Yes, investors with quality in mind and a realistic view of our housing market are coming back. Here in the greater San Antonio area, houseing prices are holding steady, and more people are forced to rent for a variety of reasons. This makes for an attractive combination to an investor with a minimum of 20% or more down payment.
Although we don't have quite the number of foreclosures that some areas of the country have, we do have a nice selection for investment or as move in homes. These are often a good way to start the investment portfolio, but buyers need to have patience as it can take weeks just get the contract approved with some lender owned properties. HUD and VA properties normally are easier to work with as they have established process' in place.
With the increase in our military presence and continued growth in the general business sectors, we have a need for quality rentals that are priced to support the local needs. For example, a $130,000 house will not rent for $1600/month. Even with lots of upgrades most homes in this price range will rent for $950 - $1200, depending on location and condition.
So, if you want to make 5% or so on your money and have some future appreciation in the real estate market, now is a good time to consider investing in rental properties. And if the trends are any indication, the professionals are already out there looking.
Showing posts with label investments. Show all posts
Showing posts with label investments. Show all posts
Monday, May 11, 2009
Tuesday, January 6, 2009
2009 Housing Forecast
We attended the 2009 Housing Forecast put on by the San Antonio Board of Realtors (SABOR) this morning and have a lot of information to share.
For starters, as we all know, the greater San Antonio area is weathering the recession well and is poised to be the front runner during the upcoming growth period. We are still affected by the many folks moving to the area for good jobs, Military, and quality of life that are unable to sell or rent their homes in other areas. As this situation starts to slow amid the normal spring moving season, as well as with the promised stimulus packages, we will see an increase in sales.
For the time being we have over 12,000 available homes on the market and interest rates are at all time lows. This is still a buyer's market and will be into 2009 or even 2010. However, statistics show that home prices have stabilized in our region and even appreciated in some areas over the last year. This indicates that the buyer's market may not allow for some of the slashing that has occurred in other markets such as Florida and Las Vegas.
Dr. Mark Doutzour, the Chief Economist for the Texas A&M Real Estate Research Center is strong on home ownership, but is also supportive of realistic lending practices. He tells us that we will start seeing recovery in our area this spring, and history shows that we will start to see both home prices begin to move up and interest rates to possibly increase as well. He flatly states that now is probably the best buying opportunity for the next 20 or more years!
There were all kinds of statistics and trend lines thrown around to make the numbers types feel involved, but bottom line is we are in a great location and now would be the time to lock in future appreciation at phenomenal prices and rates.
Call and I can provide details and share more with you as well!
It sure is nice to be in Texas!
For starters, as we all know, the greater San Antonio area is weathering the recession well and is poised to be the front runner during the upcoming growth period. We are still affected by the many folks moving to the area for good jobs, Military, and quality of life that are unable to sell or rent their homes in other areas. As this situation starts to slow amid the normal spring moving season, as well as with the promised stimulus packages, we will see an increase in sales.
For the time being we have over 12,000 available homes on the market and interest rates are at all time lows. This is still a buyer's market and will be into 2009 or even 2010. However, statistics show that home prices have stabilized in our region and even appreciated in some areas over the last year. This indicates that the buyer's market may not allow for some of the slashing that has occurred in other markets such as Florida and Las Vegas.
Dr. Mark Doutzour, the Chief Economist for the Texas A&M Real Estate Research Center is strong on home ownership, but is also supportive of realistic lending practices. He tells us that we will start seeing recovery in our area this spring, and history shows that we will start to see both home prices begin to move up and interest rates to possibly increase as well. He flatly states that now is probably the best buying opportunity for the next 20 or more years!
There were all kinds of statistics and trend lines thrown around to make the numbers types feel involved, but bottom line is we are in a great location and now would be the time to lock in future appreciation at phenomenal prices and rates.
Call and I can provide details and share more with you as well!
It sure is nice to be in Texas!
Monday, November 17, 2008
Local Real Estate Notes
Now that we have seen the DOW go back and forth a thousand points in a day, are you still watching the news? What to believe, which way to go, what to buy? Well, let's look local and see what is out there:
In the Schertz and Cibolo zip codes we have 465 current listings ranging from a $65,000 mobile home to a great custom home on over 28 acres for $930,000. Most of the listings are single family homes under $225,000! So, we can pretty much meet any buyer's needs.
As for forclosures, we have 11, ranging from $69,900 to $199,900. That is only 2.3% of our active market!
For renters, or investors looking to see what the local market has, we have 86 rentals ranging from a $650/month townhouse to a new exectuive home for $1795/mo. The average single family home rents for about $1200/month.
What does this mean? It means that we have a strong market with few foreclosures, and good values for both owners and renters. It means we have more inventory than historically at this time of the year, but this is historically the slowest time of the year for sales as well.
Interest rates are stying between 6% - 6.75% as well, making for attractive rates for long term ownership. And the Texas Vet program strives to stay about 1/2 point lower when it can.
Coem on out and see for yourself, we have a lot of great value now and why wait for the stock market when you can at least live in your investment, no matter what the DOW is doing!
In the Schertz and Cibolo zip codes we have 465 current listings ranging from a $65,000 mobile home to a great custom home on over 28 acres for $930,000. Most of the listings are single family homes under $225,000! So, we can pretty much meet any buyer's needs.
As for forclosures, we have 11, ranging from $69,900 to $199,900. That is only 2.3% of our active market!
For renters, or investors looking to see what the local market has, we have 86 rentals ranging from a $650/month townhouse to a new exectuive home for $1795/mo. The average single family home rents for about $1200/month.
What does this mean? It means that we have a strong market with few foreclosures, and good values for both owners and renters. It means we have more inventory than historically at this time of the year, but this is historically the slowest time of the year for sales as well.
Interest rates are stying between 6% - 6.75% as well, making for attractive rates for long term ownership. And the Texas Vet program strives to stay about 1/2 point lower when it can.
Coem on out and see for yourself, we have a lot of great value now and why wait for the stock market when you can at least live in your investment, no matter what the DOW is doing!
Tuesday, July 22, 2008
Things going on!
Wow! The economy is sinking and we are running out of options!
Sorry, that is another place, not here! In fact the home sales business is picking up and we continue to see growth in the area. Even though AT&T announced the move of 700 executive postions to Dallas later this year, the word is that only about 300 or so will actually move because they don't want to leave San Antonio. Impact on the housing market will be an incease of some higher end homes in the $400,000+ range. Since our average house sale is more like $150,000, this won't affect many of us.
What we do see as an impact is the ever slightly increasing interest rates. See our previous posts on this subject (MArch 3, 2008) and you can see where we are headed...higher interest rates and rising home prices. This week's rates are closer to 6.75% than we have seen in months. In March we were thinking 6% all summer, but with energy prices up and bonds taking a bruising, it has been anything but stable.
Take stock of your housing situation. If you don't need to sell, sit tight for a while as prices continue to rise with the reduction of inventory available. If you are looking to buy, get the house you want now as the inventory is reducing and interest rates are rising.
Keep a positive outlook, we are still in Texas!
Sorry, that is another place, not here! In fact the home sales business is picking up and we continue to see growth in the area. Even though AT&T announced the move of 700 executive postions to Dallas later this year, the word is that only about 300 or so will actually move because they don't want to leave San Antonio. Impact on the housing market will be an incease of some higher end homes in the $400,000+ range. Since our average house sale is more like $150,000, this won't affect many of us.
What we do see as an impact is the ever slightly increasing interest rates. See our previous posts on this subject (MArch 3, 2008) and you can see where we are headed...higher interest rates and rising home prices. This week's rates are closer to 6.75% than we have seen in months. In March we were thinking 6% all summer, but with energy prices up and bonds taking a bruising, it has been anything but stable.
Take stock of your housing situation. If you don't need to sell, sit tight for a while as prices continue to rise with the reduction of inventory available. If you are looking to buy, get the house you want now as the inventory is reducing and interest rates are rising.
Keep a positive outlook, we are still in Texas!
Friday, April 25, 2008
More homes to choose from
Just checked the statistics and we now have 11,556 single family homes for sale in the San Antonio MLS. That is a lot of houses to choose from! Yes, some foreclosures - approximately 377 this week still available.
Are you looking at the possibility of purchasing a home this summer? Yes, we are in a buyer's market right now, so why not take advantage of it?
Interest rates are low, prices are low, and the area is still growing. A nice mix of positive influence for buyers. And with over 11,000 to choose from, I am sure we can find you one to fit!
Investors take note, rental rates are going back up and a lot of people that might have bought in previous years are not this year and still need a place to live.
Call and let us know what you need!
Are you looking at the possibility of purchasing a home this summer? Yes, we are in a buyer's market right now, so why not take advantage of it?
Interest rates are low, prices are low, and the area is still growing. A nice mix of positive influence for buyers. And with over 11,000 to choose from, I am sure we can find you one to fit!
Investors take note, rental rates are going back up and a lot of people that might have bought in previous years are not this year and still need a place to live.
Call and let us know what you need!
Monday, January 7, 2008
Home Buyer Workshop 17 Jan 08
It's on the books! We are excited to host a Home Buyer Workshop on 17 Jan 08 at the Schertz Civic Center from 7-9 PM. Sign in will start at 6:30, and we would really appreciate an RSVP so we can plan refreshements accordingly. Just drop an email to info@tanrealty.com or call us at 210-392-4070 with the number of attendees.
Presenters will include:
United Title of Texas
Supreme Mortgage Lending
First American Home Warranty
A Nu Home 4 U Home Inspection Service
Edward Jones Investments
Allstate Insurance
And of course, Realty Executives!!
This is for new and seasoned home buyers as we will have the experts on hand to address the local housing market and answer your questions. In fact, if you have specific questions, email me and we'll provide and answer at the Workshop.
This is a fantastic opportunity for anyone interested in local real estate. from a personal home to investing, we will be able to discuss the entire process and what you need to know before you start.
We are looking forward to this and hope you will enjoy it as well. Please let everyone that might need this information know.
Presenters will include:
United Title of Texas
Supreme Mortgage Lending
First American Home Warranty
A Nu Home 4 U Home Inspection Service
Edward Jones Investments
Allstate Insurance
And of course, Realty Executives!!
This is for new and seasoned home buyers as we will have the experts on hand to address the local housing market and answer your questions. In fact, if you have specific questions, email me and we'll provide and answer at the Workshop.
This is a fantastic opportunity for anyone interested in local real estate. from a personal home to investing, we will be able to discuss the entire process and what you need to know before you start.
We are looking forward to this and hope you will enjoy it as well. Please let everyone that might need this information know.
Monday, November 19, 2007
Ready for 2008?
Are you planning to purchase or to sell a home in 2008? Now is the time to start planning for success. We will be helping you by hosting both a buyer and a seller workshop in January at the Schertz Civic Center. Details to come, but we are teaming with a host of professionals to provide you with the information you need to make informed choices and educated decisions when it comes to the largest single investment most of us make in our lives!
Sales are forecast to increase in 2008, and with the growth in the San Antonio area, we all need to be prepared. Home prices will surely be going up, but only for the best properties. New home construction has already seen dramatic increases in costs with materials going up almost every month. Cement, steel, lumber, sheetrock, copper and more have all contributed to these increases. You may see new homes advertised for low prices, but make sure to check the size and quality of amenities such as faucets, carpet, etc. There will be good deals, but only if scrutinized.
Call or email with any questions and any inputs if you would like to see or hear from a particular specialty for any of our upcoming workshops as well.
Sales are forecast to increase in 2008, and with the growth in the San Antonio area, we all need to be prepared. Home prices will surely be going up, but only for the best properties. New home construction has already seen dramatic increases in costs with materials going up almost every month. Cement, steel, lumber, sheetrock, copper and more have all contributed to these increases. You may see new homes advertised for low prices, but make sure to check the size and quality of amenities such as faucets, carpet, etc. There will be good deals, but only if scrutinized.
Call or email with any questions and any inputs if you would like to see or hear from a particular specialty for any of our upcoming workshops as well.
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