What’s New In July?

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Property Tax Bill Information

Assumable Rates and Assumable Loans

Austin Housing Market Continues To Normalize

Georgetown Is The Fastest-Growing Community In The Country

Upcoming Events

In The Words Of Our Clients

Jennifer Bailey
REALTOR® and Team Leader
(512) 506-0715
Jenn@BaileyResidentialGroup.com
www.BaileyResidentialGroup.com
3103 Bee Caves Rd, Ste 102
Austin, TX 78746

Contact Jennifer

On June 28th, the Texas Legislature convened for the second special legislative session on property tax cuts and passed Senate Bill 1. The Texas House and Senate also put forth separate property tax cut measures, House Bill 1.

Senate Bill 1 will:

Increase homestead exemptions to $100,000
Reduce school district taxes paid by Texas residents by 30%
Prevent businesses that make less than $2.7 million/year from paying the state franchise tax

House Bill 1 will:

Cut school district property tax rates by $0.162 per $100 valuation
Funnel $12.3 billion back into schools to prevent funding loss

Read more here.

Listing Courtesy of Link Realty LLC. Click the picture for more assumable mortgage loan listings.

While interest rates have spiked and the housing market in the greater Austin area has slowed, there are still opportunities to purchase a home at an historically low interest rate (think between 2.25-3.5%!).

How is this possible?
The answer is simple–by leveraging an Assumable Loan or Assumable Mortgage.

Visit our website here for more information!

The Austin real estate market has continued to normalize for the third month in a row, leading to more favorable conditions for both buyers and sellers.

The most recent report from ABoR shows an increase in active listings to 8,960 homes, nearly 1,000 more homes than in March 2023. Housing inventory has increased to 3.4 months, an increase from April, and homes are spending 65 days on the market, an increase of 49 days from May 2022.

Read more here.

Photo credit to article

The U.S. Census Bureau released new population estimates to show growth in U.S. cities. According to the estimates, Texas is home to 4 of the top fastest-growing cities, including Georgetown at #1.

Georgetown has been included on the list of fastest-growing cities since 2015, taking the top spot in 2015, 2021, and now 2022. Surpassing it’s rate from 2020 to 2021, Georgetown’s population increased 14.4% from 2021-2022, to a total population of 86,507. A large percentage of the population increase comes from job growth in the area and across the Austin metro. Many people are moving to the area due to their safe neighborhoods, fantastic parks, and welcoming environment.

Other Texas cities that made the top 10 include Kyle (#3), Leander (#4), and Little Elm (#5).

Read more here.

Blues on the Green
July 18 & 19

Hot Summer Nights
July 20-23

Sad Summer Festival
July 26

“My experience working with Jennifer was nothing short of first rate. She frequently went above and beyond to make sure my home presented itself as well as possible, displayed her expertise by setting an ideal asking price, and helped me navigate the entire process from listing to closing. Everything went smoothly, and my expectations were exceeded every step of the way. I would not hesitate to use her again or to recommend her to family or friends.”

– Mateo W.