great resale? (San Antonio, Alamo, Terrell: sale, real estate market, rent)

[mojokitty]

My husband is in the Air Force but will be working at both Wilford Hall and BAMC. We want to buy a house that is in a great neighborhood with great resale capabilities. Any suggestions of where we should look?? I'm thikning that we want to stay on the west side of town, maybe no further east than the Castle Hills area. Thanks!

[kevcrawford]

As long as you buy right, your resale will be fine. Just make sure your Realtor runs good comps for you and you look at the surrounding neighborhoods. As long as the neighborhood isn't a dump, you should be fine. Just buy a good home and don't overpay.

[ShaneSA]

The Real Estate slump has not hit SA as hard as the rest of the country. The mortgage market is still on the fence and the recovery of Countrywide and Bank of America will determine real estate markets in the near future.
For resale prospectives, the best seems to buying in an up and coming area and a decent property that has good rehab potential. If you do not want to do rehab, the best for resale will be the already historic(King William, Monte Vista), or upscale not historic but well known for value( Alamo Heights, Terrill Hills).
There are several areas that are beginning to accept and lobby for historic status( Tobin Hill, Government Hill, Southtown). Good long term potential for appreciation.
Castle Hills itself has good reslae potential.
If you are looking for $ appreciation, and good resale potential, then a rehab in an up and coming area is the best potential for profit. If your looking for short term investment and recovery of investment on the short term, then any of the areas mentioned are usually quick easy resales.
Time of ownership is the key in getting appreciation of investment. The longer you own the property, the more it will probably appreciate in SA.

[Steel Man]

Originally Posted by ShaneSA

...Time of ownership is the key in getting appreciation of investment. The longer you own the property, the more it will probably appreciate in SA.

Very true. A common mistake some military members make is buying a house and then getting PCS orders in a year or two. Either they can not sale the house in time or have to take a loss or rent it out for awhile. Remember, you have to compete with all the new houses being built in San Antonio.

[mojokitty]

Well, we are military and we wanted to buy a house. I thought if we could get in a "good neighborhood" then it would be easier to sell down there. We would be down there at least 3-4 years. I'm a little discouraged after hearing other people advise against it. Any others with words of encouragement?

[Joli]

Look for a newer sub-division that is built out and close to an elementary school. For example, the Enclave neighborhood at Sonoma Ranch is now
totally built out. Outside the gate is the Bob Beard Elementary School of Northside ISD. A house down the street recently sold very quickly and I think they were military. Another military couple bought the house. Sonoma Ranch is just outside 1604 on the northwest side.

Also down the street is another couple who are in the Air Force.

I think if you price a house right and work with the correct realtor, a house
would sell.

[adtobias]

sonoma ranch is a hot market....or so it seems

[kevcrawford]

Originally Posted by mojokitty

Well, we are military and we wanted to buy a house. I thought if we could get in a "good neighborhood" then it would be easier to sell down there. We would be down there at least 3-4 years. I'm a little discouraged after hearing other people advise against it. Any others with words of encouragement?

Look at it this way. If you rent, you're going to be making a house payment. It'll just be for someone else. If you use your VA you'll probably be able to get in at 100% financing. The market really isn't crashing. It's slower than it was the last three years, but it's a slower growth. We're not going backwards at all.

You see the news about places like California and Las Vegas, but they had growth of 200% in some places, which will lead to huge crashes, but we've had a slow steady growth, which makes for a great, but solid market.

Again, if you don't overpay for the house and have your Realtor run you good comps for the area, you'll be fine.

The key to finding a good neighborhood is to tell your Realtor about your wants/needs/what you need to be close to/etc. There are a thousand great neighborhoods in SA. It all depends on what your needs are.

Just get a good Realtor and they'll help guide you through the process.

[banker]

What price range are you looking at? There have been lots of neighborhoods thrown out there - but for real advice we need to know what price range you are looking at. King William and Terrell Hills won't work for many military folks...too expensive. So let's be realistic.

[mojokitty]

Well, we are looking at not going beyond 200,000. We would like a 4 bed, 2+ bath house. I am sure this is very doable in the SA area. I just want to live in a neighborhood where it will have better resale value. My husband is going to be working at both Wilford Hall and BAMC, so that is a problem all in itself. There's really limited housing that can accomodate that commute! We have been looking at homes closer to Lackland up to the Castle hills area. I would like to be in a good school district, I'd love to have mature trees. I have been looking at the Westcreek area. Any other suggestions?