Luxe Austin Homes - housing

"Developer teeing up big master-planned project in Lockhart"

Austin Business Journal reports, "A North Texas-based developer appears to be gearing up to build a 178-acre master-planned community on the southeast side of the Barbecue Capital of Texas.

The project in Lockhart by Intermandeco GP LLC could bring hundreds of single-family homes, townhomes or apartments — as well as commercial space — to the 1500, 1600 and 1700 blocks of South Commerce Street. Representatives of Allen-based Intermandeco detailed its initial plans during a Lockhart City Council meeting on Sept. 3.

Council members voted unanimously to establish zoning on the site, including 28 acres of medium-density commercial, 18 acres of high-density residential and 132 acres of medium-density residential.

The Marilyn Riddle Trust is the…

324 Views, 0 Comments

"Buyers are snatching up starter homes"

RealEstateNews.com shares, "While the market remains tepid overall, starter homes are drawing more interest as mortgage rates trend lower and inventory rises.

Pending sales for starter homes jumped more than 10% in July year-over-year, according to the latest Redfin report, reaching the highest level in nearly two years. That's in stark contrast to pending sales for all other tiers, which fell by between 6-10% over the same time period. 

Sale prices of entry-level homes were also up, but increased at a slower pace than other home segments, a sign that inventory and demand are more balanced in the lower price tiers. Redfin defined starter homes are those with a sale price in the 5th-35th percentile. 

Redfin Senior Economist Sheharyar…

296 Views, 0 Comments

"Slight Uptick in Home Sales as More Listings Hit Market"

Realtor Magazine reports, "Home affordability conditions are improving slightly, which helped to fuel more real estate transactions in July. Existing-home sales, which account for completed transactions for single-family homes, townhomes, condominiums and co-ops, saw their first uptick in about four months, rising 1.3% in July compared to June, NAR’s latest housing report shows.

“Despite the modest gain, home sales are still sluggish,” says NAR Chief Economist Lawrence Yun, adding that sales are still down 2.5% from a year ago. “But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates.”

The 30-year fixed-rate mortgage averaged 6.49% as of Aug. 15, down from 7.09% a year earlier, which is…

183 Views, 0 Comments

"Townhomes — why aren't they popular here?"

Austin Business Journal writes, "Even with a ballooning population and pushes for increased density, Austin has shied away from townhome development.

There are about 570 active single-family projects in Austin, and 40 of them are townhome developments, said Keith Hughes, vice president of sales at housing analytics company Zonda. And that’s keeping in track with other Texas cities, according to Zonda’s National Outlook report, but lagging behind other metros across the country.

Zonda defines townhomes as multilevel, single-family residential units sharing a common wall with another similar structure. These homes are typically built in series or rows.

Zonda's data shows that, while townhome deliveries have slowed since the pandemic in many…

200 Views, 0 Comments

"D.R. Horton could bring around 1,500 homes to Bastrop"

Austin Business Journal shares, "The busiest volume homebuilder in the region plans to bring around 1,500 homes to a small town outside Austin.

Bastrop City Council was shown new plans for a public improvement district called Valverde on Aug. 13 that could be valued at $557 million at full buildout. The property is owned by D.R. Horton Inc. through its Continental Homes of Texas LP subsidiary, according to property records.

The Valverde plans are the latest evolution of a project that was formerly called Viridian, which was also a D.R. Horton project.

Valverde would rise on 399 acres north of State Highway 71, and plans call for both single and multifamily development. In a statement, D.R. Horton Austin Division President Scott Wilburn…

917 Views, 0 Comments

"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…

267 Views, 0 Comments

"Where wealthy people live"

Austin Business Journal writes, "In his 2005 State of the City address, then-Austin Mayor Will Wynn — fresh off leading the Downtown Austin Alliance — had a goal of 25,000 people living in downtown Austin.

At the time, about 5,000 people called the Central Business District home. Almost 20 years later, downtown is still far short of that goal but growth has ramped up as thousands of new apartments and condos rise toward the sky. 

The DAA now pegs downtown's population at about 15,000. Almost 900 were added last year, DAA reports. They come for the high-rise living, entertainment, quality restaurants and urban hike-and-bike trails.

It's an appealing package if you can afford it — the downtown ZIP code, 78701, is now the wealthiest in the area…

226 Views, 0 Comments

"Home sales volume continues to remain low in Central Austin"

CommunityImpact Austin writes, "The real estate market for the Central Austin area experienced some decline in home sales volume in July year over year; however, home sales volume increased compared to June, according to data from the Austin Board of Realtors.

This was coupled with an increased amount of time on the market and a decline in sale prices year over year, according to the data.

The details

Home sales volume declined in half of the ZIP codes in the Central Austin market, with the biggest percentage decrease in 78701, while the largest percentage increase was seen for 78731. In June, all 12 ZIP codes experienced a decline in sales.

There was also an increase in all but two of the 12 ZIP codes in days on the market, with the largest increase…

191 Views, 0 Comments

"Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again?"

Forbes Advisor writes, "The housing market might finally be entering a transitional phase.

Summer sales have been tepid thus far, but there are signs that activity could heat up by the end of the summer as mortgage rates edge down and much-needed resale inventory continues to enter the market, giving buyers more options.

Other good news for home shoppers is the ongoing decline in the median price for a new home—now below the median resale home price—even as builders continue offering buyer incentives.

Nonetheless, experts say the housing market will only see renewed momentum once mortgage rates drop enough to ease affordability challenges and incentivize homeowners locked in at low rates to move so inventory grows substantially to meet…

283 Views, 0 Comments

"Million-dollar markets: America's most expensive ZIP codes for housing"

Austin Business Journal writes, "California's 94027 stands alone when it comes to the nation's most expensive ZIP codes for housing.

The typical home value in 94027 - Atherton, which is located near San Francisco, was $7,711,460 in March 2024 — leading the way among all ZIP codes in America.

That’s according to research obtained for The Business Journals Wealthy 1000, a recent ranking of the nation's wealthiest ZIP codes based on a weighted formula that looks at numerous wealth metrics, including typical home value data from Zillow.

California's 94027 stands alone when it comes to the nation's most expensive ZIP codes for housing.

The typical home value in 94027 - Atherton, which is located near San Francisco, was $7,711,460 in March 2024…

317 Views, 0 Comments