San Antonio Real Estate Market Report January 2009
February 25, 2009
San Antonio January 2009 MLS Report |
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| Sales | Sales Year Ago | % Change Year Ago |
| 808 | 1,183 | -32% |
| Average Price | Avg Price Year Ago | % Change Year Ago |
| $186,353 | $173,337 | 8% |
| Median Price | Med Price Year Ago | % Change Year Ago |
| $145,900 | $141,800 | -3% |
| Price Per Sq Ft | Price Per Sq Ft Year Ago | % Change Year Ago |
| $88 | $86 | 3% |
| Days On Market (DOM) | DOM Year Ago | % Change Year Ago |
| 102 | 89 | 15% |
| New Listings | Active Listings | Pending Sales |
| 2,706 | 11,763 | 1,112 |
| 7.8 Months of Inventory | ||
Source: SABOR
$8,000 Reasons To Buy Your First Home
February 20, 2009
Written By MARTY KRAMER, Consumer Columnist
If you’ve been paying attention to the recent “stimulus” activities in Washington, you already get the reference to 8,000 reasons in the headline above. It’s really only one reason, but it could be worth $8,000 to you. The legislation signed this week by President Obama contains a measure for first-time homebuyers to receive a tax credit up to that amount if they purchase a home.
But wait … there was already a $7,500 tax credit in place, so is another $500 really such a big deal? Yes, but not because of the higher dollar amount. Hey, I’m not one to look askance at 500 bucks, but the real exciting news is that the repayment feature of the tax credit has been removed.
With the previous version of the tax credit, you were obligated to pay it back in equal installments over 15 years. Now you don’t have to repay it at all (unless you sell your house within three years). As before, a first-time homebuyer is defined as someone who hasn’t had an ownership interest in a primary residence in the last three years. Also unchanged is the fact that the credit starts to phase out at an adjusted gross income of $75,000 for individuals and $150,000 for joint filers.
This credit, which totals 10% of the purchase price of the home up to a maximum of $8,000, is available for first-time buyers who purchase a principal residence between Jan. 1, 2009 and Dec. 1, 2009. That principal residence need not be a detached home, as the credit also applies to condos and townhomes.
When does Uncle Sam “show you the money”? The credit will be applied to your federal income tax bill. If you qualify for more tax credit than you owe in taxes, you’ll receive a check for the difference. So, for example, if you meet the criteria for the full $8,000 credit and owe $3,000 in federal taxes, you will pay no taxes and get a $5,000 “refund.”
If you’ve been thinking of buying your first home, this year is a great time to talk with a Texas REALTOR®. Whether you think of this new credit as 8,000 reasons or one really big one, it’s a new, strong incentive to make a move.
Tour & Taste Homes And Wines On The Texas Wine Trail
February 19, 2009
Bluegreen Communities and Vintage Oaks at the Vineyard are hosting a Tour and Taste event featuring fabulous builder model homes and tantalizing Texas Hill Country Wines. Seven model homes will be paired with seven Texas Hill Country Vineyards to provide a sampling of the Texas Wine Trail lifestyle and experience. Door prizes will be given at each model home! Visit every model home and be entered into a Grand Prize Drawing for a one-day wine tasting excursion on the Texas Wine Trail, limo included!
| Date: | Mar 21, 2009 (Sat) |
| Time: | 12:00 PM – 5:00 PM |
| Cost: | Free |
| Place: | Vintage Oaks at the Vineyard 8484 Hwy. 46W New Braunfels, TX 78132 |
For more information and to Pre-Register visit: VintageOaksTexas.com/tourandtaste
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Anderson-Jenkins Homes
Dunn & Stone Builders Rex Robinson Custom Homes Shields Custom Homes Stone Creek Custom Homes Sustainable Custom Homes Wilshire Homes Vintage Oaks at the Vineyard |
Texas Legato
Beckner Vineyards Driftwood Vineyards Fall Creek Vineyards Pillar Bluff Vineyards Flat Creek Estate Stone House Vineyard Dry Comal Creek Vineyards |
The Healthiest Housing Markets for 2009
February 17, 2009
With most economists and builders expecting a national market decline this year, this may not seem like the best time to be selecting the “healthiest” markets in the country. Virtually every market was down last year. But a close look at the numbers reveals that some markets have way outperformed others during the last four years and are likely to continue to do so this year.
When the housing market stages its official recovery, the markets listed on the following pages are likely to lead the parade. It may take a year or more for the weakest markets–where burgeoning foreclosure sales are still pounding new home values, making building and selling new homes an exercise in futility– to finally stage a turnaround. We’ll present that list next week.
The healthiest markets have many things in common. Most of them are great places to live, either close to the ocean, mountains, or major universities. Most of them didn’t have a huge run-up in prices during the boom and aren’t experiencing rampant deflation during the bust.
To compile these lists, we analyzed the top 75 housing markets in the country. We ranked them based on population trends and job growth, perennial drivers of housing demand. We also examined what’s happened with home prices; many of the healthiest markets have managed to hold the line on home values. And finally, we considered the rate building permits, which may be the single best ongoing indicator of builder confidence in a market. We combined all these metrics to produce a score for each market. Here are the top 15, in reverse order.
15. Myrtle Beach, S.C.
14. Wilmington, N.C.
13. Charlotte, N.C.
12. Denver, Col.
11. Nashville, Tenn.
10. Washington D.C.
9. Fayetteville, Ark.
8. Indianapolis, Ind.
7. Seattle, Wash.
6. Raleigh, N.C.
5. Dallas, Texas
4. San Antonio, Texas
2008 total building permits: 10,261
San Antonio is another Texas market that is still adding jobs, about 15,000 last year. A city of more than 2 million people now, its population is also growing, at a 2.8 percent annual clip through the third quarter of last year. Existing home prices are barely declining in San Antonio, down only 1.8 percent in the last year, leaving the median price of an existing single-family home at an affordable $154,400, 25 percent below the national average of $200,500, according to the National Association of Realtors. The upper end of the housing market was hurt recently when AT&T announced it would be moving its corporate headquarters to Dallas.
3. Fort Worth, Texas
2. Austin, Texas
1. Houston, Texas
Lot Sales For The Upscale Community King’s Gate Begin May 2009
February 5, 2009
JMJ Development has announced the launch of King’s Gate, an 870-acre master planned community in the Texas Hill Country near San Antonio. Lot sales are scheduled to begin in May 2009.
King’s Gate will consist of 382 custom home sites, ranging from two acres to larger estates. Owners can build on their own lot, many of which boast beautiful views of nearby Lake Medina or the San Antonio skyline in the distance.
“The upscale King’s Gate community will appeal to people who want to live close to San Antonio and enjoy its vibrant culture, lifestyle, upscale retail and other amenities, while at the same time living in a rural setting with breathtaking views,” stated Timothy Barton, CEO of JMJ Holdings.
The Texas Hill Country was home to some of the state’s earliest settlers, who were attracted to its ruggedly beautiful landscape and temperate climate.
“We are committed to protecting the environment of the Texas Hill Country, and as a result the development of King’s Gate will be very focused on ensuring minimal impact to the area’s vegetation and terrain,” Barton added.
The area surrounding King’s Gate features a variety of outdoor activities including hiking, horseback riding and camping. Diving, fishing and boating are located at Lake Medina. Also close by is the Government Canyon State Natural Area, an 8,622-acre reserve.
A number of highly rated golf courses are within easy driving distance including the LaCantera Golf Club and the Flying L championship golf course. King’s Gate is also part of the highly regarded Medina Valley Independent School District.
True to its name, the elaborately gated entrance of King’s Gate will set the tone for this upscale development shaped by nature, the most intriguing architect of all.
