Austin News

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…

Central Texas foreclosures are down to their lowest level in four years!

As foreclosures are increasing around the country they are becoming more rare in Austin and the surrounding area.  The real estate market in Austin is very strong right now and that makes it easier for sellers to get out of properties quickly when facing financial problems.  Austin also has very low unemployment - another factor in the low foreclosure rate.

Things are looking good for Austin.  We should see another great year for housing appreciation!

Construction has begun on a new 31-story apartment tower in downtown Austin.

The Legacy@Town Lake is the latest high-rise to break ground amid downtown Austin's building boom. The 187-unit luxury apartment tower is located at the intersection of Rainey and Cummings Street.

The units will be from 650 to 2,900 square feet, and the rental rates are projected to range from $1,300 to $7,000, with the average rent projected to be $2,300.  These units will not be offered for sale at this time.

Legacy@Town Lake’s planned Grand Opening is for fall 2008.

 

A report released by the website HousingPredictor.com notes that Austin and other Texas cities are leading the way in sales and appreciation.  The report mentions that some properties are selling for full price in Austin as well as Houston and Dallas.  Here is the link to the story:

www.webwire.com/ViewPressRel.asp


Give us a call if we can help you Austin real estate.  1-800-790-7910

The Austin Business Journal is reporting that home and condo sales are strong for 2007.  Average prices are up from last year and the market shows no signs of slowing.  Read the story here:

austin.bizjournals.com/austin/stories/2007/05/14/daily33.html

If you are considering buying or selling a home give us a call at 512-344-6000!

A recent story in the Austin Business Journal noted that Austin was in the top 20 fastest growing regions based on the U.S. Census.  The greater Austin area jumped 21% in population between 2000 and 2006.  All of these people need places to live - demand and prices just keeping going up for Austin!  Here is a link to the article:

austin.bizjournals.com/austin/stories/2007/04/09/daily37.html

If you are one of many people considering a move to Austin please give us a call and we call fill you in on the latest with the local real estate market.   512-344-6000

2006 saw a drought that had the Lake Travis water levels down to 40 year lows.  What a difference a few months can make!  We have had a lot of rain in Central Texas!  The Lakes are filling up and the hills are green.

As of May 10th, Lake Travis had an elevation of  672.69 which is .90 feet above the historic average for the month of May.  That is more than 25 feet higher than at the beginning of March!  This is great news for recreation on Lake Travis just in time for summer.

Here is a photo I took of Lake Travis today.  Looking good!