iTexas Realty Co. Blog

They don't build 'em like they used to!

But, that's OK with me.  Although Steve and I have owned homes built in the 1800's, the 1900's and 2000's, older homes aren't for everyone.  I know that there is something romantic about dreaming of living in an older home, but believe me, if your finances are fixed, sometimes it's not good to have a fixer-upper - even one that doesn't appear to be one at first glance.  

Let's consider what you get with a typical 40 year-old home in San Antonio:

• 40 year old plumbing.
• 40 year old electrical system
• Single-paned windows
• Original insulation
• Out-dated floor plans (no game room and a formal living room)
• Original features

Of course, you also may get:

• More established neighborhoods
• Mature trees and shrubbery
• Closer to older employment centers
• Larger lot sizes
• Original features

You may have noticed that "original features" made the list twice. In older homes, the architecture and lot size are two of the most desired items and a reason to pursue your love of older homes. 

As a Buyer, it's important for you to evaluate the cost of any updates and replacements that you would desire if you purchased an older home.  In a newer home, you could probably forgo those and there are a lot of newer homes in San Antonio.

Just a couple more thoughts: Buyers often think they will earn "sweat equity", by renovating an older home, but that isn't necessarily the case.  Generally, Buyers pay out of pocket for those remodeling costs and that can strain a budget. Even if you have the help of family "in the trade", there will be costs.

Besides, remodeling can put a real strain on your relationship and don't you want to be romancing instead of managing remodeling?  Don't let the dream of "sweat equity", turn into splitting the equity with your credit card company getting the lion's share!  After all, you could be out having fun on the Riverwalk!

If an older home is truly for you, call Steve.  He used to serve on a city Historical Preservation Committee.  He knows all KINDS of obscure stuff and is a great resource for ideas and replacement/renovation cost options. Steve can show you some great San Antonio areas like Alamo Heights, Terrell Hills and Olmos Park where you can find homes n beautiful neighborhoods with some charming features .

*Image used with permission of gifanimations.com

Dramatic Savings, Clearance, Overstocked, Reduced Rates! It's practically Buy 1, Get 1 free!

So, treat yourself, you deserve it, and Don't miss out.

This is the message that is going to Buyers across the country. Some of them are getting excited and planning a purchase.

The Pending Home Sales Index, which is a strong forward indicator of soon-to-be-closed sales, is at the highest level since April of 2010. We love to see trending activity: The fourth week of December had more on-line home-searching activity than the third week. Here at our office we have had more phone inquiries, more internet inquiries, and more calls on our 888 number for automated home information. Combined with the historically low interest rates, 2012 could shape up to be a better year than last.

Stock market analysts advise us not to time the market, but I'm thinking of a different type of "market timing". The timing involved in planning your purchase.

For Sellers: Last year we saw early Buyers, with the summer Buyers dramatically tapering off in July. We are advising those want to get sold this year, to get listed In January or early in February as opposed to late February or early-to-mid March.

For Buyers: More homes coming on the market early may give you a better selection of homes. Additionally, if the market improves substantially in the Spring, Summer and Fall, Buyers may be paying more and that may trickle into 2013 as well. It's too early to tell, but we do advise you to put your plan together, even if your purchase isn't for a year or more, due to job changes or past credit issues. Speaking of credit issues, it's rarely too early to get to work on those and start improving your score. It's a great feeling to have great credit, so if you don't have it now, it's time to get started!

If you're ready to discuss the possibilities or find out abut recent sales (comparables), in a neighborhood; contact us by phone, e-mail or text Sara at 210-823-5501 or Steve at 210-488-4826, and start making a plan by getting the information that you need.

I noticed something disappointing this year - in none of the stores, does anyone wish you a Merry Christmas - or even Happy Holidays. I suppose that it is one of those crazy corporate trends that sweeps our nation from time to time.

 Of course, not everyone celebrates Christmas, and that's a part of life, but  this year ESPECIALLY, I want to add special Christmas cheer to the little things everyday! 

I am doing this by wishing EVERYONE a Merry Christmas!!!

And if you want to wish me Happy Holidays, Happy Hanukah or Happy Kwanza, Thank You and may you and your family be Blessed!

Merry Christmas!!!

After three showings, Steve and I received a silly offer on one of our listings.  This doesn't upset me as silly offers are a part of our business.  Even here in San Antonio Texas, one of the strongest markets with not much price decline in the under $200,000 homes (when compared to the rest of the country), we see Buyers experimenting with "low-ball" offers. Their rationale:

"It doesn't hurt to ask"

Oops, they forgot a word: "NICELY"

IT DOESN'T HURT TO ASK NICELY!

Of course, however they ask, their Realtor® should put their offer in the best possible light and present it TACTFULLY as the Buyers goal is to purchase the property, not actually ANNOY the Sellers (Realtors® aren't often annoyed by graceless demands, we just roll our eyes an move on.  Ok - sometimes we blog about it first...)

When negotiating, I discourage (sometimes one HAS to use them), the following terms:

"best offer"

"final offer"

and avoid like the plague:

"Buyer will not"

"Buyer refuses"

"Seller must"

I am all for candor, but it's not hard to be gracious and since the Buyer and the Seller must agree, the fewer roadblocks put up the more opportunity there will be for that agreement to be signed, executed, and an escrow opened. 

Enter the Godfather: who acted as if the offer couldn't be refused. 

The correspondence that we received regarding the offer was rude, as well as full of demands and ultimatums.  Having spoken with their agent on the phone, I suspect that neither the demands, nor the demanding tone of the offer were representative of the Buyer; but that demanding tone did reflect negatively on that Buyer and their offers were rejected three times.

Buyers (and sometimes their Agents), need to consider that the Seller has the home on the market because they WANT to sell, not necessarily because they HAVE to sell. 

Not every Seller is desperate. 

Not every Seller needs to move. 

Here in San Antonio, it's not unusual for the Seller to own the home free and clear.  THAT'S RIGHT, NO MORTGAGE PAYMENTS - a rarity in other cities, and it's not unusual for the Seller to wait for what they consider a fair offer.  If you can't negotiate using the expertise of your Realtor®, your future may not include living in that beautiful home....

By the way, the Godfather of real estate is a woman.  Who knew?

We DO apologize, but there are times when getting your home shown is something like cookie-making. sometimes you can't tell that there will be nutty things until you bite.

Like the other day; we got a showing request for one of our high-end listings- (the Sellers require us to open the home for other agents, and be there to close it at the end of the showing).  We're glad to do this as it's a very special property (sometimes these homes are not even on the MLS), and we have an opportunity to explain it's features, etc.

Anyway---a Buyer's Agent (a known agent from a reputable firm) called Saturday in the late afternoon to request a two-hour showing window on Sunday.  Trying to shorten the time the Seller would have to vacate their cool, comfortable home in the middle of the hot San Antonio summer's afternoon, we called her office to request a one-hour showing and asked that she call back to confirm.

5 phone calls later, messages left at their office AND on her cell phone on Saturday AND Sunday- the showing window came and went.  On a Sunday afternoon, we stayed in the area all day to communicate with the Seller IN CASE we finally heard anything, eventually we called it quits at 5:30pm.

So... at 5:45, we got another show request, this time through the Central Showing Service, asking if they Buyer's Agent could show the Luxury home "RIGHT NOW".  This home is in a guard-gated luxury home community that is 40 minutes from our office.  We again asked that a message be relayed: "can we show you the home tomorrow? And "would you please call us to confirm?" 

FINALLY! at 6 pm on Sunday, the Buyer's agent called to say she had no messages, "must have been brain dead", and would call again at the end of the week.  No apology.

To our nice Sellers: We DO apologize.

Does it REALLY matter to you?  In THIS market?  Do you REALLY think it indicates SOMETHING?  WHAT? 

Let's think about it:

Does the length on the market indicate anything other than, perhaps, it was a very cool (or hot) (or cold or wet) Spring, Summer, Fall, Winter, and home sales were 'off' for a while?  Maybe the property was not available for showings due to an illness or med school finals? Maybe the Seller decided to replace some old flooring, or finally pained three pink bedrooms a pretty cream color?

Do you ever know for sure? 

Why you even care?

The home we find that is PERFECT for you, is no less perfect if it has not sold yet. 

Maybe it's been waiting just for YOU!

If the home has been on the market over 60 days do you think the seller is more desperate for you to make your 'low-ball' offer? 

Not likely.  After 60 days of vacuuming, cleaning,  and 'fluffing' every day, the Seller may be a little more anxious, but usually not in a mood to let you have an extra $xx,xxx of their money! 

In fact, an unreasonably LOW offer is more likely to get rejected and result in a MORE stubborn Seller because you've offended them. (We hear about this from our Sellers all the time, so we aren't imagining it!)

Let's find the right home for you.

Then, if we can negotiate a price that's good for you, and the Seller agrees to sell it to you -it'll still be JUST Right!

-Steve

Too late to add a Tile Roof to your new home?   When we work with our happy home buyers in the construction of their new homes there are deadlines and time-lines and construction schedules to consider.  In the case of wanting and having a nice tile roof on your new home, the right time to decide is BEFORE you sign a contract- in the planning stage before the home plan has been drawn and submitted for plan approval. 

Usually we will be working with a custom builder who is offering a design that includes a tile roof, but not always- it may be an option you can add on.

A Tile roof is heavy- so the whole home has to be engineered to support the additional weight- and that will affect the building cost.  So- plan ahead, budget for it, and that beautiful Spanish / Mediterranean Tile Roof can be yours!

Want more information about having your next home Custom-Built?