The Statesman ran a comprehensive analysis of the current condo building boom — it was the lead story in today’s paper. As part of the article, they interviewed many experts on the downtown condo market. With the ongoing mortgage crisis, the billion dollar question is how the Austin condo market will fare. The answer: while…
July Sales: Central Austin Demand & Appreciation Remain Strong
July sales numbers are out and the news is very positive for central Austin. While the number of sales in July decreased for the city as a whole by 2% (even as prices increased 7% citywide) when compared to last year, the story is truly a tale of two cities: inventory is growing in the…
Spring Condo Update: Construction Begins, Sales are Strong
The Spring condos, an attractive 42-story green-colored building just south of Whole Foods, is under construction and selling quickly. According to the marketing center, construction began on July 24th and completion is expected Spring of 2009. As of today, 40% of units have already been sold. We have learned of additional details of the planned project:…
Austin Housing Prices Increase 5.6%
In the midst of a rough week in the mortgage industry, it is worth taking a break from the doom and gloom to report that the Austin housing market has been relatively strong over the last year even as prices have decreased in other markets. Whatever does happen in the national economy, the strength of…
Seaholm Construction Begins
Construction has officially commenced on a five-year project to transform the Seaholm power plant and surrounding site near Cesar Chavez Street and Lamar into a large mixed-use project. The initial phase of construction, as expected, include mostly infrastructure enhancements and site preparation. Seaholm is a 7.8 acre site, the main feature of which is the…
Jumbo Mortgage Rates Spike
The mortgage crisis is now front page news all across the United States. While conforming loans remain okay — primary loans with values below $417K and full income documentation for buyers with solid credit – the investor market for everything else is in trouble. The result is a rapid rise in rates. As for the…