“The Johnny will provide residents with sophisticated living in a boutique development..." said Geyser Group CEO Michael Bernstein. Photo courtesy of The Geyser Group

CultureMap Austin writes, "Austinites who want to have a sophisticated experience while living near the heart of the city can find it in a newly-constructed, multi-family development complex in Highland this April.

The Johnny apartment complex will begin leasing their 16 affordable housing units and 60 market-rate units on April 1, according to their website. Located at 613 West St. John’s Avenue, the complex is just an eight-minute walk (less than half a mile) from the Metro Rail’s Crestview Station, making it a great transportation option for residents.

Construction of the complex began in November 2022, with design and development done in a partnership between Austin-based real estate firms The Geyser Group and Sephira Group.

“The Johnny…

172 Views, 0 Comments

Austin’s apartment construction rate is three times larger than the average rate in 50 of the largest American metro. Photo by Cosmic Timetraveler on Unsplash

CultureMap Austin writes, "if you think new apartment buildings have been popping up nonstop all around the city within the last couple of years, you’d be right. The Austin-Round Rock metro area is experiencing one of the biggest apartment construction booms in the nation, in an effort to alleviate an ongoing affordability crisis.

But while increasing multi-family housing is solving part of the problem, long term it keeps homeownership out of arm’s reach for younger Americans. That’s according to a new report from apartment rental “matchmaker” and marketplace Apartment List.

Austin has spent decades building more housing for its residents, and 2022 saw the highest number – 18.3 – of new unit permits being issued per thousand residents. Austin’s…

177 Views, 0 Comments

Cotton Gateway would consist of no more than 1,600 homes on 491 acres. SCREENSHOT OF CALDWELL COUNTY DOCUMENTS

Austin Business Journal reports, "the Caldwell County Commissioners Court unanimously approved March 28 a development agreement between the county and a subsidiary of Lennar Corp. for a neighborhood of up to 1,600 homes in the rural area south of Austin.

The development agreement will allow Lennar — one of the region's busiest homebuilders — to transform the 491-acre parcel into a large community of single-family homes, plus parkland and amenities, according to county documents. Cotton Gateway, as the development is currently known, would be a significant injection of new homes in Caldwell County, part of the region stretching between Austin and San Antonio that some experts believe will evolve into the state’s next metroplex.

The development…

158 Views, 0 Comments

Cotton Gateway would consist up to 1,600 homes on 491 acres, according to the development agreement. SCREENSHOT OF CALDWELL COUNTY DOCUMENTS

Austin Business Journal repots, "the Caldwell County Commissioners Court will consider March 28 the approval of a development agreement with Lennar Homes of Texas Land and Construction Ltd. to build a 491-acre neighborhood.

The single-family, master-planned community to be known as Cotton Gateway would be located across the road from the San Marcos Regional Airport at State Highway 21 and William Pettus Road, according to the meeting agenda, and would consist of up to 1,600 lots. The development brings with it a number of obligations for both Lennar and Caldwell County.

Florida-based Lennar Corp. (NYSE: LEN) did not immediately respond to requests for comment.

According to the development agreement, all single-family lots would be a minimum…

163 Views, 0 Comments

World-class dining, a high standard of living, and picture-perfect beaches await newcomers in these Texas cities. PHOTO: MARIAH TYLER/TRAVEL+LEISURE

Everything is bigger and, as it turns out, better, in Texas. Over the past couple of years, the Lone Star State has ranked among the top states for relocation. In 2021, Texas gained the most residents, according to data from the United States Postal Service, and in 2022, it came in second after Florida. And while everyone has different reasons for moving, general factors such as a stable economy, a high number of well-paying jobs, safety, good schools, and recreational opportunities certainly make the decision easier. And Texas delivers in all of these areas.

With hundreds of miles of coastline along the Gulf of Mexico, two majestic national parks (Big Bend and Guadalupe Mountains), more than 40 mountain ranges, scenic vistas, popular festivals,…

227 Views, 0 Comments

(Robert Knopes/Universal Images Group via Getty Images)

Realtor.com writes, "where are America’s new homes?

That question keeps boiling up to the surface, as buyers grapple with the current state of the housing market. High prices and soaring mortgage rates are driving affordability into the dirt. And lurking at the center of all buyer challenges is one towering and inescapable bugaboo: the lack of available homes. It’s simple math. Fewer homes = increased competition, higher prices, and epic levels of frustration.

Last year, new-home construction permits for single-family dwellings declined by about 14% over the previous year—and it’s hardly a new trend. Since the 1990s, U.S. housing starts per 1,000 households have been about half of what they were for the preceding 30 years. The building slowdown…

194 Views, 0 Comments

The housing market in the Lake Travis-Westlake area has cooled slightly, according to data from the Austin Board of Realtors' February market report. (Courtesy Adobe Stock)

Community Impact shares, "the housing market in the Lake Travis-Westlake area has cooled slightly, according to data from the Austin Board of Realtors' February report.

The median home price fell to $780,000 in February from $850,000 in January, a 5.9% decrease from February 2022.

Active listings in the area have increased from 565 in January to 643 in February, while listings spend more days on the market. On average, active listings were spending 87 days on the market in February compared to 74 days in January.

“Austin’s housing market is trending in the right direction,” ABoR President Ashley Jackson said. “Buyers have more options and negotiating power with each passing month, and sellers have more time to make their next move.”

Prior…

179 Views, 0 Comments

"Buyers have more options and negotiating power with each passing month, and sellers have more time to make their next move,” said 2023 ABoR president Ashley Jackson. Photo courtesy of Realty Austin

Culturemap Austin writes, "confidence in the real estate market has grown since February, with buyers gaining more leverage through inventory increases across the Austin-Round Rock metro area, according to the latest monthly report from the Austin Board of Realtors (ABoR).

The report shows that housing inventory in February spent an average of 84 days on the market, a massive 55-day jump from February of 2022. The current median home price for the metro area is $436,419, a 12 percent drop from the previous year.

“Austin’s housing market is trending in the right direction. Buyers have more options and negotiating power with each passing month, and sellers have more time to make their next move,” said 2023 ABoR president Ashley Jackson in a press…

176 Views, 0 Comments

KXAN Austin writes, "wondering when the best time is to list your Austin home? New realtor.com data states it’s coming up soon.

The study shows the week of April 16-22 is the best time to list a home in the Austin-Round Rock metro area. This week is forecast to have above-average prices, above-average buyer demand, a fast market pace and lower competition from other sellers.

This week is also the best week for most other metros in the country, the report said, including the Houston metro. San Antonio’s best week is the following week, April 23. The report said the week of March 26 is the best time to list Dallas-Fort Worth homes — bucking the national trend.

Best times to list your Texas home

“The week of April 16-22 is expected…

208 Views, 0 Comments

Realtor.com writes, "while most Americans rarely worry about their bank, that faith was shaken this week when several (including Silicon Valley, Silvergate, and Signature) went under. Withdrawal runs and stock market chaos ensued, sending ripple effects far and wide. 

Yet by some miracle, one facet of the economy that remained astonishingly unruffled was the housing market—which even showed a glimmer of good news. 

Namely, mortgage rates fell this week to 6.6% for a 30-year fixed-rate mortgage, according to Freddie Mac. This marks the first drop after five weeks of pushing upward, cresting last week at 6.73%.

Plus, homebuyers who are bracing for another hefty rate hike to hit next week when the Federal Reserve meets again may instead find some…

189 Views, 0 Comments