SA Home Sales Drop 17.3% from Jan. 2007, Median Sale Price Down 1.9% (rent, to buy)

[kevcrawford]

Exactly!!!

[firstclassflyer]

Because it's even worse elsewhere.

[texdav]

Just look that the other threads;they are telling why.It's not just SA either.Austin seems to be the most popular unless they have a firm job offer.Many other parts of the state have booming economies are effected even by movement within the state.

[banker]

Folks - kevcrawford has a lot of good things to say. I just sold a home in Churchill Forest for $179,000 with a $5,000 give back for an old roof...so net sale of $174,000. I listed it for $179,900 and had a contract in five days. The house is 1,732 square feet - so I sold it for $100.46/foot. I purchased it in the fall of 2001 for $113,500 or $65.53/foot. How can you say the sky is falling when you have sales like that? The neighborhood is a 25 year old community full of tract homes located of Blanco inside 1604. The weakness in Stone Oak and communities north of 1604 are suffering more due to the ever increasing cost of gas and the horrible commute. So...to say homes are selling slow in Stone Oak or Timberwood - so the market must be collapsing is faulty logic. What we are seeing is a change in the available qualified buyers combined with a new interest and move to be inside 1604 as apposed to outside 1604. Sadly - all the development and a lot of the new inventory is located outside 1604 from the west side, to North Central to the East side.

San Antonio Housing is soft...in some areas and hot in still others...like where I just moved from.

Being a seller of a 25 year old home that went from listing on MLS to closing and the wire hitting my checking account in a total of 23 days...I can tell you there is still strength in our market.

The sky is not falling - just changing.

[hello13685]

So wait, the "few incredible years" that California, Florida, and Arizona had are resulting in reversals, but the residual prices from the "few incredible years" in SA will stick. How convenient! Appreciation in SA has gone from 8% down to 4% and of course this--to the six percenters--is to be touted to the naive prospective customers as a leveling off (not and decline that IS JUST GETTING STARTED). The creative financing is the reason that those "few incredible years" existed. This financing artificially propped up the values.

And so readers are aware, at least one of the people on here saying that the in-town neighborhoods are insulated from price declines, owns investment property in one of those neighborhoods.

Don't get me wrong. I do hope that Texas increases its prosperity. I benefit from a strong Texas economy as well. I just don't think that housing is where it's going to be.

[kevcrawford]

Thanks Banker. I'm not trying to preach that everyone's making tons of money in real estate and that housing values will make us all rich. I'm just saying that this is a normal market. People don't need to be frightened and running for the hills. There is no perfect market to buy or sell in.

That's a good way to put it. We've just changed a bit. It's very easy to adapt.

And congrats on the quick sale. That's great.

[banker]

Originally Posted by hello13685

So wait, the "few incredible years" that California, Florida, and Arizona had are resulting in reversals, but the residual prices from the "few incredible years" in SA will stick. How convenient! Appreciation in SA has gone from 8% down to 4% and of course this--to the six percenters--is to be touted to the naive prospective customers as a leveling off (not and decline that IS JUST GETTING STARTED).

And so readers are aware, at least one of the people on here saying that the in-town neighborhoods are insulated from price declines, owns investment property in one of those neighborhoods.

If the market falls to a normalized level - the areas with exceptional increases will fall the farthest. Ours never exceeded 10% per year...so even if our appreciation rate does fall...it the drop will be shallow. Areas like Phoenix, Miami, LA, Las Vegas are dropping like a rock because they were sky high just a few years ago. Our market was never that over heated.

[kevcrawford]

Originally Posted by hello13685

So wait, the "few incredible years" that California, Florida, and Arizona had are resulting in reversals, but the residual prices from the "few incredible years" in SA will stick. How convenient! Appreciation in SA has gone from 8% down to 4% and of course this--to the six percenters--is to be touted to the naive prospective customers as a leveling off (not and decline that IS JUST GETTING STARTED).

And so readers are aware, at least one of the people on here saying that the in-town neighborhoods are insulated from price declines, owns investment property in one of those neighborhoods.

"Incredible years" mean growth of 8% in some places. That's good growth. Not 25-30%, which is resulting in the 20-25% losses they're experiencing.

Nice try though. Keep on "debunking".

You seem to get a kick out of jumping online to tell people everything is horrible. If that's what you enjoy, that's fine. Just understand that there are some of us out there that actually KNOW what's going on in the market and that nothing you say will sway anyone. You're just seem like you're trying to get everyone to come sit in your shelter with you and wait for the world to end.

[hello13685]

As I've said before, it's only "doom and gloom" to commissioned personnel and homedebtors. To uninvested people like me, a falling home price scenario is a beautiful, budding flower, and I couldn't think of anything more positive and hopeful. For people like me, who have saved and are sitting on a ton of cash, the world is only beginning (hyperinflation notwithstanding).

[banker]

Originally Posted by hello13685

As I've said before, it's only "doom and gloom" to commissioned personnel and homedebtors. To uninvested people like me, a falling home price scenario is a beautiful, budding flower, and I couldn't think of anything more positive and hopeful. For people like me, who have saved and are sitting on a ton of cash, the world is only beginning (hyperinflation notwithstanding).

Univested...so you rent? How long have you been sitting on the sidelines waiting to buy? It seems as though even with the current soft market - even if you had purchased in the past five years - you would be better off today.