User99858_2_t Frank BaileySan Antonio Real Estate
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San Antonio continues to be on the rise as far as housing and jobs go!  My broker sent out some interesting information that I felt I should share:  If this isn't a reason for you to take advantage of an ideal situation, then nothing will ever be.   Take advantage, this is an opportunity you shouldn't ignore.

 MARKET OVERVIEW
San Antonio housing market is on the leading edge of recovery, although new credit and
underwriting guidelines have disqualified many willing buyers, and others who are
otherwise qualified parked on the sidelines until the national media states this is a
national problem opposed to San Antonio, and Texas, which in general is still moving
forward.
According to the Metro study's (Jack Inselman) current phase of single-family
construction activity totaled 11,445 annual starts, and 14,527 annual closings (one of the
ten most active markets in the US.)
As of March 2008, San Antonio is ranked ninth in job growth with 18,900 jobs gained
(2.3%).
According to the latest figures released by the Office of Federal Housing Enterprise,
oversight (OFHEO) in 2007, San Antonio home appreciation rate of 8.3%
Job Growth
2005 - 33,100
2006 - 26,500
2007 - 18,800
2008 - 15,000 to 20,000 (Forecast)
New home inventory, first quarter 2008 - 6,528 units
Vacant developed lots
28,033 - 29.4 month supply
MLS
MLS - Active Listings - 12,876
SOLDS - March 2008 1,497
Avg. List Price $233,589 up 9%
Avg. Closed Price $199,218 up 6%
Median Closed Price $155,000 up 5%
Prudential Classic Realty
Research Department
May 22, 2008

 
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3 Comments on San Antonio market update

Hey Frank,

I was in San Antonio a couple weeks ago and loved it, hey are there any good positive cash flow opportunities?

Take care!

RJH

05/22/2008 10:27 PM by Empire Realty


Yes there are actually, depends on how much work your willing to put into it.  I currently have a client constantly looking for the older houses at the cheap prices, fixing them up and renting, especially around the SW area where the Toyota plant is.  There's also still some good land opps here to build on.  The outskirts of San Antonio are really growing!

05/22/2008 10:33 PM by Frank Bailey (Prudential Classic Realty)


Market update:  Homes are on the rise despite the recession.  Here in San Antonio, the community scene is great! Unemployment is at a low!  Builders are now offering some great incentives to homebuyers!  Now more than ever you can have that dream home with almost no money down!

05/27/2008 10:22 PM by Frank Bailey (Prudential Classic Realty)


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Real Estate Agent: Frank Bailey (Prudential Classic Realty)
Frank Bailey
San Antonio, TX
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Prudential Classic Realty

Office Phone: (210) 897-9074
Cell Phone: (210) 897-9074
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