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Real Estate Blog

austin gorilla run logoIt's that time of year again. The time when downtown gets flooded with people in gorilla costumes ready for a run. Out of town visitors probably get a nice shock, as it is a quite a sight to see hundreds of "gorillas" stampeding down Caesar Chavez or enjoying some fine dining after the race. In their moment of shock, they probably wonder why a city would have such an event. Austinites know it's just another day in a city that loves to keep things weird.

The Gorilla Run is an annual 5K race held in Austin to benefit mountain gorillas. Participants don full gorilla costumes for the race and even get to keep them after they complete the race. It is yet another fun event that represents Austin's spirit for enjoying life while doing something beneficial for

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arrow representing increase in home valuesOctober homes sales in the Austin area were stronger than expected, even for this already strong market. This was the largest monthly increase in sales since October of 2009. The 2009 increase was due mostly to the expiring tax credit and there was nothing of this sort to drive the most recent increase, leading me to believe that we are likely to see more of this trend in coming months.

There was a 37% increase in the number of homes sold compared to the same month last year and a 51% increase in the total dollar volume in sales. With the median sales price increasing by nearly $10,000 during a slower part of the year, it is not hard to believe that once spring comes around we can expect to see even higher prices. Fortunately, the interest rates are

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two story brown brick homeNow is the time to make that move from renter to home owner. The Austin market is one of the hottest in the nation and all indicators point to continued growth for the foreseeable future. Let’s face it, we all moved to this town because we believe in it, so why not own part of it. Rental rates have exploded over the past few years, this is because there are so many other people with the same great idea, get to Austin Now. This has sent the occupancy rates for rental properties up to 96% and more, which in turn has been driving the rental rates through the roof.

Buying your own home, whether it is a house or condo, is your best insulation  against these trends and can now offer the advantage of tax breaks, equity build up and who doesn’t want to be part

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new blue glass south austin apartments

Because of Austin’s apartment boom, new apartment developments are starting to pop up all over Austin.   Here is what to expect in S. Austin alone!



Six apartment projects are currently being planned or are under construction adding nearly 1,700 apartments in the next few years. Areas where apartment complexes being planned include:

  • Post Lamar  - Post South Lamar is a mixed-use development consisting of 298 units with 8,500 square feet of retail in 4 and 5-story buildings. Amenities include a pool, fitness center, business center, and convenient access to parking garage and fabulous views to Downtown Austin.
  • Tree -  350 + luxury apartments on S 1st st.  One and Two bedroom units, homes will include granite countertops, stainless
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blue modern home for sale in austinThe Austin real estate market is one of the few places in the country that are experiencing double digit price increases. According to the Austin Board of Realtors, prices in the month of August 2012 were up more than 20 percent over the same month last year to a median price of $212,000.

That easily makes Austin one of the strongest real estate markets in the nation.

The good news is with the tight inventory of homes; rising rents and multiple offers received on available properties, most real estate experts believe the trend is strong enough to continue through 2013. Another major item supporting the real estate market is the availability of record low interest rates which the Federal Reserve has indicated it does not plan to change for an extended

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citylake_strip
The central Texas real estate market continues to be red hot, especially around Austin. According to the latest numbers from Metrostudy, housing construction is up more than 37 percent in the area and the demand for homes is supporting real estate price increases. A total of 2,376 homes were started in central Texas during the third quarter ended September. That was compared to 1,729 in the same period a year ago. The report also said the number was the largest number of starts since hitting more than 2,500 in 2008. The increase in housing starts is in response to the strong job demand in Austin, coupled with rising rents and a continued tight inventory of homes on the market. According to the latest report, less than 1,000 homes were available for sale

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the flats on wilson condos
The condominium market is showing signs of economic recovery in Austin after a surprise announcement from a large developer. According to the Austin American-Statesman, The Flats on Wilson project near Bouldin Creek will become a $19 million property for sale, not for lease.

The Flats on Wilson becomes the first project in some time to become a condominium community for sale. According to news reports, as many as 25 units may have already been sold at the project.


The prices range from $254,900 to $339,900 and experts believe that it is actually $250 less per month to buy a condominium compared with renting a similar apartment.

The Flats on Wilson are located in the very popular south-central Austin area that has become a preferred location for

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