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

Basics to Real Estate Investing

Basics to Real Estate Investing

 

  With interest rates being so low, putting your money to work at the bank just doesn’t provide the desired return.  The uncertainty and recent decline in the stock market makes such investments risky, and to employ a broker with quality knowledge is expensive per trade.  Real Estate is the other common alternative.

  Today, you can’t turn on the radio or television without hearing someone advertise about their program for easy real estate investment with little or no money down.  I wish it was really that simple. The plain truth is that it is not easy or simple, and if it were, those same people would not be selling their program.  They would be sitting on their private island counting their money.

But don’t let me discourage you completely because I confidently believe real estate is one of the best available investments.  Why do I believe this?  

                                     Let me give you four core reasons:

•             Real Estate is finite.  Meaning, we cannot make any more land, so the supply is limited.
•             Demand is constant.  It fluctuates for sure due to the current economic conditions, but there is always demand.
•              Values for the most part always appreciate.  Like all things, they go up and down, but historically speaking land values ultimately only go in one direction.
•              Real Estate has utility.  You can use it unlike a stock or bond.

  So what do you really need to know to be a successful investor?  First you need a plan. Second, you need capital to support you investment.  Third, you need experts, and I would recommend a seasoned Realtor, a trusted lender and a qualified contractor.

 

The Plan – Your plan has to have both an entry strategy and an exit strategy.  Most failures occur due to not following the entry strategy, and not having an exit strategy. By the way, buy low and sell high is not a plan. 

  Any investment plan revolves around the capital available to invest.  You must anticipate all costs associated with the investment.  Down payment, insurance, taxes including income taxes on profits, repairs and maintenance, association dues, city and county permits, selling and closing costs. 

  

Each investment has to have a timeline.  House flippers typically do not account for delays to their timelines, and wind up making no return or even losing the investment entirely.  Your timeline has to be practical, and it must account for unexpected delays.  If there is no margin for error, there will be no profit in the end.

An exit strategy is the way you will realize your return.  The obvious answer is to sell for a profit, but a good strategy has a contingency plan such as rental income.  So during the investment evaluation process, the investment must be able to cash flow as an income producing rental property.

This article scratches at the basics of real estate investing which is a personal passion of mine.  I have been at it for over 20 years, and I still don’t have all the answers.  I do encourage those interested to jump in, and I enjoy assisting my clients in establishing their own person investment plans.  

So, if you have been considering becoming a real estate investor, let’s schedule a meeting. I won’t tell you it is easy.  I won’t promise that you will soon be a millionaire, but I will help make sure you have made the best investment decisions based on your plan and capital, and I will be with you every step of the way.

Bill Barkley, President and Broker of  River Valley Real Estate
19202 Huebner Rd, Suite 100 San Antonio, TX 78258
210-853-5327
www.rivervalleyre.com

 

Remodeling. Being your own Contractor!

 
    Taking on a home remodeling project is not without its stresses but can offer many rewards. Whether it’s a project to make the home more your own, adding a long desired additional space, or a forced remodel due to a repair issue or fixing it up to sell...there are certain things that you'll need to consider before diving in. It is a matter of what you are wanting to accomplish in the end?

    Before starting a remodel project, you need to consider if this is something that you can do and manage on your own? Or do you need to hire a contractor to plan, purchase and coordinate to get this done?
   When doing a project on your own you need to have contacts for electricians, plumbers and people who can do the work that you are wanting.  You also need to be able to purchase the materials for these workers, such as the flooring, tile, counters, fixtures, the grout for the tile, paint, etc.   If you feel you have the contacts and know where to purchase these items then perhaps you are ready to be your own contractor!  If you feel this would be too much for you then it may be wise to interview a few contractors and hire one to help in making your vision a reality.   *For both routes, you will want to make sure you have at least 2 bids on costs to determine that you are not overpaying. 

Kitchen Before

When I found my home I knew there were things that needed to be done to make me happy and that a remodel was in my future as a home buyer. As an agent I also wanted to keep it within reason, always keeping resale values in mind.
 The kitchen is where I started, the cabinets were really old, appliances outdated and I really believed that this would have to be a total redo.   Then I stepped back and considered what I could restore myself which would save me money in the long run.  The cabinets may have been old and a little dirty but they were real wood and nothing was broken! So with a little elbow grease and $40 in paint I was able to transform the cabinets which left only the counter and appliance update cost. 

            

Kitchen After Remodel

I chose a granite counter top that pulled all my colors together really giving my kitchen a traditional and warm look. *Often granite stores will sell remnants of granite at a much cheaper price...just ask! 

 As with many in San Antonio, TX foundation issues can come up.   If you have a slab and your foundation starts to slope, the only way to fix is to specifically place jacks (lifting equipment similar to a car jack) to level the home.   Many times the foundation repair company will have to open up your floors and drill into the slab inside to properly level your home.   This may be traumatic for you as additional damage is necessary to repair the issue but I see this as a way to do another remodel to the home.   In this case, the company had to drill into the hallway ripping up the tile in the process. 

   As you can see, the foundation repair was extensive.   The entire time I told myself these holes will be covered up and soon I will be able to enjoy new floors.   For a while I wondered should I replace what was originally there or do something different.  As it is me, I went for something different and give it a more upgraded feel.   The living room was already redone with wood flooring and only the hallway and family room were left as tile, due to the cost of ripping up the tile.   So I took the opportunity to expand the hardwood to include the hallway as the tile was now ripped out.  The result came out great. 

Hallway Floors Before

*When going through an issue like this, always remember to check with your insurance company.  Most of the time they will cover the full cost or give you a cash out if wanting to make changes that are more expensive. 

As the tile was ripped out by the foundation company that cost was saved which allowed the hardwood to be put in.   

Hallway Floors After

. 

    Remodeling can be a major project but the reward can be even greater.   As the market goes up and availability starts to become less buyers have to think outside the box in order to find the kind of home they're looking for.   As we all know area is the biggest aspect in all buyers’ minds, but the home you are wanting may not exist or be available. Which is why to remember that if the home is the right size and in the right area then think if you did some remodeling, will this home be perfect for you.

Travis Reed, Associate Broker for River Valley Real Estate

19202 Huebner  Road, Suite 100
San Antonio, TX 78258
210-853-5327

Dreaming of a Mystic Life?

Mystic Shores @ Canyon Lake

Featured by River Valley Real Estate

Mystic Shores is rich not only in its fertile river valley land, but with its heritage and ties to Texas history.  Remnants of earlier settlers can still be found today, from the old German school house, rock formations and Lipan Indian arrowheads discovered throughout Mystic Shores.  Anita Lindsey, daughter of the “711 Ranch” owners, the original name of Mystic Shores said, “that the land was meant to be lived on and loved”, and the current property owners and association are doing just that, making a place to fall in love with!

Historical information about Mystic Shores was found @ www.mysticshorespoa.com. Rieker, Paula (History of Mystic Shores at Canyon Lake) October 2015.

Just a quick drive up 281 North to Highway 306 you’ll find Mystic Shores in Spring Branch, TX. Charming towns like Gruene, Fredericksburg, Boerne and Luckenbach are all within a 45 minute proximity.

River Valley has eight gorgeous lots offering a variety to its buyers. Some have views of Canyon Lake and the 140 acre nature preserve, while others are interior lots closer to the exclusive and incredible amenities.  The larger lots are livestock approved adhering to what Mystic Shores was originally, a cattle ranch.

Living in Mystic Shores is hill country living at its best. The active community has exercise groups, gaming nights, community barbecues and much more. They can do these because of the countless amenities available to the owners:

Open air pavilion

2 swimming pool areas

140 acre nature preserve

Concrete walking paths

2 volleyball courts

Playground

2 tennis courts

RV and boat storage

As San Antonio continues to grow, more families will look for such communities like Mystic Shores. If you’re one of those in search of your piece of Texas history call us at River Valley Real Estate, 210-853-5327. Or visit our website @ 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