This week, Details magazine published its list of the ten coolest art galleries in America. As would be expected, the list was dominated by galleries in New York (4) and California (3). Less expected was the inclusion of Austin’s own Lora Reynolds Gallery which is located in the base of the 360 tower. The remaining two galleries were located in…
News
Austin real estate news combined with editorial and opinion.
Forbes: Austin Economy Good
According to Forbes.com, the Austin-Round Rock area tied for first on a list of large metropolitan areas where the recession is easing. The report listed Austin and Washington D.C. as the two top cities in terms of economic recovery. The report considered a number of factors including local economic output, job growth and real estate…
Another Downtown Building Boom?
There should be no doubt: It’s a tough time to be a downtown condo developer in Austin, Texas. While building costs have slipped from their peak, demand is soft and it remains a buyer’s market. For high-end projects in particular, supply remains plentiful and competition among sellers is fierce. Yet, developers are once again thinking…
Sabine Auction Results!
Today, more than 200 registered bidders showed up to compete for 31 units in the much anticipated Sabine auction. In the end, 29 of 31 units sold for an average 30.5% discount with a final price per square foot of $228. With strong demand, the developer added four units into the auction: three just days before…
Sabine Auction Pricing Analysis: Looking at MLS Sales
With one week until the Sabine auction , it is clear that many potential buyers are considering participating in the sale. With starting bids as low as $85,000, bargain hunters will inevitably emerge looking for a great deal. The big question, however, is what is the right price for a Sabine unit. For a few reasons, valuation…
Austin is Very Very Very Lucky
2009 was a tough year for job creation in the United States. Since job creation drives home prices, the 2009 job losses are likely to leave a lasting impact. How lasting? Economists estimate that it may take the United Stated 125 months (10+ years) to fully recover the jobs lost during the great recession of…