unsold units

FHA loans provide qualified buyers an opportunity to purchase units with loans that they would not otherwise qualify for.

In pariticular, FHA loans allow for smaller down payments, often as low as 3% of the purchase price. Next month, the rules behind these Federal loans will be changed substantially, making many condo projects and buyers ineligible for the first time.

A second Austin condo project has announced plans to close out its condo inventory through a one-day auction.

Bel Air, an 83-unit condo project that opened on South Congress Avenue more than two years ago, has announced plans to sell the remaining 25 units on August 9.

This is the second large condo auction in the Austin market after 20 units were sold in Brazos Place in a packed 90-minute auction on May 17.

The Austonian is one of the most luxurious and desirable downtown projects currently under development.

With an unusually secretive sales process, details on pricing and sales have been hard to come by.