Omni Barton Creek Adding New Hotel

The Omni Barton Creek Resort & Spa will be demolishing a parking garage and additional buildings in order to build a new 10-story hotel. The new hotel at 8212 Barton Club Drive will include over 100 rooms, an almost 90,000 square foot conference center, a restaurant, and guest parking, according to the Austin Business Journal as reported by the Real Estate Center at Texas A&M University. Dallas-based Omni Hotels & Resorts plans …

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Homes in 78746 Now Average over $1 Million

Homes in the 78746 area code, one of the wealthiest zip codes in the Austin region, now average well over a million dollars, with the most recent Austin Board of Realtors® Local Market Report showing an average price for single-family homes of $1,165,984 for the month of April 2017 and $1,301,304 for year to date. This is a year over year increase of 3.4 percent and 15.7 percent, respectively. Median …

Texas Adds 9,500 Jobs in March 2017

The Texas economy added 9,500 seasonally adjusted nonfarm jobs in March 2017, according to the Texas Workforce Commission. The unemployment rate for the same month increased to five percent, up .1 percent from February 2017. Over 249,000 jobs have been added over the year, according to TWC Chairman Andres Alcantar. “Texas employers continue to boost the diverse Texas economy by adding jobs,” he said. “I encourage job seekers and students …

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Austin Luxury Home Market Gaining Steam in 2017

Austin luxury home sales gained momentum in February 2017, a positive indicator going into the new year, following what market analysts and real estate agents and brokers considered a “sluggish” 2016 in the high-end Austin real estate market. In February 2017, 41 luxury homes sold in the Austin area, 13 more homes than the previous February, according to a report in the Austin Business Journal and as reported by the …

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Lake Austin Spa Resort Offers Evenings of Insight & Entertainment

The Lake Austin Spa Resort is offering Evenings of Insight & Entertainment this Spring at the destination resort’s LakeHouse Spa set in the beautiful Texas Hill Country outside of Austin. Attendees must RSVP in advance but are not required to be guests of the resort. First up is Tastes of India with prestigious Chef Paul Bhalla on Thursday, April 13 from 5:30 p.m. to 6:30 p.m. in the Aster Café. …

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Texas Housing Weathers Rising Interest Rates

Demand for Texas housing weathered mortgage rate increases in December 2016, according to a Texas Housing Insight report authored by James P. Gaines, Luis B. Torres, Wayne Day, and Wesley Miller with the Real Estate Center at Texas A&M University. Additionally, according to the report, “strong demand overtook modest supply increases.” Prices remain one of the big stories of Texas real estate, with briskly rising prices since late 2011. The …

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House Flipping: Not So Common in Austin, Texas

While a look at reality television might make it seem like house flipping for profit is all the rage, Austin has one of the lowest rates of house flipping in the nation, according to Austin Housing Market Research by the Real Estate Center at Texas A&M University. At only 3.4 percent of home sales, a “booming residential real estate market and extremely low inventory levels” are the causes for the …

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Texas Has Strong Luxury Home Sales in 2016

The Texas luxury home market had a strong first eight months of 2016, according to the Texas Luxury Home Sales Report released by the Texas Association of REALTORS®, which looked at homes priced $1 million or higher in the major areas of Austin, Dallas-Fort Worth, Houston, San Antonio, Corpus Christi, and Midland. “The details of a million-dollar home vary—it could be a lakeside property in Austin, a luxury condominium in …

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Austin Top in Nation for Real Estate Investment and Development

Austin is the top real estate market in the nation to watch for real estate investment and development, according to the Urban Land Institute’s 2016 edition of Emerging Trends in Real Estate. Austin, which has been a top 10 fixture for the past few years,  switched places with Dallas, which had been the top market in 2015. Houston topped the list in 2014. The Austin market “has benefited from a …

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New Home Start Crunch in Texas

New home starts in Texas took a dive in August 2016, down 21.6 percent seasonally when adjusted for year-over-year comparison, despite being up over the year and over the month. This is despite high demand throughout most of the state, according to the Real Estate Center at Texas A&M University’s latest Texas Housing Insight report. Center Research Economist Dr. Luis Torres said the slowdown is being caused by a shortage …