Luxe Austin Homes

"River City Capital plans 700-plus apartments near Tesla, airport"

Austin Business Journal reports, "River City Capital Partners is planning a big apartment complex in Southeast Austin near the airport.

The project is set to include more than 700 apartments northwest of Austin-Bergstrom International Airport, according to site plans filed with the city. That's about a 15-minute drive from Tesla's Gigafactory, which has ramped up to more than 20,000 employees. The project will be developed in multiple phases and will have an affordability component.

River City Capital did not respond to requests for comment.

The project will rise on about six acres at 6610 E. Riverside Drive and will consist of 708 apartments. While the site plan did not indicate the total square footage of the project, it did specify…

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"Reports: Austin home prices dropping, housing demand cooling off"

"The Austin Board of Realtors says buyers are willing to enter the market, despite higher interest rates. However, Zillow says the demand for houses is cooling off."

KVUE reports, "home prices are dropping in Central Texas, and the housing market overall is cooling off. That's according to new reports from both the Austin Board of Realtors (ABoR) and Zillow.

According to ABoR's October report, the median home price in the Austin-Round Rock area is $435,000. That's a 7.5% drop from a year ago.

The report also shows residential home sales are up about 4%, which experts say shows buyers are still willing to enter the housing market, despite higher interest rates.

In October, homes spent an average of 68 days on the market,…

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"Foreign buyers boost Texas housing market"

TheRealDeal reports, "an influx of international home buyers is providing a boost to Central Texas’ housing market. 

Over a 12-month stretch that ended in March, foreign homebuyers spent $609 million in Central Texas, accounting for 3 percent of sales dollar volume in the Austin region, the Austin American-Statesman reported, citing a study by the Austin Board of Realtors. 

“The Central Texas region continues to be a magnet for international homebuyers and investors,” Ashley Jackson, president of the Austin Board of Realtors, told the outlet. “One in six new Austin-area residents come from abroad.”

India was the primary source of international homebuyers for the second consecutive year, accounting for 21 percent of transactions among foreign…

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"What Is an Origination Fee, and How Much Does It Cost?"

Realtor.com writes, "in the seemingly never-ending mortgage lexicon of home buying and selling, one term in particular stands out as a source of confusion: the origination fee. What is an origination fee? It’s something every homeowner needs to understand. And the good news is that it’s not actually that complicated.

In basic terms, an origination fee—sometimes referred to as a discount fee—is money that a lender or bank charges a client to complete a loan transaction. An origination fee can encompass a variety of different fees added together, says Mark Ventrone, owner and broker with ABLEnding, based in California and Arizona. It can include underwriting fees, administrative fees, processing fees, discount fees (also known as points), and any…

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"Despite challenges, international homebuyers juice Central Texas' real estate market"

Austin Amerian-Statesman shares, "Mandar and Asmita Shinde are international homebuyers from India who, after seven years of living in Seattle, now call Austin home. 

Mandar Shinde, a tech business developer for Amazon, originally came to the U.S. from Nagpur, India.

He said Nagpur has similar weather to Austin, so "it literally feels like home here."

Since January, he and his wife, both 40, have been leasing a home in Liberty Hill. They are paying $2,375 a month in rent for a three-bedroom house with about 1,900 square feet, including a study.

But by next summer the Shindes and their 4-year-old son, Jai Shinde, plan to move into a new home in Leander once the house, which Perry Homes will start building soon, is completed. They expect to…

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"Endeavor plans big industrial project on 100 acres north of Austin"

Austin Business Journal reports, "Endeavor Real Estate Group plans to transform a large swath of land outside Austin into an industrial development.

The project is set to rise on more than 100 acres off State Highway 130 and Pecan Street in Pflugerville, according to several construction filings with the Texas Department of Licensing and Regulation. The number of buildings planned on the site and the total square footage of the project are unknown, but the filings indicate at least four buildings will be built, ranging from 132,214 to 186,415 square feet each. The buildings will be speculative warehouses, according to TDLR.

Endeavor did not provide comment on the project. It should be noted that information found on TDLR filings are preliminary…

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"Secure Generational Wealth: Types of Trusts You Can Use To Transfer Property To Your Children"

Realtor.com writes, "thinking about what you will do with your house and other assets when you pass away is not exactly fun. Yet, estate planning is something you can’t put off if you want to pass your home down to your children and ensure they benefit from your lifetime of hard work.

Sure, you can name your heirs in your will, but a trust is a more effective way for your offspring to inherit your home.

With a trust, you bypass the long and tedious process of probate court. Trusts can also be set up to protect and preserve the family property and assets for future generations. Here’s what you need to know about the types of trusts that will protect your assets for your children.

There are many types of trusts, but the two primary ones used by…

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"Texas Triangle real estate markets best in U.S. going into 2024"

TheRealDeal writes, "real estate in the Texas Triangle is magnetic, according to the Urban Land Institute.

Austin has the fifth-best real estate market in the nation going into 2024, the Austin Business Journal reported, citing the ULI’s Emerging Trends in Real Estate study, which compiled data and insights from over 2,000 industry experts to analyze shifts in the market and make predictions for the coming year. 

Austin’s ranking, down from No. 3 last year, reflects the city’s status as a “magnet city,” attracting both people and companies. Over recent years, Austin has seen significant investments from major corporations, such as Tesla and Samsung, which have drawn substantial business to the area. 

The city’s industrial sector is thriving,…

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"Austin real estate market still burning hot, according to Urban Land Institute study"

Austin Business Journal writes, "Austin’s real estate market is still burning at a supernova level, according to a new study.

The Urban Land Institute, which focuses on real estate and land use, released its widely respected 2024 Emerging Trends in Real Estate report on Oct. 31. The report compiled data and insights from over 2,000 real estate industry experts to explore shifts and trends in the property sector and predict 10 markets to watch for the coming year.

Austin ranked fifth on the list this year, down from No. 3 last year. The rest of the top five was rounded out by other Sunbelt cities: Nashville at No. 1, then Phoenix, Dallas-Fort Worth and Atlanta.

ULI conducted the study in partnership with PricewaterhouseCoopers, a professional…

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"Austin is abolishing parking requirements to bring down runaway home prices and rents"

Business Insider reports, "one of the biggest cities in one of the most car-dependent states in the country is cracking down on parking to deal with its housing affordability crisis.

Austin, Texas is getting rid of requirements that new construction — from single-family homes to shopping malls — build parking spots. The City Council voted eight to two last Thursday to eliminate its so-called "parking minimums," which mandate at least two parking spots for every single-family home and one-and-a-half spots for every one-bedroom apartment, with an additional half-spot for each extra bedroom.

The regulatory change won't eliminate existing parking or stop developers from building parking, it will just end a mandate that they build a certain number of…

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