Hi y’all, welcome!

Inside: Inside Torchy’s Tacos Mansion 🤤  + Google is Moving in ⛵️ 

Did someone forward this to you? If you want to get 5% smarter* each week, subscribe here!
(*unbiased opinion)

WHAT'S INSIDE

• 🔢 THE DATA

• 🤠 WHAT’S HAPPENING AROUND TOWN

• ⁉️ WHAT THIS MEANS FOR YOU

• 🤤 HOUSE WORTH DROOLING OVER

🔢 THE DATA

I’m an ex-dentist turned Realtor - let’s work together! Email me, tweet me or send me a carrier pigeon. 🐦️ 

It seems like there are new homes popping up everywhere you look in Austin.

With updated zoning laws and developer discounts - Texas is very builder friendly. A new bill was filed at the Texas Legislature to make it even easier for developers.

What is it?

The bill would allow 3rd party engineering firms to review permits and inspect new homes. Applicants could have either the City of Austin or a 3rd party review and approve their plans.

How does that change things?

The City of Austin charges $10,000+ for a subdivision request and can take up to 1 year to review the plans. A 3rd party estimate would be around $5,000 with a 6 week turnaround.

Seems like a slam dunk?

Kind of. In reality, opening reviews up to 3rd party firms can result in lack of approval consistency and no accountability in case of failure.

This would be a huge step for developers. Will these time and cost savings be passed down to buyers? Debatable.

🤠 WHAT’S HAPPENING AROUND TOWN

Google is finally moving in.

Austin’s iconic Sail Tower has been empty since 2022. By the end of 2025 Google will move into the building it agreed to lease in 2019.

Must be nice to have money to burn. Google has spent $53,000,000+ a year paying for this vacant lease.

Experts hope that return to office mandates will reverse the effects of a struggling commercial real estate market. As of March, Austin currently sits at 25.2% office vacancy.

Interestingly - Austin has one of the nations highest commercial vacancy rates and also one of the highest sqft currently under construction.

These two pieces of data aren’t great together. Who will occupy all these high-rise offices? 👀 

⁉️ WHAT THIS MEANS FOR YOU

If you’re a buyer/seller/investor/renter or just interested in real estate - this weekly newsletter will help guide your decision making and help you better understand the market.

🤤 HOUSE WORTH DROOLING OVER

Have you wondered what type of property a taco empire might buy you?

Look no further - Torchy’s Tacos founder has listed his waterfront mansion for sale.

Yours for $19,000,000. If you’re looking for more land - they’ll throw in another tract for a total $25,000,000.

Thank you for being here! Reply to this email if you have any questions or just to say hello! 👋 

P.S. If you think your friends would like this newsletter, I’d love for you to share it with them!