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Old 01-02-2011, 07:49 AM
JNA JNA started this thread
 
Location: San Antonio, TX
243 posts, read 668,632 times
Reputation: 136

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Old 01-02-2011, 07:52 AM
 
177 posts, read 318,124 times
Reputation: 160
Tell that to those of us who bought in 2005/07.
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Old 01-02-2011, 08:40 AM
 
Location: Charleston, SC
5,615 posts, read 12,837,497 times
Reputation: 2534
We covered this in another thread. It depends on where you bought. Even between 2005 and 2007.
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Old 01-02-2011, 08:54 AM
 
Location: San Antonio
437 posts, read 779,467 times
Reputation: 282
The median selling price has increased but the number of homes sold decreased (refer to that other thread, where I just posted more graphs). That's for the entire city, of course, and some pockets did better/worse than others. One thing I'm very curious to do is compare a newer neighborhood or two with a couple of established neighborhoods. The data wouldn't be great because homes sold by builders aren't always reported.
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Old 01-02-2011, 09:08 AM
 
177 posts, read 318,124 times
Reputation: 160
Quote:
Originally Posted by scuba steve View Post
We covered this in another thread. It depends on where you bought. Even between 2005 and 2007.
We've also covered your reply... I will keep on expressing what I see in MY neighborhood if YOU don't mind.
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Old 01-02-2011, 09:18 AM
 
Location: San Antonio
4,149 posts, read 9,329,482 times
Reputation: 3308
Quote:
Originally Posted by Stabart47 View Post
We've also covered your reply... I will keep on expressing what I see in MY neighborhood if YOU don't mind.
We get it. You're mad because your house isn't worth what you paid. Others are welcome to post here, regardless of your thoughts on the real estate market.
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Old 01-02-2011, 11:05 AM
 
Location: New Braunfels, TX
6,276 posts, read 9,043,381 times
Reputation: 6380
Stabart - as others have noted, much depends on where you bought - which has been a basic rule of Real Estate forever. If you don't pay attention to the area and the builder, you can easily "buy wrong". We bought our place in '04 after having looked for 6 years to find the right combination.
Our "base" house was $144k (about) when we contracted it to be built. Today, they build the same home across the highway from us.....for $198k "base" price. We had 6 pages of changes on our place - to build it today would be in the range of $275k according to the sales people. We also got an oversized (1/2 acre) lot that overlooks the entire valley. There's not another lot available like it - so if/when it's time to sell, we're not worried about it, even in a "down economy".
Now, back in the 80's I bought a place just before the S&L crash. Like you, I was "in the hole" - but also in the midst of a divorce, so there wasn't much option for me. I can feel your frustration - but just as you did, I failed to pay close attention to who my neighbors were going to be, and who the builder was. The result - couldn't even get a $50k offer on an 83k home. Sometimes, lessons have 0's on the end of 'em.... I'm telling you all this because it's time you realize that you can complain all you want, but it's not going to change your situation. You've got two choices - complain, or make the best you can of a bad situation. That old house today is "within the market" in terms of value, and had I been able to hold onto it for 3-4 years, I would've been okay. Instead, I had to learn my lesson and remember it for the future - but it was my lesson.
Hopefully, you'll be able to hang on to it for another 2-4 years - I'd be willing to bet that by that time, the market will have recovered enough for you to be able to recover your investment. In the meantime, pay down your mortgage as aggressively as possible to help mitigate your losses, refinance if the interest rate savings make sense, and do the very best that you can.
I'd be happy to discuss this w/you further via DM if you'd like - it's obvious that you're angry (perhaps at yourself, as I was), and quite possibly scared about what the future holds. Hang tight, hang tough - and it will very probably turn around for you. There are some things you can/could/should be doing right now, and that's why my offer to DM is made, to help you look and see what you might be able to do....
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Old 01-02-2011, 12:00 PM
 
15,065 posts, read 19,710,115 times
Reputation: 12234
The houses in San Antonio are "Dirt Cheap" plus the huge influx of people from California (big demand for houses) it's obvious that their prices are not going to decline.

I bought my house at the perfect time, I got a $8000 "incentive" for buying my house
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Old 01-02-2011, 12:04 PM
JNA JNA started this thread
 
Location: San Antonio, TX
243 posts, read 668,632 times
Reputation: 136
Quote:
Originally Posted by Stabart47 View Post
Tell that to those of us who bought in 2005/07.
The list is a forecast for 2011 compared to other cities vs 2010. Nothing to do with 2005-2007 although I'm pretty sure SA has fared better than most cities since 2005 as well.
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Old 01-02-2011, 12:21 PM
 
177 posts, read 318,124 times
Reputation: 160
Quote:
Originally Posted by TexasRedneck View Post
Stabart - as others have noted, much depends on where you bought - which has been a basic rule of Real Estate forever. If you don't pay attention to the area and the builder, you can easily "buy wrong". We bought our place in '04 after having looked for 6 years to find the right combination.
Our "base" house was $144k (about) when we contracted it to be built. Today, they build the same home across the highway from us.....for $198k "base" price. We had 6 pages of changes on our place - to build it today would be in the range of $275k according to the sales people. We also got an oversized (1/2 acre) lot that overlooks the entire valley. There's not another lot available like it - so if/when it's time to sell, we're not worried about it, even in a "down economy".
Now, back in the 80's I bought a place just before the S&L crash. Like you, I was "in the hole" - but also in the midst of a divorce, so there wasn't much option for me. I can feel your frustration - but just as you did, I failed to pay close attention to who my neighbors were going to be, and who the builder was. The result - couldn't even get a $50k offer on an 83k home. Sometimes, lessons have 0's on the end of 'em.... I'm telling you all this because it's time you realize that you can complain all you want, but it's not going to change your situation. You've got two choices - complain, or make the best you can of a bad situation. That old house today is "within the market" in terms of value, and had I been able to hold onto it for 3-4 years, I would've been okay. Instead, I had to learn my lesson and remember it for the future - but it was my lesson.
Hopefully, you'll be able to hang on to it for another 2-4 years - I'd be willing to bet that by that time, the market will have recovered enough for you to be able to recover your investment. In the meantime, pay down your mortgage as aggressively as possible to help mitigate your losses, refinance if the interest rate savings make sense, and do the very best that you can.
I'd be happy to discuss this w/you further via DM if you'd like - it's obvious that you're angry (perhaps at yourself, as I was), and quite possibly scared about what the future holds. Hang tight, hang tough - and it will very probably turn around for you. There are some things you can/could/should be doing right now, and that's why my offer to DM is made, to help you look and see what you might be able to do....
As I've explained, we are moving due to my husband's new job and we have a renter for two years. I'm not "complaining"; I am only FRUSTRATED at how everyone in SA seems to be in la-la land regarding the housing market; like it's untouchable, when indeed it is struggling. It's always going to be wonderful through the eyes of a realtor because they are in SALES. They are excited to close the deal and get paid because that's their profession.
Also, as I've explained more than once, we had 3 days coming off of a remote and bought in a new area of Westcreek. Base housing was not available and not much to rent at that time. We trusted (foolishly) the realtor and the Armadillo salesperson as to who our neighbors were. I have said over and over that we take responsibility for this horrible decision. My goal now is to educate others (especially military people) and maybe they won't get stuck with a house like we are.
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