Luxe Austin Homes - austinites

"Austin developers have new rules for building near music venues"

CultureMap Austin writes, "A cornerstone of what makes Austin a special place to live is the prevalence of live music everywhere. It's something that some Austinites fight to protect.

"I put on a deep voice and say 'because it's very important to our economy,' but it is," said Dr. Sullivan with the Cultural Trust Advisory Committee. "Austin's reputation is that it is a very important place for entertainment."

However, that reputation can also be a curse. So council members approved new rules for developers who want to build homes and hotels near noisy venues.

For years, Sullivan said neighbors and hotel guests have been complaining about noise from nearby venues.

"Neighborhoods have a right to complain when there's noise from highways,…

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"Homeowners and developers can now build on smaller lots under HOME Phase 2"

Austin Business Journal reports, "Developers can now build on smaller lots as part of an effort to allow denser and more affordable housing throughout Austin.

Beginning Aug. 16, homebuilders and homeowners can apply to participate in the second phase of the HOME Initiative, a city of Austin spokesperson confirmed, which allows homes to be built on lots as small as 1,800 square feet — down drastically from the previous minimum lot size of 5,750 square feet.

Many density and affordable housing advocates in Austin have long pushed for smaller minimum lot sizes for single-family homes, calling the change one of many code updates that could move the needle for affordability and housing stock concerns. HOME Phase 2 also establishes new rules for lot…

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"Austin home sales slip as more buyers look outside the city, report says"

CultureMap Austin writes, "It's been a long-established trend that Austinites will relocate to a much more affordable part of town, even if it means sacrificing shorter work commutes and coveted Austin zip codes. The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) shows home sales have dropped in the Austin-Round Rock-San Marcos MSA, but are on a steady rise in neighboring Central Texas counties.

Residential home sales fell 3.5 percent year-over-year from July 2023, totalling 2,652 closed sales in the Austin-Round Rock-San Marcos MSA. Median prices have plateaued at $450,000 for the second consecutive month. With more than 3,800 new home listings added — a 0.3 percent drop from this time last year — the total…

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"Austin home prices jumped 87 percent in 10 years, report reveals"

CultureMap Austin shares, "A new real estate report confirms something that Austinites pretty much already knew: The city of Austin saw a significant increase in housing prices among U.S. cities within the last decade, with median home prices skyrocketing up to 87 percent.

The report by online real estate database PropertyShark analyzed median home sale prices in 41 of the most populous U.S. cities and locales in 2014 and 2023. According to the study, the median sale price of a home in Austin in 2014 was $287,000. A decade later, median housing prices in the city nearly doubled, landing at $538,000 in 2023.

Demand for housing increased dramatically due to the COVID-19 pandemic, when "millions of office employees suddenly shifted to working from…

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"Austin nests on Zillow list of best cities for first-time homebuyers"

Culturemap Austin shares, "It's not easy to buy a home anywhere, but folks in Austin are doing way better than average, according to Zillow. Texas' capital ranked No. 5 among the top 10 U.S. cities for buying a first home.

In 2023, new homebuyers occupied the largest slice of the market since the report started in 2018, making up about half of all buyers. The demographic was only 37 percent in 2021. It cites the "rate lock" effect for keeping "repeat buyers" from moving on too quickly and abandoning their lower mortgage rates. Hopefully strength in numbers gives newcomers a little more power against flippers and developers.

The new Zillow report further helps follow purchasing power, identifying places with a larger selection of homes and more…

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"Famous Austin mall unveils luxury renovations to its domain through 2025"

Culture Map Austin writes, "despite already being one of the sleeker areas in Austin, The Domain is getting a facelift. The giant outdoor mall and residential area is planning a multi-phase, multimillion-dollar renovation over the next two years.

The Domain has been around longer than many Austinites may realize, given how fast stores, workspaces, and restaurants are popping up in the surrounding area. But after 15 years, it's time to do some maintenance, starting with the exterior facades.

According to a news release, the goal of this first phase is to make sure the exterior holds up to the caliber of luxury shops The Domain is now attracting. This may not mean much for the casual observer, but people who for live, work, or shop at The Domain,…

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