Phase II of the HOME Initiative builds upon the first phase by changing zoning practices to allow smaller lots.  Photo courtesy of Whisper Valley

ATX Today reports, "Austin City Council will vote on Phase II of the HOME Initiative — a move that would reduce the minimum size of a single-family lot — as early as May.

The council passed the first phase of the HOME Initiative, which stands for Home Options for Middle-income Empowerment, in December 2023. In part, the decision increased the maximum number of units from one to three on certain single-family lots.

This new phase would change single-family lot minimums from 5,750 sqft to 2,000 sqft, something the Austin Board of Realtors said could improve home affordability moving forward.

Why is this under consideration?

Proponents say passage of the new phase could alleviate the housing shortage by allowing construction of 87 to 871 new…

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Relocations between Texas and Californians resulted in a 60,000-resident net increase to Texas' total population. TEXAS REALTORS

Austin Business Journal reports, "The Lone Star State continues to be a magnet for people moving out of California.

According to Texas Realtors, a professional organization for the state's real estate industry, the number of relocations from California to Texas surpassed any other state-to-state relocations in the country. The group's 2024 Relocation Report is based on U.S. Census data from 2022.

An estimated 102,000 Californians moved to Texas that year, the report shows. In addition, more than 41,000 Floridians moved to Texas, as did 30,000 New Yorkers. Illinois, Louisiana, Colorado, and Oklahoma each saw roughly 25,000 of their residents move to Texas in 2022.

In total, about 668,000 people moved to the Lone Star State from other states in…

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Austin American-Statesman writes, "With the typical busy spring buying season upon us, what's happening in the Austin-area housing market?

The Austin Board of Realtors just released its monthly housing report, which shows that there were 4,714 new home listings across the Austin-Round Rock-Georgetown region last month, 10.2% more over the prior March. The increase has led to four months of inventory in multiple parts of the Central Texas region as the market continues to stabilize, the board said.

The board said 2,563 homes sold last month, down 0.3% from March 2023. The median price last month was flat year-over-year, with half of the homes selling for more than $450,000 and half for less.

The numbers indicate that homeowners have confidence…

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CultureMap Austin reports, "more homes hit the market in the Austin area in March, inspiring confidence among home sellers while simultaneously boosting options for first-time homebuyers, according to the latest real estate report by Unlock MLS and the Austin Board of Realtors (ABoR).

There were more than 4,700 new home listings placed on the market in the Austin-Round Rock-Georgetown metropolitan statistical area (MSA) in March, which was a 10.2 percent increase year-over-year from March 2023. Housing inventory in the Austin area has now climbed for two straight months, after a previous real estate report showed more than 3,900 new home listings were added in the month of February.

"In an era marked by economic resilience and favorable market…

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Austin American-Statesman writes, "This year's appraisal notices — an annual spring ritual often accompanied by fear and loathing and, on occasion, a sigh of relief — are on their way to Travis County residential and commercial property owners.

Overall, the median market value of homes in the county declined about 7%, Travis County Chief Appraiser Leana Mann said Thursday. While some homeowners will see their values decline, others will see increases, and some values could be relatively unchanged from last year.

How do appraisal values this year compare with last year's?

The 2024 median market value for a residential property in Travis County is $551,419, down from last year's median of $592,819, the appraisal district said. The market value…

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Realtor.com writes, "One oft-forgtten room that can always benefit from a seasonal refresh is the bedroom. And more specifically, bedding is a small upgrade that can make a big difference.

With the weather warming, we say it’s time to shed those heavy winter quilts and swap them for something lighter.

So we’ve scouted out five fresh spring looks from Instagram that incorporate natural motifs, playful details, and inviting textures. These will make your bedroom the perfect cozy haven for all those rainy spring weekends and maybe even help you catch a few extra winks.

Here are our top picks for trending, spring-themed bedding this season.

1. Cotton, block-print quilt

If you’re ready to store your winter quilt, swap it out for something a…

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An Austin real estate investor has a plan to redevelop Barton Springs Apartments. The project would more than triple the total number of residences on the existing site. CITY OF AUSTIN

Austin Business Journal reports, "A plan to demolish a 40-unit apartment complex near Barton Springs Road to make way for a bigger one is set to be considered by City Council later this month.

The project at 1725 Toomey Road — on a less-than 1-acre tract sandwiched between Butler Shores and the original Chuy’s restaurant — would replace the existing Barton Springs Apartments with a new building containing more than 203 units.

Property owner Greg Smith of First Austin Properties is seeking a zoning change for the location to remove a conditional overlay that restricts building height to under 75 feet. Aside from the conditional overlay, the property has the city's highest-density multifamily zoning.

The exact height and other details of the…

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Culturemap Austin shares, "It's not easy to buy a home anywhere, but folks in Austin are doing way better than average, according to Zillow. Texas' capital ranked No. 5 among the top 10 U.S. cities for buying a first home.

In 2023, new homebuyers occupied the largest slice of the market since the report started in 2018, making up about half of all buyers. The demographic was only 37 percent in 2021. It cites the "rate lock" effect for keeping "repeat buyers" from moving on too quickly and abandoning their lower mortgage rates. Hopefully strength in numbers gives newcomers a little more power against flippers and developers.

The new Zillow report further helps follow purchasing power, identifying places with a larger selection of homes and more…

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More than $363 billion in property taxes were levied on single-family homes last year, up almost 7% from 2022 and the largest hike in the past five years, according to Attom Data Solutions LLC. SMOLAW11

Austin Business Journal writes, "Many U.S. homeowners saw their property tax bills rise last year — perhaps substantially, depending on market.

In 2023, $363.3 billion in property taxes were levied on single-family homes, up 6.9% from $339.8 billion in 2022, according to an analysis of 89.4 million U.S. single-family homes by Attom Data Solutions LLC. That increase is nearly double the 3.6% growth rate seen in 2022 and is the largest hike in the past five years.

The average tax on single-family homes increased 4.1% in 2023, to $4,062.

Attom CEO Rob Barber wasn't available for a phone interview by deadline, but in response to emailed questions, he said the reason behind substantial property tax increases for homeowners can vary widely from one…

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Gregg Ranch is a notable master-planned community underway in Marble Falls. MONA SHIELD PAYNE

Austin Business Journal writes, "In Marble Falls, Gregg Ranch continues to grow.

The 240-acre community at the southern end of Marble Falls was touted in 2020 as the first large-scale development in the city in decades, with around 1,250 homes planned. Pulte Homes and Vogel Builders have built homes in the community, and Arizona-based Gregg Ranch developer Harvard Investments announced April 2 that Colorado-based Richmond American Homes has also signed on to the project.

The Richmond homes at Gregg Ranch will range from 1,687 to 3,000 square feet, with two- to six-bedroom floor plans. Richmond will begin with 62 home sites for its first two phases of construction and is under contract to buy 113 lots in a third phase of construction.

Homes…

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