Where is it really hot in the San Antonio housing market?

I keep reading news about the San Antonio real estate market being really strong, and as a real estate broker that is good news. However, in a city with over 1.2 million residents, I wanted to know where the market is truly improving. In considering where to research first, I thought where better than in my neck of the woods. So, I went to work researching the 78258 zip code which incorporated the areas commonly known as Stone Oak.

Before I give out all of the exciting details, I first want to lay out the parameters of my research.  All data utilized came from the SABOR MLS system. This is an important factor because the research will exclude for sale by owner properties and new builder homes not listed in the MLS. Second, I only researched single family detached residences. Next, I considered all closed transactions from January 2010 through October 28, 2013. I also included the pending contracts and active option contracts as of October 28, 2013. In addition, I wanted to know the amount of current inventory available, so I ran the active single family residences in 78258 on October 29, 2013. All sales were considered on a price per square foot basis as this is the best unit of measurement when comparing single family residences. I placed emphasis on the mean or average sales price per square foot and cumulative days on the market as I consider the average a more honest representation of actual market trends.

The first comparison covers the total number of home sales per year, and chart is provided below to illustrate the findings.

As evidenced from the chart above, the number of homes sold per year was relatively the same from 2010 to 2011. However, a dramatic increase of over 22% is noted from year 2011 to 2012. I realize 2013 has not eclipsed 2012 yet, but we are only through October. I did not chart pending contracts and active option contracts as some may very well not close and fund. Currently, there are 56 pending contracts in escrow, and another 25 active option contracts in escrow.  Theses pending sales total 81 additional transactions which if close and fund will bring the 2013 total number of sales to 832 units, which surpasses 2012 by 3.6%. This is a modest increase, but there are two months remaining in the year for the total to continue to increase.

My next case study observes the sales price per square foot per unit within the 78258 zip code. Again, I look at sales price per square foot rather than total sales price to account for the variable of size per home.

This chart really needs no clever explanation. We are experiencing the highest average sale prices per square foot per home during the past four years, and I see no reason for this trend not to continue into 2014. I will explore that reasoning later in this blog.

Next, let’s look at marketing times. Everyone trying to sell the home would like to have an indication of how long it will take, so they can be prepared. We have to find a new home, meet with our lender, pack our house, set up and disconnect utilities. These things take time and planning, so it’s always comforting to be able to construct a time line. When considering marketing times, I always consider the cumulative days on the market. Cumulative days on the market take into account all days listed on the market regardless of the Real Estate Company, agent or number of times listed.

Again, there is no need for lengthy explanation here. In 2013, the total marketing times for homes within the 78258 zip code have reduced on average by over a full month.

So what conclusions did I draw from my research project? First, the total number of homes within the area studied are on the rise. Second, the sales price per square foot per home is increasing. Third, homes are selling faster than ever during the past four years. Independently, each of these three factors suggest the market is improving. However, when combined, all three factors together illustrate the market is improving at a torrid pace. With that being said, I would like to add one more aspect to consider. Currently, there are only 204 single family detached residences actively listed on the market within the 78258 zip code, and that equates to barely 25% of the closed and pending homes sales during 2013. Additionally, the average asking price per square foot of these current listings is $137.00. Now that is HOT!

For our expert opinion on your home call River Valley Real Estate Company at (210)853-5327 or e-mail Bill Barkley at bill@rvreco.com.  We would love the opportunity to present our marketing platform, and discuss your real estate needs.

Dia de los Muertos, Day of the Dead

Dia de los Muertos, the Day of the Dead, is a holiday celebrated on November 1-2. Although recognized throughout Latin America, Dia de los Muertos is most strongly associated with Mexico, as part of a culturally rich tradition.

Dia de los Muertos honors the dead with festivals and lively celebrations. Latin American customs combine indigenous Aztec ritual with Catholicism, brought to the region by Spanish conquistadores. Dia de los Muertos is celebrated on All Saints Day and All Souls Day, minor holidays in the Catholic calendar.

Dia de los Muertos - San Antonio 2012

Contrary to popular belief, Dia de los Muertos is not a somber holiday. Dia de los Muertos celebrates the lives of the deceased with food, drink, parties, and activities the dead enjoyed in life. Dia de los Muertos recognizes death as a natural part of the human experience, a continuum with birth, childhood, and growing up to become a contributing member of the community. On Dia de los Muertos, it is believed the dead are also a part of the community, awakened from their eternal sleep to share in the celebrations with their loved ones.

The most familiar symbol of Dia de los Muertos may be the calacas and calaveras (skeletons and skulls), which appear everywhere during the holiday: in parade masks, dolls, and even as candied sweets. Calacas and calaveras are almost always portrayed as enjoying life, often including beautiful attire giving the sense they are in celebration.

Dia de los Muertos Events in San Antonio!

Dia de los Muertos Free Celebration 

Saturday, Nov 2, 2013 - Sunday, Nov 3, 2013

Centro Cultural Aztlan will celebrate the 36th Annual Dia de los Muertos Exhibition with a two day celebration!

Getting Your Home Ready for Pictures and Showings

Use these as guidelines to getting your home ready for picture day and for showings.

Exterior

·         All vehicles should be out of driveway (for pictures).

·         Yard mowed and free from loose limbs and leaves.

·         Garden hoses and empty flower pots should be neatly put away.

·         Garage doors closed.

·         Pool cleaned if applicable.

Interior

·      Get rid of clutter. Counter tops should be free from papers, pictures, books and personal knick knacks.

·       All appliances should be clean and have no magnets or pictures on the outside.

·       No pets or indication of pet’s i.e. pet dishes and litter boxes.

·       Windows should be clean inside and out and open curtains to expose sunlight. This helps make rooms look bigger.

·      Bathrooms should have nothing on the counters. All shampoo bottles etc. should be  stored away out of sight.

·       Toys and magazines stored away and closet doors closed.

·       Beds should be made and laundry hidden or neatly stacked.

·       Be aware of having too much furniture and placement of furniture. Rooms will look bigger with less furnishings.

·       Watch out for bad smells. Last night’s dinner might still be lingering.

The above guidelines are to help you in getting ready for realtor pictures and showings. This really should be a first priority. Adding flowers, repainting rooms, professionally cleanings and tree trimmings are all examples of taking your preparations a step further. Rearrangement of furniture could really open up a space and help any room look bigger. Remember that this is your first best impression for a buyer. Taking those extra steps could be the difference between your home and the next!

Your American Dream

What’s your version of the American Dream? The general consensus is that the American Dream tells us that if we work hard we can achieve great things. It seems like such a simple principle. Work hard and reap the rewards. This fundamental belief drove nearly 14 million people to the United States between 2000 and 2010.1  This dream becomes a checklist of sorts for many. Go to college. Start a successful career. Start a family. Buy a home. Enjoy the life you created. They all require a level of work and dedication. However, these aren’t just goals. They’re milestones.  For most people, they can look back fondly at what they’ve accomplished while getting their piece of the pie. 

There are a handful of professions that allow you to witness someone’s dream come to fruition and even fewer that allow you to guide them through the process. Home ownership can’t simply be boiled down to a business transaction. It’s not only a major financial investment for your future, but it’s a point of pride and for many one of the most emotional experiences of their lifetime. It’s the start of putting your roots down and becoming a member of the community in a much deeper sense. The benefits extend beyond your personal portfolio and have a positive impact on your family, community and country. 

Studies have shown that children living in owned homes score higher on tests and have a higher rate of high school graduation. There’s also a decrease in teenage delinquencies and pregnancy. An increase in charitable activity including membership in voluntary organizations was also documented. Homeowners reported higher life satisfaction, higher self-esteem, happiness, and higher perceived control over their lives.2

Guiding someone through this process establishes a very personal relationship based on four simple principles:

• Trust and Confidence 
• Knowledge and Determination
• Professional Ethics and Moral Values
• Consideration and Understanding

 Jerre Ledbetter, a mentor of River Valley Real Estate’s founder, shared a piece of knowledge that has become part of our foundation. "Once your client always your client because the relationship is not over when the sale closes."