What’s Happening in Austin Area Real Estate
The Austin real estate market appears to have experienced its summer peak early this year due to the expiration of federal homebuyer tax credits in April. The volume of Austin area home sales in July 2010 was 1,518, down 25 percent … [Read More...]
Which home-related expenses are tax deductible?
Mortgage interest and property tax are well-known deductions. Here are some others: The interest on a home equity loan is fully tax deductible unless the balance on the original mortgage plus the equity loan is greater than the … [Read More...]
How to Assess the Real Cost of a Fixer-Upper House
Article From BuyAndSell.HouseLogic.com By: G. M. Filisko Published: August 24, 2010 When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix. Trying to decide whether to buy a fixer-upper … [Read More...]
What Not To Say To Insurers
The last time you had a fender-bender did the words “I’m sorry” slip out of your mouth? Big mistake, even if you were. That phrase – which might imply that you were at fault – could put your claim at risk. Stick to the … [Read More...]
Our Coverage Areas
Austin TX Real Estate
Austin is truly a city with heart and soul. It brims with both southern tradition and quirky eccentricity. The area is politically charged and culturally rich. A high-tech, big city meets a low-key, college town. A city far from ordinary, it’s the kind of place where you check your worries at the city limits sign,… Read More
Cedar Park TX Real Estate
Located only 17 miles from the heart of downtown Austin, Cedar Park offers all the amenities of a major metropolitan area but is far enough away to offer the relaxed life style that is in keeping with a family oriented community. View just listed Cedar Park TX MLS listings below including pictures, virtual tours, school… Read More
Georgetown TX Real Estate
Georgetown is considered one of the prettiest cities in Williamson County. Located 26 miles north of the state’s capital, Georgetown is a great place to enjoy a walk along the bank of the San Gabriel River or play a round of golf on one of the five local courses. View just listed Georgetown TX MLS… Read More
Lakeway TX Real Estate
Imagine a place where crystal clear streams, towering oak and cedar trees meet the majesty of the hills. The Lakeway area is a little slice of heaven offering breathtaking beauty and a relaxing atmosphere. View just listed Lakeway TX MLS listings below including pictures, virtual tours, school information, days on market, and map locations. Save… Read More
Leander TX Real Estate
An excellent school system, affordable living, progressive government, and an array of recreational opportunities. Leander lies within the heart of Central Texas and at the edge of the Texas Hill Country. Beautiful lakes, rolling hills, and an exceptionally stunning municipal golf course which is surrounded by the hills and nature, including deer and turkey that… Read More
Round Rock TX Real Estate
Only fifteen miles north of Austin in the Central Texas hill country, Round Rock is one of the fastest growing cities in Texas. Renowned for its award-winning master plan, park system and school district, as well as for having some of the lowest crime, property tax and utility rates in Texas, Round Rock is a… Read More
What’s Happening in Austin Area Real Estate
The Austin real estate market appears to have experienced its summer peak early this year due to the expiration of federal homebuyer tax credits in April. The volume of Austin area home sales in July 2010 was 1,518, down 25 percent from the same month in 2009. The median price for July 2010 was $222,000, up 15 percent from July 2009.
In addition, the number of days on market decreased three percent to 73 days for July 2010 when compared to July 2009. So far this year, 11,260 homes have been sold in Austin, a five percent increase compared to the same time period in 2009.
In addition, the median price year-to-date was $194,000, up two percent from 2009, and days on market decreased 12 percent from 2009 to 71 days.
Year-to-Date 2010 Statistics
- $2,843,689,087 – Total dollar volume of single-family properties sold, a nine percent increase from 2009.
- $194,000 – Median price for single-family homes, a two percent increase from 2009.
- 11,260 – Single-family homes sold, a five percent increase from 2009.
- 71 – Days on market, a 12 percent decrease from 2009.
- 10,529 – Active single-family home listings on the market, a nine percent increase from 2009.
- 12,960 – Pending sales for single-family homes, up two percent from 2009.
Enjoy this month’s newsletter!
photo credit Old Photgraphs Archive Spain
Austin TX Real Estate Newsletter September 2010
Which home-related expenses are tax deductible?
Mortgage interest and property tax are well-known deductions. Here are some others:
- The interest on a home equity loan is fully tax deductible unless the balance on the original mortgage plus the equity loan is greater than the property’s value. After that, it’s on a sliding scale.
- If you bought your home after Jan. 1, 2007, mortgage insurance is fully tax deductible if your income is $100,000 or less.
- Mortgage interest and property taxes on a vacation home are deductible. Even an RV as long as it has cooking, sleeping and bathroom facilities.
- If you paid points to get a better interest rate on any of your home loans, you can deduct the points in the year you paid them. If you refinance the home, points are deducted over the life of the mortgage.
- If you changed jobs and had to move more than 50 miles and had to sell a home because of the move, moving expenses are deductible unless reimbursed by an employer.
- If your home has been damaged by a natural disaster such as fire, hurricane or flood, some of the bills for renovating the property that was not covered by insurance can be deducted.
Tax laws are always changing, so be sure to check with your local CPA and tax preparer for the latest updates and more information.
photo credit rockinfree
- How to Assess the Real Cost of a Fixer-Upper House
- What Not To Say To Insurers
- Should You Move or Remodel?
- What should you know about buying a foreclosed home?
- Listing and Selling Your Green Home
- What do I need to look for in a home inspector?
- What Would MacGyver Do? In an Emergency, Reach for the Duct Tape
- Comparing Home Values Using Price Per Square Foot
