All Forum Posts by: Neil Narayan

It's no fun to mow in 100+ degree weather ;)

The inventory of homes for sale is startlingly low. The pandemic is part of the reason, but it’s not the whole story.

Today, if you’re looking for one, you’re likely to see only about half as many homes for sale as were available last winter, according to data from Altos Research, a firm that tracks the market nationwide. That’s a record-shattering decline in inventory, following years of steady erosion.

The pandemic will also eventually subside, and people will gain more certainty about remote work, and more confidence about having strangers in their homes. But for anyone waiting for the typical spring surge in inventory, these reasons for optimism may not materialize in time.

In normal years, inventory hits its annual low point around now in February and then starts to trend up.

https://www.nytimes.com/2021/0...

Homes will continue to sell as soon as they hit the market, expert says

Austin’s white-hot residential real estate market doesn’t appear to be cooling down anytime soon – even with last week’s record-breaking cold weather.

Housing inventory for the Austin market dropped to an all-time low of 0.4 months in January, according to the Austin Board of Realtors. That’s down from 0.6 months in December and 0.9 months in November. Experts believe a healthy home market has an inventory closer to six months.

There were twice as many closings as active listings in January, according to O'Grady, which points to homes selling without ever being listed on MLS.

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

In those areas you may also have HOA restrictions on ADUs

Congrats @Matthew Tregoning you chose well :)

For the third year in a row, Austin took the No. 3 spot on the Milken Institute's Best-Performing Cities report.

Milken's index ranks cities on a variety of metrics, including jobs, wages, salaries and technology output. It's designed to help the public and private sectors evaluate and compare cities throughout the nation. It is particularly handy for Realtors, job recruiters and site selectors.

Austin was put in the "tier 1" category. It's the first time Milken has broken cities up by tiers.

Milken ranked the top tier 1 cities this way:

1. Provo, Utah

2. Palm Bay, Florida

3. Austin

4. Salt Lake City, Utah

5. Raleigh, North Carolina.

No other Texas cities were in the top 10.

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

@Robert Eyers can help you out 

At least according to the Council for Community and Economic Research's Cost of Living Index. The name alone may sound complicated, but thankfully Christy Bieber, a personal finance and legal writer, broke down the data—in addition to information from both the Bureau of Labor Statistics and U.S. Census Bureau—on to pinpoint the single most affordable city in the country.

Now, heads up: “Affordable” does not necessarily mean “cheapest.” Per Bieber: “[T]he most affordable places to live aren't just cheap—they also provide residents the opportunity to earn enough money to live.” Therefore, the most “affordable” city was determined by the ratio of median income to the estimated cost of living (aka things like the cost of groceries, housing, utilities, transportation, healthcare and miscellaneous goods and services).

https://www.purewow.com/travel...

@Geeta Sharma Just make sure the HOA CC&Rs don't have any restrictions on leasing or caps. Most don't with SFR.

there was a recent post on BP that stated that Austin is the most recession proof city in US.