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…
Keeping up with AustinTowers
For our thousands of frequent 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 we…
Austin May Eliminate Downtown Meters! (there’s a catch)
Good news! The City of Austin is considering eliminating 3,800 single space parking meters! The only downside is that they plan to replace the 3,800 meters with 750 whole block “pay station kiosks” that will make you walk down the block to figure out how to use a complex machine to print a ticket to…