The Neighborhood

This newer superb section Westside Preserve neighborhood is one of a kind. Lots of preserved open spaces, walking trails and winding roads set this apart from many other neighborhoods. It is located between Lake-Line Boulevard and Anderson Mill Road. Easy access to route 183, 183A, Lake line Boulevard, Anderson Mill Road, and 1435 FM. Plenty of movie theaters, shoping facilities, restaurants, places of worship, physician and dental offices, Costco, HEB, Home Depot, Randals, Lowes,Walmart, etc nearby. Schools are within easy reach and are of excellent quality. Leander ISD serves the educational need of students from this neighborhood. HOA amenities include pool and play area in a well preserved area.

The Beautiful Cul-de-sac Home

This is a David Weekley designed and built home. It is similar to their model in this development. Built in 2013-2014 and occupied by the same family since 2014. The home is minimally used as can be seen by the minimal wear and tear on the property. This good sized 3,345 sq. ft. home sits on a large 12,800 sq. ft. lot on a no pass through dead end cul-de-sac, one of the few such cul-de-sacs in many neighborhoods. Plenty of land to build your own pool, spa, and or vegetable garden. Plenty of light from all around, plenty of space between homes, just 4 homes on the cul-de-sac. Home is centered on the lot providing ample sunlight on all sides. The home has a large covered patio with high ceiling and a three car garage with 3 car driveway. Yard has fence, gates, and inground sprinklers front and sides. Minimally landscaped to minimize maintenance and limit water use. It faces north-west at 315 degrees and has plenty of south facing roof for solar panels. Has a large tree in the backyard and brances of neighbors tree. Annual Association Fee is about $ 800 and annual real estate taxes are about $ 16,000. Please scroll down to view house and room pictures and features.

If you or anyone in your party is allergic to any type of nuts or spices, please skip this home. Home does not have any child or pet guard devices anywhere, including cabinets, closets, doors, windows, stairs, showers, toilets, tubs, garage, yard, and all other places in and around the house. Yard has cacti, lilies, mums, mushrooms and other plants deemed harmful to some. 24/7 cameras cover all facets of this home and will be on when you tour this home. If you are allergic to high mortgage rates, this home may be for you, click on financing in menu bar for more information.

Bank Financing Points

Seller will provide buyer 2 points on conventional mortgages. An excellent way to reduce your short term mortgage payments and re-finance when traditional mortgage rates decline. Some banks may eliminate refinancing costs when you convert short term mortgages to long term mortgages with them. Check with your local credit unions or savings and loan associations or other banks.

Closing Cost Mitigation

Recent rules prevent listing brokers from advertising on MLS that they will compensate brokers representing buyers. Buyers are confused on their obligation to pay the brokers retained by the buyers. This seller will compensate buyers for reasonable closing costs at time of closing.

Cedar Park TX, Home Availability

On an average about 400 homes are available in Cedar Park Texas for sale.

Out of these:
1. About 350 homes are single family detached homes with their own lots.
2. About 40 of the above single family detached homes with their own lots are located on a cul-de-sac.
3. About 10-12 of the above 40 single family detached homes with their own lots on a cul-de-sac have 0.25 acres or more of land.
4. In summary about 3 percent of available homes in Cedar Park are situated on a cul-de-sac lot with 11,000 sq. ft. or more of land.
5. Real estate is all about location, location and location. With this home you have a good sized home on a rare quarter acre plus lot (12,800 square feet), on a no pass through cul-de-sac, in a great neighborhood - the newer section of Westside Preserve.

Cedar Park has about 12,000 home owners. On an average homes change hands once in about 15-20 years. Generally changes are due to job related relocation, and down-sizing or up-sizing. In normal course of events about 600-800 homes should have been available for purchase, but at present about 400-440 are available. Lower mortgage rates may trigger more moves. The continued net gain of residents from high income tax states also will keep Cedar Park's home demand healthy. Construction costs will continue to rise because of chronic labor shortage in the construction industry and every increasing cost of building material. This may be an excellent time to buy now even though interest rates are high, as replacment cost of a home plus cost of land is far higher than the asking price of many homes.

*EAP -Estimated Asking Price

Estimated Asking Price has been derived by estimating the current cost of construction for this home minus the estimated depreciation, plus the cost of land in this neighborhood. It is not appraised value, to get appraised value please retain a Texas state licensed appraiser.

Present Construction Cost in zip code 78613

The David Weekley built 318 Gaspar Bend home is partly two floors and partly single floored. The single floor section has 18 ft tall ceiling in Living room, Tray ceiling in office and very high pitched ceilings in guest room and dining area. Hardwood floors are in Living, Dining, Kitchen, Office and Foyer areas. Carpets in bedrooms, family room and Media / meditation / yoga room. Bathrooms and Laundry room have tiles. Plenty of cabinets in the Kitchen and Dining areas. Granite on all kitchen and dining room countertops, and a granite platform in Laundry room for pressing clothes. Construction cost for single floor section is about $ 330 per square foot, and for the two floor section is about $ 275 per square foot. The single floor section is about 1,045 square feet and would cost $ 344,850. The two floor section is about 2,300 square feet and would cost $ 632,500. The third garage with the expansion of the width of the driveway to accommodate the 3rd car would cost $ 28,000. The expanded covered porch in the back would cost $ 21,000. Lot cost (size:12,800 sq. ft.) including grading, curb cuts and utility lines would cost about $ 15 per sq. ft. in a development for a total lot cost of $ 192,000. No pass through Cul-de-sac lots carry a premium, today $ 40,000 is a reasonable premium in a development. Real estate is all about location, location and location. This is a great neighborhood, the lot is a large lot allowing for future expansion or addition of private pool, The lot is a true no pass through cul-de-sac lot. So it is a winner on all three location categories. Adding the above gives you the current price if 318 Gaspar was a new home in this development. The Total amounts to $ 1,218,350.

Depreciation Calculations

Roof has a life of about 25 years. Since construction 10 years have passed and the roof value has diminished by 40%. Current roof cost is about $ 50,000, so depreciation is $ 20,000 Heating and Air conditioning systems, Water heaters and kitchen appliance are original except for an air handler that was replaced about 5 years ago, so the entire cost of these has to be depreciated. Kitchen equipment also have to be fully depreciated.

Total depreciation of all equipment plus roof, plus repairs amounts to $ 72,000. Construction cost if new, minus accumulated depreciation on existing property provides an EAP(Estimated Asking Price) of $ 1,146,350. The asking price for 318 Gaspar is $ 1,035,000 and is a lot less than the above derived EAP(Estimated Asking Price) of $ 1,146,350. *EAP(Estimated Asking Price) is not appraised value. To get appraised value please retain a state licensed appraiser.

Disclaimer

This REALTOR^® is not a builder nor has recently been involved in any major construction. Between 1996 and 2013 this REALTOR^® was not a REALTOR^®. Between 1996 and 2002 this REALTOR^® was renovating office spaces. Between 2003 and 2013 this REALTOR^® was renovating homes. Between 2003 and 2013 he has sold homes and condos ranging in price from $ 225,000 to over $ 1,370,000. Construction cost estimated are based on new construction cost by name brand builders of similar homes, not upscale custom built homes or run off the mill homes.

Buyers Agency Contract

Buyers Must Retain A REALTOR^®

The recent settlement due to a class action suit against the National REALTOR^® Association has resulted in implementation of a new rule. Buyers must retain a REALTOR^® before they are shown any home that has been entered on the MLS. The REALTOR^® Buyer Agency agreement must spell out the compensation a buyer will pay the REALTOR^® they retained to show homes. This protects the Buyer from any lawsuit regarding commission disputes. Prior to this lawsuit settlement, the REALTOR^® representing the sellers were sharing their commission with REALTOR^® representing the buyers. This cannot be done anymore.

Buyer Commission Mitigation

Some sellers may mitigate reasonable commissions payable by buyers to their REALTOR^® by directly reimbursing the buyers. Just looking at the home info on any website will not give you an idea as to which seller is mitigating such costs. Only a REALTOR^® with whom you have a Buyers Agency Agreement can help you with this information.