Hi y’all, welcome back to Selling Austin - your weekly local real estate recap.

Inside: What is the Fed up to? ⁉️ + Student Housing Getting an Upgrade 🤑

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. 🐦️ 

Rates are everyone’s mind. Let’s get into what’s coming up -

The most recent poll of economists by Reuters anticipates that interest rates will hold for at least a couple of months.

Inflation concerns still linger and data shows no significant “stress” in the labor market (how they decide stress level is beyond me). All this indicates the Fed is no hurry to cut interest rates.

103 of the 105 polled economists predicted the Fed rate remains unchanged. 55% of those predict that the Fed will cut again in September. 42% predict cuts sometime in Q4.

TLDR:

No rate cut coming up.

Read more here.

🤠 WHAT’S HAPPENING AROUND TOWN

Austin’s student housing scene is growing up.

A Dallas based firm has acquired a 243-bed housing complex in West Campus. Coming up are upgraded interiors and amenity spaces along with lounge and study rooms.

The firm purchased a 70-unit property for an undisclosed amount but the properties taxable value is $20.4M.

UT Austin ranks fourth in the nation for off-campus student housing supply, with nearly 24,000 beds. It is behind Texas A&M, Florida State and the University of Florida in off-campus inventory.

Student housing isn’t what it used to be - Union on 24th is the perfect example. It has “health and wellness offerings” on their roof which includes an infinity pool, sky garden and sweeping views of Austin and Hill Country. The amenity deck has outdoor kitchens with grills, flat screen TVs and furniture you would expect to see in a luxury high rise. It’s the new age of luxury student housing. A 319 sqft room will cost you around $2,000/mo.

There is a strong investor appetite for luxury student housing - large national players are circling the Austin market.

⁉️ 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

This very classic Texas exterior hides a very interesting and shall we say custom (?) interior. Being waterfront and on a golf course though…10/10.

Yours for: $9,895,000

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!