Luxe Austin Homes - Grossman & Jones Group

"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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"What Is a 5/1 ARM? (And Should You Get One To Snag a Lower Mortgage Rate?)"

Realtor.com shares, "housing costs have skyrocketed as of late, with median home prices near historic highs and mortgage rates hitting levels not seen in 23 years.

So, it’s little wonder that the overall affordability crunch in the real estate market has cash-strapped homebuyers exploring potentially riskier financing options with the promise of a lower mortgage rate.

Enter the 5/1 adjustable-rate mortgage, or ARM. This type of loan—the most popular ARM out there—has what’s called an introductory “teaser” rate that’s lower than what you’ll get with a fixed-rate mortgage.

Locking in a 5/1 ARM for your mortgage might be suitable for specific circumstances or a terrifying financial roller-coaster ride you can’t wait to exit. If you’re…

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"First plots sold at 1,000-acre luxury residential community near Lake Travis"

Austin Business Journal reports, "the first 50 homesites have been sold at Travis Club, an incoming luxury neighborhood on Lake Travis. It's set to rise on more than a thousands acres 15 miles west of downtown Austin.

These first homeowners are being recognized as the “50 founding memberships” of the resort-style community that is being developed by Menlo Park, California-based real estate developer Haas & Haynie Corp. and Austin-based real estate investment firm Castle Hill Partners Inc., according to a Nov. 1 announcement.

This marks a notable step forward for the project that has been planned for more than a decade on the undeveloped bend of Lake Travis between Thurman Bend Estates and the Briarcliff community. This area, and just about all…

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"Top 10 Roadblocks for the Real Estate Market in 2024"

Realtor Magazine writes, "global unrest, economic uncertainty and eroding home affordability are among the top issues facing the real estate industry over the next year, according to The Counselors of Real Estate’s annual report, “Top 10 Issues Affecting Real Estate(link is external).” Each year, CRE surveys 1,000 real estate experts to gauge the emerging issues that could have the most significant impact on all housing sectors, particularly the commercial market.

“This past year has been challenging for some and opportunistic for others as the economy, office market and innovation continue to evolve and impact the market,” says CRE Global Chair William McCarthy. “Additionally, the housing shortage and infrastructure issues continue to cause…

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"The rental market’s downward slide: 5 straight months of falling rents"

The New York Post writes, "rents continued to fall around the country as more rental units hit the market.

September marked the fifth month in a row of year-over-year rent declines, with prices decreasing 0.7%, according to a recent Realtor.com® report. The median asking rent dropped to $1,747 in September. That was a $5 dip from August 2023 and a $29 decrease from July 2022, when rental prices peaked.

Renters are still paying more than pre-pandemic times, however. September 2023 rents were $338 — a whopping 24% — higher than September 2019.

The report looked at rents for studios and one-bedroom and two-bedroom apartments, condos, townhomes, and single-family homes in the 50 largest metros. (Metros include the main city and surrounding towns,…

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