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Going from living in a home with ceiling fans to one without them can be quite jarring, especially in the bedroom. According to&nbsp;Kenner Electrics, we rely on them when sleeping for a few reasons: They cool or warm the air, make the space feel more comfortable, and can emit a soothing sound that some need to fall asleep. Because of these perks, many keep their ceiling fan spinning all night long. And, once they leave the room in the morning, they usually neglect to turn it off, so the blades continue circulating throughout the day. This cycle could continue for months without the fan ever being switched off.&nbsp; While this may seem harmless, there are two main reasons why you shouldn't leave your ceiling fan on in an empty room. Further, here's a tip for how to get into the habit of turning off your fan: Treat it like a light. Just as you switch off all your lights when you leave your home, you should do the same with your ceiling fans, per South End Plumbing.&nbsp; Ceiling fans don't cool the air <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221129082826.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="768px,432px" data-align="none" data-index="0" data-file-name="image.png" data-file-size="400970" data-origin="," style="width: 768px; height: 432px;"></figure></div>Some believe that ceiling fans work to cool the air in a space, which is why many keep them on all day. However, as South Central Power Co. says, fans make us feel cooler by creating a breeze through spinning the air, but they don't actually affect the temperature in a room. Vastola Heating Cooling&nbsp;notes that fans also help evaporate the sweat off of us, which in turn makes us feel less warm. Therefore, if a fan is spinning in an empty room, it's doing nothing, as fans are only useful when there's someone underneath them. Further, because these fans run on electricity, they can actually work to slightly heat the air. As Forbes&nbsp;points out, the motor that spins the blades does emit a small amount of heat, which is redistributed back into the room. So, while a fan may make you feel colder, it's actually working to make the air just a tiny bit warmer. Ceiling fans don't save energy (on their own) <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221129083259.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="," data-align="none" data-percentage="auto,auto" data-index="2" data-file-name="image.png" data-file-size="163543" data-origin="," style=""></figure></div> Other folks may have been told that using a ceiling fan will automatically save them money on their energy bills. However, this is not the case; in fact, if you continue to use your air conditioner as normal but also turne on the fan, you'd be making your energy bill more costly (only by pennies per hour, per Pick Hvac, but still). According to Hoffman Electrical and AC, if you want to reduce energy costs while using your ceiling fan, you'll need to do three things: raise the temperature on your thermostat, turn off the air conditioner whenever possible, and turn off the fan when you leave a room. This could save you money because you'll pay less to cool your home with your air conditioner, assuming that your ceiling fan alone can create a comfortable temperature. If you do all this, you could save 15% on your energy bill (before factoring in the cost of the ceiling fan's energy). Also, if you have a window air conditioner, a ceiling fan can help distribute the cold air in the room — though it won't save you money, per South End Plumbing. And, if your home has warm or cold areas, a fan could make the space's temperature feel more even.&nbsp;

Why You Shouldn't Leave Your Ceiling Fan On If You Aren't Home  

The Most Important Factors To Identify Before Buying A Home  

A quickclaim deed is a type of real estate transaction document that can be employed when selling a property or amending the ownership information regarding a home. Investopedia notes that quickclaim deeds involve additional risk over the traditional warranty deed that is used during most&nbsp;home-buying efforts. The warranty deed is the standard practice when it comes to a typical real estate purchase. Warranty deeds involve protections for both the buyer and the seller, and they ensure that liens or other obligations associated with the property aren't transferred unwittingly to a new owner. A quickclaim deed, also known as a quitclaim deed or simply a quitclaim, doesn't involve this same level of protection. Therefore, a buyer who transfers ownership to themselves through the use of a quickclaim deed might be on the hook for additional fees, tax liens, or other financial obligations tied to the property. However, there are some aspects of a quickclaim deed that are immensely beneficial, and they often find use in certain regions of the real estate marketplace. Continue reading to learn if the quickclaim deed is the right way to approach the maintenance of your real estate interests. These deeds involve greater speed in transferring ownership or amending information <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221121013256.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="659px,371px" data-align="none" data-index="4" data-file-name="Capture.JPG" data-file-size="62595" data-origin="," style="width: 659px; height: 371px;"></figure></div> The primary benefit of the quickclaim deed is the fact that it is indeed quick. The formal processes involved in a traditional warranty deed can drag the transfer of ownership out by a significant margin. These types of deeds involve numerous checks, additional documentation, and more. Conversely, a quickclaim deed is a simple process of transferring ownership entirely, warts and all, so to speak. But, LegalZoom suggests that quickclaim deeds are the preferred method in certain regions of the real estate market (particularly when a sale isn't happening). This may occur when selling a property that has been repossessed, or when two people get divorced and need to settle ownership issues involved in their jointly held home. The quickclaim deed is the fastest means of amending discrepancies or issues in the existing documentation or transferring the ownership of a property from the bank or other lender to a new buyer in an effort to recover a debt. Speed is highly prized in these types of scenarios and so quickclaim deeds are typically employed instead of the more substantial warranty deed that is found in a more traditional real estate transaction. Quickclaim deeds are often employed when changing specifics of a deed among family members<div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221121013933.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="664px,373px" data-align="none" data-index="7" data-file-name="image.png" data-file-size="361168" data-origin="," style="width: 664px; height: 373px;"></figure></div> Quickclaim deeds may be used as a favored means of amending a home's title as well. If you own a property and then get married, using a quickclaim deed is the best way to add your spouse as a co-owner of the home. Similarly, if you are gifting or willing your home to a family member, quickclaim deeds make this transference faster and easier than the typical process involved in selling the property to a third-party buyer. When dealing with family members, the people involved in the transaction know each other intimately and are far less likely to fall victim to scams or other malfeasance. As a result, the relative degree of risk involved in the new owner taking possession is minimized substantially or entirely. Therefore, the risk involved in the use of a quickclaim deed falls by the wayside, as it really only applies when dealing with people you don't know or don't trust for some reason or another. Quickclaim deeds are an excellent way to amend a title record or to transfer ownership to a family member in a simple and rapid process, but Investopedia notes that this should only really be used when you trust the other person involved.

What Is A Quickclaim Deed When Selling A House? 

Architecture studio&nbsp;<a href="https://www.dezeen.com/tag/hks/">HKS</a>&nbsp;has released plans for a&nbsp;<a href="https://www.dezeen.com/tag/supertall-skyscrapers/">supertall skyscraper</a>&nbsp;to be built in&nbsp;<a href="https://www.dezeen.com/tag/austin/">Austin</a>, Texas, which will be tallest building in the state. <a href="https://www.hksinc.com/our-offices/austin/">HKS Austin</a>&nbsp;released plans for an 80-storey, 1,035-feet-tall (315 metres) skyscraper called Wilson Tower, which will be wrapped in a brise soleil. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 676px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118013705.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="676px,451px" data-align="center" data-file-name="Hk2.jpg" data-file-size="117636" data-origin="," style="width: 676px; height: 451px;" data-index="1" origin-size="852,568"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HKS announced the design of a super tall sky scraper in Austin. Taking up a half-block location on 5th Street in downtown Austin, the tower will feature a raised pedestal that cantilevers over the ground-level walkways with concrete columns.The tower itself will rise from the podium level and will be relatively flat with expansive glazing on the broad sides of the structure and a metal brise-soleil that wraps around the narrow sides, covering the rounded top. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 679px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118020100.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="679px,452px" data-align="center" data-file-name="kh3.jpg" data-file-size="100196" data-origin="," style="width: 679px; height: 452px;" data-index="2" origin-size="852,568"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The skyscraper will be 80-storeys tall "Our vision for Wilson Tower is to set a new bar in skyscraper residences for Austin that we believe will foster creativity and social connection," said HKS Austin principal Brad Wilkins."Along with welcoming outdoor terraces and gardens, the tower itself is wrapped in a brise soleil that offers protection from the hot Texas sun and wind while also providing structural strength.""This brise soleil gives the building uniquely shaded and comfortable outdoor living spaces on every level," he continued. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 679px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118020904.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="679px,453px" data-align="center" data-file-name="hk3.JPG" data-file-size="149902" data-origin="," style="width: 679px; height: 453px;" data-index="3" origin-size="1065,710"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It will have a podium and restaurants on the ground level According to the studio, the brise soleil is a specific response to the hot Texas summers. The shading will take on two different forms on the facade of the structure.On the podium, classic vertical louvres will be used to shade the interiors, while the tower itself will be covered in a blocky metal structure that changes its profile depending on the needs of the apartments. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 680px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118021504.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="680px,453px" data-align="center" data-file-name="hk4.jpg" data-file-size="99037" data-origin="," style="width: 680px; height: 453px;" data-index="4" origin-size="852,568"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The tower will be covered in brise soleil The residential tower is being developed by Austin-based&nbsp;<a href="https://wilson-capital.com/" target="_blank" rel="noopener">Wilson Capital</a>, and will have 450 apartments."We believe it is important to add intentionally designed density along the city's transit corridors to accommodate the unprecedented level of population growth Austin is experiencing," said Wilson Capital founder Taylor Wilson. Along with the variety of housing options, which span from studios to four-bedroom homes, the development will have amenities in the podium. These include a ground-floor restaurant, movie theatre, coworking spaces and a fitness centre, and the top of the podium will be a pool deck.<a href="https://brittdesigngroup.com/">Britt Design Group</a>&nbsp;will be in charge of the interiors while&nbsp;<a href="https://www.nudgedesign.com/">Nudge Design</a>&nbsp;will carry out the landscaping work on the property. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 679px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118022708.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="679px,452px" data-align="center" data-file-name="hk5.jpg" data-file-size="99706" data-origin="," style="width: 679px; height: 452px;" data-index="5" origin-size="852,568"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If completed it will be the tallest skyscraper in Texas A number of supertall skyscrapers have recently been announced in Austin, many vying for the title of Texas' tallest building. In&nbsp;<a href="https://www.dezeen.com/2022/09/08/kpf-waterline-supertall-skyscraper-austin/">September Kohn Pedersen Fox broke ground on Waterline</a>, a 1,022 feet tall (312 metres) skyscraper on the river that runs through Austin. HKS was founded in Dallas in 1939 and has since opened a number of offices in the United States and internationally.&nbsp;Recent projects by the studio in the United States include a&nbsp;<a href="https://www.dezeen.com/2022/03/30/hks-cmnty-cultural-center-black-owned-hollywood/">creative-complex development in Hollywood</a>.

HKS unveils plans for brise soleil-wrapped supertall skyscraper in Austin

Courtesy of Housedigest magazine&nbsp;BY&nbsp;TAMARA WARTA/NOV. 17, 2022 4:19 PM ESTThe housing market is always a bit of a rollercoaster, but the ride got a lot steeper and faster once the pandemic hit. What started out as a few weeks of remote work turned into seemingly permanent work-from-home jobs for a large percentage of people. More families have started homeschooling than ever before, while others took advantage of a seller's market and those stimulus checks to move out of town and onto a new destination they love.&nbsp; With all this moving and selling, buying and building, the past few years have been lucrative for real estate agents and home builders. But what does 2023 hold for the homebuilding industry? According to CNBC, the housing market has cooled off — and rapidly so. Buyers are gun shy due to high-interest rates and other uncertainties, meaning that industries like home construction — which rely upon Americans eager for fresh starts — will likely start to suffer.&nbsp; <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118120449.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="334px,188px" data-align="none" data-index="0" data-file-name="Article 2J.jpg" data-file-size="68564" data-origin="," style="width: 334px; height: 188px;"></figure></div>According to the National Association of Homebuilders via Housing Wire, homebuilder confidence is at its lowest level since October 2012. Sentiment has continuously fallen for the past ten months, meaning that 2022 was a time of slowing&nbsp;development. But will 2023 see an upswing? The answer is likely no.&nbsp; While the COVID-19 years brought low-interest rates combined with restlessness from many families desiring larger living spaces, the nation's time coming out of the pandemic has had the opposite effect. Interest rates have soared, living expenses including grocery and gas prices have skyrocketed, and many Americans are simply trying to survive instead of thrive.&nbsp; Housing Wire quotes&nbsp;Robert Dietz, the NAHB's chief economist as saying that this is the first time there's been a decline in housing starts since 2011. It's becoming crystal clear that in order to capture the interest of potential new home buyers, interest rates will need to come down again.&nbsp; Buyers pulling out <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118120650.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="361px,202px" data-align="none" data-index="1" data-file-name="Article 3J.jpg" data-file-size="60631" data-origin="," style="width: 361px; height: 202px;"></figure></div>Unfortunately, a lack of interest in new homes isn't the only issue that home builders are facing — a decent percentage of folks are canceling contracts on home builds already in progress or set to start. According to the National Association of Realtors, single-family home construction declined by 10% this year, and is expected to dip further in the new year.&nbsp; The reason? Besides scary interest rates, mortgages are more expensive and material prices are also much higher than in past years. All of these expenses are passed on to the&nbsp;homeowner, causing a financial panic for the average family. In fact, the Commerce Department states that since January 2020, it now costs 35.7% more to build a new home.&nbsp; So are any areas of the housing market thriving? It seems a good time to be a landlord. Rentals are in great demand, and multi-generational homes are more common than ever as young people can't afford to move out, and others are moving back in to care for aging parents. There are also plenty of perks with renting. As My Move explains, millennials are fine with letting landlords handle repairs, yard work, and more, as renters are too preoccupied with earning a living wage, raising a family, and trying to find a healthy balance.

What Homebuilders Are Predicting For The Real Estate Market In 2023

AUSTIN (KXAN) — Austin City Council members are set to vote this week on one of two proposed rate hikes for your Austin Energy bill, which would go into effect next month.There are two major components of all residential and commercial customers’ bills, explained Austin Energy spokesperson Matt Mitchell, the base rate, and the pass-through rate.Both are proposed to increase this year, and if city council members approve them, would total about $35 more per month for the average customer, Mitchell said.<h3 style="text-align: start">Pass-through rate increase</h3>First up for a council vote is the pass-through rate. City council members postponed the vote, so now it’s set to happen on Thursday.As it stands now, this would account for $20 of your bill increase, unless council members change this, and would go into effect November 1st.The pass-through rate is what it costs Austin Energy to buy and supply energy, Mitchell explained.Those costs include the price of energy, regulatory costs from the Electric Reliability Council of Texas (ERCOT), and transmission costs from the Public Utility Commission (PUC) — all of which are outside Austin Energy’s control.Mitchell explained that natural gas for electricity production is higher than it has been since 2008– a 106% increase just since last year.He said these are costs the agency has already paid, and now need to be recovered.“The important thing to remember is that Austin Energy is a publicly owned utility. There is no other way for Austin Energy to recover the costs, except through the fees that we that we have for our customers,” he said.Mitchell said pass-through rates go into effect once a year. He said the council set that timeline so that customers can budget that in for the whole year.“At the same time, we’re seeing so much market volatility right now in terms of energy prices and inflationary prices that council members have asked about alternate timelines,” he explained. “So… are these rates something that we should revisit every six months, or every three months?”That’s one of the options Mitchell said they’ve been discussing with city council members, and will continue during Tuesday’s work session ahead of Thursday’s vote.“Is there a way to phase in these costs and to… recover those costs, I should say, so that it minimizes the impact to ratepayers, while still making sure that the utility is financially sound? Those are the questions that really need to be answered,” he said.<h3 style="text-align: start">Base rate increase</h3>Mitchell said city council members are set to vote on the base rate increase on November 17th.As it stands now, this would account for $15 of your bill increase, unless council members change it, and would go into effect in January.Mitchell said they review the base rate every several years, as required by law (no longer than five years). This is what it costs to repair polls and wires, and pay for employees and trucks. That review process was scheduled for this year and began back in April.He explained that Austin Energy is increasing this rate because operational needs are increasing with a growing population.The change would also include a different tier system, going from five to three, and resulting in smaller energy users seeing a bigger percentage increase in bills.Mitchell explained the current structure is more than 15 years old.“[It] was predicated on the highest users basically providing for the lowest users,” he said. “But part of the issue is… there are not enough of those high users… to fully supplement those that consume less energy. So, what we’re trying to do is bring all energy all levels, all tiers closer to the actual cost of serving them. And that that was the impetus behind that proposal to go from five tiers to three.”“A phrase from where I’m from… It’s like… squeezing blood from a rock,” said Caroline Messmer, a Midwest transplant in Austin. “A lot of people’s incomes are staying the same, but prices are rising with rent, now potentially energy, with groceries, it’s– where are these people gonna get their money from to pay this?”&nbsp;She’s already dealing with a rent increase.?“So, I’ve had to reallocate funds to accommodate that,” Messmer said, explaining she’s cut back on what goes into her retirement fund.She’s also pitching in with her mom and sister as grocery prices increase.“We kind of band together and do Costco runs together, so we can split that cost three ways,” she explained.So, a proposed increase of about $35 per month in her energy bill isn’t what she wants to hear.“I can’t split my energy bill with them because they don’t live in my household. And I would definitely have to re-budget, my monthly income,” Messmer said.She said her salary is staying the same as other parts of her budget goes up, and she can’t imagine what others on fixed incomes would do.“I would feel the pressure, and I am just myself in my household. ;My sister is a single mother, and she would definitely feel that,” Messmer said.Businesses have also been vocal about their opposition to both rate hikes. Applied Materials, for example, told KXAN they’d be paying millions of extra dollars for energy.“You’re looking at operational costs that have to be covered, and you’re looking at pass through costs that have to be recovered. So, that’s not going away. And what the long term solution is is is what we’re working on right now with council members,” Mitchell said.Mitchell said usually these two rate changes are nominal; one charge will go up and one will go down. This time, he said not only Austin Energy seeing the highest natural gas prices in 15 years, but the pass-through rate increase is coinciding with the base rate review and increase.“It’s just one of those set of perfect storms where there is going to be an impact. The question is how to minimize that impact as much as possible for both our commercial and residential customers,” he said.

Austin city council members to vote on one of two energy rate hikes this week

Article courtesy of the Austin Business Journal, Aug 17, 2022As owners of more than 40 properties on the famed downtown strip between Brazos Street and I-35, Stream Realty Partners LP aims to elevate the three-block area that has a reputation for late-night drunken revelry into a central location that will continue to uphold and preserve the city’s identity as a haven for musicians and artists — with an emphasis on local business and organizations already operating in Austin.Stream Realty Senior Vice President&nbsp;<a href="https://www.bizjournals.com/austin/search/results?q=Caitlyn%20Ryan">Caitlyn Ryan</a>&nbsp;told the Austin Arts Commission Aug. 15 that the firm felt a responsibility to improve the street located in the heart of the Central Business District.“As local Austinites, we thought is was our duty to come here and really create something special,” said Ryan, who is based out of the firm's Austin office at the corner of Congress Avenue and Sixth Street.“It’s not a renovation, it's a revitalization,” Ryan added. “We are going to come and spend a lot of our own money to create a district-wide feel and have this be something that Austin can be really proud of. Music and arts are what drive this district as something that we can all be proud of. A safe haven for local Austin businesses. We want to be safe haven.”Stream ranked No. 2 on ABJ's&nbsp;<a href="https://www.bizjournals.com/austin/subscriber-only/2022/01/28/the-list-austin-area-commercial-real.html">most recent list of property management firms</a>. Its development portfolio includes the&nbsp;<a href="https://www.bizjournals.com/austin/news/2020/07/09/inside-the-office-of-the-future.html">15-story RiverSouth</a>&nbsp;office building, rising on South First Street.The company was founded in 1996 and is involved in more than $5.8 billion in real estate transactions annually, according to its LinkedIn page. Ryan said the most transformative projects on the street will occur in spaces that have been determined to have the least historical significance.“We want to get some people down there and to make Sixth Street an 18-hour day,” Ryan said. “Sixth Street does not have a bar problem. It has a ratio problem. Right not it is 5% restaurants and 95% bars. We just want to even that out a bit. We have a great opportunity to start that. We want to be careful with who we get into these buildings because we want to make sure everybody is rowing the ship in the same direction.”Stream has requested that the City of Austin approve construction up to 122 feet for an office building in the district's 600 block and more than 70 feet for a new 150- to 160-room hotel on the 500 block.Building heights are capped at 45 feet in much of the district, but June 9 City Council&nbsp;<a href="https://www.bizjournals.com/austin/news/2022/06/20/historic-designation-concerns-sixth-street-project.html">unanimously voted to direct staff to create a code amendment</a>&nbsp;that, if passed, would allow Stream to move forward with their plans to build up.The change requires approval from the Historic Landmark Commission and the Planning Commission before it can be brought to Council for a second reading prior to a Nov. 3 deadline.Stream is now moving forward with drafting the architectural plans for the proposed hotel and commercial high-rise.“To the extent that we can keep Austin’s flavor, I am there 100% because I have been here 46 years and I have seen everything change so much,” said&nbsp;<a href="https://www.bizjournals.com/austin/search/results?q=Maria%20Luisa%20Flores">Maria Luisa Flores</a>, a member of the commission. “I have seen a lot of things go away but it is sad because it means a lot of artists and musicians lose out on opportunities. I appreciate that sensitivity and including that in your vision. I am excited to hear all this.”Ryan said the office building will bring at least 600 new parking spaces to downtown and the hotel will include a below-ground music venue.“It can be something that represents Austin, in a unique way, can demonstrate Austin’s history,” Ryan said.Meanwhile, the 600 block is planned to be the site of a new office building meant to channel&nbsp;<a href="https://www.bizjournals.com/austin/news/2022/06/30/live-music-to-continue-to-define-sixth-street.html">Radio City Music Hall</a>&nbsp;in New York City.“We want it to be where people forget that it is an office building,” Ryan said. A rooftop venue is planned for the 700 block of the strip.Stream also plans to remove access to street parking and extend sidewalks to a total of 25 feet to allow for outdoor cafes and installations. The sidewalks are currently 12 feet wide. Outdoor exhibitions will be organized by a dedicated curator, Ryan said.“Music and arts are what drive this district as something that we can all be proud of,” Ryan said.Stream's plans coincide with efforts at City Hall to protect Austin's reputation as the Live Music Capital of the World.July 28 City Council&nbsp;<a href="https://www.bizjournals.com/austin/news/2022/08/05/austin-music-veneus-definition-city-hall.html">approved an ordinance</a>&nbsp;that starts the process of defining a "live music venue" in city code, paving the way for music venues to tap into city programs and revenue previously out of reach.The move also coincides with newly established&nbsp;<a href="https://www.bizjournals.com/austin/news/2021/12/01/austin-edc-begins-cultural-trust-work.html">Iconic Venue Fund and Cultural Trust</a>, which in July identified&nbsp;<a href="https://www.bizjournals.com/austin/news/2022/07/25/cultural-trust-to-protect-austins-music-venues.html">14 live music venues and creative spaces</a>&nbsp;that are eligible to receive millions of dollars in funding.On Sixth Street, Stream is working to uncover and highlight the district’s value to the general public with the assistance of Preservation Austin, a nonprofit organization dedicated to archiving and safeguarding the city’s history.“There is a great way, through artwork, to honor those folks and really represent them,” Ryan said.

Stream plans to make East Sixth Street a ‘safe haven’ for art and music

<h2 style="text-align: start">Clear kitchen pipes with hot water.</h2>&nbsp;&nbsp;&nbsp;&nbsp;Kitchen pipes often get clogged when liquid fats from dirty pots and pans go down the drain, then harden inside the plumbing, reveals home insurance expert Melanie Musson. To clear pipes easily, pour hot-not boiling-water down your kitchen sink. “The hot water melts the fat and grease, helping dislodge and move the gunk down the pipe before it can build up and cause plumbing headaches.” Aim to “flush” your pipes this way about once a week, and you may never have a kitchen sink backup again!<h2 style="text-align: start">Boost water pressure with a vinegar ‘shower cap’.</h2>Shower slowed to a trickle? Your shower head is likely clogged with minerals, says home pro Gladys K. Connelly. “Just grab a zip-top bag, fill it with white vinegar and use rubber bands to tie it around the shower-head, then leave overnight.” The vinegar’s acetic acid will bust minerals to return your water pressure to normal.<h2 style="text-align: start">Freshen your disp?osal with ice cubes.</h2>If there’s a mystery odor wafting from your disposal, here’s some good news: A little stink doesn’t mean it’s broken. There’s likely just some leftover food in the mechanism, says plumber Marques Johnson. His advice: Drop a&nbsp;<a href="https://www.womansworld.com/posts/home/how-to-clean-garbage-disposal">handful of ice cubes</a>&nbsp;into the disposal and turn it on. As the ice gets crushed, it safely polishes the inside of the disposal, scouring away built-up debris.<h2 style="text-align: start">Unclog toilets fast with a little dish soap.</h2>Next time your toilet is clogged with toilet paper, simply grab&nbsp;dishwashing liquid, says bathroom maintenance expert Aleksandar Pecev. Squirt 1?2 cup of dish soap into the toilet bowl, then slowly add a bucket of hot water and let sit for 10 to 20 minutes. “This helps the detergent lubricate the pipes, making the blockage easier to dislodge.” Once the water level in the toilet has subsided, pour in more hot water and flush.<h2 style="text-align: start">Banish backups with baking soda.</h2>To lift the most stubborn clogs, add 1?2 cup baking soda to a bowl of warm water and pour down the drain. Let sit 5 minutes, then follow with 1 cup of white vinegar. “It’ll fizz like a science project volcano,” says Connelly. Wait 10 minutes, then run the water to flush the gunk down the pipe.Pesky plumbing problems solved!<h2 style="text-align: start">?</h2>

Here’s How to Fix the 5 Most Common Plumbing Problems Yourself

<div style="text-align: start">By&nbsp;<a href="https://www.bizjournals.com/austin/bio/42928/Cody+Baird" rel="author">Cody Baird</a>&nbsp;&nbsp;–&nbsp;&nbsp;Staff Writer, Austin Business Journal</div><div style="text-align: start">Aug 17, 2022</div><div style="text-align: start"> </div><div style="text-align: start">?Signs of a welcomed correction abound; Don't call it a buyer's market yet.</div><div style="text-align: start"> </div>Homebuyers continue to gain negotiating power in the Austin area, a welcome change of pace in a market that has been defined for much of the past two years by blistering conditions.The latest numbers from the Austin Board of Realtors convey good — or at least better — news for this home-starved market and people struggling to find a home. They also signal a comforting trend that would help Austin avoid a housing crash after years of phenomenal appreciation.Housing inventory increased in July for the second straight month, to 2.7 months for the region and 2.4 months for Austin city limits, according to ABOR. Instead of a summer outlier, this now seems to point to a trend of decreasing demand, especially in light of rising mortgage rates, combined with homebuilders rallying to bring new homes to the landscape.It's important to note those inventory levels are still far below what's considered a balanced market. Many experts consider&nbsp;<a href="https://www.bizjournals.com/austin/news/2022/07/07/austin-housing-bubble-fears-explained.html" target="_blank" rel="noopener">six months of inventory necessary</a>&nbsp;to showcase an equilibrium between supply and demand.But rising inventory and slowing appreciation show the market is normalizing, said&nbsp;<a href="https://www.bizjournals.com/austin/search/results?q=Cord%20Shiflet">Cord Shiflet</a>, 2022 ABOR president and a top-selling agent with Moreland Properties."On top of rising housing inventory, home price growth is much closer to the 4-5% annual growth that is typical for a healthy market," Shiflet stated. "In addition, homes sold slightly below list price for the first time since December 2020, proving that buyers are gaining negotiating power in the market."Sellers need to reset expectations as this is not the same frenzied market of a few months ago, said&nbsp;<a href="https://www.bizjournals.com/austin/search/results?q=Ryan%20Leahy">Ryan Leahy</a>, regional president for mortgage company HomeTown Texas, formerly known as Leahy Lending."The Austin real estate market's inventory and mortgage interest rates have returned to pre-pandemic levels in recent months," Leahy said. "For the first time in a long time, buyers have more flexibility and leverage in the transaction."Lindsay Neuren, a Realtor at the Speed Neuren Group at Compass Realty, said that while we’re still not in a buyers market, the simple fact that there’s more time to buy a home is beneficial for shoppers.“We’re definitely not in a buyer’s market,” she said. “However, buyers have a lot more choices. They can take their time. They don’t have to go bid against 20 other people.”&nbsp;There are still bidding wars taking place for homes, but buyers have been able to translate homes staying on the market longer into an ability to negotiate offers down and avoid “crazy terms” that became more common during the Covid-19 pandemic.&nbsp;Buyers aren't negotiating $100,000 off a home's price, she said, it’s becoming more common to negotiate $20,000-$30,000 off.While buyers may have regained some leverage, one recent study found that Austin remains one of the friendliest places in the country for sellers.The study, conducted by California-based luxury home brokerage RubyHome, ranked the Austin-Round Rock metro the No. 8 easiest place to sell a home out of 93 metros. That was the highest ranking in Texas, with Dallas-Fort Worth not far behind at No. 11.That study looked at the difference between sale and listing prices, average number of days to close, average number of new monthly listings per 100,000 residents and average percentage of homes with a price cut each month.Austin ranked No. 33 in the first category, with homes selling for $56,990 less than the listed price on average; No. 4 in average number of days to close at 24; No. 67 in average number of new monthly listings per 100,000 residents; and No. 8 in average percentage of homes with a price cut each month at 5.5%.July's 2.7 months of inventory was the highest level in the Austin area since November 2018. In June, inventory hit 2.1 months.At the start of the year, inventory for the metro was just 0.4 months, and even less in some highly desirable locations.Even with the slower price growth and rising inventory levels, Shiflet warned policymakers to not back away from prioritizing housing efforts."Our position at the Austin Board of Realtors hasn't changed: there is a lot of work to be done to address both the present and future of housing in our region," he stated. "We need elected officials who will prioritize housing, and our community needs to work together to find solutions so that anyone that wants to buy a home in Austin can do so within their budget."In addition to the rising inventory, the 2,849 home sales in July represented a 28% drop from the same month in 2021 and a 20% fall from June 2022.The median sales price also continued to fall from the the record $550,000 it hit in April and May, hitting $515,000 in July. That was still an 8% increase from $480,000 in July 2021.As both sales closed and median sales prices decreased, so too did the total sales dollar volume. In June, $2.3 billion worth of homes were sold, while just $1.8 billion worth of homes were sold in July, and that’s down 21% from $2.4 billion in July 2021.Infographic: Check out this snapshot of July sales data from Austin Board of Realtors. <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20220818074110.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="399px,506px" data-align="none" data-index="0" data-file-name="image.png" data-file-size="1621748" data-origin="," style="width: 399px; height: 506px;"></figure></div>

Homebuyers regain some power in Austin as inventory continues to climb

Written by:&nbsp;<a href="https://www.bizjournals.com/austin/bio/42177/Justin+Sayers" rel="author">Justin Sayers</a>&nbsp;&nbsp;–&nbsp;&nbsp;Staff Writer, Austin Business Journal 265 jobs promised, but even more possible, exec saysWhen scouring the Austin metro for a new manufacturing site, GAF Energy LLC executive&nbsp;<a href="https://www.bizjournals.com/austin/search/results?q=Ralph%20Robinett">Ralph Robinett</a>&nbsp;joked that he and his colleagues looked at every industrial site between Austin-Bergstrom International Airport and Georgetown.The solar roofing company started the process last August. GAF Energy had in 2021&nbsp;<a href="https://www.bizjournals.com/sanjose/news/2021/05/11/gaf-energy-manufacturing-r-d-san-jose-south-korea.html" target="_blank" rel="noopener">moved its primary manufacturing operations to Silicon Valley from South Korea</a>&nbsp;but already needed a second site to handle booming demand.Leaders looked at 10-12 Central Texas sites in October before&nbsp;<a href="https://www.bizjournals.com/austin/news/2022/07/13/gaf-energy-tesla-rival-georgetown-texas-austin.html" target="_blank" rel="noopener">settling on one in Georgetown</a>, where they hope to begin operations in 2024."It's been quite an extensive search," said Robinett, senior vice president of manufacturing and employment for GAF Energy. "We looked at basically every building that was available and every site that was under development."GAF Energy on July 19 officially announced plans for the Georgetown factory, days after Austin Business Journal reported the company was eyeing a $100 million manufacturing, office and research and development facility at the southeast corner of I-35 and SE Inner Loop. The site is expected to employ at least 265 people.GAF was launched in 2019 as a subsidiary of global industrial company Standard Industries and has been billed as a competitor to Tesla Inc., which in addition to electric vehicles produces Solar Roof panels and Powerwall batteries.In Georgetown, GAF will produce its Timberline Solar roofing products. That includes nail-on roofing shingles that&nbsp;<a href="https://www.bizjournals.com/sanfrancisco/inno/stories/news/2022/01/05/gaf-energy-takes-top-ces-honors-for-solar-roof.html" target="_blank" rel="noopener">won a best of show award at this year's Consumer Electronics Show</a>.The new factory could boost GAF manufacturing capacity by 500%, allowing it to make 5 million solar shingles a year — enough to install solar roofs on about 50,000 homes annually. The company said that would make it the largest producer of solar roofing in the world."The response from both consumers and roofers to our Timberline Solar roof has been tremendous and we're thrilled to be expanding capacity to meet that growing demand. Georgetown has a long track record as a clean energy leader, so it is the perfect home for us to build the future of solar," GAF Energy President&nbsp;<a href="https://www.bizjournals.com/austin/search/results?q=Martin%20DeBono">Martin DeBono</a>&nbsp;said in a statement. "We launched Timberline Solar because we believed that more consumers would choose solar if they had a more reliable, durable, and attractive option. The market has confirmed our belief — now we’re turning that belief into reality and building the future of clean energy here in the U.S."

Behind the deal: 'Extensive search' ended with GAF Energy picking Georgetown for $100M factory

Everyone agrees that an air conditioner will usually fail when you need it the most, like on one of the hottest days of the year. One afternoon right after coming back home from work, I regrettably found that my air conditioning wasn’t colling anymore. Dripping sweat, I frantically called management to send an HVAC professional and scheduled a service visit. HVAC pro informed me that the capacitor on the outdoor unit (the essential piece that gives the motor a jolt of power) had blown due to a buildup of dust and debrie. What could have prevented this, he said, was so simple I almost cried. To prevent damage to the crucial parts of the outdoor unit, all you need to do is rinse it with a hose twice a year. How to Clean an Outdoor Air Conditioning Unit<div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20220724085222.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="316px,206px" data-align="none" data-file-name="hvaC1.jpg" data-file-size="108866" data-origin="," style="width: 316px; height: 206px;" data-index="0" origin-size="634,413"></figure></div> 1. Turn Off the Power to the Air Conditioning Unit You can safely turn off the power at a disconnect switch near the unit itself or at the circuit breaker in your home's breaker box. Look for a metal box mounted to a house wall near the A/C unit; there will be an electrical cable running from the box to the unit. The disconnect switch is inside the box. Depending on the type of switch you have, you may turn off the power by simply flipping it from on to off. If the switch has a pull-out head, pull out the plastic head from the socket and then flip it upside down and plug it back in (the word "off" will be visible when the head is properly in place). If there is no disconnect switch near the unit, find the air conditioner circuit breaker inside your breaker box and flip the breaker switch to the off position. This will be a big (double-pole) breaker with a long handle. 2. Open the Top of the Unit Remove the screws or bolts securing the top panel of the A/C unit. Lift the top and carefully set it aside. It may have fan wiring connecting it to the unit interior; if so, position the top assembly so as not to stress the wiring. 3. Clean the Unit Interior Remove leaves and other debris from inside the unit, being careful not to touch any wiring or other electrical components. You can also clean the area with a shop vac and hose extension. 4. Spray the Coil Screw a nozzle sprayer onto a garden hose and put it on a medium pressure setting; excessive water pressure can damage the thin metal fins of the coil — the radiatorlike structure surrounding the unit interior. Spray the fins with water from the inside out, working from the top down to remove dust and debris. If desired, you can apply a coil cleaning product before rinsing per the product instructions. <h4 style="margin-right:0in;margin-left: 0in">TIP</h4> The fins are made of very thin aluminum that bends easily, and they don't work as well when they're bent. You can straighten bent fins with a&nbsp;<a target="_blank" href="https://www.homedepot.com/p/AC-Safe-Air-Conditioner-Fin-Repair-Tool-AC-901/100664958" alt="fin comb">fin comb</a>, but if they're badly damaged, you should call a pro. 5. Clean the Outside Clean the outside of the unit with a light spray of water. Reposition the unit's top panel and secure it with its screws or bolts. Let the unit air dry. 6. Restore Power to the A/C Unit Restore power to the unit by turning on the disconnect switch or flipping the pull-out head and reinserting it in the on position as applicable. Be sure to close and secure the door of the switch box. If you used the circuit breaker to cut power, flip the breaker back to the on position and close the breaker box door.

This Simple Tip Would Have Prevented My A/C From Going Out

Austin is no exception to the long-standing trend of tech professionals earning incomes that are double or even treble those of other workers in the area. Austin's IT workers make an average of $150,026 a year, compared to all other industries' average of $78,224. It is consistent with a national trend where tech earnings are more than 65% higher on average than those of other professions. A recent analysis from the Austin Chamber of Commerce on the Central Texas economy shows the difference of around $72,000. The survey also reveals that, overall, average yearly earnings have increased by 8.5 percent since 2020, lagging only slightly behind the salary growth of over 10 percent seen by IT jobs during the same period. Jobs in IT manufacturing are exceptionally well paid. According to the chamber, earnings in this industry are often higher, averaging $159,593. With over 80,000 high-tech information and other IT jobs making up a sizeable portion of the local labor force, Austin enjoys a sparkling reputation as a tech powerhouse in addition to its rising salaries. In Austin, 16.7% of occupations are in the technology sector, compared to 9.2% nationwide. As Austin rides that wave, the city and other organizations have worked to attract workers to manufacturing employment and other booming sectors of the tech sector in Central Texas. In June, Workforce Solutions, Mayor Steve Adler, and others unveiled a "hire local" initiative and stressed the significance of hiring Austin residents to fill positions with businesses expanding or moving here. However, despite these initiatives to help locals find employment in the expanding tech industry, this salary gap occurs at a time when issues with affordability are making some longstanding residents feel forced out. Additionally, a shift out from the city's center has an ironic effect for a tech hub: a digital divide. Residents believe that the rise in living expenses is a threat to digital equity, according to a recent report by the research firm MEASURE. That's because getting to publicly accessible internet sources takes more time and money as people are forced farther away by housing costs.

Austin tech salaries are tens of thousands of dollars higher than the average for other workers

Homes and equities are currently going through a downturn phase. These days, it's unlikely that a stock you buy would generally reflect the market as a whole. The housing market is another area where regional variations are likely to be significant. REspace Austin’s agents have been closely monitoring the study by Home.LLC for Axios, which examines market dynamics in 100 metro regions throughout the US to determine which markets are most at danger, or those most likely to experience significant price decreases over the following 12 months. Except for some places, such as Boise, Idaho;&nbsp;Austin, TX; and Phoenix, Az, which have less restrictions on new development and will see a significant number of new units hit the market, the national housing supply shortfall is genuine. Austin is also likely to see a significant drop-off in demand, just because homes have become so expensive there that they are no longer affordable to most locals looking to buy. According to Home.LLC, Provo, Utah; Lakeland and Cape Coral, Florida; and Austin, TX, will be the riskiest areas over the next 12 months. We expect rental demand and prices to continue to climb as when less people buy, more people rent, so reserving your home early is paramount.

The cities where house prices are most likely to fall

<h2 style="text-align: start">Investment in Land around booming Central Texas and Austin area has a huge potential in these uncertain times. See The Motley Fool article below.&nbsp;</h2><h2 style="text-align: start">Consider taking your real estate investments outside</h2>The idea of real estate investing tends to evoke images of buildings of one form or another, from residential homes to stores, warehouses, restaurants, and more. But renting or leasing out building space isn't the only way to go. Vacant land can be an excellent real estate investment all on its own. Let's explore a few reasons you might want to consider investing in vacant land.<h2 style="text-align: start">1. Land tends to appreciate</h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20220703085023.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="320px,149px" data-align="none" data-index="0" data-file-name="image.png" data-file-size="677589" data-origin="," style="width: 320px; height: 149px;"></figure></div>Inflation is a hot topic right now, and that's impacting the way people look at investing. Land can be an excellent hedge against inflation because regardless of what's going on with the economy, it's always in limited supply. As the saying goes, they aren't making any more.That means you can simply buy and hold land, and it will be very unlikely to lose value but will most likely increase in value over time. You could also be more proactive in increasing its value by improving the land in some way, such as planting it in pines.<h2 style="text-align: start">2. Farmland profitability is increasing</h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20220703085233.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="312px,146px" data-align="none" data-index="1" data-file-name="image.png" data-file-size="308876" data-origin="," style="width: 312px; height: 146px;"></figure></div>You'll need to have any land you're interested in evaluated prior to purchasing it so that you can be sure it will be appropriate for your needs in terms of both characteristics of the land and determining what uses zoning will allow for.If it would make good farmland, that's great news. From 2020 to 2021, the value of pastureland, farmland, and cropland increased by around 7%. That's a massive increase for a one-year period. Viable farmland could then be sold at a profit or leased out for long-term income.That means you can simply buy and hold land, and it will be very unlikely to lose value but will most likely increase in value over time. You could also be more proactive in increasing its value by improving the land in some way, such as entitlements etc.&nbsp; <h2 style="text-align: start">3. There's a serious housing shortage</h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20220703085437.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="311px,145px" data-align="none" data-index="2" data-file-name="image.png" data-file-size="505588" data-origin="," style="width: 311px; height: 145px;"></figure></div>The housing shortage means more homes will be needed. Of course, those homes will also need somewhere to be built. Enter vacant land. The possibilities for the right plot of land include subdividing the land and selling it to future homeowners for their site-built homes and creating a mobile home park. For the latter option, you would rent out lots to owners of mobile homes, who would be responsible for the upkeep of their homes and yards.<h2 style="text-align: start">4. Suburbia is expanding</h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20220703085536.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="315px,145px" data-align="none" data-index="3" data-file-name="image.png" data-file-size="832351" data-origin="," style="width: 315px; height: 145px;"></figure></div>Many people were working from home before the pandemic, but the work-from-home revolution is now in full force. As a result of so many people being allowed to work from wherever they choose, more people are heading for the suburbs. So, high-and-dry land just at the edges of suburbia may be well worth a look right now. As the suburbs expand at a faster rate, that land is likely to become much more desirable and valuable.<h2 style="text-align: start">5. You don't have to buy a huge plot of land</h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20220703085634.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="321px,148px" data-align="none" data-index="4" data-file-name="image.png" data-file-size="588336" data-origin="," style="width: 321px; height: 148px;"></figure></div>You might think you would need hundreds of thousands of dollars to spend on a large piece of land to make the investment worthwhile, but that may not be the case. If you buy a small plot of undeveloped high-and-dry land in a desirable location, you can buy and hold it to sell to someone who may want to build their dream home there. Or you can develop the land by clearing an area for a home, taking care of any other needed improvements, and then selling it right away at a profit.<h2 style="text-align: start">6. You don't have to do anything to the land</h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20220703085722.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="319px,150px" data-align="none" data-index="5" data-file-name="image.png" data-file-size="445685" data-origin="," style="width: 319px; height: 150px;"></figure></div>If your real estate investment includes one or more buildings, you'll be responsible for staying on top of any needed maintenance and repairs for however long you own the property. This can, of course, get quite costly. But vacant land is generally pretty low maintenance.You can make some improvements to the land, as discussed in the previous slide, or not. But you won't have to budget for or deal with the ongoing maintenance and repair issues you will with buildings.

6 Reasons to Invest in Vacant Land

For the first time since 2008, we are headed towards a real estate crash. But here are 3 reasons why this time it wont be anything like 2008 according to article.The News: The crash we face this time wont be anything like the 2008 crash <ul><li>Lenders aren't so flexible with their lending prices, which means fewer borrowers likely to land in hot water. </li><li>Homeowners are doing fine, with mortgage forbearance programs allowing struggling borrowers to pause payments until they're back on their feet.</li><li>There's still plenty of supply, there's a huge demand with a shortage of supply.&nbsp;</li></ul>What does this mean for renters near UT Austin for August Prelease? Buy your house now, or as soon as possible can help to cushion the crash of the real estate crash, regardless of how bad it is. Ask our REspace agents to help you find a property soon.

https://moneywise.com/investing/real-estate/should-i-wait-for-real-estate-prices-to-crash-before-i-buy-a-house-here-are-3-simple-reasons-why-this-housing-downturn-is-nothing-like-2008

Should I wait for real estate prices to crash before I buy a house? Here are 3 simple reasons why this housing downturn is nothing like 2008

For the first time in U.S. history, the median rent cost nationwide surpassed $2,000 per month in May, according to a report.The news:&nbsp;rent is climbing fastest in Sun Belt cities. <ul><li>In Austin, Seattle and Cincinnati, rent has grown by over 30% in the last year, per&nbsp;<a href="https://www.npr.org/2022/06/09/1103919413/rents-across-u-s-rise-above-2-000-a-month-for-the-first-time-ever" target="_blank">NPR</a>. In Austin, Texas, asking rent surged by 48%, the largest increase in a metro area that&nbsp;<a href="https://www.redfin.com/news/redfin-rental-report-may-2022/" target="_blank">Redfin</a>&nbsp;has on record.</li><li>Even in cities that were formerly known as “affordable,” average rent prices are over $2,000. For example, Nashville’s median rent cost is at $2,140, which is 32% more expensive than last year,&nbsp;<a href="https://www.npr.org/2022/06/09/1103919413/rents-across-u-s-rise-above-2-000-a-month-for-the-first-time-ever" target="_blank">NPR</a>&nbsp;stated. </li></ul>Why is rent so expensive?&nbsp;Daryl Fairweather, chief economist for Redfin, told&nbsp;<a href="https://www.npr.org/2022/06/09/1103919413/rents-across-u-s-rise-above-2-000-a-month-for-the-first-time-ever" target="_blank">NPR</a>&nbsp;demand is what is driving rent costs. <ul><li>After the last housing crash, Fairweather says that not enough homes were built for a decade. “That lack of supply is the biggest force pushing up home prices,” and making it harder for people to afford to buy and rent homes and apartments, according to&nbsp;<a href="https://www.npr.org/2022/06/09/1103919413/rents-across-u-s-rise-above-2-000-a-month-for-the-first-time-ever" target="_blank">NPR</a>.</li><li><a href="https://www.cnn.com/2022/03/23/success/us-national-rent-february/index.html" target="_blank">CNN</a>&nbsp;states that demand, mostly from young renters, is another factor driving rent prices. Rising home prices are influencing more young people to rent houses and apartments.</li></ul>What does this mean for renters near UT Austin for Aug pre-lease? Reserving your house, duplex or apartment as soon as possible is paramount. Due to the slowdown of the sales transactions due to the fast climbing interest rates, even more people are looking to rent now. Ask our Respace agents to help you find a property soon.&nbsp;

National rent is over $2,000 per month for the first time in U.S. history

AUSTIN (KXAN/CNBC) &mdash; Tesla CEO Elon Musk may be moving to Texas,&nbsp;<a href="https://www.cnbc.com/2020/12/02/tesla-ceo-elon-musk-plans-to-move-to-texas-friends-and-associates-say.html" target="_blank" rel="noreferrer noopener">according to a report from CNBC</a>.
This comes after Musk, who was&nbsp;<a href="https://www.kxan.com/news/100b-year-propels-elon-musk-past-bill-gates-to-become-the-worlds-2nd-wealthiest-person/?ipid=related-recirc" target="_blank" rel="noreferrer noopener">just named the the second-wealthiest person in the world</a> by the Bloomberg Billionaire Index, has announced increasing developments in the state and in Travis County.
Construction at the Tesla site near State Highway 130 and Harold Green Road in Travis County. (KXAN Photo/Frank Martinez)
In the summer, Tesla&nbsp;<a href="https://www.kxan.com/news/business/tesla-is-coming-to-austin-area-car-company-picks-texas-site-for-second-us-vehicle-assembly-plant/?ipid=related-recirc" target="_blank" rel="noreferrer noopener">chose the Austin area</a>&nbsp;as the site for its largest auto assembly plant, which could potentially employ at least 5,000 workers. The plant will sit on a 2,100-acre area near Harold Green Road and State Highway 130.
SpaceX also has a launchpad in south Texas. SpaceX has been operating in Texas since 2003.
&ldquo;Now, several of his close friends and associates say that Musk has told them he&rsquo;s planning to move to the Lone Star State,&rdquo; CNBC reported Dec. 4.
Musk has been critical of pandemic closures in California,&nbsp;<a href="https://twitter.com/elonmusk/status/1259159878427267072" target="_blank" rel="noreferrer noopener">threatening to move</a>&nbsp;Tesla&rsquo;s headquarters to Texas and Nevada in May. He also placed his California properties on the market earlier this year, CNBC said.
Income tax could also play a factor. California has the highest income tax in the U.S., and Texas has no state income tax, which could save Musk billions, CNBC reported.
<a href="https://www.kxan.com/news/local/austin/elon-musks-friends-say-he-has-plans-to-move-to-texas/?fbclid=IwAR0rOdZLkWCIRD-75L-H5tskW0EIx3pQGE6Csg7XLGw7NjZ7I8hmb2f_LeE">https://www.kxan.com/news/local/austin/elon-musks-friends-say-he-has-plans-to-move-to-texas/?fbclid=IwAR0rOdZLkWCIRD-75L-H5tskW0EIx3pQGE6Csg7XLGw7NjZ7I8hmb2f_LeE</a>

Elon Musk’s friends say he has plans to move to Texas

<h2 class="gnt_ar_shl" style="font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 18px; line-height: 23px; font-family: 'Georgia Pro', Georgia, 'Droid Serif', serif; color: #303030; margin: 10px 0px 2px;">Billionaire and technology executive Elon Musk confirmed to the Wall Street Journal, that he has moved to Texas, but did not say where in the state he now calls home.</h2>
Elon Musk says he is now a resident of the Lone Star State.&nbsp;
"Yes,&nbsp;I have moved to Texas," Musk, the billionaire CEO of electric automaker Tesla and aerospace company SpaceX, said Tuesday during a video interview at the Wall Street Journal CEO Council Summit.
Musk did not say where in Texas he has moved.&nbsp;
Musk -- currently the world's second-wealthiest person behind Amazon founder Jeff Bezos -- said a&nbsp;move to Texas has been in the works for months. He said he already spent significant time in Texas, as Tesla and SpaceX both have significant operations in the state.&nbsp;
Tesla is currently building a $1.1 billion assembly facility near Austin, and SpaceX has a launch facility in South Texas. In fact,&nbsp;Musk said he was speaking from the SpaceX facility in Boca Chica on Tuesday.
"The two biggest things that I've got going on right now are the starship development here in South Texas, which was set in motion five years ago, and then&nbsp;the big new factory development for Tesla, which is called GigaTexas, just by Austin.&nbsp;Those necessarily drive the&nbsp;use of my time here," Musk said.
Musk also recently relocated his private foundation to Austin.&nbsp;Bloomberg news service reported that the Musk Foundation, which was based in California, created an entity in Austin over the summer. The two entities then merged, according to a certificate filed with the Texas Secretary of State in October that Musk signed, and the resulting entity is now based in the Austin area.
Musk's Tuesday comments came after months of hints that he was considering a move&nbsp;to Texas. CNBC reported last week that some of Musk's friends and acquaintances said Musk had told them he planned the move.&nbsp;
Austin has increasingly become a hub for Musk's companies. In July, Musk announced that Tesla would build a&nbsp;$1.1 billion Austin area manufacturing facility, where the company will&nbsp;produce its Cybertruck, Semi, Model 3 compact sedan and Model Y vehicles. It's also possible the factory, which could employ as many as 5,000 people,&nbsp;will produce battery cells, according to documents filed with the state.
Construction of the factory&nbsp;in southeastern Travis County&nbsp;is moving fast, with plans to start rolling out vehicles as early as next year.&nbsp;&nbsp;The company received tax breaks approved by Travis County and the Del Valle Independent School District that are valued at a minimum of about $60 million combined as part of an incentive deal to build the factory in the area.
The Boring Company -- Musk's tunneling and infrastructure transportation firm --&nbsp;also has an Austin presence. The company, in a cryptic November tweet, posted job openings for Austin in both engineering and operations.&nbsp;
A move to Texas could potentially save Musk millions of dollars in income tax.&nbsp; Texas has no state income tax, while California has the highest tax in the nation.&nbsp;
Musk has been critical of California in recent months, amid disagreements with lawmakers during the pandemic.
In his interview with the Journal, Musk compared California&nbsp;to a championship sports team that has won for too&nbsp;long. He also said Silicon Valley is declining in relevance.
"If a team is winning for too long, they tend to get complacent,&rdquo; Musk said. &ldquo;California has been winning for a long time, and I think they&rsquo;re taking it for granted.&rdquo;
In May, amid a public spat with California lawmakers, Musk tweeted that he would move Tesla headquarters and future operations&nbsp;to Texas and Nevada, after&nbsp;his Fremont, Calif.,&nbsp;factory remained shut down due to&nbsp;the state's COVID-19 restrictions. No change of headquarters for the Palo Alto, California-based&nbsp;company has followed so far.
The move to Texas also follows a tweet in May in which he said he was selling his properties and would own no home or "physical possessions." He proceeded to list several of his California properties for sale.&nbsp;&nbsp;
&nbsp;
<a href="https://www.statesman.com/story/business/2020/12/08/elon-musk-confirms-he-has-moved-texas/6495684002/?fbclid=IwAR17eNuatV-BYeUx-FHlw1m82E7OXp8ilEIdMRwQ16ptujZnpBL_4Fv3V6c">https://www.statesman.com/story/business/2020/12/08/elon-musk-confirms-he-has-moved-texas/6495684002/?fbclid=IwAR17eNuatV-BYeUx-FHlw1m82E7OXp8ilEIdMRwQ16ptujZnpBL_4Fv3V6c</a>

Elon Musk confirms it: He has moved to Texas

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