Lately, there has been a question that I have been hearing a lot from my buyers.
Is now a good time to buy a home in San Antonio?
My Answer: Maybe...
The answer to this question can only be answered by each individual buyer. Is it a good time for them to purchase a home in San Antonio? This depends on many factors such as:
- financial situation
- employment status
- credit score
- personal situation
- location of home
- condition of home
- how long are you planning to keep it
Let's face it, in most areas of San Antonio we are in a buyer's market. There are currently over 11,500 properties listed for sale in the San Antonio MLS. Are there some deals to be had? Absolutely! Are all of these homes a good deal? NO Are the sellers realistic and motivated? Some are... some aren't. Are foreclosures and short sales a good deal? Some are... some aren't. Do you think the market has hit bottom? I don't know, the only way we will know for sure is when we can see the bottom of the market from our rear view mirror...
These are the things I do Know.
- Interest Rates are at historic lows.
- There is a $8,000 tax credit available for first time buyers.
- New home builders are offering generous incentives to encourage buyers to purchase new homes.
- San Antonio home prices in most areas are relatively flat.
So let's get back to the question... Is it a good time for you to buy a home in San Antonio? It depends. The first step would be for you to consult with a real estate professional and a mortgage professional to determine what would be right for you and your family.