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RPT Blog

Friday, March 4, 2022   /   by Kathryn Jones

Bell County Market Update: What Our Current Texas Buyers Need

Bell County is currently a sellers market, meaning that there are more people looking to buy than there are homes available. The median listing home price in Bell County, TX was $249.5K in January 2022, trending up 21.7% year-over-year. The median listing home price per square foot is also $131. This means that if you have a great piece of property, with or without a home, it's a great time to sell (& we have clients looking exactly in this area!)
As many of you know from reading our President, Russ Phillips’ most recent blog post, “A Note From Russ On His 20th Real Estate Anniversary: Inflation, Supply vs. Demand, Beating of War Drums & More,” real estate inventory is low right now. Really low. Check out this snippet from Russ’ realty wisdom to get a better viewpoint on the current marketing inventory:

“A neutral/balanced market between buyers and sellers is thought to be enough homes on the market that it would take SIX months to sell all; ...

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  seller, buyer, market update, real estate

Friday, February 25, 2022   /   by Kathryn Jones

A Note From Russ On His 20th Real Estate Anniversary: Inflation, Supply vs. Demand, Beating of War Drums & More

I'll bet you didn't know this, but I am officially an Endangered Species. I am a native Austinite that is over 40 years old. I was here before hipsters, Starbucks, and skinny jeans. According to statistics I made up last Wednesday, I am one of only FOUR native Austinites at this age or older that you are destined to meet in your lifetime.  

Why should you care? (My kids ask this too....just silently with an eye roll....) 

Well, I grew up in a Real Estate family here watching and learning as we navigated the last significant inflation the news keeps referring to. I remember the Carter Administration. I remember the Miracle on Ice at the Lake Placid Olympics (which I watched in shorts because hey...I was in Austin). I remember when mortgage rates were flirting with reaching 20%. I remember that we had not one, but TWO boom and bust cycles in Texas Real Estate in the 1980s. The second one was particularly challenging to my family's sphere of influence, and I remembe ...

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  seller, buyer, buying vs. selling, economy, market update, real estate

Wednesday, January 19, 2022   /   by Kathryn Jones

Homestead Exemption In Texas: Everything You Need To Know For 2022

It's that time of year to start thinking about taxes once more. Tax season may not be your favorite time of year, but for homeowners who purchased a home in Texas the previous year, it might provide some pretty sweet benefits.

Every homeowner has the chance to apply for the Residential Homestead Exemption from January 1st to April 30th of the tax year. To help you get started, we've compiled a list of frequently asked questions about filing an exemption, as well as all the tools you'll need to get started right away!

What Is a Homestead Exemption?

The Homestead Exemption is essentially a property tax exemption that homeowners can claim on their primary dwelling. It lowers your taxes by exempting a portion of your home's worth from taxation. If your home is valued at $300,000 and you qualify for a $25,000 exemption, for example, you will pay taxes on it as if it were only worth $275,000.

The only property that qualifies for the Homestead Exemption is your primary residence ...

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Thursday, January 13, 2022   /   by Kathryn Jones

A Note From Russ On Today's Inflation, Interests Rates, Home Prices & More

Today’s headline is a kickstart if you are thinking about real estate.  Why?
 
Well if you were not around for the 1970’s and 80’s, you may not be familiar with the fact that federal policy to slow inflation impacts interest rates.  For the last 25-30 years we have seen declining rates and I think we have taken it for granted. 
 
When I bought a home in 1999, I danced a happy dance to lock my interest rate in at 7.75%…with a credit score of 800.  Today that would be a loan shark/hard money rate. 
 
In my 20 year career, I have been hesitant to play “chicken little” with interest rates and bark to the world “the sky is about to fall.”  I’ve never wanted to be “that guy.”  So why am I saying this now?
 
Because the analysts, the talking heads, and people who deal with this sort of thing are talking like it’s unavoidable, and pondering how much rates wi ...

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