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City of San Antonio Increases HIP Limits!

For a first time home buyer, there are many down payment assistance programs that are available. It is important for a buyer to select a loan officer and a REALTOR® who are knowledgeable in these programs so that a buyer can participate if eligible.  Most of these programs do have income, credit and family size criteria and you usually will have to take a home buyer education course (either online or in person). The City of San Antonio’s Department of Planning & Community Development has a great Housing Incentive Program (HIP). They have just announced the maximum sales price for a pre-existing home has been increased to $150,000 and a new construction’s sales price has been increased up to $200,000! The home must be located in the City of San Antonio and meet some condition requirements.  A buyer can get up to $12,000 in assistance!

Be sure to check with your lender or REALTOR® about qualification guidelines as program requirements and/or sales prices may change. For more info on HIP and other city funded programs, check out the City of San Antonio’s Affordable Housing Policy

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2015 Texas Associations of REALTORS® Conference

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Ft Worth Convention Center
As a real estate broker licensed for 14 years (15 in January!), I love that our industry IMG_1648[1]continuously changes. I am the type of person who enjoys learning new things and visiting places I haven’t been before. This is why I LOVE conferences.  You get a chance to meet other professionals with a thirst for education who strive to be the best version of themselves AND you get to play tourist in your down time. I just came back from my first Texas Associations of REALTOR® conference in Ft. Worth.

IMG_1654There were a lot of highlights on this conference including the kickoff of the new Texas Young Professional Network! I have been a part of the Greater San Antonio Young Professional Network over the last couple of years so it’s pretty exciting to take our efforts to the next level. Keynote speaker, Chesley B. “Sully” Sullenberger, delivered a very inspiring account of the “Miracle on the Hudson”.  My daily problems just didn’t seem so important after listening to him and what he went through. The Governmental Affairs meetings reminded how our Association works to protect homeowner’s rights.  There was a lot of talk about the upcoming vote on Proposition 1 which would increase the homestead exemption and add a constitutional ban on a real estate transfer tax.

Yeehaw
Yeehaw!

Downtown Ft. Worth was beautiful with water features, IMG_1655picturesque, white lights outlining the buildings and a newly, designed Sundance Square.  Eating dinner on a rooftop is always fun too and the weather couldn’t have been better. I got a quick tour on the free Molly Trolley. I think San Antonio is on the right track with their free E Service.

 

Overall, I thought it was nice conference.  I think that if you serve on a TAR committee, you will definitely get more out of the whole experience.

 

Did you attend this conference? What did you think?

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King William Historic District Market Update-March 2015

Pioneer Bakery
Pioneer Bakery

Wow, the King William Historic District homes for sale market is really heating up! Like most of San Antonio, King William’s inventory is low.  The average list price is $443,625 with the average sales price being $538,000.  Last March, the average sales price was $287,500.   These figures are based off only a handful of properties. With all the recent attention on our city’s urban core, we are seeing buyers and investors are really take note of this neighborhood.

Contact Sara Gerrish for more info. 210.639.8151

Data from San Antonio Board of REALTORS®

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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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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.