Luxe Austin Homes

"Austin home sales and prices expected to drop in 2024 according to new Realtor.com report"

Austin American-Statesman writes, "soaring home prices in recent years could calm down in 2024 after a report from Realtor.com predicted a drop in both home sales and prices for the Austin-Round Rock Area. 

Specifically, the real estate website predicted home sales in the Austin metro area would fall by 11.7%, while prices would fall by 12.2% compared to both of those marks in 2023. 

Moreover, across the country, the website predicted median home prices would fall by a much smaller 1.7%. However, it should be noted that larger, and recently more expensive, markets are expected to see bigger drops in price. 

How are other Texas housing markets expected to perform in 2024?

While the Austin area is predicted to see the biggest combined…

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"Stream plans to begin East Sixth Street transformation in new year"

Austin Business Journal reports, "a substantial facelift of Austin’s East Sixth Street will begin in the new year.

Stream Realty Partners LP said preliminary preservation work is planned to begin in early January as part of a major restoration of more than 30 properties along the popular street with Congress Avenue to the west and I-35 to the east.

The initial work will focus on restoring the facades and interiors of the Stream-owned buildings that have fallen into disrepair. The majority of interior and exterior work is scheduled to begin late in the first quarter of 2024 and early in the second quarter of the year, according to the developer.

The firm also disclosed that it will begin looking for new tenants in 2024 but it did not share if…

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"Austin considers change to density bonus programs to address public safety needs"

Austin Business Journal reports, "developers working in Austin may eventually have a new tool when seeking additional building height for their projects.

With police and fire response times unacceptable in some cases, City Hall has taken steps toward a new element to its density bonus programs that would offer incentives to developers if they donate land to the city that can be used for public safety facilities.

During its Nov. 30 meeting, Austin City Council approved a resolution directing the city manager’s office to conduct a comprehensive review of the proposal and return to Council next year.

"We are running out of land and property to develop," said Council Member Mackenzie Kelly, who sponsored the resolution. "What I don't want to…

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"Austin No. 1 college town in US, Wallethub says"

Austin Business Journal shares, "WalletHub’s annual list of the best college towns and cities in America is out, and Austin ranked No. 1 again.

Austin has taken the top spot on the list for three consecutive years. The annual list considers wallet friendliness, social environment and academic and economic opportunities.

Central Texas is home to The University of Texas at Austin, Concordia University and St. Edward's University, as well as Huston-Tillotson University and Austin Community College. Austin also has one of the highest average annual job growth rates in the country at 7.04%, according to the report, which WalletHub pointed to as a plus for graduates.

It was also No. 1 when ranked by large city size.

Here are the top 10 best…

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"How To Buy a Home Without a 20% Down Payment"

Realtor.com writes, "one of the first things you’ll hear when you start considering homeownership is that even with a mortgage, you’ll need a hefty chunk of change upfront. Most financial planners recommend putting down a 20% down payment.

On the current national median home price of $420,000, that comes to $84,000. And that’s serious money.

But if you don’t happen to have that kind of cash on hand, you’re not alone. Mortgage expert Bill Banfield notes that the most common barrier to homeownership isn’t being able to afford the monthly mortgage payment—it’s being able to save the down payment.

Thankfully, there are other ways to go about buying a home that doesn’t require you to put 20% down. Here’s a list of where you can find…

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"How Long Does It Take To Buy a House?"

Realtor.com writes, "how long does it take to buy a house? While estimating a timeline for homebuying will depend on many variables, real estate experts estimate that the average time required is around four months.

This timeline is important for buyers to keep in mind for a variety of reasons. Many buyers might hope to time their home purchase with when their rental lease is up. Other buyers might want to pace their house hunt so that they are settled in their new home before the start of school. Still other buyers might also be home sellers who first need to close on the sale of their old house before they can buy their next house.

In short, homebuyers might need to fit their home search into any number of time-sensitive situations, so knowing…

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"Luxury senior living moves into hot Austin neighborhoods"

AXIOS Austin writes, "aiming to win older empty nesters, Austin apartment developers are now including spas and libraries.

Why it matters: More senior communities look like modern luxury apartments.

Driving the news: America is going gray. Baby boomers and their kids make up a growing share of the country's population, according to Census Bureau data.

• In greater Austin, the share of renter households that are 55 or older has hopped from 11.1% in 2005 to 17.6% last year.

What's happening: Apartment developers are courting empty nesters as young as 55 years old, dangling prime locations, easy living and amenities you'd expect at a five-star hotel, senior living expert James Hill with Houston-based Kirksey Architecture tells Axios.

…

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"Report: Austin one of top cities millennials moved to in 2022"

Austin Business Journal reports, "a new study released by financial technology company SmartAsset this month named Austin one of the most popular destinations millennials moved to in 2022. The analysis found one in four millennials moved to a different city last year, with the study ranking cities based on “the highest percentage of the population represented by newly transplanted millennials.”

Austin ranked No. 9 in pulling new residents within the 25 to 44 age range, per the study. The Lone Star State’s capital attracted 103,461 millennials, with the new residents marking 11% of the city’s overall population. The report added the median age in Austin is also in line with that trend, at 34.7 years old.

Austin wasn’t the only Texas city in the…

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"Austin's Zilker Park Annual Tree Lighting Ceremony, Sparkles With 57-Year Tradition"

Hoodline writes, "Austin's holiday spirit flickers to life with the 57th annual Zilker Holiday Tree Lighting Ceremony, a dazzling tradition aglow with over 3,300 lights, set to take place this Sunday, November 26. The city's beloved event, which will run from 6 p.m. to 7 p.m. at 2100 Barton Springs Rd., has enchanted Austinites since the first lighting back in 1967 as per KXAN report.

In a ceremony warmed by the community's eager anticipation, local entertainment, delicious food, and live music, young artists from Austin will experience the honor of lighting up the night.

Winners of the Zilker Holiday Tree art contest, Claire Bonyun and Maya Nolan, will "Flip the Switch!" in their respective junior and senior divisions, a tradition dating back…

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"What Is a FICO Score and How Is It Determined?"

Realtor.com writes, "successfully buying a home hinges on a bunch of numbers, from home prices to mortgage rates. And there’s a lesser-known figure that can make all the difference when realizing your homeownership dreams: your FICO score.

Whenever you want to make a big purchase, like a home, the lender will pull your FICO score, a three-digit number that represents your creditworthiness and is akin to a financial compass in the housing market. This number ranges from 300 to 850 and determines whether you’re approved for a loan, your interest rate, and your mortgage terms.

In essence, your FICO score is one of the many keys that unlock the doors of homeownership. To make sure you’re getting the best deal, you should understand how credit scores…

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