Neighborhood Information for Austin, TX 78757

Inventory

• Number of Homes: 10,487
• Active Listings: 91
• Distressed Listings (Foreclosures & Short Sales): 1.3%

Home Ownership

• Owned: 47.78%
• Rent: 45.65%
• Vacant: 6.57%

Demographics

• Median Age: 35
• 35% Married
• Homes with Children: 2405

Household Income Levels

Highest Education Level Attained

Data from Market Insider; deemed reliable but not guaranteed.

Kyle Pfaffe, REALTOR®
Keller Williams Realty
m: 512-636-9707
w: AustinHomes4You.com
I Always Have Time for Your Referrals!

Top Notch Burger in Crestview: Austin, TX (78757)

I visited Top Notch in Crestview, Austin, TX (78757) for the first time after wanting to go for a while. I love charcoal grilled burgers so I had try this restaurant. I ordered the regular cheeseburger with fries and it was good with the unmistakable charcoal taste I was looking for. Next time, I'll have to get their "Longhorn Special"! An Austin original and Crestview mainstay for over 40 years - try it yourself!

Kyle Pfaffe, REALTOR®

Keller Williams Realty

m: 512-636-9707

e: KylePfaffe@KW.com

w: AustinHomes4You.com

Brentwood Park with the Kids!

I took the kids to Brentwood Park in the Crestview/Brentwood area (78757) in Austin, TX. Perfect weather and lots of fun!

Kyle Pfaffe, REALTOR®

Keller Williams Realty

m: 512-636-9707

e: KylePfaffe@KW.com

w: AustinHomes4You.com

Crestview Real Estate Market Report, 2002-2011

Crestview Market Report (78757)

Real estate in the Crestview neighborhood of Austin, TX (within 78757), has seen phenomenal growth and changes in the last 10 years. Looking at only homes, condos and townhomes in Crestview, there were numerous changes in significant real estate metrics, including units sold, average and median sales prices, average and median prices per sqft., days on the market (DOM) and the average percent for sold-to-list price. Please call or email me for information on your particular home or on opportunities to buy or sell property in Crestview.
Sales Prices
In 2002, the the average sales price in Crestview was $159,702. At the Austin real estate market’s peak in 2006, when the most units were sold, the average price was $220,506. While total units sold dropped to only 122 in 2008, the average price still climbed to $263,876, a 65% increase vs. 2002! There has been some contraction since 2008, but prices have recently rebounded to be only -3% down from the peak, still +62%!
 
Units Sold & Days on Market
Number of units sold increased from 173 in 2002 to 246  in 2006, but then dropped sharply to only 122 in 2008. The average Crestview home sold in only 35 days in 2006, but that period grew to 63 days in 2010. The DOM remained constant in 2011 despite the +35% increase in units sold from 2010 to 2011.
Price Per Sqft. & Average Sold/List Price Percentage
The average price per sqft. grew from $142.69 in 2002 to $188.54 last year, a +32% increase. At its highest point in 2008, the avg. price per sqft. was $207.35. In 2011, the average sale price was only 96.45% of list price vs. 97.69% in 2002. The only time it was lower was in 2010 at 95.15%.
*Data Source: Austin MLS, 3/2/2012;  information is believed to be accurate but not guaranteed.
Kyle Pfaffe, REALTOR®
Keller Williams Realty
m: 512-636-9707
e: KylePfaffe@KW.com
w: AustinHomes4You.com

Understanding Tax Deductions for Rental Properties

Under the current economic distress, many U.S. households again see the benefit of renting versus home ownership. Others, unfortunately, have been forced to surrender their homes to financial institutions that hold their mortgages and return to their former status as contented tenants.


These challenges can represent opportunities for investors in residential rental properties. Tax laws favor investors in these properties who can often benefit from tax deductible losses, while maintaining positive cash flows on their properties.


In order to avoid jeopardizing these write-offs under the scrutiny of an Internal Revenue Service audit, it is good to know what an agent will be looking for. The IRS does not hide this information. Numerous audit technique guides are available not only to IRS personnel; they are published on the IRS website for public use. Of interest to investors in residential rental real estate is the Passive Activity Loss Audit Technique Guide. It offers guidance to agents as they consider the appropriateness of loss deductions, the calculation of gains or losses on disposition of investment property, and low-income housing credits, among other chapters.


This Guide may be found at http://www.irs.gov/pub/irs-mssp/pal.pdf.


Prepared by Corey A. Pfaffe, CPA, LLC
www.MinistryCPA.org


IRS Circular 230 Disclosure: To comply with IRS rules, I am required to advise you that, unless expressly stated otherwise, any federal tax advice contained in this communication, including attachments, is not intended or written to be used, and cannot be used, by the recipient for the purpose of (i) avoiding penalties that may be imposed under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.


September 23, 2011


Kyle Pfaffe, REALTOR®

Keller Williams Realty

m: 512-636-9707

w: AustinHomes4You.com

I Always Have Time for Your Referrals!

Three Things to Know Before You Break Your Lease

Three Things to Know Before You Break Your Lease 

Unfortunately, life does not always work out as planned. If it did, I would already be semi-retired, sitting on the porch overlooking Lake Travis, proofreading this post that my assistant had just finished writing up for me. In the housing world, sometimes we make plans to live in a particular place for a particular amount of time and something comes up that forces to make a change...and we have to break our lease. This is not a decision to be taken lightly. Here are three things to know before you make that decision.

1. In short, your lease is a legally binding contract, promising that you will regularly pay rent to live in a certain place for a certain amount of time. There are legal and financial ramifications for breaking this contract. Within your lease agreement, you will find the specific details and consequences that occur when you make this decision. You are breaking your word that you would fulfill the terms of you agreement and you should take that very seriously.*

2. Breaking your lease will likely have a negative impact on your credit score and your credit report. Unless you pay up front for all the financial penalties for breaking your lease, that information will go on your credit report. As you well know, all delinquent and negative items on your credit report have a direct impact on the financial terms you are able to get or your ability to get approved for future credit applications. This information will be visible to anyone who will run your credit the next time you apply for credit of any sort.

3. Breaking your lease will also negatively affect your ability to be approved for a lease in the future. As part of your application process, along with your credit report, property management will check your rental history, and will likely find documentation on your previous broken lease. Unfortunately for someone in this situation, many properties will not approve an application for someone who has a previous broken lease, regardless of the circumstances. In fact, some property management companies look more favorably on an eviction on your record than an a broken lease. Some property management companies will approve an applicant with a broken lease on his or her record with a few possible stipulations. Those stipulations include, but are not limited to, and larger deposit or proof of positive rental history since the broken lease.

A broken lease is not something to be taken lightly. You should be careful before you sign a lease and understand that your lease is a legally binding contract. Be very cautious before you break a lease and understand the possible ramifications of doing so. That being said, a broken lease is not the “end of the world.” You do have options of places, albeit limited, to live if you do break a lease. If you have questions about breaking a lease or have had a broken lease in the past and need house help, please contact me and I would be happy to help however I can.


*I am not a lawyer and cannot offer you legal advice so please consult a lawyer for advice on your particular situation.


Kyle Pfaffe, REALTOR®

Keller Williams Realty

m: 512-636-9707

w: AustinHomes4You.com

I Always Have Time for Your Referrals!