January 28th, 2010
I’ve read a few articles of interest this week, so I thought I’d share a few of my favorites.
First, Austin tops the charts again as one of the best buyers real estate markets for investors. Out of the top ten places, Austin ranks second. Why? Austin possesses a strong regional economy and is one of the hottest prospects for the highest job growth in the country. Employment is the leading economic indicator for a strong housing market, and Austin has what it takes.
Despite predicting 26,300 new jobs and a healthy real estate environment through 2011, economist Angelos Angelou warned last week that Austin’s economic development performance, especially around clean technology, is lagging.
He said we could become a victim of our past success. Let’s hope not.
On a different note, Austin was ranked as the 4th worse place for traffic. Fourth? Yep. Austin’s I-35 corridor has the fourth worst peak-hour congestion in the United States, according to research from INRIX and The Daily Beast today.
The traffic research companies based the rankings on peak road travel time compared with during free-flow hours, and the report identified roadways with the longest hours of bottleneck congestion.
The report found on average I-35 drivers encounter 460 hours of bottleneck traffic a week. The worst congestion heads northbound for about a mile near Riverside Drive and at its slowest hits about 16 mph.
Tags: Austin news, austin realtor Cord Shiflet, buying selling homes, Cord Shiflet real estate blog, luxury homes, real estate, Realtor
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January 14th, 2010
Austinites may still be a bit depressed about losing the BCS championship game, but there are positive things on the horizon in 2010. According to a recent article in the Austin American-Statesman, this year we should start to see a rebound for the real estate market.
While Austin hasn’t been totally immune to the recession, it’s been holding its own. In fact, Austin’s housing and economic fundamentals are some of the strongest in the nation. That means when the economy starts to improve, Austin will be among the first cities to feel the positive impact thanks to its stable local housing market. (On a personal note, Hallelujah!)
MetroStudy, a housing research firm, offers the following statistics:
- Central Texas single-family home starts are off 60 percent from their peak in the third quarter of 2006
- Central Texas single-family home starts were down 19 percent last year from 2008 levels
- Builders started 6,490 homes in 2009, the lowest level since 1995
As soon as consumer confidence improves and people feel better about big purchases, like homes, Austin should see some relief. There won’t be as much new construction to shop, so that’s good news for people selling older homes. You might not have to compete with brand new construction as much as you have in the past.
Based on the numbers I’ve been seeing, I think the worst in behind us. 2010 won’t be a cake walk, but there are many things to feel optimistic about. Make sure you view my listings and feel free to contact me with questions.
Tags: Austin American-Statesman, Austin real estate Cord Shiflet, austin realtor Cord Shiflet, buying selling homes, Cord Shiflet, Cord's Blog, Cord's listings, Cords Homes, current issues, economic fundamentals, economic outlook, luxury homes, MetroStudy, real estate news Texas, stable housing market, UT BCS championship game
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January 12th, 2010
I hate to use the term “dream home” because it seems rather cliche. Then again, it’s also true. If you’re looking to buy a luxury home in Austin, Texas, there are lots of amazing possibilities. If you don’t believe me, why don’t you take a look at my listings and see for yourself.
Whether you’re looking for a European-infused estate, a private manor or an exquisite A-frame, all of these homes are extraordinary and located in the most prestigious Austin neighborhoods. I was born and raised in Austin (been a Realtor since 1997), so I know the city like the back of my hand – from the school districts to the shopping to the cool “dives” that make Austin famous. Take a look at some of my listings, all of which include a virtual tour and photos galore.
3204 Rivercrest Drive – $4.5 mil
1616 The High Road – $3.9 mil
65 Pascal Lane – $2.9 mil
3801 Hunterwood Point – $2.7 mil
3 Wren Valley Cove – $2.4 mil
2009 Lakeshore Drive – $2.2 mil
Tags: Austin homes for sale, Austin Real Estate, buying a dream home, buying home, Cord Shiflet, Cords Homes, CordsHomes, Hunterwood Point, Lakeshore Drive, luxury homes, million dollar listings, Pascal lane, realtor austin, residential real estate, school district, selling home, The High Road, Westlake neighborhood, Wren Valley Cove
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January 7th, 2010
It’s the day of the BCS National Championship Game and it looks like 90% of Austinites are wearing burnt orange. From CVS to Nordstrom, every shop in town is selling UT gear like it’s going out of style. Although Austin is rather quiet because thousands of UT fans have made their way to Pasadena, escaping the cold weather here in Texas and revving up for a big game – and hopefully, a victory. In fact, Southwest Airlines, Jet Blue and American added new direct flights to handle the crowds. Evidently the airport was packed on Wednesday.
You can read about the last-minute scramble for BCS gear by clicking here.
Longhorn coach Mack Brown spoke to reporters and said his goal is to motivate his team and focus on the task at hand.
“We haven’t played our best game yet,” said Brown. “We haven’t played perfect yet. We have to do our best. Each player is here for a reason. We can’t do more than who we are and when you start trying to be someone you aren’t, that’s when you lose. They have to play as hard as they can for three-and-a-half hours to win a national championship. The BCS is lucky having two undefeated teams playing for the championship. I remember looking down at SC [in 2005], and I said to Greg Davis, ‘My Gosh! They have a great looking football team.’ [Davis] said ‘Well, turn around, you have a good team too.’”
This is just another terrific reason to live here in Austin, TX. The music is incredible, the food is fantastic and the football in a wonderful shade of organge. Hook ‘em!If you don’t know where to go tonight to watch the big game, call the Alamo Drafthouse, Scholz Beer Garten and Speakeasy. There might be room for another fan!
Image: LA Times
Tags: Alabama, Austin, Austin airport, BCS Championship Game, buying selling home austin, CA, Cord Shiflet, fans, football, hook 'em, Longhorns, luxury homes, Mack Brown, national championship game, Pasadena, Realtor, sports, Texas, thousands UT fans, University of Texas, UT vs. Bama
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December 30th, 2009
Just when it seems like we’re seeing positive strides in the real estate market, we get bad news. It’s not really shocking, but it doesn’t lift everyone’s spirits. Earlier this week, the Austin American-Statesman reported commercial real estate foreclosures more than doubled in the Austin area in 2009. While that may not come as a big surprise, the bad part is this is expected to remain throughout 2010.
According to George Roddy Sr., president of Foreclosure Listing Service, “Residential foreclosure postings have been at the high-end of the foreclosure cycle for some time now, and the commercial market generally follows behind residential.”
Austin didn’t seem to fair as well as other Texas cities, but that could be because out-of-town investors ran up the prices. Now Austin has to pay the price.
Tags: bying selling home, commercial real estate news, Cord Shiflet, Cord's Blog, Cords Homes, foreclosures in Austin, luxury marketplace, real estate industry news, realtor in austin
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December 22nd, 2009
It’s a long-time tradition here in Austin – The Trail of Lights at Zilker Park. Every holiday season, families are wowed by the beautiful lights and festive celebration. At the heart of this celebration is the Zilker Christmas Tree, a 155 feet tall tree with a 10 feet tall star. The tradition is to stand under it and spin while looking up. Dizzy people are packed under this tree. My advice is save the delicious bag of Kettle Corn for after your spinning.
In addition to the tree, there is an amazing Trail of Lights. Unfortunately the economy hit our trail and the exhibit had to be scaled back. We still got to see lots of great displays and the Yule log was there to marvel at. Thanks goodness, because it used to be known as Yule Fest. The incredible Peppermint tunnel was missing and that was sad. I loved that tunnel!
Anyway, you can read more about this holiday tradition at the City of Austin Parks website.
Tags: Austin, buying selling home austin, city of austin parks, cord shiflet blog, Cords Homes, happy holidays, holiday tradition, luxury homes, real estate blog, realtos, spininng under the tree, Trail of Lights, Yule fest, Yule log, Zilker christmas tree, Zilker Park
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December 16th, 2009
The Austin skyline has certainly changed a lot over the past few years. In addition to buildings like the Frost Tower, we’ve seen some amazing high-end condos peek out above the clouds. Unfortunately, two of these projects are facing financial woes.
The Star Riverside (Interstate 35 and East Riverside Drive) and Sabine on Fifth projects were posted for the Jan. 5 foreclosure auction, according to Real Estate Foreclosures Inc., a San Antonio company that tracks foreclosures for investors. The company listed loans for Star Riverside totaling $38 million.
Constellation Property Group, an Australian company, started Star Riverside in 2007 at originally envisioning a high-end waterfront complex. Plans for the project were revised twice to lower prices as the economy went into a tailspin. You can read the full article about the condo projects at Statesman.com.
Some Austinites think the problem is pricing. Is $600k – $995k too pricey for this area? After all, these are condos. I tend to think buyers want high-end living on any of Austin’s waterfront properties. In fact, I’m listing a high rise condominiums in downtown Austin (Four Seasons) that is absolutely gorgeous. It’s listed at $2.6 million and it’s located at 98 San Jacinto. You can take a look at all of my listing by clicking here.
Tags: Austin American-Statesman, Austin Real Estate, buying selling luxury property, condo projects, condos for sale, Cord Shiflet, Cord's Blog, high rise condominiums, listing, News, Realtor, Star Riverside
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December 9th, 2009
When the Domain opened in 2007 it brought with it the good shopping we needed. It always bugs me how people love everything about Austin minus the shopping. Houston and Dallas always come out on top in conversation. Well, the Domain changed that. We welcomed Tiffany & Co., Neiman Marcus, Louis Vuitton and more. The Domain has continued to be a shining star for designer names at real designer prices. Not to mention they host a variety of great family events to all to enjoy – even without a Prada bag in hand.
I read an article on Statesman.com in November and was shocked to see the list of stores coming to the Domain II:
-American Eagle Outfitters
-Aeropostale
-Bath & Body Works
-Express
-Finish Line
-Payless ShoeSource
-Perfume Palace
Say it ain’t so! This is almost as bad as the shop at The Galleria in Lakeway. I guess the economy is taking its toll on shoppers and these are the stores that make sense now. And may I add, “Booooo.” I do agree with Marques Harper that we aren’t quite ready for a stand-alone Channel store, but a Payless. Back to being the butt of shopping jokes again.
Tags: Austin, Austin American-Statesman, buying selling home austin, Cord Shiflet, designers, lake austin, luxury shops, neiman marcus, prada, realtor cord shiflet, shopping, the domain, westlake
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November 30th, 2009
If you glanced at the Wall Street Journal’s Travel section yesterday, you would’ve seen a great article about Austin, TX. The vibe is uniquely hip and as soon as you experience it, you want to stay. If you only have 36 hours to spend, here are a few great ways to make the most of it.
From buying cowboy boots at Heritage Boot, to mouth-watering BBQ at Salt Lick, to shows at the Long Center and the hippest bike shops in town like Mellow Johnny’s Bike Shop, this article hand picks the best of the best. Austin may be the Music Capital of the World, but not just because of the spirit of rock-n-roll. We have honky-tonk dance halls that will make you cut a rug and retro rockabilly venues that will take you back. The Hill Country is beautiful beyond words and the neighborhoods, school districts and career opportunities are incredible. If you spend any time here, you will certainly want to call it home.
Read the full article here to enjoy it all. Remember, if you’re looking to buy or sell a luxury home in Austin, TX, visit my website to get in touch with me. I would love to help you find the home of your dreams in the city that “keeps it weird” – weird in a good way, of course!
Image: Wall Street Journal
Tags: article, Austin real estate blog, BBQ, buying selling homes, Cord Shiflet, Heritage Boot, home sweet home, honky-tonk dance hall, Industry News, long center, luxury homes Austin, mellow johnny's bike shop, Moreland Properties, Realtor, Salt Lick, TX, weekend trip
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November 23rd, 2009
We all know the obvious meaning of so many homes for sale and foreclosures peppered throughout neighborhoods in the U.S. But what about the less obvious hazards? Let’s take the increase in illegal parties at vacant homes. Yep, that’s right. From San Diego to Tempe to Fort Myers, police are busting people throwing parties in abandoned houses.
Late night raves have become an issue in San Diego county. Culprits were throwing organized parties in foreclosed homes by leaving doors unlocked while touring an empty home with the Realtor. These people are charging admission at the door and even charting shuttle buses to avoid creating parking lots in the neighborhood which certainly raises suspicions. The charges these party throwers face when caught by the police are pretty hefty including grand theft, burglary and vandalism.
In Tempe, Arizona, after several instances of party crews holding illegal bashes in foreclosed houses, patrol officers carry a list of foreclosed homes in their patrol areas. “We encourage officers to proactively get out to those areas and conduct security checks on each patrol,” says Sgt. Steve Carbajal of the Tempe Police Department. “In this unique time as far as the economy, as far as the housing market, it really calls for unique strategies.” Another community awash in foreclosures, Fort Myers, Florida, police busted an illegal party at a foreclosed house earlier this year and arrested several youths.
I know we’re all eager to show homes to potential buyers, but just be smart about it. Check all of the doors and windows to makes sure everything is secure when you leave. You just never know…
Tags: Austin, buying selling homes, Cord Shiflet, empty homes, foreclosures, Illegal parties, News, real estate industry tips, real estate woes, realtors, San Diego county, securing homes for sale, TX
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