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A thread to discuss Central Texas real estate


bestbike85

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1 hour ago, mack_turtle said:

If I remember correctly, several properties on Lake Austin were taking advantage of an oooold exemption from Austin taxes because they were not getting some services from the city due to their location. that has changed, obviously, so they are having their cake and eating it too, while the rest of us schmucks are paying taxes for services they enjoy for free. it looks like they have good lawyers and  know how to grease some palms, because they're getting their way. https://patch.com/texas/downtownaustin/senate-oks-bill-allowing-lake-austin-owners-avoid-city-taxes

That bill and another bill to let Lost Creek de-annex were shot down in the Texas house on point of orders (e.g., constitutional issues).  Probably won't be the last thing they try to do but at least it's a severe uphill battle.

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Have you seen them? Downtown is a mess

Imagine you’re a female clerical worker or low level professional that can’t afford onsite downtown parking and has to walk thru that gauntlet to get to work. If you have to be in early or work late it’s in the dark.

I shuttled lots of the ladies I worked with when I worked down there and it was a hell of a lot less hazardous then. Easy vote for council persons that drive straight into the city hall underground garage. Let’s see one of them walk 20 blocks after a 3 am meeting ends by themselves. Sucks being afraid just trying to get to/from work.


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5 hours ago, Chongo Loco said:


Imagine you’re a female clerical worker or low level professional that can’t afford onsite downtown parking and has to walk thru that gauntlet to get to work. If you have to be in early or work late it’s in the dark.

I shuttled lots of the ladies I worked with when I worked down there and it was a hell of a lot less hazardous then. Easy vote for council persons that drive straight into the city hall underground garage. Let’s see one of them walk 20 blocks after a 3 am meeting ends by themselves. Sucks being afraid just trying to get to/from work.


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100%

Until coronageddon, my wife worked downtown at the moody building. She had private parking at the garage across the street but it was a fuckin bum gauntlet even back then. Can't even imagine now, especially around the 7/11 next door. Thankfully they're out of that building and she's working from home until we're out. This mess is what happens when the city leadership is feckless and self serving. A lot of this could have been prevented but all they care about is making themselves and their buddies richer. 

Was truly disappointed when we went downtown saturday. The pre pandemic austin is gone. Saw so many places closed and what was open was "private party" clubs so we had to head onto east 6th. Over there, they replaced homeless people with generic plastic people. 

People looking at moving to austin have picked up on these issues and are making other choices. 

 

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6 hours ago, mack_turtle said:

We all know that will never work. they just need to give the right person a handjob and they get all the benefits of living in Austin without paying for it.

I'm not sure what they have there, but I think it would be fair if they had to fund their own police and fire, manage their own wastewater, etc. if you want to be an island, don't half-ass it.

I think that because they are not paying for the police we could also erect a big sign at the entrance of the neighborhood that says "this neighborhood ACTUALLY defunds the police."

That would be fun. They would love that.

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5 minutes ago, AustinBike said:

I think that because they are not paying for the police we could also erect a big sign at the entrance of the neighborhood that says "this neighborhood ACTUALLY defunds the police."

That would be fun. They would love that.

*shrugs*

Sounds fair.

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24 minutes ago, AustinBike said:

I think that because they are not paying for the police we could also erect a big sign at the entrance of the neighborhood that says "this neighborhood ACTUALLY defunds the police."

That would be fun. They would love that.

Whose hand do we have to grease to get that big erection? 

(sorry, couldn't help it)

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  • 1 month later...

Here’s the latest on my end. 

Even renting a house is as painful as kneeling on broken glass. It’s like these realtors just have someone they know waiting for these houses. New place, gone within a few hours. Trying to get me into an alleged “bidding war” for a house with shitty carpet, a dilapidated fence and no refrigerator? GTFO

Anyways, rant over. 

After losing out on a few houses, I’m about $600 deep in simply applications right now, but we have finally got them right where we want them. 3 offers today. 1 just east of 35 in RR. 1 with a RR address that backs up to the eastern part of Brushy Creek Park (think almost Champions park). 1 far north Leander, almost Liberty Hill, but right off of 183 with quick access south. 

We’re weighing our options tonight, but feel really good about the one on Brushy. I get back to riding Brushy straight from home 4 days a week and wife has a 4 mile commute. 

Shout out to @throet for putting in a word with a realtor friend of his to help me out. Unfortunately the way we approached the problem we were not able to use her on the contract, but she gave me awesome insights that I used to score all of these houses. 

Should be back in about 2.5 weeks. Party at red horn. Beers on y’all, because it’s going to cost me about 2.5k just to get a uhaul. 

Edited by bestbike85
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35 minutes ago, bestbike85 said:

Shout out to @throet for putting in a word with a realtor friend of his to help me out. Unfortunately the way we approached the problem we were not able to use her on the contract, but she gave me awesome insights that I used to score all of these houses. 

Should be back in about 2.5 weeks. Party at red horn. Beers on y’all, because it’s going to cost me about 2.5k just to get a uhaul. 

Glad she was able to help and sorry to hear about how much trouble this has been for you. We're booked for riding in Salida Jul 9-11 - so if you get a chance to slide down there any of those days before heading back to Tejas, let me know. We haven't finalized our ride plans yet, but will likely do the Monarch Crest Epic on Jul 10. 

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  • 11 months later...
On 7/1/2021 at 6:54 AM, AustinBike said:

I heard (anecdotally) that the Austin market is starting to settle down. I guess we'll know in a couple months.

Can confirm. Currently managing through listing our house just as things tapered off.

With the exception of interest rates, things will be better for Austin buyers by the fall. Cash will be king.

 

 

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  • 4 weeks later...

Cash is indeed king. House is under contract with closing on 8/5. Project GTFO has commenced, and we will be heading north in the not too distant future.

Had to drop price $20k from when we listed but everything is going down in price, so it's a bit of a wash.  

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On 7/20/2022 at 9:52 AM, ATXZJ said:

Cash is indeed king. House is under contract with closing on 8/5. Project GTFO has commenced, and we will be heading north in the not too distant future.

Had to drop price $20k from when we listed but everything is going down in price, so it's a bit of a wash.  

Great man!

Yeah for the first time in years the redfin/zillow estimate dropped $45k on our house.  Finally some sanity.

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There is little good news for people buying in Austin. Values went up 30-70% in the past year, so a $20-40K drop probably puts it way over where it should be.

My assessment went up ~65%, I had a friend who had his assessment go up 75%. While tax increases are capped at 10% per year, this essentially says that I am guaranteed to get hit with 10% a year for the next 6 years or more. I am finding that suburban CA is actually about the same price as living here for me. Even with a state income tax and $6/gallon gas. It's crazy here.

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4 hours ago, AustinBike said:

There is little good news for people buying in Austin. Values went up 30-70% in the past year, so a $20-40K drop probably puts it way over where it should be.

My assessment went up ~65%, I had a friend who had his assessment go up 75%. While tax increases are capped at 10% per year, this essentially says that I am guaranteed to get hit with 10% a year for the next 6 years or more. I am finding that suburban CA is actually about the same price as living here for me. Even with a state income tax and $6/gallon gas. It's crazy here.

I've been capped for years.  The rate of increase is accelerating though...10% of 200k (ca. 2003)  is a lot different than 10% of $900k.  I'm at $580k this year.  I still can't believe I live in a 2100 sq ft $900k house.

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On 7/21/2022 at 1:32 PM, AustinBike said:

I am finding that suburban CA is actually about the same price as living here for me. Even with a state income tax and $6/gallon gas. It's crazy here.

I was tempted even before Newsom ran his TX newspaper ads abhorring Abott's dumbassery. 

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On 7/21/2022 at 1:32 PM, AustinBike said:

There is little good news for people buying in Austin. Values went up 30-70% in the past year, so a $20-40K drop probably puts it way over where it should be.

My assessment went up ~65%, I had a friend who had his assessment go up 75%. While tax increases are capped at 10% per year, this essentially says that I am guaranteed to get hit with 10% a year for the next 6 years or more. I am finding that suburban CA is actually about the same price as living here for me. Even with a state income tax and $6/gallon gas. It's crazy here.

The one thing CA does right (and some other states do this too) is it caps annual assessment value increases at 2% as long as you own the home.  That's why people who bought long ago in Manhattan Beach and other similar places where values went through the roof haven't been priced out.  It's essentially a fixed value for your home as long as you own it. 

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Yeah, think about this, I'm sitting on a $22,000 property tax bill for a relatively standard house in Central Austin. With a 10% cap, in 5 years that bill will be $32,000. Ouch.

Now, I can sell my house and buy something in CA where we are looking for the exact same amount as we could sell this house for. At the same price our property tax will be $15,000 per year. In 5 years, that bill will be $18,000.

Relying only on property tax will be Texas' downfall. It is very possible that as this system collapses they will be forced into a state income tax as well.

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