Real estate Bubble (San Antonio, Anton: sales, foreclosed, rental)

[coffeepotbend]

Do you think the San Antonio and greater area's real estate (homes) are still over priced, under priced, or just right/flat??? Thank you.

[kevcrawford]

There are a few overpriced, but most sellers are realistic right now and are pricing them correctly.

[TexasRedneck]

IMO, they were (for the most part) fairly priced to begin with. Some of the "hotter" neighborhoods were gettin' a LITTLE nuts - but compared with many other areas of the country, they were still reasonable.

[coffeepotbend]

That's good to here. I thought it seemed right on target, but I'm fairly new here and wanted to here what the long timers/locals had to say.

[scuba steve]

Several people near me have sold for what I think is kind of nuts (high), but there have been a more than a couple of sales in that range so maybe it was my expectations that were too low.

[kevcrawford]

If there have been a couple sales at those prices, then that's market value. Those homes had to appraise, and appraisers are tending to be a little stingy right now, so they're definitely not letting overpriced sales go through. You were selling yourself short. Good news for you though.

[Sharpydove]

All I know is our home is worth $30,000 less than we paid at the top of the "bubble"... we were victims of appraisal fraud. This house will soon be a rental until we can go to closing without wiping our savings. So, I do think pockets of SA had "bubbles"

[TexasRedneck]

Market corrections happen - and if you bought without considering the "per square foot" costs, well - ya goofed up. People are somewhat scared still - it's not that your home is worth less per se, it's more likely that you're in an area where the scared outnumber the sane.<G>
We're coming into the best time of year for home sales - hang tough. Have you had your place appraised, or are you saying that it's "lost" value based on the lack of offers? You might find it's more a factor of appeal to buyers - you need to take a critical look at your place from the eyes of a buyer, and see what's causing them to avoid it. Paint, clutter - curb appeal.....

[Sharpydove]

We are renting it out. Actually our yard is one of the prettiest in the development- the word "clutter" is not part of my vocabulary. Yes, we have had it appraised... two of our model foreclosed, which is what tanked us. We are moving on; investing in real estate is a gamble; it's all timing. Sometimes you win; sometimes you lose.

[punita_london]

I agree with Kevcrawford some seller overpriced their
property but some seller pricing them correctly.