Bad news for those in market to buy a new home - San Antonio is most over valued market in nation

[KS23]

Its all about demand. The number of people moving here has increased and coming from cities where the cost of living is higher they can get more house for less than what they are used to. Good for them, bad for the San Antonio natives.

[tennis32801]

Moved to SA in May, and currently renting on one of those apts on Broadway near the Pearl. Been browsing on Zillow, etc for possible house purchase next year. Man was I bummed on what they asking for near the downtown core area. $250-300k for some run down houses. Especially when downtown SA has NOTHING much to offer compared to Austin, or Orlando where I'm from. SA is just so run down looking, and disconnected. There's some good value up near Stone Oak and north, but I really don't want to commute that far to work. Count me in as thinking (and hoping) for a bubble in the next 36 months.

[TXEX06]

Originally Posted by tennis32801

Moved to SA in May, and currently renting on one of those apts on Broadway near the Pearl. Been browsing on Zillow, etc for possible house purchase next year. Man was I bummed on what they asking for near the downtown core area. $250-300k for some run down houses. Especially when downtown SA has NOTHING much to offer compared to Austin, or Orlando where I'm from. SA is just so run down looking, and disconnected. There's some good value up near Stone Oak and north, but I really don't want to commute that far to work. Count me in as thinking (and hoping) for a bubble in the next 36 months.

Considering all the large scale development that is already in the pipeline for lower Broadway (2100 Broadway, 1603 Broadway, Lower Broadway office towers, Broadway and Jones, McCullough Lofts, 711 Broadway, etc) and the transformation of Broadway into a complete street, expect prices to keep increasing. I suggest looking around Alta Vista or even Roosevelt in Southtown for a home. Or stop renting a high price apartment for the next 36 months, and put that extra money into a down payment for a home. The urban core of San Antonio is still affordable compared to most major cities. Still some cool and very affordable homes in Ridgeview/Schearer Hills. That places you across 281 from the Quarry/Alamo Heights and less than a 5 minute drive to The Pearl

I lived in Austin for almost 10 years. Nothing too great about the city, and I wouldn't pay those home prices to live in the Texas heat. Orlando roads are infuriating with all the tourists not having any clue on where to go.

[Randyk47]

Originally Posted by KS23

Its all about demand. The number of people moving here has increased and coming from cities where the cost of living is higher they can get more house for less than what they are used to. Good for them, bad for the San Antonio natives.

Very true. We moved here from the Washington, DC area and were able to sell a townhouse in Northern Virginia and then buy a single family home with a pool up in Canyon Springs on the golf course for the same money. Right now homes in the community are selling extremely well. A couple of houses that had been on the market a year or more ago and didn’t sell were recently relisted and sold immediately. In one case on our cul de sac two families went after the same house. The one that didn’t get the house literally walked across the street to a house that wasn’t on the market and obviously made an offer the owners couldn’t refuse. While the market here doesn’t approach the insanity we used to see in the DC area the present environment here reminds me of the sometimes boom or bust real estate market up there.

[flashfearless]

Folks pining to hold onto the 'ol days of $200k homes in SA just need to get over it or buy a fixer upper.

[txbullsfan]

Originally Posted by Juventud Guerrero

I really think it's a bunch of hoopla that people in San Antonio are buying into for some reason. I have lived in San Antonio for a good while and people have been saying that it will explode in population for decades, it still hasn't happened.

I really don't ever see San Antonio becoming one of these cities that are expensive and trendy.

https://www.texastribune.org/2018/05...ouston-growth/

San Antonio has exploded in growth. People from all over the country are and have moved here in droves. This has driven up home costs, rent prices, property taxes etc. Basically, cost of living has increased. Wages at the bottom (minimum to a few dollars above) and middle have remained largely stagnant. This means that people are being squeezed in these segments and living outside their means.
https://www.lendingtree.com/finance/...n-their-means/

More people in SA are being priced out purchasing homes, being priced out of rents, the homeless and those at risk of it is increasing, and more are living in poverty and outside their means and in doing so, dangerously close to homelessness and/or inadequate living conditions for themselves and/or family.

While Texas is still a Red state (slowly turning blue) and some poo poo government intervention, this is exactly the reason why we need a government that intercedes for the best interest of the people. The local and national market is not "self correcting". Its predatory.

Many (fortunately not all) businesses will continue to pay the bare minimum/cheap labor or only slightly above despite the hardships it creates on millions of people until someone with power/money calls them out or makes the necessary changes. Many will struggle and possibly succumb without intervention. That is not right and we have the power and intelligence as human being to to stop it. Will we? I think so.