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Beware, home buyers: A record number of homes are selling above their asking price
This year’s spring home-buying season is set to be one of the most competitive ever, as the pandemic continues to stoke interest in homeownership. And home prices are skyrocketing as a result. A new report from real-estate brokerage Redfin RDFN, -0.22% found that 39% of homes sold above their listing price during the four-week period ending March 21, an all-time high. That figure is 15 percentage points higher than during the same stretch of time a year ago. The median home-sale price was $331,590, Redfin reported, which represented a 16% increase from a year ago. Researchers noted, though, that the year-over-year comparisons may be skewed by the fact that around a year ago, states were…
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7 things to know in Austin food right now
The city’s most Instagramable Mexican eatery, Gabriela’s Downtown, is planning a South Austin expansion. Founded by siblings and Michoacán natives Gabby and Arturo Bucio, Gabriela’s Downtown opened in early 2018 and has since garnered a great deal of social media attention for its DJ-scored brunches, house-made choriquesos, and hearty mole enchiladas (and who could forget their colorful array of alcoholic options including fruity margarita flights and chamoy-rimmed Modelos). A baby-blue banner announcing the Bucio family’s expansion currently hangs over Gabriela’s forthcoming south location at 9600 S. IH-35, Unit B-500, which is on track to open in spring/summer. A restaurant/bar hybrid is shooting onto South Congress. White Tiger is the brainchild of notorious restaurateur…
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It’s important for everyone to be a good human,’ Austin teen named TIME’s Kid of the Year finalist
AUSTIN (KXAN) — A 16-year-old from Austin is one of the finalist for TIME’s Kid of the Year. TIME said Austin’s Ian McKenna was selected to be one of the five finalists for Kid of the Year out of 5,000 nominees between the ages of eight and 16 in the U.S. TIME partnered with Nickelodeon to find the TIME’s first ever 2020 Kid of the Year. The five finalists will get to contribute to TIME, be a kids reporter for TIME for Kids and receive a cash prize. McKenna uses his gardening skills to help fight hunger in the Austin area. In third grade, he built a community garden at…
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Drive-in music festival coming to Austin this month featuring Snoop Dogg, Nelly
AUSTIN, Texas — A drive-in music festival sponsored by Raising Cane’s is in the works for the cities of Austin, Dallas and Lubbock, Texas. The two-day festival dubbed “Hometown Heroes” will be held simultaneously in the three cities on Sept. 25 and Sept. 26, with some artists performing live on stage in one town while the others are streamed in from the other locations. Artists tapped for the event include big names like Snoop Dogg, Nelly, Pat Green, Randy Rogers and more. Viewers in Austin and Lubbock should expect to see headliners like Snoop Dogg, Nelly, Cody Johnson and Pat Green live. Meanwhile, those in Dallas can witness live shows…
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Austin Among Nation’s Best Real Estate Markets: Report
AUSTIN, TX — As mortgage rates hit record lows but amid a backdrop of the coronavirus, researchers sought to identify the nation’s best real estate markets — with Austin cracking the top ten list. Researchers at the personal finance website WalletHub released its report on 2020’s Best Real-Estate Markets detailing the nation’s most attractive real-estate markets in the U.S., comparing 300 cities across 24 key metrics. The data set ranges from median home-price appreciation to home sales turnover rate to job growth. Once crunched, the numbers showed Austin in the 7th overall position among the nation’s best real estate markets, and the 3rd ranking among large cities — bested only by Seattle…
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How Tesla Was Lured to Austin
Amid a frog-drowning on Sunday, several dozen members of the Austin Tesla Club gathered jubilantly in a parking lot in East Austin. Masked fans cheered as a middle-aged man flashed the Bevo with one hand and fired a flamethrower with the other. The crowd was there to celebrate the deal between Travis County and the electric car manufacturer, inked late last week, to build a $1.1 billion, two-thousand-acre factory, named Giga Texas, in the tiny municipality of Del Valle, near Austin-Bergstrom International Airport. The proposed Tesla plant, which will produce Cybertrucks and Model Y SUVs, is expected to be a billion-dollar investment that will employ five thousand in manufacturing jobs…
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Will mortgage interest rates hit 0%?
One of the top questions that buyers and sellers have been asking in recent weeks is “are mortgage interest rates going to hit 0%”? The answer this question is no. Most economic analysts predict that mortgage interest rates will never go as low as 0% but it’s possible that we could see them dip down to as low as 3% (or lower) by 2021. Regardless of how low mortgage interest rates get, if you’re thinking of buying a home, you shouldn’t wait for interest rates to continue sliding because rates are considered to be historically low right now and that means that you should not hesitate to take advantage of…
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Migration Insights For The Austin Texas Area
If you’ve lived in the Austin Texas area for more than 10 years, you know that the ATX area looks nothing like it did in the 1990’s or early 2000’s. How has the Austin area grown over the last 10 years? Thanks to recent migration stats from Texas National Title we know the following about how many people have migrated to Austin over the last 10 years. Annually since 2010, the Austin metro area gains about 30,800 people a year from domestic migration, 7,300 from international migration, and 16,500 from natural increase. Austin ranks first among the top 50 largest metros for new residents as a percent of total population.…
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Austin Texas Real Estate Market – Fall 2019 Update
It’s hard to believe that fall is almost here and another year is getting close to wrapping up! In spite of the up and down nature of the stock market and the economy, the real estate market has remained steady and continues to be one of the best investments. If you’ve been thinking about buying, selling, or are curious about how the real estate market is doing, this e-newsletter will provide you with information on the real estate market. Interest Rates As of September 12, 2019, the current interest rate for a 30-year fixed mortgage loan is about 4% depending on the mortgage company that you choose. Rates are expected…
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What Will Austin Look Like in the Next 10 Years?
Are you planning on moving to Austin Texas but are wondering what the area will look like in the next 10 years? If so, you’re not alone. The ATX area is without a doubt changing every year and old buildings are being demolished in favor of new construction. The good news is that not all change is bad and from this point forward we have a good idea of what the Austin area will look like in the next 10-20 years. Thinking About Future Development The sprawling Austin American-Statesman complex has never been much to look at. Built in 1980, the nondescript building consists of more than 300,000 square feet…
