Comments on: Downtown Austin Condos http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/ Austin Real Estate Blog Wed, 08 Feb 2012 19:40:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Brian http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-10686 Brian Fri, 30 May 2008 16:12:11 +0000 http://crosslandteam.com/?p=451#comment-10686 I bought a 1300 sq. ft condo downtown for $185,000 only five years ago. It's amazing how fast prices have moved up since then. Prices are high right now, but I'm inclined to believe they'll come down as the downtown supply continues to increase. I bought a 1300 sq. ft condo downtown for $185,000 only five years ago. It’s amazing how fast prices have moved up since then. Prices are high right now, but I’m inclined to believe they’ll come down as the downtown supply continues to increase.

]]> By: Leon http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-10201 Leon Tue, 27 May 2008 16:19:06 +0000 http://crosslandteam.com/?p=451#comment-10201 anonymous, It's a different lifestyle, especially if you work downtown. Even Steve has mentioned that there is a "vibe". The reason is because downtown is the cultural, economic, social and political center of Austin. Also these condos have amenities and views you can't get in a freestanding house. anonymous,

It’s a different lifestyle, especially if you work downtown. Even Steve has mentioned that there is a “vibe”. The reason is because downtown is the cultural, economic, social and political center of Austin. Also these condos have amenities and views you can’t get in a freestanding house.

]]> By: Steve Crossland http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-10192 Steve Crossland Tue, 27 May 2008 15:25:53 +0000 http://crosslandteam.com/?p=451#comment-10192 Well, I think for some people a downtown condo will make sense, for others it won't. For me and my family, at present, it doesn't. As is pointed out, the opportunity cost of owning a condo in downtown Austin is a bit higher in Austin that it perhaps is in other metro areas. By that, I mean that with a 15 minute drive from downtown one can find very excellent suburban living at $100 to $120 per square foot. If it took a 1 hour drive to achieve that, then maybe the downtown condo looks like a better deal. Steve Well, I think for some people a downtown condo will make sense, for others it won’t. For me and my family, at present, it doesn’t. As is pointed out, the opportunity cost of owning a condo in downtown Austin is a bit higher in Austin that it perhaps is in other metro areas.

By that, I mean that with a 15 minute drive from downtown one can find very excellent suburban living at $100 to $120 per square foot. If it took a 1 hour drive to achieve that, then maybe the downtown condo looks like a better deal.

Steve

]]> By: anonymous http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-10182 anonymous Tue, 27 May 2008 14:41:20 +0000 http://crosslandteam.com/?p=451#comment-10182 Leon Fu, I have some beach front property that I'd like to sell you... You can't make a simple apples-apples downtown condo comparison between cities without understanding the economy and the norms for a city. 500k is quite a bit of money in Austin, considering home prices, and will get you a very nice freestanding home within a few miles of these condos. Austin doesn't have an established public transportation system (but its in work) or lots of cabs. Leon Fu,
I have some beach front property that I’d like to sell you…

You can’t make a simple apples-apples downtown condo comparison between cities without understanding the economy and the norms for a city. 500k is quite a bit of money in Austin, considering home prices, and will get you a very nice freestanding home within a few miles of these condos. Austin doesn’t have an established public transportation system (but its in work) or lots of cabs.

]]> By: Leon Fu http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-9446 Leon Fu Sat, 24 May 2008 15:19:39 +0000 http://crosslandteam.com/?p=451#comment-9446 Being from the northeast (NJ/NYC), $500K for a downtown condo is cheap. In northern NJ, $500K buys you a not so nice starter home in a far away suburb. Besides, the prices seem comparable to downtowns in other cities... Being from the northeast (NJ/NYC), $500K for a downtown condo is cheap. In northern NJ, $500K buys you a not so nice starter home in a far away suburb. Besides, the prices seem comparable to downtowns in other cities…

]]> By: Michael @ The Stage Coach http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-9285 Michael @ The Stage Coach Fri, 23 May 2008 17:10:39 +0000 http://crosslandteam.com/?p=451#comment-9285 I agree - tempting but not practical. We did some 'urban pioneering' up north. After our first daughter was born, it was not nearly as fun any more. There was some excitement to being awaken in the middle of the night every once in a while, calling 911, and waiting for the police to arrive. But that ended when waking up several times a night became an every day thing. Plus, there are lots of other critters less desirable than Scorpions and Chiggers. Scorpions do not ask for change or urinate in between cars. It's easier to protect the girls from the little pests than the bigger ones. :) I agree – tempting but not practical. We did some ‘urban pioneering’ up north. After our first daughter was born, it was not nearly as fun any more. There was some excitement to being awaken in the middle of the night every once in a while, calling 911, and waiting for the police to arrive. But that ended when waking up several times a night became an every day thing.
Plus, there are lots of other critters less desirable than Scorpions and Chiggers. Scorpions do not ask for change or urinate in between cars. It’s easier to protect the girls from the little pests than the bigger ones. :)

]]> By: Tim http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-9051 Tim Thu, 22 May 2008 15:04:57 +0000 http://crosslandteam.com/?p=451#comment-9051 "All the product on the way probably doesn't oversaturate the market. ...However, it's clearly too much to bring online all at once." That is my new real estate koan. “All the product on the way probably doesn’t oversaturate the market. …However, it’s clearly too much to bring online all at once.”

That is my new real estate koan.

]]> By: Steve Crossland http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-9044 Steve Crossland Thu, 22 May 2008 13:52:53 +0000 http://crosslandteam.com/?p=451#comment-9044 Thanks, that (no scorpions) would go into the plus column for sure! Probably no chiggers either. Steve Thanks, that (no scorpions) would go into the plus column for sure! Probably no chiggers either.
Steve

]]> By: Teddy http://crosslandteam.com/blog/2008/05/22/downtown-austin-condos/#comment-9037 Teddy Thu, 22 May 2008 12:48:45 +0000 http://crosslandteam.com/?p=451#comment-9037 No scorpions downtown.... No scorpions downtown….

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