On the 78641 zip code I didn't even know it was getting like that... I am from lago vista (well after moving From Houston to lago w/ Parents), man... Back in the early 90s you weren't joking it was cheap. I also remember how small everything was... Especially roads - though roads are still a mess... Haha - traffic during rush hour now... forget it. My parents regret not buying up more, fortunately they did okay with some properties out there. - I have a house very near to the new apple campus... North Austin/RR - I basically lucked out and @ mid point between 183/35 and toll access ... I never imagined having a 2nd shot at property appreciation like this. My wife and I got lucky in 05 even... I mean not quite the same as the 90s example but the appreciation has been nice. There was a period where lago seriously was basically in a state of free property/land like playing monopoly or something... In comparison to now - I mean in the early 90s a 4 plex or duplex could be had for next to nothing out there, even with a lake view... The property appreciation is absolutely insane though as you mentioned. Anyway, I don't enjoy the taxes but I do like the investment... I Also don't really like seeing all the houses on the drive to lago on 1431 but I mean it makes sense so not hating or something.. I just remember there being nothing but empty hills with cedar trees (as I'm sure you do too) and 183 basically being nothing. Anyway, I definitely agree with you, I can see moving further out and either renting this house or selling it, because the taxes are no fun either, - I can't complain though when I'll be approaching 3-4x+ from original purchase price. Definitely not bad but not the same as 30k to 250-450k or something.
Even now the driving isn't as bad as it was pre-march... But yeah... They need to get some actual roads/loop etc. It's a joke, I mean I guess if more remote workers it's not a big deal... But then again, if they don't do something... Yeah... Like when I visit Houston - sure the traffic can suck but there's multiple routes... But in Austin - major shutdown of mopac or 35 and... Yeah - it's beyond the cluster f it normally is
Yeah I don't know if I'll sell either if I moved.. Even with the mess that traffic is... I mean mines getting right at 3,but I'm thinking 4x will be np soon... Some of these families moving in from Cali - pay cash. It's at the point now where renting it might be the better move due to appreciation that's going to continue. I'm fortunately right on the Austin line and while the tax hike has been bad I am not getting the increases you've seen from the votes - unfortunately though I'm almost certain we'll be annexed soon. This newer neighborhood is officially Austin and it's basically across the street.... It's silly though, like if I look at the houses that are in the Austin zip - their taxes have climbed like crazy whereas... Even though the house I'm in is listed as RR it's not in RR proper/city either... So.... Not looking forward to that being a possibility. Taxes have definitely gone up from the appreciation regardless though.. But like you mentioned if you sell now, how easy would it be to come back... Probably not likely unless you sell and put more down. I really think renting it - would be nice because with all these companies coming this could be a nice easy investment to pay down your next spot and any current mortgage. You're also absolutely right about the renters not seeing that (I mean do they seriously not understand... That if taxes go up so does the rent, we're not here to give them a free place to live and eat the tax, I think you're right though, haha), I mean the market is so hot right now - houses don't last long at all. Hell my previous next door neighbor sold their house before the open house happened. Like it seemed like less than a few days and the contract was pending.
The taxes in Austin are out of control. Supporters of these bonds always say that growing cities need to provide more services for the population growth. But the increase in population brings a bigger taxable base for tax revenue to be proportionate. I don't understand why they have to increase the taxes per person when more people are incoming...
What taxes are you taking about? I live in Austin rates are even lower than the were 16 year ago when I bought my house. Property taxes have gone up because of appreciation of real estate but thats with any growing city
Well, I don’t see that changing. Ironically Austin has a giant influx of people trying to escape states where heavy taxation is a byproduct of policies they have supported and so they move away from those states and then support the same policies all over again that caused them to move away in the first place, so I don’t see how the result doesn’t end up the same down the road. Maybe I am wrong...certainly wouldn’t be the first time!
Coming in on 290 like 10 years ago, right when they built the tollway, I would think, "why the hell are they building neighborhoods so far out?" And used to laugh, it was damn near elgin. I would assume all the space in between austin and those neighborhoods are filling quite nicely now. Edit: It was more like 15-20 years ago, now that I cycle my brain. Austin is sooo not cool anymore.
These ultrarich types are like locusts. They wrecked CA/NY and are now bringing those same disastrous policies/voting habits to Texas and Florida.
Although rates haven't increased much, raising property taxes is the underhanded way to increase the effective taxes. Look at it from a city spending per household view. For example, say in 2010, the city spent $4000 per household to provide necessary services and infrastructure. At a tax rate of 2.5%, that's a property valuation at $160,000. Now in 2020, that property with a modest 8%/year increased appraisal (not even the max 10% the city is allowed) is now worth $345,000. Tax rate stays the same at 2.5% but now you're paying $8600 in taxes. Has the city provided over double the services and infrastructure? Not in my opinion.
*** Sorry for this rant rockbox...not directed at you but I just started typing and couldn’t stop lol so I just spoilered it *** Spoiler And my services have gone down. We can’t get police out here for the minor crime that eventually turns into major crime sometimes. I’m going to ragdoll the next homeless jackass I see trying to act crazy and trash the area. I almost did it last Sunday over by plaza Saltillo and one homeless person was throwing their drink and yelling like a maniac out in front of the chipotle. I’ve laughed it off before when I’ve had a couple of them try to fk with me because they aren’t a threat to me. My gf isn’t comfortable walking around there anymore by herself. I read too much about the petty crime around the homeless camps down by Cesar Chavez on the nextdoor app and people can’t get the cops to do anything because the homeless just get released almost immediately after an arrest. I keep waiting for that one to burn down now that they are starting fires since it’s cooled off and they’ve created a tent city by the library. The homeless camp off riverside and Lamar by the putt putt golf course burned down the other day. These people are an environmental disaster. I hadn’t driven down Cesar Chavez to mopac in a bit but it’s a ******* disaster tent city in one what used to be a nice spot to walk in downtown Austin. Riverside is a tent city. The large grassy median by I-35 at the 2222 exit is a homeless bike chop shop. They had a mountain of bike frames out there the other day. What’s our city doing? Giving more of the property tax money away to “fix” this problem. I truly have no clue who the people are that think these solutions are working and my city council lady won’t listen at all. They are completely out of touch. Austin is successful in spite of these idiots. rant over
We’ve been in the same neighborhood for 25 and our place has gone up much more than that. Pretty crazy. Fortunately for us, I’ve been old enough the last several years to keep our property taxes from going up as quickly as so many others are experiencing. At least there’s a few benefits to being an old hippie. How I miss the Austin of the 1960’s and into the ‘70’s. We moved here from Houston in June of 1980 and I noticed things were changing at a faster pace. You notice those things a lot more when you’re living here instead of visiting several times a year. That continued through the ‘80’s up until the oil boom went bust. If you could afford to purchase real estate then, as some were able to, you could make a killing. Earlier, in the late ‘70’s and early ‘80’s, builders had moved into Austin to take advantage of the boom. A huge amount of housing ended up being built in what used to be the Hill Country surrounding the city (drove me crazy watching it happen), and a lot of the “old Austin” homes, vintage housing more centrally located, were remodeled and enlarged, some being lost entirely, replaced with very expensive housing, condos or even apartments. At least Austin’s zoning helped reduce some of that, but the city council granted far too waivers. Affordable housing in north central, south central, and central Austin largely disappeared. Rents went up. Many of the developments west of the city wouldn’t have been built, or else would have been much reduced in size except for one thing that happened over and over again. The city would pass environmental restrictions intended to protect the fragile ecology in it’s ETJ, the ground water that fed the springs feeding the creeks that used to be all over the place west and southwest of Austin, and some member of the Lege from Amarillo or somewhere similar who was getting campaign contributions from developers would get a bill pushed through written so that only Austin’s environmental regulations were gutted. Pissed off a lot of people here and it was fought, but not a lot could be done. People moving here now know little or nothing about that aspect of Austin’s history. That being a ship that sailed long ago. It’s a real bummer.
Austin is Little Cali, kook. Like, get used to it, it's, like, everywhere, off The i35, The 183 and the totally stoked The 290. Locals only, brah.
I graduated UT in 2010 and left Austin. I've come back a few times and yeah, it's definitely changed quite a bit. I wish I had money back then to buy a house in the Cesar Chavez area. My mom use to float the idea, but we were never smart enough to make the investment.
