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 sit
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09/13/2007
AustinTowers posts news and analysis on the downtown condo market 3-5 times every week. If you use Google for search, we've made it easy to add our news feed to your google home page. Simply click on the "Add to Google" button on the right and you will be directed to Google to create an iGoogle
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09/13/2007
While dozens of high rise condo projects rise from the ground in downtown Austin, interesting condo developments are also nearing completion in other parts of the city. One notable project is the SoCo Lofts which is nearing completion in the red hot South Congress district. This 69-unit condo de
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09/13/2007
The W Hotel & Residences continues to make progress. They are now actively selling units ad have completed nearly 200 meetings for the 206 planned units in the 36 story tower. Supposedly, they have taken firm reservations for somewhere between 20-35% of the units. The W is offering 19 different
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09/13/2007
Every now and then, someone takes all of the fancy models of new condo projects, shrinks them to their proportional size, and lines them up in there approximate position in the sky. While not perfect, this latest attempt is up-to-date with most of the recently announced projects. When shown this
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09/13/2007
As predicted, Monarch has officially announced that they are switching their project from all-rental to all-condo. This is big news, It's indicative of both the hot condo market and the weakness of the high-end downtown rental market. The 29-story building at 805 West fifth street, is located ju
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09/13/2007
We recently confirmed with the developers that 80% of the Four Seasons Residences on floors 14-32 have already been reserved after just 6 weeks on the market. As a result, they have now opened the lower floors - floors 6 to 13 -- for reservations. Prices for the 166 unit-project start at $400K an
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09/13/2007
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 r
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08/13/2007
Over the last few 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 t
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08/13/2007
As we have written before, one of most common questions asked by first time condo buyers -- especially in Austin where the popularity of condos is rapidly on the rise -- is how much individual buildings charge in monthly condo fees. Condo fees fund the daily operations and maintenance of most co
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08/13/2007
