Austin, TX Real Estate News

By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Ross Dress for Less is reported to have just bought the many of the Albertsons buildings and are expected to fill the stores as soon as possible. Due to a recent buy out of Albertsons by CVS Corp, many of the stores abruptly closed and subsequently have remained boarded up, vacant and frankly quite an eyesore.Although, I admit that seeing a discount clothing store in some of these locations may seem odd, anything is better than being vacant. PLUS, it will add more retail jobs!Yeah for Austin's continued growth!All of the stores however were not bought and according to the Austin Business Journal, " A spokesman for Ross said no specifics were available on store locations. Ross said it will take possession of some of the stores as soon as next month, and begin converting them into either ...
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By Sam Chapman
Austin is a pretty stable place.  I'm not talking about the real estate market, but weather and geology.   Austin is far enough from the coast so hurricanes are just wind and rain events if they blow in across us.  Austin is far enough south so we're technically below the southern end of Tornado Alley.  Yes, we get storms, but tornados tend to be weak and don't touch down often.  The main damage is from wind, hail and flash flooding.  Austin is also far enough south so ice and snow are rare.How about the heat?  Yes, it does get warm here, but it isn't often that we're over 100 degrees.  Summers tend to be long and we feel the heat (above 85) from April thorugh early October.  Winters are mile, with not many days of freezing temperatures.  Having said that, we can have extremes here, but...
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By Scott Turner
(Turner Residential)
Every once in a while I stumble across something that makes my life so much easier! Today I found "Hello Austin". This is an online site that has all of the info you could possibly want to know about Austin, Texas. (Restaurants, weather, music, art, where to shop etc.) This is the absolute best thing for clients who are relocating. They even put together this great little pdf with a enormous amount of info that I can email to clients. http://www.helloaustin.com/PDF_Files/AustinTX_Brochure.PDFThen, after tooling around on the site I realized that they do 550 different cities and 7 continents. Go to www.HelloMetro.com and see if your city is on there.
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Here is my monthly update for the Austin Area's Appreciation YTD by MLS Area.  Sep-06 MLS Area Appreciation YTD FC 46% BU 26% WE 26% 8W 25% 6 24% 5 24% LL 18% 5E 18% WW 18% LC 17% OT 16% 1B 16% CC 15% W 14% TC 13% 4 12% SV 12% SW 12% JA 11% 8E 11% 3 11% 3E 10% 10 10% 2 10% RN 10% HH 10% LS 9% 11 9% 1A 9% LN 9% 2N 9% 1N 8% SE 8% PF 8% BA 8% HD 8% RR 7% GT 6% HW 6% N 6% CL 5% SC 5% MA 5% BW 5% HU 4% 7 4% NE 3% NW 3% EL 0% LH 0% 9 -2% HS -3% BL -0.051413939 GP -0.258454106  In the month of Sept we are beginning to see the first signs of some slowing down in the real estate market as there were 122 more new listings in Sept 06 compared to Sept 05, but 4 less solds. This still does not point to a buyers market just yet as we had 326 more PENDING HOMES than the same month a year ago.My person...
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
I like to post article having to do with job growth, because to me jobs mean homes. More jobs mean more homes, less jobs mean less homes.Two of the newest announcements are that Panera Bread Company and Tiffany & Company are opening sites in the Austin Area.Panera Bread offers a variety of artisan breads and other specialty breads, along with bagels, pastries, baked goods, and hot and cold espresso beverages. This will be the first Panera Bread in Austin. Some other Specialty Bread companies haven't faired very well in the past, though, including Atlanta Bread Company, but the location of the Panera Bread coming to the Bee Caves area will give it the best chance of survival. Tiffany & Co. is a luxury jeweler and the company says that the new Austin store will offer its own signature col...
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Texas sponsors a womens conference every year. I've been to the last 3 and can say that they are incredibly useful and full of great content, education and motivation/encouraging speakers.  They are always held in Austin TX. This year's conference is being held Oct 12th.  Although there are some men, I'd guess that 95% of the attendees are women. The educational seminars are informative - they usually have several different tracks depending on your interest.  Unfortuantely this year's event is sold out - but if you really want to go, give them a call and badger them for unused/unspoken for tickets.   http://www.txconferenceforwomen.org/
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
According to a recent report from a market research firm, Residential Strategies Inc, the Austin Area had 17,000 new starts within the past 12 months.A qoute in the Austin Business Journal confims some of my previous blogs on Austin's Appreciation. "While Austin builders are concerned about the housing slow-down reported in other parts of the country, the fact is that, for now, Austin is still a healthy market," says Mark Sprague, partner in the Austin office of Residential Strategies. "Austin did not experience the massive run-ups in house prices three years ago that affected so many markets. As a result, Austin's relative affordability and stability have served it well during the past few months."There are specific pockets of positive new home growth that particularly interest me for ...
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The Week in Review:  September 17 – 23, 2006 (compared to the same week in 2005)New listings were down less than 1% this past week.Pendings up 7.61% Solds up 42.09%.As for Average Prices:  September 17 – 23, 2006 (compared to the same week in 2005)"New Listings" average list price is up 1.42% to $269,111.  Sold average sales price increased 1.56% to $213,199.In 2005 it was $209,931 during the same week.The Month in Review:  August 2006 (compared to the same month in 2005)New listings are up by 6.76%.Pendings increased by 16.87%Solds decreased by 1.99%.  As for Average Prices:"New Listings" average list price is up by 7.92%.Sold average sales prices increased 12.12% to $236,348 compared to $210,806 in 2005. Statistics provided by Alamo Title Co. in Austin, TX.  See more Austin real estat...
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Dell is hiring in the Austin area - not just hiring, but hiring for high paying positions.  By February of next year Dell expects to hire 500 additional engineers in Round Rock.  Round, Rock, a suburb of Austin to the north, absolutely exploded with growth when Dell located its headquarters there.  This new influx of engineers will add to the growth.  This is great news for the Austin/Round Rock real estate market. Highly paid people tend to purchase more expensive homes.
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
AAA (Automobile Association of America) just came out with their top 10 best pet cities for TRAVELERS. So I wondered which cities are ranked as best pet cities for people who actually live there.According to DOGFRIENDLY.COM, these are the top 10 Vancouver, British Columbia, Canada-San Francisco, CAChicago, ILBoston, MAAustin, TXSeattle, WANew York, NYLong Beach (LA area), CASt. Louis, MONorthern Virginia (DC area), Virginia Citysearch.com has a section for just about each city that allows you to find the best "pet friendly" hotel within that city. Here is the AAA list:  No. 1: Houston No. 2: San Antonio No. 3: Austin No. 4: Albuquerque, N.M. No. 5: Phoenix No. 6: Dallas No. 7: New York No. 8: Orlando, Fla. No. 9: Nashville, Tenn. No. 10: Tucson, ArizOOO, look at all those TX towns!!!!!  
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Quick! Buy a Hybrid Car fill the Tank with gas and drive out to TEXAS on 1 Tank. When you get to Texas fill it up again so you can make it through the state...when they say "great" state of Texas, that means BIG!!Then find an energy efficient house (preferably in Austin, call Robert Rees Realty, the 3 R's of Real Estate, where every transaction should start with us) then call TRAVELER's INSURANCE to get a discount on your car insurance!That's right, according the Austin Business Journal, " Travelers, an automotive insurance company owned by the St. Paul Travelers Cos. Inc., said Monday that the firm will reduce premiums 10 percent for Texas drivers that buy hybrid vehicles."The City of San Antonio has a one-year pilot program that allows hybrid owners to park for free at parking meters!...
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By Sam Chapman
If you look at real estate in the Austin, TX area, you will see a trend that is not following the national average.  As markets like south Florida, southern Californina and Phoenix have slowed, Austin has heated up.The 5 county around Austin is adding jobs at a healthy pace.  Our unemployment rate the last time I checked was around 4.2%.  That is very healthy.  In addition, because of our climate, location and quality of life, people are buying second homes here as well as retiring here. Why?The average price for a single-family home sold in the Austin area in August was around $244,000.  The median price of a sold home was about $182,000.  Compare these numbers to what we saw in markets that were hot a year ago.Some people know that Austin is also where the Central Texas Hill Country s...
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
An LA development firm just bought 20 apartment complexes in downtown Austin. The plan on fixing them up to help them perform better. The key outlook for OTHER investors to learn from here stems from what one executive from the purchasing company said. "We look for markets that are improving, that are turning around from an event that happened previously that had negatively affected the market," the executive says. "We see Austin coming back and we're definitely bullish on that market.Taking a look at previous posts, you can see that trend is backed by additional jobs, angel investors, and better infrastructure. Don't be fooled however, there is still plenty to buy up in the Austin Area... just beware of Texas' high property tax particularly when looking at Single Family Dwellings. The ...
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
It was reported that Behringer Harvard sold nearly six acres that are part of its Lakeway Resort and Spa west of Austin. The developer plans to construct 70 condominium units on the property. Owners of the new condominiums will be offered an opportunity to partner with Lakeway Resort and Spa to offer their units as additional lodging accommodations for Lakeway guests. Behringer adds that the sale and planned redevelopment associated with the hotel property is "another step in our plan to make Lakeway Resort and Spa again one of the Southwest's preeminent resort destinations and corporate conference centers."Lakeway, an already popular suburb town of Austin, has one of nicest Spa Resorts around, being recognized nationally via Spa related magazines, Travel + Leisure & Spa Finder. Travel ...
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
View MLS Map HERE or email me for one. Email me for past month's stats as well.Aug-06MLS AreaAppreciation YTDFC58%OT41%WE29%528%8W22%BU20%5E20%LC18%W18%CC15%RN14%414%1A13%613%2N13%1B12%212%8E11%711%SW11%JA10%1010%TC10%LS10%1N10%310%3E9%N8%HH8%GT8%HW7%LN7%BA7%BL7%117%NW6%RR6%SC6%WW6%HS6%BW6%PF5%LL5%SV5%CL5%HD4%LH3%HU3%MA3%SE2%NE1%EL0%GP0%9-0.049019608
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Opportunity Austin is an economic developement that was to bring 72000 jobs to the local area. Since the end of 2003 they have been key in bringing in 51000 jobs thus far.They were instrumental in getting 76 companies have relocated to the region only 24 short of their goal in half the time! Some of that job growth was "recovery growth" being that between 2000 and 2003, the region lost 3.7 percent of its work force, or 25,000 jobs. Even with the loss of that workforce Austin continued to have a lower unemployement rate than most major markets and the national avg. A large part of that job loss was due to Austin's lack of Job Diversification. When Tech busted, so did Austin's work force. This time around, diversification is the strategy. Healthcare has already grown significantly, engine...
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Just as I've reported in past blogs, Central Texas is determined to increase the healthcare industry in this area. Central Texas' healthcare industry leaders contributed $8.8 billion to the local economy, leading to new opportunities and the need to expand the industry, according to a recent report.The primary medical sector directly accounted for 5.7 percent of the area's job base last year. The national average, the report says, is 7.1 percent. If Austin would match that number, the report says the city would create an additional $2.3 billion in output, $820 million in earnings and 22,175 new jobs.New Hospitals are planned or being constructed as we speak in Cedar Park and Round Rock. Round Rock particularly has a large focus on Healthcare Development. With a new Scott & White Health ...
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Austin's new toll roads will open to traffic on Nov. 1 -- a year ahead of schedule, according to the Texas Department of Transportation and under budget!Austin has traditionally had unusually high traffic congestion for a city of its size, and the 40 plus miles of extra road way will surely create some relief. In the past, there was a lot of opposition to adding roads in an effort to maintain the same ecosphere for the environment, as well as to keep Austin having a "small town" feel to it. Unfortunately for everyone wishing any of these two ideals, Austin became more than just a college town that got heavy traffic only during State Congression Sessions. Primarily due to the emmergence of the technology industry and DELL's headquarters, jobs and business began to sprout, bringing in mo...
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By Scott Turner
(Turner Residential)
Circle C Ranch is is one of the most sought after neighborhoods in the Austin, Texas area. It is only about 10-15 minutes from the hustle and bustle of downtown Austin, and it's 4000 acres of beautiful treed land makes you feel like you are in the country.Circle C also is home to one of the most beautiful golf courses around. (Voted in the top 20 of Texas golf courses.) http://www.thegolfclubatcirclec.com/page/101-2512.htmAdd to the ammenities a gorgeous heated pool that is open year round to residents, and within close proximity is Austin's Veloway. The Veloway is the perfect spot for you "outdoorsy" types. It is a 3.1 mile paved loop through Austin's beautiful hill country and parkland. No cars allowed!Prices in Austin's Circle C area range from the upper 200's into the millions for n...
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By Scott Turner
(Turner Residential)
Austin's robust housing market is doing just fine! There are less homes for sale however, (listings down 7% from last year) and prices are rising. The average Austin median home price is $172,480. Austin has yet to catch up with the rest of the US as far as home values are concerned, and that makes it a great place to invest. Many people are doing just that. I get calls every couple of days from eager California investers looking to grab a piece of Austin paradise before the secret gets out!The Austin area will add 20,800 jobs in the next 12 months, a 2.9 percent growth rate, compared with a 1.5 percent rate nationally. ( The state of Texas itself is at the top of growth for the nation, and Texas is at the top of growth within it's own state.)Austin is one of the few markets left with a...
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