January 2012 San Antonio Air Force Bases Realty Market Report
January 4, 2012 | Leave a Comment
When forecasting housing and other economic trends, it seems no one has a crystal ball. The best the experts can do is look to the present conditions and short term indicators for hints of things to come.
Now, as San Antonio enters the New Year, there are clearly impressive indications that the Alamo City area is likely to see remarkable economic strides - and an interesting housing market - in the coming months.
Who are experts supporting that conclusion?
First, the respected Milliken Institute recently ranked San Antonio as number 1 on its annual list of Best Performing Cities Index. Second, Livability.com ranks San Antonio second among the best 10 places in the Nation for recent college graduates. Third, in an article last July, Forbes Magazine ranked San Antonio as number 4 in its list of the nation’s next boom towns. Fourth, Kiplinger Magazine gives San Antonio high rankings as a “best value city.” The list goes on and on.
Significantly, the last time San Antonio received such high rankings from so many quarters heralded the city’s historic 2006 realty boom. Is it possible that 2012 will see the return of a frantic residential realty market like 2006? It’s possible, but not likely, because the nation’s slowly progressing economic recovery should check what could otherwise be an overheated 2012 San Antonio realty market.
Nevertheless, as pointed out in our preceding Realty Times articles, many favorable factors are converging to make 2012 an exceptional realty year for San Antonio/Bexar County and the surrounding counties and communities. Specifically, the area’s employment rate is high, the population growth is steady, and, compared to other large metropolitan areas, home prices are more reasonable than average. Mortgage rates remain historically low and lenders are aggressively seeking qualified home buyers. The Eagle Ford Shale oil play just south of town is infusing manpower, money, and materiel into the economy and spurring high demand for housing for oil and gas industry workers and their families.
To say the least, there’s ample reason to believe that San Antonio’s 2012 realty market will be much more active than in any year since 2006.
For data lovers, here’s the picture in and around San Antonio as of 2 January 2012:
Reasonably priced and well prepared resale homes are selling exceptionally well and new home builders are responding to better conditions by bringing more new homes into production.
There are 9, 598 homes listed for sale compared to 10,984 one year ago. The inventory is exceptionally low but will likely trend steadily upward as New Year listings are brought to market. For the time being, the market has drifted into the 6 months supply range, reflecting a balanced market (a condition not seen in San Antonio for many years). A balanced market favors neither buyers nor sellers.
The average sales price for the most recent closings is $181,030 compared to last year’s $190,656. Sales prices are rising - a trend likely to continue through the higher paced late winter/spring and summer home selling seasons. That’s a good sign for sellers.
Average cumulative-days-on-the-market (CDOM) for the most recent sales is 149 compared to 144 last year. A continuing downward trend is expected. That’s a positive sign for home sellers and the San Antonio realty market generally.
Industry analysts see these data as reflecting a housing market slightly favoring seller’s over buyers.
That’s all for our January 2012 San Antonio realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.
Wishing you and yours a Happy New, we’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat a bit about the wonderful Alamo City, and areas surrounding our Air Force bases and other military installations, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie), or email us at swkrealtor@aol.com or kelleybus@aol.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always eager to help you with your San Antonio military base area realty needs.
Best Search For San Antonio Area Homes For Sale
December 27, 2011 | Leave a Comment
If you’re looking to buy or sell a San Antonio area home, please visit Randy and Stephanie Kelley’s sanantoniohomequest.com website for the essential advice and assistance you’ll need, including access to our world class realty search engine. Now, speaking of realty search venues, here’s something you might consider.
If you’re spending a lot of time surfing the Internet looking for San Antonio area listings be aware that all of the Internet search venues, including the one at SanAntonioHomeQuest.com, aren’t in real time sync with the local Multiple Listing Service (MLS) because they all rely on periodic MLS uploads to stay current. In fact, some of the popular venues are many hours out-of-date.
Consequently, a direct San Antonio MLS search is far superior for detail and timeliness.
Even if you’re making an Air Force PCS to San Antonio next summer or fall, it’s not too early to start receiving detailed MLS listing reports matching your needs and coming to you directly from the San Antonio Multiple Listing Service.
The MLS search engine lets you save promising listings for future reference, and, by the time you arrive for your on-site housing hunt, you’ll be well primed with information about neighborhoods, home styles, builders (yes, you’ll also get occasional listings for new construction homes) and will have a nice list of promising homes to see right away.
There’s one caveat to keep in mind.
Only a Realtor® member of the local MLS can set up a dedicated search for you. So, if you want an ongoing automated MLS search set up in your name, you must call or send an email request to a San Antonio real estate professional of your choice.
Be sure to describe your ideal home in detail because the MLS search is highly flexible and can be exceptionally specific in terms of your home ownership wants and needs. Ask for your search to be set up as soon as possible.
Be prepared to hear back and expect the Realtor® to explain how he or she can serve your consumer interests as your buyer agent. That’s cool, because the majority of home buyers in the San Antonio area are represented by buyer agents and someday you’ll have to decide which agent will best represent you.
The SanAntonioHomeQuest.com Realty Solutions Team will set up a free direct San Antonio MLS search for you without any obligation on your part.
Just describe your ideal home in an email to kelleybus@aol.com or swkrealtor@aol.com or call Randy at (210) 863-2661 or Stephanie at (210) 867-8743.
San Antonio Air Force Home Buyers And Sellers See Changes Coming
December 18, 2011 | Leave a Comment
Air Force families facing reassignment to or from the San Antonio area in 2012 should take note of this recent development that’s likely to reflect conditions affecting the local residential realty market in coming months.
Comparing economic growth and prosperity for 200 large metropolitan areas, the Milliken Institute has ranked San Antonio as number 1 on its Index of Best Performing Cities for 2011.
The Milliken Institute is an economic think tank whose mission is to improve the lives and economic conditions of people in the United States and around the world.
San Antonio was previously 13 places below other large U.S. cities, but, this year, after considering San Antonio’s strong performace in the areas of job availability, wages, and technological advancement, the Institute moved San Antonio to the top position.
Contributing factors were economic boosts realized from the area’s Military Base Realignment and Closing projects (about $3.8 billion in facility construction) and the financial impact of the Eagle Ford Shale oil and gas boom underway just south of the city.
How do those conditions impact on area military home buyers and sellers?
The new year is likely to see an unusually active realty market, shifting gradually from the current weak buyer’s market to a balanced market favoring neither buyer’s or sellers and seeing a significant reduction in the inventory of available homes and corresponding price increases for both resale and new construction homes.
This blog is brought to you by SanAntonioHomeQuest.com. The members of our Realty Solutions Team are professional residential realty analysts and negotiators dedicated to helping our clients get the best price, terms, and conditions for their real estate investment. Please call on us when need advice about the best way to go about buying or selling a San Antonio home.
Contact Randy Kelley at (210) 863-2661 - kelleybus@aol.com - or Stephanie Kelley at (210) 867-8743 - swkrealtor@aol.com .
Bulverde, Randolph Air Force Base And Fort Sam Houston Living
December 17, 2011 | Leave a Comment
If you’re looking to buy or sell a San Antonio area home, please visit Randy and Stephanie Kelley’s website for all the advice and assistance you’ll need, including access to our world class realty search engine. You can find us at sanantoniohomequest.com.
Now, for the weekend of 18 and 19 December, 2011, here’s a message from Mike’s In The Village, our favorite Bulverde, Randolph Air Force Base, and Fort Sam Houston area restaurant:
| Dear Friends,This weekend, try our Roasted Poblano Bisque to start, and then enjoy the Prosciutto & Spinach Stuffed Veal Chop with Pinot Noir pan Jus, the Pan Seared Duck Breast with Raspberry Chipotle Demi or the White Wine Braised Osso Bucco over Creamy Polenta with Gremalatta.This Saturday, join us on the back porch for live jazz music performed by Phil Grota.
Begin your New Year’s celebration with dinner at Mike’s! We will be serving our regular menu along with some delicious specials from 5 p.m. until 9 p.m. Reservations are suggested, so make yours now by clicking here or calling 830.438.2747. Mike’s In The Village restaurant and Chef Mike’s Nouvelle Catering are the perfect choice for your holiday catering needs. Click here for sample menu ideas or call us today for an estimate at Bon Appétit, PS- We will be closed Saturday, December 24-Tuesday, December 27th for the Christmas holidays.
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| This message was sent to kelleybus@aol.com from:Mike’s in the Village | 2355-3 Bulverde Rd | Bulverde, TX 78163 | Email Marketing by  |
| Manage Your Subscription | Forward To a Friend |
New FHA Loan Limits For San Antonio Announced
December 13, 2011 | 1 Comment
If you’re looking to buy or sell a San Antonio area home, please visit Randy and Stephanie Kelley’s website for all the advice and assistance you’ll need, including access to our world class realty search engine. You can find us at sanantoniohomequest.com.
Now here’s today’s AirForcePCS.com blog article, based on a recent notice from J.P. Watkins, loan officer at SWBC Mortgage Corporation, San Antonio.
J. P. writes that there’s great news for San Antonio area home buyers regarding an increase in FHA loan limits. The result is that borrowers can once again qualify to buy a higher priced home because the FHA loan limits are higher.
The limits were announced In Mortgagee Letter 2011-39. You can look up the new limits for the San Antonio area and other areas throughout the country by visiting https://entp.hud.gov/idapp/html/hicostlook.cfm.
The site shows the following limits for home in Bexar County/San Antonio, as of 30 November 2011:
One-Family Home $332,500
Two-Family Home $425,650
Three-Family Home $514,500
Four-Family-Home $639, 400
For more information, please contact JP Watkins Loan Officer, NMLS#220598 at SWBC Mortgage Corporation, 9311 San Pedro, Ste 100, San Antonio, TX 78216 Ph. 210.581.1533 Fx. 210-581-1633 Cell 210.837.3006 Website: www.swbcmortgage.com/watkins
December 2011 San Antonio Real Estate Market Conditions
December 7, 2011 | Leave a Comment
San Antonio residential real estate is exceptionally active this holiday season!
Early December is typically the low season for realty activity in and around the Alamo city, but this year it’s remarkably different.
Many factors are contributing to the unusually active market.
First, because of the area’s high employment rate, population growth, and better than average home prices, San Antonio has recently been rated as one of the top market 10 markets for both home buyers and sellers.
Second, mortgage rates remain historically low and lenders are aggressively seeking qualified home buyers.
Third, there are positive signs suggesting the national economy is experiencing a slow, but relatively steady recovery. That factor alone is bringing more buyers than usual into the market this December.
Forth, the nearby Eagle Ford Shale oil play is spurring housing demand for oil and gas production workers and their families.
Consequently, reasonably priced and well prepared resale homes are selling exceptionally well and new home builders are responding to better conditions by bringing more new homes into production.
For those who love stats, here are the key indicators for San Antonio’s single family detached home listings as of 7 December 2011.
There are 10,401 homes for sale compared to 11,694 one year ago. The inventory is exceptionally low and is trending steadily downward. The market has drifted into the 6 months supply range, reflecting a balanced market (a conditiion not seen in San Antonio for many years). A balanced market favors neither buyers or sellers.
The average sales price for the most recent closings is $176,003 compared to last year’s $193,701. That’s an unreliable indicator because the large number of lower priced properties sold in 2009 & 2010 under the Federal tax incentive programs temporarily depleted the lower priced home market. An analysis of longer term data indicates the absence of any significant sales price appreciation since 2007. That’s a good sign for buyers.
Average cumulative-days-on-the-market (CDOM) for the most recent sales is 139 compared to 144 last year. A continuing downward trend is expected. That’s a positive sign for home sellers and the San Antonio realty market generally.
Industry analysts see these data as reflecting a housing market slightly favoring seller’s over buyers.
That’s all for our December, 2011, San Antonio realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful. Wishing you a merry Christmas and Happy New, we’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat a bit about the wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie), or email us at - swkrealtor@aol.com - or -kelleybus@aol.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.
US 281 Loop 1604 Interchange Update
November 22, 2011 | Leave a Comment
The US 281/Loop 1604 interchange construction project is well into its eighth month. Long awaited and sorely needed, the completed interchange is projected to relieve the chronically congested traffic conditions at one of the Alamo City’s most heavily travelled intersections.
The project is truly a ”pardon our improvements” situation. Motorists have cause to be aggrevated by the rerouting of area access roads, periodic traffic stoppages, delays incident to movement of materials and heavy construction equipment, and the much lower and slower construction zone speed limit. Everyone wants to know what’s happening now, what’s next, and when will it all end.
Leroy D. Alloway, the Alamo Regional Mobility Authority’s Director of Community Development, wants you to know that the Authority has developed a number of ways to keep citizens up-to-date and in tune with the project. Here they are:
Visit www.AlamoRMA.org for daily closure announcements.
Go to www.facebook.com/AlamoRMA .
Go to www.twitter.com/AlamoRMA .
Get instant telephonic text messages by texting “follow AlamoRMA” to 40404.
This blog is brought to you by the sanantoniohomequest.com Realty Solutions Team. If you’re looking for a San Antonio homes for sale, visit our world class search engine at
http://www.sanantoniohomequest.com/ext-search-listings.asp
If you have questions about San Antonio living, real estate, mortgage loans, or anything realty, call Randy Kelley at (210) 863-2661 or Stephanie Kelley at (210) 867-8743 or - go here -and we’ll get back to you with our answer as soon as we can.
