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San Antonio Area Home Sales Increase in First Quarter 2016

The San Antonio area housing market continues to pick up steam with 5,911 homes sold in the first quarter of 2016. This is a 10 percent year-over-year increase in the number of sales according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.mkt-stats-graphic-0316sm

The average sales price for the quarter rose three percent to $227,971 while the median sales price increased four percent to $192,900. In just the month of March, sales increased 14 percent for 2,523 homes sold.

“As we head into the spring, it is common for sales to increase. The weather is warmer and people want to beat the summer buying frenzy,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “We ended the month with 2,439 sales still pending, more than we had at our peak last year. This increased activity sets us up for a busy spring and summer.”

Since January, home sales across the state increased as well with sales jumping 8.1 percent for a total of 60,778 homes sold with an average sales price of $246,427, a 2.7 percent increase. In Bexar County, sales rose 13.2 percent for 4,596 total sales this quarter. The average price of a home sold in the county was $217,798, a 3.9 percent year-over-year increase.

In the San Antonio and surrounding areas, just over half the homes sold since January were priced under $200,000 with this segment making up 53.56 percent of sales. Homes priced between $200,000 and $500,000 made up 42.12 percent of the homes sold and homes priced over $500,000 accounted for 4.31 percent of the sales this year.

“Our prices continue to be affordable, particularly when compared to other large cities in the state and nation,” said Angela Shields, SABOR’s President and CEO. “We are fortunate to be in an area that offers all the amenities of a big city but with housing available at a broad range of prices. There is something for everyone here.”

If you’d like help finding the home that is right for you or if you need to sell your home before making a move, it pays to work with a REALTOR who knows the San Antonio area market. Contact Trudy Edwards, of Keller Williams Realty, at (210) 595-9801 or TrueSARealEstate@gmail.com to help make your next move.

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San Antonio Reports Steady Home Sales Growth Feb. 2016

San Antonio Area Housing Market Reports Steady Growth in February 2016

San Antonio and surrounding areas continued to experience considerable growth in the housing market with February 2016 reporting a 10 percent year-over-year increase in total sales compared to February 2015.

According to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS, a total of 1,889 homes were sold in the area during February 2016. Prices maintained a steady rate of increase as the average sales price reached $228,992, a four percent (4%) increase and median price inched up just one percent (1%) to $190,400.

“Our price increases remain pretty even which is a good sign of our market’s stability,” said Bob Jacobs, SABOR’s 2016 Chairman of the Board. “While months of inventory remains low at 3.6 months, there are still enough homes available to keep prices from driving up like they do in other parts of the country, consistently making this an affordable area to live in.”

In Texas, a total of 19,013 homes were sold in February, a 9.9 percent increase. Average sales price rose slightly by 2.1 percent to $243,418 while the median edged up 4.3 percent to $195,000.

Meanwhile, Bexar County experienced a 10.6 percent increase in total sales for 1,431 homes sold. The average price of a home sold in the county increased 4.5 percent to $218,736 and the median price had a slight decline of 0.7 percent to $180,000.

In the San Antonio area, the majority of homes sold were priced under $200,000 with those sales making up 54.47 percent of the homes sold in February. Homes priced between $200,000 and $500,000 accounted for 40.92 percent of the month’s sales and 4.55 percent of the homes sold were priced over $500,000. Homes in the San Antonio area spent an average of 71 days on the market, four days fewer than in February of 2015. The average price per square foot was $106 and the month ended with 2,184 sales still pending.

“We had 3,087 new listings in February alone which is over three hundred more than this time last year,” said Angela Shields, SABOR’s President and CEO. “We continue to see a steady stream of people entering the housing market and taking advantage of the low rates and available inventory. For anyone who has been on the fence about buying and selling, this is a great time to get started.”

If you are thinking of buying or selling a home in the San Ant0nio area and would like to receive a no obligation consultation with an experienced REALTOR® to discuss the real estate market in more detail, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage at (210) 595-9801 or TrueSARealEstate@gmail.com.

 

The 7 Most-Needed Repair Tips Every Homeowner Should Know

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Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®

3 Things to Consider Before Going FSBO

Before You FSBO

What a Homeowner needs to know before going FSBO

If you’re looking to sell your home in the near future, you may feel inclined to list it as a For Sale By Owner (FSBO) before working with a REALTOR®.  For some, this is considered one good way to cut back on costs to try earn a little more profit on the sale.

However, there are certain aspects you may want to consider before going down this path.  Statistically, over 80% of homes For Sale By Owner end up being listed and sold with a REALTOR®.  Therefore, it pays to take the time to fully assess whether or not this is the right plan of action for you.

Properly Marketing Your Property

First of all, listing a home for sale can be a very time consuming and difficult process.  Unfortunately, this typically is not as easy as posting a sign in the yard and setting up a classified ad in the local newspaper.  There is certainly a lot more than meets the eye.

For instance, many FSBO websites will tout that you can obtain a wide exposure to buyers nationally, but this pales in comparison to the results that you can expect from big named sites like Realtor.com, which only agents can post to.

Next, your agent will have a lot of expertise with implementing online real estate marketing strategies that will gain you locally targeted searches.  In fact, nearly 90% of all home searches start online today.

REALTORS® will also have a strong network of both agents and buyers that they work with on a regular basis.  This is a business where it pays to network.  More contacts equals greater exposure.

Asking Price & Showings

For starters, a lot of FSBO’s will start at the wrong asking price.  This is by far one of the most important factors that goes into marketing your home, so you want to do this properly off the bat.  But, without being fully invested in your local market and understanding the current trends and market data it can be difficult to price the home accurately.

As alluded to in section one, selling a home can be a lot of work.  Most individuals these days have to juggle a full time job, family obligations, recreational activities, household chores, etc.  Where do you find the time for fully investing into the sale as well?

When the opportunity arises for interested parties to view your property, you need to be available to schedule individual showings, open houses, inspectors, appraisers, etc., while also trying to stage and maintain your property’s appearance.  Miss out on a good opportunity for matching schedules and you can quickly lose interest.

Negotiations & Contracts

If you get to the point where you negotiate with a buyer, it is much more difficult to handle this aspect without a qualified agent.  Selling your home can be a very emotional undertaking, so it is easier to set unrealistic expectations, or to even concede on more than necessary when you don’t have a third party as a buffer.

During most real estate transactions, both the buyer and seller will typically have a set of concessions and contingencies.  For a majority of buyers, they will expect to have some type of a financing, and inspection contingency.

This is set up for their protection, in order to complete their due diligence on the home before moving forward to closing.  If other issues are found, this may even been grounds for further negotiation or eventually walking away from the deal.

You may be faced with a situation where you will be expected to lower the price, fix the issue or offer a concession on something else in order to alleviate the problem.  Likewise, you want to ensure that the buyer is not overstepping their boundaries or that you are pressured into giving away more than is reasonable.

In summary, it’s worth taking the time to carefully consider these 3 areas before making any final decisions.  If you still decide to take the FSBO route, we sincerely wish you great success.  However, if you want to discuss the benefits of working with an experienced agent with the tools, technology and resources to sell your home quickly, contact a REALTOR® today.

 If you are looking to sell a home in the San Antonio, Texas area, contact Trudy Edwards with Legend Realty Group, KELLER WILLIAMS Realty Heritage to schedule a complimentary home seller consultation.

Also, please feel free to share this information with a friend and bookmark this page for future reference as well!

San Antonio Home Sales Are Up as Mortgage Rates Continue to Drop

If you are thinking of buying or selling a home in San Antonio, this is a good time to be in the market. The San Antonio Board of REALTORS® (SABOR ) recently reported a 7 percent increase in September sales compared to the same month in 2011, according to the September 2012 Multiple Listing Service report by). The average and median prices for September are also up, both showing a 2 percent increase from last year.

“Sales in the midrange of prices ($200,000 to $500,000) have been up the last several months, peaking in June,” Liza Reyes, SABOR Chairman of the Board, said. “This month, a good portion of sales continued to occur in this midrange, which kept prices higher and on par with previous months.”

Locally, the total number of homes sold has steadily increased in 2012, with only a small taper in September after the summer boom. However, the comparative increase in sales, with 1,683 homes sold in San Antonio in September 2012, compared to 1,534 in September 2011, confirms that the local housing market is holding steady.

Mortgage rates this month at or around 3.49% are back at record lows. The decline in the 30-year fixed rates is partially due to a result of the Federal Reserve’s recent move to buy $40 billion of mortgage-backed securities each month until the job market improves. As a result, mortgage applications for refinancing and home purchases increased across the nation.

Home buying affordability remains high for home buyers who buy now while rates are low.

Setpember 2010 September 2011 September 2012
Total Month  Sales 1,391 1,534 1,683
Average Price $185,778 $190,211 $192,594
Median Price $149,900 $152,500 $157,900

For more information about buying or selling a home in the San Antonio area, contact San Antonio real estate resource, Trudy Edwards of Legend Realty Group, KELLER WILLIAMS Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com for a complimentary consultation.

San Antonio Housing Market Breaks Records

The June 2012 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR) revealed that San Antonio home shoppers went on a buying spree in June, sending sales volume and pricing up accounting for the highest sales, average and median price in four years.

Average and median prices broke records while volume of sales reached the highest level since June 2008. Sales of single-family homes increased 4 percent compared to the same month last year.

“Both buyers and sellers are reaping the benefits of an extremely healthy and robust real estate climate in San Antonio, driven largely by continued job gains that have been responsible for drawing many new consumers to this market,” said Liza Reyes, Chairman of the San Antonio Board of REALTORS®. “Buyers are able to take advantage of the lowest interest rates in history as they shop for homes, and we’re also hearing accounts of sellers receiving the asking price for their homes and even multiple offers.”

Strong sales activity among homes from $200,000 and up pushed average and median pricing. The June single-family home median price —the figure at which half of the homes sold for more and half sold for less —rose 8 percent year-over-year to $168,800, the highest level since 2007 in San Antonio. The average price rose 9 percent to $209,820, the highest since 2007.

June 2010 June 2011 June 2012
Total Month  Sales 1,859 1,946 2,018
Average Price $190,753 $192,514 $209,820
Median Price $153,400 $156,500 $168,800

The number of available properties, or active listings, at the end of June declined nearly 15 percent from June 2011. The inventory of single-family homes dipped to 6.9 months compared to 8.3 months one year earlier. That means that it would take nearly 7 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is aligned with the national inventory of single-family homes of 6.6 months reported by the National Association of REALTORS® (NAR).

SABOR President and CEO Angela Shields credited the strength of the housing market to “San Antonio’s continued job growth, affordability and low interest rates.”

For more information about buying or selling a home in the San Antonio area, contact San Antonio real estate resource, Trudy Edwards of Legend Realty Group, KELLER WILLIAMS Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com for a complimentary consultation.

Solar Home Community Opens in Northwest San Antonio

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Meritage Homes just opened a new community of new construction homes where solar panels and energy efficient construction comes as standard. The community of Providence is a gated community of 40 homes, tucked away in a quiet area of northwest San Antonio with easy access to South Texas Medical Center, Interstate Highway 10 and recreation areas such as the Leon Vista Trailhead and OP Schnabel Park.

What is so exciting about this community is that the Meritage built homes will have solar panels installed as standard. Not only are they installing solar panels as standard, but instead of installing regular Photovoltaic (PV) solar panels, which only convert about 15% of the solar energy into power, Meritage Homes is installing the revolutionary Echo Solar System which is reported to be 50% efficient.  The Echo solar system is more efficient because it uses the solar panels to both generate electricity and capture the thermal energy.

These energy efficient Meritage Homes at Providence also include, spray foam insulation throughout the exterior walls and the attic, providing a tight building envelope. WaterSense efficient fixtures and dual flush toilets help to reduce your water consumption by 50%. Low-E vinyl windows help to keep the sun’s heat from coming into the home and ENERGY STAR® appliances also contribute to reducing the home’s overall energy consumption.

Notable Standard Features at Providence Include:

  • Echo Solar System
  • Solar Water Heater with 120 Gallon Tank
  • Spray Foam Insulation
  • Dual Flush Toilets
  • Taexx built-in Pest Control System
  • PEX®Plumbing
  • 14 SEER Air conditioning System
  • Low-E Windows
  • Energy Star® appliances

Homes being built in this community are available in 7 different floor plans which range from a 3 bedroom, 2 bath, 1515 square foot one story all the way to a 5 bedroom, 2.5 bath, 2797 square foot two story plan.

If you are interested in buying a home in Providence, or would like to learn more about buying a new home in San Antonio, please do not hesitate to contact me at truesarealestate@gmail.com or (210) 595-9801 to discuss your home buying needs.

Trudy Edwards, REALTOR® , Legend Realty Group, KELLER WILLIAMS Realty Heritage 2338 N. Loop 1604 W., Ste. 120 San Antonio, TX 78248

San Antonio Home Prices Continue on Upswing

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San Antonio Real Estate continues on uspswing

 San Antonio Continues to buck the national trend for home prices as local average home prices continue on an upswing.

The San Antonio Board of REALTORS® recently released report of MLS home sales statistics for February 2012 shows San Antonio home prices are continuing an upward trend.

In February 2012, the average home price was $183,955 a 3 percent increase from the same month last year. Median home prices remained stable at $147,100, a 1 percent decrease over February 2011.

“We’re glad to see that home prices are holding strong,” SABOR President and CEO Angela Shields said. “Considering the latest reports on other cities, we’re proud that San Antonio continues to prove itself time and time again as a city that’s making strides.”

Shields cites the recent residential price index by FNC Inc. which notes that U.S. home prices fell 0.7 to 1.1 percent in December in the top ten housing markets. Yet at the end of 2011, only homeowners in Houston and San Antonio had seen their property values rise above 2007 peak levels. San Antonio home prices continue to stay strong; the recently reported average price for February 2012 grew 3 percent over a year ago.

Job growth, affordability and low interest rates are all key indicators to the strength of the San Antonio housing market, Shields said. According to a report from the Bureau of Labor Statistics, San Antonio ranked in the top 10 metro cities with projected job growth through 2020. The 15

 

year fixedrate mortgage reached a new alltime low last week, while the 30year mortgage edged to matching its record low, according to Freddie Mac’s weekly mortgage market survey.

“When coupled with its supportive economic climate, San Antonio is a great place to work, live, and do business,” said Liza Reyes, 2012 SABOR Chairman of the Board.

The San Antonio Board of REALTORS

Key Statistics

 

– Average price for singlefamily homes in February 2012, 3 percent higher than a year ago.  $183,955

– Median price for singlefamily homes in February 2012. $147,100

– Total number of singlefamily residential home sales in February 2012, 12 percent higher than a year ago. 1,243

– The number of pending home sales in February 2012. 1,456

If you are considering buying or selling a home in the San Antonio area, contact your local real estate resource, Trudy Edwards of KELLER WILLIAMS Realty Heritage at (210) 595-9801 or truesarealestate@gmail.com for a complimentary consultation.