Shying away from completely shutting down the city’s parks and trails, Austin will instead reduce parking availability at its parks and convert its most popular trail, the Ann and Roy Butler Hike and Bike Trail along Lady Bird Lake, into a one-way trail in an effort to mitigate potential gatherings.

The move comes as much of the city remains shut down to slow the spread of the coronavirus, the highly contagious upper-respiratory illness that has halted much of daily life across the globe. The changes to the parks system will begin April 13 and be in full force by April 17, according to a press release from the Austin Parks and Recreation Department.

The city shut down all of its parks and trails over the Easter holiday weekend, a historically busy…

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The Goldman Sachs Group Inc. is providing $50 million to be used for small business relief loans administered across the state by community development financial institutions.

Gov. Greg Abbott announced the partnership April 13. Money will be disbursed through the Paycheck Protection Program, or PPP, a new federal tool that small business owners can use to cover payroll and other expenses.

The CDFIs involved include San Antonio-based LiftFund, which will receive $25 million. Goldman Sachs is "actively working" to work with other banks to lend the remaining $25 million, said John Wittman, communications director for Abbott. Austin is home to a number of CDFIs, such as PeopleFund. They are private financial institutions that lend to…

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Austin remains the fastest-growing big city in the country.

Austin has been the fastest-growing major metro in the country for nine straight years, from 2010 to 2019. The continued population explosion remains a major storyline for the Central Texas economy and is reshaping everything from residential real estate to finance. And it takes on extra meanings when seen in light of the COVID-19 pandemic, as Austin becomes an increasingly global city.

However, just what effect COVID-19 will have on growth is uncertain. Real estate and construction was recently deemed an essential business by Texas Governor Greg Abbott, which means home sales will not be stopping.

Our team has been crunching data from the Austin Board of Realtors® Multiple Listing…

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The Grossman & Jones Group now offers private and virtual tours of homes! 

Realtors in Austin are being told they can show properties again across the metro under a new statewide coronavirus order.

After Central Texas' first shelter-in-place orders were announced March 24, the Austin Board of Realtors strongly discouraged its members from in-person showings in certain locations.

"It's our interpretation that showing activity may be allowed in Williamson County, but it's clearly not allowed in Travis County and the city of Austin," ABOR said in a March 25 update.

But now ABOR says things have changed after a March 31 executive order from Gov. Greg Abbott on the state's efforts to contain COVID-19, the disease caused by the novel…

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Knowledge is power, and Grossman and Jones gives you the power you need to know what is going on in the mortgage world. Todd Grossman of the Grossman & Jones Group with Compass and Brandon Sparks with Barton Creek Lending Group discuss changes in lending and the effects, Jumbo Loans, and the future of the housing market during COVID-19.

 

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Twenty-eight Austin-area real estate agents have been selected for membership in Luxury League for 2020, including Todd Grossman and Michelle Jones of the Grossman & Jones Group at Luxe Home's Austin.

Each year, Luxury League invites Austin residential real estate agents who specialize in luxury transactions over $1 million with a minimum of $10 million in volume to apply for membership in the organization. The applications are then evaluated by an advisory board comprised of leading brokers and managers in the Austin market.  Over 70 agents applied for membership in 2020.

Cumulatively, the 2020 members closed $1.1 billion in residential transactions in 2019, with 405 of these properties closed at over $1 million. On average, each Luxury League…

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Realtors in Austin are being told they can show properties again across the metro under a new statewide coronavirus order.

After Central Texas' first shelter-in-place orders were announced March 24, the Austin Board of Realtors strongly discouraged its members from in-person showings in certain locations.

"It's our interpretation that showing activity may be allowed in Williamson County, but it's clearly not allowed in Travis County and the city of Austin," ABOR said in a March 25 update.

But now ABOR says things have changed after a March 31 executive order from Gov. Greg Abbott on the state's efforts to contain COVID-19, the disease caused by the novel coronavirus.

"Realtors can show property across the market but should exercise…

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Historically low interest rates add another variable to housing market

 The Austin Board of REALTORS® (ABoR) February 2020 market analysis showed a 6.8% increase in residential home sales in the Austin-Round Rock Metropolitan Statistical Area (MSA) and a 12.8% increase in median sales price to $327,140. While sales increased from 2,363 homes in February 2019 to 2,524 homes last month, new listings decreased 11.8% year-over-year, and inventory dropped to 1.5 months of inventory, painting the picture of Austin's historically competitive housing market and high demand. With the impact of COVID-19 beginning to take hold, it's uncertain how social distancing will affect the way the market continues to operate.

“Historically low interest rates are a…

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