A look back at S.A.'s 2008 housing market

The following article from the San Antonio Express News attests to the strength of the San Antonio realty market at the close of 2008.

Visit http://sanantoniohomequest.com to research San Antonio listings.

By Aïssatou Sidimé - Express-News

As the year draws to a close, the San Antonio real estate industry saw home sale trends fall into some pretty familiar categories.
Sales and price appreciation were strong in the Hill Country. First-time and entry-level buyers were most interested in square footage while those spending $200,000 or more wanted plenty of storage, energy efficiency and privacy.
Looking at year-to-date numbers as of November, sellers saw the biggest price gains in Comal and Kendall counties and some areas in San Antonio that traditionally make the hot list, including the area south of Loop 1604 west of U.S. 281 with Deerfield, Hollywood Park and Hill Country Village, according to the San Antonio Board of Realtors.
New to the hot list this year was Southeast San Antonio.
The Smithson Valley and Bulverde areas in Comal County showed the largest increase at 7.2 percent for a median price of $252,800. Kendall County, including Boerne, saw a 0.5 percent median price to $286,000.
Area 6, which includes Deerfield, Hollywood Park and Hill Country Village, saw appreciation of 1.5 percent for a median price of $244,900.
Also tops for price growth was lower southeastern Bexar County around Loop 410 between Interstate 10 and U.S. 281. Area 20 there saw its median price go up 4.6 percent for a median price of $99,100, and area 19 saw its median price go up 3 percent to $79,100.
In other price trends, buyers were most likely to snap up homes priced under $150,000, located conveniently to main thoroughfares and that appeared to offer more space for the money.
Among first-time home buyers, the biggest draw were homes offering more space than comparably priced homes, according to real estate agents.
Scott Caballero, a real estate broker with Caballero and Associates Realty, mostly sold homes in the northwestern area between Marbach Road and Texas 151 to customers that usually were first-time buyers seeking maximum space for young families. Buyers preferred homes with lighter colors and lots of windows.
“They wanted more square footage for the buck. A big open floor plan,” Caballero said. “They like the bright, light and airy interior, which helps the home seem bigger.”
His average sale was $145,000.
For homes in the $200,000 price range, buyers sought energy-efficient features with homes in move-in ready condition, according agent Jackie Galvan of Re/Max Preferred.
“Buyers are being more savvy and looking at items such as programmable thermostats, ceiling fans, low-E windows,” said Galvan, who sold several homes in that price point in Deerfield. “They have to be move-in ready and updated. There were so many homes on the market, (buyers) could be picky. Every room had to be painted in neutral colors; if something was painted in a nursery theme, it could be a turnoff.”
Buyers of higher-end homes tended to balance demands for space with features offering storage and privacy, according to Judy Dalrymple, agent with The Phyllis Browning Co.
She saw the biggest demand for homes on large lots in Bluffview off Bitters Road and U.S. 281, Hill Country Village, Summerglen south of Loop 1604, Shavano Creek, and Elm Creek off Lockhill Selma Road near Wurzbach Road.
Out-of-state buyers sought larger lots in Kendall County.
“We're seeing more and more sales out in Boerne,” Dalrymple said. “It's a little bit less hectic for people who want a quieter place to raise children. When they are coming from D.C. or Maryland, they are used to pretty heavy traffic and think ours is not too bad.”
For local buyers of homes priced between $200,000 and $400,000, Dalrymple's sales were strongest in Deerfield, Oakwood, Rogers Ranch and The Vineyard because of their proximity to key roads.
“They're easily accessible to 1604, (U.S.) 281 and (Interstate) 10,” Dalrymple said. “Inside 1604 is getting pretty popular because of traffic.”
For homes priced above $400,000, buyers were more focused on three-car garages, outdoor kitchens for entertaining and landscaped backyards that evoked secluded oases.
“Privacy is real popular,” she said. “They don't want people looking down at them into their yards.”
Among empty nesters, buyers sought homes that offered easy access to work centers or retirement lifestyles.
Among working empty nesters, the preference was for posh townhomes in downtown locales, Caballero said.
“They want to be closer to work,” he said. “They will downsize furniture but want upscale features, granite and stainless steel. Even though the home is smaller, it is nicer.”
Retirees tended to seek single-story homes in communities catering to active lifestyles, according to Annette Slater, broker for Exit Slater Realtors. She helped several empty nesters buy garden homes in Northern Hills off Thousand Oaks Drive near Nacogdoches. She said the buyers were attracted to the community's golf course and country club.
But even among senior buyers, square footage was a determining factor in a home sale, Slater said.
“Everybody is after price per square foot,” Slater said. “If you can qualify for a $150,000 house and get 3,000 square feet, that's grand. They are going to go for that.”