Dee Copeland, Principal Broker

Today's spotlight is on SouthTown Austin, a growing area of South Austin that lacked the media attention of it's popular cousins in the SoCo (South Congress) and SoLa (South Lamar) Districts.

SouthTown Austin has been quietly booming for the past few years. Home prices steadily rose. The area is affordable, ripe for rehabs, and ready for new construction. The latest Austin real estate update showed South Austin homes selling in 30 days, SouthTown included.

SouthTown may share the same fate as SoCo, which now has too many condos coming. The Austin Statesman published an article entitled, "It's called LoCo and it's getting a redo".

WHERE IS THE SOUTHTOWN DISTRICT(aka SOUTH SOCO, SOUTH SOLA, LOCO, LOWER CONGRESS)?

Continue reading "Austin Real Estate District Spotlight: Austin's Southtown, Lower Congress Area"

Austin City Council Member Sheryl Cole is a local hero for cleaning up the Waller Creek Tunnel in Downtown Austin. The project will bring a new vibe to downtown and is likened to the Riverwalk in San Antonio.

Waller Creek is often called Austin's lost stepchild. Located in the heart of Downtown Austin, Waller Creek is known for dangerous flooding, an "aggressive" homeless population, and pollution.

Some say Waller Creek puts a black eye on Austin's reputation for being clean, green and safe. Many city leaders have tried to tackle the issue, but it Cole,  along with Mayor Pro Tem Betty Dunkerley, were finally victorious.

WHAT  WILL THE WALLER CREEK PROJECT DO?

The $127 million Waller Creek Project is basically a tunnel that will help control flooding, erosion, and pollution at the site, which is located around 12th Street and Red River. The project is mostly paid for by tax-increment financing. You may wonder...

"What are the benefits of a really expensive tunnel in this area of Downtown Austin?"

Continue reading "Waller Creek Tunnel Project Brings 'Riverwalk', Tackles Big Problems in Downtown Austin"

This week's spotlight is on Streetman Homes,a national builder who is well-respected in Central Texas because of their high-end, green, sustainable homes.

Streetman is among few volume builders who can build 5-star green homes. Their popular styles include Hill Country Modern (pictured) and Craftsman.

Streetman's Austin communities are popular for buyers handling in or out-of-town relocations.

MOST POPULAR STREETMAN HOMES COMMUNITIES IN AUSTIN

1.Stone Creek is new at Circle C Ranch and starts in the mid $270s. Circle C is probably the most popular master-planned communities in Southwest Austin, so to have some more affordable homes in the neighborhood seems like welcome mix.

2. Belterra. Streetman has several choices in Belterra: Valley Oaks from the $240s, Palisades starting at the $350s and Aspen Hills starting in the $420s.

3. Mueller Austin (pictured) homes starting at $480,000. Mueller is about 30 minutes southeast of the Lake Travis and a few minutes to Downtown Austin.

STREETMAN INTRODUCES WEST CYPRESS HILLS IN THE TEXAS HILL COUNTRY

Continue reading "Builder Spotlight: Streetman Homes Opens West Cypress Hills this Sunday"

Someone help me out here. Why do people prefer to buy when the market is "hot" i.e. a seller's market? Then, when sellers are motivated to sell quickly and at better prices, they shy away because it's a "buyer's market".

I ask because buyers now have a problem. North & South Austin real estate is hot. In fact, February has been a stellar month for the Austin real estate agents who hung in there through the slump of Fall and Winter 2007.

VIEW THE AUSTIN MARKET UPDATE SLIDESHOW BELOW OR (DOWNLOAD) 

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ADVICE FOR INVESTORS AND SELLERS STUCK WITH HOMES IN PREVIOUS "HOT" AREAS

Continue reading "Austin Real Estate Update: North and South are HOT"

Here's a quick riddle. What does Boxer Mike Tyson and Maravilla Home Builder Mike Kelly have in common? ANSWER: They both thought they were invincible, but were eventually smacked down by the legal system for beating up on the little guy.

MARAVILLA SCOOP: BEGINNING OF THE END!

The Texas Residential Construction Commission took action against a Maravilla home builder Mike Kelly and Primera Homes.

Mike Kelly and Primera are officially barred from working in the Texas home building industry for two decades. I was also told that Mike signed a 38-page confession, to be posted on the TRCC website soon.

TRCC PRESS RELEASE, PRIMERA HOMES FRAUD

Commission Levies Most Stringent Penalty Against Austin-Area Builder. 13 Other Builders Across State Also Penalized

At its February 13, 2008, meeting, the Texas Residential Construction Commission revoked the registration of Austin-area builder Primera Homes Ltd. According to an agreement with the commission, the company's owner, Michael Kelly, is prohibited from working in the residential construction industry in Texas for 20 years.

"The commission took action against Primera Homes for committing multiple violations, including misappropriating trust funds in numerous instances and using false advertisements."~TRCC Press Release 2/13/08.

Primera Homes was responsible for several Austin-area subdivisions, most notably the troubled Maravilla community...

WHAT'S NEXT FOR MIKE KELLY,MICHAEL BREON AND MARAVILLA HOMES?

Continue reading "Texas Home Builder Mike Kelly Confesses to Fraud at Maravilla"