Current Buying Market in San Antonio

Whatcha Waiting For?
Last week I blogged about selling in a cooled down market.  This week I would like to blog about BUYING in a cooled down market.  "Go for it"......... now, Forrest Gump would say "That's all I have to say about that."

OK - so some of you may need a little more information as to why it is a good time to buy.  Let me explain.  Timing is important.  Let's think about the advantages of buying a home in San Antonio today.

1. Supply and demand makes for better prices.  Homes that have languished on the market for a while make for some anxious sellers. IF you can find one of these homes, they will be more willing to negotiate.  New homes builders in San Antonio are offering terrific incentives to bring down their inventory.  That means pre-owned homes have to compete.  Either way - you win!
2. Sellers will be more willing to negotiate. Look for highly motivated sellers.  If a seller needs to be in Toledo for a new job, and you are the first offer he/she has had in a few months - then perhaps he/she is willing to help with closing costs or lower the price or leave the stainless steel refrigerator you want. Builders may throw in seller financing, free upgrades, or a vacation in Tahiti just to reduce their inventory of speculative ‘spec' homes.
3. You are not rushed to buy.  In the summer of 2006 I drove buyers frantically all over San Antonio when a new listing came up on the MLS.  The good ones were gone - and fast!  Now they can take more time searching and comparing. There is not the pressure to rush into a decision.
4. There are more homes to choose from.  Homes are moving slower so there are more out there to look at.
5. Homes are in better shape. Since sellers know that competition is fierce, they are presenting their homes in a good condition before they hit the market.
6. Moving UP will definitely save you dollars.  If you are in a 200K home and you have to come down 4% to make it sell then you ‘lost' $8K.  However when you get ready to buy a 375K home and the sellers have to come down 4% to make it work, then  you ‘gain' 15K. The net is 7K. In other words, you get a proportionately larger discount on the bigger place they purchase.
7. Last but not least - interest rates are great!

Hope this helps and "That is all I have to say about that."