From the monthly archives:

May 2006

Austin Blues Legend Clifford Antone Dies

May 24, 2006

When I moved to Austin in 1985, it wasn’t long before I found myself in Antone’s blues club on Guadalupe Street north of the U.T. campus. I’d never been in a live music club like it before, there was something special about it. I loved that place and I loved the music. I even met [...]

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Austin Sales Market Stats for April

May 23, 2006

April stats are below. Same story as all year thus far. Inventory is shrinking, prices are rising. It’s a stead climb, not a ‘boom’, but there are within the market certain areas that are booming, and showing very strong sales. I’ll try to post a breakdown of MLS areas later this month when I get [...]

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Why We Advise Against Buying in Austin 4Plex Neighborhoods

May 22, 2006

I often receive inquiries from investors who are dead set on achieving the best cash flow possible from the property they purchase. This is shortsighted, in my opinion, and often leads the buyer to consider 4-plexes in Austin, which I mainly advise against. In fact, unless the 4-plex happens to be situated in a quality [...]

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Home Sizes Likely to be Further Limited in Austin

May 21, 2006

This is from last week’s Austin Statesman. Proposed home size restrictions are more restrictive than the temporary restrictions currently in place under the building moratorium. I have mixed opinions about this sort of building limitation. In general I think the limitations are OK if the policy allows for a reasonable exception or variance in those [...]

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Do Buyer Agent Bonuses Help Sell a Home?

May 21, 2006

I just received a voicemail message from the listing agent of a home I previewed a couple of days ago for one of my out-of-town buyers. The message from the agent was “just want you to know that we are now paying a $2,000 Buyers Agent Bonus on a full price offer!”.
Does this motivate me [...]

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Austin Leasing Update – April 2006

May 16, 2006

The Leasing Market in Austin is still holding steady, with minor gains over April a year ago. Property Managers I talk to tell me they are starting to increase rents very selectively in some of the stronger areas closer to downtown, and with some of the better homes. This is still a renter’s market, but [...]

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NEITHER HIGH GASOLINE PRICES NOR HIGHER INTEREST RATES . . .

May 12, 2006

This is from the TX A&M Real Estate Center Online News. If you want to stay on top of general Texas real estate and business news, subscribe to the RECON. You’ll receive an email digest of Texas real estate and business news once or twice a week.
In the one I just received, this story below [...]

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Avery Ranch (North…Austin?) vs. Circle C Ranch (SW Austin)

May 9, 2006

In response to my last post about Circle C being a hot area, a blog reader posted the following question:

Hi Steve!
Why is Area SW so hot? It just seems to me most of Austin has develop towards the northwest area toward the Cedar Park/Round Rock area. There seems to be more shopping, major employers, and [...]

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Circle C Ranch in Austin – Sales Are Strong

May 8, 2006

When one of my buyers closed on a home in the older section of Circle C Ranch for $192,000 last March, I told him he might have purchased the last home that will ever sell for less than $200,000 in Circle C Ranch. So far, my prediction is holding true. Prices in Circle C are [...]

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Austin Relo Buyers Purchasing Years in Advance of Move

May 8, 2006

I’m seeing an increasing number of hybrid investors, mainly from California, who are purchasing a home in Austin in which to live, but they don’t plan to move here for several years, so the home is initially rented to a tenant. These buyers want to cash in on their home (which has become a winning [...]

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