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Tens of millions of dollars of new homes rising in small neighborhood

Five local architecture firms will showcase their designs in a high-end residential development coming to West Lake Hills.

Custom homebuilder Foursquare Builders LLC announced Sept. 7 it will build an enclave of six ultra-luxury homes in the tony suburb west of downtown Austin, designed by five renowned firms. The development, called the Wildcat Club, will have home prices starting at $11.75 million. All of the home listings in the development are with Darin Walker of Kuper Sotheby’s International Realty.

"The vision was to develop this parcel where we can bring a very select group of architects to work with us on these six properties, so that we have a community of architecturally significant homes that are held to a standard that’s…

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Homebuyers regain some power in Austin as inventory continues to climb

Homebuyers continue to gain negotiating power in the Austin area, a welcome change of pace in a market that has been defined for much of the past two years by blistering conditions.

The latest numbers from the Austin Board of Realtors convey good — or at least better — news for this home-starved market and people struggling to find a home. They also signal a comforting trend that would help Austin avoid a housing crash after years of phenomenal appreciation.

Housing inventory increased in July for the second straight month, to 2.7 months for the region and 2.4 months for Austin city limits, according to ABOR. Instead of a summer outlier, this now seems to point to a trend of decreasing demand, especially in light of rising mortgage rates,…

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5 reasons to live in Bastrop, from affordability to outdoor fun

Situated in the southeast outskirts of Austin and with a population of less than 10,000, Bastrop provides a charming small-town feel without being too far removed from the city.

It has tons of appeal, and here are five of the top reasons you'll want to become a Bastrop resident:

Loads of outdoor fun
Bastrop sits on the banks of the Colorado River, making it the perfect spot to bird watch, kayak, camp, and even golf or zipline.

You can relax on the El Camino Real Paddling Trail and fish for Guadalupe bass and flathead catfish. Keep your eyes peeled for local wildlife sightings such as great blue herons, red-shouldered hawks, or kingfishers.

Bastrop State Park is comprised of 600 lush acres and is home to the famous lost pines. These trees…

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5 Austin suburbs that unlock affordable homes for first-time buyers

Any hopes of ever buying an “affordable” house in the city of Austin are quickly fading, especially for first-time homebuyers.

In January 2022, the median sale price of a home within the city limits climbed to $550,000, up 20.9 percent from the same time a year earlier, according to the Austin Board of Realtors. Even the median sale price for the entire Austin metro area is increasingly out of reach for many first-time homebuyers — $476,000 in January 2022, up 30.4 percent from a year earlier.

However, some Austin suburbs enable first-time buyers to get more bang for the buck. While they might be a fair distance from Austin itself, a number of suburbs offer home prices at least $100,000 below the region’s median price.

In alphabetical order,…

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Wide-open spaces: Austin homebuyers build their dream homes on empty lots out of town

Austin homebuyers have been through the wringer in the past year—tales of offers well over asking price, sales in under an hour, and months-long supply chain shortages have become commonplace in the city's cutthroat housing market. So it's perhaps no surprise that many homebuyers are looking for greener pastures as they stake out large empty lots along the city's outskirts.

After casually searching for a home for years, Austin influencer and blogger Jane Ko experienced the pandemic housing surge firsthand when she found an empty lot near the airport in the summer of 2020. Stretched thin by high demand and limited supply, Austin's median home prices had already reached a then-record of $435,000 in August of that year, while new inventory grew by…

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New Homestead Exemption Rule

There is a new update to the Homestead Exemption Law. 

Starting January 1, 2022, homebuyers will be allowed to file for exemption in the year they purchased the property - previously homebuyers had to wait until the following calendar year to file. 

This is great news for homebuyers who can now have the opportunity to lower their property taxes! 

How does this affect prorations? 

Previously, prorations of taxes between the Buyer & Seller, and reserves needed for the Buyer's new escrow accounts, were estimated using the homestead exemption because it was in place until the end of the year. Now, a Seller can buy a new property and move their exemption to that new property immediately. 

Source: Patten Title Company 

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