During the third quarter of 2009 there were 93 homes listed for sale in Alamo Heights with a median price of $459,500. This represents a 15% increase in inventory over last year. Inventory currently stands at 12 months supply favoring the buyer. Sales are also off approximately 15%. Prices have stabilized. With that said, the historic low interest rates contributing contributing to a slight rise in the number of sales.
My call for Alamo Heights: Prices will continue to be stable. The current home buyer incentives will continue to lift our sales through the spring. The summer sales will be supported by the additional new jobs coming online. 2010 will be the best year for home sales since 2007 which was our third best year ever... The main wild card is the Fed's decision on whether to continue to purchase FNMA backed securities which ends this spring. Conventional wisdom says if they do not, then interest rates will rise.
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 decades.
You can view all of the homes listed for sale in Alamo Heights at www.SanAntonioHouseHunting.com or call for an update.
David Bowman 210-325-9972 "Let's get a move on"
ZIP Code: 78209 Location Characteristics: Alamo Heights can trace its historical roots prior to 1900 and developed as a suburb located just North of San Antonio (today's downtown). Though AH has since been surrounded by SA's urban sprawl, it maintains it's unique identity and charm. Neighborhoods run the gamut from modest, to modern to historical. Shopping is anchored by the Alamo Quarry Market which features fine dining, movies and specialty shops. The golf enthusiast will not be disappointed by the Quarry Golf Course which features many challenges on the course as well as professional instruction. The schools in AH have historically led the way in education in greater SA. This has attracted many new families and enticed multi-generational families to remain rooted to the area. Alamo Heights is the clear leader in demand for the greater metro area. Land costs here are second to none. As a result property updating and renovations are prevalent. The city's convenient location to the downtown employment center coupled with AHISD's perennial academic acheivement forms the basis for this prospering real estate sub market.
About David & Mary Bowman:
In 1976 my first home appreciated as much as my wages. 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.
