iTexas Realty Co. Blog: November 2009

The San Antonio, Texas housing market continues to be resilient.

In the best-selling price range of $125,000 to $200,000, the pace of sales has been steady, but the 'Months of Housing supply' has dropped from 14.48 in the first quarter of this year to 7.79 this most recent quarter (ending September 30, 2009).  (fewer homes are being put on the market - down 12% from Q2 to Q3).  Meanwhile, the median DOM (days on the market) numbers have dropped from 53 in the first quarter, to 43 in the second quarter, to 38 this most recent quarter- good news for Sellers.  Also, sales prices have averaged in a slight increasing trend this year.

One cautionary note however: Buyers are almost universally asking for (and getting), seller contributions for closing costs of anywhere from 1% to 4% ‘at close'.

The $8,000. "Tax Credit" has been most effective in the best-selling price range ($125,000 to $200,000), which also points to the figures remaining steady.  There has been some talk that the market is being artificially sustained by the tax credit, (Which has just been extended). We will now see if there is a ‘carry-over' effect on sales as we look for Buyer sentiment to improve as with the stock market rebound of over 50% since March.

San Antonio continues to be one of the best places in the US to buy a home and we expect more activity as the military relocates all of their medical training to local bases, companies continue to move their operations to this favorable business climate, and retirees from everywhere flock to San Antonio (although more slowly than in 2005), for San Antonio's lower cost of living and high quality of life!

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The other day as Steve and I were out previewing some new north-west San Antonio neighborhoods for out-of-town Buyers, we came across this unusual sight on one of the builder's lots.

Although Buyers frequently comment that they would like to see wildlife near their home,  they are usually thinking of deer!  Perhaps they'd compromise on something a bit more domestic (though no doubt, undomesticated!) .... 

Just goes to show, you never know about the NEIGHBORS!

4015 ALBRIGHT, SAN ANTONIO, TEXAS 78247 is Now Closed!

This updated 3 bedroom, 2 bath single-story home was on the market for $148,000, with the Seller offering $3,000 toward the Buyer's Cosing Costs.

It was only available for only a short time and went under contract. Extensive laminate flooring, decor neutrals 2" blinds, and 20" tile are just some of the recent updates.  The yard has mature trees and easy-care landscaping.

The popularity of the Oak Ridge Village neighborhood (in the desirable Thousand Oaks area), is largely due to it's well-kept homes, beautiful Amenity Center with a pool, park and party room; and is good commute to Randolph AFB and Ft. Sam (BAMC) and other employment centers.  Oak Ridge Village is also near conveniences like grocery shopping at HEB and a variety of great restaurant and other services.  Highly-rated NEISD schools are just one more plus!

If you are looking for help buying a great home in Oak Ridge Village or another beautiful San Antonio area neighborhood, we'd be pleased to put our expertise to work for you!