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…
Austin Crane Shortage
Austin’s KXAN is reporting tonight that an acute shortage of cranes and crane operators is complicating high-rise construction in Austin. We’ve heard numerous reports from developers that a scarcity of construction labor — and skilled general contractors and sub-contractors — is leading to escalating constructions costs, and higher condo prices in the end. According to the story: “There’s no…
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Reserving a Condo: Up-front Payment Requirements
In July, more than 100 Austin condo buyers reserved units in projects such as the Austonian, the Four Seasons, and the W Hotel & Residences. All three of these projects have one thing in common: they are currently empty lots. Actually, in the case of the Four Seasons Residences, the building site is currently a…