Historic low interest rates and First Time Buyer Incentives have fueled housing sales to help keep inventory balanced in the under $300k price sector. Location is still a major factor as demand in established neighborhoods inside Loop 1604 between Hwy 281 and IH 10 continue to draw home buyers. While neighborhoods further from downtown offer many advantages, the longer commute is tempering the attraction. As a result initial list prices are softening and price drops are the order of the day. Our biggest casualty is the $600k+ price sector with slower sales as list prices ascend. New home inventory is now under control and yet home builder incentives are still attractive with some offerings in the 5-10 percent range.
The local economy continues to offer stability and hope as unemployment figures remain better than national rates. San Antonio continues to diversify its employment base and remains resilient to the current economic instability. The 2010 and beyond employment picture is expected to be buoyed by the ongoing 1.3 billion dollar construction project at Brooke Army Medical Center and the creation of San Antonio Military Medical Center. SAMMC is the combined mission for military health care with a North and South Campus. The private sector is chiming in as Toyota has added the production of its Tacoma compact truck to the Tundra at its San Antonio production plant. The addition is expected to be operational by summer of 2010 and is expected to bring the facility to full operation. These two enterprises are expected to add approximately 11,000 jobs over the next three years.
My call for SA: The current opportunity for a buyer's market will continue into the first half of 2010. As the national economy continues to recover we should see additional impetus.
If your finances are in order and your employment is secure, then what are you waiting for? You could be kicking yourself for missing out on one of the best buyers markets in the USA in decades.
To view homes for sale in San Antonio go to www.SanAntonioHouseHunting.com or just call.
David Bowman 210-325-9972 "Let's get a move on"
Location Characteristics: Some people get the wrong idea about SA as being rural and lacking green landscapes. The truth is SA receives an average annual rainfall of 25 inches transforming the native flora into full bloom most every spring. (We are in a drought at the current time) SA also offers the best of both worlds when it comes to big city conveniences and yet retains a small town feel. The diverse demographic composition also contributes to the friendly nature of the region. The eighth largest city in the US, SA is located in South Central Texas about 150 miles from Houston, 250 miles from Dallas-Ft. Worth and 60 miles from Austin. Our climate is a cross between Florida and Arizona. Not quite as humid as Florida and not near as hot as Arizona. SA is home to the corporate headquarters of Valero and USAA. Oh yes, we are proud of our Spurs! With the downtown Riverwalk, Alamo, Six Flags Fiesta Texas and Seaworld SA is also the number one tourist destination in Texas. The Pete Dye and Greg Norman designed TPC San Antonio golf courses (2) located in the north part of the city are expected to be completed in 2009 and hosting the Texas Open and the Champions Tour ATT Championship by 2010. My favorite bumper sticker reads; "I wasn't born in Texas, but I got here as fast as I could."
About David Bowman:
In 1976 my first home appreciated as much as my wages. (If that doesn’t excite you then quit reading and please go elsewhere) From then on I’ve been sold on real estate. Every market cycles up and down but real estate has historically outperformed almost every other financial market. I never have to sell anyone on the concept; everyone wants to own real estate.
Like many services there are two components to transacting real estate; Product and Process. Product is the real estate itself. Most people are happy with the property they purchase. It’s the Process they have to go through to get it that can frustrate and disappoint. (It’s like an experience with your dentist; you like the result after they’re finished, but the Process may be a bit unsettling) Whether dentistry or real estate, a skillful practitioner can go a long way to limit your discomfort by doing two things. The first is to prepare you by providing a proper expectation of typical issues you will face in the proposed transaction and help you keep them in the context of “what’s normal”. The second is to build and execute a solid strategy or plan to help you accomplish your goals. This plan is usually developed together once you’ve determined the practitioner is both skilled to represent you in the process and can be trusted to place your interest above all other interests that pertain to the transaction.
Most of us have an idea of the Product we intend to purchase. But as we get closer to it, we discover issues we had not envisioned and our plans are altered to reflect the new data. While this dynamic is present in nearly all real estate transactions a practitioner with exceptional Product knowledge can save you time and frustration by reducing energies expended on unfruitful home searching.
The Process is the implementation of the plan by the practitioner within the environs of their “system of operations”. (Assuming they have one) This system of operations is the consummate organization of their business acumen acquired through experience. This is where brokerage services differ greatly. This system of operations serves as a format for the broker to monitor repetitive details of each transaction allowing them to focus their energies on the task at hand during every phase of your transaction. As Steven Covey puts it “people are effective…systems are efficient.” That’s why I’ve built systems into my business model that are designed to eliminate repetitive miscues and protect my client’s interests.
So ask yourself “what’s important about this next real estate transaction?” Is it important enough to have an experienced professional at your side?
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
