Episode 59, Segment 3: The Market in Lago Vista, Texas
This week, John Schutze was excited to welcome Lago Vista Real Estate Expert Michele Milivojac, also known as "The Barefoot Realtor," to the show to discuss the booming real estate market in Lago Vista, Texas.
To sum up the Lago Vista market in three words:
"It's going crazy!"
Because it's getting so hard to buy a property at a decent price close to Austin, people are now beginning to push out to the Lago Vista area.
"I think people are considering it as an option when previously they wouldn't have," Michele says. "People think Lago is so far, but at the end of the day it's really not - it's only 15 minutes away from Cedar Park and you can still get to downtown Austin in 40-45 minutes."
Prices are up
"We're seeing a huge demand for homes that are $250K and under, but when something comes on the market for that price, it's usually gone in a day," says Michele. "There's little inventory left in that price range."
Michele says that the majority of the properties in Lago Vista are 2,000 square foot ranches, but there is a wide range of homes available.
"Looking at the market right now, the lowest priced home I've seen is an 1,100 square foot cottage on the market for just under $140K - at the high end, there's an 11,000 square foot waterfront home on the market for 8.5 million dollars," she says. "So there's a large scope and there are even a lot of condos available that are really affordable - some are even under $100K."
Lago Vista is a small school district with just one elementary school, one middle school, and one high school, with a total of just about 1400 students in the entire district.
"Since the 99-00 school year, the district has grown 30 percent, so that speaks greatly to the younger families that are moving to the area," says Michele. "All three of my kids go to school here, and the schools are great."
USDA loans are a zero-down loan program that you can get for affordable monthly payments at great rates. "The loan is strictly for areas considered rural, and at the moment, Lago Vista is still considered a rural area, making it an eligible place to receive a USDA loan," John says.
Cheap HOA fees
"We have HOA fees that are unheard of: It's only $130 for the entire year!" says Michele. "For that small fee, you get access to eight waterfront parks, four boat ramps, two public golf courses, a marina, tennis court, basketball court, city pool, and POA pool."
While Lago Vista is Michele's specialty area for real estate, she does help out homebuyers looking everywhere in the Austin area. If you're looking for a fun and engaging realtor to help you find the perfect home, just give Michele Milivojac a call at (512) 786-6705 or email her at firstname.lastname@example.org.