In the local real estate landscape, E-Lit Realty has emerged as a full-service firm dedicated to serving clients from various socioeconomic backgrounds.
In 2016, at the age of 21, Karina Muñoz wanted to buy a home but wasn’t quite sure how she would afford it. She had the good fortune of knowing E-Lit CEO and Founder Julie Galarraga, who encouraged her to buy rather than rent.
“She walked me through the whole process,” Muñoz said. “I was buying the house with my brother, but we didn’t have money to put down. Julie found different programs for buyers like us through various lenders and helped us negotiate the deal. That was my first real estate investment. I now have four.”
In a city where the real estate market is continually evolving, E-Lit Realty stands out by prioritizing client education.
“Our goal is to empower our clients through excellent education,” Galarraga said. “Through these three concepts, we are able to guide our clients from their initial home purchase to subsequent real estate investments. That’s what the E in E-Lit stands for: empower, excellence and education.”
The firm offers tailored guidance, recognizing that each client's journey is unique. For first-time homebuyers, E-Lit Realty provides resources to help them navigate the complexities of purchasing a home. For those looking to invest in a second home or even for seasoned investors, it offers insights into lucrative opportunities within Austin's thriving real estate sector.
Shortly after purchasing her first home, Muñoz got married. She and her husband, Daniel, have made three more real estate investments, including their most recently purchased dream home near Elgin.
“We always wanted a ranch with a lot of animals, especially horses,” the now 32-year-old Karina said. “When I came across the listing for 10 acres with a beautiful home and a barn and arena for horses for close to a million dollars, I immediately called Julie and asked, ‘Can we do this?’ She said yes instantly, and she never gave up on making our dream a reality.”
Over the past decade, Austin's real estate market has significantly transformed. The city has seen a 35.5% increase in housing stock after COVID-19, leading the nation, according to the New York Post. However, financial lending institutes rarely advertise programs that can help those who don’t have a lot of money or lack a down payment.
“Most people don’t realize that there are all sorts of programs to help them out when it comes to buying real estate,” Galarraga said. “There are several lenders who will work with buyers with bad credit and no money down. It’s just a matter of teaching them about the process and who to speak to.”
Investing in Austin's real estate has become increasingly attractive. Housing affordability in Austin improved significantly in 2024, Barron’s, a subsidiary of the Wall Street Journal, reported in January.
“There might have been a recent slump in sales, but with Tesla coming in and buying more land to expand and other companies like Apple and Meta being here, I’m confident we will see an uptick in home sales,” Galarraga said. “There’s even a big movie production company that’s building a place near Bastrop. That means more real estate investing is going to happen.”
E-Lit’s services don’t stop once all the paperwork is signed and closed, either. The team also educates new homeowners about the different types of exemptions for which they qualify.
“Most homeowners are aware of the homestead exemption,” she said. “But there are several other exemptions that most don’t know about – most notably the solar energy exemption and over-65 exemption. There are several ways for homeowners to save even more money after they buy a home.”
The benefits from various property tax exemptions are designed to alleviate financial burdens. The homestead exemption reduces the taxable value of a primary residence, offering significant savings. For those who have installed solar panels, the solar energy exemption allows homeowners to exclude the appraised value of their solar energy devices from property taxes. Residents age 65 and older may qualify for the over-65 exemption, which provides further reductions in taxable value.
E-Lit Realty integrates this knowledge into its comprehensive educational approach to ensure clients are well-informed about these exemptions and how to maximize the financial benefits of real estate investing.
“None of what we have would be possible without the help of Julie and the E-Lit team,” Muñoz said. “They never gave up on any of the deals, even when we wanted to, and they worked hard to make it all happen. We might even get to retire early.”
“Our goal is to empower our clients through excellent education.”
“That’s what the E in E-Lit stands for: empower, excellence and education.”