Blame Californians for Jacking Up Texas Home Prices, Analysts Say

[Sanguine]

A sizzling residential real estate market fueled by incoming Californians, low supply, high demand, flat salaries, and local property taxes are pricing people out of homeownership in Austin.

Home prices have jumped faster in Austin than anywhere else the country, according to KVUE....

The Texas A&M Real Estate Center examined the Austin local market area (LMA) over five years. In January 2011, the Austin-Georgetown-Round Rock area median home prices were $199,700. By January 2015, that median hovered at $287,000. At the end of 2016, university real estate analysts found the home mid-price point at $332,000.

The real estate analysts also charted home prices in the larger Austin-Round Rock Metropolitan Statistical Area (MSA), reflecting parallel price spikes beginning in 2014. By June 2016, the median was $290,000 although the market cooled slightly in December, lowering the median to $287,000.

Breitbart Texas reported Californians make up the largest number of Texas transplants based on figures from the Texas Association of Realtors’ 2017 Texas Relocation Report. The study accounted for a net gain of 16,890 new Austinites from other U.S. states; of them, 2,551 came from the Los Angeles metro area. Culture Map Austin estimated roughly 15,000 Californians transplanted to the Austin metro area between 2010-14. The Austin-Round Rock (MSA) crossed the 2 million population mark by 2015.

Experts say this influx drove up housing prices since Californians, who often cashed out on selling homes in over-inflated real estate markets, then paid outright for houses in the high-tech hub. Often, locals cannot compete. However, Brandy Guthrie, president of the Austin Board of Realtors and a lifelong Austin resident, also attributes stagnant salaries and flat pay raises to the problem.
...

This problem extends beyond Austin. Breitbart Texas reported on the off-kilter affordability equation in the 2015 Dallas-Fort Worth housing market. Dallasites could not keep up with soaring home prices impacted by transplants, insufficient new builds, and low inventory for sale.
...

...

On Friday, U-Haul named Texas the number one U.S. growth state for 2016. Texas arrivals outpaced departures 50.8 to 49.2 percent largely because of relocations to Austin, the number two U.S. growth city in the 50,000-plus population category.

Follow Merrill Hope, a member of the original Breitbart Texas team, on Twitter.

http://www.breitbart.com/texas/2017/02/06/blame-californians-jacking-texas-home-prices-analysts-say/

[Smokin Joe]

Y'all gonna get Californicated. They sell a shanty for a half million out there, and when they move in, they'll jack the property values, first by paying too much, then by flipping homes to each other. Then they'll raise the property values, reassess existing housing, and tax the old folks out of their homes...

[Wingnut]

Bless their hearts.  That;s why I got a full price offer in 8 hours for my shack in Keller, Tx last year!

[Idiot]

Here's hoping the Californians stay in the Austin area and stay away from the rest of the state.  In a way...Austin deserves them....lol.

[truth_seeker]

California and Californians are the worst. Especially from places like coastal counties from San Diego to San Luis Obispo.

Awful climate. No jobs. Everything sucks. Shut in all winter with snow, ice, muck.

[IsailedawayfromFR]

I plead guilty. After selling my house in California 13 years ago for 238% of what I had bought it for two and half years before, I bought in Texas.

I bought a new house, a lakehouse, a farm and a marina with the proceeds.

OK, I'm guilty and feel so bad.

[Idiot]

I plead guilty. After selling my house in California 13 years ago for 238% of what I had bought it for two and half years before, I bought in Texas.

I bought a new house, a lakehouse, a farm and a marina with the proceeds.

OK, I'm guilty and feel so bad.

Shoo....go back home!!!!   

[IsailedawayfromFR]

Shoo....go back home!!!!   

I am home.  My roots go back to 1835, and a great grandfather was mayor of Austin.

Am also paying a lot of real estate taxes here in Texas.

[GrouchoTex]

I've been watching this for a while now.
Once upon a time, I had the idea of buying land in or near the hill country, not much, 2 to 5 acres, and retiring there.
That is no longer a viable option for me.
I couldn't afford it now, and it started a few years ago.

Even in my own Sugar Land neighborhood, I've run into one who proceeded to tell me how awful guns are, and that we were all a bunch of rednecks.
I wanted to ask if some Texans rounded'em up at gunpoint and made them move here.

Back 35+ years ago, you'd see bumper stickers that said "I don't care how they did it up north", or "last one out of Ohio, turn out the lights."
Were now getting that same kind of thing happening again, but from the west Coast.

We can have all new bumper stickers!!!

"I don't care how they did it in California".
"Last one out of Los Angeles, turn out the lights."

[IsailedawayfromFR]

I've been watching this for a while now.
Once upon a time, I had the idea of buying land in or near the hill country, not much, 2 to 5 acres, and retiring there.
That is no longer a viable option for me.
I couldn't afford it now, and it started a few years ago.

Even in my own Sugar Land neighborhood, I've run into one who proceeded to tell me how awful guns are, and that we were all a bunch of rednecks.
I wanted to ask if some Texans rounded'em up at gunpoint and made them move here.

Back 35+ years ago, you'd see bumper stickers that said "I don't care how they did it up north", or "last one out of Ohio, turn out the lights."
Were now getting that same kind of thing happening again, but from the west Coast.

We can have all new bumper stickers!!!

"I don't care how they did it in California".
"Last one out of Los Angeles, turn out the lights."

I grew up in the hill country and have Austin loaded up with relatives.  It is not longer the place a Texan would wish to go, not only for liberal policies and sky-high real estate, but it has a water problem that will only get worse with time.

I retired in East Texas, which has a lot more rain, cheaper, friendlier and God-fearing folks like my Congressman Louie Gohmert.

[Sanguine]

I grew up in the hill country and have Austin loaded up with relatives.  It is not longer the place a Texan would wish to go, not only for liberal policies and sky-high real estate, but it has a water problem that will only get worse with time.

I retired in East Texas, which has a lot more rain, cheaper, friendlier and God-fearing folks like my Congressman Louie Gohmert.

Huh, me too, grew up in the Hill Country.  Well, except for the retire part.  Haven't done that yet, but I will be retiring to NE Texas.  I love the hill country, but it's becoming covered with ticky tacky houses and taxes. 

[GrouchoTex]

I've been thinking that as well.
I like it there.
I have a postage sized piece of property that I could knock down the trees and put something up there.
Right on Lake Livingston, but it is small.
It's on the tax rolls for only $3800.00
But don't tell the Californians, They may make me a better offer!

A friend of mine is going to retire in Nacogdoches.

If you were to draw a line from Caldwell to Halletsville, I've been thinking about that, too.
It would put me about equal distance from San Antonio to Houston.
If it were closer to Caldwell, I'd be about roughly equal to Dallas, Austin, S.A. and Houston too, kind of in the middle of all of them.

3rd option is Arkansas, somewhere near Mountain Home, were I could trout fish regularly.

[truth_seeker]

I turned down a job offer in Houston, in 1973 because my interview was in August, it was about 95 F with 95% humidity.

I doubted my wife would enjoy those climate conditions, we both had family in Orange County CA, and we lived less than a mile from the cool Pacific Ocean.

Still fell that way, have lots of family that have gone to Texas, latest being an RN to Cypress, not far from my job offer 44 years ago.

My BIL lived for a time in The Woodlands. His wife said she didn't much care for the snakes in the swimming pool.

Back in the 70s and 80s I traveled on business to our Houston office and had several good friends there. We often compared real estate. At that time California prices went up, but Texas did not go up. Plus taxes and utilities were higher in Texas.

So finally you get to enjoy prices going up. It builds net worth. 

[thackney]

I've been watching this for a while now.
Once upon a time, I had the idea of buying land in or near the hill country, not much, 2 to 5 acres, and retiring there.
That is no longer a viable option for me.
I couldn't afford it now, and it started a few years ago.

Even in my own Sugar Land neighborhood, I've run into one who proceeded to tell me how awful guns are, and that we were all a bunch of rednecks.
I wanted to ask if some Texans rounded'em up at gunpoint and made them move here.

Back 35+ years ago, you'd see bumper stickers that said "I don't care how they did it up north", or "last one out of Ohio, turn out the lights."
Were now getting that same kind of thing happening again, but from the west Coast.

We can have all new bumper stickers!!!

"I don't care how they did it in California".
"Last one out of Los Angeles, turn out the lights."

I went south from Mo City to Rosharon.  Most of the time it remains above water.

[GrouchoTex]

To each their own, I guess.

Property Taxes are higher, but there is no state income tax, and the values of the property are still lower than California.
Utilities can be higher, but not always, and gasoline is always lower.

Yes it is hotter-n-hell, with air you can wear.
I've killed Copperheads in my back yard.
Still, there isn't a place I'd rather be.

I lived in So. Cal for the latter half of my childhood.
Dad moved us there, after an Uncle told him of this great job offer.
He did alright, but even near the end of his life, it was getting too expensive for him, and he ended up renting a small space from a freind, parking and old motor home there, that he lived in.

My story was, I lived in the Inland Empire,  I graduated High School the same time the Kaiser Steel mill closed.
I couldn't even find a burger flipping job.
All the good jobs were taken up, and a lot of supporting business, anything from Trucking companies to liquor stores, they left, too.

I came back home and found work, and at 19, I went into a company the supplies parts to refineries, chemical plants, and pipelines.
March 10th, in about 2 weeks, will be my 35th anniversary in this industry, and I haven't been fired or laid off.
It bought that inexpensive home and put kids through school.

No, I don't relish the thought of Ft. Bend County becoming Orange County, yet I see signs that it is happening.
Sugar Land Town Square, anyone?
I just SMDH when I drive by there.

[GrouchoTex]

I went south from Mo City to Rosharon.  Most of the time it remains above water.

Yes sir, you did!

I still show my friends the pictures you posted of your giant house inter-tube!

[thackney]

I've killed Copperheads in my back yard.

When we lived in Quail Valley, I caught one in my living room.

Sugar Land Town Square, anyone?
I just SMDH when I drive by there.

I cannot understand the appeal to go shopping or to a restaurant with no place to park.

[skeeter]

I blame leftists for Jacking up California.

[GrouchoTex]

When we lived in Quail Valley, I caught one in my living room.


I cannot understand the appeal to go shopping or to a restaurant with no place to park.

The last ones I killed were 3 baby copperheads the spring after Ike.

Hwy 6 from Brooks Street to 59? I think I could walk faster!

[Wingnut]

Shoo....go back home!!!!   

His user name should be IsailedawayfromCA

[IsailedawayfromFR]

I've been thinking that as well.
I like it there.
I have a postage sized piece of property that I could knock down the trees and put something up there.
Right on Lake Livingston, but it is small.
It's on the tax rolls for only $3800.00
But don't tell the Californians, They may make me a better offer!

A friend of mine is going to retire in Nacogdoches.

If you were to draw a line from Caldwell to Halletsville, I've been thinking about that, too.
It would put me about equal distance from San Antonio to Houston.
If it were closer to Caldwell, I'd be about roughly equal to Dallas, Austin, S.A. and Houston too, kind of in the middle of all of them.

3rd option is Arkansas, somewhere near Mountain Home, were I could trout fish regularly.

I just sold a lakehouse on Lake Livingston.  Close enough to Houston that people love it for weekends.

And that line between Caldwell to Halletsville is pretty close to Shiner......

[IsailedawayfromFR]

Back in the 70s and 80s I traveled on business to our Houston office and had several good friends there. We often compared real estate. At that time California prices went up, but Texas did not go up. Plus taxes and utilities were higher in Texas.

So finally you get to enjoy prices going up. It builds net worth.

When retired, no one cares much for net worth as much as taxes staying low.  Higher prices = higher taxes generally.

[truth_seeker]

When retired, no one cares much for net worth as much as taxes staying low.  Higher prices = higher taxes generally.

Now there is a good thing, from California; voters in 1977 to pass Prop. 13.

Prop. 13 states that property taxes, cannot increase from the initial rate when you purchase the property, by more than 2% per year. The rate is 1% of accessed value, plus locally approved bonds. That usually means a rate of about 1.2%.

300,000 property purchased 5 years ago, would be (300000*0.012) 300000*.012=$3,600

Ask those people coming from California. They may try to get it going, in TX.

It was to prevent the often huge increases, from reappraisal. It has been attacked, but not defeated yet. That is 40 years of predictable taxes.

[roamer_1]

Y'all gonna get Californicated.

Yep. Have I mentioned that Montana has -40 below weather for 8 months out of the year, skeeters the size of house cats and grizzly bears around every turn of the trail?

[IsailedawayfromFR]

I turned down a job offer in Houston, in 1973 because my interview was in August, it was about 95 F with 95% humidity.

I doubted my wife would enjoy those climate conditions, we both had family in Orange County CA, and we lived less than a mile from the cool Pacific Ocean.

That's why they invented air conditioning.

Try growing up in that weather outside Houston without AC like I did

BTW, I've lived in New England as well.  It gets hot and not much AC either.  Just not that many days.  And hurricanes. Had an eye pass over my house once.