San Antonio Is Still A Great Place To Invest
March 24, 2008
This information is from “San Antonio heats up for spring” written by Robin Rogers at the National Association of Residential Real Estate Investments Advisors (NARREIA).
San Antonio is still a great place to invest for income and long-term appreciation. According to the latest figures, it is a buyer’s market, with a little over 6 months of inventory for single-family homes. New-home builders are expected to have sold all their inventory by the end of the year. Foreclosure levels are high, but not at record highs considering the number of homes sold. Sales prices have come down, especially for homes in poor condition and/or priced under $150,000, but with spring the market is already starting to pick up and homes in all price ranges are selling. So it’s a great time to buy a rental property or a distress property to rehab for what I call a “slow flip”: rent out the property after (or even during) renovation and keep it for at least a year to cover some of your costs. After 366 days, you could sell it at a reduced capital-gains tax rate, or keep it for income and long-term appreciation.
Employment prospects are great in San Antonio, especially for civilians at the various large military installations, tourism and service workers, healthcare and bio-research professionals, financial personnel, and IT and technical workers.
Not mentioned in the article is the construction at Fort Sam Houston which began in January 2008 on a $1.56 billion project and is expected to add approximately 10,000 jobs during the next three years. With a healthy economy and more jobs being added every year, San Antonio continues to grow with one of the most affordable home market’s in the country.
For more information about San Antonio’s real-estate investments or if you need assistance finding properties in the San Antonio area contact us at anytime.
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