I like Liberty Hill, but if you're going to be driving into Austin on a regular basis I'd recommend against it. The traffic on 183 is horrible... Georgetown, Hutto, and Round Rock might be a better choice.
What's up with all of these rental houses in Cedar Park and Leander!
I have a hard time buying a house on a street where the rentals have tall grass, busted up exterior on the home, cars in the yard...
I'd agree with the traffic coming out of CP to/from Austin but the rail might be a good option. Depending on where you work.
I know a realtor if you need one.