All Forum Posts by: Neil Narayan

The number of jobs in the Austin metro was down 2.7% in January compared with the same month a year prior — ranking it the third-strongest labor market among the 50 largest U.S. metro areas.

The Austin area had 31,100 fewer nonfarm payroll jobs at the beginning of this year than it did in January 2020, before the Covid-19 pandemic caused the unemployment rate to climb. The region only trailed Jacksonville, Florida, and Salt Lake City among the top-performing cities in a March 16 analysis by the Greater Austin Chamber of Commerce. Jacksonville had 19,700 fewer jobs in January than a year earlier, which was also a decline of 2.7%, and Salt Lake City recorded a decline 5,000 jobs, or 0.7%.

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

My lender advised me something similar that there will be a jump in the IR for investor loans

Austin has again been ranked as one of the 10 best commercial real estate markets in the country, this time in a March 10 ranking from the National Association of Realtors.

The list wasn't individually ranked, so all Austin can boast is being a top 10 destination for commercial real estate. Cities making the list were expected to outperform other metro areas when it comes to drawing new residents, attracting new businesses and offering companies lower rents for office or retail space.

Austin and the other nine metros were selected after being judged on 25 categories such as GDP growth, unemployment rate, median household income, consumer spending, number of business openings, population growth and building permits for each major market, among other categories.

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

My clients just bought an investment prop there. No issues renting it out. Tenants love the community. 

Thanks for reporting back, glad to hear that they took care of it :)

LOL

NinjaRMM LLC, a remote-monitoring and management company, quietly has moved its headquarters to Austin from San Francisco. NinjaRMM has developed a cloud-native platform that remotely supervises an organization's networks, servers, laptops, workstations and other devices. Sferlazza co-founded the business in 2013 with Eric Herrera and AJ Singh. It raised a $30 million funding round in 2020 led by Boston-based investment firm Summit Partners, San Francisco Business Times reported, giving it $36 million in total funding.

Yeck said Austin’s tech scene, an ecosystem known as “a hotbed for startups outside Silicon Valley,” and the city being “a super attractive location for talent” are among the reasons behind the company’s headquarters relocation.

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

@Hanna Lupico I would say that its is very subjective and depend on the appraiser. 

I just contested two appraisals this week. I sent in my best comps and reasoning on why they should consider them and choose props based on their criteria. The first appraiser raised the value by $22k after receiving my comps. The 2nd appraiser rejected by comps and would not provide any reason on why they did so.

I would certainly challenge the appraisal and point out the lot size and give them data on why you think $5k is low for the bed/bath (i think it should be at least $10K). In the end its really up to them. Good luck

According to Opportunity Austin research, 18 new companies have landed in the area so far this year — more than triple the number in the first two months of 2020 — and have announced roughly 1,160 jobs. Additionally, 21 businesses that were already here in Central Texas announced plans to expand by the end of last month, about the same number as the year prior. Those companies have announced nearly 675 jobs.

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

LOL