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Cool down: 5 houses on the market that have rapidly dropped thousands in price

(Realty Austin)

Gone are the days of paying $100,000 over asking price for a fixer-upper—your dollar now goes a little further in Austin’s real estate market.

Housing prices are dropping across the country, inventory is up, sales are down and the transition into a buyer’s market is beginning as realtors work to set expectations for sellers.

Boomtowns like Austin are seeing some of the most dramatic effects of the slump—while paying over asking price was normal last year, houses are more likely to sell below listing price at the moment.

(Moreland Properties)

This sprawling, two bedroom, three bathroom—including a private one bed, one bath guest apartment—dropped an eye-opening $251,000 on July 14 since it was originally listed for $3,250,000 on June 24. Built in 2001 in the Watersmark Barton Creek gated community, the home was updated this year and last sold for $1,500,000 on April 13, 2018.

This listing is held by Eric Moreland of Moreland Properties.

(Realty Austin)

This three-bedroom, two-and-a-half bathroom Hudson Bend home has views for days, is just over 10 years old and dropped $115,000, originally listed for $1,050,000 on Aug. 9, as of Wednesday. With three stories of open floor plans to spread out—translating to sky-high ceilings in the living room—and multiple decks overlooking the lush greenbelt that allow natural light to flood inside, this home has been on the market for nine days.

This listing is held by Realty Austin.

(Realty Austin)

Located in far South Austin on a corner lot, 1400 Huckleberry Lane first hit the market on May 19 for $566,000 and has since dropped in price five times, sitting at $502,000 as of Wednesday. With three bedrooms, two-and-a-half bathrooms and a large backyard, this house has plenty of space for a family and landscape potential outside. This house was last sold on Jan. 1, 2019 for $283,444.

This listing is provided by Realty Austin.

(Realty Austin)

This quaint little three-bedroom, two-bathroom home is shrouded in greenery and gives off a retro vibe with its stone focal point fireplace, plush carpeting, breakfast nook and sliding doors. Originally listed for $595,000 on May 12, this listing has dropped in price seven times and fallen a total of $104,000 as of Wednesday. It was last sold for $219,900 on Oct. 7, 2015, and leased for $1,595 starting in 2017.

This listing is provided by Realty Austin.

(Realty Austin)

If you’re looking for a Sunset Valley home, 7804 Clydesdale Dr. boasts three bedrooms and two-and-a-half bathrooms across 1,197 square feet, plus a $111,000 price decrease since May. Originally listed on May 9 for $545,000, the home has dropped price six times up to Aug. 11, outside of a month-long stint when it was listed for $551,000 before being pulled off the market.

This listing is provided by Realty Austin.


Airport braces for high traffic this month with ACL and F1 drawing in travelers

(AUS airport/Instagram)

With major entertainment events slated for October, the Austin-Bergstrom International Airport is gearing up for a busy month.

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

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.