housing

Austin
12:26 pm
Mon July 27, 2015

Report Calls for Action on 'Repeat Offender' Properties

A report argues the city isn't doing enough to hold owners of properties frequently cited for code violations to task.
Miguel Gutierrez Jr./KUT News

There are thousands of rental properties in Austin – after all, most people who live in Austin rent – and of those thousands, there are more than two dozen that have racked up 300 code violations from the City of Austin. A new study provides suggestions on how to handle the so-called “repeat offenders.”

The study’s author argues that the city could be focusing more on these violations, rather than dedicating more Code Compliance resources towards the policing of short-term rentals.

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Real Estate
10:31 am
Thu May 21, 2015

Austin Home Prices Hit Another Record in April 2015

Credit flickr.com/digallagher

Home prices in Austin hit another record last month.

The numbers come as new Census data confirms Austin has continued its explosive growth in recent years.

The Austin Board of Realtors says the median home price was up 14 percent in April 2015, compared to the same month last year, to $274,000. The number of homes sold also hit a record for the month of April.

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Business
11:42 am
Wed May 20, 2015

To Buy A House, You Might Need an English Major

crdot/flickr

A Houston homeowner is holding an essay contest to sell his historic bungalow for $150. There’s a catch, however: The house, valued at $400,000, will go to the person with the best 200-word essay. The owner hopes to get 3,000 applications by mid-June to part with the house at market value.

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Austin
7:13 am
Wed April 29, 2015

Travis County Home Values Increase by 11 Percent in 2015

Jon Shapley/KUT News

If you’re a homeowner, start checking your mail. You should receive the most recent appraisal of your home value from Travis Central Appraisal District by the end of the week.

And expect those values to have gone up.

The average home value in the county increased by 11 percent in 2015, to $355,312 from $320,032 last year. Taxable values rose about nine percent.

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Austin
12:23 pm
Thu March 26, 2015

Housing Prices are Rising Faster than Wages in Austin, But Maybe Not for Long

flickr.com/gjmj

Austin home values are going up much faster than wages, according to a new report. But experts say it likely won’t continue that way for long.

If you own a home in the Austin-Rock Rock area, it's probably worth a lot more now than it was two years ago: Median home prices here have gone up by almost 23 percent over the last two years, according to RealtyTrac, a real estate data firm based in California. 

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Texas
10:43 am
Tue March 10, 2015

Job Growth Spurs Temporary Housing Market in Houston

Luxury condominiums like Waterwalk hope to cash in on population growth and business development.
Courtesy of WaterWalk

Approximately 50,000 people relocate to Houston every year, creating a luxury-housing boom.

Imagine waking up in your luxury apartment. There’s a knock at the door – in wheels some scrambled eggs, bacon, toast, a gourmet breakfast delivered. Every morning. And your company’s paying for all of it. That could be the reality for some Houston transplants as early as June, if David Redfern has his way. He’s the president of Waterwalk.

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Real Estate
8:02 pm
Mon August 11, 2014

Low Unemployment, Rising Housing Stock Make Austin the Best Market for Millennials

These are the ten best cities in the U.S. for millennials to buy a home, according to the National Association of Realtors.
National Association of Realtors

Austin is the best city in the United States for aspiring homebuyers between 20 and 34 years old, according to the National Association of Realtors (NAR). It said even though housing prices in Austin have shot up in the last few years, the city's median home value of $252,520 is still about half of what it is in Boston and a third of what it is in San Francisco.

"Which is the reason why we still place Austin as reasonably affordable," NAR chief economist Lawrence Yun says. "This is where the millennial generations are moving into and [where] the job opportunities are available."

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Housing
3:36 pm
Mon July 28, 2014

Under 10% of Austin Landlords Accept Vouchers. This Rule Could Change That.

Austin's "source of income" discrimination rule could require landlords accept vouchers and other housing subsidies.
flickr.com/milestonemanagement

The rental market in Austin is hot. The Austin Board of Realtors says more units are being leased than last year and the prices are higher.

But the City of Austin says it can be hard for people who use housing vouchers to find a place to live. Now, some city commissions are considering adding “source of income” discrimination [PDF] to a list of banned landlord behavior.

A study found fewer than 10 percent of rental units in Austin currently accept vouchers – a move that critics say contributes to a concentration of poverty in the northern and eastern parts of the city.

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Rising Property Values
3:36 pm
Wed May 28, 2014

Can Anything Be Done to Lower Austin's Property Taxes?

Many people in Travis County were shocked to learn how much their property values – and consequently, their property taxes – might go up this year.
flickr.com/polymerchemist

The deadline to file a protest regarding your property tax appraisal is fast approaching – Monday, June 2.

Many people in Travis County are shocked to learn how much their property values – and consequently, their property taxes ­– might go up this year. County officials say valuations have risen roughly 15 percent on average this year. But as seen in this local Reddit discussion, many homeowners are facing 25 percent and 30 percent increases ­– and higher.

Sticker shock is so prevalent, Travis County Commissioners say their phones haven't stopped ringing from residents calling, asking for help. 

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Austin & Affordability
6:06 am
Mon April 28, 2014

Do Austinites Have Choices When it Comes to Housing?

A line of houses in the Mueller Development.
flickr.com/gjmj

If you live or work in the City of Austin, have you asked yourself why you chose to work or live where you do? Well, the City of Austin wants to know the answers to those questions to help plan for the future.

The city is conducting a “housing choice survey.” But with the current shortage of housing, do Austinites have any real choice in where they live?

Word on the street is that Austinites have very few housing choices. At least, that’s what rapper “Blind Man” says as he finds his way with his cane to a bench on East 11th Street.

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urban development
7:26 pm
Tue March 25, 2014

Austin Considers Measure Aimed at Lowering Cost of Tiny Apartments

Removing off-street parking requirements for apartments under 500 square feet could make them more affordable, advocates say.
https://flic.kr/p/4sG5xG

The City of Austin could remove off-street parking space requirements for developers who build some apartments smaller than 500 square feet – dwellings known as "micro-units." Advocates say it could encourage development of the micro-units along public transit corridors.

"We're talking about 300- or 400-square-foot apartments. Is there a market for that? In some cities, it looks like there has been," Council Member Bill Spelman said Tuesday during a council work session. "This is another way of simply reducing the cost. The whole thing is really about affordable housing." 

City code requires most residential developments to have at least one off-street parking space per unit. Council removed most of those requirements for downtown businesses last year. 

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Crime & Justice
2:51 pm
Fri December 20, 2013

Montopolis Residents Battle Alleged Housing Scam

A home in the Montopolis area. The Texas Civil Rights Project says a group is tricking seniors into signing over the rights to their homes.
Jorge Sanhueza-Lyon, KUT News

The Texas Civil Rights Project is calling on local authorities to investigate a string of suspicious housing deals that could cause seniors to lose their homes.

A company called Castro has been approaching Montopolis residents to see if they qualify for free home repairs paid for by the government. According to homeowners, the solicitors urged them to sign contracts granting Castro full legal rights over their homes.

Texas Civil Rights Project attorney Brian McGiverin says the Travis County District Attorney and the Texas Attorney General must investigate immediately.

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Austin Home Prices
3:10 pm
Thu November 14, 2013

What Recession? Census Says Downturn Didn't Hurt Austin Housing Market

flickr.com/winemegup

Austin’s housing market is hot. So hot, in fact, that it wasn’t seriously dampened in the recession to post-recession period.

New census data shows home values in Austin and in Travis County increased between 2007 to 2009 and 2010 to 2012. Most other large areas in the country saw home values decrease between those two periods.

Out of the country's  50 most populous cities, only nine cities saw an increase in the median home values during those periods. And Austin lead the pack:

  • Austin, TX: + $13,800
  • Denver, CO: + $9,600
  • Oklahoma City, OK: + $8,100
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real estate
7:24 pm
Mon October 21, 2013

Austin Home Sales Jumped 34 Percent in September

Photo courtesy http://www.flickr.com/photos/bunchesandbits/4714938136/

Austin-area home sales grew by 34 percent in September compared to a year earlier. A new report from the Austin Board of Realtors says almost 2,391 single-family homes were sold last month.

Homes are spending an average of 44 days on the market, which is 22 days fewer than a year ago.

In many cases, homes are being sold by word of mouth before they’re even listed, according to housing economist Jim Gaines at the Texas A&M Real Estate Center.

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economy
7:30 pm
Tue October 1, 2013

Austin Popular Place to Relocate, But Good Luck Finding a Home

http://www.flickr.com/photos/bcostin/101701289/

People across America really want to live in Central Texas. So many people, that Williamson County had the ninth largest growth in households of any county in the nation last year, according to a new report by the Texas Association of Realtors. Travis County was number eleven.

The "net inflow" of households to Williamson County was 4,436 last year. In Travis County, it was 4,045. 

“Texas continues to be an attractive place for people who are considering to be relocating," said Stacey Armijo with the Texas Association of Realtors, "and I think, in particular, those who are looking for job opportunities and a high quality of life."  

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Austin
6:00 am
Fri June 28, 2013

Austin Study Highlights LGBT Housing Discrimination

Michael McCrory says his former landlord wanted him to apply for disability benefits for being transgender.
Laura Rice, KUT News

The City of Austin and the Austin Tenant’s Council are hosting a community forum Saturday focused on housing discrimination against Lesbian, Gay, Bisexual and Transgender people.

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Austin
8:39 am
Tue May 28, 2013

Austin Receives $2.5M Grant to Fix Problems at Older Homes

Approximately 153,000 homes in Austin and Travis County were built before 1978 – when lead-based paint was still common.
flickr.com/editor

The City of Austin has received a federal grant to address health problems posed by some older homes. The city already has a program to inspect for toxic lead-based paint

The $2.5 million grant will also allow the city to take care of pest and mold problems in older homes and to install smoke and carbon monoxide detectors. The grant will provide for services to 138 homes.

 

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Austin
4:34 pm
Wed May 1, 2013

Austin Apartment Demand Rising - Along With Supply

The market is looking up for Austin apartments.
courtesy flickr.com/ahockley

Finding an apartment in Austin keeps getting harder, even as more units are being built.

The real estate tracking firm Austin Investor Interests says occupancy rates edged up to 95 percent in the first three months of the year. Rental rates grew more than 2 percent in the first quarter. Robin Davis with Austin Investor Interests says more than 16,000 units are under construction.

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Austin
7:43 pm
Wed April 17, 2013

Austin Clears Housing and Construction Permit Backlog

Flickr/austin tx http://www.flickr.com/photos/austintx/

The City of Austin says it has cleared a major backlog of residential permit reviews.

The Planning and Development Review Department’s director Greg Guernsey says they processed more than 650 applications in the last month. The backlog had resulted in people waiting weeks to get city approval for renovations or new home construction. 

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economy
7:18 pm
Fri March 29, 2013

Austin Unemployment: 5.4 Percent

Construction saw the largest percentage gain in Austin metro job growth.
KUT News

The Austin metro area’s unemployment rate is down almost one percentage point from a year ago, according to numbers released Friday. The jobless rate in the Austin-Round Rock-San Marcos area was 5.4 percent in February. That compares with 6.2 percent from a year ago.

The industry sector with the largest percentage gain was construction. For real estate analyst Mark Sprague with Independence Title, it comes as no surprise.

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