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How Is Remote Work Changing Homebuyer Needs?
With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs.
With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving homeownership needs.
According to George Ratiu, Senior Economist for realtor.com:
“The ability to work remotely is expanding home shoppers’ geographic options and driving their motivation to buy, even if it means a longer commute, at least in the short term…Although it’s too early to tell what long-term impact the COVID-era of remote work will have on housing, it’s clear that the pandemic is shaping how people live and work under the same roof.”
Working remotely is definitely changing how Americans spend their time at home, and also how they use their available square footage. Homeowners aren’t just looking for a room for a home office, either. The desire to have a home gym, an updated kitchen, and more space in general – indoor and outdoor – are all key factors motivating some buyers to change their home search parameters.
A recent realtor.com-HarrisX survey indicates:
“In a June poll of 2,000 potential home shoppers who indicated plans to make a purchase in the next year, 63% of those currently working from home stated their potential purchase was a result of their ability to work remotely, while nearly 40% [of] that number expected to purchase a home within four to six months and 13% said changes related to pandemic fueled their interest in buying a new home.
Clearly, Americans are thinking differently about homeownership today, and through a new lens. The National Association of Home Builders (NAHB) notes:
“New single-family home sales jumped in June, as housing demand was supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs.”
Through these challenging times, you may have found your home becoming your office, your children’s classroom, your workout facility, and your family’s safe haven. This has quickly shifted what home truly means to many American families. More than ever, having a place to focus on professional productivity while many competing priorities (and distractions!) are knocking on your door is challenging homeowners to get creative, use space wisely, and ultimately find a place where all of these essential needs can realistically be met. In many cases, a new home is the best option.
In today’s real estate market, making a move while mortgage rates are hovering at historic lows may enable you to purchase more home for your money, just when you and your family need it most.
Bottom Line
If your personal and professional needs have changed and you’re ready to accommodate all of your family’s competing priorities, let’s connect today. Making a move into a larger home may be exactly what you need to set your family up for optimal long-term success.
San Antonio Home Sales Increased by Double Digits in June
San Antonio area home sales rebounded in June after two months of decreased sales volume in April and May due to the coronavirus pandemic. The San Antonio Board of REALTORS® reported 3,823 homes sold in San Antonio during the month of June, an increase of 14 percent compared to June 2019. The month of June shows an increase in all four categories indicating stability in the market according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.
“The increasing sales numbers display a positive outlook for the housing market in San Antonio and surrounding area, which means we can expect that the remainder of the summer will follow a similar pattern of positive sales,” said Kim Bragman, SABOR’S 2020 Chairman of the Board. “The expansive area of San Antonio, in addition, helps offer a spectrum of homes that also may keep the numbers stable.”
Compared to June 2019, San Antonio’s average price of a home increased by 3% to $292,290. Year-to-date, the average price has shown an increase of 5% to $278,395. Since the start of 2020, there have been 9,089 active listings, and 16,840 total home sales in the city with an average of 64 days on the market. In June homes were on the market for an average of 59 days.
As predicted, June has shown to be a strong buying season. This can be seen by the number of pending sales of homes (3,785). An additional 931 homes are pending from June through July, consequentially resulting in a 32.6% increase. The San Antonio area currently has only 2.8 months of inventory available, making this a strong Seller’s market. While some potential home sellers may have put off listing their home for sale because of COVID-19 there is strong buyer demand due to the current low interest rates and the limited inventory of homes for sale.
If you are thinking of buying or selling a home in the San Antonio metropolitan area, and have questions about buying or selling a home, request your free home buyer or sellers’s guide through the following links – Guide to Selling Your Home – http://www.sanantoniohomeseller.info & Guide to Buying a Home – http://www.sanantoniohomebuyer.info or contact Trudy Edwards, REALTOR with Keller Williams Heritage at http://www.truesarealestate.com
SABOR Multiple Listing Service Report: Home Sales Recap
| SA Home Sales Recap | Jun-20 | Jun-19 | Jun-18 |
| Month Sales | 3,823 (14% increase)* | 3,352 | 3,326 |
| Average Price | $292,290 (3% increase)* | $282,522 | $269,815 |
| Median Price | $251,700 (5% increase)* | $240,000 | $232,600 |
| Avg. Days on Market | 59 (11% increase)* | 53 | 51 |
How Trusted Professionals Make Home Buying Easier to Understand
In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer than they need to, simply because they’re confused about the home buying process. Thankfully, working with a trusted real estate professional can help ease those concerns and make the process to home ownership much easier to understand.
A recent survey conducted by Ipson and Freddie Mac reveals the confidence level of Gen Z and Millennial buyers regarding the home buying process. The graph below shows the breakdown of the top results, clearly indicating there’s a significant portion of younger buyers who are not yet confident with some of the steps in the home buying process.Between the homebuying process and the mortgage process, there are 230 possible steps in the transaction. With trusted professionals on your side, you certainly don’t have to know them all to have a successful experience.
There are many reasons why these steps can change as you move through each one. Depending on your personal circumstances, the term or your mortgage, and the type of loan you use, the path you take may need to vary. That’s why guidance and support from the experts is key.
In addition to the process itself, respondents in the survey definitely expressed concerns about understanding the types of loans available. Here are just a few of the basic loans to consider. Be sure to speak with your lender about the specifics of what will work best for you:
- FHA: Loans guaranteed by the Federal Housing Administration for first-time buyers. They generally enable qualified borrowers to enter the housing market with a lower down payment.
- Conventional: Loans that usually require a larger down payment. Repeat buyers usually use these types of loans since they have an established credit history as well as more money from the sale of their previous home (called equity) for a bigger down payment.
- VA: Loans available for Veterans of the U.S. Armed Forces and their spouses. They are guaranteed by the Department of Veteran Affairs.
- USDA: Loans for those living in rural and suburban areas. A qualified lender can issue a USDA home loan, and they are guaranteed by the United States Department of Agriculture (USDA).
Interest rates also popped up as a common area of confusion among Gen Z and Millennial respondents in the survey. With today’s rates hovering at near historic lows, it’s a fantastic time for buyers to get more house for their money in the current market. Why? When mortgage rates are this low and wages are increasing as they are today, overall affordability increases, enabling home buyers to stretch their mortgage dollars further. It’s just another area where a trusted professional can help simplify the process and give guidance along the way.
Bottom Line
There are many possible steps in a real estate transaction, but they don’t have to be confusing. If you are thinking of buying a home in the San Antonio metropolitan area, and want to work with a trusted advisor throughout the process, contact Trudy Edwards, REALTOR® with KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.
San Antonio 2020 Home Sales Start the Year Strong
The San Antonio area housing market started the year with a 16 percent year-over-year surge in sales in January with a total of 2,078 homes sold during the month according to the latest Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS.
This growth in sales was accompanied by increases in both the average and median prices, with the average sales price rising eight percent to $267,792 and the median increasing six percent to $229,400. The month ended with 2,554 sales still pending with just 3.3 months of available inventory on the market.
While it’s typical to see a slow down in sales in the winter months, the San Antonio area continues to attract home buyers at all times of the year. With so much to offer like great schools, a stable economy, and a booming job market, it’s easy to see the San Antonio market is thriving.
In January, 36.6 percent of the homes sold were priced under $199,000 while 57.2 percent were priced between $200,000 and $499,000. The remaining 6.2 percent were homes sold over $500,000.
In Bexar County, home sales increased 14 percent over January 2019 for a total of 1,504 homes sold with an average sales price of $249,022, a five percent increase year-over-year. Months of inventory in the county remained low at 2.8 months while the price per square foot inched up 4.9 percent to $120. Texas as a whole experienced significant increases year-over-year with nearly 15 percent more homes sold in January 2020 than in 2019. In fact, a total of 19,323 homes sold in just the first month of the year. The average price statewide rose six percent to $282,296 while the median grew 5.4 percent to $235,000.
Even with the steady home price increases San Antonio has seen over the past several years San Antonio has remained more affordable than other major cities in Texas. This affordability means that home buyers can achieve their dreams of homeownership and still be able live in a major metropolitan area with all the attractions and benefits that San Antonio has to offer.
| San Antonio Home Sales Recap* | Jan-18 | Jan-19 | Jan-20 |
| Total Month Sales | 1,760 (4% increase) | 1,793(2% increase) | 2,078 (16% increase) |
| Average Price | $244,571 (2% increase) | $248,007 (2% increase) | $267,792 (8% increase) |
| Median Price | $210,700 (8% increase) | $216,800 (3% increase) | $216,800 (3% increase) |
If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to work with a trusted San Antonio REALTOR® throughout the process, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.
Having a Professional on Your Side Makes All the Difference!
In today’s fast-paced world where answers are a Google search away, there are some who may wonder what the benefits of hiring a real estate professional to help them in their home search are. The truth is, the addition of more information causes more confusion.
Shows like Property Brothers, Fixer Upper, and dozens more on HGTV have given many a false sense of what it’s like to buy and sell a home.
Now more than ever, you need an expert on your side who is going to guide you toward your dreams and not let anything get in the way of achieving them. Buying and/or selling a home is definitely not something you want to DIY (Do It Yourself)!
Here are just some of the reasons you need a real estate professional in your corner:
There’s more to real estate than finding a house you like online!
There are over 230 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to ensure you achieve your dream?
You Need a Skilled Negotiator
In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.
What is the home you’re buying or selling worth in today’s market?
There is so much information on the news and on the Internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?
Dave Ramsey, the financial guru, advises:
“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”
Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.
Bottom Line
Today’s real estate market is highly competitive. Having a professional who’s been there before to guide you through the process is a simple step that will give you a huge advantage!
If you are thinking of buying or selling a home in the San Antonio metropolitan area, and want to work with a trusted San Antonio REALTOR® throughout the process, contact Trudy Edwards of KELLER WILLIAMS Realty Heritage, at (210) 595-9801, or by email at TrueSARealEstate@gmail.com.
Prospect Creek at Kinder Ranch Offers Luxury and Energy Efficiency
Sitterle Homes is building High Performance new homes in Prospect Creek at Kinder Ranch, San Antonio
Kinder Ranch is a master planned community in the foothills of the Texas Hill Country. Located north of San Antonio, off of State Highway 281 and Borgfield Road, this gated community currently includes Willis Ranch, Prospect Creek and Prospect Creek Estates.When complete, the community will have a Junior Olympic swimming pool, a playground, sports court, walking trails and a soccer field. The community is in the Comal County Independent School District and is currently served by Kinder Ranch Elementary School, Spring Branch Middle School and Smithson Valley High School. A middle school and high school are both planned for construction within the community.
Sitterle Homes in Prospect Creek at Kinder Ranch – Sitterle Homes, is currently building its luxurious, Vintage Series homes in Prospect Creek at Kinder Ranch on 55’ or 65’ wide lots with floor plans ranging from 1852 square feet to just over 3400 square feet with prices starting at $230,000.
In addition to elegant architecture, quality materials and craftsmanship, Sitterle’s High Performance Homes offer many energy efficiency features such as open cell sprayed foam insulation in the attic space, a TRANE 15 SEER rate Air Conditioner, a High Efficiency gas furnace and Low-E windows.
David Weekley Homes in Prospect Creek at Kinder Ranch – Energy efficiency is also a key feature of David Weekley’s EnergySaver Homes at Prospect Creek at Kinder Ranch. Incorporating advanced framing techniques to create R-19 insulated exterior walls, R-38 and R-22 batt insulation in the ceiling, with a TRANE 16 SEER and natural gas furnace and LoE windows, all David Weekley Homes at Prospect Creek at Kinder Ranch will be Energy Star® certified and receive a HERS® Index rating for estimated energy usage.
David Weekley is currently offering a wide selection of one story and two story homes at Prospect Creek at Kinder Ranch, with floor plans from 1785 to just over 3000 square feet priced from the $230,000s.
Both David Weekley and Sitterle homes offer floor plans that can be customized with your selection of desired features including media room, children’s retreat, sunroom and 3 car garages.
If you are looking to build or buy an energy efficient new home in the San Antonio area, and would like more information about San Antonio communities and the home buying process, contact Trudy Edwards, for additional home buyer resources.
San Antonio Real Estate info 