"Casa Rosa" Cool East Austin Commerical Mixed Use Real Estate Opportunity

I am completely smitten by this listing I just found on the Austin MLS today.

"Casa Rosa" sits on bustling East Cesar Chavez, a few blocks east of Pleasant Valley, just a stone's throw from some of Austin's trendiest new eateries, bars, and galleries like Justine's on East 5th (where I waited 2 1/2 hours for a table the other night...sigh).
Built in 1925, Casa Rosa measures a mere 810 square feet and sits on a decent size .16 acre lot (good size for the area). It is already zone mixed use for commercial, retail, or office and is screaming for a visionary to come along and snap it up to make it the next East Austin hipster destination. The list price is $232,000 and it has been on the Austin real estate market for 1 day.

Click here for the full Austin MLS listing or contact me for more information. Note, I do not represent the seller of this property.

East Austin - New Restaurant - East Side Show Room

Last night my hubs and I went out with some friends to celebrate his birthday. We made plans to meet friends at the Shangri-La on East 6th for drinks... but when we got there it was closed. (I know I don't get out much anymore, but I thought the under 30 set still went out on Sunday nights? What's up with that?)

Quite serendipitously, East Side Show Room, this new bistro - lounge - gallery - venue recently opened up at 1100 East 6th Street, and they were open for business. We popped inside and found a wonderfully quirky part French bistro part 19th century curiosity shop inspired scene.

This picture makes it look a bit like just any other bar... but trust... the place was gushing with ambiance and character. Exposed brick walls all around. The specials were written in chalk on the iron beam overhead.

I ordered from their specialty drink list and had a "Pink Pony" which (if I remember right) was a type of gin, crushed ice, cucumber liqueur, and grapefruit juice. It was yummy. The food menu uses only locally procured ingredients. We had a cheese plate that was excellent. Next time we'll stay for dinner.

East Side Show Room is just another addition to the lovely East 6th dining destinations popping up these days. Hope there are many more to come. Oh, and there's a quaint patio out back for dining or siping.

Soma Vida - A New Place for Yoga Austin | East Austin

After several weeks (okay, months) out of the yoga scene, I resolved yesterday to make it happen. Afterall, all work and no exercise does not make for a fit mother/wife/friend. I am doing this for myself AND all the other people in my life.

Yoga Yoga Austin (the yoga chain where basically everyone goes to yoga in Austin) has 5 locations and 100's of classes to meet anyone's schedule. Problem is, I live in East Austin. Going to a one hour yoga class across town easily turns into a 2 hour project. That's just not going to happen with all that I juggle on a daily basis.

Problem solved: Soma Vida Austin, a work/life balance and wellness center located on Rosewood in East Austin, just about 2 miles from the capitol... now offers yoga classes !!! You can find their schedule here. I took out the ol' Blackberry and scheduled myself for 4 yoga classes for the next 2 weeks.

Classes are still ramping up but the cost is on par with Yoga Yoga Austin -- and keep in mind that you are supporting a start up East Austin business with an excellent mission -- to help all of us crazy self employed multi-taskers to achieve balance in our lives. sigh... I love these people.

My Newest Crush - Darling Stucco Bungalow East Austin Home, One Block from Town Lake

How cute is this little bungalow located in East Austin?

It's just a tiny little 2 bedroom, 1 bath, less than 800 square feet -- but also only $224,000 and literally a block from Town Lake. What a wonderful little candidate for a pied-a-terre or weekend retreat.

Address is 1702 Haskell St. Listed by Jules Adams of Jules Homes, Inc. Post a comment if you would like more information!

Live Alternative Theatre in Austin

Last night was a big night.

Began with a "pre-Inaugural Ball" for toddlers at a friends' house in East Austin. I must applaud my friends for holding such a festive party to commemorate this major historical event...for not only the kiddos, but for all of us. My 3 year old daughter was thrilled to don her red and white polka dot flamenco dress (although, bad mommy forgot her dancing shoes...which she brought to my attention just as we pulled up to the party and she still had on her flip flops - I felt just awful). I dug out my grandmother's rhinestone jewelry, a floor length black bridesmaid dress, and a feather boa. My daughter was THRILLED with the attire although a little disappointed when her friend's house didn't have an actual ballroom like she has seen in the movies. (only took 3 minutes to get over this as they tore through the playroom dancing to music from the Nutcracker) Evening was complete with frosted "Obama" sugar cookies and one guest who stamped the back of her green silk charmeuse cocktail dress with Obama's election night victory speech. This dress was AMAZING... and sorry -- once again didn't have a camera handy. I am a moron.

THEN, I met a friend at Salvage Vangaurd Theater, also in East Austin, to take in opening night of "My Bugatti Story", an original play written by Paul Ehrmann, part of the 2009 Frontera fest. I am certainly not a theater critic, but I enjoyed this play immensely. Just over an hour in length, the play takes you through one man's journey of saving his own sanity when he takes on the persona of a Bugatti race car driver and becomes a hero of the French Resistance during WWII in Paris, France. Lively characters and actors. Interesting and noble concept of one's ability to save his own sanity. Next performances for "My Bugatti Story" are Saturday 1/24 at 7:45 PM, Sunday 1/25 at 5:45 PM, and Saturday 1/31 at 12:00 PM. Tickets are $10.

Also be sure to check out the rest of Frontera Fest which continues through February 14th. Other local Austin playhouses also participating in the festival include Hyde Park Theatre and Blue Theater. What a wonderful treat to have such intimate, funky venues at our fingertips to enjoy alternative theater. Off to pick out another play to attend.

My Family Portrait - For Real

I am normally not one for the whole family portrait "let's all wear white shirts and jeans" thing... but check this one out!

Taken by Alison Eden, a fab child portrait photographer here in Austin...and buttoned-up family portraits really aren't her thing either.

Condo Projects that Look/Act Like Houses in Central Austin?

$325K Watson St. - near Crestview Station

Wondering about the large number of 2 unit detached condo projects in Central Austin. These are new construction properties that look like single family homes, but that are technically classified and sold as condominiums. This is happening quite a bit in Central Austin where land is becoming increasingly scarce and builders buy one full size lot, tear down the existing structure and put two, even bigger properties on the lot. The builder may subdivide the lot and classify the dwellings as single family homes, however, sometimes the lot size is too small to qualify the dwelling as a single family home. In addition, even if the lot is big enough to qualify as a single family home, the builder has to go through a public hearing to subdivide the property and may be met with adversity from neighbors and neighborhood associations in some of these older Austin neighborhoods. In this case, the builder may prefer to create a condo project, which is just a administrative legal process.

These properties can be wonderful: exquisitely designed, well constructed, close to downtown, well priced, etc. Overall, precisely what you are looking for in a new home. However, before you buy, there are a couple of things to know about these properties before you consider buying one.

1. Mandatory COA: Even though there are just 2 units, there will have to be a COA, which is a legal entity. The COA should have a budget that pays for common grounds liability insurance and tax preparation, at minimum. Be sure that the money you are paying to the COA goes to something of value. As one of the owners, you will be an officer in the COA and have 50% voting rights. If you and your neighbor do not agree on something 100%, then nothing happens. Either everyone agrees or disagrees.

2. Perceived Market Value: Most home buyers are searching for "houses" to buy and therefore, there is a lower perceived value in a condo vs. a single family home. This may be a problem when you go to resell your property. It will actually be listed as a "condo" in the MLS and may not even pop up in potential home buyers' searches.

3. Condo Financing: The underwriting requirements for financing a condominium is changing and financing is getting tougher to obtain as time goes on. Some federally backed loan programs will not finance a condo project that is not at least 50% owner occupied. If your neighboring condo is owned by an investor, it may be difficult for you to find a buyer who can buy your condo with conventional financing when you go to resell.

Some additional condo projects in Central Austin:

$399K Alegria St. - Crestview Area

$325K 2nd St - East Austin

$275K Stacy Ln - 78704