As we all know, rent for Austin area apartments have been soaring. Young adults are looking into purchasing their first homes. Right now is the perfect time to buy. It's a process that can be stressful for first-time homebuyers. Young millennials have backed off the idea of purchasing their first home since the high pandemic prices.
People are growing frustrated with paying a large amount of rent to an apartment. If you do the research though, you might be able to find paying a mortgage is a better option.
“It can hinder the potential buyer's ability to save, they’re going to be spending a higher proportion of their income on repaying that debt than a household that doesn’t otherwise have that debt," said Clare Losey with the Texas Real Estate Research Center.
“The market is slower than we have seen in a few years and there’s more inventory, more homes to choose from. So, what this means for...
Four Seasons Private Residences Lake Austin – Project Update
The Four Seasons Private Residences Lake Austin announced their debut plans early this year. The 145-acre property is said to break ground in February of 2023 featuring unparalleled Lake Austin views from over 3,000 feet of shoreline. The project includes floorplans for condominium homes, penthouses and free-standing villas ranging from 2,500-10,000+ square feet and reservation prices starting at $4.1 million.
Offering world-class property management and top-tier privacy and security, its residents will be able to relax, work and play in their very own luxury oasis all while just 20 minutes from downtown Austin.
The private resort amenities include, but are not limited to:
- Pirate marina and lake clubhouse...
There is a new neighborhood of six multimillion-dollar, high-end homes coming to the suburb of West Lake Hills.
The new 12-acre development, called the Wildcat Club, features six homes on 1- to 4-acre lots with prices starting at $11.75 million. One of the homes (a 9,500-square-foot residence with interiors designed by Fern Santini) already has been sold, and two of the homes are now on the market.
Most of the homes can be customized based on a buyer’s preferences. Amenities include a lounge and wine room, media room, home office, pool, spa, gym, gourmet kitchen, outdoor kitchen, and butler’s pantry. Floor plans range from 5,750 square feet to 9,500 square feet.
Austin-based Foursquare Builders is constructing...
The August 2022 Austin Board of Realtors Stats are here! The average sales price went up 5% year over year to $496,000 in the month of August. Active listings increased to a whopping 170%, causing housing inventory to jump to 2 months of inventory.
“Market shift does not mean that we are in a downturn, and it doesn’t mean that Central Texas home values have been overvalued,” Cord Shiflet, 2022 ABoR president, said. “Home prices are still appreciating, just at a more reasonable rate, that’s more in line with what we have seen historically. Homes are still selling close to list price, which is great news for buyers and healthy for our housing market. If you’ve been thinking about selling your home, it’s important to work with a REALTOR®...
There have been more signs of relief for the Austin housing market. The latest monthly report from Austin Board of Realtors, released Tuesday, August 16, offers indications that the market is continuing to stabilize.
There are still new records to report, but “In every aspect of our market," says Cord Shiflet, 2022 ABoR president, in a release, "Realtors are seeing positive signs that Austin’s housing market continues to normalize.”
One of the most promising signs is an explosion of inventory in the Austin-Round Rock metro area. In July 2022, the region's housing inventory reached 2.7 months — the highest level seen since November...
The July 2022 Austin Board of Realtors Stats are here! The median sales price went up 8% year over year $515,000 in the month of July. Active listings increased to a whopping 167%, causing housing inventory to jump to 2.7 months of inventory - the highest level of inventory since November 2018.
“In every aspect of our market REALTORS® are seeing positive signs that Austin’s housing market continues to normalize,” Cord Shiflet, 2022 ABoR president, said. “On top of rising housing inventory, home price growth is much closer to the 4-5% annual growth that is typical for a healthy market. In addition, homes sold slightly below list price for the first time since December 2020, proving that buyers are gaining negotiating power in the market.”
A brand new project called the Loren at Lady Bird Lake is opening in Austin very soon! The brand mission of The Loren is ultra-luxury, boutique scale, and unique location. The first Loren is operating at The Loren at Pink Beach Bermuda, and Austin will be home to the second location.
The Loren at Lady Bird Lake is going to serve as both a hotel and private residences. It has stunning views of Lady Bird Lake and of course the Austin skyline. It truly has the most ideal location — within walking distance of the central business district, yet away from the craziness of downtown.
"For those who expect nothing short of exceptional, The Loren offers an abundance of...
A new mixed-use project could bring up to 530 housing units and commercial space to the northwest corner of Kenney Fort Boulevard and Hwy. 79 following Round Rock City Council's approval of annexation and rezoning requests as well as a utilities service agreement.
The trio of action items went before council July 28, requesting an 8.955-acre plot of land be rezoned to a planned unit development to allow for mixed residential and commercial use, to be serviced by city water and wastewater utilities and annex 7.287 acres of the property that are not already within the city's limits. The city previously annexed the property's frontage along Hwy. 79 in 1979, according to city documents. All were approved unanimously.
The PUD zoning allows for a maximum build height...
Houston real estate developer, Wan Bridge Group, created a 48-duplex rental community in North Austin after finding great success in the Dallas and Houston markets.
The new development known as Georgetown Heights helps to meet the housing demand in Georgetown which has seen record-breaking growth over the past two years. The project broke ground in September of 2021 and is currently leasing.
Each home in the community features energy-efficient appliances, a two-car garage, a private yard and open floor plan. Properties ranges from 1,500-2,500+ square feet with rent starting at $2,375.
“Residents can expect all the Wan Bridge trademark qualities like modern, thoughtful design, high-quality finishes, excellent service from our property management service, and 24/7 maintenance,” said Ting Qiao, CEO of Wan Bridge.
Click the link to learn...
“The future of construction is here,” claims The Escobedo Group, commenting on their new panelized construction system that creates luxury, prefabricated homes in as little as just 5 months.
The Buda home builders have now constructed over 70 homes for their “DARIO Villas” project which is challenging the status quo that manufactured homes are low-end, cheap, and mass-produced. Buyers choose from a 1,2, or 3 bedroom floorplan ranging from 800-20,000 sq ft and $600,000-$1,000,000 in price.
Construction add-ons include, but are not limited to, roof mounted solar power, battery storage (supplies electricity during power outages), and eco-friendly water collection.
“The ability to construct a well-designed, superior quality home, office or guest house with minimal waste and impact on the job site didn’t exist until now.” –...
Just a few weeks of Summer remain before the 2022-2023 school year begins!
For families with kids, purchasing a home in a good school district is essential. Fortunately, the Austin-area is home to 5 of the top 50 school districts in the state of Texas. With EANES ISD leading the pack at #1, it’s no wonder why so many parents are choosing to purchase homes in the area. Lake Travis, Leander, Dripping Springs, and Round Rock ISD join EANES on the list’s Top 50. Districts are ranked on academics, teaching staff, diversity, sports programs and more. If you are curious to learn more about which district would best suite your family, click the link below to read on:
The June 2022 Austin Board of Realtors Stats are here! The median sales price was up nearly 13% year over year to $537,475 in the month of June. Active listings increased to a record-breaking 217.8%, causing housing inventory to jump to 2.1 months of inventory, up 1.5% from last June.
George Ratiu, senior economist and manager of economic research at Realtor.com, weighed in on the recent increase in inventory.
“When we look at the data across the Austin housing market, it reinforces what we see on a national scale—a combination of cooling demand from the tremendous surge in mortgage rates and rising prices with a noticeable increase in supply. The shift signals welcome news for more buyers who may be ready to embrace a post-pandemic reality and take advantage of more inventory. This increase in supply combined...
Last month, Mueller opened its first-ever boutique hotel. Origin Hotel Austin is a 5 story, 120-room property with a mission to “cultivate exploration of the surrounding area, encourage well-being, and foster connection,” for their guests and neighborhood.
Perfectly placed in the heart of Mueller’s town center, this hotel offers an impressive onsite, 120-seat modern diner, Blue Lacy, that will join Mueller’s list of impressive restaurants including L’Oca, Halcyon, B.D. Riley’s Irish Pub and more.
The hotel caters to many types of travelers. They offer “pup packages” for those traveling with pets, special “camping” packages for kids, state-of-the-art gym space, multiple outdoor gathering spaces, and more!
Click the link to learn more: ...
In the coming months, Austin is set to break ground on a 74-story tower that will host over 350 apartments, 251-room hotel and 686,000 sq ft of office space.
The 98 Red River tower, headed by Lincoln Property Co. and Kairol Residential, will be located on the corner of Cesar Chavez and Red River in the Rainey St district. Once constructed, the 1,000+ foot tower is said to become the tallest tower in the state of Texas, just taller than Texas’ current tallest tower, the JPMorgan Chase Tower located in downtown Houston that stands at a whopping 1,002 feet. There is no set price tag, but the project is projected to cost around $520 million.
Click the link to read more: https://bit.ly/3yvqNvN
A 95-acre, mixed-use project that might feature Manor’s first H-E-B grocery store is in the works.
In mid-June, the city council in the Austin suburb passed financial incentives for the project and approved rezoning for more than 26 acres to accommodate 600 apartments. The property is located at the northwest corner of U.S. Highway 290 and FM 973. It is owned by the Austin-based Butler Family Partnership.
Matt Harriss gave an overview of the project at the council meeting. He is CFO of Butler Family Interests. They handle business and personal affairs for the family of former Austin Mayor Roy Butler. Harriss said H-E-B has a portion of the property under contract and Home Depot has expressed interest in another parcel. H-E-B says it doesn’t have any of the Butler land under contract.
The May 2022 Austin Board of Realtors Stats are out. The median sales price was up 19% year over year to $550,000 in May. Active listings increased a whopping 146% to 4,173. New listings are also up 18%. Homes spent an average of 15 days on the market, indicating that as new homes are listed, they are quickly going under contract.
“The strength of our evolving housing market remains a very important part of Austin’s economy,” Cord Shiflet, 2022 ABoR president, said. “The increase in inventory that we’re seeing is helpful for buyers who have had a hard time finding a home these past two years. However, REALTORS® continue to see homes selling faster than ever before, so working with...
As of Spring 2022, Austin and San Antonio tied for 3rd place on the list of major cities in the U.S. for new home sales. The ranking was based off active listings on Point2, Redfin, Realtor.com and Zillow. For these cities, the number of new homes on the market represented a 42% share of all homes for sale. This is based off homes built in or after 2012.
El Paso topped the list at 51% of new home sales and additional Texas cities including Fort Worth (36% new home sales), Houston (31% new home sales), and Dallas (24% new home sales) made the list’s top 20. Read full article here
Georgetown and Leander have officially been named No.1 and No. 2 on the nation’s fastest growing cities list by the Census Bureau, respectively for population growth from July 2020 to July of 2021. Both cities are the only towns with 50,000+ residents to experience population growth of at least 10% during that time frame. According to the Mayor of Georgetown, Josh Schroder, new residents are attracted the area for “good jobs, safe neighborhoods, and unbeatable parks and events.” Schroeder goes on to say, “People don’t just move here: They fall in love with this town.” With a strong sense of community, family, and outdoor living, it’s no wonder why people are moving to these areas from all over!
Read full article here