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Dec 30th, 2023
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 Re: High Cost of Houses - Austin, Texas
[Re: Spiderman]
#14358552
05/03/22 08:46 AM
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Joined: Aug 2003
Posts: 30,320
RedRanger
burro desagradable
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burro desagradable
Joined: Aug 2003
Posts: 30,320 |
Capitalism is a beautiful thing Unfortunately in this case it’s not. Imagine value of your home quadrupling with you left holding the tax bill. For no fault of your own and based on others bad decisions you will eventually be paying $2000 a month in taxes. I fail to see the good in that and it’s happening all around me. Now if I didn’t have to have a job and could just move in then fine but that’s not my situation. I expect we will eventually see a push to go to state income taxes. Too many folks are being taxed out of their homes. There's no reason for your income to go up 2.5% per year but your tax bill and insurance to go up 10% per year. I’ve heard this in the past, don’t see anything being done about it. The State of Texas is making a killing just the way it is! Yep, You will never see State Income Tax in Texas, Texas makes way too much money off property taxes.
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Re: High Cost of Houses - Austin, Texas
[Re: Spiderman]
#14358587
05/03/22 11:38 AM
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Joined: Apr 2010
Posts: 26,161
patriot07
TFF Guru
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TFF Guru
Joined: Apr 2010
Posts: 26,161 |
Capitalism is a beautiful thing Unfortunately in this case it’s not. Imagine value of your home quadrupling with you left holding the tax bill. For no fault of your own and based on others bad decisions you will eventually be paying $2000 a month in taxes. I fail to see the good in that and it’s happening all around me. Now if I didn’t have to have a job and could just move in then fine but that’s not my situation. I expect we will eventually see a push to go to state income taxes. Too many folks are being taxed out of their homes. There's no reason for your income to go up 2.5% per year but your tax bill and insurance to go up 10% per year. I’ve heard this in the past, don’t see anything being done about it. The State of Texas is making a killing just the way it is! Yeah it would have to be a grassroots movement where politicians fear for their job if they don't make a change. The past has never seen skyrocketing values like this.
Life can only be understood backwards; but it must be lived forwards.
- Soren Kierkegaard
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Re: High Cost of Houses - Austin, Texas
[Re: Rayzor]
#14358619
05/03/22 12:46 PM
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Joined: Jul 2008
Posts: 5,867
Bayou Burner
TFF Celebrity
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TFF Celebrity
Joined: Jul 2008
Posts: 5,867 |
I moved to Austin/Round Rock in ‘91. Lived in a hotel for 8 months until I could find something to rent. Found a little 3/2 house right down the street from my boss. Rent was 1300 a month  So glad to be away from there.
Last edited by Bayou Burner; 05/03/22 12:47 PM.
"Courage is being scared to death... and saddling up anyway."
John Wayne
ADHAERO VIRTUTI
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Re: High Cost of Houses - Austin, Texas
[Re: Rayzor]
#14358645
05/03/22 01:17 PM
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Joined: Jan 2018
Posts: 4,942
Notaguide
TFF Team Angler
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TFF Team Angler
Joined: Jan 2018
Posts: 4,942 |
How is it that democrats can invade an area and drive the cost up to a point that they are the only ones that can afford to live there and yet be more known as the party that helps the poor?
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Re: High Cost of Houses - Austin, Texas
[Re: leethefishking]
#14358652
05/03/22 01:23 PM
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Joined: Mar 2003
Posts: 10,728
Fishin' Nut
TFF Guru
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TFF Guru
Joined: Mar 2003
Posts: 10,728 |
Capitalism is a beautiful thing Unfortunately in this case it’s not. Imagine value of your home quadrupling with you left holding the tax bill. For no fault of your own and based on others bad decisions you will eventually be paying $2000 a month in taxes. I fail to see the good in that and it’s happening all around me. Now if I didn’t have to have a job and could just move in then fine but that’s not my situation. Flyfisherman lives in Tennessee. No state income tax AND low property taxes.
He is truly a sick individual.
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Re: High Cost of Houses - Austin, Texas
[Re: Notaguide]
#14358665
05/03/22 01:38 PM
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Joined: Aug 2003
Posts: 30,320
RedRanger
burro desagradable
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burro desagradable
Joined: Aug 2003
Posts: 30,320 |
How is it that democrats can invade an area and drive the cost up to a point that they are the only ones that can afford to live there and yet be more known as the party that helps the poor? I figured since it's a college town they have all the liberals type move and live there
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Re: High Cost of Houses - Austin, Texas
[Re: leethefishking]
#14358670
05/03/22 01:47 PM
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Joined: Feb 2005
Posts: 3,581
fivebites
TFF Team Angler
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TFF Team Angler
Joined: Feb 2005
Posts: 3,581 |
Capitalism is a beautiful thing Unfortunately in this case it’s not. Imagine value of your home quadrupling with you left holding the tax bill. For no fault of your own and based on others bad decisions you will eventually be paying $2000 a month in taxes. I fail to see the good in that and it’s happening all around me. Now if I didn’t have to have a job and could just move in then fine but that’s not my situation. You're not wrong about Lee. My appraisal on my property DOUBLED this year! I have a rent property near the Domain that is going from $328,000 to [b][/b][i][/i][u][/u]$527,000!! Yet it rents for $2200/month. So for a paid off property that rents for $2200, I'm paying $1250 in property tax, and now the insurance company will want me to double the insured rate, so another $150 down the tubes. For a $500,000 investment my net, if there are no repairs (you guys own a boat...same [censored] for houses...break out another $1000), I will net around $10,800, for a net return of .0216% a year.
2019 Chevy Tahoe
2018 Basscat Eyra 250 Proxs
PB Wife of 32 years!
PB Largemouth 9.56 Ray Roberts
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Re: High Cost of Houses - Austin, Texas
[Re: Rayzor]
#14358738
05/03/22 02:46 PM
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Joined: May 2009
Posts: 8,735
Barrett
TFF Celebrity
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TFF Celebrity
Joined: May 2009
Posts: 8,735 |
Its crazy to hear all this "taxed out of your homes" stuff. Our tax rate I believe is 2.48 percent. If your house goes up 100K which would be a lot that's a little over 200 dollars a month more. If an extra 50 dollars a week breaks you you may want to rethink owning a house. I will gladly take an increase in taxes which are STILL 30+ percent under market value and continue to have incredible equity in my investment.
As far as renting goes my tenants on one of our rental homes are about to move out and I am thrilled. I was getting 1950 and will have people lined up at 2500. You know how much taxes would have to increase on that property to negatively impact my net cash flow at and extra 550 a month? Ill let you do the math. Another one of our rentals when it comes due will go from getting 2150 a month to 2650. It all works out for the investor in the end if you are willing to charge close to market rate.
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Re: High Cost of Houses - Austin, Texas
[Re: Fishin' Nut]
#14358774
05/03/22 03:25 PM
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Joined: Sep 2018
Posts: 2,480
Flyfisherman
Mama's Boy
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Mama's Boy
Joined: Sep 2018
Posts: 2,480 |
Capitalism is a beautiful thing Unfortunately in this case it’s not. Imagine value of your home quadrupling with you left holding the tax bill. For no fault of your own and based on others bad decisions you will eventually be paying $2000 a month in taxes. I fail to see the good in that and it’s happening all around me. Now if I didn’t have to have a job and could just move in then fine but that’s not my situation. Flyfisherman lives in Tennessee. No state income tax AND low property taxes. There’s a reason I live in Tennessee. It’s stupid cheap to live here.
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Re: High Cost of Houses - Austin, Texas
[Re: Rayzor]
#14358775
05/03/22 03:29 PM
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Joined: Mar 2003
Posts: 18,279
Hookem
TFF Guru
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TFF Guru
Joined: Mar 2003
Posts: 18,279 |
Got an offer for our current home in CP at 2600s/ft for 585,000 that was bought for 149,000. Needs some repair. Have accepted the Redfin offer and am applying it for a 980,000 new custom home in Liberty Hill, paying cash for that one. Before we entered in the contract, we saw a few houses and made an offer on one that was listed at 715,000 in CP. It sold for almost 1,000,000. My parents home in Austin was bought for 15,000 new in 1964, 1300s/ft. Niece and her husband now live there since both Ma and Pa have passed. It is not for sale but they have been offered 850,000. 
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Re: High Cost of Houses - Austin, Texas
[Re: Rayzor]
#14358790
05/03/22 03:47 PM
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Joined: May 2010
Posts: 9,208
Space
TFF Celebrity
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TFF Celebrity
Joined: May 2010
Posts: 9,208 |
Nobody mentioned that Austin is the fasted growing city in the nation. Housing is at a premium has people snatching up housing as fast as it is available. A Lot of tech jobs plus Tesla's new plant.
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Re: High Cost of Houses - Austin, Texas
[Re: Rayzor]
#14358809
05/03/22 04:00 PM
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Joined: Jul 2002
Posts: 5,743
Mark C
TFF Celebrity
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TFF Celebrity
Joined: Jul 2002
Posts: 5,743 |
You are not a good or nice person.
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Re: High Cost of Houses - Austin, Texas
[Re: Barrett]
#14358817
05/03/22 04:08 PM
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Joined: May 2002
Posts: 5,037
leethefishking
TFF Celebrity
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TFF Celebrity
Joined: May 2002
Posts: 5,037 |
Its crazy to hear all this "taxed out of your homes" stuff. Our tax rate I believe is 2.48 percent. If your house goes up 100K which would be a lot that's a little over 200 dollars a month more. If an extra 50 dollars a week breaks you you may want to rethink owning a house. I will gladly take an increase in taxes which are STILL 30+ percent under market value and continue to have incredible equity in my investment.
As far as renting goes my tenants on one of our rental homes are about to move out and I am thrilled. I was getting 1950 and will have people lined up at 2500. You know how much taxes would have to increase on that property to negatively impact my net cash flow at and extra 550 a month? Ill let you do the math. Another one of our rentals when it comes due will go from getting 2150 a month to 2650. It all works out for the investor in the end if you are willing to charge close to market rate. Maybe an extra 50 a week and prob 15 a week in insurance year after year isn’t a big deal to you but it damn sure is for a public servant. Crazy thing is we are 30 miles from Austin living in what was an open farm field 20 years ago and we have seen the same tax increases.
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Re: High Cost of Houses - Austin, Texas
[Re: leethefishking]
#14358823
05/03/22 04:14 PM
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Joined: Mar 2008
Posts: 61,046
LoneStarSon
Private Dancer
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Private Dancer
Joined: Mar 2008
Posts: 61,046 |
Its crazy to hear all this "taxed out of your homes" stuff. Our tax rate I believe is 2.48 percent. If your house goes up 100K which would be a lot that's a little over 200 dollars a month more. If an extra 50 dollars a week breaks you you may want to rethink owning a house. I will gladly take an increase in taxes which are STILL 30+ percent under market value and continue to have incredible equity in my investment.
As far as renting goes my tenants on one of our rental homes are about to move out and I am thrilled. I was getting 1950 and will have people lined up at 2500. You know how much taxes would have to increase on that property to negatively impact my net cash flow at and extra 550 a month? Ill let you do the math. Another one of our rentals when it comes due will go from getting 2150 a month to 2650. It all works out for the investor in the end if you are willing to charge close to market rate. Maybe an extra 50 a week and prob 15 a week in insurance year after year isn’t a big deal to you but it damn sure is for a public servant. Crazy thing is we are 30 miles from Austin living in what was an open farm field 20 years ago and we have seen the same tax increases. Not to mention as you get older, healthcare costs go up, food bills are going up, etc. We're very fortunate as the houses are paid off, but I could easily see how an older person could easily lose their home due to a tax bill...especially if their spouse were to die after a long illness and left no life insurance. Heck, a family friend is now in her 70's and had to go back to cutting hair after her daughter was first diagnosed with liver issues 14 years ago. The daughter just died after the liver that was transplanted 3 years ago began being rejected a year ago. The daughter couldn't work for at least the last 10 years and the mom went back to cutting hair to support her. Life isn't always fair.
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Re: High Cost of Houses - Austin, Texas
[Re: Hookem]
#14358827
05/03/22 04:16 PM
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Joined: Apr 2003
Posts: 512
Crowbar
Pro Angler
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Pro Angler
Joined: Apr 2003
Posts: 512 |
Got an offer for our current home in CP at 2600s/ft for 585,000 that was bought for 149,000. Needs some repair. Have accepted the Redfin offer and am applying it for a 980,000 new custom home in Liberty Hill, paying cash for that one. Before we entered in the contract, we saw a few houses and made an offer on one that was listed at 715,000 in CP. It sold for almost 1,000,000. My parents home in Austin was bought for 15,000 new in 1964, 1300s/ft. Niece and her husband now live there since both Ma and Pa have passed. It is not for sale but they have been offered 850,000. Sold our place in Cedar Park last December for over 5 times what we paid for it in 1996. Took that money and did something I swore I'd never do again...bought a place in Travis County. It was Dad's place and it had too much sentimental value to let go...plus it's on the lake. LOL It appraised at $235 the last two years...this year, $511K. It's like the market just snuck up on the chief appraiser for the county. Hard to gripe though as we could easily sell it for near double that.
Peace is that brief glorious moment in history when everybody stands around reloading
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