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Showing posts from August 6, 2023

Per; How will the new law reducing property taxes in Texas effect your portfolio?

There is also a "circuit breaker" provision for non-homesteaded properties, both residential and commercial, such as rental houses, second homes, vacation properties, or commercial retail or business properties. This provision basically puts a 20% cap on appraisal increases for properties valued at $5 million or less. Largest Property Tax Cut In Texas History: How it Benefits You click here for the direct link to the article Texas Gov. Greg Abbott ceremonially signed the $18 billion property tax relief bill into law on Wednesday. The bill, which is the largest property tax cut in Texas history, will bring massive relief to Texans. Gov. Abbott originally signed the Texas property tax cut bill in late July. What Is The $18 Billion Property Tax Relief Bill? Texas’ $18 billion property tax relief bill was passed on June 27 during the second special session of the state legislature and then officially signed into law by the governor last month. Gov. Abbott made reducing

Austin Metro Leasing Market Update - Peak Season Winding Down from Treaty Oak Property Management ATX

 Hi George-Vance -  School is about to begin and peak leasing season is winding down!  We’re ready for some cooler weather, and we hope that you’re staying out of the heat.  As always, I have been monitoring our investor and rental market activity and am excited to share what I'm seeing this month! July 2023 Duplex and SFR July 2023 stats (below)  show a very substantial year over year increase in ‘Average Days On Market’. It is taking a lot longer to lease properties right now. This is due to the heavy saturation of rental inventory available this year, noted in the ‘New Listings’ row in the graphic below. Other noteworthy observations: -4.27% Median Sold Price for Duplexes Another month of  0% change Median Sold Price for SFR These stabilized and slightly downward rates are reflective of my experience this leasing season, so far. Lease rates stayed the same or slightly below what we were achieving last year, for those units that did experience vacancy. The main goal for landlords

Foothill Parkway Brand new Heyl Build Luxury Homes asks 5.5 Million, Contact me, Broker GVM for buyer's agency 512.657.9281

  Hi George Vance, Saw your buyer need in ALN for Casis Elementary. I just pu  Foothill Parkway on ALN yesterday. See link below. 5.5MM. Just wanted to be sure you saw it! It's 5200 sq ft, a little bigger than they're looking for but it's mainly first floor living. Seller's Agent.   Foothill Parkway, Brand NEW single family luxury home construction in prime, core, Central West Austin. click here for the Virtual TOUR. Asking price of 5.5 Million. Contact GVM, broker, 512.657.9281 for buyer's brokerage agency

The Austin Mayor Kirk Watson Wire; Halting Zilker Park Vision Plan

  The Zilker Metropolitan Park Vision Plan will not be on the August 31 st  City Council agenda, and there is no plan to bring it before the Austin Mayor and Council in the future.   I’ve  written previously  and spoken publicly multiple times about my concerns with the Zilker Park Vision Plan.   As the plan is shelved, we should recognize that really good people can often disagree. A lot of people and groups worked hard to do something big and positive for our community. And our city staffers have put a lot into this process, as well. I truly appreciate and respect their efforts.   In this case, I see people who share a love our home and have good motivations all agreeing that Zilker Park is special — an Austin jewel. They also agree that the park needs our care and protection, and folks from all over town deserve access to it. However, they disagree on how to achieve these important purposes.     Going Forward My recommendation is that we cool off for a spell (I wish we could do that

The Return to New York City.

 So I George Vance McGee resided, worked and lived in New York City, Manhattan roughly in 2006-2011 +/-, during the "Mayor Mike Bloomberg" years in office. I resided full-time in a rent controlled room in Midtown West Hell's Kitchen. It was an era  of learning, single-dom and adult-hood maturation during my mid to late twenties decade. After the 2008-2009 Economic collapse I lingered for a couple years, but then eventually left NYC back home for Austin, Texas.  As time accumulated, my thirties' decade of life came and went. They're gone. So here is my "return to NYC" post, blog, photos, vacation and adventure s as a 41.5 year old married pre-dad.  New York City, August 2nd -6th, 2023. While having lunch with a long-time NYC friend and current family man on Bowery Avenue, he stated, "can you believe it's the year 2023, and we are living in it?"   This friend is a 17 year NYC citizen and Brooklyn Brownstone townhome owner, near the Barclay&#