March 2014 San Antonio Home Sales Report

If you're considering buying or selling a San Antonio metropolitan area home this year, keep this in mind.

In March 2014, there are too few new and resale homes on the market and there are too many buyers looking for a home to buy.  Consequently, competition for available homes is keen, home prices are rising, and home sellers have the advantage over buyers when it comes to negotiating the price, terms, and conditions for selling their homes.

But, there are changes in the wind.

Although, for the time being, the market favors sellers over buyers, there are signs that there is a correction underway.

Why?

A major factor is the fact that more San Antonio area residents feel they can afford to sell their homes because, due to rapidly rising home values, home owners are now in a positive equity situation (meaning they owe significantly less on their mortgages their their homes are worth).  

Another factor is simply market timing.  March and April are strong home sales months in the San Antonio area.

So, during the first week of March, new listings have increased dramatically and the supply of available homes is gradually but steadily creeping upward.  If the trend continues, the average home seller's advantage will likely weaken as the home sales market  becomes balanced.

The bottom line is this.

Following on the heals of the highly successful 2013 home sales year, San Antonio has all of the right economic conditions for a vibrant spring and summer 2014 residential sales market.
 
The nearby Eagle Ford Shale oil/gas boom is a highly significant factor, especially for home sales in the neighborhoods nearest the oil and gas fields south of San Antonio and Bexar County.

Also, San Antonio homes remain highly affordable and mortgage interest rates are exceptionally low for well qualified home buyers.

In summary, here is our advice for buyers and sellers in this March’s San Antonio home sales market. Don't delay. Act now to take advantage of this month's strong market.

That’s all for our March 2014 San Antonio bases area realty market report.

We encourage reader commends and recommendations about how to make our reports more informative and useful.

Please visit our sanantoniohomequest.com website for more information and access to our highly rated San Antonio homes for sale search engine.

If you have questions, need San Antonio realty or mortgage loan advice and assistance, or just want to chat a bit about the Alamo City area, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).

We’re Randy and Stephanie Kelley, Realtors ® at Keller Williams Legacy, San Antonio, Texas.

Our never ending goal is to help you get the best price, terms, and conditions for your residential realty investment.

Should You Sell Your San Antonio Home Now Or Just Celebrate During The 2013 Holiday Season

 

VERSUS

 SO, DO YOU SELL OR JUST CELEBRATE?

It's the Thanksgiving and Christmas holiday season 2013 in San Antonio. 

Late fall/early winter holiday season is an inconvenient time to market a home for most sellers, consequenty, prospective sellers who can affort to wait, usually opt to list after the holidays.

So, why should this year be different? 

Here are the reasons anyone who can list his or her home for sale now shouldn't wait until after the holidays.

First, in November 2013, the San Antonio area residential realty market is currently exceptionally active for the late fall home selling season. 

Second, the inventory of homes for sale is presently very very low.  There's only a 3.3 month supply of homes on the market that aren't currently under contract.  Buyers are out there looking but finding few available homes to choose from.

Third, because there are so many buyers looking at so few homes for sale, the market is frustrating buyers and favoring sellers.

Fourth, it's likely the majority of prospective sellers now waiting out the holidays will dump their homes on the market soon after the first of next year.

So, our recommendation is for prospective home sellers to get ahead of the crowd now instead of waiting for a time when there will be more homes on the market and competition for buyers will have become fierce.

We know how to best market your residential property. For the best home selling advice and assistance, visit our website at sanantoniohomequest.com  or call Stephanie Kelley at (210) 867-8743 or Randy Kelley at (210) 863-2661.   

Stephanie & Randy Kelley

Realtors®

sanantoniohomequest.com

Keller Williams Lecacy

San Antonio, Texas 78258

Steven Gragg Broker

San Antonio Real Estate News

If your're looking to buy or sell a home in or around San Antonio, Texas, visit sanantoniohomequest.com.

SAN ANTONIO IN THE NEWS

As it enters 2013's holiday season,  the San Antonio metropolitan area is thriving economically and rapidly growing in size and population.

These recent reports reflect the reasons why the area is attracting so many new businesses and incoming residents.  

• Kiplinger.com projects the Alamo City area will attract 150,000 new jobs within the next 5 years.
• Trulia analysts call San Antonio the nation's fourth healthiest housing market.
• Forbes calls San Antonio the nation's number three city for new technology and number thirteen for careers and businesses.

In days past, "Gone To Texas" was the phrase used by Americans immigrating west to escape debt.  Today, San Antonio, Texas, is the preferred destination for individuals and businesses seeking opportunity and prosperity.

SANANTONIOHOMEQUEST.COM

San Antonio Weekly Mortgage Newsletter

 

Add mike.clover@homewoodmortgage.net to your email address book to ensure delivery.

LOOKING TO BUY OR SELL A SAN ANTONIO, TEXAS HOME?

VISIT SANANTONIOHOMEQUEST.COM

Credit Scores For San Antonio Home Loans

 

 

Why is it so hard to find reliable information about minimal credit scores for San Antonio home loans?

 

The answer is simple. 

 

In today's post Great Recession mortgage lending environment, the lenders seem reluctant to post definitive guidance about almost anything.  That's because loan qualification standards are strict, multifactorial, and not just limited to an applicant's credit scores.

 

That said, there are some credit score quotes that are reasonably consistent across many lending websites.  They are:

• FHA loan - 620 minimum score and without a history of bankruptcy and with a positive history of paying creditors on time
• Conventional loan - 680 minimum score and without a history of bankruptcy and with a positive history of payting creditors on time
• VA loan - 620 minimum score and without a history of bankruptcy and with a positive history of paying creditors on time

Be mindful that, from the perspective of a lender, credit scores are only a part of a much bigger picture.  We recommend, therefore, that you consult with a loan officer at a mortgage brokerage,  bank or credit union. 

 

When the time comes to apply for a mortgage loan, it pays to shop around, so don't be shy about talking with many lenders because not all lenders have the same loan costs,  terms. and conditions. 

 

For a list of lenders with a proven record of providing satisfactory service for our home buyers, visit our lender page. 

 

Call them.  They'll be glad to hear from you because they want your business.

 

Please visit our website or call us for the best San Antonio area home buying and selling advice and assistance.  We are - For the best home selling advice and assistance, visit our website at sanantoniohomequest.com or call Stephanie Kelley at (210) 867-8743 or Randy Kelley at (210) 863-2661.

Stephanie & Randy Kelley

Realtors®

sanantoniohomequest.com

Keller Williams Lecacy

San Antonio, Texas 78258

Steven Gragg Broker

(210) 863-2661 or (210) 867-8743



 

 

 

 

 

Quality Homes For Sale In San Antonio, Texas

LISTED BY THOMAS FENTRESS, RE/MAX PREFERRED REALTORS®

Looking for a quality, stylish, conveniently located 5 bedroom home in San Antonio's North East Independent School District (NEISD)? Here's the one to see. It's reasonably priced and located in a well maintained neighborhood near some of the area's best shopping, entertainment, and recreation centers. You'll drive only 20 miles to downtown San Antonio via easy accessable major road networks. Go to sanantoniohomequest.com for pictures and detailed information.

Ask us abour your eligibility for our Reward Program For San Antonio Public Service Home Buyers.

We specialize in providing the finest in realty services. Contact us for more information or an appointment to visit this listing or any residential property for sale in San Antonio, Bulverde, and the communities near the area's military bases.

Brought to you by Stephanie and Randy Kelley, Professional Residential Real Estate Analysts and Negotiators

kelleybus@aol.com or swkrealtor@aol.com

(210) 863-2661 or (210) 867-8743

The SanAntonioHomeQuest Realty Solutions Team

Keller Williams Legacy, San Antonio, Texas

March 2012 San Antonio Homes For Sale Report

We’re having an unusually early spring this year in South Texas.

The signs of springtime are abundantly evident all around the Alamo City and the nearby Texas Hill Country and South Texas Plain. Flowers are blooming, birds are singing, and the residential real estate market is going CRAZY!

It’s easy to see why. The area’s economic foundation is exceptionally strong as evidenced recently by San Antonio being ranked by the Bureau of Labor Statistics as being among the top 10 metros with the greatest projected job growth through 2020.

It’s a fact. Texas is currently the Nation’s leading economic powerhouse and San Antonio and South Texas are a major contributor to the state’s economy, growth, and stability. The area’s oil and natural gas fields, health care industry, Air Force and Army complexes, tourist attractions, commercial activities, and service sector are generating historically high demographic and economic growth for the Alamo City and surrounding communities.

A vibrant economy drives home sales. Entering March 2012, average San Antonio area residential list prices are up 6.7% over March 2011, pending sales are up 10.81% and the latest closing prices are up 1.39%.

Remarkably, the homes-for-sale inventory is down 13.15% - the lowest March inventory since 2006. With only a 6.5 months inventory on hand, the home sales market is roughly balanced, offering a negotiation advantage to neither buyer nor seller.

That’s the good news for our March 2012 San Antonio realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.

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 (Randy) or (210) 867-8743 (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.

February 2012 San Antonio Real Estate Market Report

It's hard to argue with the numbers and everywhere we look the numbers are up for San Antonio's economy and housing market.

Why not?

We're situated at the front gate of the highly lucrative and rapidly growing Eagle Ford shale oil boom.

Each month, we're growing or attracting a diverse mix of new and relocating businesses.

We have a relatively low unemployment rate when compared to America's other large metropolitan areas and the nation in general.

Population growth is steady and well supported by the local economic, health and government services infrastructures.

So, what does such favorable economic news mean for San Antonio home buyers and sellers?

In January, we were seeing signs of an impressive 2012 sales year for both the residential construction and resale housing markets. Now, in early February, thanks to the aforementioned factors coupled with historically low mortgage interest rates, we are experiencing an exceptionally active early winter realty sales season.

Just look! Here's the picture in and around San Antonio as of 4 February 2012:

Reasonably priced and well prepared resale homes are selling exceptionally well and new home builders are responding to better conditions by producing a larger inventory of production homes.

There are 9, 913 homes listed for sale compared to 11,399 one year ago.

The listings inventory is exceptionally low but will likely trend steadily upward as late winter/early spring listings are brought to market.

For the time being, the market has drifted into the 6 months supply range, reflecting a balanced market (a condition not seen in San Antonio for many years). A balanced market favors neither buyers nor sellers.

The average sales price for the most recent closings is $179,728 compared to last year's $187,762.

Nonetheless, closed sale prices are steadily rising - a trend likely to continue through the higher paced late winter/spring and summer home selling seasons. That's a good sign for sellers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 147 compared to 137 last year. A continuing downward trend is expected. That's a positive sign for home sellers and the San Antonio realty market generally.

Industry analysts see these data as reflecting a basically balanced housing market that is more likely than not to soon favor sellers over buyers.
　
That's all for our February 2012 San Antonio realty market report.

We encourage reader comments and recommendations about how to make our reports more informative and useful.

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 the wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (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.

January 2012 San Antonio Realty Market Report

When forecasting housing and other economic trends, it seems no one has a crystal ball. The best the experts can do is look to the present conditions and short term indicators for hints of things to come.

Now, as San Antonio enters the New Year, there are clearly impressive indications that the Alamo City area is likely to see remarkable economic strides - and an interesting housing market - in the coming months.

Who are experts supporting that conclusion?

First, the respected Milliken Institute recently ranked San Antonio as number 1 on its annual list of Best Performing Cities Index. Second, Livability.com ranks San Antonio second among the best 10 places in the Nation for recent college graduates. Third, in an article last July, Forbes Magazine ranked San Antonio as number 4 in its list of the nation's next boom towns. Fourth, Kiplinger Magazine gives San Antonio high rankings as a "best value city." The list goes on and on.

Significantly, the last time San Antonio received such high rankings from so many quarters heralded the city's historic 2006 realty boom. Is it possible that 2012 will see the return of a frantic residential realty market like 2006? It's possible, but not likely, because the nation's slowly progressing economic recovery should check what could otherwise be an overheated 2012 San Antonio realty market.

Nevertheless, as pointed out in our preceding blogs, many favorable factors are converging to make 2012 an exceptional realty year for San Antonio/Bexar County and the surrounding counties and communities.

Specifically, the area's employment rate is high, the population growth is steady, and, compared to other large metropolitan areas, home prices are more reasonable than average. Mortgage rates remain historically low and lenders are aggressively seeking qualified home buyers. The Eagle Ford Shale oil play just south of town is infusing manpower, money, and materiel into the economy and spurring high demand for housing for oil and gas industry workers and their families.

To say the least, there's ample reason to believe that San Antonio's 2012 realty market will be much more active than in any year since 2006.

For data lovers, here's the picture in and around San Antonio as of 2 January 2012:

Reasonably priced and well prepared resale homes are selling exceptionally well and new home builders are responding to better conditions by bringing more new homes into production.There are 9, 598 homes listed for sale compared to 10,984 one year ago. The inventory is exceptionally low but will likely trend steadily upward as New Year listings are brought to market. For the time being, the market has drifted into the 6 months supply range, reflecting a balanced market (a condition not seen in San Antonio for many years). A balanced market favors neither buyers nor sellers.

The average sales price for the most recent closings is $181,030 compared to last year's $190,656. Sales prices are rising - a trend likely to continue through the higher paced late winter/spring and summer home selling seasons. That's a good sign for sellers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 149 compared to 144 last year. A continuing downward trend is expected. That's a positive sign for home sellers and the San Antonio realty market generally.

Industry analysts see these data as reflecting a housing market slightly favoring seller's over buyers.

That's all for our January 2012 San Antonio realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.

Wishing you and yours a Happy New, 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 the wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie), or email us at swkrealtor@aol.com or kelleybus@aol.com. Our http://SanAntonioHomeQuest.com Solutions Team is always ready to help you with your home buying or selling needs.

Best Way To Search For San Antonio Homes For Sale

First, if you’re looking to buy or sell a San Antonio area home, please visit Randy and Stephanie Kelley’s http://sanantoniohomequest.com website for the essential advice and assistance you’ll need, including access to our world class realty search engine.

Now, speaking of realty search engines, here’s something you might consider.

If you’re spending a lot of time surfing the Internet looking for San Antonio area listings be aware that all of the Internet search venues, even including the one at SanAntonioHomeQuest.com, aren’t in real time sync with the local Multiple Listing Service (MLS) because they all rely on periodic MLS uploads to stay current. In fact, some of the popular venues are many hours to days out-of-date.

What's better? A direct San Antonio MLS search is far superior for detail and timeliness.

Even if you’re making your SAn Antonio home purchase next summer or fall, it’s not too early to start receiving detailed MLS listing reports matching your needs and coming to you directly from the San Antonio Multiple Listing Service.

The MLS search engine lets you save promising listings for future reference, and, by the time you start your on-site housing hunt, you’ll be well primed with information about neighborhoods, home styles, builders (yes, you’ll also get occasional listings for new construction homes) and will have a nice list of promising homes to see right away.

There’s one caveat to keep in mind.

Only a Realtor® member of the local MLS can set up a dedicated search for you. So, if you want an ongoing automated MLS search set up in your name, you must call or send an email request to a San Antonio real estate professional of your choice.

Be sure to describe your ideal home in detail because the MLS search is highly flexible and can be exceptionally specific in terms of your home ownership wants and needs. Ask for your search to be set up as soon as possible.

Be prepared to hear back and expect the Realtor® to explain how he or she can serve your consumer interests as your buyer agent. That’s cool, because the majority of home buyers in the San Antonio area are represented by buyer agents and someday you’ll have to decide which agent will best represent you.

The SanAntonioHomeQuest.com Realty Solutions Team will set up a free direct San Antonio MLS search for you without any obligation on your part.

Just describe your ideal home in an email to kelleybus@aol.com or swkrealtor@aol.com or call Randy at (210) 863-2661 or Stephanie at (210) 867-8743.

December 2011 San Antonio Residential Realty Market Report

The San Antonio residential real estate market is exceptionally active this holiday season!

Early December is typically the low season for realty activity in and around the Alamo city, but this year it's remarkably different.

Many factors are contributing to the unusually active market.

First, because of the area's high employment rate, population growth, and
better than average home prices, San Antonio is viewed as one of the top 10
large metropolitan markets for both home buyers and sellers.

Second, mortgage rates remain historically low and lenders are aggressively
seeking qualified home buyers.

Third, there are positive signs suggesting the national economy is experiencing
a slow, but relatively steady recovery. That factor alone is bringing more
buyers than usual into the market this December.

Forth, the nearby Eagle Ford Shale oil play is spurring housing demand for
thousands of oil and gas production workers and their families.

Those factors are generating a very healthy residential sales environment
wherein reasonably priced and well prepared resale homes are selling
exceptionally well and new home builders are responding to better conditions by bringing more new homes into production.

For those who love stats, here are the key indicators for San Antonio's single
family detached home listings as of 7 December 2011.

There are 10,401 homes for sale compared to 11,694 one year ago. The inventory is exceptionally low, is trending steadily downward, and has drifted
into the 6 months supply range, reflecting a balanced market (a condition not
seen in San Antonio for many years). A balanced market favors neither buyers
nor sellers.

The average sales price for the most recent closings is $176,003 compared to
last year's $193,701. That's an unreliable indicator because the large number
of lower priced properties sold in 2009 & 2010 under the Federal tax
incentive programs temporarily depleted the lower priced home market. An
analysis of longer term data indicates the absence of any significant sales
price appreciation since 2007. That's a good sign for buyers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 139 compared to 144 last year. A continuing downward trend is expected. That's apositive sign for home sellers and the San Antonio realty market generally.

Industry analysts see these data as reflecting a housing market slightly
favoring seller's over buyers.

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

We encourage reader comments and recommendations about how to make our reports more informative and useful.

Wishing you a merry Christmas and Happy New, 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, are looking to buy or sell a San Antonio home, or just want to chat a bit about the wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (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.

How To Get The Cleanest Windows In San Antonio

The SanAntonioHomeQuest.com team provides realty solutions, and they're not limited to buying or selling your San Antonio home. Sometimes we see a home maintenance need that needs addressing - like how to get the cleanest windows in San Antonio.

Believe me, having lived in San Antonio so many years, I'm confounded by the gunk clouding my home's windows. I'm certain I've tried every window cleaning product, including some "as seen on TV." You know, the one not found in stores, but already on the "As Seen On TV" shelf up the street at Walgreens. I guess Walgreens isn't a store - huh?

I digress -- back to my point. It is truly hard to keep your San Antonio home's eyes bright and shiny.

But, there's a homemade formula that works better than anything we've found in the stores and we are sharing it with you at our Texas Home Girl sister site. Give her a click and learn the right formula to combine hot water, ammonia, vinegar, and alcohol (no -- not in yer mouth -- in yer wash pail), to whisk away San Antonio window crud.

This helpful hint blog is brought to you by the SanAntonioHomeQuest.com Realty Solutions Team. We're the best - leave the rest.

If you're looking to buy a San Antonio, Bulverde, or military base area home, go here for our world class listings search engine.

Loan Prequalification And Down Payment For San Antonio Homes For Sale

The SanAntonioHomeQuest.com Realty Solutions Team loves to answer questions about buying and selling homes. Here's the latest one.

Question: How do I get pre-qualified and what is a good down-payment for a home?

Our Answer: If you are just wanting to get an idea, you could use the link below for some general information:

http://cgi.money.cnn.com/tools/houseafford/houseafford.html

If you are seriously considering purchasing, you will want to visit with a loan officer that you feel you can trust. Your agent might recommend one or you could ask friends to suggest someone with whom they have had a good experience. You could also visit your personal bank or credit union.

A pre-qualification should not cost you anything. A pre-approval is often required when you are ready to make an offer and that will usually have the cost of a loan application and credit check. The pre-qual is enough to get started in most areas, but there will be a point where you need approval.

The down payment is variable and is different from your earnest money. How much you choose to put down (along with other things) can affect the interest rate. If you are VA eligible, or qualify for a USDA financing, you may get by with 00 down payment. FHA will require 3.5 percent down. A conventional loan will vary and can run anywhere from 5% to as much as you want to put down. Many people choose 20% down on a conventional loan to avoid private mortgage insurance (PMI).

A good agent and/or a good loan officer will guide you through this maze? Good luck!

If you're looking for San Antonio homes for sale, visit our world class search engine at

http://www.sanantoniohomequest.com/ext-search-listings.asp.

Brought to you by the SanAntonioHomeQuest.com Realty Solutions team. If you have a question about San Antonio, real estate, mortgage loans, anything realty -- go here -- and we'll get back to you with our answer as soon as possible.

November 2011 San Antonio Homes For Sale Report

If you're visiting to find homes for sales in San Antonio, visit our world class realty search engine at SanAntonioHomeQuest.com. If you want to know what's happening in the residential realty market, read on:

It's autumn in South Texas. Bright beautiful days, balmy afternoons, and cooler nights herald the approaching holiday season. Residents and tourists are out and about, delighting in San Antonio's most pleasant season.

Typically, San Antonio's residential realty market cools down with the season. It's to be expected because San Antonio's realty market runs in a predictable seasonal cycle. The lowest sales month is January, the higher sales season kicks off in March and usually peaks in June, and, after school starts in August, the market draws down in a leisurely fashion through the fall and early winter.

So far, this year's cycle has been typical, with one exception. The area has experienced a significant reduction the homes-for-sale inventory.

Currently there's approximately a 7 months supply of homes on the market - signifying a weak buyer's market. If the supply drops much lower, the market will experience a balanced market neither favoring buyers or sellers and likely causing a gradual rise in home prices.

Balancing the market is a healthy trend indicative of improving economic conditions. That's unquestionably the case in San Antonio this year.

Here's why.

Job growth is excellent and the unemployment rate is relatively low. Just south of the city, the developing Eagle Ford shale oil field is attracting new businesses and generating thousands of new job opportunities throughout South Texas. Also, the Alamo City's traditional economic generators remain strong with financial, service sector, military, bioscience, and medical establishments leading the way and showing no signs of weakening.

Barring unforeseen factors, San Antonio's realty market will likely mirror San Antonio's vibrant economic conditions - strong, resilient, & growing.

Here are the relevant market stats for San Antonio area single-family detached homes as of 5 November 2011.

There are 10771 active listings, compared to 12072 one year ago. The inventory is decreasing very rapidly. That's a good sign for home sellers.

The average sales price for the most recent closings is $181,243, compared to last year's $183,131. Because the decrease is likely seasonal and not indicative of a long term trend, it's neither a good nor bad sign for buyers or sellers.

Average cumulate-days-on-the-market (CDOM) for the most recent sales is 146 compared to 126 last year. For the time being, CDOM data remains positive for San Antonio home buyers.

Industry analysts see these data as reflecting a housing market moving toward balanced conditions. That means the market might soon favor neither buyers nor sellers.

That's our November 2011 San Antonio realty market report. We encourage reader questions, comments, and suggestions for making this monthly report more relevant and informative.

Wishing you an wonderful November and a blessed Thanksgiving, we are 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 (210) 863-2661 or (210) 867-8743 or send an email to swkrealtor@aol.com or kelleybus@aol.com. Our http://sanantonohomequest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

October 2011 San Antonio Real Estate Market Report

Like the weather, San Antonio's realty "hot season" typically ends in September. In October, falling leaves and falling temperatures are accompanied by falling home sale activity.

It's to be expected. San Antonio's realty market runs in a predictable seasonal cycle. The lowest sales month is January, the higher sales season kicks off in March and usually peaks in June, and, after school starts in August, the market draws down in a leisurely fashion through the fall and early winter months. Interestingly, some years see a spike in activity in late October and early November. Will that happen this year? It remains to be seen.

So far, this year's cycle has been typical, albeit sales volume has been unusually modest due to the influence of the continuing national economic malaise.

Barring the return of a full-blown recession, industry analysts see little reason to be concerned about San Antonio's economic health.

Why?

The area's job growth is excellent. Its unemployment rate is relatively low. Corporations are relocating to the area. Just south of the city, the developing Eagle Ford shale oil fields are fueling an economic boom. The Alamo City's financial, service sector, military, bioscience, and medical establishments are strong and fully capable of providing the stable economic environment needed to encourage and sustain small and large business development.

Looking at real estate specifically, local analysts are confident that, barring unforeseen factors, San Antonio's realty market will breeze through the expected seasonal cool-down and come back even stronger in the spring.

Here are the relevant market stats for San Antonio area single-family detached homes as of 1 October 2011.

There are 10974 active listings, compared to 12495 one year ago. The inventory is decreasing very rapidly. That's a good sign for home sellers.

The average sales price for the most recent closings is $188,836, compared to last year's $188,411. The very small increase in average sales price is insignificant and, therefore, neither a good nor a bad sign for sellers or buyers.

Average cumulate-days-on-the-market (DCOM) for the most recent sales is 135 compared to 123 last year. For the time being, CDOM data is positive for San Antonio home buyers.

Industry analysts see these data as reflecting a housing market slowly drifting toward balanced conditions. That means the market neither favors buyers nor sellers.

That's our October 2011 San Antonio realty market report. We encourage reader questions, comments, and suggestions for making this monthly report more relevant and informative.

Wishing you an wonderful October 2011, we are 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 (210) 863-2661 or (210) 867-8743 or send an email 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.

Texas Home Buyer Two Steps Around Her Agent

This is a re-blog of a recent posting on the very interesting texashomegirl.blogspot.com site.

It gives some insight into one of the trials and tribulations of working as a home buyer's agent.

I think people tend to forget that the buyer's agent is essentially the buyer's employee. This blog is presented here to in an effort to make readers sensitive to the significance of that relationship and to encourage everyone employing a buyer's agent to follow the golden rule.

Here's the blog:

A friend stopped by the Home Girl's office yesterday. She was terribly upset because a client that she had worked with for over a decade was terminating their agency agreement.

It's painful to be fired. Ask any number of the currently unemployed who have been terminated or laid off due to downsizing and the lousy economy.

Sometimes the termination is justifiable because of the employee's actions or non-actions, and sometimes not so much. But, no matter the cause, the sick feeling in the pit of the stomach is right there, a tight, nauseating knot that lasts for days. Even when the termination makes sense, it hurts.

In the private sector, employees are paid for their services. If an employee is not paid for work performed, then a complaint can be filed for theft of services. Governor Perry signed SB 1024 eliminating a loophole that previously existed for a criminal theft of service charge. Under prior law, a party obtaining services from another under a promise to pay could avoid a criminal charge of theft of service so long as the party was making minimal payments. Read more here:

http://bit.ly/qYuWSJ .

My colleague did not have such recourse. The buyer felt she had "found" her home without assistance.

• She failed to take into consideration the hours that were spent setting up searches using specific criteria requested by the buyer.


• She did not take into consideration the number of homes that had already been shown to her.


• There was no accounting for time spent researching property values in communities in which she had expressed an interest.


• No mention was made for reimbursement of travel or gas expenses.

This is just a partial list. The buyer just didn't understand or care what her friend and agent was doing on her behalf, spending considerable time (and time is money) and concentrated effort.

This agent is sharp. Had the buyer mentioned that she was not finding her desired home, that her needs had changed, then the search would have been tweaked and more homes may have been available. There was a signed buyer agency agreement and an established relationship of many years.

Instead of communicating her wishes to her agent, the buyer called another agent to show her a property. Kind of like a first date with somebody when you are married to somebody else. I guess the showing agent didn't ask the right questions (are you working with an agent?), had no ethics, or the buyer answered "not really."

When I receive a sign call and ask "are you working with an agent" and the potential buyer answers "not really," I usually cringe and then proceed to lose the lead by saying something intelligent like, "Seriously? What does that mean? Not really? Do you or do you not have an agent?"

These questions are not an effort to be lazy, to not show my own listings, but are used as an effort to be ethical, to respect the efforts that another agent has invested into his or her client, and to avoid the confusion caused by an existing buyer's agency agreement versus the procuring cause argument that will probably be offered by the agent that showed the one property that my friends client "found."

As Realtors, we have an obligation to be ethical. Customers are under no obligation to share in that responsibility, but clients have signed an agreement to be loyal. It just seems to me that you got to dance with who brung ya, and if you don't want that, then break up before the dance begins.

Post Script: I was able to visit with my colleague today to see how things were going. It turns out that she did have a conversation with the "new" buyer's agent. The agent did ask the questions, but the answer was the usual - not really, not a signed agreement. (I guess the buyer forgot - hummmm). The new agent has offered to pay a referral fee to my colleague. I don't really think this is a win-win. I am happy that my friend is getting a little compensation. My opinion of her former client is not so great, slightly better of the other agent, but now I am the one with a sick feeling in my stomach and I don't feel like dancing with anybody.

Many thanks to Stephanie Kelley, the author of the preceding blog at http://texashomegirl.blogspot.com/ .

If you want to know more about buyer agency relationships, need information about homes for sale in the San Antonio area, or want advice about how to best go about finding and buying a residential real estate property, please contact a member of the http://sanantoniohomequest.com/ Realty Solutions Team at (210) 863-2661 or (210) 867-8743 or kelleybus@aol.com or swkrealtor@aol.com.

San Antonio Homes For Sale Today

It’s a lovely 14 September 2011 in San Antonio.

It’s still hot and dry but a cool front is approaching and there’s a chance we’ll see relief from our protracted heat wave and drastic drought conditions. That’s great news for the weather weary citizens of the River City.

There’s also good news for home owners and buyers. The area’s realty market is unusually active for this time of the year.

Sellers should be pleased to hear that pending home sale closings are up and the inventory of available homes is down. That means less competition.

Buyers should be happy to learn that the mid-price for homes for sale hasn’t changed much from last year’s median sales price.

Both home sellers and buyers should know that the market is drifting toward a balanced condition neither favoring buyers nor sellers.

Here’s a simple summary of San Antonio’s single family detached housing market today:

There are 11250 listings.
There 1908 home sale contracts scheduled to close soon.
The average list price of pending sales is $186,626.
The median sold price for recent sales is $149,995.
Homes are selling for 96% of their list price.
It’s taking about 132 days to sell a house. Of course, many well prepared homes are selling much quicker.

That’s all for today’s report.

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

Least And Most Expensive Homes For Sale In San Antonio

$1,400,000 - 2 bedrooms

$25,000 - 2 bedrooms

Sometimes, San Antonio real estate is hard to figure out.

Here’s an example. Looking at the 517 new listings recorded in the San Antonio Multiple Listing Service in the last 7 days, the least expensive and most expensive properties were both 2 bedroom homes. The least expensive is listed for $25,000 and the most expensive for $1,400,000.

Yes, believe it! A $1.4 million 2 bedroom house!

The least expensive property is located at 1110 Patton Blvd, San Antonio. The MLS number is 911866.

The most expensive newly listed property is located at 21625 Cielo Ridge, San Antonio. The MLS number is 911299.

Right in the middle of the 517 new listings is the property at 1607 Selkirk Street, San Antonio. It’s listed for $172,500 and is within easy commuting distance to Randolph AFB and Fort Sam Houston.

If you want detailed information about it, you’ll find it at sanantoniohomequest.com.

If you want to know more about least expensive or most expensive new listings, or any listings in between, contact us.

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.

The Fear Of Making A Wrong San Antonio Home Buying Decision

It's natural and understandable. Every home buyer is scared of making a wrong decision.

Why not? Buying a home is one life's most stressful decisions.

So, in today's oftentimes confusing market, how is the average home buyer insuring against making a wrong decision?

The answer is evident to anyone who works with realty consumers. Today's home buyer uses the Internet as the platform for becoming an informed and, hopefully, a more secure realty consumer.

Yes, the Internet is a good starting point; however, using the Internet as the sole information source to insure against making a bad decision is inherently risky, especially when it involves a critical financial decision like purchasing real estate.

Let's face it. The Internet is a deep well of facts and fallacies, and, for both the uninitiated and the repeat home buyer, getting the complete picture and sorting Internet truth from fiction is a daunting task.

Unfortunately, many Internet reliant home buyers become over confident. Empowered and emboldened with online information about home values, neighborhoods, and home buying processes and procedures, they charge into the realty market place, knowing much, yet rarely knowing everything they need to know.

So, what's a home buyer to do - stop using the Internet's vast realty research capability? Certainly, not! Use it skeptically? Absolutely - plus seek the advice and assistance of a reliable person who knows the difference between Internet fiction and realty fact.

The most reliable source for separating Internet truth from fiction is a trained, experienced, and licensed real estate professional such as a realty attorney, real estate broker, or a real estate agent. All can answer the questions, set the expectations, and activate the procedures that are so critical for a successful and frustration free home buying experience.

Naturally, most homebuyers seek out a real estate broker or agent.

Selecting the right real estate agent is critical. It's best to use someone with the Realtor® designation, signifying the broker or agent holds the highest legal and professional duty to protect realty consumer interests.

So, to relieve home buying fear and anxiety, there's a simple formula. A trusted Realtor®, plus the right knowledge base and tools, equals the right decision.

We help San Antonio area home buyers and sellers be informed and capable realty decision makers. We are Stephanie and Randy Kelley, Realtors® of Keller Williams Legacy. For the best realty services, call us at (210) 863-2661 (Randy) or (210) 868-9743 (Stephanie) or email us at kelleybus@aol.com or swkrealtor@aol.com. You're also invited to visit our website at sanantoniohomequest.com for reliable and informative home buying and selling information.

San Antonio Mortgage Loan News

Here's great news!

Have you recently been denied a mortgage loan to purchase a San Antonio home because your credit score wasn't high enough?

Maybe we can get you qualified.

W.R. Starkey Mortgage can help prospective home buyers who have a credit score of 580 or higher!!

Rates are great - Low 4%.

We can also help you refinance a home.

Apply on line www.shannoncollier.com

Shannon Collier
Senior Loan Officer
NMLSR # 232124
Office: (210) 545-9300 ext 235
eFax: 1-866-703-8734
scollier@wrstarkey.com
WR Starkey Mortgage, LLP
NMLSR # 2146
12500 San Pedro Avenue, Suite 100
San Antonio, TX 78216