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Are Home Prices in San Antonio Crashing?

Tue, 19 Sep 2023 19:45:45 GMT

San Antonio Real Estate Market Update - September 2023

W elcome to our San Antonio Real Estate Market Update for September 2023, where we provide you with a snapshot of the latest insights from the San Antonio Board of REALTORS® (SABOR). In this dynamic real estate landscape, we aim to keep you informed and empower you to make well-informed decisions.

Resilient Market Performance

The San Antonio real estate market has demonstrated remarkable resilience. Over the past year, a total of 3,105 residential properties were sold, marking a 6% decrease compared to the previous year. Despite this, the average sales price remained robust at $387,501, holding steady year-over-year. The median price experienced a modest 2% decline, settling at $323,000. These figures indicate that the market continues to exhibit strength and appeal.

Diverse Pricing Structure

San Antonio's real estate market offers a diverse range of pricing options. Approximately 9% of sales were priced at $199,000 or lower, emphasizing affordability. The majority of sales, comprising 73%, were within the $200,000 - $499,000 range, catering to various budget levels. High-end properties priced at $500,000 and above constituted 18% of the total sales, showcasing the market's inclusivity. The price per square foot experienced a slight 2% year-over-year decrease, amounting to $182. Homes spent an average of 57 days on the market, reflecting a substantial 104% increase from the previous year.

Buyer and Seller Commitment

Buyers and sellers in San Antonio remain committed to real estate value, with properties selling for an average of 95.3% of their original listing price. New listings entering the market totaled 4,258, reflecting a 17% year-over-year decrease. Active listings, on the other hand, increased by 25% to reach 10,964, ensuring a robust supply of housing options. Pending listings experienced an 18% year-over-year decrease, resulting in a total of 2,464. As of the end of the month, there was a reported 3.8-month supply of inventory available.

For more personalized insights and guidance in navigating the San Antonio real estate market, don't hesitate to reach out to our experienced team. We're here to assist you in making informed decisions in this dynamic market.

Stay updated by subscribing to our YouTube channel for the latest trends and expert advice on San Antonio's real estate market. Thank you for joining us in this informative market update for September 2023.

Realtor Ty Makes San Antonio's Top 31 Real Estate Agents by Expertise.com

Tue, 19 Sep 2023 19:38:06 GMT

Why is Everyone Moving to San Antonio?

There are a number of reasons why San Antonio is such a desirable place to live. The city has a strong economy, a thriving cultural scene, and a rich history. It's also a great place to raise a family. If you're thinking about buying a home in San Antonio, here are five reasons to do it right now.

1. San Antonio's Population Growth

San Antonio is one of the fastest-growing cities in the country, and its population is expected to continue to grow in the coming years. This population growth is good news for potential home buyers, as it means that there will be a greater demand for housing in the area.

2. San Antonio's Strong Economic Stability

San Antonio is also a great place to live if you're looking for a job. The city is home to several major employers, including military bases , healthcare facilities, and financial institutions. Many small businesses and startups are headquartered in San Antonio. This provides residents with plenty of job opportunities.

San Antonio is home to a number of large businesses and industries, which provides stability to the local economy. This economic stability is good news for potential home buyers, as it means that there will be less risk associated with buying a home in the area.

3. San Antonio's Affordable Housing & Investing

San Antonio has a variety of housing options available at different price points. This makes it a great option for potential home buyers on a budget. There are many different types of homes available in San Antonio, from single-family homes to apartments and townhomes.

There is something for everyone in San Antonio. San Antonio also has a variety of neighborhoods to choose from. Each neighborhood has its unique personality and charm. Whether you're looking for a quiet suburban neighborhood or a lively urban area, you can find it in San Antonio.

4. San Antonio's Wide Variety of Neighborhoods

San Antonio is home to a number of different neighborhoods, each with its own unique flavor. This variety provides potential home buyers with the opportunity to find the perfect neighborhood to match their lifestyle.

The city is home to several military bases, making it a popular choice for those in the military or their families. Several suburban neighborhoods offer residents a more private and quiet setting.

No matter what your lifestyle, you can find the perfect neighborhood in San Antonio. With so many different options available, you are sure

5. San Antonio's Great Location

San Antonio is a large city, so there is something for everyone. The downtown area offers vibrant nightlife and a variety of dining and shopping options. Uptown is home to some of the city's most expensive real estate, as well as many corporate headquarters. Midtown is a more affordable option for families or those looking for a slower pace of life.

San Antonio is located in the heart of Texas, making it a great central location for those who want to explore all that the state has to offer. It is also within driving distance of a number of major cities, making it a great option for commuters.

In Conclusion

Now is an excellent time to buy a home in San Antonio for a number of reasons. The city offers a great central location, a variety of different neighborhoods to choose from, and a strong housing market. Home buyers who act now are sure to find the perfect home to suit their needs and lifestyle.

If you are thinking about buying a home in San Antonio, contact a Realtor Ty today. I will be able to help you find the perfect home or investment property and answer any questions you may have about the process.

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Secrets Tips for First-Time San Antonio Home Buyers

Tue, 16 Aug 2022 16:30:39 GMT

Looking to Buy a Home in San Antonio?

As a first-time home buyer in San Antonio, you may feel pressure to find the perfect home and make an offer as soon as possible. The reality is that the process of buying a home can be stressful, but it doesn't have to be. By following these simple tips, you can help make the experience more enjoyable and less stressful.

Get Your Loan Pre-Approved

While my team can get you a great rate we still highly suggest you research your financing options before beginning your home search. This will give you a clear idea of how much house you can afford, and help you secure the best possible interest rate on your mortgage.

If you're not sure where to start, we can help connect you with a few reputable lenders in the area like Angel Ortiz . In the meantime, here are a few tips to get you started on the right track.

Know Your Credit Score

Your credit score is one of the most important factors that lenders will consider when determining your interest rate. The higher your score, the lower your rate will be. So before you even start shopping for a home, pull your credit report and make sure everything is accurate. If there are any errors, dispute them as soon as possible.

Shop Around for the Best Rate

Interest rates can vary significantly from lender to lender. So it's important to shop around and compare rates before you choose a lender. Keep in mind that the lowest rate isn't always the best deal. Some lenders may charge higher fees or offer less favorable terms. So be sure to read the fine print before you commit to a loan.

Lock in Your Rate

Interest rates are constantly changing, so it's important to lock in your rate as soon as possible. Once your loan is approved, most lenders will give you a 60-day lock-in period. This means that your interest rate will be guaranteed for 60 days, even if rates go up during that time.

Don't Be Afraid of Hearing "No"

Don't be afraid to negotiate with sellers. In many cases, they are willing to come down on price, particularly if the home has been on the market for a while. Don't hesitate to throw out lowball offers and be prepared to back them up if the seller responds with a counteroffer. Who knows? You may just get the home you've always wanted at a price you can afford.

One of the most important things to remember when buying a home is to stay within your budget. It can be tempting to splurge on something that you want, but if you can't afford it, you may end up in financial trouble later on down the road.

Always Follow Your Gut!

Pay attention to your gut feeling when touring homes. If a particular property doesn't feel right, move on to the next one. Some people try to push their agenda when showing homes, including making the home seem better than it is.

Don't let yourself be pressured into anything. If you're not ready to buy a home, wait until you are. There's no rush. Take your time and find the perfect home for you and your family.

When you find the right home, put in an offer. If it's accepted, congrats! You're on your way to becoming a homeowner. If not, don't be discouraged. There are plenty of other homes out there. Keep looking until you find the perfect one for you.

Best First Time Home Buyer Loans

There are a number of first time home buyer loans available. Some of the most popular include FHA loans , VA loans , and USDA loans . Each of these loan programs has its own set of benefits and drawbacks, so it's important to do your research before deciding which one is right for you.

FHA Loan

FHA loans require a lower down payment than many other loan programs but they also come with stricter credit requirements.

If you're looking to get an FHA loan, here's everything you need to know about FHA credit requirements.

FHA loans are a popular choice for first-time homebuyers because they have lower credit score requirements and down payment options as low as 3.5%. But borrowers with credit scores of 580 or lower still have the option to qualify for an FHA loan.

Here's what you need to know about FHA credit requirements:

The minimum credit score for an FHA loan is 580. However, borrowers with credit scores of 580 or lower still have the option to qualify for an FHA loan.
Borrowers with a credit score of 580 or higher can qualify for an FHA loan with a down payment as low as 3.5%.
Borrowers with a credit score below 580 can still qualify for an FHA loan, but they will be required to put down a 10% down payment.
There are no minimum income requirements to qualify for an FHA loan, but borrowers must have a steady income and employment history.
Self-employed borrowers may still qualify for an FHA loan if they can provide proof of a consistent income and employment history.
Borrowers with bankruptcies or foreclosures on their credit report may still qualify for an FHA loan if they can meet the mandatory waiting period requirements.

If you're looking to get an FHA loan, these are the credit requirements you'll need to meet in order to qualify.

VA Loan

VA loans are available only to veterans and active duty military members, but they offer 100% financing with no down payment required. This means that you can buy a home with a VA loan without having to put any money down, which is a huge benefit for veterans and active duty military members who may not have the extra cash on hand for a down payment.

VA loans also come with lower interest rates than conventional loans, and they don't require private mortgage insurance (PMI). This makes them an even more attractive option for veterans and active duty military members who are looking to purchase a home.

If you're a veteran or active duty military member, talk to your lender about getting a VA loan. You may be able to get into your dream home with no money down and lower monthly payments.

USDA Loan

USDA loans are available to buyers in rural areas and can offer low-interest rates and no down payment required, but there are income limits that apply.

If you are interested in a USDA loan, you'll need to make sure that your income is below the limit for your area. You can check the income limits here. In addition, USDA loans are only available for properties that are in rural areas. Check out the eligible areas here. Finally, USDA loans require no down payment, which could be a great option if you don't have a lot of cash on hand.

If you think a USDA loan could be right for you, talk to your lender about getting pre-qualified. They can help you determine if you meet the requirements and walk you through the next steps.