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.

A Two Month Supply Of Available Houses In San Antonio

A few weeks back, we predicted that San Antonio's inventory of available homes for sale could soon fall into the two months range.  Briefly, last week, the supply of San Antonio homes on the market and not already under contract fell to 2.99 months.   That's not a lot of houses for buyers to select from in a metropolitan area as large as San Antonio.

Will the low home supply last?  It remains to be seen, but it could happen because an unusually small number of new listings are coming on the market for this time of the year.

The continuing  imbalance between San Antonio's inventory of available homes and the number of buyers looking for San Antonio homes for sale means the area's late winter/early spring residential market will strongly favor home sellers and the most attractive homes will sell very quickly.

Consequently, San Antonio buyers looking to purchase a new or resale home this year are strongly advised not to delay their search much longer because, by summer 2014, home prices in the San Antonio area are likely to be 10 or more percent higher than in 2013.

If you are a San Antonio home buyer or seller needing expert realty consultative and representation services, please visit our sanantoniohomequest.com website or call Randy Kelley at (210) 863-2661 or Stephanie Kelley at (210) 867-8743.  We are 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.

January 2014 San Antonio Home Sales Report

The beginning of January 2014 closes the most active San Antonio residential real estate market year since 2006.  According to Steven Gragg, Chairman of the San Antonio Board of Realtors, “This year’s housing market proved even stronger than 2012, with the lowest months of inventory being reported in over six years. Every month, the total number of home sales exceeded those of their 2012 counterparts.” What does the future hold for San Antonio home sales? Analysts predict 2014 will be equally as active as 2013, if not more so. Why?     Home sales will remain strong because the area's exceptionally strong economy. Here are the facts. The San Antonio metropolitan area is basically an economic powerhouse driven by the still developing Eagle Ford shale oil and gas industry, a thriving business friendly environment based on tourism, service industries, a large active duty and retired uniformed services community, and thriving medical treatment, education, and training institutions.  Significantly, the proliferation of many new locally grown and inbound  businesses has produced the economic diversification the Alamo city has long needed to insure a stable and reliable source of manpower, money, and materials for now and years to come. Also, as evidence of San Antonio’s rosy economy, Forbes Magazine recently ranked San Antonio as being in second place for cities least effected by the late Great Recession. So, here’s what can be expected for San Antonio’s residential sales in January 2014 and into the following months:  •  the inventory of newly constructed and resale homes will remain unusually low,  •  home list prices will increase, •  home sale prices will increase,  •  average time to sell a home will decrease,  •  pressure on the already limited new and resale home supply will increase as buyers rush to make their purchases in the face of rising mortgage interest rates,and  •  the months long sellers’ market will continue unabated. Despite the good news for home sellers, prospective home buyers should take heart in knowing that, historically, San Antonio has a consistent record of moderate but steady home value appreciation and sales market stability. Furthermore, San Antonio homes are still very affordable when compared to homes in the nation’s other large metropolitan areas. That’s the good news for our January 2014 San Antonio residential realty market report. Wishing you a safe, happy, healthy, and prosperous new year, we're Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas. We encourage reader comments and recommendations about how to make our reports more informative and useful. You're invited to use our sanantoniohomequest.com website for reliable residential realty advice and assistance and a fast and easy residential listings search engine.  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).  Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

San Antonio Faces Possible Shortage Of Homes For Sale In January 2014

When it comes to home buyers finding a lot of homes for sale this coming January, they may be disappointed.  That's because December 2013 is seeing too few new and resale homes coming on the market while, at the same time, an unusually high number of holiday season buyers are snapping up the already limited inventory.

Currently, San Antonio's homes for sale inventory is at a level not seen since December 2006.  The population of the San Antonio metropolitan area has grown enormously since then.  It's a trend that's projected to continue through 2014 and beyond.  Consequently, unless more homes come on the market soon,  demand for housing could easily outstrip supply when the more active late winter/early spring market kicks in.

Here's the situation as of 18 December 2013.  There were only 8,007 single family detached homes for sale in San Antonio, but 1,826 of those homes were already under contract, leaving only 6,181 homes not spoken for.  That's only a 3.1 months supply of available homes for sale, and that figure is inching down daily. Unless more new listings come on the market soon, San Antonio looks to have a housing shortage in 2014 similar to that experienced in Austin and Houston this year.

So, what are the implications?

When demand outpaces supply, home prices are destined to rise and competition for available inventory will become exceptionally keen.  That's a welcome trend for home sellers, but will prove unwelcome and possibly daunting for home buyers seeking the best bargaining position.  Short market time, high competition for the best homes and multiple simultaneous offer situations will likely ensue.

In light of these developments, the realty community advises prospective sellers to get their homes on the
market as soon as possible and prospective buyers to launch their home search and make their purchase before the area locks into a very strong seller's market this spring and summer.

This article is brought to you by the members of the SanAntonioHomeQuest.com Realty Solutions Team, Keller Williams Legacy, San Antonio, Texas.

Visit our website or call us for the best advice about, and assistance with, your San Antonio home buying or selling needs.   Contact Stephanie Kelley, Realtor®, GRI, ABR, CRS, E-Pro at (210) 867-8743 or Randy Kelley, Realtor®, at (210) 863-2661.  

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 Texas Mortgage Rates For 6 November 2012

If you're looking to buy or sell a San Antonio, Texas, area home, visit  sanantoniohomequest.com Here are the 6 October 2013 home purchase and  refinance mortgage rates from Mike Clover, Mortgage Banker at Homewood Mortgage, LLC. You'll be happy with these low rate and low fee mortgage loans.  Let your friends and family know that we will beat any deal on rates, fees and service. We are from Texas, we are operated in Texas, and we are Texas strong!  All loans close on-time and within 30 Days or less. Refinance Rates & Purchase Rates could be lower... have your clients call me to discuss.  30 yr Conventional 4.125% - 0 Discount Points - 0 Origination 15 yr Conventional 3.25% - 0 Discount Points - 0 Origination 20 yr Conventional 4.125% - 0 Discount Points - 0 Origination 10 yr Conventional 3.375% - 0 Discount Points - 0 Origination 30 yr FHA 3.75% - 0 Discount Points - 0 Origination 15 yr FHA 3.25% - 0 Discount Points - 0 Origination 30 yr USDA 4.125% - 0 Discount Points - 0 Origination 30 yr VA 3.75% - 0 Discount Points - 0 Origination 15 yr VA 3.25% - 0 Discount Points - 0 Origination Jumbo 30 yr Fixed 4.5% - 0 Discount Points - 0 Origination Jumbo 15 yr Fixed 4.0% - 0 Discounts Points - 0 Origination Jumbo 7/1 ARM 3.75% - 0 Discount Points - 0 Origination Jumbo 5/1 ARM 3.25% - 0 Discount Points - 0 Origination     We are your locally owned and operated Texas mortgage banker!  * These rates are based on a estimated loan amount of $241,250 or above and roughly 4.17% to 5.809% APR depending on loan program. Rates are also subject to change without notice. FHA requires 3.5% down. Conventional requires 5% down. Jumbo requires 20% down up to $1Million. Jumbo APR is estimated 4.665% Some rates are based on a 740 credit score or higher. Some loans require lower LTV, call for details.

Services Provided: FHA VA USDA Construction Loans Conventional Jumbo Down Payment Assistance Programs Our Commitment to You: On-Time Closings Excellent Communication Call's Returned Promptly Phone Calls answered on Weekends Good Interest Rates for your Clients Reasonable Closing Costs 24/7 On-Line Applications @ www.mikeclover.com

Mike Clover Mortgage Banker Homewood Mortgage, LLC Toll FREE: 1-800-223-7409 O: 469-438-5587 F: 972-767-4370 NMLS# 234770 Web: www.mikeclover.com E-mail: mike@mikeclover.com Call for Super Service!!

November 2013 San Antonio, Texas, Residential Real Estate Market Report

 

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 also cools significantly during the fall and early winter months, however, this year, realty sales are exceptionally strong for early November and are projected to continue at a slower but still unusually brisk pace during the remainder of 2013.

In fact, this year has seen a continuation of the highly favorable home sales trend that started in the fall of 2012. Driven by low mortgage interest rates, the area's booming economy, and an influx of residential investor buyers, calendar year 2013's Alamo City area home sales record will likely come close to matching the historically high number of sales seen in 2006 and 2007.

Until recently, buyer demand has exceeded the inventory of new and resale homes and, until late summer, the home supply/demand imbalance caused both list and sale prices to rise unusually fast and the average time to sell a home to steadily fall. Now, because of the slightly slower fall selling season, those trends have stabilized.

Nonetheless, there may be significant changes in the wind. San Antonio has seen a very strong home seller's market for many months, however some realty analysts see the coming of a more balanced market for the San Antonio area in 2014. Why? It appears that the recent dramatic inflation of San Antonio home sale prices is driving too many prospective home buyers out of the market. Consequently, in the coming months, as home affordability decreases, demand will also decrease, thereby driving down sales, upping inventory and, ultimately, causing list and sales prices to fall. Only time will tell if the analysts' predictions will come true. We should know by mid-summer of next year.

That's for the future. For the time being, San Antonio home sellers hold the advantage, as shown by these key indicators for San Antonio's single family detached home sales market as of 4 November 2013:

There are 8642 homes for sale compared to 9396 one year ago. The inventory is very low but stable. The low inventory is a favorable sign for home sellers.

The average sales price for the most recent closings is $207,950, compared to last year's $199,544. That's a 4.21% average price increase and is much lower than the percentage increases seen during recent months. Although still favoring sellers, it might give prospective buyers some hope that home prices are moderating.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 90 compared to 121 days last year. CDOM data is positive for San Antonio home sellers.

That's all for our November 2013 San Antonio residential realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.

Wishing you a peaceful Veterans Day holiday and happy 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 learn more about our wonderful Alamo City, call
(210) 863-2661 or (210) 867-8743. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

San Antonio, Texas, Mortgage Rates For October 25, 2013

If you're looking to buy or sell a San Antonio Area Home Visit sanantoniohomequest.com   Here Is The Texas Mortgage Rate Sheet From Homewood Mortgage   You'll be happy with these low rate and low fee residential mortgage loans. Also let your your friends and family know that we will beat any deal on rates, fees and service.   We are from Texas, We are operated in Texas, and We are Texas Strong!    All Loans close on-time and within 30 Days or less.   Refinance Rates & Purchase Rates could be lower... have your clients call me to discuss.    Happy Friday, October 25, 2013!  Rates are rocking get em locked.   30 yr Conventional 4.0% - 0 Discount Points - 0 Origination 15 yr Conventional 3.125% - 0 Discount Points - 0 Origination 20 yr Conventional 4.0% - 0 Discount Points - 0 Origination 10 yr Conventional 3.25% - 0 Discount Points - 0 Origination 30 yr FHA 3.625% - 0 Discount Points - 0 Origination 15 yr FHA 3.25% - 0 Discount Points - 0 Origination 30 yr USDA 3.875% - 0 Discount Points - 0 Origination 30 yr VA 3.625% - 0 Discount Points - 0 Origination 15 yr VA 3.25% - 0 Discount Points - 0 Origination Jumbo 30 yr Fixed 4.375% - 0 Discount Points - 0 Origination Jumbo 15 yr Fixed 4.0% - 0 Discounts Points - 0 Origination Jumbo 7/1 ARM 3.75% - 0 Discount Points - 0 Origination Jumbo 5/1 ARM 3.25% - 0 Discount Points - 0 Origination     Homewood Is Your Locally Owned and Operated Texas Mortgage Banker    * These rates are based on a estimated loan amount of $241,250 or above and roughly 4.05% to 5.695% APR depending on loan program. Rates are also subject to change without notice. FHA requires 3.5% down. Conventional requires 5% down. Jumbo requires 20% down up to $1Million. Jumbo APR is estimated 4.445% Some rates are based on a 740 credit score or higher. Some loans require lower LTV, call for details.

Services Provided: FHA VA USDA Conventional Construction Loans Jumbo Down Payment Assistance Programs Our Commitment to You: On-Time Closings Excellent Communication Call's Returned Promptly Phone Calls answered on Weekends Good Interest Rates  Reasonable Closing Costs 24/7 On-Line Applications @ www.mikeclover.com

Mike Clover Mortgage Banker Homewood Mortgage, LLC Toll FREE: 1-800-223-7409 O: 469-438-5587 F: 972-767-4370 NMLS# 234770 Web: www.mikeclover.com E-mail: mike@mikeclover.com     Call for Super Service!!

September 2013 Homes For Sale In San Antonio

As San Antonio’s hot and dry summer hopefully cruises toward a cooler and wetter fall, the area’s residential realty market is expected to also cool off a bit after an exceptionally hot late spring and summer sales season.

Surprisingly, the Alamo City area home sales market peaked unusually early this year, with May seeing 2479 closed sales.  During June through August, home sales moved along at a slightly slower, but still brisk and steady pace.

So far this year, there has been a marked shortage of both resale and newly built homes.  As shown below, the demand/inventory imbalance has caused a gradual but steady increase in home prices and a significant decrease in the time needed to sell a residential property.  Specifically, as of 6 September 2013 compared to 6 September 2012:

• available resale home inventory is down 9.78% (from 10016 down to 9045), 
• pending homes sales are up 4.65% (from 2165 up to 2265),
• the average asking price is up 10.49% (from $283,577 up to $313,333),
• the average closed sale price is up 4.4% (from $200,947 up to $209,789),
• the cumulative time needed to sell the average resale home has fallen 22.88% (from 118 days down to 91).

With only a 4.8 month supply of homes on the market, San Antonio presents an exceptionally positive market for home sellers.  Homes are currently selling for 97% of asking price and well prepared homes in the most popular neighborhoods are going under contract very quickly.  

Although the news is exceptionally positive for home sellers, it remains good for home buyers because mortgage interest rates remain low and San Antonio area homes are remarkably affordable when compared to homes in the nation’s other large metropolitan markets.

That’s all for our September 2013 San Antonio realty market report.

Wishing you a beautiful fall season, we’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas.

Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying and selling need.  If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat about our wonderful Alamo City, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie). 

San Antonio Texas Best Mortgage Rates 26 March 2013

If you're looking to buy or sell a San Antonio area home, visit sanantoniohomequest.com Keller Williams Legacy for the latest San Antonio real estate news, best listings search engine and reliable online realty advice and assistance.  Buyers, see our Public Service Home Buyer Reward Program to learn how we might help you save money on your home purchase settlement fees.

Now, here is the 26 March 2013 San Antonio mortgage rate sheet from Homewood Mortgage.

San Antonio Texas Purchase & Refinance Mortgage Rates 

You'll be happy with these low rates & low fee loans.  Let your friends and family know that we will beat any deal on rates, fee's and service.

We are from Texas, we are operated in Texas, and we are Texas Strong!

All loans close on-time and within 30 Days or less.

Refinance Rates & Purchase Rates could be lower.  Call me to discuss.

All Loans close on-time and within 30 Days or less.   30 yr Conventional 3.625% - 0 Discount Points - 0 Origination 15 yr Conventional 2.75% - 0 Discount Points - 0 Origination 20 yr Conventional 3.5% - 0 Discount Points - 0 Origination 10 yr Conventional 2.75% - 0 Discount Points - 0 Origination 30 yr FHA 3.25% - 0 Discount Points - 0 Origination 15 yr FHA 2.75% - 0 Discount Points - 0 Origination 30 yr USDA 3.25% - 0 Discount Points - 0 Origination 30 yr VA 3.25% - 0 Discount Points - 0 Origination 15 yr VA 2.875% - 0 Discount Points - 0 Origination Jumbo 30 yr Fixed 3.75% - 0 Discount Points - 0 Origination Jumbo 15 yr Fixed 3.125% - 0 Discounts Points - 0 Origination Jumbo 10/1 ARM 3.5% - 0 Discount Points - 0 Origination Jumbo 7/1 ARM 3.0% - 0 Discount Points - 0 Origination Jumbo 5/1 ARM 2.625% - 0 Discount Points - 0 Origination * These rates are based on a estimated minimum loan amount of $190,000 or above and roughly 2.798% - 3.34% APR depending on loan program. Rates are also subject to change without notice. FHA requires 3.5% down. Conventional requires 5% down. Jumbo requires 20% down up to $1Million. Jumbo APR is estimated 3.845% Some rates are based on a 740 credit score or higher. Some loans require lower LTV, call for details.

Services Provided: FHA VA USDA Conventional Jumbo Down Payment Assistance Programs Our Commitment to You: On-Time Closings Excellent Communication Call's Returned Promptly Phone Calls answered on Weekends Good Interest Rates for your Clients Reasonable Closing Costs 24/7 On-Line Applications @ www.mikeclover.com

Mike Clover Mortgage Banker Homewood Mortgage, LLC Toll FREE: 1-800-223-7409 O: 469-438-5587 F: 972-767-4370 NMLS# 234770 Web: www.mikeclover.com E-mail: mike@mikeclover.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