August is here and the sun is beating down with a vengeance. The dog days are barking. School is 3 weeks away and vacations are wrapping up. I want to update you on the latest real estate & mortgage news.
But first, I have several listings that you might want to see, might possibly be interested in, or know someone who is looking to buy. They are:
1. 4 acre residential lot on Pleasanton Rd, MLS # 828894, $59,900
2. .67 acre residential lot in Beverly Hills subdivision, MLS # 781890, $25,000
3. Bank Foreclosure, good starter home or investment, MLS # 850502, 9735 Vale Dr, $55,000, 2-1, 1060SF
4. Residential house, 16407 Drum Oak in the Gardens of Canyon Oaks, MLS # 823188, 4-2.5-2, 2300SF, $152,900,
See the virtual tour at: http://intouchtours.com/listing.asp?nobiz=1&idx=30755&us=79527.45
5. Residential house, 3247 Monarch in the Terraces of Encino Park, MLS # 829504, 4-4-2, 4100SF, $374,900,
See the virtual tour at: http://intouchtours.com/listing.asp?nobiz=1&idx=30608&us=79527.23
View these and other listings at www.JJRodriguez.com,
___________________________________________________________________________________________________________________________________
Interest rates continue at their all time lows. The week ended with 30 yr fixed rates hovering around 4.375-4.500%, APR 4.69%, 15 year rates are around 3.875-4.00%, APR 4.219%. What a fabulous time to buy, or refinance. Did you know going from a 30 year mortgage to a 15 yr mortgage will save you hundreds of thousands of dollars over the duration of the loan? It’s worth it to get an analysis to see if this might benefit you.
__________________________________________________________________________________________________________________________________
These are single family homes for sale as of today August 2, 2010
|
Price range (K’S) |
# of homes for sale |
|
1-99,999 |
2100 |
|
100-199,999 |
5184 |
|
200-299,999 |
2370 |
|
300-399,999 |
1119 |
|
400-499,999 |
579 |
|
500-599,999 |
369 |
|
600-699,999 |
236 |
|
700-799,999 |
160 |
|
800-899,999 |
128 |
|
900-999,999 |
77 |
|
1M-1.99M |
237 |
|
2M-2.99M |
27 |
|
3M-3.99M |
8 |
|
4M-4.99M |
2 |
The table below shows sales for July 2009 compared to July 2010
|
Price range |
July 2010 |
July 2009 |
|
1-99,999 |
238 |
371 |
|
100-199,999 |
471 |
949 |
|
200-299,999 |
241 |
378 |
|
300-399,999 |
94 |
161 |
|
400-499,999 |
42 |
57 |
|
500-599,999 |
25 |
25 |
|
600-699,999 |
18 |
9 |
|
700-799,999 |
6 |
8 |
|
800-899,999 |
8 |
5 |
|
900-999,999 |
8 |
0 |
|
1M- 1.99M |
7 |
3 |
|
2M-2.99M |
0 |
0 |
|
3M-3.99M |
0 |
0 |
|
4M-4.99M |
0 |
0 |
As you can plainly see, just about every price category is down in the number of sales this July from July of 2009. The $100-199,999 price range is down 50% from last year. There is still uncertainty over the economy, job creation, government spending, future health care reform, etc. The houses that are selling are doing so for less than what sellers expect. Sellers need to be flexible and have realistic expectations. There are more homes for sale than there are buyers right now. Price your home based on today’s market and especially what is going on in your particular community. Make sure your home sparkles, is updated, de-cluttered, has a manicured lawn that is watered regularly, has neutral colors, etc. A home’s value is ultimately what an appraiser says it is worth and what a lender will loan for that house.
Other points of interest:
Bulverde Rd widening has begun- Infrastructure is underway. This is a 30 month project that includes 6 travel lanes, raised medians, 6 ft sidewalks, & 5 ft bike lanes.
2 New NEISD elementary schools will open in August: Cibolo Green elementary in Bulverde Village, and Tuscany Heights elementary in the Summerglen 281 area.
Johnson HS ranked in Newsweek’s Best High Schools in America: The list ranks the top 6% of public high schools. Others in San Antonio included Reagan, Churchill, Clark, Alamo Heights, and the International School of the Americas at Lee High School.
The Kohls Dept store chain plans to open an operations center in San Antonio- it’s expected to employ more than 1000 people in the next 3 years. The Westover Hills Center will handle customer service, and credit card services for the Wisconsin based company.
San Antonio has been reaffirmed a top bond rating of “AAA”. This is the highest bond rating a city can receive from Fitch, Moody’s, & Standard & Poor’s rating services. San Antonio is the only one of the nation’s 10 largest cities to get this coveted rating.
Pinnacle Montessori school to open soon: This new school on Bulverde Rd is a private, year round school for children ages 3 months to 9 years. You can find more information at www.pinnaclemontessori.com
Blanco Road widening project: North of Loop 1604 up to Timberwood Park is scheduled to be completed by the end of September.
San Antonio population increases- The city grew by 24,000 people in 2009, a 1.81% increase.
___________________________________________________________________________________________________________________________________
I am just a phone call away if you need real estate or mortgage assistance. I have had the pleasure to work with many terrific clients over the years. Their and your referrals are the lifeblood of my business. So if you need to know what is going on in your particular neighborhood, or wonder if you can qualify for a mortgage, or want to know what a particular house or piece of land sold for, I will be happy to chat with you. Best wishes till we communicate again.
J.J. Rodriguez, ABR, CRS, GRI, SFR, SRES, Realtor, Loan Officer
ERA Troy Realtors
Mortgages Direct
105 Galleria Fair, San Antonio, Tx 78232
210-601-7074
