Texas, UM, Austin discussed on KLBJ Programming
Real estate's own our weekly radio show about Central Texas real estate. My name's John McClelland, as always joined by my friend Kevin bound, That's bound light town real estate broker. Howdy and Sean Bukowski is in the House real estate attorney. We got to try a little giant mortgage banker, real estate broker and real estate attorney here did answer your questions about Central Texas Real state and there are a lot Of questions to be asked. We're not sure what the answers are, but we're going to talk about it today. If you'd like to be part of the show, 51283605 90 that's 512836. 05 90 questions. Comments would love to hear from me. Don't forget if you like to listen to the show in its entirety, Go check our podcast out online, the best place to find him easy. Their own iTunes are Google podcast downloaded to any of your devices that do it. Listen to why you're hanging out or working out that's on Google or I time iTunes just type in the real estate zone. It is the end of January Gentleman last week in January, it's Ah, We're getting to 2021 lot going on with real estate. We're gonna be Talking about some. The stats that we typically kind of leave is part of the show. You know, small segment. It's gonna be a major topic today. We're gonna talk about that, and we're going to tell you why it's going to be a major topic. And if you haven't heard you need to keep listening in today, because there is a lot going on here is central Texas, real state And on the flip side of that, Shawn, you're here. Property tax values. The estimates are coming out in March, right sometime around mid March is so they started coming out going to be real interesting. I've saw a report from a local title company that Put some stats together just the other day, showing some areas around town year over year This is in Austin often took out 787 dip codes up 2025% year over year appreciation going to be interesting to see how the city It's a little grabby hands. That's all rights to grab last year. If you recall I did not reappraise property Primary resident They haven't all your residential. Yeah, yes. Oh, they're just waiting to really slap you across the face of this year, right? So, speaking of that, by the way, General 31st deadline to pay, So don't forget to pay your property taxes this and if you bought a house last year, and you've moved into it as of January 1st this year, Make sure you file that homestead exams, right? Does that homestead exemption work after a couple years then they could only raise it. X amount. Yeah, it's like 1%. Yeah, yeah, so important, but after two years, right, So you want to get that clock started by the way getting started because if they don't have that homestead, they could Jack it up whatever they wanted to. So remember, there's a lot of scams out there that could pay to play. You know, they will get this homestead thing Phil for you Could've Travis Williams again. It's actually online. It's free to do very simple. Phone number 51283605 90 That's 512836. 05 90. Kevin, I want to go to you, Um You said something very interesting to me today over a text and you said, I'm misquoting. I'm sure are a paraphrase that we're living in historic times here in Austin, Texas, explained to me and Sean into our listeners. Why, in real estate? This is an historic event that we're witnessing and seeing right now. Yes. Oh, that's a big build up, right? There's a big build up we're witnessing. So I was sharing with you some some data about what things are going under contract for Um, and those will be closing in 2 to 4 weeks right, so that there's a There's a period time you go under contract. After all these minutes. We've been sharing some of these crazy stories about multiple offers and 96 offers on the house and brush your hair or something like that. Yeah, this this This really rash of tightness has kind of kicked in about two weeks ago to a two or three weeks ago on Glee reported on the radio show. You know, we share the stats so that that our listeners have that real time speedometer on what to expect that hot ratio. That's matched. What? What's been experience out there with these like you said 96 offers. I won one last week they had 39 offers. Those those prices air not revealed yet until the closing day happens. So there's a 30 Day delay or 40 Day. What so generally in that range, there's a delay before everybody becomes aware or the Realtors anyway. Become aware Um, that that $275,000 house is really a $350,000 house. And so that that big reveal is coming Not here yet, but we have data that shows what it may. The trend is for sure and what it may look like 45 35 days from now. Well, yes, starting Probably a week from now, I think really, by two weeks from now, you'll start to see some of the mainstream media picking up news on this. But you said, historic for for our listeners out there. That doesn't sound like a historic thing. Oh, well, Property values are going up. That's all fine and dandy here. What is the obviously the underlying causes supply and demand, But that's the historic Aso right and let's Yeah. Or Historic means looking back, and that's why it's okay. So the nature of my message to you is, I think we're living in what will be called a story times there. We could be in the midst of a reset. That's not 20% year over year, it could be a 20% shift in values in 60 days. Wow. So and residential real estate here in the Austin market you're saying because I'm married doesn't stop in some areas. Some of the numbers were saying we could have a 20% shift in value. Over a 60 Day period. It's isn't that crazy even to say out loud. It isn't because you're kind of hesitated when you're saying it, But I talk to you before we're on their right. And you were Pretty solid on and I've seen the data and it Z. Interesting to say the least. And once you share a couple of things that before you get into the overall stats number, talk about some of these big areas around town like Circle. See, Steiner. Great Hills. Millwood. Alan Dale, Right? You know, that probably represents what I mean. Steiner Ranch. Probably 8 9000 homes out there Circle. See 4800 homes. I got a great hills. Probably got enough. 4000. Maybe you know that surrounding area? Yes, I sent you Those examples. You have those number. I do. I do it on the market. Remember when we talk about price appreciation and anything you know, it's just Sean. Is it Z economics Wanna want if you don't have enough supply, But you get tons of demand prices. They're gonna go up and so We looked at these different neighborhoods and so circle see Steiner Ranch Great Hills, Alain Delon Millwood..