Austin Modern Living.com

Here is a good way to keep up with Austin real estate news from the Austin Statesman and Austin Biz Journals…this URL will update Austin real estate articles from both websites.  Enjoy!

Austin real estate news

Been seeing a lot of national news about Austin’s real estate market being hot/healthy/etc compared to other US cities, here’s a link to a Trulia Pro Real Estate Blog – Austin article.   Honestly, Austin does not have a lot of competition on this list, I mean I could see living in Seattle, but the others:
San Francisco? > hello ridiculous amounts of state taxes
Nebraska? > do what?
Ft. Worth, Houston, San Antonio? > no way, no way, no way

Austin real estate market jumped 23% in November over last November writes The Statesman.  This article mirrors what we are seeing in our own office: buyers who see something they like need to be prepared, act quick and be realistic with offers.  Many sellers are erring on the higher side of the appraisal range and getting their number…especially in closer in urban neighborhoods.  Still, there are some good deals out there if you have some vision.  Good luck buying and selling!

Austin real estate continues to sizzle.  Here is a good article from Shonda Novak at the Austin Statesman:
http://www.statesman.com/news/business/real-estate/austin-home-sales-sizzle-in-august-expected-to-sta/nSLYR/

Austin real estate by the numbers:

Austin real estate by the numbers:
2,397: Number of single-family homes sold in the Austin area in August
$212,000: Median home price, up 6 percent over August 2011
21 percent: Increase in home sales compared with last year’s figure
2,207: Number of home sales pending closure

Austin Real Estate News: Austin Homebuilder confidence reaches 6-year high

http://www.bizjournals.com/austin/news/2012/10/16/homebuilder-confidence-reaches-6-year.htmlAustin Business Journal by Jeff Clabaugh, Broadcast/Web Reporter Date: Tuesday, October 16, 2012, 12:13pm CDT

The National Association of Home Builders said its builder confidence index rose for the sixth consecutive month in October, gaining one point to 41.

Confidence among the nation’s homebuilders rose to its highest level since June 2006.

The National Association of Home Builders said its builder confidence index rose for the sixth consecutive month in October, gaining one point to 41.

Even so, any reading below 50 indicates more builders still view sales conditions as poor rather than good.

“Many builders are reporting increases in the number of serious buyers visiting their sales offices, and the overall confidence measure is much higher than it was at this time last year,” said the association’s chairman, Barry Rutenberg. “The concern is that, even though demand for new homes is rising, overly tight credit conditions are still constraining new building and new purchases.”

The biggest increase in the NAHB’s monthly survey of its members came in measuring traffic of prospective buyers, rising 5 points to its highest level since April of 2006.

An Austin-based homebuilding organization and advertising agency GSD&M are collaborating on a multimillion-dollar national consumer campaign to convince homebuyers across the country to buy new rather than buying a resale home.

Was working on some research this morning and thought I’d share this:  The average sales price for downtown Austin condos for the trailing 12 months 7/20/12 was $451,435 which is a 28% increase.  Part of that increase is from some high dollar closings at The Austonian and The W Austin…there were 5 closings between $2.3M – $2.75M.  Highest price paid for a downtown Austin condo was a whopping $756.53/sf.  Average prices have increased 53% since same period 2005.  Austin condo realtors