Christian Realty San Antonio

      This might make some unhappy with me, however it is good advice in view of the world.  Renter should stop renting and buy a home.      With all the turmoil in the real estate market, some folks have been hurt.  Really hurt.  It is very sad.  It has happened before and will happen again in the future.  However, as the saying goes, behind every cloud is a silver lining.

      For renters, the silver lining means there are homes on the market at reduced prices which you may well want to consider buying.  You may not have this opportunity again in your lifetime.  It is sad this comes on the heels of so may foreclosures and folks being displaced.  It is an opportunity nonetheless.

      Check with your favorite banker or mortgage company and see IF you qualify for a loan.  If so, how much.  Then, get with a trusted, local real estate agent and see what is out there.  It may surprise you.

      Just having re-signed some tenants to another year contract, it makes me wonder why they pay rent rather than building equity in a home of there own?  The benefits of home ownership far outweigh the benefits of being a long-term tenant.

      Just my musings for today.  Some will agree and others not.  So it goes.  Checking to see if you qualify for a home loan is free.  So is my advice.

      Call me if you have any questions.  Always love to talk with folks about real estate. (210) 273-9082

      Well we are not jumping up and down in Texas about our real estate market nor are we wearing sack cloth.  We are steady or holding even in the residential sector.  A recent newspaper article even said there were “modest” gains.  Better news than what we have been seeing for about the past 18 months.      The San Antonio market has fared well, as has Texas, in comparison to many other areas of the country.  Our median prices dropped only 1 percent and bodes well for the South Texas area.  A breakdown of Texas median home prices is:

                                 Austin           $185,000

                                 Dallas           $155,000

                                 Houston        $152,000

                                 San Antonio   $147,000

                                 Ft Worth        $113,000

      Our median prices decreased between 1-3 percent which is relatively flat.  This is good news for both buyers and sellers.  Other areas of the country have seen more dramatic fluctuations in their median prices.

      The end of 2009 saw sales volume increase 16 percent which may be due to the $8,000 federal tax credit.  Tehre are no firm numbers to support this theory, however it was the only stimulus available to buyers during the period.

      The federal tax credit for first-time home buyers has been extended into the first half of 2010.  Some expect to see similar numbers at least through the first two quarters of the year.

      The information on the Texas real estate market was collected by the Texas Association of Realtors (TAR) using data from 47 Multiple Listing Services (MLS) across the state.

      Call me at (210) 273-9082 with any questions or comments.

       Buying or selling a home is somewhat complicated.  Doing a refinance  of a home is also a process which requires close attention to detail.  Complicating matters today is the homebuyer tax credit.    The homebuyer tax credit is not as simple or straightforward as you might think. Here are some nuances that will affect homebuyers who plan to use it.

      Happy New Year, one and all!  My hope is 2010 will be a great year for you and your family.

      My prediction for 2010 is the real estate market will level and see some improvement at the end of the year with conditions improving into 2011.

      We have had a challenging year and find ourselves looking to the New Year with hope and expectations.  We all take time to reflect on our accomplishments, our disappointments and our blessings.  We also must not forget to say thank you to everyone who means so much to us, yet we never really express our gratitude.

                    From our “family” to yours, Deborah, Tina, Sheila, Linda and I wish you a Merry Christmas and a very Happy New Year!

        Congress passed legislation to extend the $8,000 home buyer tax credit to May 1, 2010 for first-time buyers and add a $6,500 tax credit for repeat buyers if they’ve lived in their home for five of the past eight years. Home prices are capped at $800,000.

        The legislation in both houses was included in a bill to extend unemployment benefits and is expected to be signed by President Obama shortly. Under the bill, income limits are expanded to $125,000 for individuals and $225,000 for joint filers. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.        

        Households who have binding contracts in place by April 30 will be allowed an additional 60 days to complete their transaction. The deadline for members of the military serving out the U.S. for at least 90 days between Jan. 1, 2009, and May 1, 2010, has been extended one year.        

        Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a check. Taxpayers will be able to claim the credit on their 2009 income tax return for purchases made in 2010.

         Insurance giant USAA has announced they are opening their doors to millions of veterans as potential customers of their insurance and financial services.  The San Antonio-based company hopes to be the provider of choice for the millions of active duty, retired and former military personnel across the nation. The firm, formed in 1922 by 25 US Army officers in San Antonio, grouped together to take care of their own.  Previously, military personnel were seen as too risky for traditional insurance coverage.

        The changes in eligibility to join USAA opens the door for some 61 million active, retired and honorably discharged military personnel, along with their spouses, unremarried former spouses, adult children, widows and widowers.  It even includes those students in training for officer commissions.

        USAA is hoping this change in policy will add 100,000 new accounts per year for the short term.  Their staff of 22,000 will be able to handle the influx of new members, according to USAA president and CEO Joe Robles.

         USAA has always boasted it know first-hand the needs of the military and if ever in San Antonio, visitng their cmapus makes on feel like they are on a military installation.  SUAA has long be touted as one of the top employers in Texas and the US.

        As a disclaimer, my membership in USAA has been active since they opened the doors to senior NCOs (E-7 to E-9).  The services provided have been exceptional.  My son also is an employee of USAA and says they are a great company to work for.

        Please share this news with all of your clients and customers.  Savings will be realized by having all your insurance policies under on umbrella.

        As always, call me at (210) 273-9082 with any questions, without obligation.

        There are so many ways to have problems when you buy or sell a home, it befuddles me when folks go it alone.  However, that is another issue.  What we are discussing here is title insurance and why it is so very important for buyers to make sure they are covered on their purchase.

        Title insurance is, basically, insurance for the buyer of a home to be protected from any “blemishes” or clouds” on the title for the property.  This blemishes, clouds or issues are many and can cause a buyer from losing not only the property, their money too.

        Title insurance insures (protects) the buyer from any liens or other claims to the property not discovered when the title company did a title search prior to the sale.  Now while it is their job to check every possible place for any claims against a piece of real estate, they are either missed, overlooked or not available at the time of the title search.  How is that possible?

        Well a good example is a mechanic’s lien on a home.  The seller had some work done prior to sale and did not pay a company or individual for services rendered.  The company or individual places a mechanic’s lien on the property.  The lien remains and is “discovered” when the title company does the title search.  The owner then must clear the lien before the sale.  This is a protective action many small businesses must use to collect debts from some of their customers.  Otherwise they would go out of business.  Home owner associations and the like also use liens to collect debts from owners who refuse to pay their assessments.  The title is clouded or blemished and must be cleared prior to sale.

        Going back to title insurance, there are several types commonly issued: residential owner’s title policy, a mortgagee’s title insurance policy, a leasehold title insurance policy or a certificate of sale policy.  Each is issued for a specific purpose and for different entities involved in a sale or a particular type of sale.

        The main point to remember is for a home buyer, a title insurance policy is a contract where the buyer is protected from losses arising from defects in the title.  Here in Texas, we use a title policy that insure good and indefeasible title to a property.  This means if there is a claim, it can be defeated.

         My hope is this example of one of the very important parts of buying a home is of value to you and again underscores the importance of using a real estate professional when buying or selling a home.

        As always, call me at (210) 273-9082 with any questions, without obligation.

      Reports on high temperatures in San Antonio, Texas are not the only “hot” news to share.  San Antonio is also hot in the housing market and on the internet.

      We are fortunate to have a climate where “snow birds” who are retirees looking for a more moderate climate for the winter months, flock to enjoy the great outdoors.  We are also fortunate to have a great climate for new housing, resales of existing housing and relocations of businesses to our fair city due to the opportunities afforded.

      In a recent news report, San Antonio is ranked number one by both Business Week and the Brookings Institution with the strongest metropolitan economy in the entire nation.  This is not the only attention San Antonio has been drawing.

      In another recent news report, San Antonio is listed as the second most searched city on the Realtor.comweb site for the week of October 12th.  This is another indication of the attention San Antonio and most of Texas has been garnering following the national recession.  While no part of the country was immune, Texas and San Antonio in particular, were impacted far less than most.  Now why is this information important to real estate investors and those looking to relocate their business or family?

      The prices of real estate and housing in San Antonio are a great bargain, compared to other areas.  We have good employment opportunities and a friendly city government towards businesses.  Our Greater San Antonio Chamber of Commerce has been a leader in attracting new businesses into San Antonio, not the lease of which was the Toyota manufacturing plant.

      The stable economy of South Texas and San Antonio has kept the prices of homes, rentals and commercial leases in check.  While we are not booming, we are doing well and there is plenty of room for businesses to relocate.  Our educational institutions and location are also great draws for business and individuals alike.

      Come on down, either in person or via the internet and check us out.  We would love to have ya’ll visit us soon.

      As always, call me at (210) 273-9082 with any questions, without obligation.

       In a new report by the Brookings Institution, San Antonio is rated among the top US cities due to a strong economy.  San Antonio is considered to have a consistent, strong economy due to the lack of a housing bubble and the vibrant government, medical and military economic generators.

      The San Antonio metro area is seen as more stable than other parts of the country.  Housing prices rose less than other areas which resulted in less of a collapse in home prices.  This, along with a strong, stable job base keeps San Antonio is the top of the list. 

       This good news is not to say San Antonio is immune to ups and downs due to conditions outside of Texas.  The employment numbers have varied and some declines have been seen in the tourist market.  Overall, given the strong foundations of the basic employers and the lower than average home prices (compared to the national prices) San Antonio is expected to keep sustaining the trend of economic growth through job creation and the housing market.

               Strongest Metropolitan Areas  (listed alphabetically)

      Austin

      Baton Rouge, LA

      Columbia, SC

      Dallas-Fort Worth

      Des Moines, IA

      El Paso

      Harrisburg, PA

      Honolulu, HI

      Houston

      Jackson, MS

      Little Rock, AR

      McAllen

      Oklahoma City, OK

      Omaha, NE

      Pittsburgh, PA

      Rochester, NY

      San Antonio

      Tulsa, OK

      Virginia Beach, VA

      Washington, DC

SOURCE: Brookings Institution, pub SAEN, 09-15-09