Before the economy entered a total nosedive, the first signs of real estate problems began with the credit crunch and out-of-control mortgage rates. Starting 18 months ago, mortgage rates began to spike — especially for jumbo loans over $417,000. Over the last few weeks, mortgage rates have dropped significantly. While jumbo loans are higher, lending…
State of the Downtown Condo Market
Last week, the Statesman wrote a very strongly worded article suggesting the impending collapse of the downtown condo market. The article was based on the following assertions: – With mortgages tough to get and consumer confidence eroding, it is a tough time to sell real estate– The capital markets are a mess, making it difficult…
How Many Units Exist Today in Downtown Austin?
Local realtor Jude Galligan published a very useful count of known residences in downtown Austin. His analysis counted — building by building — all of the downtown residences he could find. Other than a few Congress Avenue residences and the Johnson family apartment in the Littlefield building, the list is very comprehensive. The list included 35 buildings…
Austintowers.net now also Austintowers.com
With the help of our sponsors, Austintowers.net is pleased to announce that we have purchased and taken control of the domain Austintowers.com. While Austintowers.net will remain our primary address, you’ll be able to find the just as easily by typing the convenient “.com” equivalent!
Seaholm Redevelopment Inches Forward
One of the most exciting downtown projects is the redevelopment of the decommissioned Seaholm Power plant. The $117.2 million project, a partnership between the city and Southwest Strategies, will result in a 22-story hotel, 60 condo units, and 180,000 square feet of retail and commercial space. This week, the project inched a step closer to…
360 Listings Now on Austin Towers
If you are shopping for a downtown condo but are averse to visiting sales offices or speaking with realtors, 360 has been a very frustrating project. They have refused to list units on their website, have avoided the MLS, and generally made it difficult for buyers to engage. With a supposed waiting list of more…