When inventory is tight, it can be hard to find properties that match what you are looking for, and there’s a lot of competition with other buyers.
Buying a new construction home might be a good option for you. You can choose from multiple sizes and floor plans, customize the details and can often get financing incentives. One thing to keep in mind – you need to have a bit of patience with your moving date. Since the houses haven’t been built yet, they won’t be ready for you to move into right away.
As with regular resale properties, it’s helpful to have a real estate agent representing you and your best interests! The seller pays my commission, so you don’t need to. In return, you will get someone advocating for you when you are making an offer and throughout the escrow process.
Let me know if you’d like me to send you a list of new home communities in the areas you’re looking in. I’d love to help you find a good match!
I still see many buyers still requesting the seller to pay all of their closing costs when purchasing a house not even considering the amount of closing costs the seller is responsible for paying on their end. This of course, all started when the government wanted to stimulate the economy and give buyers money several years ago. Well, the government is not doing this any longer and buyers now expect sellers to take on that roll.
When a buyer purchases a property they can expect an estimate of 3% of the sales price in
closing costs…this does vary with each lender and getting with a lender or a REALTOR® to go over a better estimate should always be your first point of contact.
When a seller sells their property their closing costs can come to 9% of the sale price. If they paid both, you are looking at 12% off of their estimated net; which in some cases leaves them very little in their investment.
Homeownership is a great thing and everyone deserves a home; however buyers should have some skin in the game without thinking they can just move in with someone else paying the bill. What are your thoughts?
Posted in Housing in San Antonio, TX, Mortgages, Real Estate, Texas REALTOR, Uncategorized
Tagged buy houses, buyers, houses, Houses for Sale, loans, mortgages, Sellers
HB 2083 will take effect January 1, 2016, which is an important step toward a more consistent, fair, and transparent appraisal-appeal process. Now property owners who appeal their appraisals using equal and uniform protests must use generally accepted appraisal methods and techniques if they claim the property was a appraised higher than comparable properties. Also, property owners can now use properties in other counties as comps if their aren’t enough comparable properties in their own county.
The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.8% (most pessimistic) and 26.7% (most optimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for years.
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have started to inch up, most experts predict that they will begin to rise even more over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be up approximately three quarters of a percentage point over the next 12 months. An increase in rates will impact YOUR monthly mortgage payment.
San Antonio’s May’s average sales price was $246,772, a 10 percent increase from last May and a figure that has remained above $200,000 since February 2014. Meanwhile, the median sales price climbed above $200,000 for the first time with a price of $202,500.
Waiting no longer makes sense if you are considering to sell and or buy a new house.
Posted in Uncategorized
Tagged buy houses, buyers, For Sale, house prices, Houses for Sale, mortgages, San Antonio, san antonio homes, san antonio houses, San Antonio Real Estate, Sellers
Sales of single-family homes in San Antonio showed a 13 percent year-over-year increase in April with the majority of sales taking place in homes priced under $200,000, according to figures in the April 2015 Multiple Listing Report by the San Antonio Board of REALTORS® (SABOR). Days on market plummeted 18 percent to just 59 days while months of inventory rose slightly to 3.8 months from 3.6 months in March. April’s average price edged up six percent year-over-year to $224,426 and the median price rose seven percent to $189,300.
According to Realtor.com, the increases seen around the country in prices are correcting for severe price declines in the recent past. These higher prices are to be expected as the economy improves. Home sales have strengthened as more buyers have entered the market during the spring buying season, and sustained job growth and interest rates below four percent have also been a catalyst behind the improvement in sales.
Growing prices coupled with low supply have not deterred local buyers who continue to flood the market seeking their dream homes. In April, the month ended with 2,390 sales still pending, a 13.6 percent increase from April 2014. Price per square foot rose five percent to $103 and 97.5 percent of homes sold for list price.
Though homes priced under $200,000 continue to make up the majority of the city’s sales with 54.21 percent in April, this is still nearly six percent less than April 2014. Meanwhile, homes priced between $200,000 and $500,000 grew 5.6 percent year-over-year to make up 41.58 percent of April’s market and homes priced over $500,000 increased 0.1 percent to a total of 4.13 percent of sales.
The information is not guaranteed by Trudy Pape, REALTOR® and she nor Coldwell Banker D’Ann Harper REALTORS® are responsible for any errors or omissions. Information courtesy of The San Antonio Board of REALTORS®. (SABOR).
San Antonio Board of REALTORS® Housing Forecast was January 8, 2015.
According to guest speaker Mario Hernandez, President of the Economic Development Foundation, the population of San Antonio increased 2.04 percent from the previous year. That is a phenomenal increase for just one calendar year but the good news is that means more home buyers. Hernandez also revealed a 2.62 percent increase in job growth over the last year and a drop in the unemployment rate from 6.5 in 2012 to 4.3 currently. Hernandez also shared that San Antonio is the seventh largest city in the United States and our cost of living is 9.2 percentage points below the national average.
Housing Market statistics for a look back at the year was presented. As of the end of November, a total of 22,655 homes have been sold in the city. That’s a four percent increase from the previous year. Days on market dropped to just 68 days, which is down seven days from 2013.
Dr. Mark Dotzour of the Real Estate Center at Texas A&M provided valuable information as always to include that 6.5 months of inventory is the national average instead of what is normally quoted as 6 months. San Antonio is currently below that number with 3.9 months of inventory. Dr. Dotzour’s suggestion was the need to build more homes. If home prices are going up and there is more housing inventory then the market is good.
All in all the message was it is “great” to live in San Antonio where the economy is good and growing. With affordable housing and low cost of living we are in the perfect place. That being said if you are considering to sell you house now is a great time to do so. Interest rates are still low with more incentives for first time home buyers being considered this year. There are many buyers out there looking for a house and just can’t find any. You can’t go into a store and buy something if the shelves are empty.
Definitions of “small” and “large” vary among the state’s seven regions, but a purchase of less than 200 acres is generally considered a small land sale. Here are a few highlights from the report:
- Texas saw 4,189 small land purchases last year.
- Median tract size was 20 acres.
- The average price per acre was $4,849.