SA ranked in top 5 cities with lowest chance of housing price decline (Houston: days on market, appointed)

[Stabart47]

Originally Posted by kevcrawford

Actually, Realtors like you speak of aren't in the business for long. I, along with many other good Realtors, have urged clients not to do certain deals if we think that it would be a bad investment, because we understand the value of long term happy clients and referrals. Anyone that plans on being in the business long term values referrals more than one check.

Now, if you'll look back at your recent posts, it's constant ranting and venting. Like I said...we get it. We understand you made a bad decision and there are more out there like you, but that doesn't mean the market is bad all over. It means that you're not in a good predicament. That sucks, it really does. It stresses your family out and it's no fun. I see it every day.

But one bad decision does not a market make. I hope your situation improves, but your posts aren't "warning" anyone. They're just venting.

The last time I checked, this was America...and I haven't broken any City Data rules or said anything offensive. YOU are in the business of sales and supposedly very busy. Funny, because you find a lot of time to spend on this forum. You make it sound like I'm on here swearing and screaming, which I am not. However, I will continue to post what I see and experience and frankly, I don't care what you think. You have your own agenda to put the SA housing market in a certain light. My only agenda it to tell what has happened to us and hopefully make potential buyers educate themselves more thoroughly than we did.

[Stabart47]

Originally Posted by cddweller

Stabart47, I'm sorry to hear about your predicament, what part of SA are you in? Hopefully you lost less than you would if you had been renting the past 3 years. As a 2005-2007 buyer I'm curious, I really haven't paid much attention to the valuation of my property.

Thanks, but it's ok... WE took a risk, signed papers, and made a huge mistake.
You might want to keep an eye on the value of your home by checking on sold comps, watch the Bexar County foreclosure map, and make sure your neighbors are paying their property tax bills. Watch for abandoned homes, which could be shadow inventory the bank has yet to even list.
Thanks, also, to the three CD members who sent me private mail saying they are in the same mess. At least we are not alone.

[TexasRedneck]

You're not, Stabart, unfortunately. But methinks it's not the market at this point, but rather the builder and their sales practices (along with build quality) that could well be doing you in - just as it did me in the 80's. One nice thing about a house is that no matter what, inflation alone will bring the value back up with time, as well as absorption of the excess inventory created by the foreclosures - it just takes time.

[Azure110]

Originally Posted by Stabart47

The last time I checked, this was America...and I haven't broken any City Data rules or said anything offensive. YOU are in the business of sales and supposedly very busy. Funny, because you find a lot of time to spend on this forum. You make it sound like I'm on here swearing and screaming, which I am not. However, I will continue to post what I see and experience and frankly, I don't care what you think. You have your own agenda to put the SA housing market in a certain light. My only agenda it to tell what has happened to us and hopefully make potential buyers educate themselves more thoroughly than we did.

Stabart47:

The only realtor you should be upset with is the one that sold you the house that you are stuck with. Even then, it is difficult for any realtor to predict the market 2-3 years from closing date of any home.

According to one of the graphs posted by sshurgot, I can clearly see how each realtor has different experiences based on the type of homes they sell. It seems that the higher priced the home is (ex. >400K), the less affected they are because they cater to clients that have money to spend and probably pay cash for their homes. They probably don't fully understand the market for homes under 200K. While the higher priced homes may sit on the market longer, the commission gained from selling these homes is much greater as opposed to those homes under 200K.

I do agree that many realtors in San Antonio do seem to have an agenda and that is to close as many sales as they can but I don't feel that all are like that.

It does suck that you are in a bind with your own house. I bought my house in 2007 and kinda feel the same way. However, I am not looking to sell my house at this time so I am not really worried about it at this point.

I hope that you will find renters long enough until you are able to sell your house at break even or profit.

[scuba steve]

Edit - DP

[kevcrawford]

Originally Posted by Stabart47

The last time I checked, this was America...and I haven't broken any City Data rules or said anything offensive. YOU are in the business of sales and supposedly very busy. Funny, because you find a lot of time to spend on this forum. You make it sound like I'm on here swearing and screaming, which I am not. However, I will continue to post what I see and experience and frankly, I don't care what you think. You have your own agenda to put the SA housing market in a certain light. My only agenda it to tell what has happened to us and hopefully make potential buyers educate themselves more thoroughly than we did.

Nobody said you couldn't vent or rant. You're welcome to do what you like. But again, one bad decision does not a market make.

You're welcome to think what you like about me, my motives or my "lack of business because I'm on the forum so much". You're also welcome to check out the business journal rankings when they come out if you like too.

[kevcrawford]

Originally Posted by Proffer

Stabart47, your posts are right on target. The real estate agent that post here are trolling for business (though they'll swear that they do not because they turn sooooo much business that they'd never need to--but they do). It's therefore their job to make San Antonio's market seem appealing to prospective new arrivals. Just take it all with a grain of salt.

Cute.

[scuba steve]

Originally Posted by Stabart47

However, I will continue to post what I see and experience and frankly, I don't care what you think. You have your own agenda to put the SA housing market in a certain light. My only agenda it to tell what has happened to us and hopefully make potential buyers educate themselves more thoroughly than we did.

That's why you'll see me following right behind; it's too hard to see BS and not speak up.

While the higher priced homes may sit on the market longer, the commission gained from selling these homes is much greater as opposed to those homes under 200K.

Commission from selling 3 houses at 150K > commission from selling one house at 450K. Also, look back at the volume in terms of what's sold. HTH.

[Mom2Feebs]

Originally Posted by Stabart47

As I've explained, we are moving due to my husband's new job and we have a renter for two years. I'm not "complaining"; I am only FRUSTRATED at how everyone in SA seems to be in la-la land regarding the housing market; like it's untouchable, when indeed it is struggling. It's always going to be wonderful through the eyes of a realtor because they are in SALES. They are excited to close the deal and get paid because that's their profession.
Also, as I've explained more than once, we had 3 days coming off of a remote and bought in a new area of Westcreek. Base housing was not available and not much to rent at that time. We trusted (foolishly) the realtor and the Armadillo salesperson as to who our neighbors were. I have said over and over that we take responsibility for this horrible decision. My goal now is to educate others (especially military people) and maybe they won't get stuck with a house like we are.

I agree that some folks have their heads in the sand over SA real estate; it's like reality has escaped them. I'm in a very nice area and in a very nice gated subdivision and we have homes here that haven't sold in a year. Obviously a lot of that is available inventory, because in my area they are building new homes right down the street comparable in asking price to our neighborhood ($200-$300K). We have a few stubborn folks in our sub who apparently do not live on the same planet as they don't want to budge on their asking price.

At some point, you have to be real with yourself, and either cut your losses or stay put...but expecting to break even or maintain any profitability just three years after buying a new home in a growing area is asking a lot, IMHO. I didn't know that was a lesson military people needed to learn...I figured they already knew that! Military Housing 101...

[sshurgot]

Originally Posted by Mom2Feebs

...in my area they are building new homes right down the street comparable in asking price to our neighborhood ($200-$300K). We have a few stubborn folks in our sub who apparently do not live on the same planet as they don't want to budge on their asking price.

When you buy a new house (especially from certain builders I'll refrain from naming), its physical condition is at its peak. When it's time to sell your now not-so-new house, buyers will take the brand new house around the corner rather than your similar five-year-old house on the market for the same price. Some of those houses don't age gracefully; it goes back to earlier comments about craftsmanship. (Modern materials aren't always an improvement either.) I sell houses that are 100 years old and they have good bones; I can't imagine what new 2010 homes will look like even in 30 years...if they're still standing.