San Antonio Real Estate News

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Here's the latest realty related news from Steven Gragg, Broker at Keller Williams Legacy, San Antonio, Texas.

1. At its Family Reunion Convention last weekend, Keller Williams Realty's corporate management announced that Keller Williams has overtaken all other real estate companies in America as the number one company for total agents.  
2. In the San Antonio MLS area, Keller Williams currently leads all other brokerages for realty sales production.
3. This is an item of interest for readers looking for homes for sale or to sell a home in the south San Antonio area.  A new 1000 acre rail yard is in the works just south of the city.  The Mission Rail Park has just broken ground and should open by mid-summer of this year.  It is located south of Loop 1604 off highway128 & Gillette Rd.
4. According to the San Antonio MLS, home sales are up nearly 24% over January of last year with the median price up 3.3% to $149,000 and average sales price up 4% to $183,000. Average days on the market is 89. Months of inventory is at 5.1 and the market is presently  leaning toward sellers.  The months of available home inventory is expected to increase in coming weeks as spring season listings are added to the MLS and the corporate and military relocation season heats up. 
5. The home foreclosure rate in the San Antonio area is decreasing dramatically.  March postings are down 36.6% over last year.  In the preceding three months , foreclosures were down 41%, 35% and 34%, respectively.
6. "Saudi Texas" is the Lone Star State’s new nickname. Texas has become competitive with the Middle East as oil production in November jumped to an average of 2.139 million barrels a day - the most in over 25 years. The steadily increased production in the Eagle Ford Shale oil play area south of San Antonio has caused caused the state’s output to double.

If you're looking to buy or sell a San Antonio area home, visit sanantoniohomequest.com
 - Keller Williams Legacy for realiable realty advice and assistance and the best MLS listings search engine.

Settlement Provides $287 Million In Texan Mortgage Relief

If you're looking to buy or sell a San Antonio area home, visit sanantoniohomequest.com .

Posted Feb 11, 2012 By the Texas Association Of Realtors®

As part of a settlement between 49 states and five of the nation's largest banks, some struggling Texas homeowners will receive restructured loans with lower mortgage payments. Others who already went through foreclosures may get $2,000 checks.

The $25 billion deal, agreed to by all U.S. states except Oklahoma, stems from inappropriate handling of foreclosures by Ally/GMAC, Bank of America, Citigroup, Jp Morgan Chase, and Wells Fargo. Nine other institutions may become part of the agreement, pushing the national settlement total $5 billion higher.

Many mortgage lenders admitted to inappropriate activities in processing foreclosures, including failing to verify underlying documents, signing documents without reviewing them, and using fictitious names to sign documents.

The settlement prevents states from suing the mortgage lenders for these activities. However, it does not stop individual homeowners from pursuing legal remedies in civil court.

The fact that Texans will receive only about 1% of the total settlement despite the state's large population may be a result of the low foreclosure rate in Texas --- less than half the national average according to Core Logic.

People eligible for the loan modifications or payments will receive letters over the next six to nine months. More information is available at http://www.nationalmortgagesettlement.com/ and from an FAQ by the Texas Attorney General's Office .

April 2011 San Antonio Homes For Sale Report

Despite the recent national economic downturn, San Antonio's realty market hasn't suffered significantly - just slowed.

Now, as our annual Fiesta celebration heralds the typically faster spring and early summer realty sales season, residential listing and sales activity is picking up.

Available home inventory is ample. In most neighborhoods, homes for sale list prices are stable and very comparable to last year's prices.

The indicators all point to the Alamo City's slower market having bottomed out and heading into a much more active phase for many months to come.

Foreclosure activity is moderate. Buyers have been actively seeking out bargains, particularly in the relatively large inventory of lender owned foreclosed properties.

Investor interest is also picking up significantly. San Antonio has always held high potential for diligent realty investors who know what they're doing.

So, why should realty investors consider San Antonio? The answer is evident.

In and around San Antonio, prices for good to excellent properties are generally low compared to other big cities. There is an ample supply of skilled tradesmen for home renovation and refurbishing projects. Materials are readily available and reasonably priced.

On the down side, home owners and rental and resale investors must be willing to accept relatively high property taxes, a low average home price appreciation rate, and, compared to other large cities, a longer than average holding period to make a profit.

All things considered, such down factors are more than offset by San Antonio's consistently stable economic condition, realty market stability, and steady growth.

So, who has the advantage in San Antonio's current realty market?

Industry analysts agree that the data reflect a market strongly favoring buyers over sellers. As for sellers, the advantage goes to the home seller most willing to reduce his or her price expectations and expend the money, time, and effort to improve the property's condition and appearance.

That's all for our April 2011 San Antonio realty market report.

We're Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. If you need San Antonio realty or mortgage loan advice or assistance, or just want to chat, please call us at (210) 863-2661 for Randy, or (210) 867-8763 for 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.

Sunday, November 7 - Turn Your Clocks Back

Friendly Reminder… Time change this weekend, November 7th – clocks turn back 1 hour.

Compliments of:

JAY GILMORE
Senior Loan Officer
W.R. Starkey Mortgage
Office: 210-545-9300
e-Fax: 866-694-0243
Cell: 210-287-2659
jgilmore@wrstarkey.com
http://www.leavejayaloan.com/
NMLS# 232136

When it's time to buy or sell a San Antonio home, call on us.

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 our wonderful Alamo City, please call us at (210) 863-2661 or (210) 867-8743, or E-mail 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.

Don't Forget - Sunday, November 7 - Turn Your Clocks Back

Texas Attorney General Halts Foreclosures

Breaking news - The Texas Attorney General halts foreclosures and sales of foreclosed properties!

This rather astounding development is summarized in the following bulletin from the Texas Association of Realtors Legal Department:

"The Texas Attorney General's office has halted all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties, until mortgage companies have completed a review of their processes, including whether employees or agents "robosigned” affidavits and other documents recorded in Texas."

"The AG suspension notices were sent to 30 mortgage-loan servicers doing business in Texas."

If you want to know more, read Nancy Sarnoff's and Parva Patel's Houston Chronical article reposted in the San Antonio Express News on 20 October 2010.

Call us if you want advice about San Antonio foreclosures.  We're here to help you with all your San Antonio area realty needs.
Click if you're looking for homes for sale.

Click for expert advice about selling your home .

We’re Stephanie and Randy Kelley, Realtors® of 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 or (210) 867-8743, or E-mail 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.

That's the news about Texas Attorney General Halts Foreclosures.