Austin Real Estate Roundup: October 2014

Posted by Mary Ann Castro on Thursday, October 16th, 2014 at 3:11pm.

austin-real-estateStay connected with the latest Austin real estate news. See what's happening in Austin and stay ahead of the game in this increasingly competitive market. Courtesy of JBGoodwin REALTORS®. This month we feature stories on Fifth & West Residences, the Austin housing market and more.

An Austin housing bubble? Trulia report is nonsense, local experts say, American-Statesman

Agree to disagree? Local Austin real estate experts are not seeing eye to eye with Trulia's recent report which states that Austin has the most overvalued home prices in the US. The report, which was published on Trulia's Bubble Watch blog by chief economist Jed Kolko claims that Austin real estate is 20 percent overpriced. This puts Austin ahead of the likes of LA, Orange County, San Francisco and Riverside-San Bernardino in California. JBGoowin REALTORS® president Byron "Buddy" Schilling and other experts in the field put the Trulia blog article to rest stating that high job growth coupled with a high demand for housing and tighter lending rules is what led to higher prices. A case of supply and demand, as opposed to a housing bubble.

Relocation report: Out-of-staters moving to Travis County, Austinites moving to the suburbs, Austin Business Journal

According to the Texas Relocation Report released by the Texas Association of Realtors, Williamsom County ranked 3rd in net gain population in Texas last year. Hays County was right behind in 4th place and Travis County ranked 9th in the state. The data, which came from a mix of census and research data from U-Haul International reinforces findings that an increasing number of people are moving to the greater Austin area. The majority on out-of-state migrants are coming from California, followed by Florida, Oklahoma and Louisiana.

39-story condo tower set to break ground in downtown Austin, American-Statesman

In a few short years, Austin will gain its 5th tallest building; a 39-story condo development named Fifth & West Residences. The proposed location for the mega tower will be on the northeast corner of West Avenue and West fifth Street, the former home of the Texas Press Association. Riverside Resources, a local firm in partnership with the Carlyle Group will be overseeing the project, which is set to break ground soon. Slated for completion in 2017, the condominium building will feature conference rooms as well as little luxuries like a dog park, swimming pool, fitness center, yoga studio and a coffee bar. In all, there will be 154 units ranging from two to four bedrooms.

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