once again, Wimberley is not the place although there are some alternative options in the Austin area. If you're looking for yourself and would like to have a quiet community not too far from major cities and close to the outdoors, then Wimberley will do you good! Check out my blog on the Austin area in Activerain under Robertbrees

As a recent transplant to a "small town" just outside of Austin, from California and Phoenix, and as a REALTOR in this area, I see here today, what I saw in the Phoenix area in the 80's & 90's, where there were cotton fields between the "small towns" outside of Phoenix, but today it is all one big city, called the Valley. I would venture a guess that we will see a similar growth in the Austin and surrounding areas, soon. Therefore, buy-buy-buy because in 10 years you will have wished you had bought, if you don't now. I just recently found a City of Georgetown map that was from 1996. As you lay the most recent map of 2007 next to it, it is amazing how much this small town has grown. Once the growth begins, it goes pretty quick, and will spread out 20-30 miles from the center of the major city. Take a look at an Austin map, go out 30 miles and if your can, start investing. Good luck.

James.. I know a Broker in the Austin area.. his name is Danny Smith.. he has a great blog with some terrific information check it out at the link below and see what you think..

I,believe most small towns in hill country are a little pricey on real estate.