We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for July, 2009 and, for the first time this year, MLS sales were higher than the previous year numbers. Month Sales Avg. Price $/SF Avg SF Avg Year % Ask ADOM Jul-08 10 $307,500 $279 1,098 1985 97% 106 Jul-09 12 $265,450 $265 1,021 1987 97% 88 Change…
Impressive New W Renderings
As the W Hotel & Residences continues to rise, the developers have been busy creating new renderings of the high visibility second street project. The renderings look great — in fact, they make you wonder how they produce renderings this good for a building that does not yet exist. We are particularly impressed by the second image where they…
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…
New Condo Investment Model: The Emergence of the Bulk Discount Buyer
Every condo market is different. Miami, in particular, has been known for over-development spurred by speculative investors. As the market appreciated rapidly, the same buyers kept snapping up more and more speculative units. When prices fell, these investors were left holding the bag. The Miami market with it’s thousands of unsold units has led to…
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For our more than 10,000 monthly readers, there are more ways than ever to keep up with the News on AustinTowers! If you have a Twitter account, you can follow us at http://twitter.com/austintowers . We regularly use twitter to send flash news updates, check the validity of rumors, and pass on market insights from experts that…
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…