May  2023

Your Guide to the Central Texas
Real Estate Market 

Georgetown - The Fastest Growing City in the US

For the second year in a row, Georgetown ranks as the fastest-growing city in the country, according to the U.S. Census Bureau.
Three of the four fastest growing U.S. cities (with populations of at least 50,000 people) are located around Austin. 
1 – Georgetown, Texas             14.4%
2 – Santa Cruz, California         12.5%
3 – Kyle, Texas                             10.9%
4 – Leander, Texas                      10.9%
“Job growth in Georgetown and across the Austin metro continues to bring new residents to our city”, Georgetown Mayor Josh Schroeder said in a May 18th statement.
Texas was the fastest growing state in the country and surpassed the 30-million-person mark for the first time last year.  Additionally, this year Austin became the 10th most populous city in the country.

Texas House Passes New Property Tax Relief Bill

On May 19th the Texas House passed a new property tax relief bill. 
The bill will increase the homestead exemption from $40,000 to $100,000, adding another $10,000 deduction for seniors and the disabled. 
The bill also will lower the appraisal cap imposed on year-over-year appraisal growth from the current cap of 10% on homes with a homestead exemption to 5% for all property owners. 
Homeowners with a house appraised at $350,000, for example, are expected to save $1,325 in property taxes in 2024 and $1,518 in 2025, according to House Representative, Morgan Meyer.
Meyer also said it was “the largest property tax reduction in Texas history.”  The bill is projected to deliver more than $21 billion in property tax relief.

New Zoning Proposed for Austin

Members of the Austin Planning Commission hope to introduce a new zoning category that could help developers create more housing in a city that has been struggling to keep up with demand.
The proposed change, introduced by Commissioners Greg Anderson and Felicity Maxwell, calls for the introduction of town zoning, or TZ, which “provides city policy makers with added flexibility during zoning cases.”
Specifically, the new zoning category would allow both residential and pedestrian-oriented commercial development with base building heights of up to 60 feet and up to 95% impervious coverage.

Median Sales Price: 5 Counties Over 5 Years

Travis, Williamson, Bastrop, Hays and Caldwell counties experienced rising home values in March, April and May this year.  Those values are still well below 2022 median home values.  The graph above reflects the values of all single-family homes and condominiums in all of the ABOR MLS areas.

Get Your Home Ready for Summer

Spring into action and complete maintenance work this spring, so come summer, you can sit back, relax and enjoy a hot dog on the grill at your perfect barbecue. Use this checklist to give your home a smooth transition with the change in seasons.

Depending on the siding you have, power-washing can potentially do harm. In most cases, a garden
hose and a cleaning wand attachment is all you need. Remember to tarp your plants and shrubs!

After cleaning a wooden deck, remember to treat the wood, stain and seal it once everything is dry. Most patio furniture can be freshened up with an all-purpose cleaner. On furniture cushions, you can use soap, water and a soft bristle brush.

Open all the windows and run the air conditioning on low to rid your home of any winter mustiness.

Lay down mulch to protect your plants from a drought, boost their growth and give a finished look to your yard.

Swap out your dark linens for a lighter look. Make the inside of your home look and feel like it’s ready for summer!

Notice any chipping or peeling exterior paint? Consider a touch-up. If you hire a professional,
you’ll want the work done in the spring so it’s ready by mid-summer.