Grossman & Jones Real Estate Blog - real estate

"Top-selling Realtors to get spotlight"

Austin Business Journal reports, "Every year we ask local Realtors to give us their statistics — number of homes sold, dollar volume, most expensive sold home and more — so we can rank them for ABJ's annual Residential Real Estate Awards luncheon.

The numbers have been crunched and the winners have been identified. Some of them competed solo, others banded together in teams. Some made the list by selling several homes a week. Others made the cut because they sold only a few, but they were mega-mansions.

Use this list if you're a homebuyer or seller trying to navigate this toughening housing market. Do you run a company that's recruiting a lot of people from out of town? Perhaps your business' go-to Realtor is in here so you can offer yet another…

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"Austin suburbs are some of the top U.S. hot spots for new rental homes"

CultureMap Austin shares, "A new rental report has revealed Texas is leading the nation with the highest single-family home rental construction growth, and Austin is among the top 10 U.S. metros building the most new homes for rent.

The analysis from rental listings website Point2Homes examined construction rates and building permit data for single-family homes that are "located in build-to-rent, professionally managed communities" across America. For the purpose of the study, build-to-rent communities are defined as those where a majority of homes eitherdon't share any walls with each other, or so have some shared walls but do not have neighbors above or below, or have a direct-access garage.

According to the report's findings, Austin's rental…

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"Austin to deliver more affordable housing in 2025 than any other US city, study says"

Austin Business Journal reports, "Austin is expected to deliver more affordable multifamily housing units than anywhere else in the country in 2025, and it still may not be enough.

With housing affordability a major issue both in Austin and across the country, 2025 is expected to see 78,377 affordable multifamily housing units delivered nationally, with 3,452 units in Austin alone, according to a new report from Yardi Matrix. Los Angeles is expected to deliver the second-most affordable units this year, at 2,752.

Even with nation-leading construction, however, worries persist that Austin still won't have enough. In addition, rising development costs and other issues could reduce the number of new units in coming years.

Affordable multifamily…

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"Austin Asking Rents Drop 16% in January—More Than Any Other Major Metro—And Are Now $400 Below Their Record High"

Redfin.com writes, "Nationwide, the median asking rent was little changed from a year earlier, down 0.1% to $1,599. But rents may inch up if demand outstrips supply in a big way, which is feasible because apartment construction is slowing and high homebuying costs are fueling renter demand.

The median U.S. asking rent was $1,599 in January, little changed (-0.1%) from a year earlier and up 0.5% from a month earlier.

The median asking rent per square foot fell 1.5% year over year to $1.80 and rose 0.8% month over month. 

Rents are stabilizing because the number of available apartments is in sync with the number of people who want to rent those apartments. Asking rents skyrocketed during the pandemic moving frenzy because there weren’t enough…

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"Your Recent Mortgage Statement Holds the Secret to a Big Tax Bonus This Year"

Realtor.com writes, "Tax season can be very stressful for many Americans—and for homeowners, having a place to call home can add another layer of complexity.

Sure, several tax breaks are available to owners. However, navigating them, finding the appropriate forms, and ensuring you do not forget any deductions can be challenging.

Recently, a real estate expert posted a TikTok video reminding homeowners that one of these tax forms could actually help them get a tax bonus this year. The video was liked more than 26,000 times, underscoring taxpayers’ interest in understanding deductions as much as possible. 

Real estate agent warns not to throw out your recent mortgage statement

TikTok user and mortgage expert @loanladyliz explained that there…

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"Realtor.com relocates HQ to Austin from California"

Austin Business Journal writes, "Count Realtor.com as the latest California company to name Austin its new corporate headquarters.

The real estate platform, which already has an Austin office at 901 E. Sixth St. and employs 400 people here, is making the city its official headquarters instead of its previous home base of Santa Clara, Calif., according to an announcement. The move appears to be mainly a change of letterhead for the time being, but CEO Damian Eales said the company expects to add hundreds of new hires in Austin over the coming years, with many likely to be recruited locally.

The company will maintain its presence in New York and Scottsdale, Arizona, but will be closing its offices in Santa Clara and Chicago.

Austin's central…

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"Where’s My Refund? Here’s When Homeowners Can Expect Their Money Back From Property Taxes"

Realtor.com shares, "A few years ago, my husband and I bought a townhome. The place is perfect for us, in a great area with nice neighbors, but it’s modestly sized and, admittedly, a little dated. It’s certainly not a luxury property—though seemingly well within the means of two 30-something professionals.

But with HOA dues, unexpected home repairs, car fixes, as well as the cost of two kids (and another on the way), I’m dedicated to clipping coupons and find myself biting my nails whenever I get an unexpected bill.

It’s no wonder I’m always stressed during tax season.

“How much do we owe this time?” I ask my husband every year, usually rubbing my temples as I try to fight off a money-induced migraine.

But recently, I realized that our…

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"4 things to know about Austin’s housing market in 2025"

ATX Today writes, "Predictable, steady, opportunity. Those are the words Unlock MLS Housing Economist Dr. Clare Knapp used to describe Austin’s housing market this year at the Austin Board of Realtors Headquarters today.

If you’re looking to buy or sell a home in the Capital City in 2025, here’s what to expect. 

1. Predictable mortgage rates

Knapp said mortgage rates will likely stay in the 6% range during the first half of the year and might dip into the 5% range later in 2025.

2. Consistent home prices + sales

Active listings in Austin were up by nearly 15% in 2024, and Knapp said healthy inventory is expected to carry over into 2025. Home sales and prices will probably remain flat, but Knapp emphasized that prospects may still be…

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"Austin's luxury real estate market brought in $4.1 billion in 2024"

CultureMap Austin shares, "A new 2024 report from Texas Realtors has revealed the number of homes that sold in the state for $1 million or more increased 10 percent from last year to reach its second-highest peak ever recorded.

According to the report's findings — which calculated sales data from November 2023 to October 2024 — Texas' luxury real estate market accounted for $21.4 billion in economic activity. The period from November 2021 to October 2022 still holds the current statewide record, which is $22.6 billion.

A total 12,888 homes sold for at least $1 million during this time, which represented nearly 16 percent of all Texas residential home sales.

May 2024 was the busiest month for Texas' luxury home sales. Nearly 1,580 homes were…

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"Elevated prices, interest rates will continue to curb housing affordability in 2025"

Austin Business Journal reports, "Homebuyers and sellers in the Austin metro likely will see little change in prices and inventory in 2025.

That's because median sales prices are likely to hover around the $450,000 mark reported in December 2024, and interest rates are expected to stay high, according to Clare Knapp, housing economist for the Austin Board of Realtors and Unlock MLS. It's a combination that's considered unaffordable for many first-time homebuyers, which means the onus is on homebuilders to build more homes with lower price tags to help move the needle on affordability in the metro.

A first-time homebuyer can typically afford to pay three times their income for a home, putting many in the market for a home in the $300,000 to $400,000…

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