The San Antonio Texas Real Estate Market Is Starting To SHIFT!
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- Опубліковано 5 жов 2024
- The San Antonio Texas Real Estate Market Is Starting To SHIFT!
Higher home prices, mortgage rates, and property taxes are changing the game for the real estate market in San Antonio! In this video I'll be discussing the changes taking place in the San Antonio housing market and the overall Texas real estate market as well.
The days of selling your home with several multiple offers, selling for 10's of thousands over list price, and appraisal waivers are OVER! San Antonio home buyers and those selling a home in San Antonio are coming to terms with a more balances market.
If you've been thinking about moving to San Antonio Texas, relocating to San Antonio Texas, buying a home in San Antonio Texas, selling a home in San Antonio Texas, or building a home in San Antonio Texas then this video is for you! Watch this before you start checking out homes for sale in San Antonio Texas real estate market, or building a home in San Antonio Texas real estate market, and you'll be ready for anything that happens in the San Antonio real estate market.
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What would 500 a month get me?
What would 500 get me? Lol
@@jakebustamante2681 🤣🤣🤣 The Streets downtown!!
Just my opinion but in terms of SA it is better to buy a house sooner rather than later. I moved here a little over a year ago and bought a house in Oct 21. I was super nervous right up till the time of closing but have become more and more confident in the SA housing market. I'll present my reasons so anyone can take them for what they are worth.
1) Big picture: Since the 70's interest rates rise to only half of the previous high. With the fed funds rate rise in July we will breach that trend line. Meaning a pause is likely September and at some point in 2023 or 2024 they will have to lower interest rates. The futures betting on the fed funds rate confirms that "smart" money thinks the same. Why? The debt burden is unsustainable for the government at any higher of an interest rate.
2) Bullwhip effect: Is a supply chain phenomenon that demonstrates small variability effects rippling to large oscillations in a system. The bullwhip effect can be applied to any system though. COVID has unleashed the bullwhip effect across all markets and there will be deals on houses in many markets because of it. New build listings and price cuts can be seen in many markets (Austin is a good example). SA has to some degree but the market is buoyed by...
3) Strong job and wage growth. Unprecedented illegal immigrants came across the border. Although this is a shame, it benefits SA because many will end up here and further keep the job market supported. Also data from Redfin and other agencies show strong migration data to SA (even from Austin).
4) SA has the largest disabled veteran population. 100% veterans are eligible for property tax exemption. Although this a small percentage of the overall SA population, they will be able to afford higher priced houses and veterans are historically entrepreneurial. One of the largest VA hospitals was built off the 151 and there is a planned TOD development nearby. I am extremely bullish on this area personally and am hoping to put a climbing gym there :)
5) SA is expanding the airport and recently held a conference where the city attempted to woo international airlines to have routes added. Not sure what came out of it, but assuming they were somewhat successful there is a high correlation between air travel and regional economic prosperity.
6) Along the airlines route. Boeing has significantly increased their MRO activities out of SA and new T7 trainer aircraft for the military will arrive in a few years. It is safe to say they will continue to consolidate and develop their capabilities to support these BDS/BGS services which has helped bolster their revenue margins since the 737 fiasco.
7) Speculation: Musk wants his boring company to put a tunnel from the airport to downtown. high probability of success. Given Teslas footprint in Austin. I would imagine the next step would be to connect Austin and SA with a tunnel and the area will become a metroplex similar to DFW.
8) Supply chains take time to restructure. SA is very well positioned for manufacturing and distribution. Just as Boeing will continue to develop their footprint so will other companies. Amazon recently decided to not expand in many of the areas they had planned. The SA location was merely delayed. Also remember those illegal immigrants...I am willing to bet many of them end up working in manufacturing.
I am not trying to persuade anybody. Just wanted to share my thoughts and the info I have. I wish I could provide articles to everything but that would take forever. Please do your own research. Good luck!!!
Do you see prices in SA coming down in the short term? I was thinking of buying there before, but didn't have the time to be down there long enough and shied away from these super high property taxes. Now I'm considering again. Would you have any recommendations on good neighborhoods for families with good public schools?
@@luperamos7307 prices may come down but I think prices will largely be bolstered by all the reasons I mentioned. My wife did a ton of research and she liked the north area. Specifically we are in the stone oak area with some of the best rated public schools. Safe area. Close and convenient access to 281 and 1604. There are actually quite a few good areas for public schools but your budget will decide which areas you have as options. Good luck!
@@alantheusthompson5594 I am looking into Stone Oak. It's a little out of my actual budget, but obviously you need to consider schools when you have kids. Do you see a lot of growth towards the West? Or is the north better? I am currently looking at areas somewhat close to Helotes. One of the places where they are building new homes is called Valley Ranch, which is close to a gov recreational area there. Do you think it would be a good area to move to? Or would the north still be the better choice?
@@luperamos7307 hmm west is growing and developing but I think north is better. The 281 is being developed and as that major road comes up there will be more growth out that way. The median HH salary is higher out that way. We settled in stone oak but I wanted to go a bit more up north near Timberwood but my wife wanted the convenience of stone oak. I don't think you can really go wrong with either 😉
@@alantheusthompson5594 Hey, thank you so much for looking out! I decided on Florida before, but didn't really like it there as much as I thought and obviously the market moved against me by now. I'll be looking north, but possibly have to settle west. Hope you have had a chance to check out Hill country by now. It's really part of the appeal of that entire region of Texas for me and why I probably consider it more than North Carolina now.
Look at the big picture. Besides new home builders, home owners would not sell their homes because they will be paying more interest rates which will keep the inventory low and keep the demand up
The problem now is younger people are dealing with student loans and other debts so purchasing homes in today's market is insane.
You're right, it's especially tough for younger folks with student loans, inflation, and wages not keeping pace. Lots of headwinds to deal with for sure, but I always tell folks to get in wherever they fit in.
i bought a few months after the 2020 lockdown with an interest rate at 2.75%. The home has appreciated nearly 30% in 2 years. im following through with just staying here for the long haul and if anything happens, to rent out.
Smart move! These kinds of stories really get me excited, good for you!
I bought in January 2022. I locked my rates in November 2021 at 2.25. I made about 240k on my last home and was able to build a 3100 SQFT home here and with a large down payment my mortgage is $1109. I don’t think I’ll move for a while till it simmers down
Glad to see you back! My kids and I made our move to SA from Georgia two weeks ago! I chose to rent our first year here because of the craziness in the housing market. I believe that over the next couple of years, the reset will be sure and I will have a more stable market from the financing and inventory side of things to work with. I so appreciate your informative and uplifting videos! Always watching........
It's good to be back, it's been a wild Summer so far! Congrats on your move and I hope you're enjoying SA. We'll be here for you when you're ready 😎
@@SanAntonioTexasLiving Thank you! I have your team saved in my favorites! :)
We appreciate you 🙌🏾
Good evening Ms Vena I am so happy for your family on your rental home..I'm a new family to San Antonio since Aug of 2021. May I connect you via email or so. If you're willing to share, would you share with me if you know of rental homes for myself. Perhaps the company or person you went through. Sincerely ♥️
Lady stay in GA , SA is crazy
The housing market is crazy, i moved to this city thinking it was cheap but nope.1 bedroom apartments are not less than $1200 for 600sqrt
Yep like 5 yrs ago it started going up my one
Bedroom apartment went from 700 to 920 I was screw it I’m getting a home
I'm from Georgia. Rent is Ridiculously high. I'm really planning on moving to San Antonio in 1-2 years. But the thing is that I'm going by myself. Also 1200 is way too much for me, unless I find a job paying at least 20hr. I just don't want to get myself into something I can't handle. It's time for me to Get out Here on my own. ...It's crazy how much people want for a Apartment now days. Especially for a Deposit. Makes me feel like I'm 💩 out of luck
Absolutely love these updates about the housing market there in San Antonio! Keep up the good work!
Thanks for tuning in, more to come😎
Thanks for your videos you’re great!!! I was born and raised in SA but currently live in Dallas. My fiancé and I are looking to move down to SA in June next year and are unsure of when we should be speaking with your team. There’s a lot of things I want to make sure we have in place to make it as smooth as possible.
Hey, thanks for the comment! We always recommend folks reach out if they're planning to move in a year or less, especially if they're considering new construction to account for build times. Next June will be here before you know it and with all of the changes happening right now, it's definitely worth it to start the conversation early. Feel free to shoot us a call anytime at 210-510-9444 or go ahead a schedule a zoom with a member of our team at this link: calendly.com/mymarketboss/zoomcall
Interest rates are making me nervous…. Waiting on a new build to finish and hopefully close!
You and me both, I'm still waiting for my home to be get finished too! Some builders and lenders are able to do long term rate locks though, let me know if we can help with a lender referral if you'd like to take a look at all your options.
We locked in on a rate… is it good but some bleeding 🩸 has stopped.
Good deal, glad you got locked in. With rates all over the place it's nice to get some certainty in your life🙌🏾
I notice some builders are buying point for clients and on top of other incentives.
Yup, they sure are! We've seen some builders advertising lower rates, high 4's for example, if you use their preferred lender, AND locking them long term. There have been a few price decreases out there, but mostly right after they just raised their prices And realized they couldn't get that so they brought it back down again. Definitely more opportunity out there for buyers and more deals to be had right now.
Thanks for saying cooling down instead of crashing or going to crash. Everyone is waiting for an imaginary 2008 crash that is not coming. It will cool down, but its just a temporary shock and awe pull back to the 50% increase in mortgage due to rate hikes. There is absolutely no 2008 style crash coming, because none of the dynamics are there for it, and the main driver for it - side bets on credit swaps were made illegal with the Dodd Frank act. 40%+- yearly rent increases will also drive people to do anything they can to own 4 walls and a door. People will just rent out their home or keep their home until this blows over, versus sell their hard earned equity at 40% losses. That simply won't happen at scale.
I concur good Sir😎‼️
Can you post these videos as audio only on audea? Would really appreciate just the audio! love your stuff btw, keep pushing out amazing content.
Hey, thanks for the love, I'll definitely check that out!
We bought our home here in San Antonio last November and plan on being here for sometime. We are just about ready to start making major updates. It was tough finding a home here though . We’d see a house we liked and literally within a few short hours it was off the market because they sellers took a high offer 😅 but we fell in love with the home we were actually able to buy.
Ready to start adding some equity to our home now .
Congrats on hanging in there and finding a home you love🙌🏾‼️
In which area would you recommend families to look? And will they just reassess the value of the home and then charge you even higher property tax? Bc the high property taxes make me shy away from Texas.
That's true, builder's are offering incentives now. For example, Rialto in Cantera Hills, 15k for upgrades and another 15k for using there lender.
Finally, a new community near Toyota. It's called VIDA, spec homes for 500k 😲
Builder's Highland Homes & Perry Homes. Never imagined Homes in the south would cost 500k for a 2,200Sf. Without a doubt, prices are🚀 in San Antonio.
By the way, we love your videos.
Yup, things are definitely changing!
Great video, love that you’re giving this sound information
Thanks for the love Fam🙌🏾
Great video and information! I'm in home staging in Waco (Waco Home Staging) and things are definitely changing... I'm so glad!
Thanks for watching🙂! I'm glad things are changing too, it feels good to be going back to normal 🙌🏾
Watching from Anguilla 😍
Hey, thanks for tuning in!
Step 1: Price cuts (see Zillow) ✅, Step 2: Incentives ✅ Step 3: Depreciation - price drop/crash. Lots of similarities still from 2007-2009. Vegas crashed by 60% back then. I don’t care what your time horizon is, you are better waiting for minimum 6 months and more likely 1-2yrs to buy. YOY S.A. And Austin listings up ~12-14% while sales down ~ 12-15%. And more of that trend to come. The Fed isn’t stopping and don’t be fooled by ‘low’ unemployment. I’be got people in S.A. trying desperately to dump their inventory on me as they got overextended. That light at the end of the tunnel is an oncoming train.
I guess we'll see, although I doubt we'll be seeing anything close to the crash you're describing. I fully expect this video to age well.
What you got benjamin? I'm looking to buy...cautiously 🤣
tell us more
Great video! What groups do you follow to get insight on what new construction homes are up for sale?
Thanks for the love! My team has great relationships with many of the builders and their sales staff here in SA, so we're able to keep our clients in the loop. Were you looking into new construction in the area?
🤣 I just Watched a video from 2 years ago. Any tips for A Guy like trying to move to San Antonio. It's just ME, MYSELF AND I. But 1200 a month for rent is Just out of my Tax Bracket 😂💯 maybe 800-1000. Of course I'm going to Stack up. But I really am planning on moving out There in a year or two.
Wish there was more inventory downtown and in Southtown but I guess no one wants to sell.
Inventory should definitely start ticking up soon. Of course, we're always here as a resource if you're thinking about buying a home. Many of our clients found homes they loved over the last couple of years in one of the lowest inventory markets ever. Feel free to reach out anytime when you're ready.
The same house I bought in March they selling for 70K more now...with 5 year ARMs from the builders mortgage lender.
I'm so glad we were able to get you lock in when you did! Prices are way up now and those ARMs make me nervous... I get hoping that rates will be better when you have to refi in 5yrs, but there's something to be said about having the certainty of a rate that won't ever change.
@San Antonio Texas Living right so in 5 years many peope wont be in a better position to afford a higher mortgage...if we in a recession massive layofgd havent even started yet
Exactly, there's just a lot of unknowns with that whole situation.
Priced 70k more or actually selling for 70k more?
@Joel Willis they selling... not as fast but my street will be full of new houses by the end of summer.
Simple terms. 💓‼️
Where would you recommend families to buy in San Antonio if you want good public schools and value?
I'd take a good look at the Far West Side of San Antonio. The Northside Independent School District is very highly rated and it's the most affordable area of town with both newer construction AND great schools. We've lived in the Far West side and been raising our family here since we moved to SA 8yrs ago and love it here! You can check out this playlist for more info on this side of town specifically 👇🏾
Living in FAR WEST San Antonio Texas: ua-cam.com/play/PLA2KGjwGAeJnDSzCMx5r_-cimWvzGX3gK.html
Were you considering a move to SA?
@@SanAntonioTexasLiving I looked at Helotes before, which is in the west. Would you say Northside or Westside is a better deal considering school and value? I was close to buying in 2020, but then didn't bc I was moving to Florida instead to rent. But I don't find Florida very family oriented, so now I'm back looking at SA. You think prices might get a little better again? I didn't move before bc I don't like the high property taxes that are the highest I saw anywhere
Here for it!!!
It's a whole new world out there right now😂
Great content as always!
Thank you Sir 😎
Great information 💯
Thanks for the comment, appreciate you 🙌🏾
Thanks for be honest not all realtors are like you
Thanks for the kind words, I definitely appreciate it! Thing is, if I just always tell the truth, then I never have to remember what I said😂‼️
@@SanAntonioTexasLiving 😆 true
Liking the video! I’m curious, do you ever come across investment properties? If so I’d love to connect. Born and raised in SA and I Invest locally.
Hey, thanks for the love! We have several investor clients across multiple price points with varying strategies. We'd be happy to connect as well. Shoot us a call anytime at 210-510-9444😎
@@SanAntonioTexasLiving Sounds good talk soon.
Waiting it out unfortunately.
Everyone's timing is different. Happy to be a resource in the meantime😎
Just scheduled a Zoom
We appreciate you🙌🏾, looking forward to connecting soon😎‼️
I told you so,this time next its bubble will have popped already
Be sure to watch this th end, I took some time to address the "bubble" conversation that's been floating around out there. I'm just now seeing it, at least not for TX.
Why don’t you speak even more faster?! Sounds terrible,- like you are in a hurry to the restroom, excuse my “french”😡😡😡