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Austin, TX Real Estate News

By Eric Olson
(Sky Realty)
The downtown condo market is really taking off with highrise projects all over.  The skyline is changing with these high end places.  Some are going for well over a million.  For the Austin market this is high dollar. In relation to other parts of the country I guess its reasonable.  Check out the pictures of the projects.
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By Eric Olson
(Sky Realty)
1031 Exchanges which are also called tax deferred exchanges. This means the tax basis from the sale of a property is not eliminated but carried over to the property that is purchased. Tax deferral benefits of exchanging are only allowed on investment property but Section 121 of the code has a permanent tax deduction that can be taken on the sale of a primary residence. As long as a taxpayer has lived in a property for a total of two years out of the previous five, they can claim a $250,000 deduction ($500,000 for married people) from their income tax. With planning it could be possible to combine these two tax strategies to exclude the capital gains from the sale of investment property. If an exchanger acquires a property, rents it for a number of years, moves into the property as a pri...
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
I'm posting this after receiving a few emails and comments wanting to know more about this builder.Long Story short on this company, based on what I read & what I've talked to them about so far when I met with them:Wilson Holdings is a publicly traded company who's CEO started Capital Pacific Homes, then sold it. He started Wilson Holding to help small builders be able to compete in larger subdivisions. In their efforts they came across Austin based Green Builders, Inc. A small green building company. They purchased an option to buy the company. Recently they exercised that option. Due to a non-compete, they have had to wait until July to start building or even have the intent to build, but they've been trying to line up everything so that as soon as the noncompete expired, they'd be re...
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By Paul D'Arcy
(AustinTowers.net)
 We're thrilled to announce that AustinTowers was featured today on News 8 Austin - our first television appearance! Tune in if you can, it should be running all night!    ****Visit http://www.austintowers.net for a complete guide to all downtown condo projects, real-time condo listings, and the complete unedited AustinTowers Blog****   
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What?  No, it isn't what you think.  What I am talking about is the breaking ground of a 42-story condo tower in downtown Austin next week.  The tower is called Spring and will have 36 floors of condos and the rest for underground parking and retail at street level.  Read more about Spring in Austin.
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By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
According to the Austin Business Journal, Wilson Holdings Inc. has received up to $100 million in credit to create green-building subdivisions. RBC Centura, Franklin Bank and IBC Bank lead the credit facility and have committed $55 million. "We appreciate the confidence that the lenders have shown in the company and the ability to perform on our business goals. This credit facility will allow the company to move forward with its strategic growth plan to bring green homebuilding to the masses," says Clark Wilson, president and CEO of Wilson Holdings. IBC Austin President Bob Barnes stressed the community bank's shared interest in the Central Texas market and a continuing relationship with Wilson Holdings. "We are pleased to be a participant in the new credit facility. As a community base...
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This is your chance to comment on the downtown developments currently being planned? Which three projects are your favorites? If you were buying a unit, which building would you choose? What do you like, what don't you like? Add your thoughts by commenting on this posting below!Here is a list of the current downtown Austin condo projects with links to their complete AustinTowers profiles: New Downtown Condo Projects1155 Barton Springs21c Austin 360 5th & Congress721 Congress AquaTerraAustonianBrazos Place Condominiums Bridges on the ParkCLB Partners (Unnamed)Four Seasons ResidencesThe MetropolitanOrsay Residences at the Hotel Van ZandtSabine on 5thSeaholmThe ShoreSpring Star RiversideW Hotel & Residences Completed Condo Projects5 Fifty Five Austin City Lofts Avenue Lofts Brazos Lofts Br...
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By Paul D'Arcy
(AustinTowers.net)
Interest rates keep going up. Sub-prime lending has been cut back. The rest of the country is watching housing values drop. In Austin, however, it's a very different story. May real estate statistics were released today and the numbers show a surprisingly strong market. According to the Office of Federal Housing Enterprise Oversight, housing prices in Austin are up 10% so far this year. According to MLS statistics released by the Austin Board of Realtors, the average number of days on market in May was just 55 days and the median sales price was $183K. As we've mentioned before, these numbers provide a context for looking at the Austin condo market without providing the complete picture: many condo projects are privately marketed so that the units never hit the MLS and aren't included ...
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By Paul D'Arcy
(AustinTowers.net)
How big is the market for million dollar condos in downtown Austin? Developers are betting that hundreds of buyers are willing to invest $1 million or more on high end units in projects like the Austonian, 21c, the Four Seasons Residences, and in the condos at the W hotel. To get a sense for the competition for million dollar homes and condos in the Austin market, I scoured current MLS listings for homes and condos currently on the market with asking prices above $1 million. Surprisingly, there is an amazing amount of single family home inventory priced over $1 million: Current MLS Inventory by Listing Price $1M + -- 572 Homes $2M+ -- 171 Homes $3M + -- 70 Homes $4M+ -- 29 Homes $5M+ -- 12 Homes $10M + -- 1 Home And how about the Austin condo market? Currently, there are just 9 condos ...
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By Paul D'Arcy
(AustinTowers.net)
It's no secret that housing prices are strongly correlated with employment growth. Demand for homes increases when jobs are created and this demand pushes housing prices up. It's no the only factor -- interest rates are very important as well. But, all things created equal, when new jobs come to town, housing prices go up. Today, the Texas Workforce Employment released the latest unemployment statistics for the state. The news: unemployment dropped to 4.1%. This is very low. In fact, it's lower than the peak of the dot com boom. It's also lower than the peak of the wall street boom of the early 90's. It's even lower than the peak of the Texas oil boom of the 1980s. Believe it or not, the current rate of Texas unemployment is the lowest reading since 1976. And in Austin, the unemploymen...
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By Sky Realty
(Sky Realty)
We are all reading about the problems in the secondary market and foreclosures on the rise. I think many people are failing to realize just how good things can be. There is still a sub prime loan, what left was the stated no doc 100% loans for people with bad credit. So let's take a moment and look on the bright side. There are still sub prime loans, and still FHA and down payment assistance. The opportunity I see with the fall out is chance for lower income and first time home buyers to get good deals on homes. Especially for those who are willing to stay in their homes for quite some time. As the market grew and prices rose the ceiling simply got too high for too many people, people who should have the opportunity to get decent home for a decent price. The difference now and six month...
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By Eric Olson
(Sky Realty)
Austin Texas is a great place to consider if you are an investor.  Prices are low in comparison to the other parts of the country. I have personally invested in the austin market and feel strong about the return I will get in the future.  My web site has more information about flipping properties.  Check out www.buyorsellaustinhomes.com to find out more about this topic.  I moved to Austin Texas after the market in Las Vegas started to slow down.  As most investors will recall Vegas was the fastest growing city in the nation for several years.  Austin has the potential to become a city that is one of the fastest growing in the nation.  Recently I put a home under contract that is in South Austin.  Homes in this area are selling in days in this area. The fast moving market is creating so...
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 Golfers in Austin have a lot of choices where they can play golf and most have communities built up around them.  While my dream is to be able to purchase a home in Barton Creek and play golf every day on the four beautiful golf courses offered through the Barton Creek Country Club,  realistically I know it's not going happen anytime soon...Most of our  incomes is such that we  must seek courses that  fit better into our life style, and there are plenty of courses in Austin, Leander, Round Rock and pflugerville to satisfy our compulsion to play golf.  One of my favorite courses is Avery Ranch Golf Club & Subdivision.  Located on Parmer Lane in Northwest Austin, Avery Ranch is close to everything north! and the homes and the subdivision is layed out beautifully...Plus the golf is superb...
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By Linda Mardi
(AuctionFirst)
Don't miss this opportunity to learn more about how the auction option can help you grow margin/profits in your real estate business. This class covers the basics and based on feedback from other students - is a unique and timely subject matter.  Real Estate Auctions were featured in a recent edition of Realtor magazine published by NAR.  The next class is Thursday July 19th from 9:30-12:30 in Austin TX.  Call 512-255-9502 or email info@auctionfirst.com to RSVP.
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By Jeff Kessler, Broker,CLHMS,GRI
(Austin Homes, Realtors www.OwnAustin.com)
Finally looks like the lakes are opening up this week.  I was wondering what are some of your favorite places on the lake to go.  I really like hanging out at Hula Hut and relaxing.  I am interested in learning more about the lago vista area.  I am looking to buy a condo out there and trying to learn as much as I can.  I hope everyone is enjoying this cool summer here in Austin.Have a great week,J.Get up to 5% cash back on a new home or condominium purchase in Texas see my website for more information.http://rebateontexashomes.com/    
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By Paul D'Arcy
(AustinTowers.net)
The Four Seasons Residences has taken another step forward with the opening of their downtown sales center. Here are the details from the project's profile on AustinTowers.net: Four Seasons Residences98 San Jacinto St. http://www.fourseasons.com/private_residences/austin/index.html Four Seasons Residences 98 San Jacinto St. Completion in 2009 Overview - 32 Floors / 350 Feet - 166 Units - Units from 1000 - 2700 SF - Now a 32-story 166-unit all-condo development. All units have balconies and access to the full range of Four Seasons services and amenities. The project is being designed by legendary architect Michael Graves. Sales Information - Sales Office: 98 San Jacinto, Suite 180 - By Appointment Only - Broker: l Coker & Associates - Phone: 512-422-2600 - Website: http://www.fourseasons...
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By Paul D'Arcy
(AustinTowers.net)
As new downtown Austin condo projects are announced, we add them to AustinTowers. We've just added our 36th project, the new profile is:  Sabine on 5th As always, all downtown Austin condo projects can be found in either the New Condo Project Gallery or the Completed Condo Project Gallery. Please contact us to let us know if we have missed anything!  ****Visit http://www.austintowers.net for a complete guide to all downtown condo projects, real-time condo listings, and the complete unedited AustinTowers Blog****
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By Paul D'Arcy
(AustinTowers.net)
As new downtown Austin condo projects are announced, we add them to AustinTowers. We've just added our 35th project, the new profile is:  21c Austin As always, all downtown Austin condo projects can be found in either the New Condo Project Gallery or the Completed Condo Project Gallery. Please contact us to let us know if we have missed anything!  ****Visit http://www.austintowers.net for a complete guide to all downtown condo projects, real-time condo listings, and the complete unedited AustinTowers Blog**** 
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By Ki Gray, Austin Real Estate
So I have been noticing alot more million dollar houses for sale and selling in the Austin Real Estate market. I decided to run some stats to see what I came up with. So here is what I found. 2004 - 152 houses 2005 - 213 houses 2006 - 341 houses 2007 - 181 houses It pretty interesting we have almost had as many million dollar Austin homes sold so far in 2006 as sold for the entire year in 2007. Alot of this trend is coming from more and more people from the east cost moving to Austin which is driving the demand for these larger more central homes in Austin. We are also going to start see some more million dollar Austin condos coming on the market soon. One of the largest condos in Austin that is in the planning stages The Austonian will have the majority of its units coming in at over 1...
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By Sam Chapman
I have a couple of buyers looking for Lake Travis view or waterfront properries and I am amazed to see old photos still in the MLS that show the lake 40 feet low.  These photos make many properties look terrible.  I just don't understand listing agents who are too lazy to go out and get new phots when the lake is up and looking so great.  Do they really want to sell these homes?  By the way, I expect a comment from Danny!
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