Luxe Austin Homes - May, 2024

"Why reducing the minimum lot size for single-family homes could create a more attainable Austin"

Austin Business Journal writes, "Austin has a housing crisis with a lack of housing considered affordable to the majority of its residents. Professionals including teachers, EMS workers, firefighters and recent college graduates are being priced out of the communities they serve. Increasing mortgage rates, elevated home prices and limited inventory of affordable homes are some of the barriers to homeownership in Austin, particularly for would-be first-time buyers. To afford a $540,000 home, Austin’s median sales price in 2023, a household must make $180,000. This makes it extremely difficult for many to purchase a home here, driving them out of Austin and into the suburbs. The bottom line is that homeownership is unaffordable and unattainable to many…

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"Austin home prices rise, but so do choices for buyers"

Austin Business Journal writes, "As spring rolls on, Austin’s housing inventory continues to grow.

April saw an increase in active and new home listings in the region, as well as pending and closed sales, according to the most recent market data from Unlock MLS published on the Austin Board of Realtors' website.

Unfortunately for home buyers, the median sales price of a home in the metro also creeped up in an already-pricey environment due to elevated interest rates. Still, the increase in inventory has resulted in an uptick in the number of home for sale at many price points, even those priced more affordably.

“The MSA experienced an increase in sales, indicating more opportunity in the market for all buyers,” stated Clare Losey, Unlock MLS…

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"Room to grow: Why Austin needs more homes"

Austin Business Journal shares, "It’s no secret that the Austin region has flourished over the past two decades, producing one of the greatest economic development success stories of the past half-century. Texas has consistently been named one of the best states to do business – with Austin helping to lead the way – and three of the top four fastest-growing cities in the country are located in Central Texas. Austin’s economy consistently outperforms national averages except for one glaring exception – housing.*

Austin desperately needs more housing. Our housing market’s severe undersupply of homes, specifically for low- and middle-income buyers, is a challenge our city must overcome not just for our regional economy, but for the people who live and…

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"Is Austin’s hot housing market flipping in favor of buyers?"

Yahoo Finance writes, "The frenzied homebuying days in Austin, Texas, that saw some buyers offer six figures over asking price are gone.

The Texas capital, where the average home price soared by $170,000 during the COVID pandemic, is now seeing major price corrections: The median price per square foot is down 9.5% from its pandemic peak two years ago, according to Realtor.com. As of April, the median list price stood at $557,000.

Austin’s real estate boom was driven by a sudden influx of workers, who were newly remote and suddenly more mobile thanks to early COVID office closures. They encountered a waning supply of inventory, and home prices subsequently spiked, dealing a blow to the city’s affordability.

However, as mortgage rates increase,…

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"Hill Country town welcomes peach season with fruity festival and rodeo"

CultureMap Austin writes, "Peach season has begun in Texas. Get ready to start seeing the fuzzy little fruits at farmers markets and on seasonal menus. Austinites who just can't get enough of the sweet stone fruit can take about an hour's drive out to Stonewall, Texas, for the 63rd annual Peach Jamboree and Rodeo from June 21-22.

Things actually kick off on June 20; The first day eases folks into the festivities with a slack rodeo (i.e. unofficial events that spilled over from a very full rodeo schedule) at 8 pm and live music by dance hall band Wagon Aces at 10 pm.

The official rodeo starts the next day at 6 pm, with mutton bustin' — children riding sheep as an adult would ride a bull — and an introduction to contestants vying for the title of…

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"Triada gets green light for master-planned community near Elgin"

Austin Business Journal shares, "A real estate developer has secured approval to build a 272-acre master-planned community near Elgin called Triada, potentially bringing 875 homes to the area as well as a park and sports complex.

Pflugerville-based Qualico Communities — a subsidiary of Canada's Qualico — on May 7 won approval from the Elgin City Council for a slew of agreements to help with the project north of U.S. Highway 290 and west of County Line Road northeast of Austin.

Representatives of the company said in a May 8 announcement that the development will offer a range of housing options, along with a 6-acre amenity center with a fitness facility, resort-style pool, playscape, shade structure and two pickleball courts. It also will have 55…

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"Construction resumes on some StoryBuilt developments to maximize sale value"

Austin Business Journal reports, "Construction is picking back up on some projects left incomplete by embattled real estate firm StoryBuilt.

Los Angeles-based Stapleton Group, which was appointed as StoryBuilt's receiver last summer to fix its finances, has resumed construction on some single-family homes in StoryBuilt's $2 billion development pipeline that's up for sale, according to an April 29 report. The goal is to maximize the sale value of the projects. Additionally, an East Austin development site is close to being sold in a deal expected to yield “several million dollars," according to the report.

Stapleton Group "plans to complete the sale of the remaining real estate assets, terminate all employees, complete the construction and sale…

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"Forbes declares these Texas schools new Ivy Leagues"

AUSTIN (KXAN) — "New reporting from Forbes published last week outlines a host of college campuses employers are turning to instead of Ivy League institutions — including two in Texas.

The University of Texas at Austin and Rice University joined the rankings of new public and private school elites which are “attracting the smartest students and plaudits from employers.”

Forbes’ researchers said the evaluation came as the traditional Ivy League institutions have “faced a barrage of complaints in recent years” related to admissions policies, grade inflations at several elite schools and university officials’ responses to on-campus protests regarding the Israel-Hamas War.

For Forbes’ methodology, researchers removed the eight classic Ivy League…

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Barton Creek Lakeside, Where Serenity Meets Luxury

Nestled in the heart of Spicewood, Barton Creek Lakeside beckons with its allure of exclusivity and tranquility. This 24/7 guard-gated, country club community boasts a picturesque waterfront setting that has captivated residents for decades. Stepping into Barton Creek Lakeside feels like entering a world of timeless elegance and natural beauty.

Dating back to the late 1980s and extending into the early 2000s, Barton Creek Lakeside offers a diverse array of housing options, ranging from cozy starter homes to opulent waterfront or golf course estates. This diversity ensures that there's something for everyone, regardless of where they are in life's journey.

One of the defining features of Barton Creek Lakeside is its wealth of recreational…

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"Five questions with Austin's top multifamily developer"

Austin Business Journal writes, "Multifamily development in Austin has slowed dramatically.

In April, 29,669 multifamily units were under construction across 104 communities in the metro, compared to 50,393 units under construction in 178 communities during the same month last year, according to ApartmentData.com.

The Journeyman Group ranked at the top of ABJ's latest list of multifamily real estate developers, with 3,944 units in the works or delivered in the Austin area last year. Journeyman Group has an additional 1,613 units planned for the area.

Alliance Residential ranked second on the list with 3,089 units in 2023, while The NRP Group took the No. 3 spot with 2,442 units. Wilson Capital ranked fourth with 2,135 units and Endeavor…

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