Oasis Project

The Oasis, a popular Austin restaurant, has long been known as one of the best places to enjoy spectacular Lake Travis sunsets! Soon the scenery immediately surrounding The Oasis will be changing…

Oasis Project Set to Begin Near Lake Travis

Site work is under way for the next set of million-dollar mansions, and construction should start early next year on a Mediterranean village-like retail center at the Comanche Canyon Ranch development above the eastern shore of Lake Travis.

Restaurateur-turned-developer Beau Theriot received approval in 2006 for a planned-unit development that could fill out 120 acres of the hilltops surrounding The Oasis, his popular, decades-old restaurant. The multiple phases of the more than $250 million Comanche Canyon Ranch include single-family homes, 40,000 square feet of office space, 24 condominiums, a 25,000-square-foot retail complex and a four-story parking garage.

Theriot calls his vision for the commercial development Oasis, Texas -- a destination for relaxation and having fun on the order of locales like Luckenbach.

"I wanted to create a place where people can bring their friends and family to show them what Texas really has to offer," he says.

Austin Business Journal – by A. J. Mistretta, October 19, 2007

Housing Market Update

A news release from the National Association of Realtors has some good news about Austin real estate, amid all the national gloom and doom. The release follows:

Austin Housing Market

Conditions in the mortgage market are improving for consumers, which should help to release some pent-up demand in early 2008, according to the latest forecast by the National Association of Realtors.

Lawrence Yun, NAR senior economist, notes that widening credit availability will help turn around home sales. "Conforming loans are abundantly available at historically favorable mortgage rates. Pricing has steadily improved on jumbo mortgages since the August credit crunch, and FHA loans are replacing subprime mortgages," he said.

Yun said it's important to place the current housing market in perspective, and that 2007 will be the fifth highest year on record for existing-home sales. "Although sales are off from an unsustainable peak in 2005, there is a historically high level of home sales taking place this year - a lot of people are, in fact, buying homes," he said. "One out of 16 American households is buying a home this year. The speculative excesses have been removed from the market and home sales are returning to fundamentally healthy levels, while prices remain near record highs, reflecting favorable mortgage rates and positive job gains."

He emphasized all real estate is local with naturally large variations within a given area. "Markets like Austin, Salt Lake City and Raleigh have been outperforming recently and will continue to do well next year," Yun said. "Other areas like Denver and Wichita will likely move up in the price growth rankings due to very positive local economic developments."

Existing-home sales are expected to total 5.78 million in 2007 and then rise to 6.12 million next year, in contrast with 6.48 million in 2006. New-home sales are forecast at 804,000 this year and 752,000 in 2008, down from 1.05 million in 2006; a recovery for new homes will be delayed until next spring.

"A cutback in housing construction is a positive sign for the market because it will help lower inventory and firm up home prices," Yun said. Housing starts, including multifamily units, are likely to total 1.37 million in 2007 and 1.24 million next year, down from 1.80 million in 2006.

Realtors’ President Pat V. Combs, from Grand Rapids, Mich., and vice president of Coldwell Banker-AJS-Schmidt, said, "Housing is still a good long-term investment, and we'll be seeing a broad, modest improvement in home prices in 2008. With widely varying conditions, the best advice for consumers is to consult a Realtor in their area to learn about local market conditions because supply and demand can change from one neighborhood to the next."

Existing-home prices will probably slip 1.3 percent to a median of $219,000 in 2007 before rising 1.3 percent next year to $221,800. The median new-home price should drop 2.1 percent to $241,400 this year, and then increase 1.0 percent in 2008 to $243,900.

The 30-year fixed-rate mortgage is expected to average 6.4 percent for the next two quarters and then edge up to the 6.6 percent range in the second half 2008. Additional cuts expected in the Fed funds rate will help to keep mortgage interest rates historically favorable.

Growth in the U.S. gross domestic product (GDP) is estimated at 2.0 percent this year, below the 2.9 percent growth rate in 2006; GDP is likely to grow 2.7 percent next year. The unemployment rate is forecast to average 4.6 percent this year, unchanged from 2006. Inflation, as measured by the Consumer Price Index, is expected to be 2.8 percent in 2007, compared with 3.2 percent last year. Inflation-adjusted disposable personal income will probably increase 3.6 percent in 2007, up from 3.1 percent last year.

Austin American Statesman - October 10, 2007

2007 In-the-Water Boat Show

Check out the In-the-Water Boat Show October 11-14th!

2007 Lake Travis In-the-Water Boat & Brokerage Show to Deliver More Than Great Deals!

Central Texas consumers are invited to step aboard hundreds of 2008 model sport and motor yachts, sailing yachts and performance boats at the 2007 Lake Travis In-the-Water Boat & Brokerage Show. The region’s only “in the water” boat show will be held October 11 through 14 at Emerald Point Marina and Carlos’N Charlie’s located at 5973 Hiline Road Austin, Texas 78734.

Marking the end of the summer boating season and the beginning of the boat buying season for Central Texas boaters and dealers, the 2007 Lake Travis In-the-Water Boat & Brokerage Show will run Thursday through Saturday from noon to 7:00 PM and Sunday 10:00 AM to 6:00 PM. Admission is free.

Attendees will enjoy a preview of hundreds of sport and motor yachts, sailing yachts and performance boats ranging from 22 to 60 feet in length showcased by Central Texas’ most prestigious boat dealers. Those dealers are:

• Austin Boats & Motors
  
• Boat Town
  
• Eriksen Marine
  
• Lake LBJ Marineland
  
• Sail & Ski
  
• South Austin Marine
  
• Texas Sailing
  
• The Ski Dock
  

Unique to the 2007 Lake Travis In-the-Water Boat & Brokerage Show is a large selection of brokerage boats. For the first time ever, attendees to this show can select from previously-owned yachts and boats of all sizes.

With more square miles of inland water than any other state, Texas ranked sixth in the country for the most registered boats; according to Texas Parks and Wildlife approximately 595,000 boats were registered in Texas in 2005.

For up-to-the-minute details and links, Click Here. How about a Boat Show Coupon?

dBNews Austin - September 24, 2007

Austin Made The List!

In the current issue of Boating Life Magazine there is an article on the 10 Best Places to Live and Boat… Austin made the list of course!!

Here’s how Mike Tyler introduced his article, and what he had to say about our great city of Austin:

Somewhere the grass is always greener and the water always bluer. The question: Don't such thoughts have more to do with fantasy than reality? Maybe not. We investigated boating communities throughout the country, looking for the variety of boating opportunities, boat-friendly regulations, water access, availability of waterfront homes, health of the local economy and overall lifestyle for boaters. Austin was included in the list of 10 locations where boaters might find that imagination meets reality. Here’s what they had to say about our great city:

AUSTIN, TEXAS
Starting in Austin and stretching 85 miles northwest of the city, the Highland Lakes region of Texas is a string of six lakes known for boating and fishing, and as a popular retirement area. But it's also a magnet for younger people because of the healthy economy (which is not dependent on just one industry) and the outdoor lifestyle. By far the most popular of the waterways are the two lakes closest to the city of Austin: Lake Austin and Lake Travis. Each has its distinct advantages.

"The environments are very different," says Marla Schwartz, assistant manager of Lake Austin Marina. "Lake Austin is a lot more focused on skiing and wakeboarding. Lake Travis has more big boats."

To put the general atmosphere in perspective, there are more than a dozen marinas on Lake Travis. And in an effort to keep up with the growing demand, lakefront communities - Lakeway, Briarcliff, Lago Vista and many others - have sprouted up on the water.

Scorecard (scale of 1-5)
Waterfront Availability: 5
Ease for Boaters: 4
Strong Boat-Related Business: 4
Number of Good Boating Days: 4

To read the complete article & see the other 9 cities on the list, CLICK HERE.