Homes are moving here!

I don't know what the details are, but since teh end of April, home showings have been through the roof. A lot of contracts are signed and June and July should be bonzo for closings! A couple of thoughts -

-Ft Sam and unit moves are beginning this summer. BRAC was devastating to some areas, but we are seeing a wonderful increase in military presence here in the San Antonio area
-UTSA continues to attract students, which equates to faculty and staff, and all the associated business that supports education
-The Central Texas Medical Center continues to grow, adding professional and support staff
-The First Time Home Buyer Tax Credit - up to $8,000 for qualifying individuals and families is certainly getting young folks out to look. Many are seeing the benefits and working to obtain financing

Tha above, combined with more people just looking to relocate for work or retirement, has kept our real estate market in good condition. Now we are seeing a nice increase in home sales which should keep our market resilient for this year at least.

If we have a soft spot in our market, it is that lenders are being excessively cautious in approving loans. Even folks with excellent credit (above 750 FICO score), good income, and low debt ratios are having to supply a ridiculous amount of support to get a loan finalized and closed. What was ridiculously easy a couple of years ago has taken the pendulum swing to the other side and making good buyers work too hard.

But, we are glad to be in Texas! Had a great dinner with a bunch of active duty and retired Air Force Combat Controllers last night at On the Border - a great time! Support your troops and respect what they are doing to keep this country safe!