what is the gross property tax rate in Austin?
Added later:
On checking, seems like @2.5%? Not too bad. Especially since there is no income tax.
Varies. That house is in Pflugerville 78660 2.9%
78759 2.25%
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So Californians are colonizing Texas making housing unaffordable for locals? Giddy up!
FIFY. Take note they are also making other parts of California to be unaffordable. In the long run, is good for the nation since wealth is spreading around.
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Look at the big leap forward for houses in Pflugerville. This house sold for 34% above Redfin estimate. Use to be able to get for 5-10% below Redfin estimate.
Any plan to sell your BlackHawke house?
I am tempted! I see price are jumping. I just have one so doesn’t really matter much, but what about you? Are you taking advantage of price jump? I am not worried about property tax assessment 
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I think is secular uptrend for RE because of millennials buying Primary… probably early majority phase 
so more good years. Just have to bite the bullets on property tax. My experience is rent increase lag property tax increase.
Historically price appreciation in Austin is about 4% yoy, then 7-8% and everybody think is a bubble, now is 20-30% 
extremely bubbly? I think it will eventually settle to 6-8% to reflect the change in structural fundamentals, no more those 4%.
Sell all your Austin RE and put every cent into TSLA. 6% CAGR is no good.
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Diversification 
Minimize shock to lifestyle (continue current lifestyle unabated) not maximize financial performance.
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Zillow Estimate are going nuts. It was 280K about a yr ago. @hanera are those real?
Did your property tax assessment change much? Mine is going up 14% 
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Mine2
Sudden interest in Pflugerville. Of all my Austin rentals, house prices in Pflugerville shot up the fastest and highest.
Below price chart is a house that I bot in 2017 for $285k, now worth ~$500k 
Recently previous tenant left, put on the market for 15% increase, rent out site unseen within 1 week.
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Below is a house on the market that has the same config as my Pflugerville rental, 4/3.5/1 3000+ sqft built-in…
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Below same config sold in Feb 2021, 3 months ago,
Latest from my realtor…
Austin real estate has been undervalued for years and we’re in the process of a price shift as more great jobs and people move to the area. It’s never been a secret that Austin’s a great place to live, but we’ve never seen migration to this extent. Run a quick news search for “new Austin jobs” and you’ll have reading for hours.
When I first bought a rental in Austin, historical annual appreciation is 2-4%, then annual appreciation increases to 4-6%, then 6-8%, 10-12%, now y/o/y is 40-60% Parabolic! Annualized appreciation of my rentals from day of purchase is 15-20%
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1900 Floresta Dr Cedar Park Texas
2 days from listing to pending. This is the speed, no decent listing takes more than 1 week.
I think he bot for $730k
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Prices in the five-county area have been rising for at least a decade — often sharply — amid strong demand due to the region’s population and job growth and a scarce supply of housing, local market experts say.
“…Austin, which had the nation’s highest price growth in April,” Redfin said.
“A big reason why Austin is experiencing such high home price growth is because it’s one of the country’s most popular migration destinations," said Daryl Fairweather, Redfin’s chief economist. "Nearly 40% of people searching for homes in Austin in April were from outside the metro area. A combination of low mortgage rates and remote work are motivating people in expensive coastal cities to seek out destinations like Austin that are more affordable, warm, and yet still have the urban amenities they’ve come to expect in their neighborhoods.”
My Austin friend is building in San Antonio. Kind is like the difference between SF and Sacramento. SanAntonio is still cheap. Low end median homes $144k.
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I heard San Antonio is growing faster than where I have rentals but my PM doesn’t cover there. No plans to expand there. If I want to expand, I will go to Henderson of Nevada, the research triangle and Florida. Not good to have too many properties in the same area. San Antonio is part of the Austin MSA.
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If you think 40-60% is parabolic, you ain’t see nothing yet.
The house is sold for $1.32M i.e. $345k (35%) over asking, 30% above Redfin estimate and yoy 81% price appreciation.
Austin is the hottest market in USA
Redfin reported that the median home sale price in Austin is now $465,000, up 42.3% from the same period one year ago.
One reason for Austin’s red hot housing market is that the city has become a popular destination for tech industry workers that can now work by remote. Many of those people are now able to relocate from areas such as Silicon Valley and San Francisco, and they choose Austin for its lifestyle, climate and affordability, and the fact that many tech firms have smaller campuses in the area.
Below are an old article and posts to tickle @manch… Since then prices shot up 80-100%. Follow the trend, follow the price action… sound familiar 
AMZN didn’t choose Austin. Inflection point is 2020. Try harder, @manch.
Austin Is Building a Mini Silicon Valley
Follow the price action
@hanera what is going on with the sale history of this property???
https://www.redfin.com/TX/Austin/15223-Cabrillo-Way-78738/home/109920929#property-history
Nice flip. The seller that sold for $925k doesn’t know the market.
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Is open door getting aggressive? It’s giving $520K offer to my house minus whatever fees and repair. Zestimate is $445k and it was less than 290k before Covid.
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