October 2007

The Monarch is a 29-story luxury high-rise condo that will be located on West 5th Street, less than one block from Whole Foods and the hike and bike trails.  The project was initially planned as a luxury high rise apartment building that would only offer rental units, but just recently the developers have decided to sell them as condominiums instead.

The Monarch will have 305 residential units and over 9,000 square feet of street-level retail.  Residences will range in size from 680-3,500 square feet, and prices should range from the mid $200k's to almost $2 million.  This should be a hot property when it is completed in 2008.  If you are interested please contact us for floorplans and pricing.  1-800-790-7910

 

Austin, Texas is a great place to live.  The national media has been giving Austin lots of recognition the last few years.  Here are some of the highlights -

• Austin ranks 2nd among the 10 Best Places to Live judging on financial, educational, and quality of life criteria by Money Magazine, July 2006
• Austin ranks as the 3rd Smartest City in the country by BizJournals.com, June 2006
• Austin ranks 2nd  among the "50  Best Places to Live" by Men's Journal, March 2006.
• Austin ranks 2nd among the Top 10 Best Big Cities in country by cnn.money.com 2006
• Austin ranks as the 2nd Best Place to Live for Moviemakers by Moviemaker Magazine, Dec. 2005
• Austin was ranked 1st among US cities for "Best Cities for Future Business

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Austin will have a another option for public transportation soon!  The new commuter train line will be called the Capital MetroRail, and the first section is set to open in Fall of 2008.  Sleek new trains will provide service for suburban and central Austin residents.


Capital MetroRail's initial service will run on 32 miles of existing freight tracks between Leander and Downtown Austin.  This should give the Cedar Park and Leander housing market an extra boost as homeowners in that area will be able to commute to and from downtown while using WiFi on the new trains.  Further expansion of the system is planned to begin soon.

If you are interested in finding a home or condo located near the new rail stations give us a call at 1-800-790-7910.













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The Austin, Texas housing market continues to do well despite the lending woes plaguing the rest of the country.  Our market has only seen modest effects from the fallout in the subprime market.  The buyers that seem to be affected are those with poor credit or limited funds for a down payment.  If you have good credit then there are still many good financing options available to you.

In other areas of the country foreclosures are skyrocketing, but Austin is currently at a seven year low for foreclosure activity.  The local market should remain strong due to the local job growth and the popularity of the city.  In addition to the strong economy, the Austin housing prices are still very reasonable when compared to many parts of the country.   This should…

Austin, Texas Housing Market Update -

The numbers are in for Austin home sales in August, and the single family home median price has risen 6% in the last 12 months!  The total number of sales has fallen slightly, but the prices continue to climb.

The August 2006 the median single family home price was $180,500.  The median for August 2007 was $192,200.  The average home sales price also rose from $241,200 to $258,954.  The chart below is courtesy of the Austin Board of Realtors.

















As of today (10/2/07), there are 11,454 active residential listings on the market. The current range of prices is $19,900 to $13,500,000. The current average asking price is $369,539.

Please give us a call if you need specific neighborhood market info! …