All Forum Posts by: Bryan Noth

The new article has a separate thread but I wanted to post an update here as well for any following the story development from this original post:

"Project Evergreen" is the name given to the proposed Micron Facility South East of Austin, TX. Micron has filed for the incentive package under the Chapter 313 program. It is worth mentioning that this incentive program is set to expire at the end of this year. Currently, any business that locks in the incentive program by the end of the calendar years retains the incentive benefits entirely so there will likely be news on Micron's next play in the coming months. The investment would be substantial for the Austin MSA to say the least. $80 billion would be nearly 5 times the financial footprint of the Samsung facility being built in Taylor, a North East suburb of Austin. The Samsung plant was the largest investment to date at $17 billion.

Article Link Here:

https://www.bizjournals.com/au...

"Project Evergreen" is the name given to the proposed Micron Facility SouthEast of Austin, TX.  Micron has filed for the incentive package under the Chapter 313 program.  It is worth mentioning that this incentive program is set to expire at the end of this year.  Currently, any business that locks in the incentive program by the end of the calendar years retains the incentive benefits entirely so there will likely be news on Micron's next play in the coming months.  The investment would be substantial for the Austin MSA to say the least.  $80 billion would be nearly 5 times the financial footprint of the Samsung facility being built in Taylor, a North East suburb of Austin.  The Samsung plant was the largest investment to date at $17 billion.  

Article Link Here:

https://www.bizjournals.com/au...

That NW Corner of Austin / Round Rock / Hutto is getting more and more attractive as an investment.  The sheer number of employers currently there as well as those incoming is impressive.  Thanks of sharing @Ryan Kelly

@Rizwan H.Strong areas you mentioned in the Austin MSA.  Happy to help if you need, I personally have all of those type of investments in the area.  

That's a wide net @Michelle Francois but happy to help in regards to the Austin area.  Agent and active investor here!

"Houston-based real estate developer Hines purchased the land earlier this year with the intention to create Mirador, a master-planned community that includes 2,500 single-family lots and 75 acres of commercial space.

The project also includes 50 acres of multifamily homes and townhomes, as well as on-site amenities including a 60-acre lake, more than 600 acres of greenbelt, trails and a swimming pool."

For reference this is located South East of the Austin Airport (ABIA) and about 8 miles South of the Tesla Gigafactory in Austin.

Article link:

https://www.bizjournals.com/au...

Article highlights below detailing the recent filings for the development indicate project scope and timelines below:

"One of the planned structures is a $100 million five-level building. International firm HKS Architects, which opened an office in Austin earlier this year, is listed as the designer.

Another multi-story building also designed by HKS is expected to be 298,977 square feet and cost $118 million.

The last structure in the filing is a $61 million parking garage with nine levels and 3,500 spots for cars.

The initial phase of the tech giant’s campus could welcome 5,000 employees and maybe even reach 15,000 upon completion, Apple has said."

Quoted article link here:

https://austonia.com/northwest-apple-campus

Original Article link here in the ABJ:

https://www.bizjournals.com/austin/news/2022/08/15/next-phase-apple-campus-development.html

July 2022 Housing Market Update for Austin, TX MSA

July 2022 statistics have been released for the Central Texas Housing market. There was a slight decrease in median sales price from the preceding month and a 8% increase from the preceding year for the entire Austin Metropolitan Statistical Area.

The City of Austin saw a change in median home price from $615,000 to $633,000, a month to month increase of $18,000 and an 11% increase from the previous year. The Austin-Round Rock MSA saw a change in median home price from $537,475 to $515,000 a month to month decrease of $22,475 and an 8% increase from the previous year.

The following infographics and data is courtesy of the Austin Board of Realtors:

Housing inventory continues to slowly climb and now shows 2.7 months for the entire MSA which is a 1.8 months increase over the preceding year. The City of Austin now has 2.4 months of housing inventory, which is a 1.5 months increase over the preceding year.

I want to focus on a particular segment of the housing market data this month which is Active Listings. This is up 167% from the previous year and presents a unique opportunity for buyers. The past two years have had a resounding complaint of ‘over-bidding' and rapid price increases. But no one complained about the stellar rates they were locking in at. Today the bidding wars are the anomaly and higher rates are the primary source of buyers' woes. However, higher rates can be tweaked and this creates opportunities for creative financing strategies. FHA buyers have an almost wholly untapped potential with creative options and was one of the most suppressed avenues the previous two years for acquiring properties.

As a seller right now top dollar is tough to secure, especially if you are competing with builders. One builder in the MSA was offering a $100,000 in buyer and agent incentives (not including upgrades). This is a daunting incentive package to compete with as a seller and it would be prudent to dive into nearby comparable sales as well as nearby homes currently for sale to hone a listing strategy. Analyzing the market data today is not the same as it was the preceding two years. It may be worth mentioning that the builder effect is being felt more strongly in the growing suburbs of the MSA than Austin itself. Simply more development and builder inventory in those areas compared to the City of Austin.

Disclaimer: The information provided here is for educational purposes only, past performance is never a guarantee of future performance.

@Arman Khondker it' a solid strategy for the Austin market. Are you looking at SFH and/or duplex for there house hack? There are some great strategies right now for owner occupied that are not being utilized as much as they should.

Thanks for the mention @Lucia Rushton!

"Be fearful when others are greedy, and greedy when others are fearful"

-Warren Buffet

@Caleb Bryant @Serge DuLaudAllemans @Austin Largusa