real estate

Turning The Corner
11:55 am
Fri May 16, 2014

Gentrification or a Renaissance in Austin's Dove Springs Neighborhood?

The new Arbor Ridge development located on Nuckols Crossing Road has some homes finished and some under construction.
Ilana Panich-Linsman/KUT

Dove Springs in Southeast Austin is just six miles from downtown – what many real estate agents consider a prime location. But the area is also one of the poorest parts of Austin. And for decades, it's had a less than desirable reputation.

Despite all that, change is coming to Dove Springs – with some believing they're witnessing the beginning of gentrification.

The area has traditionally been filled with low-income renters, many who are recent immigrants and don't speak English. Data may still point to those facts. But on the ground, the neighborhood is going through what many believe is a fast transformation.

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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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Austin
9:09 am
Thu January 2, 2014

Austin's Sizzling Housing Market May Cool in 2014

The number of Austin homes on the market in 2013 were at a 13-year low, while home buying was at an all-time high.
Credit KUT News

Austin's housing market had one of its hottest years on record in 2014, but some economists are looking for things to slow down in 2014.

Even without December's numbers, the Austin area recorded more home sales than ever in 2013 — almost 31,000 single-family homes, condos and townhomes were sold, a 20 percent increase over 2012. The average home sales price was higher than ever as well at $286,000. 

But as the city continues to grow, the market is becoming more competitive and some say a 2014 dip in sales will benefit Austin's market in the long term.

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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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Agenda Texas
8:00 am
Fri October 11, 2013

Expanding Reverse Mortgages on November Ballot

Proposition 5 would let Sr's purchase homes with a reverse mortgage.
Ben Philpott

Texans head to the polls later this month to vote on constitutional amendment propositions. Though water funding is receiving the most attention, there are 8 others to consider, including one that expands the use of what’s called a reverse mortgage in Texas.

A reverse mortgage is a financial tool that allows senior citizens to receive equity payments each month while staying in their home. The reverse mortgage is paid back, with interest, only after the house is sold when the owner either moves out or dies.

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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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real estate
1:11 pm
Tue August 20, 2013

Austin Sold the Most Homes in its History Last Month

3,135 single-family homes were sold last month. That's 35 percent more than July 2012.
flickr.com/digallagher

The white-hot Austin real estate market just broke another record.

The Austin Board of Realtors says home sales were up 35 percent last month in the Austin area compared to last July. Some 3,135 homes were sold last month – the most homes sales ever recorded in Austin. And homes are selling faster – spending an average of 41 days on the market. A year ago, homes spent an average of 64 days on the market. 

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Real estate
8:02 pm
Wed July 24, 2013

Report: Austin Apartment Rents at All Time High

http://www.flickr.com/photos/ashley_brown/4256127642/

Apartment prices are at a record high in the Austin-area, averaging $1.15 per square foot, according to a report by Austin Investor Interests.

More people are moving to Austin and there hasn’t been a lot of new apartments constructed, although that is changing. But many of the new apartments being constructed are centrally located and aren't cheap.

“A lot of these units average a much higher price, $1.39 a square foot, with at least a third of these units being in the 78704 zip code or in the Central Business District, which averages $1.70 up to $2.50 a square foot," said Robin Davis with Austin Investor Interest. "These new units will raise average rents fairly significantly, but rents are also rising on average 5 percent anyway without these units."

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real estate
7:03 pm
Mon July 22, 2013

Five Reasons Why Austin Home Sales Dipped in June

flickr.com/bcostin/

Home sales in the Austin area fell from May to June. The drop was unexpected because of the strength of the housing market in Central Texas and because June is a prime time to buy homes.

The Real Estate Center at Texas A&M University analyzed MLS listings and found there were 3,085 sales of single-family homes, townhomes and condos in June. That's down from 3,157 sales in May.

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economy
6:52 pm
Thu June 20, 2013

Austin-Area Home Sales Jump 29%, Setting New Record for May

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

More homes sold in the Austin-area last month than in any May on record, according to a report by the Austin Board of Realtors. Their analysis of MLS Listings shows 2,991 homes were sold in May, an increase of 29 percent over the same month last year.

The increased demand sent the median home price up by eight percent to $231,500. The average home is sitting on the market for just 44 days, which is 19 days less than May last year, according to the report.

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Politics
6:22 pm
Wed May 8, 2013

House Gives Initial OK to Flat-Dollar Homestead Exemption Bill

Texas homeowners could get tax relief if a bill on homestead exemptions becomes law.
Courtesy of heatheronhertravels.com

Cities and counties would have one more tool to give tax breaks to Texas homeowners if a bill by an Austin lawmaker becomes law.

HJR 138 by State Rep. Eddie Rodriguez, D-Austin, would require voters to approve it in November. That’s because it would amend the Texas Constitution, which allows local governments like cities and counties to give up to a 20 percent homestead exemption. This bill would let them give a flat-dollar exemption, too, an option that only school districts in Texas have.

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Austin
11:47 am
Tue April 23, 2013

The Austin Program That Offers Down Payment Cash for Homes

Guadalupe Alcalá bought her home with assistance from a city program. She was recently able to refinance her home without having to pay a penalty to the city.
Joy Diaz, KUT News

There’s a little-known program run through the City of Austin that provides down payment money to low-income people free of charge. Of course, there's a catch: homeowners must live in the property for 10 years, or pay the city back.

Those who bought in when interest rates were almost twice what they are today, now wonder how can they refinance their mortgage without having to repay the city.

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Austin
10:54 am
Mon April 22, 2013

The Top 10 Austin Top 10 Lists

The Internet's list makers ceretainly haven't given up on Austin.
flickr.com/dingatx

If you asked the Internet, it might tell you that Austin's a hipster-loving, small business-starting, traffic-riddled, undiscovered yet overrated place that keeps it weird. The web's traffic-baiting list-makers rank Austin as a leader in categories from fitness friendliness to porn consumption per capita.

But you're not asking the Internet, you're asking KUT News. And, as has been done a couple times now, KUT News has compiled a list of lists honoring, tweaking and trashing Austin over the past few months. Here's the third installment of The Top 10 Austin Top 10 Lists:

  • Big time for small business: Business website Thumbtack.com saluted Austin for business-friendly regulations and low licensing fees, ranking the city tops in the U.S. for small businesses. But the crowning stems partially from the state’s spartan regulation, as the survey also named Dallas-Fort Worth and San Antonio in its top 10.
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Real Estate
3:26 pm
Fri April 5, 2013

Austin-Area Home Starts Up 27 Percent

Garreth Wilcock/Flickr http://www.flickr.com/photos/gjmj/5793428199/

New home construction is up by 27 percent in the Austin area, according to MetroStudy. The real estate tracking firm says there were 1,952 starts in the first three months of the year. That’s 413 more than the same quarter last year.

MetroStudy’s Austin market director Madison Inselmann says the surge in new building is helping to lift pay for construction workers.

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real estate
11:25 am
Thu March 21, 2013

Austin Home Sales, Leases Continue Their Climb

Austin home sales, sale prices and rents and are continuing their ascent.
flickr.com/fabfemme

Austin-area home sales were up 26 percent in February, according to the Austin Board of Realtors.

The board also reports the median sale price grew by seven percent to about $208,000. That’s in no small part because the number of homes on the market is much lower. At the current pace of sales, it would take about two-and-a-half months to sell all the homes on the market right now. That compares to four months a year ago.

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real estate
1:35 pm
Wed February 20, 2013

Austin Home Sales Up 33 Percent in January

Fewer homes are on the market than a year ago - and that appears to be driving demand.
flickr.com/digallagher

The number of single-family homes sold in the Austin area rose by 33 percent last month compared with January 2012, according to an analysis of the Multiple Listing Service by the Austin Board of Realtors

The group also says the median price for homes grew by 10 percent over the past year to reach almost $200,000, although experts say those price increases vary wildly from neighborhood to neighborhood.

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Real Estate
1:11 pm
Fri February 1, 2013

Texas Home Sales End Year on a Bang

Bunches and Bits/Flickr http://www.flickr.com/photos/bunchesandbits/4714938136/

The Texas real estate market rang out 2012 on a high note, according to the latest reading from the Texas Association of Realtors. It says 56,488 single-family were sold across the state in the fourth quarter of last year. That's an increase of almost 20 percent over the same period in 2011. 

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real estate
6:15 pm
Tue January 8, 2013

Forecast: Almost 10,000 New Home Starts Expected in 2013

Nathan Bernier, KUT News

Construction could begin on 8,800 to 9,600 new single-family homes in 2013, according to an annual forecast by Eldon Rude, the Austin analyst with the real estate tracking firm MetroStudy. Rude delivered his forecast this morning before a group of realtors and home builders. The growth would represent an increase of 10 to 20 percent. 

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real estate
2:39 pm
Thu December 20, 2012

Central Texas Home Sales Hit 5 Year High

An Austin home listed for sale in November 2011
Flickr user fabfemme http://www.flickr.com/photos/fabfemme/6312897308/

It’s probably the last measure of the Austin housing market we’ll get this year. And the Austin Board of Realtors' newest report suggests home sales are ending 2012 on a high note.

Austin-area home sales hit a five year high in November, according to the report, the 18th straight month of increased sales. Last month, 1,671 single-family homes were sold. That’s  23 percent more than in November of 2011.  Condominium sales increased slightly more, by 26 percent.  

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