iTexas Realty Co. Blog: January 2012

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.