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Austin, TX Real Estate News

By Tricia Jumonville, Texas REALTOR , Agent With Horse Sense
(Bradfield Properties)
The 2007 Austin City Limits Festival is this weekend and is in full swing right now.  There was a dramatic moment when the explosion of a couple of propane tanks set an RV (and many surrounding items) on fire, injuring 4 people, two critically enough to be sent to the Burn Center in San Antonio.  But the music never stopped. Blogs being what they are, of course, people are blogging about the Festival even as it's going on.  Here's an assortment of views of this year's event, as well as some news reports about the event.  Many have photos.So, for those of us who can't for whatever reason actually attend the festival, here's a little second-hand participation.  Enjoy!Drenched in Blog (based in Houston)The Daily TravelerNorbiznessJigsawJoeyTexas OasisSRV and Double Trouble HonoredSara Hick...
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I don’t know if you’ve noticed— it’s certainly hard to miss— but the landscape around Austin is changing. As is the skyline. As is the... well, the feel of the city. The flavor. Some Austinites are not excited about the changes going on. The corporations moving in, the family-owned and operated businesses go down while the thirty-six story condos go up. People who have lived here all their lives (or even just more than ten years) say that this is a different city than the one they remember. Back when they might not even have called Austin a “city.” There was a time when Motorola was just a type of phone people had, not a place where they worked. When video games were a thing people played, not designed. Where Dell was a thing from a song about a farmer, not a computer company. In short,...
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By Jessica Bruehl
(JKB Realty Group)
  Has this happened to you?  "Take Capital of TX of Highway until it hits Mopac then take the Enfield exit."  Then you find out that the signs do not correspond with the names you've been given because Capital of TX Highway is 360, Mopac is Loop 1 and Enfield is 15th.  Why is it that US 183 and RM 2222 each have 5 names, none of which give you any idea what part of the road you're suppose to go to.  My personal favorite is there 5 miles between 290 East and 290 West.  How are they even considered the same road at that point?  I think it's the roadway gremlins having a little laugh at our expense.  But really, we all get the hang of it after being late a few times.  Below is a handy little cheat sheet for all of our new Austinites.  And, if you ever get lost, give us a call 512-263-6737 ...
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By Ronnie Bredahl
(Austin Referral Realty)
Circle C Ranch Circle C Ranch is located in Southwest Austin, Texas and lies on the eastern edge of the Texas Hill Country. As one of the largest master planned communities in the State of Texas, Circle C Ranch has over 3,700 homes spread out over 4,000 acres. It was first developed in the mid 1980's by developor Gary Bradley. The project wnet into bankruptcy during the savings & loan scandal a few years later. Bouncing back in the mid 1990's, Circle C Ranch has become a very successful community for home builders, yet residents still enjoy many green areas that have been conserved. Amenities include 450 acres of dedicated parkland, Metropolitan Park, hiking trails, disc golf course, Circle C Golf Club, Olympic-sized pool, The Veloway (a 3.2 mile rollerblading and biking course), basket...
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By Paul D'Arcy
(AustinTowers.net)
AustinTowers was recently featured on the 10PM news tonight on NBC station KXAN! The story looked at the changes to the Austin skyline and the potential impact of construction equipment shortages on existing projects and condo costs. Watch the story here! Tags: about austintowers  ****Visit http://www.austintowers.net for a complete guide to all downtown condo projects, real-time downtown Austin condo listings, and the complete AustinTowers Blog****
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By Paul D'Arcy
(AustinTowers.net)
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 very busy hotel parking lot. In the current hot condo market, top projects will sell out before the first ceremonial shovel of dirt is removed from the lot. In these circumstances, buyers will be required to pay deposits years before they will be able to occupy their newly selected home. The deposit requirements vary widely among projects. Typically, buyers will be required to pay between 3% and 10% of the purchase price of the unit in order to execute a sales contract. The proj...
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By Paul D'Arcy
(AustinTowers.net)
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 search page like the one below, to add AustinTowers to an existing iGoogle page, or to add AustinTowers to Google Reader. Once added, you'll see our latest headlines whenever you visit your iGoogle page to conduct a web search. If you later change your mind, it's easy to remove the AustinTowers feed or to revert to a basic search page. As many of you know, you can also subscribe to the AustinTowers feed on this site by simply clicking the Orange RSS feed buttobn on the sidebar or by following th...
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By Paul D'Arcy
(AustinTowers.net)
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 development with ground-floor retail is located near Saint Edwards University. By building outside the core of downtown, the project has been able to hit a price point that is much lower than any current downtown project. With 616 SF units starting at $169,900 and 2-bedroom units starting at $289,900, the project is at least 25% less expensive than the new downtown projects. The SoCo Lofts are not alone: a number of interesting projects are currently under development on South Congress, South Lama...
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By Paul D'Arcy
(AustinTowers.net)
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 floor plans ranging in size from 644 to 3,779 square feet. They have launched a new website which includes all of the floor plans: http://www.block21residences.com/plans.asp. The project is located in the heart of the second street district directly behind city hall. The modern W brand is popular and should fare well with a young, affluent audience. Here is a new image of a model of the planned building:   ****Visit http://www.austintowers.net for a complete guide to all downtown condo projects,...
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By Paul D'Arcy
(AustinTowers.net)
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 way, it is amazing to think that the skyline in 2010 will essentially be all new. Here is the image:    ****Visit http://www.austintowers.net for a complete guide to all downtown condo projects, real-time downtown Austin condo listings, and the complete AustinTowers Blog****
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By Paul D'Arcy
(AustinTowers.net)
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 just a block from Whole Foods. The buidling, which is less than a year away from completion, will feature 305 units from 681 square feet to 3,530 square feet and priced from the low $200,000s to $1.65 million. Here is the sumary from the Statesman: Developers of the Monarch, a 305 unit residential tower under construction on West Fifth Street, have decided to switch the project from apartments to condominiums . . . Officials with ZOM Texas Inc. said their investors this week approved the decision ...
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By Paul D'Arcy
(AustinTowers.net)
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 and top out at more than $4 million. This is great news for the downtown condo market. One of the big mysteries has been how strong the demand would be for super-luxury projects such as the Four Seasons and the Austonian. While they are only reservations, the high level of interest is very encouraging. This is especially amazing given that the project has not even broken ground! As for the lower floor units, the sizes range from 806 to 1,815 square feet with prices starting in the $400s. Amenities...
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By Alan Kirkpatrick, Alan in Austin
(Austin Texas Homes)
  Since I was a little boy I have been a Dallas Cowboy fan. No apologies. I grew up playing football in Arizona and dreaming of being good enough to get drafted by the cowboys. The main reason I liked the cowboys was.....   because they had great players. I have had the chance to attend two games in Texas Stadium. While in Arizona I attended several cowboy games. There are tons of cowboy fans in Arizona and all over. No matter who you root for in the NFL isn't it great to have the season started? Here are a few pictures taken with my camera phone from a pre-season game against Denver this year.   Here is wishing your favorite team a great year until they play the Cowboys that is. Nothing greater than NFL football!! How did we ever live through the off season.                            ...
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Isn't that just the kind of headline you see all over the place these days?  The only thing that plunged in Austin the week referenced below was the number of pending sales.  Is a week representative of the overall health of any market?  Of course not, but Austin appears to be holding on pretty well.September 1 - 8, 2007(compared to the same week in 2006)New listings up 7.19%.Pendings down 24.16% Solds up 26.07%.As for Average Prices: Sept 1 - 8, 2007(compared to the same week in 2006) The "New Listings" average list price increased 13.50% to $323,904.  In 2006 the new listing average sales price was $285,372.Sold average sales prices increased 22.45% to $274,896.  In 2006 it was $224,493 for the same week.Stats provided by Alamo Title Co.
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By Alan Kirkpatrick, Alan in Austin
(Austin Texas Homes)
 Here are some commercial finds in the central part of Texas that are very interesting.Multi Purpose Investment Great Cash Flow OpptyGeorgetown, TXThis investement commercial property is for sale, the business is the tenant. 1/2 acre of land at Hwy 29 and CR 106, Body shop is 1900 sq. ft.,... Status: ActivePrice: $397,500 Bldg. Size: 2,600 SFCap Rate: 11.50%Primary Type: Vehicle RelatedCentral Austin TriplexAustin, TXGreat Triplex in Nice Subdivision. Last Investor Price Point in Area 2. Great Potential for Condo Conversionas potenital exit strategy. Always... Status: ActivePrice: $334,900Bldg. Size: 3,250 SFUnits: 3Cap Rate: N/APrimary Type: Duplex/Triplex/FourplexWoodlawn ApartmentsSan Antonio, TXAlso available as a package deal with listing number 15167163.All units rent at $635 per ...
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By Alan Kirkpatrick, Alan in Austin
(Austin Texas Homes)
          Austin is the home of great live music. Once thought only to feature blues and country music, Austin has a diverse music culture. Click below and listen.                                                                                                                                           "Austin's music scene has expanded far beyond Sixth Street, resonating throughout the entire community.  Live music plays from stages at Austin-Bergstrom International Airport, in the parks, on the lakes, from the Warehouse District and at landmarks along South Congress Avenue.  The Austin CVB Music Office can help you experience the "Austin sound" by booking live music for your event." (Austin CVB)Even City hall has gotten into the act. Live bands can now plug in and play in a small open a...
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By Jason Crouch, Broker - Austin Texas Real Estate (512-796-7653)
(Austin Texas Homes, LLC)
  As the broker and owner of a company with almost 20 agents, I have mulled over the topic of buyer's representation agreements with fellow brokers and Realtors for years.  Not to toot my own horn (well, maybe a little), but I have represented buyers in almost every area of Austin and central Texas, in every conceivable price range (from a $15,000 lot to a $4.1 million ranch property).  I typically represent more buyers than sellers (probably 75% or so).    So, you are probably wondering, how does Jason present his buyer's representation contracts?  I'm guessing that if you aren't wondering this, you probably wouldn't have made it past the title of this post.  Well, the short answer is: I don't.  You heard me right.  I have never made it a habit to require someone to sign a document to ...
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
In Windridge 5 homes sold during the first 8 months of 2007 for an average price of $380,800 which was $152.26 per square foot.  Last year through August, 7 properties sold averaging $372,521 which is $131.22 per square foot.  This represents a 2% increase in price.Currently there are 2 homes on the market for an average price of $351,500 - or $143.06 per square foot.Mary "B" - Austin Real Estate
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
In Barrington Oaks 32 homes sold during the first 8 months of 2006 for an average price of $184,342 which was $99.81 per square foot.  This year through August, 25 properties have sold averaging $213,165 which is $115.54 per square foot.  This represents almost a 16% increase in price, which is most impressive.Currently there are 8 homes on the market for an average price of $247,918 - or $123.77 per square foot.Mary "B" - Austin Real Estate
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By Mary "B" Battaglia, GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent
(Coldwell Banker United (referrals welcome!))
In Oak Forest, 34 homes have sold during the first 8 months of 2007 for an average sales price of $261,249.  This represents $131.61 per square foot.Last year through August there were 30 homes sold at an average sales price of $249,252 which reflected a price per square foot of $123.70.  This represents an increase of about 5% over last year.Currently there are 9 homes on the market for an average price of $282,722 - which is $143.81 per square foot.Mary "B" - Austin Real Estate
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