This past weekend, the Austonian hosted one of Austin biggest galas — the Ballet Austin Fete. With dinner on the 33rd floor, a cabaret on the 10th floor, and a wild party in the lobby, it was quite an event for an active construction site. Hundreds of guests moved between venues on rickety construction elevators…
News
Austin real estate news combined with editorial and opinion.
New FHA Rules for Condo Mortgages
FHA loans provide qualified buyers an opportunity to purchase units with loans that they would not otherwise qualify for. In particular, FHA loans allow for smaller down payments, often as low as 3% of the purchase price. Next month, the rules behind these Federal loans will be changed substantially, making many condo projects and buyers…
Shore Closeout Promotion
Since May 2, the Shore has been aggressively trying to closeout sales on the last 82 units. Amazingly, the developers successfully sold 62 units in the first 10 weeks of the promotion between May 2 and July 23. This is twice as many sales as were recorded during the same period for all other DT MLS listings….
Sage Auction Results
At least 18 of 23 units at the Sage Condos, a new low rise development on South Lamar near Oltorf, sold in the third major Austin condo auction of the year. All 23 units received bids and 18 of the bids were immediately accepted by the developer. The format of the auction was a first…
Texas A&M Expert: I See the Bottom!
Mark Dotzour, the director of the Real Estate Center at Texas A&M University , has announced that the Texas real estate market has likely reached bottom. According to Dotzour: “I feel now is the time to buy a house in most Texas cities. Housing affordability has never been higher, and I never thought I would see 5 percent…
BartonPlace July Construction Update
After a week of problems in the Austin development scene it was great to hear from BartonPlace where construction continues as normal. They even sent pictures to prove it! BartonPlace includes 270 units across 6 buildings each of which is 6 stories tall. According to the developers, sales continue to go well and traffic has increased…