🤠🏡 Selling Austin #68

Guess The Most Expensive City in The US 🤔 + A Castle In Texas 🏰

Author

Kirtana Reddy
June 06, 2025

Hi y’all, welcome back to Selling Austin - your weekly local real estate recap.

Inside:Guess The Most Expensive City in The US 🤔 + A Castle In Texas 🏰

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(*unbiased opinion)

WHAT'S INSIDE

🔢 THE DATA

👋 Hi, I’m Kirtana!

I’m an ex-dentist turned Realtor - let’s work together! Email me, tweet me or send me a carrier pigeon. 🐦️ 

Let’s test your knowledge with some interesting data - click to reveal the answer 👀 

Guess the city with the most cancelled home sales

20 percent of pending deals fell out of contract in this city

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Guess the city with the most price cuts on homes

35% of home had a price cut here

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Guess the most expensive city in the US

1.1% of homes are affordable on this cities median income

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🤠 WHAT’S HAPPENING AROUND TOWN

Governor Abbott signed legislation to bring back billions of dollars in property taxes.

Don’t worry just yet - this won’t affect you.

TLDR:

  • Multifamily investors have been taking advantage of a tax loophole

  • They would partner with affordable housing entities in middle of nowhere Texas cities

  • This would allow them to secure property tax exceptions

  • They would leverage these property tax exemptions where they were always focused - big Texas cities

The goal of the program was to promote affordable housing development. Instead - struggling investors were able to wipe away millions in property taxes.

Some critics, like, Waterford Property Company’s John Drachman care calling this “Anti-Texas.”

Multiple sources expect lawsuits will challenge the new legislation immediately. Will keep you updated as more information comes in.

Read more here.

⁉️ WHAT THIS MEANS FOR YOU

If you’re a buyer/seller/investor/renter or just interested in real estate - this weekly newsletter will help guide your decision making and help you better understand the market.

Buyer
- We are still in a buyers market

- You will see increased inventory in the coming months

- Do not expect exceptional properties to sit on the market - we are seeing quick movement on prime homes

Seller
- Increased inventory = increased competition

- Avoid common listing pitfalls: inaccurate pricing will lose you both time and money. If you renovate - be specific and intentional. Not every upgrade has the desired ROI.

Renter
- If you’re living in a high rise downtown - NEGOTIATE

- Seeing big complexes offer 6-8 weeks free

🤤 HOUSE WORTH DROOLING OVER

Um. I think I am at a loss for words to describe this. I will say - everyone has their own taste. If you were worried, yes, it does come with a large dragon statue. 🐉 

Yours for: $15,000,000

7400 Park Rd #4, Burnet, TX 78611

14000 square feet
7 bedrooms and 8 bathrooms

www.zillow.com/homedetails/7400-Park-Rd-4-Burnet-TX-78611/452050457_zpid/?mmlb=g,0

Thank you for being here! Reply to this email if you have any questions or just to say hello! 👋 

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