Austin Housing Market Strong But Slowing As Income And Home Prices Diverge, Expert Says

kut.org

Austin shouldn’t expect the housing market gains it has seen in the past couple of years. That was the prevailing sentiment delivered by Eldon Rude,

Our local economy is still strong, but one of the biggest threats to our housing market and others like Denver or Seattle is that wages aren't keeping up with home prices. We need more homes for more people in every neighborhood in Austin. http://www.kut.org/post/austin-housing-market-strong-slowing-income-and-home-prices-diverge-expert-says

Home Builders Association of Greater Austin

Developers expect to see more projects like this in the suburbs because they can build more housing outside of Austin than they can in the city. "The process that the city has us go through to create even one or two units of housing, it often takes a year or more and the more units you want to create, the longer it takes generally," said Scott Turner, a board member with the Home Builders Association Of Greater Austin. Just to keep the status quo of housing stock, City of Austin staff tell KVUE News the city needs 135,000 new housing units to be built over 10 years. Of course that was before Apple announced plans to add up to 15,000 new jobs. Developers say it all comes down to the city's land development code. Many say it's long, complicated, the permitting process takes too long and the rules make it expensive to build in Austin. "It takes just as long to build a 220-unit apartment complex like the one here as it does to get four units out of the ground in the City of Austin," Turner added. "So it really is a lengthy process no matter what type of housing you're building." The plan to re-write it, Code Next, was thrown out the window and as of now the City Council is waiting on recommendations from the new City Manager about how to move forward. #ATXHousing

Home Builders Association of Greater Austin

“From a #homebuilding standpoint this really illustrates the need for land-use reform,” HBA member Scott Turner said. “Until we are able to build more types of housing everywhere in #ATX at every price point, the next time a company like @Apple tries to expand they will have to think twice because they won’t have anywhere to house their workforce.” #ATXHousing Community Impact Newspaper

Turner Residential

IS YOUR HOME IN THE NEW FLOODPLAIN? Floodplains are changing nationwide due to global warming, including those in Austin. Here's how to check if your property is in the new floodplain: Go to www.ATXFloodPro.com Click the "I want to" button, then "Explore Atlas 14 Changes" Enter your address and click on "Search." Areas shown in blue are mapped within the 100-year floodplain currently. Purple areas indicate the interim 100-year floodplain, based on Atlas 14 and our new understanding of flood risk in Austin. To print or download a map of your property, click the "I want to" button again and select "Print a Floodplain Map." Check the circle next to "Custom Map" and then the circle next to "Atlas 14." Choosing "Print Current" will prepare a map of the area you are currently zoomed in to.

Evolve Austin

Our friends at Strong Towns are running a feature on #CodeNEXT all week. Follow along with us! ‪https://www.strongtowns.org/journal/2018/9/17/austins-codenext‬

This lone house on a large lot in downtown Austin will soon be *two* homes in downtown Austin, flanked by a gorgeous live oak tree. This addition to Austin’s housing stock, while small, will help create space for greater housing choice and ensure everyone thrives as our city grows. It’s an image that we all should look forward to, and that will position Austin as a city that is inclusive, open and sustainable. That’s what #urbaninfill is all about.

The New Housing Crisis: Shut Out Of The Market

npr.org

Ten years after a housing collapse during the Great Recession, home values have rebounded but there are too few homes on the market. Buyers face intense competition, and that means higher prices.

Home values may have rebounded from the recession, but people who want to buy a new home are now often priced out of the market. There are too few homes and too many potential buyers. According to researchers at the Federal Reserve Bank of Kansas City, home construction per household is now at its lowest levels in nearly six decades.

Are student loans and avocado toast really keeping millennials from buying homes?

dallasnews.com

Jake Buzzard is, as those millennials say, living his best life.The 32-year-old central Illinois transplant has worked his way up to a...

Even though almost all millennials want to own a home at some point, only a quarter actually do right now, far fewer than previous sets of young adults. They're saddled with unprecedented student loan debt, fast-appreciating rent payments and face supply-starved housing markets in cities across the country. Avocado toast is just a drop in the bucket.

Josh

Gratefule to have handled the transaction of two lots on Curtis Ave and E 22nd 78702 for Riverside Homes. Riverside Homes is bringing their high end quality builds from 78704 to the east side. Coleto Corner, by Riverside Homes is just around the corner and almost complete! https://riversidehomesaustin.com/current/coleto-corner

Thank you, Josh!

Stylish modern luxury minutes from Barton Springs. - Turner Residential

turnerresidential.com

2010 Goodrich 8A is the crown jewel of Copeland Court. Featuring clean lines, thoughtful design, and avant-garde modern style, this stunning modern farmhouse showcases the custom home building expertise of Riverside Homes.

The crown jewel of #CopelandCourt, 2010 Goodrich 8A, is for sale. Featuring clean lines, thoughtful design, and avant-garde modern style, this modern farmhouse truly showcases our custom home building expertise. Superior construction quality, attention to detail and premium finishes by award-winning SLIC Design, make this home easy to live in and easy to maintain - allowing you more time to enjoy one of Austin's coolest neighborhoods or relax by the custom pool! ⛱️🏊‍♀️🍹 Follow the link to learn more. 2010 Goodrich 8A | $1,362,000 | Amanda Trevino, Realtor | 512.698.2822

These vein-matched quartzite counters in our final #Copelandcourt custom are too cool. 😎 This beauty located in Zilker, one of Austin’s coolest neighborhoods, will be hitting the market soon - stayed tuned!

Our latest project on the Eastside is moving right along, and all of the units have presold! The demand for more affordable housing options in Austin’s urban core is high. By building accessory dwelling units along with the main houses, we were able to provide more affordable units than if we were only allowed to build one house on one lot. Imagine what kind of affordability we could bring if we were allowed to build 4-6 homes for families on one lot. 😀

Builders help pay Austin ISD student lunch debt

kvue.com

Builders and developers from the Austin Infill Coalition are helping Austin ISD pay off $30,000 in debt accrued from unpaid school lunches.

Yesterday, Austin Infill Builders presented the $10,000.00 more than 50 builders raised to pay off 3400 student lunches! "We build in these communities and we want to be able to give back to these communities and I can't think of a better way to give back to the community than helping out the schools in the community." We'd like to pay off the entirety of the debt, so we're still raising funds. Interested in contributing? You can donate here: https://edbacker.com/c/20172018-help-keep-student-meal-accounts-current

Austin Infill Builders Band Together to Pay Off Student Lunch Debt

riversidehomesaustin.com

In less than two weeks, local Austin infill builders raised $10,000 in less than to help pay off the lunch debts of Austin ISD students.

Austin infill builders don’t just build in Austin’s neighborhoods; we care about our communities. In less than two weeks, Riverside Homes along with many other Infill builders in town helped raise $10,000 to pay off the lunch debt of 3,400 Austin ISD students. We're so proud to be involved with such a great group of people!

Evolve Austin

Thank you to everyone who came out to tell planning commission that they need to make big changes to #CodeNEXT Draft 3 in order for us to have a code that allows Austin to grow affordably and sustainably. There was a lot of great testimony, particularly from Austin's future generation, advocating for a compact and connected Austin with a diversity of housing types throughout the city. You can check out the highlights right here.👇

Thank you to everyone who came out to tell Austin's planning commission that we need a diversity of housing types in #CodeNEXT so that we can be a diverse city. Prioritizing single-family zoning places housing out of reach for the vast majority of newcomers and the next generation in our city. There was a lot of great testimony. You can check out the highlights right here.👇

Better Code ATX | Home

bettercodeatx.com

Better Code ATX means well-managed development. Mobility, affordability and opportunity can all be dramatically improved with a simplified land development code.

As the CodeNEXT process heats up at Austin City Council, we hear the same question being asked over and over: What exactly is CodeNEXT and how will it affect me? Fortunately, the Austin Board of REALTORS® has put together an incredible, user-friendly webpage that includes facts and figures, explainer videos, FAQs and more, detailing why Austin needs a new land development code to allow our city to grow sustainably and affordably. We hope you find this as informative as we did!

We are pleased to share that Riverside Homes was awarded "Best Urban Infill Project of the Year" for our Bluebonnet project. Creating density through infill development is increasingly seen as a viable method to create a range of housing opportunities in the city’s center. 2013 Bluebonnet‘s narrow, deep-set lot posed design challenges, but the centrally-located deep lot made it ideal for the construction of a single-family home and a small accessory dwelling unit (ADU). By building two units on a single-lot, we were able to provide more attainable urban housing. This project was a success thanks to our incredible team and partners. We'd like to extend our sincere gratitude to Reach Architects, Slic Design, our director of construction Casey Fowler, project manager Matt Arnold, the many fantastic trades we work with, and the Home Builders Association of Greater Austin. Thank you!

Central Austin homes unaffordable for area’s middle class | Community Impact Newspaper

communityimpact.com

Mar 27, 2018: In 2016, 10 years after she graduated from The University of Texas at Austin, then-Austin resident Jenny Sanzo and her husband, Evan, wanted to stop renting and buy their first home. At an entry-level price point of $200,000, Sanzo, who works downtown as an accountant for the Office of...

"Proposals to subdivide large, expensive lots in order to build smaller, less expensive homes—commonly referred to as “missing middle housing”—require a long permitting process and often receive heavy pushback from the neighbors, he said. “I want to deliver houses to young families, but our [land development]code is trending toward the million-dollar home,” Whitworth said. “Our code makes the wrong product easier and does not even allow [a middle-income]product.'" We've been building homes in central Austin since 2001, and we can concur our experience has been very much the same. We're beginning Austin city council to please allow us to build smaller, more affordable units! 🙏

Bearer of Bad News

youtube.com

Evolve Austin board member Eric Goff makes a case for using CodeNEXT to ensure Austin has enough dens to make traffic and the cost of living in our city bear...

Not allowing the construction of more housing in central Austin is bad news bears. If we want the cost of living and traffic to be BEARABLE, we gotta build more dens. 🐻