As we continue to try to figure out this fickle market in Austin, we know for sure that two things are true: fewer homes are selling than one year ago, and yet prices continue to increase. For example, in Area 6, which includes centrally located and desireable Travis Heights, SoCo, Bouldin Creek and SoLa, volume decreased by nearly $4million for the month of June, but the average price increased from $389,000 to $425,000, which is really quite a jump. Another example, Westlake/Rollingwood’s volume decreased by 51% from a year ago, and yet average prices jumped from $889,113 to $978,941. As many predict that Central Texas is prime for yet another housing boom over the next 3-5 years, we could see this trend continue, until volume & the overall economy catches up. Read the full story here.
Archive for July 24th, 2008
Existing homes sales continue to fall . . . as prices rise . . .
Published July 24, 2008 Uncategorized Leave a CommentTags: Austin housing market, credit crunch, housing boom, housing forecast
“Housing prices in Austin are generally out of our budget,” Atwood said. “We would have had to move to Pflugerville or way down south … then we found out about Mueller.” Read the full story here.
Special Report : Texas rising as retirement hot spot
Published July 24, 2008 Uncategorized Leave a CommentIt was bound to happen.
Millions of baby boomers, the post-World War II generation that other generations are probably tired of hearing about, are getting ready to retire. And home builders across the nation — and especially in Texas — are gearing up to offer plenty of choices for life after work.
In nearly every retirement study during the past decade, boomers have said they want to be active in retirement; to be close to good medical care; to be close to families; and to be near cities with cultural amenities.
The only problem, of course, is being able to afford such things.
That’s where Texas comes in.
It’s cheaper here. Read the full story here.
Austin considered one of country’s best cities to buy a home
Published July 24, 2008 Uncategorized Leave a CommentLots To Like In The Lone-Star State
Texas dominated our lineup of mortgage-worthy areas. Thanks to a business-friendly tax environment, many large corporations call the Lone Star State home, which creates jobs and tax revenue.
The University of Texas campus provides young blood and research-related jobs to No. 2 city Austin. This state capitol is a hip area on the rise. The vacancy rate has fallen by 37.5% in the last 24 months to just 1.5%, despite a lot of building in recent years. And buying isn’t much more expensive than renting. An average mortgage payment is $1,022.40, and average rent hits $767. Read the full story here.
West 5th to get new office building
Published July 24, 2008 Uncategorized Leave a CommentTags: 5h street development, commercial development Austin
Construction is scheduled to begin today on the first new office building in the downtown area since the Frost Bank Tower broke ground in 2001.
The eight-story building is planned for the western end of West Fifth Street, which is becoming a newly revitalized gateway to downtown. Read the full story here.
