Survey: In one year, foreign buyers spent $800M on Austin-area homes – Business – Austin American-Statesman

International homebuyers spent $800 million on Austin-area residential properties between April 2019 and this March, according to a new report from the Austin Board of Realtors.

This inaugural Central Texas International Homebuyers Report was based on a survey of Central Texas realtors conducted with the National Association of Realtors.

The report comes as the five-county Central Texas region continues to see sales and median home-sales prices soar, often to record levels. Spanning Georgetown to San Marcos, the Austin area increasingly has become an attractive destination for businesses, workforce talent, university students, and people from across the world looking for new opportunities and a high quality of life.

“The Central Texas region has become a magnet for homebuyers and real estate investors from around the globe,” said Romeo Manzanilla, president of the Austin Board of Realtors.

The $800 million in sales volume from foreign buyers was 5% of all residential sales

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Test Drive column: All-new 2020 Land Rover Defender 110 – Business – Austin American-Statesman

Entry price $49,900
Price as tested: $72,780

It’s been 23 years since the last Land Rover Defender was available for sale in the U.S., specifically the 1997 Defender in full 4X4 off-road regalia. Noted for its top line off-road capabilities and unique looks, this Land Rover became a status symbol for the privileged and quickly evolved into cult-like status. Although removed from U.S. dealerships in 1998 due to more safety mandates and its poor government crash test results, those who loved their Defenders were ready and in waiting at Land Rover dealerships when this all-new 2020 Defender arrived.

Our tester Defender is a far cry from the past versions, which ran from 1993 to 1997 in a rugged, rough terrain design that attracted serious off-road consumers. Additionally, the older Defenders cared more about riding up the side of a steep mountain trail more so than a reasonable ride. Amenities that

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After 87,000 turkeys exploded in fire, Tyler’s Greenberg shuts down for holiday season – News – Austin American-Statesman

Greenberg Smoked Turkey Inc. in Tyler will halt all its smoked turkey production for the rest of 2020 after a fire and at least two explosions destroyed part of the facility on Friday.

The company sells about 200,000 smoked turkeys every holiday season. The Greenberg family has grown the 82-year-old smoked-bird business into a “holiday obsession,” The Dallas Morning News wrote in 1998. The famous East Texas turkey landed on Oprah Winfrey’s “Favorite Things” list in 2003.

Owner Sam Greenberg, the grandson of the founder by the same name, says a mechanical failure started a fire in a vacant shipping room on Nov. 6. A freezer holding 87,000 turkeys exploded and burned the boxes and bags nearby, which are used to ship hundreds of thousands of turkeys during the company’s busiest season.

As we shared previously, there has been a catastrophic fire at our shipping facility. Both our inventory and

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Developer buys property for South Austin apartment project – Business – Austin American-Statesman

Real estate investment firm Rastegar Property Co. said it has completed its acquisition of a South Austin property for a planned apartment project.

Austin-based Rastegar Property said it has purchased 5412 South Congress Ave., which sits on about an acre of land that currently is home to a used car lot.

The property is the third and final acquisition in the firm’s South Congress aggregation that includes 5402 S. Congress Ave. and 106 Red Bird Lane.

The three properties, which encompass about three acres of land, include the two hard corners of Mockingbird Lane and Red Bird Lane with South Congress as frontage.

Financial terms of the deal were not disclosed. The Travis County Appraisal District values the 5412 South Congress property at $980,000.

The tract is in a rapidly redeveloping part of South Congress Avenue near West Stassney Lane that has seen an influx of new apartment and condo

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18-story West Campus housing complex gets new owner – Business – Austin American-Statesman

The coronavirus pandemic apparently hasn’t dampened investor enthusiasm for student housing near the University of Texas.

The recently completed Moontower student housing complex, at 2204 San Antonio St. just west of UT’s campus, has been purchased by an investment group led by a California-based real estate firm.

The sale comes as construction of another student-housing project, called Waterloo, is underway nearby.

Financial terms of the Moontower sale to a group led by Ocean West Capital Partners haven’t been disclosed.

But the project’s developer, Austin-based Lincoln Ventures, previously estimated its cost of construction at $63.8 million in a filing with the Texas Department of Licensing and Regulation.

The 18-story Moontower opened in September and has the capacity to house 567 residents.

“The Moontower asset is truly one of the premier trophy assets in the country, and we strongly believe in this market and this university,” Ocean West principal Ryan Tucker said

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Dear Monty column: The hidden risk in buying a home today – Business – Austin American-Statesman

Columns share an author’s personal perspective.




Reader Question: We are considering buying a home. My husband and I both have good jobs, no debt and more than an adequate downpayment. We have spent several years saving, and now we feel ready financially. There are many distractions today; we wonder if this is the right time to buy a home?



Monty’s Answer: There is no doubt the world is facing some challenging times. Historically, many good things happened in very troubling times. For example, according to author Alan Millward, productivity during WWII increased by 300%. While the war effort was part of the growth, Millward also named new capital equipment, longer working hours and pooling industrial information to cause explosive growth.  



The distractions 

While it is true that there are many distractions today, the majority of us are working. Home buying is currently robust. Why wouldn’t it be when you

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