It has rained over 16″ since September 1st as much as the entire year leading up to it. While it is great that most of Central Texas are out of drought status and our lakes are all filling to the top the rain doesn’t come without its problems. Many areas along Lake Travis and the Colorado River are experiencing pretty severe flooding and this is effecting Homeowners and the real estate market as a whole in a few distinct ways.

The Good

Lakefront Homes Appreciating

When it comes to rain there aren’t a lot of silver linings…unless you have a home on the lake. Lake Travis and Lake Buchanan have been pretty low through the summer months, coming in over 24 feet less than full. Fortunately, there is a surplus in all of our lakes that should help with homes appreciation for those considering a move in the spring.

The Bad

Buyer Delays

If you are in the process of building a new home you are probably experiencing some very significant delays in the completion of your new home. Regardless of whether your home already has walls and a roof or is just a flat piece of dirt you can be affected. Lumber and other construction materials can become damaged if they’ve been left in the elements or your lot may be inaccessible depending on the community you live in.

We are also seeing problems with homes that are now under contract addressing issues that didn’t exist at the time of the contract, like fallen trees, damaged roofs, fencing, and landscaping, or waterlogged septic systems. This can result in delays because of negotiations, rescheduled closing dates and a struggle to find available repair professionals who are inundated with work.

Unexpected Expense

Rain and the storms that bring them can be violent in Central Texas. This can cause significant damage to your property in the form of blown off shingles, collapsing fences, or even flooding. If you are thinking about shopping for a new home be on the lookout for rising prices. Some of the additional expenses that inclement weather causes could be rolled into the cost of your new home.

Temporary Housing

The delays that we are experiencing will inevitably throw off buyers plans and may result in a rush on temporary housing while people struggle to cover the time between when their current lease ends and their new home is completed.

Flood Plains

The State of Texas is constantly evaluating floodplains and one of the biggest metrics they rely on is historical data. If you are curious about these changes as they happen in real time you can check out the city of Austin’s “Flood Pro” tool at http://www.austintexas.gov/FloodPro/ Make sure to select Explore Atlas 14 Changes from the “I want to” menu on that page.

You can also check real-time road closures and flooding at any time by visiting: https://map.texasflood.org/