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Old 10-27-2006, 07:32 PM
 
3 posts, read 12,810 times
Reputation: 11

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Hi Everyone,

Thanks for all of your help. I asked a series of questions awhile back about my move to San Antonio.

We have been there three times now looking at houses and are going again tomorrow.

It seems like many of the houses that we looked at a month or two ago are still on the market. Also, there is a site called Zillow.com that gives you a mini appraisal on houses that you are looking at. It indicates a decrease in prices for the month of October in San Antonio.

Is the San Antonio market beginning to cool down? It seems to be. We have decided to buy there but don't want to pay too much for the house that we buy.

It does stand to reason that since the San Antonio market was being fueled by buyers moving in who had cashed-out from other areas in the U.S. that those buyers would no longer have an easy time selling their existing homes;therefore, the San Antonio market would have less inmigration from other areas. This would cause a slow-down in the San Antonio market.

This is all just conjecture at this point. No one has been able to tell me what the housing market is doing.

I am concerned that the same houses that we were interested in two months ago are still sitting there unsold.

Can anyone help me? Does anyone notice a slowdown in the market?

Thanks for any help and information you might be able to provide.

Take care,

Colleen
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Old 10-27-2006, 09:13 PM
210
 
Location: san antonio - 210
1,722 posts, read 1,652,926 times
Reputation: 235
It's been stated many times on this forum that there is no slowdown. A real estate agent even posted here saying the market is still very hot. There have also been many articles written in the last few weeks that state that as well. It's not
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Old 10-27-2006, 10:55 PM
 
Location: Helotes, TX
469 posts, read 2,170,041 times
Reputation: 115
There was an article in the newspaper today re-stating that the SA market is not cooling. I've been to the Zillow website before and it was not accurate for the neighborhood I used to live in San Diego and it's still not accurate for the one I'm in in San Antonio. It's off by about $50k in my neighborhood, trust me, if it was accurate I'd have bought my nieghbors house that's 1/3 larger than mine. Same with the old neighborhood that I was in So Cal, way off. My old house was built in 1918 and literally fallen over, foundation is gone and nothing, not even the electric has been redone. Zillow priced it at $744k. The house next door to it is 3 years old and beautiful, the lot is a bit smaller but in a better spot (end of cul de sac on canyon) and it's valued at $680k. Zillow also appraised both of these houses for about $40k less 1 year ago. The San Diego market is horrid right now. I'm not sure why Zillow decided that they are worth more now than a year ago, they aren't even close.
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Old 10-28-2006, 08:23 AM
 
19 posts, read 61,583 times
Reputation: 14
Colleen,
I can not say what the San Antonio market is doing but I am a Realtor in Phnx and I can tell you things have slowed here. We had a crazy year last year with home prices going through the roof and lotteries for new homes. Buyers were having to bid homes up 10-20k over list, waive appraisals, inspections and repairs. Now its it taking months to sell resale homes (last year it took hours) and the new home builders are practically giving homes away. If things are slowing in SA that is not necessarily a bad thing for you as a buyer. You want to have choice in what you purchase and be able to negotiate the price and terms. Robert Kiyosaki points out that when Nordstrom has a sale, people will flock to it. But when the Real Estate market "goes on sale" everyone is afraid to buy. I think that is a very valid point.
Good luck, whatever you end up doing!
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Old 10-28-2006, 08:25 AM
 
19 posts, read 61,583 times
Reputation: 14
BTW, Michelle, I completely agree with you on your account of Zillow. I have yet to find it accurately price a home.
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Old 10-28-2006, 04:02 PM
 
Location: Western Bexar County
3,823 posts, read 13,371,828 times
Reputation: 1905
Default Zillow Prices

Quote:
Originally Posted by COtoAZ View Post
BTW, Michelle, I completely agree with you on your account of Zillow. I have yet to find it accurately price a home.
Well, my house is valued about right. A house just like mine a block away sold for $3,000 more than mine...and IMO my house is nicer. I also heard that you can send Zillow info on your house and they will post it in your data.
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Old 10-28-2006, 09:23 PM
 
Location: San Antonio
4,149 posts, read 9,327,191 times
Reputation: 3308
It's definitely not cooling. We're still in an incredible market right now. It's not as hot as California was a few years back, but that's good. We don't want to get over-valued and have it burst like California is doing.

We've still got too much room to grow outside our city limits, which will help to stabilize pricing. The market is just a very solid, steady growth, which is much preferred to one that grows out of control.
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Old 10-31-2006, 06:13 AM
 
74 posts, read 333,015 times
Reputation: 34
I purchased my home new and built it across from Sea World. I paid $76k in 98. The same house with no upgrades is now $120k. Everytime i see a FOR SALE sign go up in my neighborhood, it's almost immediately taken down because the property is sold. The prices on the houses NEVER come down. It appears that they always sell for slightly more than market value. No way it's cooling down. Even though prices have come up on the houses, the amount of square footage compared to other states is still VERY attractive. San Antonio may become the next "Florida."
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Old 11-07-2006, 01:00 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,990,438 times
Reputation: 991
Then I had better move to San Antonio soon or ill be priced out of that area! But I still doubt San Antonio will ever be as expensive as south Florida because theres enough land to go around plus the beaches arent as nice.
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Old 11-07-2006, 01:21 PM
 
Location: Lytle area
116 posts, read 429,671 times
Reputation: 55
Realtor came by our house about a month ago. I live near Sea World as well. She said average sell time for a house in our price range and our area was about five days. And that was skewed because of a couple of people holding out for more than their homes were worth... took them 19 or 20 days to sell.
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