Today, we toured two new complexes in Austin with condos up for auction. These are stylish new developments that didn't sell at $250 to $300 per sq.ft.
The Sage is near downtown but the development has no guest parking at all, and you would have to be insane to park on the freeway-like street.
The Sage
The units are all three stories, with a utility room and garage on the first floor, bedrooms on the second, and main living area (with the view) on the third. A little odd, but OK except that the main entrance opens onto the utility room. I'm not kidding.
The Bel Air is on Congress (Austin's main street), but several miles south of downtown, out in the burbs.
The Bel Air - Austin Texas Rooftop Living, Modern Living, Green Living at the Edge of the Urban Core
These are "lofts" (realtor-speak for unfinished looking), with floorplans similar to the Sage. Many units featured their unique "exhibitionist" bathroom, with a nearly floor to ceiling window next to the toilet.
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Does this sound like sour grapes from a retired couple priced-out of the Austin condo market? Nah, we are way beyond sour grapes and even past vinegar. Think glacial acetic acid.
A couple of years ago, even problematic developments like these would have had no trouble selling out. Now, not so much.