The life in Wimberley real estate

It’s hard to lose money on Wimberley real estate, says Patti Gibson.

Patti should know. Her company, Gibson Properties, sold more than 250 homes with Wimberley addresses in 2019. The firm, located in the Vineyards Office Park on Ranch Road 12, is celebrating its 10th anniversary next month. It has seen steady growth over the years and has been voted the top real estate agency in The View’s annual reader poll for three years running.

There are a number of factors driving the local real estate market, says Patti.

Wimberley used to be known as a retirement community — no more.

Austin is growing and more and more people are commuting to the big city, but enjoy the small-town atmosphere that Wimberley offers. She has also sold homes to folks who drive back and forth from Wimberley to San Antonio for work.

Wimberley housing is popular with people from Houston who are looking for a weekend get-away and, eventually, a place to retire. “A lot of people from Houston relocate here because they came here when they were kids and have a soft spot for Wimberley,” says Patti.

Out of staters are coming in because the real estate prices here seem like a bargain. “California people are shocked at how much you can get for your money here,” she says.

Combine stunning views and the beautiful river that winds through Wimberley with the small-town feel and a convenient location and you have all the ingredients for a hot real estate market.

Prices rising

Five years ago, the most popular homes were in the $150,000-$200,000 range. Today, those same homes are selling for $300,000 or more.

“The market is pretty hot right now,” Patti explains. “Normally, after Thanksgiving things die off some, but this year it has not slowed down. We were getting calls on Christmas Eve. It was like ‘come on people.’”

Most of the real estate action is in the lower price range, $200,000 to $250,000, but Gibson Properties sold a $3.5 million estate not too long ago. Of the 259 homes Gibson Properties sold last year, 49 went for between $250,000 and $300,000 and 43 were in the $300,000 to $350,000 range. “That’s not waterfront property,” Patti says. “Those are nice homes with a little land around them.”

Homes on the river and with panoramic views, obviously, command premium prices.

“I think we are more affordable than Austin and we are definitely more affordable than Dripping Springs,” Patti says. She notes that the tax rate in Hays County is lower than in many of the nearby counties. The Wimberley school district, which has a top rating and a solid reputation, is also a selling point.

The values of Wimberley homes just keep climbing. Patti puts the average appreciation on a home in the 3-5 percent range. Some years it is far above that. “Out here in Wimberley we seem to be protected from the decreases. The values might flatten out, but they rarely decrease. We’re protected from that,” she says.

After the Memorial Day flood of 2015, a lot of people moved out of town and real estate had a kind of flood stigma. Time has erased that.

Short-term rentals

A lot of Gibson Properties customers are people from Houston who use the homes for vacations, want to retire to Wimberley some day, and rent the houses on a short-term basis to make money in the meantime.

“They have some good things going on in the city to hold owners (of short-term rentals) more accountable,” says Patti. “You can’t depend on tourism and then tell people they can’t stay here. We don’t have any Motel 6s in town and I don’t think we want any, so visitors have to stay someplace. If they stay in San Marcos, then that’s where they are going to spend their money.”

Patti, who has lived in Wimberley for 20 years and has seen her children go through local schools, is a broker. Basically, a broker “sponsors” other Realtors. The modern, tidy office at 13501 RR12 hosts 10 agents. All the agents have lengthy ties to Wimberley and the agency is not a franchise, Patti points out. The company serves all of Hays County, but concentrates in Wimberley and Woodcreek.

All the Realtors that work at Gibson Properties are full-time.

“I’m not the big box,” she points out. “We compete very well with the other offices in town.”

Gibson Properties is getting ready for the busy summer months.

“Any properties out here are a good investment,” says Patti. “We’re a small town and we’re fighting to keep it small. That makes Wimberley a special place to live.” House-selling tips

• Take great photos

• Clean everywhere

• Depersonalize (put away photos, etc.) • Let light in

• Let light in

• Make your home available (evenings, weekends)

• Set the right price

• Remove clutter

• Spread the word

• Repaint in neutral colors

• Spruce up the entrance

Source: U.S. News & World Report