When you buy a downtown Austin condo, you are really buying part of a building. The services, staff, amenities, maintenance, location, style, community and construction quality are more important than the particulars of any individual unit. That’s why our listings are organized by building — research shows that buyers first choose a building and then…
Weaker Austin Housing Market May Lead to Tight Future Supply
Angelos Angelou, a local Austin economic guru, commented recently on the long-term effects of the current housing slow down. With tight credit, reduced transaction volume, and a slight dip in housing prices, builders have reacted by dramatically cutting the number of new housing units under development. From 2007 to 2008, Austin housing started plunged 55%…
Austin Market Fundamentals: 2 of 3 Indicators Strong
When thinking about the strength of the Austin real estate market during normal times, there are three important variables that drive home values: population growth, job growth, and interest rates (you need to look separately at conforming and jumbo rates). While job growth does not seem to be occurring — layoffs are being announced every…
Problems at the Sabine: Residents Sue Developer
This week, 35 residents of The Sabine filed suit against the developers for list of problems that the condo owners say have been ongoing for month. The Sabine is an 80-unit condo conversion project of a mostly-empty office building on Waller Creek into a new condo project adjoining the Hilton Garden Inn on 5th Street near I-35….
February, 2009 Downtown Condo Sales
Here are the results from February, 2009: Month Sales Avg. Price $/SF Avg SF Avg Year % Ask ADOM Feb-08 6 $279,017 $309 897 1977 98% 89 Feb-09 6 $400,833 $322 1,258 1998 90% 116 Change 0% 44% 4% 40% 21.00 -8% 30% Despite a substantial increase in downtown units over the last year, February…
The 10 Mile Loop: Austin to Proceed with Hike & Bike Trail Extension
Over the last few months, the City has been floating a proposal that would achieve one of Austin’s most important urban planning goals: filling the 1.2 mile gap in the 10.1 mile hike and bike trail around Lady Bird Lake. While land owners along the 1.2 mile stretch of the lake have objected, the City…