Condo fire sales at Brazos Place , the Shore and other projects have led readers to question the value of purchasing condo units directly from the developer during or prior to construction. In these and other projects, full price buyers have seen the value of their units plummet when the developer dumped excess units at a deep discount….
Sage Announces Auction Plan: Here We Go Again
First Brazos Place. Then Bel Air. Now the Sage. This week the Sage Condos in South Austin — 1702 South Lamar — announced that they will be selling the remaining 23 units through an auction on August 22. This is the third major auction in the Austin market. In May, the Brazos Place auctions saw…
June Downtown Condo Sales: Mediocre
We’ve crunched the numbers and updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index fro June, 2009 and the results are amazingly unremarkable. Month Sales Avg. Price $/SF Avg SF Avg Year % Ask ADOM Jun-08 13 $308,927 $300 1,027 1982 98% 60 Jun-09 8 $431,738 $292 1,400 2000 87% 117 Change -38% 40% -3% 36% 18.00 -11%…
The New Downtown Street Parking Model: Stay Longer, Pay by Credit Card
There is a new street parking model for downtown Austin. New solar powered “pay stations” will soon replace the City of Austin’s 3,800 single space parking meters. One of the most significant changes to customers will be the ability to pay for on-street parking with credit or debit cards, in addition to coins. The first…
904 West: A New Condo Project to Rise on 9th & West
A new low-rise condo project is set to rise on 9th Street and West Avenue. The $8 million development is close to the Nokonah in a corner of downtown that has seen very little condo development. The $8 million project will include 33-units, 9 of which are described as “work/live” units and 22 of which…
Enfield Condos To be Completed After 2-Year Pause
For the last two years, a modern condo project on Enfield between Mopac and Lamar has been sitting idle as the result of a dispute between former designer-builder of the project, QMET Building Co. LLC, and the former owner, Bolter Corp. Now, the bank has foreclosed and, in an unusual move, hired a construction manager…