Luxe Austin Homes - housing

"Developer eyes 722-acre lakeside development near Lake Georgetown"

Austin Business Journal reports, "a Wyoming-based developer is eyeing a 722-acre development in Georgetown that could bring 1,500 homes and a 15-acre resort hotel to the west side of Lake Georgetown.

While the project is still in its initial stages, representatives from Zovest Capital LLC on June 27 presented a proposal to the Georgetown City Council to support creating a municipal utility district for Lakeside Estates, which would be next to Santa Rita Ranch in the city's extraterritorial jurisdiction. The Santa Rita Ranch neighborhood is still being built out, but it's already one of the biggest neighborhoods in Central Texas.

Zovest's development would add upscale single-family housing to what has been the fastest-growing city in the United…

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"EVK Homes plans 40-acre neighborhood in Taylor with spectrum of housing"

Austin Business Journal reports, "a couple of Taylor residents aim to bring a new subdivision to life in their town that features a variety of housing types.

Taylor-based EVK Homes LLC — owned by married couple Geraldo Reyes, a Taylor native, and Elizabeth Krueger — hopes to build a 40-acre subdivision on the northern edge of the Williamson County city. It would add 174 homes in a city expected to see tremendous growth in the coming years, in part because of the massive factory that Samsung is building there.

The development, to be called North Village, would feature single-family homes, townhouses, cottages and fourplexes for purchase, Krueger said. Additionally, some single-family homes would come with one-bedroom accessory dwelling units…

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"Austin's housing market continues to normalize as options grow for buyers and sellers, new report says"

CultureMap Austin writes, "the real estate environment in Austin is continuing to normalize and become more favorable, leading to greater opportunities for both buyers and sellers.

Faith in the housing market can be seen through May's active listings, climbing up to 8,960 homes, which is nearly 1,000 more than in March 2023.

"Last month’s housing market activity demonstrates not only a stable market, but one where optimism for the months ahead continues to grow," said 2023 ABoR president Ashley Jackson in a release. "Real estate remains the most powerful long-term investment and having a trusted expert in your corner is crucial."

Pending sales slid ever so slightly by half a percentage point, to 3,243 pending sales. Housing inventory has…

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"U.S. Pending Home Sales Fall but the Housing Market Is in Recovery Mode"

Realtor.com writes, "the numbers: U.S. pending-home sales fell in May, the National Association of Realtors said on Thursday but the housing market is still showing signs of being in recovery mode.

Demand for homes is still strong, despite mortgage rates hovering near 7%, but buyers are finding few properties for-sale to choose from as homeowners hold out on selling.

The shortage in housing inventory has become so dire that it’s pushed pending home sales down in the spring, which is generally the peak season for home-buying.

Sales fell by 2.7% from the previous month, according to the monthly index released Thursday by the National Association of Realtors (NAR).

The figure fell short of expectations on Wall Street. Economists expected…

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"Homebuilding starts to pick back up as buyers adjust to new pricing norms in tight market"

Austin Business Journal reports, "after months of slowdown in the wake of weaker buyer demand, homebuilders are starting to pick back up on construction — and feeling more confident about the housing market since mortgage rates surged last year.

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1.63 million, a 21.7% increase from the April estimate of 1.34 million, the U.S. Census Bureau reported this week. Meanwhile, privately owned housing units authorized by building permits last month were at a seasonally adjusted annual rate of 1.49 million, 5.2% higher than in April but 12.7% less than the May 2022 rate.

The jump in home starts observed last month is notable, said Kelly Mangold, a principal at RCLCO Real…

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"Is an All-Cash Offer on a House Always a Good Idea? The True Risks and Rewards"

Realtor.com writes, "ah, the all-cash offer. If you’re a home buyer with this ace up your sleeve, you probably have a swagger in your step as you tour homes, looking for the perfect property. And in light of today’s rising mortgage rates, the thought of saving all that monthly interest on a loan makes paying in cash that much sweeter.

Home sellers swoon over all-cash offers for one simple reason: It means there’s no doubt that you’ve got the coin to close the deal.

All-cash home buyers have a distinct advantage over those who need a mortgage, because there’s no guarantee that lenders will fork over the money. A lot can get in the way of that happening, from a subpar credit score to a poor home appraisal and beyond. All these what-ifs are…

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"Yay! Mortgage Rates Just Dropped—and Now There’s Even More Good News"

Realtor.com writes, "mortgage rates have finally dipped, after three panic-inducing weeks of climbing upward.

For the week ending June 8, the average 30-year fixed mortgage rate sank to 6.71%, down from the previous week’s 6.79%, according to Freddie Mac.

And that’s not where the good news ends.

Home price growth, which has been spiraling skyward since the COVID-19 pandemic, has also “slowed to a halt,” according to Danielle Hale, chief economist for Realtor.com® in her recent analysis of the latest housing data.

Indeed, median listing prices came in a mere 0.2% higher for the week ending June 3 compared with this same week last year. That’s the lowest level in the history of Realtor.com data, which goes back to 2016.

Yet despite this…

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"Austin has the 3rd most active real estate market in the U.S. within the last decade"

CultureMap Austin writes, "a new report has discovered Texas cities hold the top five most active real estate markets in the country, with Austin landing in third place. The study by storage marketplace StorageCafe reflects the city's resiliency over the last decade after a recent reported plummet in Austin's quality of life.

Austin had the third highest number of single-family home permits between 2013 and 2022, totaling 37,000 units. At the same time, the city also permitted over 98,700 new multi-family/apartment units. The massive influx of housing ultimately adds up to an impressive national surge.

On the industrial end, the Texas Capital also took the No. 3 spot in the country for the most square feet of new industrial space construction.…

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"Massive luxury community set to break ground west of Austin"

Austin Business Journal reports, "the first phase of construction on Thomas Ranch, a 2,200-acre luxury community near Spicewood, is set to begin later this month.

Salt Lake City-based developer Areté Collective LP plans to break ground June 15, according to an announcement from late May. The first-phase neighborhood will be called Loraloma and have more than 400 homes and a golf course — although a builder is still needed.

Loraloma will be home to about 450 cottages, villas, estates and custom homesites, said Joe Rentfro, Thomas Ranch managing director.

"Our intention was to cater to a wide variety of individuals seeking a fresh take on Hill Country living without sacrificing the culture that rests at Austin’s core," Rentfro said.

To that…

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"Luxury residential community coming soon to San Marcos"

Community Impact reports, "Alta Center Point, a luxury residential community located at 625 Gregsons Bend, is being built in San Marcos.

The multifamily residential community is being developed by Wood Partners and Pursuant Ventures Development, led by Tyler Sibley and will offer 330 apartment homes with a mixture of one-, two- and three-bedroom floor plans.

Alta Center Point will have a resort-style pool, outdoor kitchen and a dog park along with a clubroom. Residents will also have access to a high-tech fitness center, conference area with multiple personal workspace offices and a variety of entertaining spaces.

According to Donya Mansoorian, an assistant account executive for the Wood team, the development anticipates opening its first unit in the…

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