26 February 2010 San Antonio Realty Market Report

Quote of the Day: "A house is made of walls and beams; a home is built with love and dreams." ~ Unknown

San Antonio Real Estate Fact of the Day:  The 2009 property tax rate for the San Antonio, TX, North East Independent School District (NEISD) area was 2.731%. Consequently, in 2009, property tax on a $100,000 NEISD area home was $2,731.

Today's Realty News You Can Use: 

RealtyTimes is a great source for real estate current events.  Click here for this week's webcast.

San Antonio Express News reporter Jennifer Hiller is our favorite source for local realty news.  Her most recent article addresses San Antonio's initiatives to become a more energy efficient city.  Click here to read her brief, but highly informative article.

What's happening in San Antonio's homes for sale market today:

Today's stats continue to reflect the strong trend toward a highly active buyers' market for the Alamo City.

Single Family Detached Homes Listed For Sale Today: 11421 Inventory Increasing Rapidly

Single Family Detached Homes Listings Under Contract: 1738  - Increasing Rapidly

Median List Price: $175,000  - Stable

Average List Price: $266,849  - Slowly Drifting Down

Projected Average Sales Price For Listings Under Contract: $167,722 Slowly Drifting Down

San Antonio's Wonderous Weather:

It's a beautiful day in our neighborhoods.  It's partly cloudy with a coolish breeze and 57 degrees at 10:00 A.M.,  The forecasted high is 66 degrees and the forecasted low is 39 degrees.  We're standing at the door to a wonderful San Antonio outdoor weekend.  See you at the River Walk.

That's all for today's blog.

We love to hear what you think about our blogs. Your opinions, pro and/or con, recommendations, commendations, and condemnations (please be kind) are eagerly solicited.

Please visit 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 San Antonio area home buying or selling needs.

25 February 2010 San Antonio Real Estate Market Report

25 February 2010 San Antonio Real Estate Market Report


Quote of the Day: "Good homes are still the best source of good humans."
--Neal A. Maxwell (1926-2004)

San Antonio Real Estate Fact of the Day:  San Antonio is the Nation's 7th largest city.

Today's Realty News:  Three new San Antonio real estate websites were launched today for Army, Navy, Air Force, and other Uniformed Service home buyers and sellers.

Visit them at:   SanAntonioArmyPCS.com
                       SanAntonioAirForcePCS.com
                       SanAntonioNavyPCS.com

Basic allowance for housing (BAH) information is available on each site.

What's happening in San Antonio's homes for sale market.

Today's stats are continue to display a strong trend toward a highly active buyers' market for the Alamo City.

Single Family Detached Homes Listed For Sale Today: 11429 Inventory Increasing Rapidly

Single Family Detached Homes Listings Under Contract: 1735 Increasing Rapidly

Median List Price: $175,000 Stable

Average List Price: $266,467 Slowly Drifting Down

Projected Average Sales Price For Listings Under Contract: $165,606 Slowly Drifting Down

San Antonio's Wonderous Weather:

This week, San Antonio's weather has ranged from a rare light snow flurry on Tuesday, to a heavy frost this morning, to a comfortable 66 degrees at 4:30 in this afternoon.  The thermometer is tired from jumping up and down, but can rest a bit for the next seven days, with highs in the 60's and lows between 40 and 50.  Pastures have become lush with new growth and there's a hint of light green buds in some trees around the city.  The air smells sweet with spring scents.

That's all for today's blog.

We love to hear what you think about our blogs. Your opinions, pro and/or con, recommendations, commendations, and condemnations (please be kind) are eagerly solicited.

Please visit 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 San Antonio area home buying or selling needs.

16 February 2010 San Antonio Real Estate Market Report

Quote of the Day: A word to the wise ain't necessary - it's the stupid ones that need the advice. ~ Bill Cosby

Fact of the Day:  Approximately 50% of the population of the US is nearsighted.

Today's Realty News:  Jennifer Hiller is San Antonio's most prolific realty reporter.  Her excellent article in today's San Antonio Express News recaps this January's lackluster home sales start.  Click here to read the article.  Keep in mind that the article reflects San Antonio realty reality in that the local home sales market is relatively asleep in January, but usually wakes up active and hungry in mid-February. The following February stats are already showing a trend toward a highly active late winter/early spring buyers' market for the Alamo City. 

Single Family Detached Homes Listed For Sale Today:        11292 Inventory Increasing Rapidly
Single Family Detached Homes Listings Under Contract:       1585 Increasing Rapidly
Median List Price:                                                                 $175,000 Stable
Average List Price:                                                                $269,656 Stable
Projected Sales Price For Listings Under Contract:            $167,267 Decreasing Slowly

San Antonio's Wonderous Weather: 

After an exceptionally cold start (27.7 degrees in our back yard with ice in the bird bath), the air's warming quickly and the temp's heading for the low 60's this afternoon.  Warm, bright and clear - spring's near!

That's all for today's blog.

We love to hear what you think about our blogs. Your opinions, pro and/or con, recommendations, commendations, and condemnations (please be kind) are eagerly solicited.

Please visit 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 San Antonio area home buying or selling needs.

14 February 2010 San Antonio Real Estate News You Can Use

Happy Valentines Day, dear Readers!

Quote of the Day:  Gravitation is not responsible for people falling in love. ~ Albert Einstein

Fact of the Day:  Some 190 million Valentines are exchanged each year, according to the Greeting Card Association.
 
Today's Realty News:

In an excellent article in the San Antonio Express News, Jennifer Hiller writes about the recent rise in Bexar County/San Antonio residential property foreclosures.  Click here to read the article.

San Antonio Today:

It's a beautifully warm day in San Antonio.  If you're in the Alamo City, here's hoping you can get out and enjoy the sunshine.  If you're some place where it's cold and wet, here's hoping you're blessed with a warm house, an ample hot chocolate supply or a big box of Valentine candy, and someone to hug.

That's all for this blog.

We love to hear what you think about our blogs. Your opinions, pro and/or con, recommendations, commendations, and condemnations (please be kind)  are eagerly solicited.

Please visit 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 San Antonio area home buying or selling needs.

San Antonio Resident Doctors 100% Mortgage Loans

San Antonio Resident Doctors 100% Mortgage Loans


There’s a new 100% home mortgage program available for San Antonio resident doctors.

After the Bank of America Physician Loan Program was suspended in March, 2009, it became virtually impossible for San Antonio area physicians to obtain 100% home mortgage loan financing. Now, there’s good news! A new program has just opened up that’s specifically designed to help qualified physicians, including medical students and residents, acquire a San Antonio area home.

The program offers:

• 100% financing - no money down
• no private mortgage insurance (PMI)
• lower monthly payments
• thousands saved over the life of the loan
• more home for income

Easy qualification and special underwriting for physicians with good credit allows:

• student loans deferred for months are NOT counted in qualifying ratios
• purchase before starting a new position
• qualifying using future income
• purchase of ingle family homes, town homes, lofts, and condos

It’s a great opportunity for members of San Antonio’s medical community. For more information, contact us.

We’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio. If you have questions, need San Antonio area realty or mortgage advice or assistance, or just want to chat, please call us at (210) 863-2661 or 867-8743, 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.

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10 February 2010 San Antonio Real Estate News You Can Use

Quote Of the Day:  "Rumor travels faster, but it don't stay put as long as truth."  - Will Rogers

San Antonio Happenings: 

Chocolate Day - Saturday, February 13 at the San Antonio Botanical Garden. Chocolate fans of any age, this is for you! We're celebrating our annual Chocolate Day on Saturday, February 13 with special chocolate "flavored" activities from 10 am - 2 pm. Have some coco-licious fun while learning a thing or two about one of the most cherished sweets of all time!  Click here for info.

San Antonio Stock Show and Rodeo - February 4 - 21.  Click here for info.

Realty News, Views, & Opinions: 

If you're closely following San Antonio's realty market, you've no doubt noted a fairly consistent news, views, and opinions trend.  Just about everybody who should know is predicting an exceptionally lively late winter and early spring Alamo City area residential sales season.  Are they right on or just piling on unfounded marketing hype? 

Of course, since it hasn't happened yet, the success of this year's early high season market remains to be seen.  That said, there are an exceptional number of positive indicators in play right now.  Briefly, they are:

• Two home purchase Federal tax credits - the extended up to $8000 credit for first time home buyers and the new $6500 credit for move up home buyers - will likely have significant impact on closed sales through June.
• Mortgage interest rates remain at close to record lows.
• FHA mortgage loan seekers will be rushing to purchase their homes before FHA loans become more expensive and harder to acquire due to new FHA lending policies scheduled to take effect in the spring or early summer.  Click here for a nice USA Today article explaining the new rules.
• The Base Realignment and Closing Program will reward Military City USA with a larger than usual influx of military members and their families seeking good places to live. 
• San Antonio's home prices are exceptionally stable and affordable.
• San Antonio's economy is growing.
• Recently, San Antonio has been recognized by many reliable economists as one of the Nation's inflation proof cities.

So, what's to be believed?  Although San Antonio's late winter and early spring realty market has yet to be proven, considering the positive indicators, it's highly likely to be a boomer!

We love to hear what you think about our blogs.  Your opinions, pro and con, recommendations, and commendations are eagerly solicited.

Please visit 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 San Antonio area home buying or selling needs.

When the Football Season Ends, San Antonio's Real Estate Market Heats Up

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

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.

2 February 2010 San Antonio Realty News You Can Use

What can we expect from this month's San Antonio's realty market.  Historically, February is typically 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 cause an exceptionally strong  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 thus putting 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

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's 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.