OHA Market Update Series - Aug 28, 2025
National: Some agents are listing homes for $1—not to sell them for a buck, but to spark buzz, attract more buyers, and let the market set the true value. At the end of the day, the market always decides what a home is really worth.
Local: Texas homeowners could see up to $500 a year in property tax savings if voters approve a historic tax cut package this November, raising homestead exemptions and expanding breaks for seniors, disabled homeowners, and small businesses. The measures won’t take effect unless they pass on the November 4, 2025 ballot.
Intrigued? Keep reading.
(4 minute read)
National Real Estate Update
Housing Trends, Interest Rates, and Market Forecasts
Do $1 Homes Really Exist? Here’s What’s Actually Going On
Every once in a while, a headline pops up that grabs everyone’s attention—like “Home Listed for $1.” Sounds too good to be true, right? Because it is.
Lately, some agents have been using the $1 listing tactic as a way to market homes and let the market set the price. Instead of spending weeks debating with a seller about whether to list at $489,000 or $499,000, they simply list the property for a buck and wait for the offers to roll in. And roll in they do.
One agent in Newark, NJ listed a three-bedroom home for $1. After entertaining dozens of offers—literally ranging from $1 to $550,000—the house ultimately sold right in line with the neighborhood comps, around $550,000. Another agent in Manville, NJ is currently trying the same approach with a five-bedroom property and has multiple offers on the table.
So why would an agent (or seller) do this? A few reasons:
It draws attention. A $1 home is clickable, shareable, and creates buzz. Suddenly, a house that might have sat quietly on the market is attracting hundreds of eyeballs.
It widens the buyer pool. Buyers of all budgets feel like they can at least throw their hat in the ring. From there, the market does its job.
It removes the guesswork. Sellers don’t have to stress over “Did we price it too high? Too low?” The offers speak for themselves.
But here’s the key takeaway: a $1 listing is not a $1 deal. At the end of the day, homes still sell for market value. If a property is worth $550,000, that’s what it will sell for—whether it starts at $1, $499,000, or even $1 million. The only difference is how quickly it gains traction.
It’s definitely an interesting strategy, and it reminds me of something I always tell clients: the market decides value. List price is just a suggestion.
OHA’s HOT TAKE:
Would I recommend it for every seller? Probably not—it’s a bold move and works best when you’re prepared to handle a flood of interest (and offers). But it’s a good reminder that creative marketing can make a big difference, even in a competitive market.
✨ Curious about unique selling strategies here in Austin?
Let’s chat—I’d love to help you find the right approach for your home.
Austin Area Real Estate & Community Update:
Market Trends, Local News, and Neighborhood Insights
Texas Homeowners Could See Historic Property Tax Relief This November
If you’ve lived in Texas for any amount of time, you’ve probably felt the sting of property taxes. The good news? Relief could be on the way—and not just a little. We’re talking about one of the biggest tax cuts in Texas history.
This summer, Governor Abbott signed a package of bills aimed at easing the burden for homeowners and small business owners. The proposals would:
Raise the homestead exemption for school district taxes from $100,000 to $140,000. (For context— in 2015, it was only $15,000!)
Expand that exemption to $200,000 for seniors and disabled homeowners.
Raise the business property exemption from $2,500 to $125,000—big news for small business owners across the state.
For the average homeowner, that could mean about $500 in annual savings. Seniors and disabled Texans stand to save even more.
But here’s the catch: none of this takes effect unless voters approve it in the November 4, 2025 election.
And right now, all the headlines are focused on a high-stakes redistricting fight in the legislature—leaving this massive property tax cut flying under the radar.
So, what does this mean for you as a homeowner?
If you’re eligible, the new exemptions would apply only to the school district portion of your tax bill. In Austin, for example, a homeowner with a median-priced home of $580,000 would save roughly $380 per year with the higher homestead exemption—or $951 annually if you qualify for the senior/disabled exemption.
Voter turnout in off-year elections is historically low—just 14% in the last amendment election—so every single vote really counts here.
Key voter dates to know:
Voter registration deadline: October 6, 2025
Early voting: October 20–31, 2025
Election Day: November 4, 2025
Property tax relief has always been a hot-button issue in Texas, and historically voters have supported it. If this package passes, it will be one of the most significant changes for homeowners in the state’s history.
OHA’S HOT TAKE:
👉 Whether you’re a current homeowner or planning to buy in the near future, this is one ballot measure you’ll want to keep an eye on—because a “yes” vote in November could mean real money back in your pocket every single year.
Jennifer Carey
Realtor and Agent Success Manager at Open House Austin, real estate investor, and renovation enthusiast with Wimberley Airbnbs. She loves mid-century modern design, hiking Austin with her dogs, yoga and pilates, and has been enjoying gardening at her new home in East Austin🎶✨
