A surprise announcement by Dell, Inc. earlier this week sent the Austin real estate community into shock. Dell plans to close it's North Austin manufacturing facility, cutting almost 800-900 jobs in early 2009. Globally, the company will remove up to 10% of it's workforce, about 8800 jobs, saving up to $3 billion.
Readers asked me to cover the topic. Specific questions:
"How will the closing of Dell's North Austin manufacturing plant affect Austin real estate values?"
"How will the 800-900 lost jobs impact the local economy?"
"Is this an indication that Austin is set for a real estate bust?"
These are good questions, but there are no easy answers. The purpose of this article is to start dialogs and create a basis for discussion.
Austin Real Estate Stats Since the Tech Bust of 2000
Continue reading "How will Dell Layoffs of 900 Jobs Affect Austin Real Estate?"
We're excited to announce big changes to the Texas Realty Blog website!
Upgrades will occur within the next few weeks and completed by end of April. Planning has been in the works since last Fall to create an interactive Austin Real Estate community.
You spoke. We listened. Here is the Press Release Sneak Peak...
"AustinRealEstateToday.com is the virtual water-cooler and interactive online community for Austin real estate news, developments, builder alerts, market updates and insight."
Top 'Austin Real Estate Today' Features That You're Going to Love
This Friday's story focuses on Austin custom home builder involved with Maravilla. (NOTE. The builder has not been indicted for charges, so names will be kept anonymous.)
According to readers, local sources, and information available to the public, a 'Maravilla Builder' may soon be under investigation by several Texas legal authorities for accusations around their involvement in Maravilla, a subdivision that resulted in Texas Builder Mike Kelly filing bankruptcy.
Kelly confessed to an agreed order from Texas Residential Construction Commission (TRCC) for his actions.
One Maravilla Builder's license was deactivated in February for reasons unknown to us.
We were told that current accusations from private individuals against a Maravilla Builder include:
Last month, I reported that home sales in North and South Austin were doing well despite a down market from last year. At that time, previously "hot" areas such as Central East Austin and the South Congress area (78704) were suffering. Those trends continued in February.
View the Slideshow for the latest Austin real estate market statistics, based on February MLS data from the Austin Board of REALTORS®. Click to Download the February Update (copywritten).
Continue reading "Austin Real Estate Update: "Houston, We Have a Glut of Inventory"
By DeeinAustin™
The Titanic-sized Villa Muse development is in trouble and sinking fast.The viability of the project in Austin took a controversial downturn after Austin City Council narrowly denied their request to release acreage in East Travis County.
As a result, News 8 Austin reported that developers are seeking bids from other cities.
You may recall that Villa Muse consists of a mixed-use arts and entertainment community and complex. The slated location is in East Travis County near Manor, just outside of Austin's jurisdiction.
Villa Muse is an extremely critical decision for Austin. The $2.5 billion project promises up to 110,000 jobs.
WHAT'S SO CONTROVERSIAL ABOUT AUSTIN'S VILLA MUSE?
Copeland Group Realty specializes in green construction, infill development and investments. We strive to build life-long relationships with clients and agents for assistance in Central Texas.
OUR MISSION : To provide personal, professional service and counseling while building life-long relationships based on our passion and commitment to the community, each other and our clients.
VISION: To be healthy, happy, financially-free industry leaders who proactively impact our lives and the lives of others in a positive way every day.
VALUES: Trust, Honesty, Expertise (THE).
BELIEFS: We are experts at what we do. We learn from the best while teaching best practices. We are leaders and problem solvers. We will let nothing stand in our way as we achieve our goals. We break down barriers for ourselves and others. We treat the world as members of our family.
Our team can be reached toll FREE 24/7 at 888-346-6389! Click to call us now!
View the Latest Headlines at AustinRealEstateToday.com!
DeeinAustin is author of the forthcoming book, the "Gotcha Guide™ to Buying or Investing in Real Estate: Top money and time-wasting headaches to avoid when you buy a home or real estate investment."
AREAS SERVED:
The Copeland Group specializes in turnkey solutions and strategic marketing for green construction and investments. We help busy professionals, real estate syndicates, seasoned investors, green builders and developers find, finance, list and sell income property, new construction and land.
Community service includes leading community development and housing initiatives with a focus on sustainability, affordability, senior living and economic development.
RESIDENTIAL SPECIALTIES:
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