Thursday, January 27, 2011

Bulverde and North San Antonio Area Events




This weekend, January 29 and 30, 2011, try our Creamy Roasted Artichoke soup special to start or the Oyster Rockefeller as an appetizer. For your main course, try the Grilled Tilapia over steamed Basmati Rice & topped with a Pineapple & Mango Salsa.

Valentine’s weekend we will be offering a special four course Valentine’s menu available on Friday, February 11th, Saturday, February 12th and Monday, February 14th. Don’t let our mistake get you in trouble! Make your reservations now to treat your Valentine to a delicious dinner on February 11th, 12th or 14th by calling 830.438.2747 or e-mailing us at mikesmanager@gvtc.com.

Thursday, March 3rd, join us for our food, wine and cigar tasting. Reservations are required and seating is limited so call 830.438.2747 now to reserve your spot!Bon Appétit,Chef Mike



Brought to you by the SanAntonioHomeQuest.com Realty Solutions Team, Keller Williams Legacy, San Antonio, Texas. Contact us for all your real estate needs. We're Stephanie Kelley at swkrealtor@aol.com (210 867-8743), Randy Kelley at kelleybus@aol.com (210 863-2661) and Missy McBee (se habla espanol) at missymcbee@kw.com (210 288-9810).

Tuesday, January 11, 2011

Nationwide Interest In San Antonio Homes For Sale

Here's news from the SanAntonioHomeQuest.com Realty Solutions Team.

A January 11, 2011 article in the San Antonio Business Journal, reports San Antonio was the fourth most researched residential real estate market in the country in 2010, according to Realtor.com.

Realtor.com is one of the Internet’s most often searched sites for real estate listings in all 50 states.

Scanning its 2010 search history, Realtor.com ranked the nation’s top 10 realty markets based on the number of visitors seeking homes for sale last year.

San Antonio ranked number four behind Las Vegas, Los Angeles, and Orlando.

All of the top ranked cities saw increased sales activity at the beginning of 2010, as buyers took advantage of the Federal home buyer tax credit programs and exceptionally low mortgage interest rates. After the tax credit programs expired, all of the leading markets also experienced a dip in sales activity.

That’s the latest home buying news from the SanAntonioHomeQuest.com Realty Solutions Team.

We’re Stephanie and Randy Kelley and Missy McBee, 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 (210) 288-9810 (Missy) or email us at swkrealtor@aol.com or kelleybus@aol.com or missymcbee@kw.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

Nationwide or locally, we’re here to satisfy your interest in San Antonio Homes for sale.

Monday, December 13, 2010

Why You Should Purchase A San Antonio Area Home Right Now



Here’s why you should purchase a San Antonio area home right now.

It’s December, typically the slowest month for Alamo City realty sales.

It’s likely there will never again be a home buyer’s market like we have in San Antonio right now.

If our realty market behaves as usual, after the first of the year, realty sales will perk up dramatically and list prices will rise.

Also, mortgage interest rates are rising now and expected to continue to rise in the first quarter of 2011.

So, please don’t wait. Now’s the time to take advantage of low home prices and low mortgage interest rates.

We’re here to give you home buying advice or assistance. Our goal is to help you purchase the best house, in the best neighborhood, for the price, terms and conditions most favorable for you. Don’t hesitate to call on us.

Queremos ayudarle con comprando la casa o perfecta ayudarle vendiendo su casa con servicio excelente.    (210) 288-9810 Missymcbee@kw.com.

We will be honored to help. We’re Stephanie and Randy Kelley and Missy McBee, 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 (210) 288-9810 (Missy) or email us at swkrealtor@aol.com or kelleybus@aol.com or missymcbee@kw.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs and will gladly give you the best advice regarding timing your San Antonio home search.

We’d love to tell you more about why you should purchase a San Antonio home right now.

Tuesday, December 07, 2010

Timing Your San Antonio Home Search

When the time comes to house hunt, planning your lead time is very important.

Let's address buying a resale home first.

Give yourself at least 3 to 5 days to visit listings and at least 30 additional days to bring your purchase to the closing table. For example, if you want to be in your newly purchased home on 1 June, we recommend you be in San Antonio for your on-site home search no later than the 3d week in April.

What can you expect when you start visiting homes for sale.

Most buyers find they can't speed shop comfortably. They need time to develop a personal comfort level with the home search process. The comfort level will usually gel after the first or second day of visiting listings.

Keep this in mind. For the average home buyer, there's an inherent disadvantage in seeing too many listings over a short time period. Simply stated - visiting listings is a physically and mentally tiring experience. After seeing too many homes too quickly, there's a risk of developing a type of mental fuzziness whereby the details of homes you've seen start to meld and morph.

To keep from becoming confused, be prepared to take the time to make notes, maybe take pictures or videos, and, before leaving a listing, to discuss and record its pros of cons.

We recommend not trying to see more than 8 listings per day.

The next phase involves analyzing competing prospective properties, selecting your target property, and preparing and submitting the offer. That should take approximately 3 to 4 hours in an office setting. It's your realty agent's job to lead you through this phase and make it as clearly logical and comfortable as possible.

After the contract documents are prepared and submitted to the seller's realty agent, it's not necessary to stay in town. As long as you have telephone and Internet and/or Fax access, subsequent steps, to include actually closing your purchase, can be managed remotely.

What about buying a newly constructed production home?

Since the available home builder inventory is more concentrated in new subdivisions, it's somewhat easier to shop for a new construction home vs. going from point-to-point looking at resale homes. Consequently, if you are willing to rule out buying a resale home, you can cut your home shopping time to as little as 3 days by exclusive looking for a new construction product. We don't recommend that tactic, however, because you should at least peruse the resale market so you'll have a basis for comparing the value of buying a new home versus purchasing a resale home.  

Finally, what about buying a lot and building a custom home?

That's a very attractive alternative for a buyer with the time and resources needed to produce a home that's highly customized to meet all of his or her home ownership wants and needs. It's also a very tedious and complicated process not to the liking or capability of the average home buyer.

Keep these factors in mind. In San Antonio, unimproved residential lots and acreage tend to be very expensive. Ask your realty agent to set up a MLS search for residential lot listings for you if you are interested in learning about lot features and costs.

After acquiring your lot, the process of dealing with the builder, the architect, selecting features, going to show rooms to select floor covering, fixtures, etc., might take weeks instead of days. The average time to acquire a lot and produce a customized home from ground up can require 9 months or more for an elaborate home.

Although you don't have to be on-site from beginning to end, it's unquestionably better to be around while the home is being built. Otherwise, it's highly recommended that you keep in touch by designating a third party to monitor the process for you.

If you don't know the ins-and-outs of Texas real estate, we recommend using an experienced realty buyer's agent to represent you irrespective of whether you intend buy a resale home, a brand new production built home, or even if contract to have your home built by a custom home builder. Real estate deals are complicated and quirky and a good buyer's agent knows when and how to advise you about unseen risks and to lead you around the home buying pitfalls no matter how you eventually acquire your San Antonio home.

You'll find that an experienced realty buyer's agent is indispensable when the time comes to scout out the San Antonio area for your best home buy.  Keep this in mind. San Antonio is a very large city - the 7th largest metropolitan area in the United States. The area is highly diverse in terms of neighborhood demographics, geographic features and climate, quality of subdivisions and prices and styles of homes therein. Having a least a basic knowledge of where you might want to live in the San Antonio will help focus your search on the best neighborhoods, with the best conditions and prices meeting your home ownership wants and needs. 

We will be honored to help.  We're Stephanie and Randy Kelley and Missy McBee, 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 (210) 288-9810 or email us at swkrealtor@aol.com or kelleybus@aol.com or missymcbee@kw.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs and will gladly give you the best advice regarding timing your San Antonio home search.

Sunday, December 05, 2010

December 2010 San Antonio Residential Realty Market Report

San Antonio real estate is great this holiday season!

Although early December is typically the low season for realty activity in and around the Alamo city, there are indications that this year will be different.  Many factors are contributing to an unusually active market for late fall and early winter.

First, because of the area's high employment rate, population growth, and better than average home prices, San Antonio is unquestionably a top market for 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.

Consequently, reasonably priced and well prepared resale homes are selling well and production home builders are offering enhanced buyer incentives in hopes of clearing out their new home inventories before the new year.

Although it's a great time to buy a new construction home, it's always prudent to diligently check out the incentives offered by the builders and particularly the loans offered by their affiliated lenders. Before signing a sales agreement, a buyer should seek the help of a real estate professional to verify (1) that the property is reasonably priced and (2) that the lender is offering the most favorable loan, with the best interest rate, for the lowest settlement costs.

For those who love stats, here are the key indicators for San Antonio's single family detached home listings as of 5 December 2010.

There are 11,733 homes for sale compared to 10,951 one year ago. The inventory is high but trending steadily downward. The plentiful inventory is a favorable sign for home buyers and the downward trend is a favorably sign for home sellers.

The average sales price for the most recent closings is $214,455, compared to last year's $181,959. That's an unreliable indicator because of the large number of lower priced properties sold in 2009 under the tax incentive program. An analysis of longer term data indicates an absence of any significant sales price appreciation since 2007. That's another good sign for buyers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 135 compared to 126 last year. During 2009, CDOM figures were unacceptably high, but dropped fast during the Federal Tax credit home buying frenzy. It remains to be seen if cumulative market time will improve further, but a slight upward trend is possible. Nonetheless, for the time being, CDOM data is positive for San Antonio home buyers, specifically, and for San Antonio's realty market, generally.

Industry analysts see these data as reflecting a housing market favoring buyers over sellers but trending toward more balanced conditions in the coming months.

That's all for our December, 2010, 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 merry Christmas and Happy New, we're Stephanie and Randy Kelley and Missy McBee, 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 (210) 288-9810 or email us at swkrealtor@aol.com or kelleybus@aol.com or missymcbee@kw.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

We look forward to answering your questions about our December 2010 San Antonio Residential Realty Market Report.

Wednesday, December 01, 2010

BofA in WikiLeaks crosshairs? | Inman News

Great article in Inman News this morning. Does Bank of America have it coming? To see the entire article, go here:



BofA in WikiLeaks crosshairs? Inman News

Wednesday, November 17, 2010

About San Antonio Residential Property Taxes


We get lots of  home buyer questions about San Antonio area residential property taxes.

It's understandable why property taxes are a matter of buyer concern.  Almost every buyer we encounter has heard someone complain that Texas real estate taxes are confusing.

Basically, it's not easy to answer property tax inquiries without doing some detailed research. 

Why?

In addition to San Antonio, the largest city in Bexar (pronounced exactly like "bear") County,  there are 20 smaller cities located in the county.   In addition to the cities, there are many other types of Bexar County taxing units, including, but not limited to, 11 independent school districts, 1 metropolitan utility district, a university health system, a community college district, the San Antonio River Authority, and two emergency service districts.

So, here's why a seemingly simple property tax question get complicated. 

In Bexar County, it's not unusual to have a residential property fall within the jurisdiction of one set of taxing units while a neighboring property falls within the jurisdiction of a slightly, or even significantly different, set of taxing units.  It's simply an issue of property location and taxing jurisdiction boundaries.

So, if you are a San Antonio/Bexar County home buyer, how do you go about determining the property tax rate for a particular area or for a specific property?

You might use a factor of 2.2% of appraised value.  That's the median property tax rate; but, be prepared to be disappointed with that factor, first, because the rates are so variable around the county and, second, you'll need to know a property's appraised value if you want to know about the tax bill for a specific property.

If you know the address of a property located in your area of interest, you can go to the
Bexar County Appraisal District website and do a free search for tax information about the property. The results will show the property's taxing jurisdictions and the aggregate property tax percentage rate.

Be prepared to experience some frustration with the site because you have to have the property's address just right or else the program won't find it.

If you don't want to do the research yourself, ask a Realtor® to do it for you.  Realtors® are expert property tax investigators, for both geographic areas and individual properties.

We will happy to answer your Bexar County/San Antonio property tax questions.  Just call or send an email.

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 or (210) 867-8743, 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.

We love to answer questions about San Antonio residential property taxes.




 

Tuesday, November 09, 2010

Buying A New Versus Resale San Antonio Home

Here’s the sananantoniohomequest.com Realty Solutions Team’s evaluation of the pros and cons of buying a new versus a resale San Antonio home.

First, keep this in mind. The appeal of a new home is so great that, over the 19+ years we’ve represented home buyers, 80% have bought a newly constructed home. It’s easy to see why.

■Each year, the builders seem to have more and more enticing features built into their products.

■The homes are new and unspoiled. They don’t have the expected wear and tear found in every resale home, no matter its age.

■The builders’ lending programs are very competitive and the builders ofter offer additional incentives to encourage the buyer to use their affiliate lenders. That’s particularly true toward the end of the year.

■Texas law requires the builder to warrant the home’s structure for 10 years.

■The appliances are warranted by the manufacturers in accordance with their standard warranty programs. The home’s other components & systems are usually warranted for a minimum of 1 year and sometimes up to 3 years.

■In terms of settlement costs, they can be reduced by using a builder’s cash incentive, if one is offered.

What about a resale home?

■Resale homes over 10 years of age come without a warranty, however we encourage the buyer to negotiate for a seller paid 1 year home protection plan. Usually the seller will agree to buy the plan in order to sweeten the deal and help seal the sale.

■Resale homes usually come with owner installed features that new homes don’t have - things like upgraded blinds, curtain rods, garage shelving, etc. If you are short on the money needed to improve a new home, then a resale home might work out better.

■If you need help with a resale home’s settlement costs, we can negotiate for seller to contribute to your closing costs. Sometimes it works, sometimes not; and, your lenders might limit the seller’s contribution to approximately 3% of the sales price.

In summary, when balancing the pros and cons of buying new vs. resale, there are many factors to consider and many opinions to be heard and evaluated. You usually won’t have a feel of the way you’ll go until you’ve personally seen a few resale and new homes, listened to some sales pitches, and driven around some new vs. established resale home neighborhoods.

The preceding advice is commonsensical, but, when comparing resale to new construction homes, some pros and cons aren’t always evident. We have your back on these issues and will let you know when you might not be seeing a consideration that’s important.

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 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.

Call us for our advice about buying a new versus resale San Antonio Home



Monday, November 08, 2010

Interesting San Antonio Home Selling & Buying Survey


Here's a recent San Antonio home selling and buying survey with a very interesting outcome.

It’s from Credit Suisse, a leading world wide financial services company specializing in advising clients about all aspects of finance, including real estate.

Each month, Credit Suisse surveys leading Realtors ® across the Nation to determine conditions in their market areas.

Here are the October 2010 survey results for San Antonio - the 7th largest realty market in the United States:

■Buyer traffic is below expectations for the season.

■Resale home owners are lowering their prices and offering creative buyer incentives. Home builders are offering more incentives.

■The length of time to sell a home is increasing. That’s usually an indication of continuing price declines in coming months.

Credit Suisse reports these interesting comments from real estate agents:

■“The terrible economy combined with tighter lending practices have discouraged people from buying”

■“Buyers only become seriously interested if sellers are willing to cut prices.”

Is this truly a a doom and gloom scenario for San Antonio real estate?  Absolutely not!

San Antonio homes are still being listed and sold at a slower but steady pace. A home seller who is willing to set a realistic listing price and make improvements to put the best face on the property is most likely to quickly find a buyer willing to take advantage of lower prices and fantastically low mortgage interest rates.

In this market, proper preparation on the part of both sellers and buyers pays off.

If you’re looking for the most reliable advice about how to go about selling or buying a San Antonio home, call 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 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.

We solicit your positive and negative comments about this interesting San Antonio home selling & buying survey.



Friday, November 05, 2010

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

Wednesday, November 03, 2010

November 2010 San Antonio Realty 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 in the fall and early winter months; however, this year, realty sales may be much cooler than usual.  Here's why.

Twelve months ago, driven by the Federal First Time Home Buyer Tax Credit Program, San Antonio's realty market was in the midst of a home buying frenzy.

The tax credit program was initially very successful as an exceptionally large number of home buyers rushed to purchase their first homes. Although the program prompted elevated home sales across the board, the inventory of properties priced below $150,000 sold off faster than homes in the higher priced categories.

After the tax credit program ended in April 2010, the market quickly drew back. Clearly, the tax credit program's success had drawn much of the energy out the market for the coming months.

Now, San Antonio area home sales and list prices are well below average for the second half of the year. Home values in some neighborhoods have depreciated and sellers have lowered their list prices accordingly. Nonetheless, buyer response has been tepid and the inventory of homes on the market remains high.

In order to attract buyers, owners of resale homes are offering attractive concessions and home builders are advertising enticing incentives.

Given the uncertain national economy, it's difficult to reach conclusions about San Antonio's long term realty market trends, but in the short term, it's clear San Antonio's home market remains relatively healthy and extremely favorable for buyers.

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.

Looking ahead, all key economic indicators are positive for the San Antonio realty market's continued growth. Contributing factors are the city's low unemployment rate, a history of sustained job growth, and the activities of a highly successful alliance of politicians, government agencies, and private entities focused on supporting local business development and encouraging outside corporations to locate to the area.

Of particular note for the coming year is the continuing infusion of manpower, money, and material resources associated the area's Military Base Realignment and Closing (BRAC) projects.

For those who love stats, here are the key indicators for San Antonio's single family detached home listings as of 3 November 2010.

There are 12,053 homes for sale compared to 11,073 one year ago. The inventory is high but trending slightly downward. The plentiful inventory is a favorable sign for home buyers.

The average sales price for the most recent closings is $183,120, compared to last year's $169,225. That's an unreliable indicator because of the large number of lower priced properties sold in 2009 under the tax incentive program. An analysis of longer term data indicates an absence of any significant sales price appreciation since 2007. That's another good sign for buyers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 127 compared to 128 last year. During 2009, CDOM figures were unacceptably high, but dropped fast during the Federal Tax credit home buying frenzy. It remains to be seen if cumulative market time will improve further, but a slight upward trend is possible. Nonetheless, for the time being, CDOM data is positive for San Antonio home sellers, specifically, and for San Antonio's realty market, generally.

Industry analysts see these data as reflecting a housing market strongly favoring buyers over sellers.

That's all for our November 2010 San Antonio realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.

Wishing you a happy Thanksgiving holiday, 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 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.




Saturday, October 23, 2010

15087 Spring Mist - Well Maintained And Affordable

15087 Spring Mist -a well maintained and affordable 2 bedroom, 1 full bath property - is located in the San Antonio's Spring Creek neighborhood. 



This resale home is in the Northeast School District and is within easy commute to downtown San Antonio, Randolph Air Force Base, and Fort Sam Houston. 

Everything is neat and tidy and ready for a quick move in. 

The home features a courtyard entry, really high ceilings in the living area, and a pass through window from the dining room to kitchen.  The covered patio offers a nice retreat and there's just enough yard for a nice garden.  There's cross fencing for a dog run.  The home backs to church property that's almost like a park.  The seller is offering a residential service plan.

Go here for more 15087 Spring Mist photos and information.

Contact us at (210) 863-2661 or at kelleybus@aol.com to schedule a showing.

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.

Please keep 15087 Spring Mist - a well maintained and affordable property - in mind.

Wednesday, October 13, 2010

Buyers Look For The Negatives In A Property

Did you ever notice how buyers look for the negatives in a property?

They look for a reason to rule out, to narrow their search. In the current market, there are so many homes available that I find that sellers aren't the only ones losing out.

Easily changed features of a home or even a very minor repair on a desirable listing that otherwise meets ALL of the buyers criteria can be the “Kiss of Death.”  I call it the "Mona Lisa's eyebrows effect." Check it out.  She doesn't have any.


Once distracted by a property's minor flaw or trivial issue, the prospective buyer "goes squirrelly" and loses the BIG picture like the kid in this YouTube video.



Thus distracted, it's walk out time, with the buyer thinking, "It may be a Mona Lisa, but why should I hang around a house with no eyebrows, when there are soooo many homes on the market and there must be something better out there than this."

Here are just a few minor items that have placed seeds of doubt in some of my clients minds.

• Cigarette smoke smell or animal smell at the front door.

• Any kind of minor damage around the entrance.(cracked or missing grout in tile, loose weather stripping, bad paint on door or trim)

• Dirty carpet (YUCK) This is the one that the new home sales people love to sell against! Who wants someone else’s nail clippings in their carpet?

• A toilet that runs or sticks when flushing. This opens a whole plethora of questions from the client. "OMG! What other plumbing issues are there? Do they have septic problems? "(Whether or not it's on septic)

• Dated wallpaper/paint. Client: "YUCK! What were they thinking?" Me: "Actually, this was a nice selection in 1989."

• Clutter (just too much of anything) Actually, this is my complaint, the clients don’t usually say anything, or sometimes they say, “Man, they have a lot of stuff,” which translates into, “This place is so cluttered and full of cha chas that I can’t see the house.”   This is when they get real squirrelly and start looking at your collections of vintage tongue depressors, and seriously, why didn’t you lock that valuable stuff up anyway instead of distracting the buyers?

Anyway, these are just a few, I have more and I am sure that you have plenty that you could share. Unfortunately, not all sellers have gotten the memo: The best priced house, in the best condition, in the best location THAT WINS THE BEAUTY contest will sell first. The point is that these relatively inexpensive fixes cause the buyers to lose focus, get distracted (my favorite term is to "go squirrelly") and move on to the next best thing.

In the current market, when a home fits all the major needs of a buyer, we should be able to help them see the BIG picture, how to address the concerns and negotiate those minor distractions into financial savings. . . . . unless there's something better down the street. Hey there's a squirrel!

Thursday, October 07, 2010

October 2010 San Antonio Real Estate Market Report

Here's your October 2010 San Antonio real estate market report.

It proves what a difference a year makes.

Twelve months ago, driven by the Federal First Time Home Buyer Tax Credit Program, San Antonio's realty market was in the midst of a home buying frenzy.

The tax credit program was initially very successful as an exceptionally high number of home buyers rushed to purchase their first homes. Although the program prompted elevated home sales across the board, the inventory of properties priced below $150,000 sold off faster than homes in the higher priced categories.

After the tax credit program ended in April 2010, the market quickly drew back. Clearly, the tax credit program's success had drawn much of the energy out the market for the coming months.

Now, San Antonio area home sales and list prices are well below average for the second half of the year. Home values in some neighborhoods have depreciated and sellers have lowered their list prices accordingly. Nonetheless, buyer response has been tepid and the inventory of homes on the market remains high.

In order to attract buyers, owners of resale homes are offering attractive concessions and home builders are advertising enticing incentives.

Given the uncertain national economy, it is difficult to reach conclusions about San Antonio's long term realty market trends, but in the short term, it's clear San Antonio's home market remains relatively healthy and extremely favorable for buyers.

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.

Looking ahead, all key economic indicators are positive for the San Antonio realty market's continued growth. Contributing factors are the city's low unemployment rate, a history of sustained job growth, and the activities of a highly successful alliance of politicians, government agencies, and private entities focused on supporting local business development and encouraging outside corporations to locate to the area.

Of particular note for the coming year is the continuing infusion of manpower, money, and material resources associated the area's Military Base Realignment and Closing (BRAC) projects.

For those who love stats, here are the key indicators for San Antonio's single family detached home listings as of 8 October 2010.

There are 12,458 homes for sale compared to 11,304 one year ago. The inventory is high but stable for the time being. That's a good sign for home buyers.

The average sales price for the most recent closings is $187,140, compared to last year's $176,287. That's an unreliable indicator because of the large number of lower priced properties sold in 2009 under the tax incentive program. An analysis of longer term data indicates an absence of any significant sales price appreciation since 2007. That's another good sign for buyers.

Average cumulative-days-on-the-market (CDOM) for the most recent sales is 123 compared to 126 last year. During 2009, CDOM figures were unacceptably high, but dropped fast during the Federal Tax credit home buying frenzy. It remains to be seen if cumulative market time will improve further, but a slight upward trend is possible. Nonetheless, for the time being, CDOM data is positive for San Antonio home sellers, specifically, and for San Antonio's realty market, generally.

Industry analysts see these data as reflecting a housing market strongly favoring buyers over sellers.

That's all for our October 2010 San Antonio realty market report. We encourage reader comments and recommendations about how to make our reports more informative and useful.

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 all for your October 2010 San Antonio real estate market report.

Wednesday, October 06, 2010

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.

Thursday, September 30, 2010

How Do You Pronounce Bexar?

So, how do you pronounce Bexar?  Newcomers to San Antonio frequently stumble over the name of San Antonio's home county by putting great emphasis on the X, thereby pronouncing a first syllable rhyming with Mex.

It's a common and understandable error. 

So how should you pronounce Bexar? Click here for an unforgettable way to remember.

 

Yes, Bexar is correctly pronounced exactly like "bear."

No matter how you pronounce it, Bexar County is a roaring great place to live, work, and buy or sell a home.  We're here to help.

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

Monday, September 27, 2010

San Antonio, Texas, Residential Real Estate Taxes




Looking for information about San Antonio, Texas, real estate taxes?  Look no further.  Here are the basics.

First, here's the good news.  The State of Texas doesn't charge a personal income tax. 

Now, here's the less than good news.  Texas residential property taxes tend to be a bit pricey.

Keep this in mind. The real estate property tax rate is standard for the taxing jurisdiction where a property is located.

So why is it, when neighbors compare their property taxes, they tend to become confused.  They ask questions like, "Why is Joe's property tax so much higher than Jane's, when their houses look the same ?"  

The reason that property taxes seem so different for similar homes is, for the most part, not because the tax rates are different, but because the tax appraised property values are different from property to property.

Also, there will be slight variations in the property tax rate based on the taxing jurisdiction where properties are located.  For example, Joe's property is located in the Northside Independent School District within the incorporated limits of San Antonio. Jane's property is also located in the Northside Independent School District, but in a part of the neighborhood that happens to fall outside the city limits. 

Although both will pay the same Northside Independent School District tax rate, city boy Joe's taxes will also include taxes for San Antonio services that county girl Jane doesn't enjoy.  Consequently, even though Joe and Jane's comparable homes have the same tax appraised value, Joe's property tax will, nonetheless, be higher, because he's getting more services and is subject to a higher overall tax rate.
On the average, a citizen owning a property located in an incorporated Bexar County jurisdiction will pay a yearly property tax that equals approximately 2.7% of the property's appraised tax value.  Home owners in unincorporated areas of the county will usually pay lower property taxes because they enjoy fewer services and, therefore, their basic tax rate is lower.

Texas law requires the local property tax appraiser to reappraise all residential property located within his or her jurisdiction as of 1 January of each year, based on the sales of comparable property during the preceding 12 months. When you become a Texas home owner, you'll receive a property tax reappraisal notice yearly, usually in March or April.

That's the basics for San Antonio, Texas, residential  real estate taxes.

If you need other realty related advice or assistance, we offer the very best.

Click here if you're looking for homes for sale.

Click here 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

Friday, September 24, 2010

Mortgage Loans For San Antonio Physicians

Yes, there are still special mortgage loans for San Antonio physicians and other professionals.

We can refer you to a lender specializing in home financing programs designed specifically to meet the needs of doctors, dentists, medical students, lawyers, and members of similar professions.


Professional mortgage loans feature

■No down payments

■Up to $1,000,000

■No mortgage insurance

■Eligibility for condo financing

■High loan-to-value refinances

Interested? Click for more information.

We also offer the very best in San Antonio realty services.

Click here if you looking for homes for sale.

Click here 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 including information about mortgage loans for San Antonio physicians and other professionals.

It's Happening In Bulverde This Weekend

It's Happening In Bulverde This Weekend is brought to you by Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio.   If you're looking to buy or sell a San Antonio home, go to SanAntonioHomeQuest.com, read our newsletter, or visit our San Antonio military websites at sanantonioarmypcs.com , sanantonionavypcs.com, or sanantonioairforcepcs.com.

Mike's In The Village is the place to go for fine dining in Bulverde.  Here's what's happening at Mikes this weekend.




Bon Appétit,

Chef Mike

PS- Call us at 830-438-2747 to make your dinner reservation.

Go see Chef Mike where it's happening in Bulverde This weekend

Monday, September 20, 2010

San Antonio Mortgage Loan Comment - Week of Sep 20, 2010

Market Comment - Week of September 20th, 2010

(Save Reading Time - Read The Bold Highlights)

Mortgage bond prices rose last week pushing interest rates slightly lower. Tame inflation readings helped to counter the better than expected weekly jobless figures. Core producer and consumer price data was generally bond friendly. The Philadelphia Fed report showed tremendous weakness in that region. Industrial product and capacity use data also came in below estimates, which helped rates improve.

Rates fell by about 3/8 of a discount point for the week.

The Fed meeting Tuesday will be the most important even this week. The housing data the beginning and end of the week can result in mortgage interest rate movements. Expect more volatility, as stocks and bonds are likely to continue their back and forth trading pattern.

Inflation

Inflation is an increase in the level of prices of goods and services over a period of time. Signs of inflation do not generally bode well for mortgage bonds. Inflation erodes the value of fixed income securities generally causing bond prices to fall and interest rates to rise. Tame inflation readings are usually well received.

The mortgage bond market received mixed inflation data last week. The producer price index, a major gauge of inflation at the producer level, rose 0.4%, higher than the expected 0.3% increase. However, the core rate, which excludes volatile food and energy, rose 0.1% as expected.

The relatively flat core producer price figure helps reinforce the belief that inflation remains in check. However, the higher than expected producer price figure supports the opposite conclusion. The consumer price release followed the same pattern. Consumer prices rose 0.3%, higher than the expected 0.2% increase. However, the core, which excludes volatile food and energy prices, was unchanged and lower than the expected 0.1% increase. Tame core inflation readings are generally good for fixed income securities such as mortgage bonds. We saw an example of this Friday morning as bond prices rose and interest rates fell.

If future data echoes that of the core consumer price data, then it is a real possibility that mortgage interest rates can remain low. However, if future data shows inflation spikes be ready for a jump in rates. Floating in this environment is risky. The good news is that mortgage interest rates currently are historically favorable.

This article is compliments of Shannon Collier of  WR Starkey Mortgage, LLP - A different kind of company...where people come first!
12500 San Pedro Ave., Suite 100

San Antonio, TX 78216
Shannon Collier

Senior Loan Officer
Office: 210-545-9300
e-Fax: 866-703-8734
Cell: 210-725-8470
scollier@wrstarkey.com
www.ShannonCollier.com
NMLS# 232124