An important article in today’s Wall Street Journal exposed how dire the national housing crisis has become. Today, across the country, one in six homeowners is underwater in their mortgage. By this, The Wall Street Journal reports, nearly 16% of U.S. homeowners owe more on their mortgage then their home is worth. In a county…
October, 2008: Austin Market Analysis
As financial markets retreat, the credit crisis looms, foreclosures spike, and mortgage problems persist, the national housing market is clearly struggling. In this tough environment, even the Austin market has turned negative with a year-over-year pricing decrease of a little less than 1%. While times may be rough, the truth is that bad times are…
Analysis: The Impact of U.S. Financial Market Turmoil on the Downtown Austin Condo Market
It has been a tumultuous few weeks in the financial markets. With the failure of major financial institutions, the government rescue of Freddie and Fannie, the volatile value of oil and the dollar, and the on-again off-again financial rescue package, the dynamics of U.S. markets are rapidly changing. Like all major products and markets, the…
Where are the 360 units?
It’s been four months since 360 opened to the first residents and yet not one unit has hit the MLS. What’s up? Is there any way to get into 360? When will the units hit the market? 360 has been successful because it is tall, offers great amenities, is well located, and also because it’s priced…
One Day Only: Tour the Major Downtown Condo Projects
For downtown Austin condo shoppers, there is no better way to survey downtown living options than the annual DANA Downtown Living Tour. DANA just announced the details for the upcoming 2008 tour. Here is the announcement: The Downtown Austin Neighborhood Association (DANA) is holding its 5th Annual Downtown Living Tour Sunday, October 19th, from noon to…
Important New Downtown Development Site
With the large number of downtown building projects under construction, planned, or pending, there are not too many open lots awaiting development. Now, an important new site is about to hit the market just a block from the prime 6th & Congress intersection. The Texas General Land Office is selling it’s now-vacant prototypical 50s building,…