Any Concern About Overbuilding... (San Antonio, Spring: new home, neighborhood, buying)

[San Antonio Oasis]

DOES ANYONE HAVE ANY CONCERNS OF OVERBUILDING, THE NEW WESTSIDE, NEAR ALAMO RANCH, AND I JUST DROVE PAST THE BRIGGS RANCH GOLF COMMUNITY ON 211, AND HAVE NO IDEA WHAT THE PRICE POINT WILL BE, I KNOW MANY PEOPLE ARE LOOKING AT SAN ANTONIO AS THEIR NEW RESIDENCE, BUT ARE THERE ENOUGH PEOPLE COMING FROM OUT-OF-TOWN TO PURCHASES THESE BEAUTIFUL HOMES, OR IS THE AVG. INCOME EXPECTED TO RISE IN ANY WAY?

[oldmanshirt]

If that blows your mind, have you heard of the Preserve at Mitchell Lake? $350k homes on the South side.

[San Antonio Oasis]

where are the home buyers from...we must be getting many out of towners, who want to live here...good thing, i assume?....Are the Preserve at Mitchell Lake selling?...I guess they must be if the market is buying..

[Steel Man]

Originally Posted by San Antonio Oasis

where are the home buyers from...we must be getting many out of towners, who want to live here...good thing, i assume?....Are the Preserve at Mitchell Lake selling?...I guess they must be if the market is buying..

San Antonio Oasis...interesting name you chose...it kind of says it all in relation to this thread.

[saywhat?]

[quote=San Antonio Oasis;965346]DOES ANYONE HAVE ANY CONCERNS OF OVERBUILDING,

Yes, I'm worried. They keep building even tho inventory is way up there. Homes are not moving at all in San Antonio Ranch which are I am most familiar with - homes on market for over a year in many cases. Overpriced...SA does not economic base for most to pay high prices (especially with lending tightening up)
Yes, I'm worried. Builders are totally irresponsible in their scorched earth policies. SA is losing a lot of its personality and beauty all in the name of getting more and more people to move here and making us a city just like any other city - and driving up prices. I don't understand all the rah rah on this blog that bigger is better.

[San Antonio Oasis]

saywhat?...you seem to know Alamo Ranch...are people from out-of-town buying or more professionals...I've talked with people on the street and many are going to retire here...

[21bl0wed]

I think the only people moving to those places are out of towners.

[Bo]

Even though this thread is nearly a year old, it's a topic that hasn't been discussed lately. It seems like these upscale developments are continuing to be built.

[kevcrawford]

A lot of the production builders have scaled back while the inventory goes down a bit. They started planning these new communities way back when the market was incredibly hot. Now that it's slowed a little bit, they had to stop building like it was 2006. They're still doing a lot of custom builds.

The upscale market is still going like crazy. Places like Anaqua Springs and The Dominion are growing very rapidly and new homes are being built left and right. The upper end market is a lot more insulated than most people from temporary economy issues. If you have money, you have money. Most of the homes are bought cash.

Most of my listings are in the $750,000 - $3,000,000 range, and the majority of the buyers are from SA/Boerne. Some out-of-towners come around, but there's a ton of money in this town. More than you'd think.

[banker]

Originally Posted by oldmanshirt

If that blows your mind, have you heard of the Preserve at Mitchell Lake? $350k homes on the South side.

Never heard of it. I just tried looking it up on MYSA.com and it isn't listed as a neighborhood. Any other name? I have a hard time imagining folks with that kind of money building on the south side.