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…
Bel Air Auction: More Bad News
We’ve received multiple emails from irate participants in the Bel Air condo auction. The most recent reports are that as few as two units actually sold in the auction. The rest of the bids were supposedly rejected by the seller. As more details come out, it is becoming clear that the Bel Air condo auction…
Star Riverside Halts Construction
Star Riverside, a high end condo project on the south shore of Ladybird Lake just east of I-35, announced today that construction has “temporarily” stopped as a result of the ongoing economic crisis. Star Riverside In an emergency change, the project developers are redesigning the project well into the construction process. Apparently, the original plan…
Updated: Bel Air Condo Auction Results
Contradicting our initial report on the Bel Air auction, it now looks as if the real auction results differ substantially from initial published reports. In a very unusual auction development, updated reports on the Bel Air condos suggest that while bids were placed for all of the units, only 2 of the bids have actually…
W Must Replace Troubled Lender to Proceed
Since long before the 36-Story W Hotel and Residences began to rise earlier this year, the developers have faced the unpleasant task of replacing Corus Bank as their prime lender. Bad development loans in other markets have squeezed the bank’s liquidity, making it impossible for Corus to provide the capital required to complete the W. What is the impact?…