Search Results for: rainey

Downtown Austin Open Houses

Jude Galligan | August 27, 2010 |

downtown Austin open house listings for August 28th & 29th
(Got the wrong week? Click here)

Saturday

904 West Ave, 904 West Condos, 1bd/1ba $193,300 1-3pm [Urbanspace]

Sunday

360 Nueces St, 360 Condos #1103, 1bd/1ba $262,900 11am-3pm [Keller Williams Realty]
54 Rainey St, Milago Condos #Ph05, 3bd/3ba $475,000 2-4pm [Urbanspace]
54 Rainey St, Milago Condos #Ph02, 2bd/3ba $899,900 2-4pm [Urbanspace]
510 W 18th, Chestnut Square Condos #113, 1bd/2ba $259,000 1-5pm [Capital City Sotheby’s Realty]
360 Nueces St, 360 Condos #3011, 2bd/2ba $575,000 1-3pm [Urbanspace]
904 West Ave, 904 West Condos, 1bd/1ba $193,300 1-3pm [Urbanspace]

Expand your home search using DAB’s map-based Austin Property Search

When you’re done with the open houses, you can enjoy an afternoon on Lady Bird Lake by renting a canoe or kayak from at the Texas Rowing Center. Or, dine al fresco at Annie’s Cafe on Congress Ave for breakfast, lunch, or dinner. Make sure to checkout my transaction report from July and discuss with a Realtor who lives and works in downtown Austin.

-Jude

DAB STATS: July Transaction Summary

Jude Galligan | August 5, 2010 |

In July of 2007 we recorded 14 transactions at an average of $353psf.

In July of 2008 we recorded 11 transactions at an average of $289psf.

In July of 2009 we recorded 13 transactions at an average of $267psf.

In July of 2010, we recorded 12 transactions at an average of $314psf!!

What insights can we glean from four years of July transaction data? Based on my experience this year, I would say those numbers show that [in aggregate for downtown] a bottom had been reached, and we’re returning to normal where average prices hover around $300psf.

If developers reported sales (they don’t, but if they did), July’s closed Sabine units would nullify the effect of the higher priced closings at the Austonian, Spring, and Four Seasons. Also, at least two of July’s transactions were deeply discounted transactions at Milago and yet the average numbers are still strong.

The market continues to place a premium west of Congress Avenue, as transactions at Austin City Lofts and 360 condos exceed $400psf. Feedback from my clients indicate this premium is a reflection of these buildings’ proximity to a mix of retail uses and to Whole Foods. As inventories of new construction continue to dwindle, the average buyers’ expectations are beginning to come back inline with a healthy resale market.

An example of a great buy in July: Milago #423. A 2bd/2ba corner unit at tree level with city views for $300,000. The seller took a hit on this one and originally paid $382,500. Also, I’m bullish on the Rainey Street District, future improvements to Waller Creek, and the desirability of living near the trail for couples/families.

What does the buyer who prioritizes value do now? Be prepared. Get pre-qualified for a mortgage. Be ready to pounce on the random short sale or bank owned property. I seem to find 1-2 each month. Forget about foreclosure auctions in downtown – they simply do not happen with any regularity, and 99% of the time the bank takes back the property and lists it on the MLS market where they can get closer to market rates. Of course, you can go to the courthouse to see for yourself. Or, you can just contact me.

Registered members of DAB can download a complete statistical and transaction report here.

-Jude

Downtown Austin Open Houses

Jude Galligan | July 31, 2010 |

downtown Austin open house listings for Saturday, July 31st

360 Nueces, 360 Condos # 914, 1bd/1ba $349,800 1-3pm [Urbanspace]
360 Nueces, 360 Condos # 3011, 2bd/2ba $575,000 1-3pm [Urbanspace]

downtown Austin open house listings for Sunday, August 1st

800 W 5th St, Austin City Lofts # 505, 2bd/2ba $499,900 1-4pm [AvenueOne]
54 Rainey, Milago Condos # Ph05, 2bd/3ba $499,900 1-3pm [Urbanspace]
54 Rainey, Milago Condos # Ph02, 2bd/3ba $899,900 1-3pm [Urbanspace]

The “__11” stack at 360 is one of the best 2bd floor plans in that building. Definitely check it out.

When you’re done with the open houses, you can enjoy an afternoon on Lady Bird Lake by renting a canoe or kayak from at the Texas Rowing Center. Or, dine al fresco at Annie’s Cafe on Congress Ave for breakfast, lunch, or dinner. Make sure to download my transaction report from June (registered members only) and discuss with a Realtor who lives and works in downtown Austin.

-Jude

Downtown Austin Open Houses

Jude Galligan | July 10, 2010 |

downtown Austin open house listings for Sunday, July 11th
(Got the wrong week? Click here)

1501 W 6th Street, Villa West #B2, 2bd/2ba $349,888 12-2pm [Urbanspace]
800 W 5th St, Austin City Lofts #909, 1bd/1ba $475,000 1-4pm [Daybreak]
800 W 5th St, Austin City Lofts #505, 2bd/2ba $499,900 2-4pm [AvenueOne]
800 W 5th St, Austin City Lofts #903, 2bd/2ba $599,000 1-4pm [The Boutique]
800 W 5th St, Austin City Lofts #806, 1bd/1ba $425,000 1-4pm [The Boutique]
54 Rainey St, Milago Condos, Penthouse #5, 2bd/2ba $499,900 1-3pm [Urbanspace]
54 Rainey St, Milago Condos, Penthouse #2, 2bd/2ba $899,900 1-3pm [Urbanspace]

It’s an Austin City Lofts open house festival this weekend. When you’re done with the open houses, you can enjoy an afternoon on Lady Bird Lake by renting a canoe or kayak from at the Texas Rowing Center. Or, dine al fresco at Annie’s Cafe on Congress Ave for breakfast, lunch, or dinner. Make sure to download my transaction report from June (registered members only) and discuss with a Realtor who lives and works in downtown Austin.

-Jude