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…
Mortgage Crisis Hits Austin
Over the last two days, the Austin lending market has changed dramatically for the worse. As the subprime lending crisis has evolved into a global problem—the bankruptcy of two large lenders seems to have tipped the scales — the market spotlight has turned a negative eye on every participant in the residential mortgage market. As…
New Austin Four Seasons Residences Renderings
The Four Seasons Residences , the new condo project adjacent to the hotel, has released new renderings which provide a great feel for what the building will look like when it is completed. The renderings also show a slightly modified exterior design: more upper floors have been added with full glass walls. These replace the lower floors with…
Economic Analysis: 2008 Job Growth to Drive Austin Housing Price Appreciation
If there is one rule in predicting what will happen in the housing market, it’s that strong job growth drives strong real estate demand. This is why the Austin market was red hot during the tech boom and why the market was stagnant during the tech bust — even as real estate prices soared in…