Is this a good time to buy a house in San Antonio (Center: apartment, foreclosure)

[rd2007]

I almost bought in that area when I bought my house in 2002 and I really wish I would've. We were being realistic with what we could afford though (yeah, I know hardly anyone does that) and we felt the extra $20K would've made for too much of a payment. The houses we were looking at are now about double what they originally cost, so I'm actually regretting not risking a little bit more. In retrospect we could've easily afforded, sold it for a large profit, and got the fudge out of Texas.

[ashbeeigh]

It may not be a good time as a whole to move, for the country, but for you it may be a good time. Look into your finances and general wants and needs. A housing counseling agency can help you go over everything (it seems like you have the payments worked out well) to see if it is a good time for you to move. DM me for a good first time home buying program.

[TXtrkgrl]

Originally Posted by kevcrawford

Trying to judge the market is impossible. It's a little slower now, but that means that buyers have a little more pull right now. Bottom line is that if it's right for your family, it's right for your family. Don't try and time the market. People are still buying and selling houses in every market. As long as you don't overbuy for your income, you'll be fine.

And be weary of taking advice from certain posters saying it's not a good time to buy, when they're currently posting in the "real estate" CD forum asking for advice because they're considering buying a house.

I totally agree here. Do whatever is right for you, just don't bite off more than you can chew.

[hello13685]

As rd2007 said, house prices in the OP's preferred area doubled between 2002 and now. (No, bubble in San Antonio though, right??) I'd wait and see what's going to happen. That's what I'm doing.

[TexasNick]

House? Don't know, but as far as I know..I'm buying as much land as I can afford out in the hill country...seeing great prices now and definitely a buyer's market out there.

[wCat]

Originally Posted by TXtrkgrl

I totally agree here. Do whatever is right for you, just don't bite off more than you can chew.

double ditto

[TXtrkgrl]

Originally Posted by TexasNick

House? Don't know, but as far as I know..I'm buying as much land as I can afford out in the hill country...seeing great prices now and definitely a buyer's market out there.

Very smart move Nick.

[johnsonkk]

This reminds me of job assistance sites or classified forums for selling things. Only those that are still in the process of selling their home remain online to write negative things about home selling. I wish all the people going to house closings could find the time to post on here as well as those trying to sell. That would give both sides of the argument some floor time.

Part of this "buyer's market" has to deal with more inventory on the market. There are more people that need to sell - and are selling - which is giving the appearance of flooding the market. All the homes then find it more difficult to be competitive with so many more homes now available (percentage wise) than they did a couple of years ago.

Standard selling practices still apply: repairing everything that needs repair, removing clutter, proper staging, cleaner than clean, accurate pricing, patience, and willingness to accept any decent offer.


(Moderator Note: See the Real Estate forum for both buying/selling)

[Paka]

Originally Posted by apies1819

I have 2 friends who just built a home in that area. They love the area because we all work across the street I know they didn't pay that much for their home though. One paid 170 the other 180. One has a 4 bd rm and the other a 3. Did you also look at the ryland in Silver Oaks.

Noone can say with what the housing market will bring, but lets consider a few facts here.

You WILL have to live somewhere.

You WILL have to PAY to live there.

You WILL be paying yourself (housepayments) or someone else (renter).

You SEE that the area is sound and has provided your friends with a good investment if they paid $170-180 and now you can't find anything in that area for near that price.

Why would you NOT want to buy should be the question???

[SAFD_Wife]

I will second, third and fourth what everyone else is saying about it definitely being more about what is right for you and your husband. Forget about the market, that doesn't mean anything as long as you both have steady jobs and can afford the payment. Most people who post negative thoughts about the market are either a. trying to sell or b. not buying or selling and believe everything they hear on TV. We just recently sold our home in Silver Oaks, and although it was frustrating in the end we realized there is a buyer for every home and the real estate world continues regardless of "the market". Good luck with your move, and remember you need to be comfortable with the payments more than anything!