Travis County is considering increased fees for reviews such as traffic impact analysis. MIKE CHRISTEN/ABJ

Austin Business Journal reports, "developers working in Travis County may face increased construction and permitting fees in the months ahead.

Travis County Commissioners Court is considering increasing existing development fees and implementing new ones for a variety of services including traffic impact analysis, on-site sewage facilities and floodplain permits, in addition to requests for variances and exceptions associated with development review.

If passed, this would be the first change to the county’s development fee structure since 2016 and generate millions in annual income for the county.

With already long wait times for county development review, which increase the cost of new construction, commissioners stress that any additional…

26 Views, 0 Comments

PRNewswire reports, "Texas condominium and townhome remained steady between July 2021 and June 2022, compared to the same period the previous year, according to the 2022 edition of the Texas Condominium Sales Report released today by Texas Realtors. The number of condominiums sold across the state slightly decreased 0.2% to 17,164 sales, while townhome sales remained virtually the same at 11,575 sales (compared to 11,579 last year).

Texas Condominium Sales by the Numbers 2022 Texas Condominium Sales by the Numbers 2022

 

The report analyzes condominium and townhome data statewide as well as the Austin-Round Rock, Dallas-Fort Worth-Arlington, El Paso, Houston-The Woodlands-Sugar Land, McAllen-Edinburg-Mission and San Antonio-New Braunfels metropolitan…

25 Views, 0 Comments

Downtown Austin skyline view with Lady Bird Lake, Butler Metro Park, and various bridges in the foreground.Davel5957 | E+ | Getty Images

CNBC writes, "even as more workers report to an office than did a year ago, hybrid work that allows them to work from home at least part of the time remains the dominant trend.

More than half of people with remote-capable jobs expect to work in a hybrid arrangement by the end of the year, according to Gallup, and online searches for hybrid jobs are up by 130% in the last year, according to IT-recruiting firm Frank Recruitment Group.

As far as being able to work from home, at least some of the time, and commanding high pay goes, several major tech hubs still lead the way. More than a quarter of hybrid jobs in San Francisco and Seattle pay more than $100,000 per year, according to a report from SimpleTexting, a text message marketing service.

47 Views, 0 Comments

Getty Images

While mortgage rates are rarely great conversation fodder over Thanksgiving dinner, this Thanksgiving is a whole different story. If there’s a homebuyer or seller at your table, you can bet your good gravy the topic will pop up.

After all, mortgage rates have more than doubled throughout 2022, blasting past the 7% threshold and hitting a 20-year high in late October.

Yet in the past two weeks, there’s been an astonishing reprieve.

We’ll take a look at the latest statistics that have made the American dream of homebuying such a roller-coaster ride this year in our column “How’s the Housing Market This Week?” And lo and behold, the overall message this Thanksgiving week is actually good news.

Mortgage rates fell again

The headliner is…

30 Views, 0 Comments

For the Southwest Austin market, median prices continued to increase 5.4% from October 2021 to $575,750. (Weston Warner/Community Impact)The latest Austin Board of Realtors report shows prices in the Southwest Austin housing market continue to increase while the number of sales continues to decrease.

Although the Austin housing market continues to show signs of stabilization, with fewer sales and more available inventory in the markets, prices continue to be higher compared to last year, according to the October ABoR report.

“Austin’s housing market is still growing, just at a different pace,” ABoR President Cord Shiflet said in a press release. “We’re entering the time of year that is historically a quieter time for home sales. With more available inventory than our area has seen in a decade and price growth stabilizing, buyers have more options today than ever before. Now is the time for…

25 Views, 0 Comments

There's no question that last week was an exciting one for rates. On Wednesday, the average 30yr fixed was fairly close to the highest levels since 2002. The following afternoon, it had fallen more than half a percent to the lowest level in nearly 2 months--the biggest single day drop on record.  

While rates are still very high relative to anything but the past 8 weeks, it was a promising step in the right direction.  It raised hopes for a bigger picture shift after the fastest rate spike in 40 years.  

As the new week got underway, rates managed to hold onto their newfound gains relatively well and with minimal volatility on average.  Things may have been better were it not for a concerted effort on the part of the Fed to remind the market not…

35 Views, 0 Comments

(Design by Realtor.com / Graph courtesy of Freddie Mac / Getty Images (2))

Realtor.com writes, "mortgage rates have skyrocketed this year, scaring many would-be homebuyers and sellers out of the market.

But even when rates seesaw lower, as they did this week, it still takes a toll on the housing market.

Why? Because when financial conditions are so erratic and unsettled, many would rather wait it out.

“Today’s homebuyers and sellers are dealing not just with higher housing costs, but more uncertainty as a result of fluctuating mortgage rates,” Realtor.com® Chief Economist Danielle Hale says in her weekly analysis. “The uncertainty is leading to hesitation.”

We explore the ramifications of when borrowing costs zigzag all over the place, keeping both homebuyers and sellers on edge, in our column “How’s the Housing…

28 Views, 0 Comments

Round Rock, Pflugerville and Hutto had a combined total of 349 closed home sales in October, according to data from the Austin Board of Realtors. (Carson Ganong/Community Impact)

Community Impact writes, "the latest data from the Austin Board of Realtors shows a continuing trend of stabilizing home prices and supply in Round Rock, Pflugerville and Hutto.

According to the ABoR's monthly report for October, the median price of a home sold across the three cities in October was $457,876. While a slight increase over September's median price of $450,000, that price is still lower than the prior two months—$475,000 in August and $476,458 in July.

Additionally, $457,876 is a 5.4% year-over-year increase from October 2021's median price of $434,495.

By comparison, the broader Central Texas market saw a median sale price of $421,149 in October, while the city of Austin saw a $555,000 median sale price.

ABoR President Cord Shiflet said…

27 Views, 0 Comments

Wilson Towers will rise 1,035 feet in downtown Austin, making it the tallest building in Texas upon completion. Rendering courtesy of HKS Inc.

REBusiness Online reports, "Wilson Capital, an Austin-based real estate development firm, has unveiled plans for Wilson Towers, an 80-story apartment building in Austin. Totaling 450 residential units and rising 1,035 feet, the development would become the tallest building in Texas upon completion.

The property is located at 410 E. Fifth St. in the heart of Austin’s downtown. It is less than a block from the MetroRail Downtown station, three blocks from the Congress Avenue retail and restaurant district, and six blocks from the Texas State Capitol building. Construction is scheduled to begin this summer.

According to local real estate publication Towers, the project is a massive expansion upon previously released redevelopment plans for the site…

26 Views, 0 Comments

Robert Reffkin (Compass, Getty)

TheRealDeal writes, "Compass shares climbed to a nearly three-month high Friday after an earnings report revealed mounting losses but gains in market share and progress in its cost-cutting efforts.

The run-up began Thursday, before earnings were released at the market close. The share price gained 32 percent that day, then another 73 percent in the first hour of trading Friday before retreating a bit.

The brokerage’s stock was hovering around $3.50 at midday, up nearly 50 percent since markets opened Friday morning and 90 percent from Wednesday afternoon, when it fell to an all-time low of $1.85.

The iShares U.S. Real Estate ETF, an index that tracks the broader real estate sector, stood at $88.04 per share, up 7.2 percent from Wednesday…

27 Views, 0 Comments