Protesting Your 2023 Property Taxes
As many are aware, it’s that wonderful time of year again - tax season. This tax season many property owners in Austin, Texas will pay more than they need to on their property taxes.
This is why Stone Oak Property Management recommends our clients and property owners across Austin protest their 2023 property taxes. Read more information about the benefits of protesting your property taxes in Austin and how property owners can do so.
There are many services out there that require you only to pay should they be successful in their protesting of your property taxes and Stone Oak has partnerships with said companies to make our clients’ lives easier come tax season.
For more information about protesting your taxes this year with Stone Oak, contact your property manager today!
Austin Housing Market Update
According to the Austin Board of Realtors’ latest report, the president of the Board stated that Austin’s real estate market was ‘trending in the right direction’. An increase in inventory during the month of February gave buyers more leverage in the market and more room to negotiate on their new home purchases. In the charts below from KXAN, you can see the shift in YOY days on the market for the Austin MLS as well as the changes in median home cost across Austin’s different markets.
In February 2023, 2,106 homes were sold across the Austin MSA. This is a 17% decline from the level of homes sold in February 2022, however, this is a nearly 30% increase in homes sold over last month. So while the market is recovering from where it once was, things to do seem to be on the come up for the Austin real estate market.
How does this affect the rental market in Austin?
We are seeing more offers for rent right now than we have in the past 24 months. Incoming tenants are negotiating lower rents due to the increase in inventory available for rent.
At Stone Oak, we had at least four offers for lower rates in the 1st 10 days of March 2023. All owners accepted these offers and all 4 properties were leased. Please be mindful in pricing your rental. We are still seeing some owners wanting to list properties higher than comps suggest leading to a higher number of days on market and when prospective tenants see homes listed for a large amount of time, they start negotiating.
Lawn Care for Vacant Rental Properties
Spring is here! Lawns are growing again and it is starting to get to the point where we need to start recurring lawn service on vacant properties. If you have a vacant property, please be sure to let us know if you have any special requests when it comes to caring for your lawn.
Thank you for being a client of Stone Oak Property Management. Please don't hesitate to contact our team should you or your property need anything!
