Northwest Hills Tarrytown Allandale Central Austin Market Report

In the last sixty days, Central Austin real estate has seen more homes sold than came on the market. See the inventory chart below for zip codes Northwest Hills, Tarrytown and Allandale.

Central Austin neighborhoods like Northwest Hills Allandsale and Tarrytown will remain  in a buyers market for some time, but buyers are feeling pressure to move faster and secure the best homes. As one buyer put it recently, “All that’s left are the leftovers.” With prices flat and interest rates trending up, there’s urgency in Central Austin to make a move now.

As for the national market: The guys who are now famous for predicting the real estate collapse in 2005 are putting their money in homes. Meet Nouriel Roubini and John Paulson.

According to the Wall Street Journal, Roubini is: “…the New York economist whose warnings of a housing collapse earned him the nickname ‘Dr. Doom.’ Ever since much of his dire forecasting came true, Mr. Roubini has become one of the world’s most recognizable economists. He has been in demand as a speaker and consultant, often shuttling around the globe to advise central bankers and finance ministers.”

He just plunked down $5.5 million for an East Village penthouse loft, public records show. Real-estate people in New York were quick to seize on his purchase as a healthy sign for the local property market.

“Even the most bearish think our market has nowhere to go but up,” said Frederick Peters, president of Warburg Realty Partners. “Dr. Doom is a little late to catch the bottom, but there’s still plenty of upside at this point.”

According to Forbes, John Paulson (aka Mr. Bear) is: “…a multibillionaire hedge fund operator and the investment genius who made a killing going short subprime mortgages a few years ago.”

He purchased a two-bedroom apartment at Olympic Tower, a luxury condominium on Fifth Avenue across the street from St. Patrick’s Cathedral and Rockefeller Center, for $2.85 million, according to public records. The 51-story building was developed by Aristotle Onassis and is popular with part-time residents from abroad.

Is the market at its bottom and about to turn for the better? Mr. Paulson recently said, “If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.”

Please pass my name along if you know of anyone looking to buy or sell in the Central Austin area. I would be honored to help.

There are no comments yet. Be the first and leave a response!

Leave a Reply