According to the Austin Business Journal, sales at the newest downtown condo projects including W, the Austonian, the Four Seasons Residences, and Spring have accelerated in recent weeks with more than 30 closings in October for downtown condos Sales at the five newest downtown condo buildings heated up in recent weeks, showing a continued trend…
The Condo Mortgage Crisis
In the current real estate market, condo sellers need all the buyers that they can find. With mortgage lending requirements still incredibly tight, the pool of available buyers is much smaller than it was just a few years ago. Now, new rules for FHA loans targeted specifically at condos will further limit the options for…
Exclusive: October Downtown Condo Sales
We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for October, 2010. For the second month in a row, sales volumes fell far below the year ago level. With the sale of two high value units, however, average sales price spiked 28% to $571K. Month Sales Avg. Price $/SF Avg SF Avg Year % Ask ADOM Oct-09…
Hello W Austin!
Tomorrow morning, the W Austin hotel will finally open. The 251 room hotel and many of its key amenities will come to life tomorrow at 11:30AM with the rest of the project to be completed over the next few months. The hotel will open with a limited number of guests with public bookings beginning on…
Convention Hotel Math
Conventions are great for downtown Austin. They bring in people that fill local downtown restaurants, bars, and stores and they help local businesses thrive. They help keep downtown well-populated and busy, they create tons of downtown jobs, and their tax dollars help fund downtown improvements. With just a few thousand people currently living downtown, it’s…
City of Austin: Dowtown Vacation Rental Investigation Under Way
The vacation rental industry is growing rapidly. Increasingly, downtown Austin condo owners are listing their units on services such as Homeaway as opposed to offering units in the traditional long-term rental market. With rates of $1,000 – $2,000 per week, a few vacation renters can make a condo owner happy. But with short-term rentals come…