Any new small (1,200 sq ft or less) single level homes for $140,000 or under available in San Antonio?

[TexasRedneck]

Originally Posted by bat1

RV sales are way up and I wonder why? Much cheaper then a home no crazy property Taxes too!

RV's have their own unique set of costs, too - like parking.... More importantly, they're sold with a one year warranty - so after that year, any issues are on YOUR dime - and nothing on a RV is cheap OR quick. Most components are one-off pieces (trim, etc), and even the more common parts usually involve a 2-4 week (or more) wait. A buddy of mine spent about 6 months as a service writer for one of the large local RV stores. He was constantly amazed at the size of the repair tickets on those beasts, and the resale value drops like a rock. They're also only designed for about a 10 year service life, and while you'll see many on the road older than that, they're usually owner-maintained to help defray costs.

If you ever get the chance, tour a RV manufacturer, or watch one of their YouTube videos on their construction. Note that most outer skin components are glued in place - which means taking them apart to get at something inside the wall is almost impossible. And structurally......well, let's just say that they ain't gonna take much of a lickin' an' keep on tickin!

[txbullsfan]

Still lookin. If anyone knows a newer home of a great value please PM me.

[cobolt]

Originally Posted by txbullsfan

Still lookin. If anyone knows a newer home of a great value please PM me.

I just don’t think you’re gonna find it at your price point. Older homes are going for higher than your price point and construction costs more now and demand is high. My friend is also in the market. She found a nice updated older home in an established market and that home was under contract after being on the market 4 days. She didn’t even get time to view it other than online. Nothing her realtor is sending her is at or lower than her price point and none of it is new.

Affordable is gone unless you’re coming in from a high cost of living area. My rent is cheaper than most mortgage payments here. Me, im renewing my lease and casually looking, but will most likely move from the area. The property taxes are insane.

Good luck

[resonator]

At that price, it would take almost as much in repairs to make it liveable.

[txbullsfan]

Originally Posted by cobolt

I just don’t think you’re gonna find it at your price point. Older homes are going for higher than your price point and construction costs more now and demand is high. My friend is also in the market. She found a nice updated older home in an established market and that home was under contract after being on the market 4 days. She didn’t even get time to view it other than online. Nothing her realtor is sending her is at or lower than her price point and none of it is new.

Affordable is gone unless you’re coming in from a high cost of living area. My rent is cheaper than most mortgage payments here. Me, im renewing my lease and casually looking, but will most likely move from the area. The property taxes are insane.

Good luck

Thanks for your response.

It is a shame. 150,000 used to get one a small but decent house on a small lot here in SA. SA used to be a cornerstone of affordable living.

Prices of renting a house/apartment or buying a home here in SA have skyrocketed. As more affluent people migrate here from places like California, Florida and New York, this trend will continue. These prices are dirt cheap for those migrants coming from more affluent areas. These prices may be unsustainable for locals but not for the migrants of other states.

Local first time homebuyers are and will be priced out of purchasing a home because of high purchase price and property tax. Property taxes will continue to skyrocket as home values continue to escalate because of the high demand and low supply of housing. Some are already complaining about this. This doesnt just affect first time homebuyers. The increased property values (and subsequent higher property taxes) because of competition and demand among desperate buyers will further drive up rent costs of both houses and apartments as they pass on costs to us. Its a terrible upward cycle, not just for first time home buyers or renters, but for home owners who are looking to stay here as they will start paying through the mouth on property taxes. No one wins except sellers who sell and cut and run from SA to a more affordable area.

Your story of your friend is not a "one off" Ive put bids on homes and bid the asking price, only to be outbid immediately or within a day or two. Sometimes its another person offers more then asking price, sometimes another customer offers to pay asking price plus the sellers costs. It happens every...single....time. Its insane for people looking to something of my own. Im stuck in a bad spot. No relief in sight. Sellers market for sure. Not a buyers market.

Apartments here in San Antonio are at capacity or close further driving up pricing for customers. The mentality may be, why lower the price on the apartment or home I am renting out to a renter if people are desperate, have no where else to go and keep coming to me regardless of what I charge? Mo money Mo money!

[cobolt]

Originally Posted by txbullsfan

Thanks for your response.

It is a shame. 150,000 used to get one a small but decent house on a small lot here in SA. SA used to be a cornerstone of affordable living.

Prices of renting a house/apartment or buying a home here in SA have skyrocketed. As more affluent people migrate here from places like California, Florida and New York, this trend will continue. These prices are dirt cheap for those migrants coming from more affluent areas. These prices may be unsustainable for locals but not for the migrants of other states.

Local first time homebuyers are and will be priced out of purchasing a home because of high purchase price and property tax. Property taxes will continue to skyrocket as home values continue to escalate because of the high demand and low supply of housing. Some are already complaining about this. This doesnt just affect first time homebuyers. The increased property values (and subsequent higher property taxes) because of competition and demand among desperate buyers will further drive up rent costs of both houses and apartments as they pass on costs to us. Its a terrible upward cycle, not just for first time home buyers or renters, but for home owners who are looking to stay here as they will start paying through the mouth on property taxes. No one wins except sellers who sell and cut and run from SA to a more affordable area.

Your story of your friend is not a "one off" Ive put bids on homes and bid the asking price, only to be outbid immediately or within a day or two. Sometimes its another person offers more then asking price, sometimes another customer offers to pay asking price plus the sellers costs. It happens every...single....time. Its insane for people looking to something of my own. Im stuck in a bad spot. No relief in sight. Sellers market for sure. Not a buyers market.

Apartments here in San Antonio are at capacity or close further driving up pricing for customers. The mentality may be, why lower the price on the apartment or home I am renting out to a renter if people are desperate, have no where else to go and keep coming to me regardless of what I charge? Mo money Mo money!

I’m in the same boat as you and I get it. I’m pulling for you.

I read a really interesting article today about the SA housing situation and I can’t find it right now, but if I do, I’ll link to it for you. It outlined all the housing cost drivers in this market 1) influx of people from more affluent parts of the country who can plunk down cash 2) low inventory 3) higher cost of building materials and building in general (building codes and local tape can add up to 30% building costs 4) shortage of construction workers 5) Less entry level homes being built ( I think from 2015 to now it went from 30% new construction starter homes to some percentage in the single digits). They’re building bigger homes at higher price points to drive up profits or recover costs. The other interesting point was the trend to build luxury apartment complexes or renovate older ones into luxury to rent at a higher price point. The no frills, basic affordable apartment complex is going the way of the dinosaur in favor of the high end finishes, spa type pool, etc apartments. People like us on a budget don’t need that. And regular folks are getting priced out of rentals as well. So where do people go?

Not only that but there was an article this weekend about how many long-time SA homeowners whose homes are paid off are getting taxed out of their homes. I think TX is the new CA and it may be time to hit the dusty trail in a few years.

Only time will tell.

[Lee W.]

Maybe after the next big economic crash, home prices will come down. Otherwise, it'll only go up.

[txbullsfan]

Originally Posted by cobolt

I’m in the same boat as you and I get it. I’m pulling for you.

I read a really interesting article today about the SA housing situation and I can’t find it right now, but if I do, I’ll link to it for you. It outlined all the housing cost drivers in this market 1) influx of people from more affluent parts of the country who can plunk down cash 2) low inventory 3) higher cost of building materials and building in general (building codes and local tape can add up to 30% building costs 4) shortage of construction workers 5) Less entry level homes being built ( I think from 2015 to now it went from 30% new construction starter homes to some percentage in the single digits). They’re building bigger homes at higher price points to drive up profits or recover costs. The other interesting point was the trend to build luxury apartment complexes or renovate older ones into luxury to rent at a higher price point. The no frills, basic affordable apartment complex is going the way of the dinosaur in favor of the high end finishes, spa type pool, etc apartments. People like us on a budget don’t need that. And regular folks are getting priced out of rentals as well. So where do people go?

Not only that but there was an article this weekend about how many long-time SA homeowners whose homes are paid off are getting taxed out of their homes. I think TX is the new CA and it may be time to hit the dusty trail in a few years.

Only time will tell.

I agree with everything you stated. I too have read about those factors you listed in multiple articles. as you perfectly said, the result of this is people are getting taxed out of their homes, basic affordable apartment complexes are going the way of the dinosaur as non local investors renovate older apartments/develop new apartments into luxury apartments with luxury profit price points and regular folks are getting priced out of rentals due to rising rental costs across the board as more move here and compete with availability. Everyone here in SA (homeowner and renter) is being hit by this, except those who rent out properties (they can just raise rent) and those who sell and leave.

So where do we go? Good question. Cant buy because of exorbitantly high sales price and property tax, struggle to rent because those costs are being driven up too. I agree with you Texas, not just SA is becoming the new Cali. At least the pricing is on the trend to become it.

[EIL9]

This one says built in 2018. Maybe it was torn down for a re-build?

https://www.zillow.com/homes/for_sal...336_rect/9_zm/

[ged_782]

Originally Posted by EIL9

This one says built in 2018. Maybe it was torn down for a re-build?

https://www.zillow.com/homes/for_sal...336_rect/9_zm/

Yeah, Previous Google Street Views show a vacant lot, with evidence of a prior structure there. The most recent 2016 photo shows that house under construction, but still not completed two years later? Why? Looks like the only new house in a neighborhood of older homes on the west side, next to Cassiano Homes.


If that's all I could afford to spend on a home purchase, personally I would keep looking.