Monthly Archives: July 2011
San Antonio Continues Upward Trend in Real Estate and Job Growth
The San Antonio real estate market is maintaining its healthy position
as average and median prices for single family home sales in San Antonio increased by 5.6% and 3.7% respectively over April 2011 numbers.
In a June report compiled from Multiple Listing Service data, the San Antonio Board of REALTORS® (SABOR) also reported that Single family home sales climbed in May, with a 19.3% increase over April 2011.
The average price for single-family homes in San Antonio in May 2011, was
$191,750 and the median sales price for single family homes in San Antonio rose to $153,400 in May 2011.
“The recent market numbers prove that homeownership in our city is a great personal investment,” said Angela Shields, President and CEO of SABOR. “Sellers are benefiting from the increased equity in their homes as a result of rising prices, but prices are still reasonable enough for buyers to enter the
San Antonio continues its strong showing for economic stability, most notably with recent news about new jobs coming into the city. Kohl’s Department Stores recently announced that it will create 700 to 800 customer service jobs
in addition to the over 1,000 positions previously slated to be filled within the next two years.
The Alamo City also ranked among the four Texas locales on TheDailyBeast.com’s list of best cities for recent college graduates. The ranking considered such features as cost of living, unemployment rate, and average per capita personal income.
Scott Caballero, 2011 SABOR Chairman of the Board commented on the report saying “Job growth is among the factors we watch to determine the health of our marketplace. San Antonio’s level of job growth and its recognition as a great place for graduates entering the workforce is evidence that we have an economy that supports home ownership.”
If you are looking to buy or sell a home in the San Antonio metropolitan area, please visit my website at www.truesarealestate.com to see homes for sale, or to sign up for a complimentary market analysis for your home.
If you are having difficulty making your mortgage payments or are at risk of falling behind in your mortgage payments you, there may be help for you to enable you manage your payments and stay in your home. To explore your options you should first visit the government website www.makinghomeaffordable.gov to find out if you can take advantage of the “Making Home Affordable” program. You may be eligible for special refinancing or loan modification if your mortgage company is participating in this program. You can find out if your loan is eligible for refinancing or modification by going to http://www.makinghomeaffordable.gov or by contacting Fannie Mae, at 1-800-7FANNIE (8am to 8pm EST) www.fanniemae.com/loanlookup or Freddie Mac 1-800-FREDDIE (8am to 8pm EST) www.freddiemac.com/mymortgage
You don’t have to be behind on your mortgage to seek help with this program. If you have a loan that is an adjustable rate mortgage, a balloon note or a high interest rate you may be able to refinance at a better interest rate. Or if you are experiencing a financial hardship due to a loss of income since you obtained your loan, you may be eligible for a home affordable loan modification. If you qualify for the loan modification option, participating lenders may even be able to reduce your first lien mortgage payments to no more than 31% of your gross income, by either reducing your interest rate, increasing the term of the loan or by a forbearance. Go to www.makinghomeaffordable.gov today to see if you may be eligible for loan modification or contact your lender and ask if they are participating in “the Home Affordable Modification Plan” or HMP.
Visit www.knowyouroptions.com to explore your options
If you are a homeowner and are already 90 days behind on your your mortgage payments you may be able to get help through the Emergency Homeowners’ Loan Program. This program is only available for a limited time so you must act quickly. To learn more go to Emergency Homeowners' Loan Program or cal 1-888-995-HOPE today to learn more and speak to a housing counselor to discuss your options.