Sellers Market...Nah...Buyers Market...Maybe...Renters Market ...Bingo!
Today's Real Estate Market is complicated to say the least. If you were to do a typical absorption rate in many subdivisions in and around San Antonio Texas, that absorption rate would clearly spell out a buyers market. A buyers market typically means 
that there is more inventory than there are buyers. This means that buyers have the pick of the litter so-to-speak. That doesn't typically mean you as a buyer can buy a ton of homes below market price given that there is so much inventory, although many buyers think so.
that there is more inventory than there are buyers. This means that buyers have the pick of the litter so-to-speak. That doesn't typically mean you as a buyer can buy a ton of homes below market price given that there is so much inventory, although many buyers think so. It is definitely NOT a sellers market. This is not to discourage anyone from selling; however, given the numbers, there is just too much to choose from and sellers, unless priced competitively, can expect to sit on the market a long time before receiving an offer. This is not every scenario however. There are still areas in San Antonio where homes sell quickly.
But even with the obviousness of the buyers market, many potential buyers aren't able to qualify to buy a home in today's Real Estate Market. There are plenty out there trying, but because of tighter lending requirements and Fannie and Freddie Mac changing with the wind and now VA getting into the mix, we have a whole slew of buyers who can't buy.
So, what are we left with? Buyers who can't buy and sellers who can't sell....so guess what folks?! I am guessing we are in a Renter's Market! Rentals are becoming the new norm in a Real Estate Market. With homeowners unable to sell their homes and unwilling or not needing to do a short sale, many are turning their homes into rentals to weather the storm until such a time when the San Antonio Real Estate Market picks up.
San Antonio Texas area rentals are literally flying off of the market. If you have a decent home with a decent rental price, you won't have to wait too long for your home to be snapped up.
Looking for a San Antonio Texas rental? Well, when you find one you like, you need to jump on it immediately or it will be gone. Here are some things you can gather so that you are prepared to put your application in immediately when you find the San Antonio Rental you want to get into.
2 months worth of bank statements
2 past LES (Leave and Earning Statements) if military.
ID cards (Driver's license, military ID, SSN card)
Orders if military
Pictures of pets if you have them. (Sometimes the property management office will require you to bring the pets in).
Gather past rental history, (names, addresses, etc)
Job information
This will get you started and won't your San Antonio Texas area Realtor® be surprised when you hand all of that over because you are prepared? Realtor® you may ask? Why do I need one of those? Well, quite honestly, there are still many Realtors® who may not work with those seeking rentals, (I am not one of those), but to find a great rental with the least amount of hassle, you should probably seek out the assistance of a Realtor®. Many of those sites that advertise rentals have old and outdated information and may not give you the specifics you need for your specific San Antonio Texas rental home, pet restrictions, for example. And just like I tell my buyers, driving around and calling the agent on the signs of all the homes you end up in front of, may just end up frustrating you. So my advice? Hire a Realtor®
So there you have it San Antonio Texas. It's definitely a Renters Market and if you are looking to rent, you have some great inventory out there to choose from.
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