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Old 02-03-2013, 01:23 PM
 
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Is it because of the economy? Does it depend on the neighborhood? Are a lot of people leaving?
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Old 02-03-2013, 01:32 PM
 
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It's not San Antonio... If you travel around the country, you'll see that this city is actually doing better in terms of home value and how long folks are keeping their property. The buy-and-flip mentality is basically a dead thing here, for now at least.

I also have a home in South Florida and it's INSANE how many homes are for sale. Literally, seven houses on my street in old town are on the market, nothing is selling and people can't get out of their house debt if their life depended on it (and sometimes, it does). I'm very thankful I live in Texas, where the economy didn't hit us as hard as most other places.

If you look at our population numbers, it's clear people are moving here, not away. We continue to be one of the fastest growing metros in the United States.




BN
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Old 02-03-2013, 01:37 PM
 
Location: San Antonio
7,629 posts, read 16,378,819 times
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Because it is the 7th largest city in the nation and people are constantly moving here and away from here???!?!?!?

Not to mention, Military City USA if you want to count the number of people associated with base jobs...both civilian and military.

If you price right, and it is in the right location, and you hire the right agent...no problem. We have sold several properties here in SA...the longest was on the market for 28 days!
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Old 02-03-2013, 04:19 PM
 
Location: San Antonio, Texas
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There is also the glutton of investors and speculators that purchased foreclosed homes with the intent of flipping them to people moving here from California. I've also seen first hand Californians move here after selling their 'modest' 3/2 1800 sq ft home in LA County for 1 million and coming here and buying 4 brand new just like it or better and still have money to spend.
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Old 02-03-2013, 05:45 PM
 
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Yes, there are many for sale, but the good news is they are finally selling. Many of us bought at or near the top of the bubble, and despite what you might hear, we did have problems in SA. All you had to do was be watching the foreclosure map from 2008-2011. It wasn't pretty. Those foreclosure sales prices were used on comps and suddenly many who wanted to sell, found themselves underwater.
We had several military couples who had to rent out their homes for 2-4 years b/c they couldn't sell, BUT the good news is they are all sold now or under contract. We've decided to list and will have to bring a little cash to close, but not nearly what we thought.
Paka, with all due respect, I'm thinking you had equity in your rental homes. That makes a huge difference b/c you can "afford" to play around with listing price. Most of these sellers currently are now able to list and close without going into severe depression. Two homes in my subdivision had cash buyers in January. I think the worst is behind us and hopefully we've learned from it...hopefully.
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Old 02-03-2013, 05:59 PM
 
Location: San Antonio-Westover Hills
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You will always have houses for sale when you have two to three large military installments nearby. The question to ask is, what is the demand for them? From everything I hear, it's getting much better!
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Old 02-03-2013, 06:58 PM
 
Location: Tricity, PL
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Not a San Antonio phenomenon - there are houses for sale... everywhere.
People are selling, and moving to bigger or smaller houses, or to different parts of city or country. Others are buying those houses for the same reason.
It's happen everywhere in the US.
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Old 02-03-2013, 07:35 PM
 
Location: San Antonio
7,629 posts, read 16,378,819 times
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Quote:
Originally Posted by Cramowheat View Post
Paka, with all due respect, I'm thinking you had equity in your rental homes. That makes a huge difference b/c you can "afford" to play around with listing price. Most of these sellers currently are now able to list and close without going into severe depression.
True, and we did not buy at the top of the market as you said...but we did make a little money off of each of the sales. While SA has never seen the double the value gains that LOTS of our friends have seen in other parts of the US, we also did not bottom out like those places did. We have friends that bought at the top of the market in the DC area (who knew???) and are more upside down in the value of their home than what we PAID for ours! So good news is even if you bought at the top of the market here, you are probably not looking at HUGE losses like those that are in those areas where housing saw such HUGE gains over a very brief period of time.

We had friends retire from the AF and bought in FL...within 3 yrs time the value of that home had doubled!!!
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Old 02-05-2013, 12:22 PM
 
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Okay, I see. The military thing makes sense.
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Old 02-08-2013, 11:05 AM
 
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There are actually less homes for sale now than in years past. Much less. We're below a 6 month inventory on homes, which actually means we're in a seller's market.

There are always homes for sale everywhere at all times. When you start to look at buying or selling a house, you start to see them everywhere because you're in that mindset.

Kind of like getting a new car and then seeing it everywhere when you never noticed before.
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