Blogs

Austin Home Sales Hit A 7 Year High!

Area existing single-family home sales hit a 7 year high in March, up 7% year-over-year to 2,262 single-family homes according to the March MLS report, released by the Austin Board of Realtors, this week.

Monthly housing inventory was down 0.4 months, from March 2013, to a very low 2.2 months in March 2014.

Homes sold at an accelerated rate, spending an average 51 days on the market — 13 days fewer than a year ago. The median price for single-family homes was $231,750, up 6% over a year ago with the average price up 5% to $296,640. Active listings were down 5%.

Top Relocation Cities in the US

For the fifth year in a row, the 4 biggest cities in Texas (Houston, San Antonio, Austin and Dallas) have been named in the top 15 U.S. destination cities for movers, according to U-Haul’s newly released “2013 Top 50 U.S. Destination Cities Report.”

The company’s rankings reflect destinations for movers renting a truck one way, and the list was compiled from more than 1.7 million one-way U-Haul truck transactions during a 12-month period.

The following cities emerged on U-Haul’s list as top destination cities:
1. Houston
2. Orlando, Fla.

Austin unemployment rate falls to 4.4 percent in March....

A surge in hiring has brought Austin's unadjusted unemployment rate to a low of 4.4 percent in March from 4.8 percent in February, according to the Texas Workforce Commission. 

The drop in unemployment was driven mostly by hiring – employers added almost 10,000 new workers to the payroll, far outpacing growth in the labor force. March's growth in the workforce of nearly 1 percent far outpaced the historical average for the month. Since 2000, Austin has averaged about 0.3 percent gains in employment through March, the Austin-American Statesman reported.

Austin Beer Connoisseurs Rejoice!

Great news for you Austin Beer connoisseurs ... effective April 27th, the Austin City Council unanimously passed a bill allowing zoning changes for breweries and thereby permitting Austin’s 13 local breweries to sell their own beer for consumption on their own premises.

As reported on KVUE … The sale of alcoholic beverages at breweries under the new rules means the business cannot be within 540 feet of a residential structure. If the brewery is within 540 feet, a conditional use permit must be obtained.

Bankrate.com Highlights How Buyers Can Irk Sellers

Both parties have to come together in a transaction, and real estate professionals sometimes find themselves wedged in the middle of buyer and seller disagreements. Some sellers may accuse the home buyers of being too pushy with their demands.

Bankrate.com recently highlighted several ways that homebuyers have been annoying some sellers recently, including:

Houston developer to debut 600-acre community near Liberty Hill ....

The Lookout Group has had a fondness for many years developing residential real estate projects in the far northwestern fringes of Austin. That focus isn’t about to change.

The Houston-based master-planned community developer will unveil its next major project in May at Clearwater Ranch near Liberty Hill, just north of Leander in Williamson County. The Lookout Group also developed Crystal Falls in Leander, which is largely build-out and was profiled in a previous Austin Business Journal story.

"Love the life you live. Live the life you love." And A Great Weekend To Start That Philosophy!

The annual Austin Reggae Fest hits town this Friday and runs through Sunday.

Not only a great weekend for “hula hoop girls, aging wizards and a full spectrum of dreadlocks to clean-cut college students and soccer moms”, as described by Austin 360, but an awesome weekend for the Capital Area Food Bank of Central Texas. Last year the festival raised over $260,000 to help the nonprofit fight hunger.

"Love the life you live. Live the life you love." And A Great Weekend To Start That Philosophy!

The annual Austin Reggae Fest hits town this Friday and runs through Sunday.

Not only a great weekend for “hula hoop girls, aging wizards and a full spectrum of dreadlocks to clean-cut college students and soccer moms”, as described by Austin 360, but an awesome weekend for the Capital Area Food Bank of Central Texas. Last year the festival raised over $260,000 to help the nonprofit fight hunger.

Texas Home Remodeling Projects More Profitable and Popular!

If you're considering remodeling your home in preparation for putting it on the market, a new report from the Texas Association of Realtors suggests that your money may be best spent on smaller upgrades.

The 2014 Texas Remodel Valuation Report, which was released on April 1st, analyzed the project recoup costs and recoup cost growth in 2013 for over 20 different remodeling projects nationwide, in the South Central U.S., and in Austin, Dallas, El Paso, Houston and San Antonio.

Building permits pour in as Austin booms, backlog ensues....

From October to this March alone, the City of Austin’s Planning and Development Review Department received between 3,000-5,000 permit applications each month.

 

Just more than a year ago, the city had to hire more employees to help clear its permit application backlog.

 

“We definitely have to tailor the design to work with what’s there,” said Dana Ambs, who runs Make Modern Home, an interior design company. She works with investors and homeowners to renovate properties.

 

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