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News on San Antionio Texas Real Estate, Market Conditions, News, and Statistics
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Western Hills, San Antonio - Announcing a price reduction on 7318 Clear Rock, a 2,454 sq. ft., 2 bath, 3 bdrm 2 story. Now  MLS® $229,500 - Price Reduction!. Property information
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Minutes to UTSA, La Cantera, & Valero
• 2,454 sq. ft., 3 Bedroom + Bonus Room, 2.5 Bath 2 story - MLS® $239,500 - Newly Listed Western Hills, San Antonio - Conveniently nestled in the hills just a stone's throw from UTSA, La Cantera, & Valero this immaculate custom home awaits you. Rich decorator colors combine with a spacious island kitchen, light and bright breakfast area, and large family room downstairs, all overlooking the backyard deck and lush landscaping. Upstairs is a huge master bedroom with a luxury bath made for pampering, a bonus room that can be used as a game/office/media room, and 2 more spacious bedrooms. Complete new A/C installed 12/09. Property information
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Moss Brook Estates , San Antonio - We invite everyone to visit our open house at 7319 Moss Brook Dr. on September 13 from 1:00 PM to 4:00 PM. Property information
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Custom Built Minutes To UTSA/La Cantera
• 2,596 sq. ft., 2 bath, 4 bdrm 2 story "English Tudor" -  MLS® $244,500 - First Time On Market Western Hills, San Antonio - This English Tudor custom has been immaculately cared for and maintained and blends a traditional style with a modern open kitchen, breakfast, and family room, lush mature landscaping front and back, and a superb location minutes from UTSA, La Cantera, Valero, & USAA. Warm decorator colors in a neutral tone highlight Brazilian cherry wood floors in the living, dining, and family rooms while crown moulding completes the floor to ceiling ambiance. Many additional features and upgrades are numerous throughout. Property information
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Gorgeous and Ready!
• 1,632 sq. ft., 2 bath, 3 bdrm single story "Beautiful Condo Garden Home" - MLS® $127,500 - Priced Below Competition Turtle Creek, San Antonio - This home is spotless, tastefully updated, ready for move in, a cut above the competition but priced below it. pride of ownership shows throughout and updates include granite counters in the kitchen and both baths, fresh decorator paint in neutral colors, new carpet in the bedrooms, updated lighting and plumbing fixtures, and custom drapes in the living and dining with a modern touch. Plenty of natural light combines with high ceilings in the living, dining, breakfast, and master bedroom to illuminate your space and show off the open floor plan. Bellissimo! Property information
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Turtle Creek, San Antonio - Announcing a price reduction on 3416 Turtle Village, a 1,632 sq. ft., 2 bath, 3 bdrm single story "Beautiful Condo Garden Home". Now MLS® $127,500 - Priced Below Competition. Property information
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According to Moody's Economy.com the San Antonio metro area's economy is one of only 23 leading metros in the U.S. (out of 381) that is showing a moderating recession, meaning the local economy is not contracting as severly as 6 months earlier. Seven other Texas metros also showed improvement. No metro areas anywhere in the U.S. have yet moved into the "in recovery" category that would show actual postive economic growth. More info can be found at: http://www.economy.com/dismal/ In a related story, San Antonio home prices have shown steady values through the real estate crisis and sport 5-year increases in home values of 33.24% and 10-year increases of 63.27%. Story from the The San Antonio Business Journal, Friday, July 24, 2009.
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Real estate sales in the San Antonio area real estate market are up for June, 2009 over May, 2009 by 17% showing improved market conditions. Also, according to San Antonio MLS statistics, homes in our market remain very affordable with 56% of sales under $200,000 with the predominate price range for listing and sales from $125K to $200K. Another price range with strong activity is from $250K to $300K although there is still a surplus of homes in that price range with an inventory of almost 10 months supply. While most price ranges under $225K have a less than 6 months supply of inventory (and all price raanges under $175K) and indicate a buyer's market, our San Antonio real estate market is still neighborhood and location specific as to how fast and for how much homes sell. The luxury home price ranges over $350K are a buyer's market with inventories jumping to an over 12 month supply in the lower range luxury market to as much as a 45 month supply in the million dollar home price range. Contact me at mark@markcaley.com for more San Antonio real estate market stats or if you have any questions.
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San Antonio has been ranked the strongest metropolitan area in the country for economic performance, according to a new report from the Brookings Institution. The Washington, D.C.-based think tank has begun analyzing the impact of the recession throughout America’s metropolitan areas. In the first of a series of quarterly MetroMonitor reports, Brookings ranked San Antonio, Oklahoma City, Austin, Houston and Dallas as the top five metro areas in the country in economic performance in the wake of the recession. Brookings ranked the top 100 metropolitan areas based on 6 key indicators: employment, unemployment rate, wages, gross metropolitan product, housing prices, and foreclosure rates. The report covers the the first quarter of 2009. Concentrations of industry activity have both helped and hurts some regional economies during the recession. For example, metropolitan areas in states with specializations in energy and government employment — such as Texas, New Mexico, Oklahoma, Arkansas and Louisiana — have largely been insulated by the recession. However, metropolitan areas in states like Michigan and Ohio that depend heavily on the automotive industry have been impacted by the downturn in the economy, the report shows. San Antonio is home to Randolph Air Force Base, Fort Sam Houston, Lackland Air Force Base and Brooks City-Base. The 2005 Base Realignment and Closure decision alone is providing a significant economic punch to the Alamo City’s economy through the consolidation of high-paying military health care jobs and more than $2 billion worth of new construction activity. A separate report released by The DiLuzio Group LLC outlining the impact of BRAC showed that Fort Sam Houston alone would experience a 11,500 increase of personnel. The Army post will also gain 7.9 million square feet of space. Construction activity due to BRAC alone should create 46,000 construction jobs during the course of the building programs, the DiLuzio report showed. From: The San Antonio Business Journal
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Updated Inside & Out
• 1,870 sq. ft., 2 bath, 3 bdrm 2 story "Master Down" - MLS® $119,900 - Price Reduced + Incentive Misty Oaks, San Antonio - BIG HOUSE-little price and $5000 Buyer Incentive + 5% to selling agent! See 1870 square feet of updated beauty priced below market. There's plenty of room for all with 2 large living areas (17 X 17 Living Room with high ceilings & ginormous 24 X 20 family Room), a private downstairs Master Suite (with high ceiling), and a fully updated kitchen with all new appliances, countertops, sink, and faucet. Other features include: fresh paint inside and out, new carpet and ceramic tile throughout, replaced electrical and plumbing fixtures, new ceiling fans with light kits in all living and bedroom areas, A/C replaced inside and out, new SAWS dual flush commodes, fresh landscaping, all on a large corner lot. Come see! Property information
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Bluffs At West Chase, San Antonio - The single story at 58 Rainy Ave. has been sold. Property information
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A new report from the National Association of Realtors shows that the median sales price for a home in the San Antonio metropolitan statistical area fell 1 percent between the first quarter of 2009 and the first quarter of 2008. Homebuyers paid a median price of $148,300 for a house in the metropolitan area. During the first quarter of 2008, area homebuyers paid a median price of $149,800, the NAR report shows. But even though median sales prices are down in the San Antonio market, a number of markets throughout the country experienced double-digit decreases in the median prices of homes. In Saginaw, Mich., the median sales price was down 53.7 percent between the first quarter of 2009 and the first quarter of 2008. In San Francisco and San Jose, Calif., the price of single-family homes fell 42.7 percent and 42.3 percent, respectively. Meanwhile in Texas, single-family homes in the Austin-Round Rock area fell 1.2 percent to a median price of $182,300 in the first quarter. Single-family homes in the Dallas-Fort Worth-Arlington area fell 4.7 percent to $135,700 in the first quarter. Single-family homes in the Houston-Baytown-Sugar Land area fell 6.7 percent to $138,500 in the first quarter. Out of 152 metropolitan statistical areas tracked by the NAR report, 134 reported lower median prices for existing single-family homes when comparing the first quarters of 2009 and 2008. Eighteen markets in the United States had price gains. The national median sales price on an existing single-family home was $169,000 in the latest quarter. This is 13.8 percent below the median sales price in the first quarter of 2008. First-time buyers accounted for half of all purchases during the first quarter, with many families taking advantage of deals on distressed or foreclosed properties, according to the Washington, D.C.-based organization. Lawrence Yun, chief economist for the National Association of Realtors, says this wave of first-time homebuyers is critical for a recovery in the housing market. “Housing affordability conditions are at record high levels and we expect a measurable increase in home sales during the second half of the year, which would help stabilize prices in most areas,” Yun says. Mortgage data from Freddie Mac shows that the average interest rate on a 30-year conventional fixed-rate mortgage fell to a record low 5.06 percent in the first quarter of 2009. During the first quarter of 2008, the average rate was 5.88 percent. First-time buyers have also been inquiring with their Realtors about the $8,000 tax credit made available to them through the American Recovery and Reinvestment Act. Homebuyers can still file an amended tax return for money they can use to apply toward the purchase of their first home. First quarter sales do not reflect the full impact from the first-time home buyer tax credit, according to the NAR report. (Article from the San Antonio Business Journal)
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San Antonio has scored a significant economic victory by attracting a major new employer to the city. Minneapolis-based Medtronic Inc. (NYSE: MDT) is expected to confirm on Monday that it has selected the Alamo City as the site for new back-office operations — which will include sales and marketing functions to support the company’s expanded diabetes division. San Antonio public officials say Texas Gov. Rick Perry will be in San Antonio on Monday afternoon to make an economic development announcement. One public official says that announcement is about Medtronic, which has selected a site for its new San Antonio operations at The Rim, a mixed-use development near Loop 1604 and Interstate 10. Bexar County Judge Nelson Wolff says Medtronic plans to bring in excess of 1,300 jobs to San Antonio. “I’ve been working on this for well over a year,” Wolff says. “Everyone pitched in to work on this.” Medtronic officials declined to comment. Sources familiar with the deal say the incentive package offered Medtronic includes $6 million in state money from the Texas Enterprise Fund. The company was founded in 1949 as a medical equipment repair shop. According to the Medtronic Web Site, the medical technology company now operates from more than 250 manufacturing facilities, sales offices, research centers, education centers, and administration facilities serving customers and patients in 120 countries. San Antonio had to compete with multiple cities to land Medtronic, including at least one other Texas city. “We had to beat Austin and then we had to beat Kansas City,” Wolff explains. “And we’ve built up a good relation with the company.” Public officials involved in the efforts to woo Medtronic say the company will pay good wages to the people it employees in San Antonio. Medtronic will move into the three-story Overlook at The Rim office building, which spans nearly 145,000 square feet and cost some $20 million to develop. The Class A office building on the city’s far Northwest Side was developed and is owned by Houston-based Transwestern. “This is extremely important for San Antonio, Wolff says. “It’s a perfect fit for the city.” (This article is attributed to: W. Scott Bailey, The San Antonio Business Journal)
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