I get this question a lot! From people I meet, non-Realtor friends, and Realtors from other areas that I see at conferences and other meetings. Everyone wants to know–how’s your market in San Antonio? The short answer is–it’s good! Rates are at historic lows, there are homes available, sellers are motivated, and, most importantly, banks are lending! If you’re looking to purchase a home–as a primary residence or as an investment--now is the time!!
San Antonio real estate has not suffered from the extremes that other areas are struggling with. We did not have the tremendous spikes in property values/prices a few years ago, and consequently, we have not suffered the devastating loss of value those areas have. We’ve always had, and continue to have, slow and steady appreciation and growth. Compared to the bubble years of 2006-07, things are a little slower–prices are down a bit from those years (in some neighborhoods) and homes are taking a bit longer to sell. Lending requirements have tightened up a lot which has made loan approval more challenging for some buyers and knocked some out of the running altogether. We have seen foreclosures and short sales and they continue to be part of our market, but not nearly to the degree that some areas are experiencing.
San Antonio is growing and jobs are here! Jobs drives real estate drives retail!
There are more hoops to jump through to get from contract to closing these days. So what does that mean for you, Mr. and Mrs. Buyer or Seller? In my opinion, it is more critical than ever that you have a good REALTOR working on your behalf to help you purchase or sell a home! And not just anyone who says they are!
Just because someone’s been a REALTOR for many years doesn’t necessarily mean he/she is current with the latest technologies, market information, etc. And just because someone is relatively new in real estate and may not have closed lots of transactions doesn’t necessarily mean he/she is still “wet behind the ears”! Ask questions and expect straight answers. The real estate professional you select to represent you should be someone you have absolute trust and confidence in, not just someone you saw in an ad. He/She will be helping you with your most important financial decisions, so there needs to be trust on both sides.
If you’re in the San Antonio area and would like more specific information on your neighborhood or one you’re interested in, please contact me and I’ll be happy to answer questions, provide market information, or help you any way I can. And if you’re not in San Antonio, I’d love to refer you to a colleague in your local area–I have contacts all over the United States.
Enjoy your day and the season!
All the best,