Downtown austin projects (Fort Worth, Howe, Charlotte: real estate market, rentals, condo)

[Austin97]

I found this cool summary of the various projects going on downtown. I really want to live down there get out of suburbia.

The prices right now are out of control at 300/sq ft. However with so much coming online and a fall in the housing market in 2008/2009, the perfect opportunity to buy may be coming up.

Gotta save those pennies!


http://www.ci.austin.tx.us/downtown/...er_april07.pdf

[Othon]

Pfft, I LOL at all the peeps who say Austin isn't ready for growth.

[AustinGuy]

Originally Posted by Austin97

I found this cool summary of the various projects going on downtown. I really want to live down there get out of suburbia.

The prices right now are out of control at 300/sq ft.

$300/sq ft is pretty much the starting price of these new projects downtown. They go quite a bit higher in $/sq ft.

[mrsengle]

Fall in the housing market in 2008/2009? Can you explain that, please?

[dcd2338]

just moved out from Charlotte, NC. I sat and watched from the sidelines as their condo market shot from $250 SF to over $400 SF (entry level) within a year and a half.

If your not involved you'll be kicking yourself 2 years from now. The urban movement is inevitable and will happen right before your eyes. You can either reap the benefits, or watch from the sideline. Prices will never be any less expensive to own in downtown Austin. Print this out and read it in a couple of years.

[Austin97]

Originally Posted by dcd2338

just moved out from Charlotte, NC. I sat and watched from the sidelines as their condo market shot from $250 SF to over $400 SF (entry level) within a year and a half.

If your not involved you'll be kicking yourself 2 years from now. The urban movement is inevitable and will happen right before your eyes. You can either reap the benefits, or watch from the sideline. Prices will never be any less expensive to own in downtown Austin. Print this out and read it in a couple of years.

Austin housing will follow the national market, we may not take as much of a hit, but we will take a hit.

Higher interest rates, increased lending standards and a national recession will impact us. Forecast for the bottom of our real estate market to be beginning of 2009. 2007 will slow down, 2008 will drop, 2009 will be the bottom.

[dcd2338]

All right then. Wait and see what $250,000 buys you downtown in 2009....and last I checked, interest rates were staying put if not heading down.

[JJG]

Great for Austin. The city is showing off it's growth.
God I wish Fort Worth could take off like that. We seriously have a lack of a skyline.

[jobert]

Originally Posted by dcd2338

just moved out from Charlotte, NC. I sat and watched from the sidelines as their condo market shot from $250 SF to over $400 SF (entry level) within a year and a half.

If your not involved you'll be kicking yourself 2 years from now. The urban movement is inevitable and will happen right before your eyes. You can either reap the benefits, or watch from the sideline. Prices will never be any less expensive to own in downtown Austin. Print this out and read it in a couple of years.

Yes, and in this week's addition of "Where are They Now?"....

[inthecut]

Originally Posted by dcd2338

just moved out from Charlotte, NC. I sat and watched from the sidelines as their condo market shot from $250 SF to over $400 SF (entry level) within a year and a half.

If your not involved you'll be kicking yourself 2 years from now. The urban movement is inevitable and will happen right before your eyes. You can either reap the benefits, or watch from the sideline. Prices will never be any less expensive to own in downtown Austin. Print this out and read it in a couple of years.

Boy, if this doesn't sound like the real estate mania 2-5 years ago, nationally.....this is the same argument that sells anything in a manic, "gotta buy now or you're missing out" mode......you have entire complexes in Austin that haven't sold units now.....huge overhang......many are converting some units to rentals, which will not increase the value of the units already sold........

Real estate fundamentals have changed markedly since the mania.....financing is very tight....commercial real estate has very much slowed, even in Austin.....Residential real estate builders' stocks have dropped greatly, in some cases 50-80%, just like the corporate banks.....international funding is not there to buy up bundles of mortgages, and Fannie and Freddie have largely shut down as well.....


The mania is over with, even in Austin....We are so much past the "gotta buy it now before you lose out" stage it isn't even funny..


BTW, you imply that Charlotte, NC is booming.......if so, what's this all about?

http://www.charlotteobserver.com/597/story/637794.html (broken link)

11.7% unemployment? 3rd highest of all metro areas in the USA? I can see why you "just moved out!"....... LOL!