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Old 10-16-2012, 08:42 AM
 
255 posts, read 356,003 times
Reputation: 263

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Hello Blaircedarbank. Great information, as always, thanks. So, how many short sales are we talking about here? And are they occurring in all neighborhoods, more outside 410, inside?

 
Old 10-16-2012, 09:12 AM
 
106 posts, read 132,438 times
Reputation: 126
More concentrated in the northwest quadrant, but that is really more a result of where most people were buying during the building boom...and I include myself, so I'm not trying to make anyone feel bad. Also, my bank is a mid-size regional, located in this quadrant, so most of our loans are from this area. We currently have 19 being worked for years end closings.
 
Old 10-16-2012, 09:13 AM
 
50 posts, read 87,237 times
Reputation: 31
Good info folks. I am reading all of them. Keep them coming.
 
Old 10-29-2012, 03:50 PM
 
1,517 posts, read 2,478,254 times
Reputation: 336
best time to get a new mcmansion right now; dr as one example undercutting their own subdivs used homes sold in 2007. housing mkt as been on rebound for at least a year with hov, dhi, kbh etc. sa has always been dirt cheap overall... would chose wisely though. many dumpish neighborhoods. whr i lived neighbors were great people but selling was a nightmare. would go outside 1604
 
Old 10-31-2012, 04:17 PM
 
Location: San Antonio
3 posts, read 4,233 times
Reputation: 15
Personally I think it is a good time to purchase in San Antonio, especially in good school neighborhoods due to pricing being lower. Prices of houses are destined to increase.
Know what you're looking for specifically (neighborhood, HOA fees, schools, how long you plan on owning the property, etc.) before you even start considering looking.
There are some really good deals on houses in the San Antonio market, especially on the North side.
Unfortunately for the seller, prices are down about 20% since 2008. Good thing for buyers cause there's wiggle room for negotiating a home purchase.
Just sayin...
 
Old 11-01-2012, 03:38 PM
 
146 posts, read 210,008 times
Reputation: 117
In any market there are always good and bad deals.

My recommendation: don't buy a new house from a builder because when you go to sell it in 5 years they will be building a new subdivision just down the road and you will be competing with them again.

If you are worried about price stability, you are much better off picking an established infill neighborhood.
 
Old 11-03-2012, 05:22 PM
 
1,517 posts, read 2,478,254 times
Reputation: 336
disagree. new builders are the way to go in SA tract homeland, given those steep deductions; discounts are one timers; result of fallout and over building. future prices are up from here with Highland, DHI, KBH, HOV, LEN etc. get a realtor before you sign and negotiate a deal for the majority of their builder bonus too.
 
Old 11-03-2012, 08:50 PM
 
Location: San Antonio
4,149 posts, read 9,311,940 times
Reputation: 3308
It IS a pretty good time to buy, because rates are so ridiculously low. You can afford so much more house now than in the past. Now, it's not exactly a "buyer's market" anymore. It's really actually pretty balanced right now. Places like Austin and Dallas are selling like crazy, and if history is any judge, we'll follow behind shortly.

And I disagree with buying new, for the most part. As iliveinsa said, if you buy new and plan on selling in the next few years, it's a nightmare to try and sell while competing against builders.

To tekka-maki's post about getting a realtor so you can try and negotiate them to give you their commission, that's a ridiculous comment for several reasons. When a realtor represents someone, they are now involved in a legal contract, so they have risk if either party decides they want to be litigious. A realtor would be stupid to sign on with someone JUST so they could make a VERY small amount and then be part of a legal contract. Not worth the risk. Secondly, I don't think you understand the role of the realtor in a new home build or buy. There are times that you'll get a realtor and the build will go smoothly. However, what you don't see are the times when it gets contentious and the Moderator cut: language hits the fan. THEN who are you calling to help you out? Yep...your realtor. So then you have a choice of being represented buy a bad realtor that decided to give you their commission. Or you could be represented by a GOOD realtor that can help you get the deal done and get the best deal for you. Regardless of what folks say, if you go into a deal with a builder without a realtor, you won't get that money put towards your bottom line. They may make it seem that way, but rest assured, you don't. They don't pay a realtor's commission out of the bottom line of your deal. Most of the time it comes from a corporate marketing budget.

If you're looking for a money grab, just save the time and save the realtor the trouble. If you're truly looking for someone to help you in the deal, which the realtor REALLY can if they know what they're doing, look for a good one and have them help negotiate the best deal for you.

Last edited by BstYet2Be; 11-04-2012 at 02:51 PM..
 
Old 11-18-2012, 11:28 AM
 
1,517 posts, read 2,478,254 times
Reputation: 336
Quote:
Originally Posted by kevcrawford View Post
It IS a pretty good time to buy, because rates are so ridiculously low. You can afford so much more house now than in the past. Now, it's not exactly a "buyer's market" anymore. It's really actually pretty balanced right now. Places like Austin and Dallas are selling like crazy, and if history is any judge, we'll follow behind shortly.

And I disagree with buying new, for the most part. As iliveinsa said, if you buy new and plan on selling in the next few years, it's a nightmare to try and sell while competing against builders.

To tekka-maki's post about getting a realtor so you can try and negotiate them to give you their commission, that's a ridiculous comment for several reasons. When a realtor represents someone, they are now involved in a legal contract, so they have risk if either party decides they want to be litigious. A realtor would be stupid to sign on with someone JUST so they could make a VERY small amount and then be part of a legal contract. Not worth the risk. Secondly, I don't think you understand the role of the realtor in a new home build or buy. There are times that you'll get a realtor and the build will go smoothly. However, what you don't see are the times when it gets contentious and the Moderator cut: language hits the fan. THEN who are you calling to help you out? Yep...your realtor. So then you have a choice of being represented buy a bad realtor that decided to give you their commission. Or you could be represented by a GOOD realtor that can help you get the deal done and get the best deal for you. Regardless of what folks say, if you go into a deal with a builder without a realtor, you won't get that money put towards your bottom line. They may make it seem that way, but rest assured, you don't. They don't pay a realtor's commission out of the bottom line of your deal. Most of the time it comes from a corporate marketing budget.

If you're looking for a money grab, just save the time and save the realtor the trouble. If you're truly looking for someone to help you in the deal, which the realtor REALLY can if they know what they're doing, look for a good one and have them help negotiate the best deal for you.
I stopped reading your comments toward me after the 1st couple of statements, as it belongs on a SABOR collegiate rack of honor somewhere and bears zero resemblance to the actual reality that is the San Antonio housing market.

I bought my 1st new home from Standard Pacific in 2007; put my realtor's name on a silly post card in the office, IN FRONT of the sales staff, and SP gave her 6k, and she gave me 2k which I used toward my purchase price on the home. Then, 3 years later, I sold my home, and my [new] very excellent realtor charged me 1% in commission. I will definitely use him again too, as he really did a remarkable job on my ad postings via MLS (where other realtors flat out sucked).

More food for thought: A buddy of mine just bought his 3rd *NEW* home near Stone Oak (Highland's Indian Springs community), and for the 3rd time, got a large cut of the New home builder realtor bonus. You seem to confuse this with a realtor commission; they are not one in the same. Have you ever purchased a new home in SA? Many do their own house hunting; so if anything, calling a realtor and saying, 'hey market genius, put your name here and give me some cash' is a service to a realtor, haha! Do you really think these are outlier examples?

As far as due diligence, I do my own; realtors can be helpful to a point but at the end of the day, they just want you to close on a home and to get paid. I know better than them what is the best house for me and of course, as a vigilant homebuyer, I'm going to do the best for myself. Perhaps some are better off with the hand holding, and someone who will charge them 3% to put post cards on peoples' doors, and bake cookies for open house, but that's not me.

anway, what I describe is completely commonplace and completely legal in SA; my closing docs even reflected the transaction. The notion that realtors giving back cash to close a deal in what is now (more than ever) a very competitive market is correlative to a 'bad realtor' is hogwash.

Lastly, your point about New home competing with new homes, while obviously true, is also true if you buy a used home. do you portend that people buying used homes don't compete w/ new homes? that's absurd... particularly in the tract home epicenter of America that is San Antonio.

I'd buy a used home in Austin, but see little point in SA, unless the deal is smoking hot. But it's hard to outmode home builders in this economic environment; they're just focused on volume of inventory, housing starts/permits. OTOH, homeowners are emotionally invested in recouping principal w/o staining their credit. Been there, done that. Thankful to have sold the house for what I paid (before collapse) and just be done w/ it. I'd never buy a nice home in a neighborhood even remotely crusty in SA; I'd rather have the crappiest home in an affluent neighborhood.

Good luck to you sir.

Last edited by tekka-maki; 11-18-2012 at 11:48 AM..
 
Old 11-18-2012, 11:55 AM
 
Location: San Antonio
7,629 posts, read 14,350,246 times
Reputation: 18705
WE have MADE money on each and every one of our investment properties...both in NC area (Medical center....Moderator cut: see comment sold for us in ONE day) and NW area....owned for a while, still came out ahead. SA is a GREAT market to invest in...and IF we had known them sooner, Moderator cut: see comment would be handling each and every one of our rentals!!!!!!!!!!!
Met them thru THIS forum....grateful and really happy with the services they provided US!!!!

Last edited by BstYet2Be; 11-19-2012 at 07:50 PM.. Reason: Per TOS, no specific real estate company/broker/agent name/website recommendations can be posted in forum - only by DM!
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