Job growth is a requirement for real estate appreciation in a normal market. While this still isn’t a normal market, the latest Central Texas employment numbers provide hope that normalcy may someday return.According to the Texas Workforce Commission, the Austin-San Marcos-Round Rock metropolitan area added 17,300 jobs over the last 12 month period. This 2.3…
Exclusive: Strong August but Weaker September Downtown Condo Sales
We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for August and September, 2010. After 14 months of year-over-year sales gains, sales volumes in September dropped to below their year ago level.MonthSales Avg. Price$/SFAvg SFAvg Year% AskADOMAug-09 14 $252,029 $255 986198793%57 Aug-10 16 $330,088 $298 1,056200494%57 . . . Become a patron to get the full story…
Seaholm Redevelopment Goes to Council Vote
It was announced in May that Constructive Ventures plans to build 425 new condos in two 400-500 foot towers on an Austin Energy site just West of the 360 condo project downtown. This week, the City council’s draft agenda for the 10/14 meeting includes an agenda item to review the master development agreement for the site.The…
Updated: Building-by-Building Monthly Condo Fees
Condo fees fund the daily operations and maintenance of most condo buildings. They cover security, landscaping, cleaning of common area, common area energy use, maintenance, and other key building functions. In addition — and this is very important — a portion of condo fees are held by the building as reserves to fund major maintenance…
389 of 736 Units Sold So Far in Spring, W, Austonian, and Four Seasons
There are four downtown buildings — Spring, the Four Seasons Residences , the Austonian , and the W — where you can still find new condo units (+ BartonPlace which is just across the lake). When these buildings are sold . . . Become a patron to get the full story and gain access to TOWERS’ archive….
WSJ: Shanghai or Austin, Who’s Sexier?
The Wall Street Journal’s China Daily published a very unscholarly analysis of two cities recently recognized for their sexiness in comparison to their national peers. In the U.S.A., Austin received top honors. In China, Shanghai was on top. Having just returned from Shanghai, it is an amazing place — a super modern city of just under…