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.
Reduction In Force Looms For San Antonio Air Force Civilian Employees
November 13, 2011 | Leave a Comment
The Department of the Air Force has announced the elimination of 800 civilian jobs in San Antonio. The reduction in force should be completed by November 2012.
It’s part of a 9,000 position nationwide reduction designed to keep manpower costs at FY 2010 levels.
What does it mean for local Air Force civilian employees?
According to Brent Boller of Joint Base San Antonio, the local commands have taken steps to mitigate effects of the drawdown by taking steps to avoid non-voluntary separations. For example, hiring controls are already in force, there’s a 90 day hiring freeze, and eligible employees are being encouraged to avail themselves of voluntary separation and early retirement programs.
Current Air Force civilian employee positions are spread around the area. There are 955 at Fort Sam Houston, 5,220 at Randolph Air Force Base, and 5,942 at Lackland Air Force Base. Positions at all of the bases will be considered for draw down.
How will the reduction in force effect delivery of current services? Officials feel there might be some curtailment of lower priority services, including, but not limited to recreational activities. It’s foreseeable that some services might be contracted out to adjust for the Air Force civilian employee reduction.
Thanks to Mike W. Thomas, reporter at the San Antonio Business Journal, for the information upon which this blog is based.
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.
San Antonio Real Estate Questions And Answers
November 10, 2011 | Leave a Comment
The SanAntonioHomeQuest.com Realty Solutions Team loves to answer questions about buying and selling homes in San Antonio. Here’s the latest one:
Q: How do I get prequalified for a home mortgage loan and what is a good down-payment when buying a home?
A: If you’re just wanting to get an idea about your qualifications, just go to the link below and do the rough calculations for yourself:
http://cgi.money.cnn.com/tools/houseafford/houseafford.html
When you’re seriously ready to purchase, you should visit with a loan officer that you feel trustworthy. Your agent might recommend one or you could ask friends to suggest someone with whom they have had a good experience. You could also visit your personal bank or credit union.
A loan prequalification shouldn’t cost you anything. It’s just a matter of telling the loan officer how much you make and how much you pay out each month. A loan preapproval is another issue. It’s essential when you’re are ready to make an offer. Just be prepared to pay the cost of your loan application and credit check. Prequalification is good enough to get started in most areas, but eventually you’ll reach the point where you can’t proceed without the pre-approval.
The downpayment is variable and is different from your earnest money. How much you choose to put down (along with other things) can affect your mortgage interest rate. If you are VA loan eligible, or qualify for USDA financing, you may get by with no downpayment. A FHA loan requires 3.5 percent down. A conventional loan will vary and can run anywhere from 5% to as much as you can afford to put down. Many people choose 20% down on a conventional loan to avoid private mortgage insurance (PMI).
A good agent and/or a good loan officere will guide you the this maze! Good luck!
If you’re looking for San Antonio homes for sale, visit our world class search engine at
http://www.sanantoniohomequest.com/ext-search-listings.asp
If you have a question about San Antonio living, real estate, mortgage loans, or anything realty - go here - and we’ll get back to you with our answer as soon a possible.
