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San Antonio Real Estate is Heating Up!

Hello! I am so sorry readers that I have been ignoring woohoo4sa for a while.  I get really wrapped up in the holidays and work has been crazy!  In San Antonio, we really have been seeing the real estate market transition from a buyers’ market to a sellers’ market. Why this transition? Simply put, there are not enough homes on the market for all the buyers that are currently looking.  What does that mean for today’s buyer?  Less houses to look at.  And when you finally do find a house that you are ready to make an offer on, you may find yourself in a multiple offer situation.  Here are a few tips that can help buyers in their process:

1.    Be patient.  Low inventory means less homes for you to look at. If your real estate agent says he or she has shown you everything currently listed, they are are probably telling the truth.  You and your agent will have to check everyday to see what is new on the market.

2.  Get your finances in order. When you find your dream home, you have to be ready to make that offer. Now more than ever, sellers are not going to consider your offer without a prequalification letter from your loan officer.  Do not assume that sellers today are going to pay for all your closing costs.  With multiple offers, sellers have their pick and choosing of the offer that is best for them.  In some markets, buyers are offering more than list price.

3.  Select an experienced & proactive real estate agent.  Your agent needs to be diligently checking for new inventory that fits your needs and pass that information along to the buyer.  Sometimes looking for new inventory is more than searching the MLS. I have seen agents knock on doors that are not currently listed and ask if they are willing to sell.  With the rising amount of pocket listings (non-MLS), agents need to have a good working relationship with other agents so that they can find out about these sort of properties. That being said, the buyer needs to make sure they have good communication with their agent. An agent and buyer who are not aware of the homes that are new on the market WILL miss an opportunity.  An experienced agent will help guide you in this market and make sure you find the right home.

 

What do you think of our sellers’ market? Do you have any tips of your own?

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Mortgage Rates Are Increasing!

If you have been keeping up with the news, you may now know that mortgage interest rates are no longer record lows.  Financial analysts are predicting rates to increase to 5% by mid 2014.  While in the middle of searching for the perfect home, I have had a couple of buyers’ purchase power decrease because of the rising interest rates.  In one case, a couple I had been working with had their purchase power decreased by fifty thousand over a few months.  Needless to say, it’s pretty shocking news. It is important to make sure you have communication with your mortgage loan officer about how current interest rates can affect you.

Don’t let the rising mortgage rates scare you about the purchase of a home.  Home ownership is still attainable!  It was just a few years ago that we thought an interest rate in the 5’s was rock bottom.

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Home Education Event

RE/MAX Unlimited is holding its first home education fair at the PicaPica Plaza’s new event center located at 910 S.E. Military Dr.

Buyers, are you looking for more information about the home buying process?

What does a REALTOR® do?

Are you ready to build your dream home?

What loan is best for you?

How can I fix my credit?
If you are wondering the answers to these sort of questions, this event is just for you! The public will be able to get their real estate questions answered at no cost. Today’s market is starting to heat up. Now is the time to act to make all your real estate dreams come true!

Professionals from the following will be on site to answer your questions:
RE/MAX Unlimited-San Antonio
imortgage
Mission Title
KB Home San Antonio
Debt Free Angels
Hawx Insurance

Bring the kiddos. Take your pic taken with H-E-Buddy and participate in drawing your dream home. There will be raffles throughout the night.

For more info, contact RE/MAX Unlimited at 210.532.8774

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SOLD 714 Topeka Blvd San Antonio, TX 78210

I love looking and selling historic homes. They just do not make them like they used to! Features such as hardwood floors, high ceilings, and built-in ironing boards are some of my favorite characteristics in older homes. Check out this 2 bedroom, 1 bath home in the charming Highland Park neighborhood. It was built in the 1940’s.

What do you think of historic homes?

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SETH 5 Star Advantage Program

For home buyers, there are many programs available to help with the down payment. I have recently come across an exciting program called the SETH 5 Star Advantage. This grant allows up to 5% of the sales price. Like many programs, there are income and credit score guidelines to qualify. Check out senior loan officer, Rae Saldaña, as she explains the details.

So far, I have had 2 buyers use this program with positive results. Hope to have many more in the future! Let me know if you have any questions.

538 Creath Pl

SOLD 538 Creath Pl, San Antonio, TX 78221

Located in one of South San Antonio’s most popular neighborhoods, this 4 bedroom | 2 bath home is ready to be called home! Approx 1860 sq ft per BCAD, this one won’t last long. Take a look below and let us know what you think.

Call me if you have any questions or would like to schedule a showing.

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March ’13 Sales and Prices Are Up!

Wow, San Antonio’s real estate market is booming!  The San Antonio Board of REALTORS® is reporting lower DOM’s (days on the market), higher prices and increased number of sales for March 2013.  These stats are reflective of the increasing amount of home buyers deciding that now is the time to act.  Interest rates are not going to be at these historic lows forever. This may be your time to buy too!

For more info, check out the link below:

http://www.bizjournals.com/sanantonio/blog/2013/04/san-antonio-housing-market-posts-gains.html?ana=e_du_pub&s=article_du&ed=2013-04-15&u=iYIfXxIBb8DpVjcKqU5SZg022ed2bc

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New Downtown Project

With the river expansion and the Historic Pearl Brewery’s enormous success it is not surprising that real estate developers have their eye in the river north area. The Historic Henry Terrell building will be renovated as a mixed-used space including apartments and retails. For more details, check out the link below.

http://www.mysanantonio.com/business/article/1908-building-to-become-residential-work-retail-4410916.php

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Lowest Days on the Market!

 

The San Antonio Board of REALTORS® just released this press release…

Low Days on Market and Reduced Inventory Point to Healthy Housing Market

Single family residential homes spent a mere 99 days on market in February 2013, down four percent from this time last year, according to the February 2013 Multiple Listing Service report by the San Antonio Board of REALTORS®.

San Antonio’s residential real estate market is improving….Lower DOM means buyers are buying!