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What $10 million (or more) can get you in Austin real estate right now

A view of what kind of view $13 million can buy on Lake Travis

Let's face it—we're all tired of staring at the same four walls during this pandemic. Here are a few homes that have hit Austin's booming luxury real estate market, because we're in the mood for a little escape.


Toreador

This 7-bedroom home sits on 5 acres of land in Westlake and is listed for $10 million by Kumara Wilcoxon of Kuper Sotheby's International Realty.

Island Wood

This 7-bedroom Westlake home sits on 2 acres of land. It is listed for $10.95 million by Kathryn Scarborough of Engel & Völkers.

Wild Cat Hollow

This $10 million home is privately listed by Moreland Properties. It has 4 bedrooms, 6 bathrooms and a 2-car garage.

The Nautilus

This $12.5 million home sits on the banks of Lake Austin and is listed by Kumara Wilcoxon of Kuper Sotheby's International Realty.

Portofino Ridge

This 4-acre property is listed for $12.9 million by Gary and Michelle Dolch of Austin Luxury Group.

Comanche Trail

This 13-acre estate sits on Lake Travis and is listed for $12,999,000 by Gary and Michelle Dolch of Austin Luxury Group.

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With deposition and trial looming, Elon Musk has offered $44B for Twitter, again
Shutterstock

Elon Musk has proposed once again to buy Twitter for $54.20 a share.

The news that Musk is offering to carry on with the $44 billion buyout was first reported by Bloomberg. Now, a filing with the Securities and Exchange Commission shows Musk made the proposal in a letter to the tech giant on Monday.

The New York Stock Exchange temporarily halted trading in Twitter stock twice Tuesday, first because of a big price move and the second time for a news event, presumably the announcement of Musk's renewed offer.

While the per share offer price on this latest proposal remains the same as the original offer, it’s unclear if Musk has made other term changes or if Twitter would reject it. According to other reports, a deal could be reached this week.

The stock closed at $52.00/share Tuesday, indicating market uncertainty around the $54.20 offer.

After Musk informed Twitter of plans to terminate the original agreement in July, Twitter sued. A trial has been expected in Delaware Chancery Court on Oct. 17.

With the proposition of a buyout on the table again, it revives the question of whether Musk might move Twitter from San Francisco to Central Texas.

He’s done so with some of his other companies. Tesla’s headquarters in southeast Travis County had its grand opening earlier this year and tunneling business The Boring Company moved to Pflugerville. At least two other Musk companies, SpaceX and Neuralink, have a Central Texas presence without being headquartered here.

Technology journalist Nilay Patel this afternoon voiced concerns that owning Twitter and Tesla together could be problematic for Musk, as his Tesla manufacturing facilities in Germany and China are both in countries that have disputes with Twitter over content moderation and censorship.

Telsa shares fell after the Twitter news became public, before rallying to close up, at $249.44.

Austin rents nearly double in a year and are now in the top 5 nationwide
Dwellsy

While searching for a place to live, Austin renters will face monthly rates of nearly $3,000, a recent guide from rental marketplace Dwellsy shows.

The median rent in August this year was $2,930, a more than 86% increase since August 2021. That’s $820 more than the nationwide median asking rent in August and puts Austin just below the Bay Area, Boston and New York for large cities with the most expensive asking rent.

“Within this group, Austin, TX stands out for the highest increases in asking rent, which has nearly doubled since this time last year,” the study notes.

Outside of those large cities, however, others are seeing even higher rent spikes. Metro areas that ranked above Austin in one-year increases include those like Kansas City, MO with a 112% change in rent since last August and Tucson, AZ with a 124% change.

The data reflects large apartment communities, single-family homes and 2-6 unit buildings.