Category Archives: Downtown Condos

Austin City Limits Music Festival 2012

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The Austin City Limits Music Festival began Friday, October 12th as 75,000 people began to enter Zilker Park to the theme from Star Wars.  The ACL Music Festival, now celebrating its 11th year, brings world-wide attention to Austin, Texas as the festival plays host to 130 bands over the course of 3-days on 8 stages.

ACL Music Festival

An estimated 220,000 attendees were at the ACL Music Festival, while many more were able to enjoy the bands from home this year through a live YouTube which covered 2 stages simultaneously, so viewers could choose which act to watch.  Like year’s past, the Austin City Limits Music line-up included something for everyone.  ACL Festival 2012 headliners included: Neil Young and Crazy Horse, the Red Hot Chili Peppers and The Roots.

ACL Festival brings Austin to Center Stage

Austin’s local economy certainly gets a boost during the ACL Festival to the tune of about $73 million which includes revenue from hotels and restaurants.  The Austin City Limits Music Festival supports the Austin economy in the long term as well, by giving out-of-town guests an additional reason to move here and call it home.  Here are some direct pages to specific Austin homes for sale near Zilker Park in the Barton Hills neighborhood, the Central Austin area, condos in zip code 78704 and of course Downtown.

Austin 78704 Condos

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I have been showing many condos lately in and around Austin’s popular 78704 zip code.  78704 condos offer the benefit of living 2 miles or less from downtown Austin, without paying downtown real estate market price tag.  Home of the SoCo, SoLa, and SoFi districts, 78704 provides a variety of unique urban conveniences filled with boutiques, restaurants and entertainment venues.  Outdoor lovers enjoy Austin’s largest playground Zilker Park right in their backyard, along with additional parks that provide plenty of hiking, biking and other recreational opportunities. 

Austin 78704 Condos

Austin’s 78704 Condominiums come in a variety of price points which suit the needs of people who seek the convenience of an urban lifestyle.  Commuters find access to I-35, Mopac and Ben White very easy.  St. Edwards University is also in 78704, so students and parents often find it more cost effective to buy a little condo than live on campus.  78704 Condos come in all sizes, in as little as about 400 square feet.  The smaller condos often make for an affordable apartment alternative. 

One thing to be mindful of with condos is that they need to be FHA approved in order to be an option for buyers seeking an FHA loan.  FHA tends to only grant loans to condos and houses in good condition that meet certain building guidelines.  FHA loans are popular because they require less money down than a conventional loan, so they are often the only option for buyers with little to put down.  Non FHA approved condos can be an advantage for buyers who have enough funds to go the conventional loan route.   There is less of a buyer pool when a house and more often a condo is not FHA approved, because not all buyers can qualify. 

Search for an Austin 78704 Condo

View 78704 condos here.

I have many pages written for specific communities, with more to come. I can also set up a custom search if you have specific criteria.

Moving to Austin

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Moving to Austin? I have selected randam subdivisions in the greater Austin area and listed some current real estate market data. Average Days on Market below 3 months are considered Seller’s markets, because homes are moving quickly. Neighborhoods with homes on the market between 3 and 6 months are considered neutral. As you can see, the Austin Real Estate market is very strong. Buyers are moving to Austin and with interest rates still low…buyers are moving within Austin.

Moving to Austin?
The data below is specific to single family homes. If there is an area you want me to spotlight -please let me know.

Tarry Town (Central Austin)
Number of Active Houses on the Market: 16
Average Days on Market: 80
Median List Price: $ 797,000

Legend Oaks (Southwest Austin)
Number of Active Houses on the Market: 8
Average Days on Market: 52
Median List Price: $ 291,725

Plum Creek (Kyle)
Number of Active Houses on the Market: 37
Average Days on Market: 41
Median List Price: $ 171,827

Great Hills (Northwest Austin)
Number of Active Houses on the Market: 25
Average Days on Market: 51
Median List Price: $ 495,126

Pemberton Heights (Central Austin)
Number of Active Houses on the Market: 6
Average Days on Market: 120
Median List Price: $ 1,687,500

Circle C Ranch (Southwest Austin)
Number of Active Houses on the Market: 22
Average Days on Market: 43
Median List Price: $ 352,400

Downtown Condos (Central Austin)
Number of Active Houses on the Market: 102
Average Days on Market: 82
Median List Price: $ 455,500

Travis Heights (Central Austin)
Number of Active Houses on the Market: 12
Average Days on Market: 64
Median List Price: $ 694,700

Austin Real Estate Market Trends Jan 2012

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Austin is hot and I’m not just talking about the weather, though we did have the nation’s high temperature last week with 92 degrees!   Residential houses in the greater Austin area saw an increased volume of sales, with an increase of 10 percent in January compared to 2011.  According to the Austin Board of REALTORS®, the average time a home remained on the market was 85 days in January, which is eight days less than the same month in 2011.  As I have mentioned inventory is low.  How low? There were 6 percent less new listings added in January 2012, than in January of 2011.   January of 2012 also saw 19 percent fewer active homes for sale and 16 percent more home listings pending.

Austin Real Estate Market Data

The Austin Real Estate Market had 4.1 months of homes for sale in inventory in January 2012, which is 1.4 months less than the same month one year ago.  According to the Austin Board of Realtors, this is the lowest inventory the Austin real estate market has seen since they began tracking months of inventory in 2009.

Austin Real Estate Condo Market Data

Austin area estate sale of condominiums and townhomes are up as well, by 27 percent.  According to the Austin Board of Realtors, the median price for a condo in January 2012 was $159,500, which is 4 percent higher than the same month last year.  Active days on the market were 7 percent longer this year, but 121 condos were sold in January 2012, which is 27% more than January of last year.

Condo Home Styles

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Happy 2012!  I have been showing condos, single family homes and duplexes from Buda to Round Rock. Think you can tell a fee simple house from a condo? Think again. The perception is that you can tell a single-family house or duplex from a condo just by looking at it. Truth be told, there is nothing about the style of a house that dictates its classification.

How a house is classified is determined by whether the land the residence sits on is fee-simple or undivided. If the parcel is undivided, then the structure is in a condominium regime which gives owners partial interest in the land. When a residence is fee-simple the owner has owns absolute title to the land and structure. In a condominium regime, you own the space the unit occupies and only own a partial interest in the common land surrounding the property.

Austin Condominium regimes can come in garden home, townhouses, single family, duplexes and apartment designs. Many have backyards, which can make it impossible to tell by looking, how the property is classified. Fee simple properties are available in the same styles, with the exception of towers. Some people don’t want to live in a condominium regime because they feel too restricted in how they can utilize their backyards. Understand fee-simple home owners still need to abide by city, deed and zoning restrictions. Fee-simple home owners can also be restricted through their home owners associations. Condominium regimes will often let homeowners improve property with patios and other outdoor improvements as long as they get permission first and comply with certain aesthetic guidelines. People are not always as limited as they think they will be.

I searched Austin MLS listings and selected some active properties so show examples of home styles that are classified as condominiums. Click the link here to see the condos

 

Downtown Austin Condo Data

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Austin Downtown Districts

What’s moving Downtown and how are other hot condo areas doing?  I have selected specific condominiums and popular areas in Central Austin to offer some data points. Downtown Austin and the surrounding areas offer great varieties in unit sizes, amentities and styles. There are low rises and hi-rise living options in a variety of price points. The large variety of  locations, styles and price points offer truely something for everyone.

The data below is specific to condominium homes.  

If there is an area you want me to spotlight -please let me know.

Central Austin Condo Market Data

All Downtown Condos
Number of Active Houses on the Market:         81
Average Days on Market:                              109
Median List Price:                                 $ 399,900

Spring Condominiums (Downtown)
Number of Active Houses on the Market:         10
Average Days on Market:                                 85
Median List Price:                                 $ 408,500

360 Condominiums (Downtown)
Number of Active Houses on the Market:            6
Average Days on Market:                                  51
Median List Price:                                 $ 387,000

W Residences (Downtown)
Number of Active Houses on the Market:             9
Average Days on Market:                                138
Median List Price:                              $ 1,149,000

Milago Condomniums (Downtown)
Number of Active Houses on the Market:             5
Average Days on Market:                                   85
Median List Price:                                  $ 339,000

All Condos in zip code 78704
(South of Downtown: SoCo / Zilker area)
Number of Active Houses on the Market:            65
Average Days on Market:                                    96
Median List Price:                                   $ 250,000

All University of Texas Condos
Number of Active Houses on the Market:            44
Average Days on Market:                                  143
Median List Price:                                    $ 208,750

All condos in zip code 78703
(West of Downtown: Tarrytown area)
Number of Active Houses on the Market:             45
Average Days on Market:                                   102
Median List Price:                                     $ 370,000

Zilker Kite Festival

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The Zilker Park Kite Festival celebrated its 83rd year Sunday with little wind, but plenty of fun.  The South Austin event has the honor of being the longest continuous kite festival in the United States.  Thousands turned out for a beautiful day at the park, which proves to be yet another reminder of the wonderful city we live in.

Let’s take a look at the Zilker Park area real estate market, for those who live close enough to walk or bike to the park.

Local Austin Market Data

There are 82 houses actively for sale within a 1.5 mile radius of Zilker Park, which includes part of 4 different market areas.  All of the homes are in the City of Austin, with the exception of one which is in the City of Westlake Hills.  List prices range from $225,000 to $8.9 million.  The median time these homes have been on the market is 52 days and the median price is $537,400.

The same 1.5 mile radius has 114 condominiums actively available for purchase.  That number includes everything designated as a condo, whether it a duplex style, or tower like Spring Condominiums.  Active list prices here range anywhere from $124,900 to $4.9 million.  The median time on the market for a condo in the 1.5 mile radius surrounding Zilker Park is currently 59 days.

Zilker Park is located at 2100 Barton Springs Road and encompasses 351 acres.