When is the home buying season?

 (a case study of the Stone Oak area)

The title is a loaded question. So, let’s clear things up by stating that I am asking when is the best time of the year to look for and purchase a home within the Stone Oak area. 

To answer this question, I completed a market analysis of the general Stone Oak area inclusive of all single family homes regardless of size or price over the past three years. As a homeowner and Broker, my opinion tends to focus on price and competition more than on the amount of available inventory.  I like to think I made a good purchase price-wise, and I don’t like to be involved in bidding wars on a property with other buyers.  I understand that many of us are not afforded the luxury of purchasing when we want to but rather when we have too due to jobs schools or what have you.

When looking at the closed transactions over the past three years, July consistently has the largest number of closed transactions, and they were twice, if not three times the number as the corresponding January.  June is just slightly behind with August being third for all but one year.  It is important to keep in mind that these statistics are based on the date the home closed and funded.  Therefore, the homes were escrowed under contract between 30 to 60 days prior in most cases.  With that in mind, April, May and June are noted as the hottest selling months within the Stone Oak Area. 

Another interesting factor concerns price per square foot. Of the three months evaluated, February has the lowest price per square foot sale prices two of the three last years.  Remember, that these sales more than likely occurred during December or November.

So, what‘s the take away?  Well, if you are like me and value price and limited competition, the fall is the beginning of the home shopping season with the best deals being made in November and December.  

Last, I would mention that there is just as much valuable information contained within this study for those wanting to sell their home.  When you are considering a Realtor, remember there are some that really study the market tends and offer much more than a sign in the yard and an internet posting.  I invite you to allow us the opportunity to interview for your business.  You will appreciate our professional approach.

Bill Barkley

Owner & Broker of River Valley Real Estate

19202 Huebner Rd. Suite 100

San Antonio, TX 78258

210-853-5327

bill@rvreco.com

www.rivervalleyre.com

Sellers – Protect your interests and your money!

 I am starting to notice an alarming new trend happening during real estate transactions.  Sales not closing as per the signed and agreed to contractual closing date.  This is a violation of the terms of the sale, and grounds for termination of the contract by the seller. 

 Whether the delay is caused by the buyer, the lender, the association management company, the surveyor or the appraiser, is not the issue.  The issue is that the delay is costing you, the seller, money.  Real estate taxes, homeowner association fees and interest accrue every day the property is in your name, and these unexpected increasing expenses were not incorporated into the agreed upon sales price and contractual terms.

 Do you have recourse? Of course, you can terminate the contract and start over, or you can try to negotiate that the buyer be responsible for the increasing costs when they present you with an Amendment to extend the closing date.  Both options are unfavorable with the second adding risk to the negotiation and finalization of the deal.

 So, what do I suggest?  I’m working with an attorney to provide the appropriate legal verbiage to add to the Special Provisions section of the contract stating from the onset of the contract that the buyer will be responsible for any added expenses to the seller for any and all delays extending the closing beyond the original closing date as specified in the contract not caused by the seller.

 For you potential sellers out there, I just wanted to alert you to a potential issue, and provide you with ideas to advert loss of your hard earned money.

Written by, 

Bill Barkley, Owner & Broker for River Valley Real Estate

River Valley Real Estate

19202 Huebner Rd, Suite 100

San Antonio, TX. 78258

210-853-5327

www.rivervalleyre.com

Selling Your Home

                         Have you been thinking about selling your home?

The first questions sellers typically want to know are:

            How much will my home sell for?

        How long will it take to sell?

        How much will I have to pay in closing costs?    

  To answer the first question, River Valley will complete a detailed inspection of your property, and prepare a comparable market analysis based on the most recent sales and current listings within the immediate area. This analysis will provide you with specific residential sales history, and we will be able to give you a strong indication of your home’s value.

  The second question depends on three primary factors: the current state of the market, selling price and condition of the property.  Any of these three factors can have a dramatic effect on how long your home sits on the market. Overpricing a property or allowing a property to be shown in poor condition will ultimately increase the time your property requires to sell.

  Lastly, seller’s want to know what it will cost to sell their home. A good rule of thumb is 8% to 10% of the sales price.  The range is due to unknown variables such as real estate taxes, HOA fees, concessions, repairs requested by the buyer, and the buyers financing.  VA and FHA buyers typically request the seller to pay some of the buyer’s closing costs which can also increase the percentage.  Realtor fees or commissions are not fixed, however, the market does provide an indication of current commission rates.  Typically, the listing agent will offer half of the contracted rate to the buyer’s agent for bringing in a qualified buyer and for working the buyer’s side of the transaction.

  River Valley Real Estate will gladly provide you with our formal listing presentation at no cost. This presentation will outline our service, provide you with a competitive market analysis and demonstrate our marketing platform.  We are confident that after seeing the type of real estate brokerage service we provide, you will consider working with River Valley Real Estate Company.

Stone Oak and the Residential Market

78258 The Residential Market - A look back at  2014 and looking ahead to 2015

 

The foundation of River Valley Real Estate Company was developed on four corner stone principles:

1.  Trust and Confidence

2.  Knowledge and Determination

3.  Professional Ethics and Moral Values

4.  Consideration and Understanding

Each principle of our foundation is to successfully provide an exceptional real estate transaction experience. At the onset, every representative of River Valley Real Estate Company must develop and earn the trust and confidence of our client. This is accomplished through the demonstration of extensive real estate knowledge coupled with the determination to provide exemplary customer service. The stability of our foundation is anchored by unyielding professional ethics and moral values. The final supporting principle is our commitment to understanding each individual client’s position, placing emphasis on consideration of their primary needs and desires required to fulfill a fully satisfying real estate experience. In short, it’s the personal relationships which matter the most. One client and one deal at a time worked through to completion to the best of our ability with a common goal.

In addition to an introduction, we would like to share some information regarding the residential real estate market in Stone Oak. Enjoy our analysis of the year 2014 and 2015 through April 30th.

According to the information provided by and obtained from the SABOR MLS system:

•   1,145 homes sold within the 78258 in 2014.

•   These sales included homes from at least 80 subdivisions.

•   The average sales price in 2014 was $333,193.74

•   The average sales price per foot was $111.36.

•   Homes sold and closed within an average of 109 days on the market

•   They sold for an average of 96.05% or their original list price.

Subdivisions selling for the highest price per square foot were:

1.  Greystone County Estates

2.  The Gardens at Greystone

3.  Champions Ridge

4.  Big Springs in the Hills

5.  Point Bluff.

The most affordable subdivisions based on price per square foot were:

1.  Champion Springs

2.  The Meadows

3.  Peak at Promontory Point

4.  Las Lomas

5.  Stone Oak Park

Homes sold with the shortest marketing periods were:

1 Stone Oak Meadows

2.  Meadows of Sonterra

3.  Timber Oaks North

4.  Stone Valley

5.  Breezes at Sonterra.

These subdivisions all had marketing times of 34 days or less. Lastly, these four subdivisions sold homes for at least 99% of their original list price:

1.  Champions Village

2.  Stately Oaks

3.  Mesas at Canyon Springs

4.  Villas at Mountain Lodge.

So far, 2015 has been good with regard to residential real estate in the Stone Oak area.

•    299 Homes have closed and funded as of April 30th

•   An additional 131 pending sales are awaiting closing.

•   The total of 430 homes either having sold or pending closing represents approximately 37.5% of 2014 total closed transactions.

•   The average sales price in 2015 is $342,632.33.

•   The average sales price per square foot increased to

$114.34.

•  The average marketing time has decreased to 98 days.

•    Properties are selling for 95.98% of their original list price.

•   Currently, there are only 314 homes actively being offered for sale on the market with many having a current status listing as being in Active Option.

•   The average list price per square foot is $121.79.

Subdivisions with the largest increases in asking prices include:

•  Estates at Champions Run

•  Gardens of Sonterra

•  Meadows of Sonterra

•  Mount Arrowhead

•  Rogers Ranch

•  Salado Canyon

•  Stone Canyon

•  Summerglen

•  Gardens at Greystone

•  The Overlook

•  The Pinnacle

•  Village in the Hills

•  Village on the Glen

•  Woods of Sonterra

For Buyers, the subdivisions with the most competitive prices per square foot include:

•  Canyons of Stone Oak

•  Champions Springs

•  Crescent Oaks

•  Fairways of Sonterra

•  Meadows of Sonterra

•  Quarry at Iron Mountain

•  Saddle Mountain

•  Sonterra/The Highlands

This is a sample of the market research we provide at River Valley Real Estate Company,  and  we would be happy to provide you with a personal assessment of your property. In addition to an in-depth market analysis, we offer professional quality photography, innovative marketing strategies, constant communication, experienced contract negotiation and most of all a pleasant and professional Realtor/Client relationship. 

Contact us today @ 210-853-5327 or visit our website @ www.rivervalleyre.com

 
Thank you,
Bill Barkley, President and Broker for RVRE

River