As of Saturday, 6 December 2008, here's what sellers and buyers need to know about the San Antonio area’s residential realty market.
The "for sale" home INVENTORY is HIGH, but slowly and steadily decreasing.
CLOSED SALE PRICES are FALLING SLOWLY & STEADILY.
It's a STRONG BUYER'S MARKET. Reasonably priced and well prepared resale homes are selling well. Home builders are offering enhanced buyer incentives in hopes of clearing out their new home inventories before the New Year. Although it’s a great time to buy a new construction home, it’s always prudent to diligently check out the incentives offered by the builders and particularly the loans offered by the builders’ affiliated lenders. Before signing a sales agreement, a buyer should seek the help of a Realtor ® to verify (1) that the property is reasonably priced and (2) that the lender is offering the most favorable loan, with the best interest rate, for the lowest settlement cost.
ECONOMIC DOWNTURN IMPACT remains MINIMAL. The Mortgage Bankers Association recently identified San Antonio as a top market for home buyers, citing the area's high employment rate, population growth, and better-than-average price appreciation as key factors. (Aïssatou Sidimé, San Antonio Express News, 11/24/08)
AFFORDABLE MORTGAGE AVAILABILITY is VERY HIGH and lenders are aggressively seeking qualified buyers. FHA insured mortgages are particularly popular.
Do you have realty questions? Do you need home buying or selling advice or assistance? Do you need mortgage loan advice? Look to the SanAntonioHomeQuest.com Realty Solutions Team to answer all your realty questions. Our never ending goal is to serve you exceedingly well.
Our team members are Randy & Stephanie Kelley & Tara Kelley-Guariglia, Realtors® at Keller Williams Legacy, telephone toll free (800) 201-9145, or (210) 867-8743 for Stephanie, (210) 863-2661 for Randy, and (210) 792-8726 for Tara.
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