When the Football Season Ends,San Antonio’s Real Estate Market Heats Up
February 8, 2010 | Leave a Comment
Quote of the Day: “Even if you’re on the right track, you’ll get run over if you just sit there.” - Will Rogers
News Flash: When the Football Season Ends, San Antonio’s Real Estate Market Heats Up
Hey, San Antonio home sellers and buyers, we’ve just passed a significant event that might mean more to you than you realize. While Super Bowl adrenaline ebbed from your bodies, and dopamine satisfaction faded from the brains of Saints fans, San Antonio’s realty market kicked into high gear. It’s a fact borne out by years of sales data! Right after the Super Bowl, San Antonio home buying and selling gets serious.
On this first day after Super Bowl 2010, San Antonio has an ample inventory of resale homes and, according to the latest analysis, an unusually low supply of newly constructed homes. Although the market favors buyers right now, there’s reason to believe it might drift toward a balanced or even a seller’s market as the newest crop of highly motivated buyers rushes to write home purchase contracts before the April 30 Federal home buyer tax credit deadline.
If the Federal home buyer tax credit program is news to you, click here to get the facts from the IRS.
Here’s the message. You’re on the right track if you’re contemplating buying or selling a San Antonio home, but you’d better get moving because you might get run over if you just sit there.
As always, we solicit your comments and recommendations about this blog.
Please visit us at our sanantoniohomequest.com website for all your San Antonio realty research needs.
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, please call us at (210) 863-2661 or (210) 867-8763, or E-mail us at swkrealtor@aol.com or kelleybus@aol.com. Our Realty Solutions Team is always ready to help you with your home buying or selling needs.
4 February 2010 San Antonio Real Estate News You Can Use
February 4, 2010 | Leave a Comment
Some Quick Takes:
- Over 80% of today’s home buyers start their search on the Internet and only seek the services of a real estate agent at the point where they need to supplement what they’ve already learned using Internet realty research tools.
- Today’s best Realtors run a consumer-focused and consumer-driven business, seeing their clients as drivers and themselves as navigators.
- Far too many home buyers have their cart before their horse by starting their home search visiting listings before talking with lenders and determining their home purchase affordability ceiling.
Nifty news to know:
Our February 2010 Real Estate Update has just been published. Go here for lots of exceptionally useful realty information.
As always, we solicit your comments and recommendations about our blogs.
Please visit us at our sanantoniohomequest.com website for all your San Antonio realty research needs.
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, please call us at (210) 863-2661 or (210) 867-8763, or E-mail us at swkrealtor@aol.com or kelleybus@aol.com. Our Realty Solutions Team is always ready to help you with your home buying or selling needs.
Labels: PCS San Antonio, San Antonio Army PCS, San Antonio Physician Loan, San Antonio Real Estate, San Antonio Realty, San Antonio Realty Market Report
February 2010 San Antonio Real Estate Market Report
February 3, 2010 | Leave a Comment
What can we expect from this month’s San Antonio realty market? Typically, February is a very active month for both sellers and buyers. This February, resale home inventory should increase significantly as sellers rush their properties to market hoping the recently extended and expanded Federal home buyer tax credit programs will fuel an exceptionally hot late winter and early spring home buying trend.
Although February is typically one of San Antonio’s most active months for home buyers, three factors promise to make February 2010 an exceptionally busy month. First, the previously mentioned Federal tax credit programs are expected to significantly increase buyer activity. Second, the military’s first wave of Base Realignment and Closing Program personnel will be arriving to look for homes. Third, mortgage interest rates remain historically low for qualified buyers.
Will this February’s increased sales offset San Antonio’s rapidly increasing resale home inventory and thus put an end to the city’s protracted buyers’ market. Only time will tell, but home sellers can take heart in knowing that February will likely bring an unusually large number of ready, willing, and able buyers.
Home buyers and sellers should always be encouraged about the reality of San Antonio realty. It’s strong! Why? Because the Alamo City remains one of the Nation’s healthiest large metropolitan economies and projections for 2010 indicate the area’s immediate future is highly favorable for strong economic growth, low unemployment, and a continuing strong infusion of the monetary and human resources needed to build an even more economically vibrant city.
For data lovers, here are the relevant market indicators for San Antonio single-family detached homes as of 2 February 2010.
There are 11059 active listings compared to 11783 last year. The inventory is rapidly increasing. That’s a good sign for home buyers.
The average sales price for the most recent closings is $180,704 compared to $188,292 last year. The drop in average sales price has, for the most part, been driven by the purchase of a large number of less expensive properties by home buyers capitalizing on the Federal home buyer tax credit programs. It remains to be seen how the market will fare after the program ends on 30 April 2010.
Average cumulative days-on-the-market (CDOM) for the most recent sales is 133 compared to 142 last year. During 2009, CDOM figures were unacceptably high, but have recently trended downward. That’s a positive sign for San Antonio home sellers specifically, and the city’s realty market, generally.
Industry analysts see these data as reflecting a housing market continuing to strongly favor buyers over sellers.
That’s all for our February 2010 San Antonio realty market report. We encourage comments and recommendations about this report.
Please visit us at our sanantoniohomequest.com website for all your San Antonio realty research needs.
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, please call us at (210) 863-2661 or (210) 867-8763, or E-mail us at swkrealtor@aol.com or kelleybus@aol.com. Our Realty Solutions Team is always ready to help you with your home buying or selling needs.
1 February 2010 San Antonio Real Estate News You Can Use
February 1, 2010 | Leave a Comment
San Antonio Express News carries a very informative article by Creighton Welch addressing the status of San Antonio’s mid-winter residential realty market on the eve of the typically much more active late winter/spring home marketing season. Click it to see it.
Click here for this week’s RealtyTimes.com realty and mortgage lending news webcast. This is one of the web’s most comprehensive and informative realty market updates for home buyers and sellers.
Visit us at sanantoniohomequest.com for all your realty needs. We’re Stephanie and Randy Kelley, Realtors at Keller Williams Legacy, San Antonio. You can call us at (210) 863-2661, (210) 867-8743, or (800) 201-9145 or E-mail us at kelleybus@aol.com or swkrealtor@aol.com.
San Antonio’s Most Romantic Restaurants
January 29, 2010 | Leave a Comment
This is a little off topic, but looking ahead to Valentine’s Day on Sunday, 14 February, here’s some information that might come in handy if you’re searching for San Antonio’s most romantic restaurants. Click for the list.
Outside the city, but close enough for a short drive to wonderful downtown Bulverde, is Mike’s in the Village, a bistro and wine bar. Mike’s features some of the San Antonio area’s best food in an intimate, cozy old town setting. It’s a great place for a Valentine’s Day get away. Click to visit Mike’s website.
Back to San Antonio real estate, visit us at sanantoniohomequest.com for all your realty needs. We’re Stephanie and Randy Kelley, Realtors at Keller Williams Legacy, San Antonio. You can call us at (210) 863-2661, (210) 867-8743, or (800) 201-9145 or E-mail us at kelleybus@aol.com or swkrealtor@aol.com.
What’s Happening In San Antonio’s Realty Market?
January 27, 2010 | Leave a Comment
What’s happening in this year’s San Antonio’s mid-winter realty market? It’s relatively active right now and seems to be drifting toward a very active spring season. Typically, that means there will be more homes for sale, list prices will increase, and sales volume will likely be higher than usual especially this year because buyers will be rushing to take advantage of the Federal home buyer tax credit programs. As for the summer realty market season, it’s too early to tell if it will more or less active than usual, but, undoubtedly, activity will be dependent on the success or failure of national economic recovery initiatives.
April 30, 2010 is an important date for home sellers and buyers to keep in mind. Why? Under the new law, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010 to qualify for claiming the Federal home buyer tax credit benefits. Consequently, anyone seriously contemplating selling a home this year should get the property on the market right away, particularly if it’s worth $200,000 or less. That’s a high demand price category for San Antonio homes and, if a home is in good condition, it’s likely to sell quickly.
Anyone wanting to buy a home this year should move fast to avoid missing the 30 April deadline. Of course, before jumping into a purchase agreement, a buyer should consult a Realtor® or visit the tax credit website to make sure he or she qualifies for the credit.
Aside from the home buyer tax credit issue, here’s something about San Antonio’s annual realty market cycle that both home sellers and buyers should keep in mind. Decades of recorded sales data prove conclusively that market activity usually peaks in May, June, or July, then falls off rapidly after August. List prices usually adjust downward during the fall and early winter selling season, available home inventory usually goes down, days on the market will increase, and there will be far fewer monthly closings than during the summer peak season. After a long winter’s rest, the market will start stirring again in February and March.
Realtor® and consumer comments and opinions are, as always, solicited about this, or any article, posted on this blog. We love to discuss and don’t mind a fuss. The more views and news we can solicit, the better.
We’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy. Visit our SanAntonioHomeQuest.com website for anything and everything San Antonio realty. If you have questions, need realty or mortgage loan advice or assistance, or just want to chat, call us at (800) 201-9145, (210) 863-2661, or (210) 867-8743, or E-mail us at kelleybus@aol.com or swkrealtor@aol.com.
22 January 2010 San Antonio Real Estate News You Can Use
January 22, 2010 | Leave a Comment
The San Antonio Business Journal reports “Sitterle Homes has bucked a national trend in the residential real estate market” by “wrapping up a successful sales year in 2009.” Sitterle is one of the San Antonio’s oldest and most highly respected new home builders. Sitterle has been in business over 45 years and is one of the area’s few remaining locally owned and operated residential construction enterprises. Most of the others were acquired in recent years by large national home building corporations. Click to read the article.
The San Antonio Express News carries an interesting article of local and outside job seekers. It reports that “three companies based in the San Antonio area are ranked among the “100 Best Companies to Work For” for 2010 in the Feb. 8 issue of Fortune magazine.” The companies are NuStar Energy L.P. (ranked number 21), the Scooter Store (ranked number 38), and USAA (ranked number 45). This is just another example of recent high ratings received by members of San Antonio’s business community. Click to read the article.
If you have questions or comments about this blog or if you need realty or mortage loan advice or assistance, please contact us.
Here’s how we serve you. If you are a home buyer, our goal is to help you find the best property, in the best neighborhood for the best price and under terms and conditions most favorable to you.
If you’re a home seller, our goal is optimize your selling power by helping you price your property competitively and by promoting it extensively via a broad array of highly effective realty marketing techniques.
We’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio. Call us at (210) 863-2661 or (210) 867-8743 or (800) 201-9145 or send an E-mail to 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.
