Austin, TX Real Estate News

By Sam Chapman
I read last week that the unemployment rate in Austin is down to 3.8%.  This is as close to full employment as I have seen since the height of the dot com days.  When you consider that about 3% of the work force is unemployable, this is an amazing statistic.  Job growth drives the real estate market.  Austin real estate is still hot.  Go figure...  How long will this continue?  I don't know, but I read a peice in which one economist predicted healthy job growth for 10 years.  He said there will be a dip in about the 5th year, but that the overall health of the Austin market will be very good for many years.  As long as speculators don't do to Austin what the did to Southern California, South Florida and other areas, we'll be in good shape for a long time.
Comments 0
By Chris Oliver
(www.camelotlane.com)
I don't know about you, but if someone offered me a 30% more than I paid for my home, I might do it - even though it is not for sale.  I mean really my home is too small for another kid or more anyway - right?  That got me thinking:  Why not allow people quickly and easily provide the market with the information they need to make that offer that I could not refuse?  It's kinda like MLS for homes not on the market for sale, but could be for the right price.  Now for the patient and the opportunistic amongst us this creates a more efficient market.  With CamelotLane , you can do just that.  Create a profile including pictures and your own commentary without all of the realtor rules and regs about what you can or cannot say. Then have your profile flagged on a city wide aerial shot allowi...
Comments 3
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
According to the Texas Workforce Commission, the September unemployment rate for the Austin-Round Rock area totaled 3.8 percent, down from 4.2 percent in August. This rate is also lower than the September 2005 unemployment rate of 4.3 percent.As I've pointed out in my other blogs, this is due to an effort by San Marcos Municipalities and the City of Austin to increase jobs in within the region. Total nonagricultural employment in the Austin-Round Rock area increased by 3,800 jobs, or .5 percent during the month of September. State and local government employment increased by 2,100 and 1,700 workers, respectively, as universities and school districts continued to add staff for the new school year. Education and health services in the Austin-Round Rock area gained 1,000 jobs over the mon...
Comments 1
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
As a Proud Member of Lifetime Fitness, I am very excited to see that it was just announced that a second location will be opening in South Austin off of Mopac. The 1st location is in North West Austin off of RR 620. Lifetime Fitness Centers all follow the same model and outline (which gives you a sense of deja vu when you are visiting one in another city!). The South Austin location will be no different, in which it will also measure about 110,000 square feet just as the north austin location.  Life Time Fitness South Austin will provide 24-hour access and have more than 400 workout machines. The fitness center will also have free classes, rock climbing walls, five full-size basketball and sports courts, squash and racquetball courts, a dry sauna and free towels and lockers. Along with ...
Comments 2
The Week in Review:  October 8 – 16, 2006 (compared to the same week in 2005)New listings up 2.81%.Pendings down 30.58% Solds down 6.36%.As for Average Prices:  October 8 – 16, 2006 (compared to the same week in 2005)"New Listings" average list price is up slightly by 0.92% to $277,020.  Sold average sales price increased 15.77% to $257,649.In 2005 it was $222,546 during the same week.Check it out at http://www.alamotitle-austin.com/mls_statisticsStats provided by Alamo Title Co.
Comments 0
Developers are planning a new resort in the Wimberley area.  Wimberley is a town in the midst of dramatic hills and has a cool, clear river running through it.  Wimberley is famous for several things.  One is the large number of craft, art and antique stores.  Going along with these is the fact that there seem to be art and craft fairs going almost every summer weekend.  Another thing Wimberley is known for is the Wimberley pie ladies.  I don't know if they are still around, but their pies were awesome.Back to the planned resort...  The developers want to put up homes, a conference center, condos and a few other fun goodies.  Wimberley doesn't have anything like that right now.  It has historically been a very eclectic community.  Many Wimberley area residents oppose the development.  L...
Comments 0
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
A qoute from the recent report is that, "Austin Remained the Strongest of the Top 20 Markets On Every Metric in September"Other notable facets of the report were that there were 17,076 single-family permits in 2005, Autin is the 19th largest market in the country.Reasons for Austin's Market Strengthe were due to strong job growth and investor demand which led to higher traffic levels.Low inventory continues to fuel strong price appreciation. REALTORS in the markets below were surveyed on their opinions ofMARKET TRAFFIC  (T)PRICE TRENDS  (P)& BUILDER INCENTIVES (I) *** THESE WERE THE MARKETS SURVEYED *** Atlanta, Georgia T= Down; P= Down; I= Down Austin , Texas T= UP; P= UP; I= Down Charlotte, North Carolina T= Even; P= Up; I= Down Chicago, Illinois T= Down; P= Down; I= Down Dallas, Texa...
Comments 3
By Sam Chapman
So it is raining today.  What's the big deal?  Much of Texas has been in its worst drought in 50 years.  We had rain in the Austin area about a week ago.  Parts of the area saw up to 3 or more inches.  It was the kind of all day event that has rain actually soaking into the ground rather than running off into rivers and lakes.  I hope the storm of today and tomorrow give us widespread, heavy rain.  The lakes really need it.  Lake Travis, west of Austin, is about 36 feet low right now. 
Comments 2
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
There was a fantastic article in the Austin Business Journal reporting that Federal Reserve Bank of Dallas states that  "Texas' economy remains strong and is continuing to outpace the national economy.Year-to-date employment in Texas through August was 2.7 percent, an increase of 177,300 jobs. This is more than twice the national rate, the Federal Reserve report said. Job growth in every industry sector added jobs year-to-date. However, employment was particularly strong in the energy and construction sectors."Texas' manufacturing sector also has significantly outperformed its national counterpart. Texas manufacturing employment growth stood at 3 percent in August and 1.5 percent year-to-date. This is compared to 0.2 percent year-to-date nationwide.New home sales in Texas are healthy, a...
Comments 1
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Ross Dress for Less is reported to have just bought the many of the Albertsons buildings and are expected to fill the stores as soon as possible. Due to a recent buy out of Albertsons by CVS Corp, many of the stores abruptly closed and subsequently have remained boarded up, vacant and frankly quite an eyesore.Although, I admit that seeing a discount clothing store in some of these locations may seem odd, anything is better than being vacant. PLUS, it will add more retail jobs!Yeah for Austin's continued growth!All of the stores however were not bought and according to the Austin Business Journal, " A spokesman for Ross said no specifics were available on store locations. Ross said it will take possession of some of the stores as soon as next month, and begin converting them into either ...
Comments 4
By Sam Chapman
Austin is a pretty stable place.  I'm not talking about the real estate market, but weather and geology.   Austin is far enough from the coast so hurricanes are just wind and rain events if they blow in across us.  Austin is far enough south so we're technically below the southern end of Tornado Alley.  Yes, we get storms, but tornados tend to be weak and don't touch down often.  The main damage is from wind, hail and flash flooding.  Austin is also far enough south so ice and snow are rare.How about the heat?  Yes, it does get warm here, but it isn't often that we're over 100 degrees.  Summers tend to be long and we feel the heat (above 85) from April thorugh early October.  Winters are mile, with not many days of freezing temperatures.  Having said that, we can have extremes here, but...
Comments 1
By Scott Turner
(Turner Residential)
Every once in a while I stumble across something that makes my life so much easier! Today I found "Hello Austin". This is an online site that has all of the info you could possibly want to know about Austin, Texas. (Restaurants, weather, music, art, where to shop etc.) This is the absolute best thing for clients who are relocating. They even put together this great little pdf with a enormous amount of info that I can email to clients. http://www.helloaustin.com/PDF_Files/AustinTX_Brochure.PDFThen, after tooling around on the site I realized that they do 550 different cities and 7 continents. Go to www.HelloMetro.com and see if your city is on there.
Comments 2
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Here is my monthly update for the Austin Area's Appreciation YTD by MLS Area.  Sep-06 MLS Area Appreciation YTD FC 46% BU 26% WE 26% 8W 25% 6 24% 5 24% LL 18% 5E 18% WW 18% LC 17% OT 16% 1B 16% CC 15% W 14% TC 13% 4 12% SV 12% SW 12% JA 11% 8E 11% 3 11% 3E 10% 10 10% 2 10% RN 10% HH 10% LS 9% 11 9% 1A 9% LN 9% 2N 9% 1N 8% SE 8% PF 8% BA 8% HD 8% RR 7% GT 6% HW 6% N 6% CL 5% SC 5% MA 5% BW 5% HU 4% 7 4% NE 3% NW 3% EL 0% LH 0% 9 -2% HS -3% BL -0.051413939 GP -0.258454106  In the month of Sept we are beginning to see the first signs of some slowing down in the real estate market as there were 122 more new listings in Sept 06 compared to Sept 05, but 4 less solds. This still does not point to a buyers market just yet as we had 326 more PENDING HOMES than the same month a year ago.My person...
Comments 2
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
I like to post article having to do with job growth, because to me jobs mean homes. More jobs mean more homes, less jobs mean less homes.Two of the newest announcements are that Panera Bread Company and Tiffany & Company are opening sites in the Austin Area.Panera Bread offers a variety of artisan breads and other specialty breads, along with bagels, pastries, baked goods, and hot and cold espresso beverages. This will be the first Panera Bread in Austin. Some other Specialty Bread companies haven't faired very well in the past, though, including Atlanta Bread Company, but the location of the Panera Bread coming to the Bee Caves area will give it the best chance of survival. Tiffany & Co. is a luxury jeweler and the company says that the new Austin store will offer its own signature col...
Comments 1
Texas sponsors a womens conference every year. I've been to the last 3 and can say that they are incredibly useful and full of great content, education and motivation/encouraging speakers.  They are always held in Austin TX. This year's conference is being held Oct 12th.  Although there are some men, I'd guess that 95% of the attendees are women. The educational seminars are informative - they usually have several different tracks depending on your interest.  Unfortuantely this year's event is sold out - but if you really want to go, give them a call and badger them for unused/unspoken for tickets.   http://www.txconferenceforwomen.org/
Comments 0
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
According to a recent report from a market research firm, Residential Strategies Inc, the Austin Area had 17,000 new starts within the past 12 months.A qoute in the Austin Business Journal confims some of my previous blogs on Austin's Appreciation. "While Austin builders are concerned about the housing slow-down reported in other parts of the country, the fact is that, for now, Austin is still a healthy market," says Mark Sprague, partner in the Austin office of Residential Strategies. "Austin did not experience the massive run-ups in house prices three years ago that affected so many markets. As a result, Austin's relative affordability and stability have served it well during the past few months."There are specific pockets of positive new home growth that particularly interest me for ...
Comments 0
The Week in Review:  September 17 – 23, 2006 (compared to the same week in 2005)New listings were down less than 1% this past week.Pendings up 7.61% Solds up 42.09%.As for Average Prices:  September 17 – 23, 2006 (compared to the same week in 2005)"New Listings" average list price is up 1.42% to $269,111.  Sold average sales price increased 1.56% to $213,199.In 2005 it was $209,931 during the same week.The Month in Review:  August 2006 (compared to the same month in 2005)New listings are up by 6.76%.Pendings increased by 16.87%Solds decreased by 1.99%.  As for Average Prices:"New Listings" average list price is up by 7.92%.Sold average sales prices increased 12.12% to $236,348 compared to $210,806 in 2005. Statistics provided by Alamo Title Co. in Austin, TX.  See more Austin real estat...
Comments 2
Dell is hiring in the Austin area - not just hiring, but hiring for high paying positions.  By February of next year Dell expects to hire 500 additional engineers in Round Rock.  Round, Rock, a suburb of Austin to the north, absolutely exploded with growth when Dell located its headquarters there.  This new influx of engineers will add to the growth.  This is great news for the Austin/Round Rock real estate market. Highly paid people tend to purchase more expensive homes.
Comments 0
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
AAA (Automobile Association of America) just came out with their top 10 best pet cities for TRAVELERS. So I wondered which cities are ranked as best pet cities for people who actually live there.According to DOGFRIENDLY.COM, these are the top 10 Vancouver, British Columbia, Canada-San Francisco, CAChicago, ILBoston, MAAustin, TXSeattle, WANew York, NYLong Beach (LA area), CASt. Louis, MONorthern Virginia (DC area), Virginia Citysearch.com has a section for just about each city that allows you to find the best "pet friendly" hotel within that city. Here is the AAA list:  No. 1: Houston No. 2: San Antonio No. 3: Austin No. 4: Albuquerque, N.M. No. 5: Phoenix No. 6: Dallas No. 7: New York No. 8: Orlando, Fla. No. 9: Nashville, Tenn. No. 10: Tucson, ArizOOO, look at all those TX towns!!!!!  
Comments 2
By Robert Rees - Austin Real Estate
(Robert Rees Realty, Inc)
Quick! Buy a Hybrid Car fill the Tank with gas and drive out to TEXAS on 1 Tank. When you get to Texas fill it up again so you can make it through the state...when they say "great" state of Texas, that means BIG!!Then find an energy efficient house (preferably in Austin, call Robert Rees Realty, the 3 R's of Real Estate, where every transaction should start with us) then call TRAVELER's INSURANCE to get a discount on your car insurance!That's right, according the Austin Business Journal, " Travelers, an automotive insurance company owned by the St. Paul Travelers Cos. Inc., said Monday that the firm will reduce premiums 10 percent for Texas drivers that buy hybrid vehicles."The City of San Antonio has a one-year pilot program that allows hybrid owners to park for free at parking meters!...
Comments 0
Explore Austin, TX
Austin, TX Real Estate Professionals