As 2008 draws to a close we can't help but think these are very interesting times. There's uncertainty, for sure, but when you really think about it, what in life is guaranteed? Sometimes it pays to be philosophical and realize that what goes up comes down and then goes up again...
Whether you're talking about the stock market, home prices or your mood, you've probably noticed that everything goes through changes and that's probably a good thing.
In the spirit of the Thanksgiving and holiday season, we want to say thank you to all of our clients, suppliers, and associates. Thank you, too, to all who visit our website with interest in investing in a new home. Thank you all for your business, your effort and great work, your friendship and your humor. We really appreciate it and look forward to serving you and working together in 2009 and beyond.
It's still a dynamic time to invest in a new home here in San Antonio. We found this article on mysa.com on November 26:
By Aïssatou Sidimé - Express-News
The Mortgage Bankers Association proclaimed San Antonio one of the top markets in the U.S. for home buyers, citing its high employment rate, population growth and better-than-average price appreciation as key factors.
San Antonio’s median home prices continued to perform better than all U.S. regions, dipping 1 percent in October from October last year, versus an 11.3 percent drop nationwide, according to data released Monday by the National Association of Realtors.
San Antonio is in the Southern region, which showed a 5.8 percent decline in median prices during the same period — the best regional performance in the nation.
“With 95 percent employment and people moving in, your glass is more than half full,” said David Kittle, chairman of the Mortgage Bankers Association, which tracks mortgages made by nonbank lenders. “You are the benchmark for the rest of the country in lending and building.”
Kittle also praised Bexar County’s low tax rate, saying it continues to attract businesses that hire new employees who are looking for homes.
Population growth in Texas is expected to remain above 2 percent next year compared with a negative projected growth rate for the United States.
A large chunk of the projected Texas population growth will be in the Denton-San Antonio-Houston triangle, according to Texas A&M University’s Real Estate Center.
The San Antonio housing market also has benefited from historically stable growth that avoided the large run-up in prices in 2005 and 2006, and the subsequent steep price declines some areas in the U.S. are experiencing now.
As a result, increases in Bexar County foreclosure listings are substantially lower than the growth in foreclosures nationwide. Foreclosure auction postings in the county are up 22.7 percent for the year, according to data provided by RexReport.com, which tracks foreclosure postings.
Nationwide, foreclosure activity is up 45 percent, according to RealtyTrac, which tracks foreclosure filings, sales and home repossessions.
“Our foreclosures are up slightly this year but not enough to worry like the rest of the U.S.,” said Michael Moore, outgoing president of the Greater San Antonio Builders Association.
While lenders nationwide are reporting a tightening of credit, San Antonio lender Van Stewart reported widespread availability for borrowers with credit scores at least 580 and a history of paying debts.
“We’re busy in our office,” said Stewart, chief operating officer at SWBC Mortgage in San Antonio.
Some lenders have fallen by the wayside, but, Stewart said, he’s been able to fill the void by placing more borrowers into mortgages insured by the Federal Housing Administration. About 35 percent of his new loans are FHA-insured so far this year versus 3 percent in 2007.
“The thing that has changed about underwriting is that we have gone back to underwriting that is not just about getting people into homes but about keeping them in houses for 10, 15 years,” he said.
Wednesday, November 26, 2008
Saturday, November 15, 2008
Hmmm...
Since the last time we posted, our nation has elected a new president and the issues facing him, and us, are much more complex.
We feel fortunate to be here in San Antonio where we are somewhat insulated from the problems in the other parts of the country and at the same time we recognize that we have our challenges, too. We are all in this together.
But fear is a funny thing -- in a way it feeds on itself and amplifies what is undesirable, often blinding us to what is good, what's working well, and to our basic security. We think, and feel deeply, that to remain optimistic and to remember every day to notice and give thanks for all that we have -- and there is so much that we have -- is helpful not only to ourselves, but to everyone else.
If you are considering buying or building a home, we hope you will remember to appreciate the opportunity you have at this time, to pursue your dream and to keep these things in mind:
- the economy will turn around
-home values in San Antonio are holding their own and rising in many cases
-at the first of the year, interest rates, too, are likely to rise -- investing now is a wise move.
-when you are looking at new home prices and "deals", keep in mind that many of the ones out there are possible because the seller has raised prices to pay for what appears to be a super deal, i.e. buyer incentives. Do your homework, and look at the square foot price of the home -- arrived at by dividing the price of the home by the number of square feet. Then, look closely at construction, amenities and upgrades and consider if the deal really is over the top.
If you have questions, please give us a call and we'll help you in any way we can to acquire a great home you will value and take pride in for years to come. In the meantime, keep noticing what's working well -- and if you get a chance, let us know what you find!
We feel fortunate to be here in San Antonio where we are somewhat insulated from the problems in the other parts of the country and at the same time we recognize that we have our challenges, too. We are all in this together.
But fear is a funny thing -- in a way it feeds on itself and amplifies what is undesirable, often blinding us to what is good, what's working well, and to our basic security. We think, and feel deeply, that to remain optimistic and to remember every day to notice and give thanks for all that we have -- and there is so much that we have -- is helpful not only to ourselves, but to everyone else.
If you are considering buying or building a home, we hope you will remember to appreciate the opportunity you have at this time, to pursue your dream and to keep these things in mind:
- the economy will turn around
-home values in San Antonio are holding their own and rising in many cases
-at the first of the year, interest rates, too, are likely to rise -- investing now is a wise move.
-when you are looking at new home prices and "deals", keep in mind that many of the ones out there are possible because the seller has raised prices to pay for what appears to be a super deal, i.e. buyer incentives. Do your homework, and look at the square foot price of the home -- arrived at by dividing the price of the home by the number of square feet. Then, look closely at construction, amenities and upgrades and consider if the deal really is over the top.
If you have questions, please give us a call and we'll help you in any way we can to acquire a great home you will value and take pride in for years to come. In the meantime, keep noticing what's working well -- and if you get a chance, let us know what you find!
Friday, September 12, 2008
And now, a word about the media and the housing market...
Every day the bombardment of news and information touches all of us and influences how we think, how we feel, and what we do on so many levels that it's impossible to name them all. Most of us probably underestimate the power of the media in shaping what goes down in the markets and even at the dinner table.
The most important thing to remember about the media, especially the news media, whether it's newspapers, cable news, network news, radio talk shows -- whatever -- the focus is always negative. Never do these outlets talk about the upside of an event that they report as "news".
And there are upsides to everything in life. For example, the current rearrangement of financial institutions on Wall Street, at the very least, can be seen as a culling, or pruning that will in the long run strengthen and realign financial practices. It takes a little research perhaps to find, but there are certainly many more positives that will come out of this time.
The power to choose...
We all have a choice to react to headlines and stories, or to stop and think about the context of the news and also look for the upside and advantages in any situation. Not only that, it is helpful to remember that every day, all over the world, in every moment, a lot of people are are doing something kind, loving, wonderful for someone else. The majority of people are doing an honest day's work, taking care of their businesses, their families, having fun, enjoying life. Every day in every moment a lot of people are thinking good thoughts. This is much more prevalent than the bleak, shocking stories that are streamed over and over again on news stations to snag viewers.
We did not, as a nation, reach the unprecedented level of prosperity that we now enjoy by focusing on bad, sensationalized news 24/7, caving to the negative emotions and fears it creates, living in fear of bleak tomorrows. No...we have traditionally kept our eyes focused on a bright future, have found the upside and capitalized on it, planned for it and continued to be cheerful (an adjective many in other parts of the world use to describe Americans) and led the way into ever more prosperity.
Of course our forefathers and mothers were not inundated by the print and electronic media as we are. But we definitely have a choice: to choose how (and how much) we will view the events of the day as they are presented to us. We may notice that the less "news" we absorb and unthinkingly accept as truth, the better we feel, the more energy we have. As we choose to feel good more of the time and see "news" for what it is, we may notice improvements in all areas of our lives as we take care of business responsibly and apply our energy to making our best dreams reality.
Professionals weigh in...
Recently journalists and real estate professionals from around the country weighed in on the effects of the media on the housing market. To what extent does reporting on market conditions influence buyers? The consensus was that the news definitely helps shape behavior. Here are excerpts from the comments, which are in the current issue of Ideas, a magazine published by the National Association of Home Builders (http://www.nahb.org/):
From Tim Kane, president of MBK Homes in Irvine, CA:
"I think that the most astute economist will tell you that public perception is a large component of how economics works. And the press is a large factor in the formulation of public opinion...We're in a chicken and egg situation. Yes, the market declined. Yes, the media reported it. The fact that the media reported it did indeed cause the market to decline further. At a certain point, the market is going to reach equilibrium and stabilize and then the new story will be that the market is turning around. And I think that the stories that the market is turning around and that real estate prices are increasing helped fuel the last real estate boom as much as the stories that the market was declining have fueled this .... (Note: real estate values in San Antonio continue to increase.)
From Dorothy Tayloe, broker, Daniel Homes/Ingram & Associates, Birmingham, AL:
The media's impact is enormous in regard to virtually everything. Obviously, the situation in home sales is no different. Real estate markets are local, and when the national media brings you the doom and gloom, nobody bothers to say here in good old Birmingham, Alabama, that our market is still very good...Journalists didn't create the bad market, that's for sure. But again, real estate markets are very local. And I think they should be covered as such.
From Lauren B. Cooper, Reporter, Birmingham Business Journal, Birmingham, ALA
Every real estate market is different. They're all local. But to hear the national news all lumped together as not very good news can be very discouraging to many people on a local level, so I think that contributed to the slow down.
From Andrew Star, Executive Managing Director, Cantor Real Estate, White Plains, NY
A lot of people are saying that the media has created this problem and if the media would just put out some positive stories, this would all go away..I don't hold those beliefs. We got where we are in the real estate market because we weren't paying attention to the fundamentals of the assets and the transactions themselves...That being said, when all you hear out there is the bad news, and we don't talk about some of the positives in the marketplace, then it does become somewhat self-fulfilling.
What do you think? We'd love to have your comments and know to what extent you are influenced by what you see and read in the news about housing and real estate now.
Feel free to comment here or email us at bridlebit@gmail.com
The most important thing to remember about the media, especially the news media, whether it's newspapers, cable news, network news, radio talk shows -- whatever -- the focus is always negative. Never do these outlets talk about the upside of an event that they report as "news".
And there are upsides to everything in life. For example, the current rearrangement of financial institutions on Wall Street, at the very least, can be seen as a culling, or pruning that will in the long run strengthen and realign financial practices. It takes a little research perhaps to find, but there are certainly many more positives that will come out of this time.
The power to choose...
We all have a choice to react to headlines and stories, or to stop and think about the context of the news and also look for the upside and advantages in any situation. Not only that, it is helpful to remember that every day, all over the world, in every moment, a lot of people are are doing something kind, loving, wonderful for someone else. The majority of people are doing an honest day's work, taking care of their businesses, their families, having fun, enjoying life. Every day in every moment a lot of people are thinking good thoughts. This is much more prevalent than the bleak, shocking stories that are streamed over and over again on news stations to snag viewers.
We did not, as a nation, reach the unprecedented level of prosperity that we now enjoy by focusing on bad, sensationalized news 24/7, caving to the negative emotions and fears it creates, living in fear of bleak tomorrows. No...we have traditionally kept our eyes focused on a bright future, have found the upside and capitalized on it, planned for it and continued to be cheerful (an adjective many in other parts of the world use to describe Americans) and led the way into ever more prosperity.
Of course our forefathers and mothers were not inundated by the print and electronic media as we are. But we definitely have a choice: to choose how (and how much) we will view the events of the day as they are presented to us. We may notice that the less "news" we absorb and unthinkingly accept as truth, the better we feel, the more energy we have. As we choose to feel good more of the time and see "news" for what it is, we may notice improvements in all areas of our lives as we take care of business responsibly and apply our energy to making our best dreams reality.
Professionals weigh in...
Recently journalists and real estate professionals from around the country weighed in on the effects of the media on the housing market. To what extent does reporting on market conditions influence buyers? The consensus was that the news definitely helps shape behavior. Here are excerpts from the comments, which are in the current issue of Ideas, a magazine published by the National Association of Home Builders (http://www.nahb.org/):
From Tim Kane, president of MBK Homes in Irvine, CA:
"I think that the most astute economist will tell you that public perception is a large component of how economics works. And the press is a large factor in the formulation of public opinion...We're in a chicken and egg situation. Yes, the market declined. Yes, the media reported it. The fact that the media reported it did indeed cause the market to decline further. At a certain point, the market is going to reach equilibrium and stabilize and then the new story will be that the market is turning around. And I think that the stories that the market is turning around and that real estate prices are increasing helped fuel the last real estate boom as much as the stories that the market was declining have fueled this .... (Note: real estate values in San Antonio continue to increase.)
From Dorothy Tayloe, broker, Daniel Homes/Ingram & Associates, Birmingham, AL:
The media's impact is enormous in regard to virtually everything. Obviously, the situation in home sales is no different. Real estate markets are local, and when the national media brings you the doom and gloom, nobody bothers to say here in good old Birmingham, Alabama, that our market is still very good...Journalists didn't create the bad market, that's for sure. But again, real estate markets are very local. And I think they should be covered as such.
From Lauren B. Cooper, Reporter, Birmingham Business Journal, Birmingham, ALA
Every real estate market is different. They're all local. But to hear the national news all lumped together as not very good news can be very discouraging to many people on a local level, so I think that contributed to the slow down.
From Andrew Star, Executive Managing Director, Cantor Real Estate, White Plains, NY
A lot of people are saying that the media has created this problem and if the media would just put out some positive stories, this would all go away..I don't hold those beliefs. We got where we are in the real estate market because we weren't paying attention to the fundamentals of the assets and the transactions themselves...That being said, when all you hear out there is the bad news, and we don't talk about some of the positives in the marketplace, then it does become somewhat self-fulfilling.
What do you think? We'd love to have your comments and know to what extent you are influenced by what you see and read in the news about housing and real estate now.
Feel free to comment here or email us at bridlebit@gmail.com
Wednesday, September 3, 2008
Come Join the Parade
Today is September 3 and we're in the middle of the 2008 Parade of Homes at Cibolo Canyons. The homes in this year's Parade are remarkable for lots of reasons -- for their beauty, fine design, size, location, the people who designed and built them, and all the people whose companies made the products that go into these fine houses.
Significantly, this is the first year that the Parade is green from the ground up -- green means that building practices and materials ensure minimal environmental impact. Green building has health benefits for home owners, too. For more information about green building, visit www.buildsanantoniogreen.org
And, come visit us at the Parade. Say hello to Fred, Russell, Jesse, Rose and Terry. We would love to meet you. You can find directions to the Parade, times and more information at www.sabuilders.org
Significantly, this is the first year that the Parade is green from the ground up -- green means that building practices and materials ensure minimal environmental impact. Green building has health benefits for home owners, too. For more information about green building, visit www.buildsanantoniogreen.org
And, come visit us at the Parade. Say hello to Fred, Russell, Jesse, Rose and Terry. We would love to meet you. You can find directions to the Parade, times and more information at www.sabuilders.org
Wednesday, June 25, 2008
An Invitation to Visit Us at Royal Ridge
This weekend we're having the grand opening of our garden homes at Royal Ridge. These are beautiful homes priced under $200,000 in a great neighborhood that is set to experience a renaissance within the next few years. Because of businesses like Rackspace, the international IT firm that's made San Antonio its home and is located in the area, and because of the expansion of our military bases, the future looks truly great for homeowners in northeast San Antonio.
Now is a fabulous time to invest in one of our homes in Royal Ridge. Please visit us this weekend, or any time, and see for yourself why these homes are so popular. We have three ready to move into and a few more lots that we'll finish this year.
Looking forward to seeing you soon!
Now is a fabulous time to invest in one of our homes in Royal Ridge. Please visit us this weekend, or any time, and see for yourself why these homes are so popular. We have three ready to move into and a few more lots that we'll finish this year.
Looking forward to seeing you soon!
Friday, June 6, 2008
Good Advice from a Financial Pro
Suze Orman recently posted this advice for home buyers and owners on Oprah.com :
“...get a grip on what really matters—the long-term performance of the housing market. Even when you figure in the past year's 10 percent dive (in many areas of the country but not in San Antonio), the national median price for existing homes has gained nearly 25 percent over the past five years, according to the National Association of Realtors. Over time, housing will revert to its historical norm: an average annual appreciation rate about 1 percent above the inflation rate.”
“...get a grip on what really matters—the long-term performance of the housing market. Even when you figure in the past year's 10 percent dive (in many areas of the country but not in San Antonio), the national median price for existing homes has gained nearly 25 percent over the past five years, according to the National Association of Realtors. Over time, housing will revert to its historical norm: an average annual appreciation rate about 1 percent above the inflation rate.”
Wednesday, May 14, 2008
Home Ownership -- Some Reasons Why
We're fortunate in San Antonio, and Texas in general for a lot of reasons not the least of which is that the mortgage problems affecting the rest of the country have not hit home.
In fact, Bexar County existing home values are increasing. Existing home values increased by about 4.4 percent since 2007; with new home construction factored in, total appraised residential values are up by about 5.5 percent. When you add commercial properties, the Bexar County Appraisal District calculates an overall increase in value of about 12 percent.
With San Antonio’s healthy job and population growth, these housing numbers tell us that we're on solid ground and, while nobody likes to pay more taxes, a rise in home is welcome news.
Here’s an article from the National Association of Builders (www.nahb.org)about the wisdom of investing in your own home.
Is Buying a Home in Today's Market a Good Idea?
As a long-term investment, buying a home is still one of the best investments for individual households.
“Why?” you may ask. After all, the headlines say the housing market is down and out, with defaults rising at an alarming rate, and mortgage markets so frozen that buyers can’t get a home loan at any price.
What buyers need to realize is that housing markets, like all markets, inevitably have their ups and downs. And homeownership has a track record that is virtually unmatched by any other purchase in terms of its real benefits.
Despite the turmoil in mortgage lending, if you have good credit, a job and steady income, you will find there is still plenty of mortgage credit to be had at good rates. For well-qualified buyers, rates are running at near historical lows.
Homeownership’s Real Value
Here are a few examples of why, dollar for dollar, homeownership is a solid stepping stone to a future of financial security and the single largest creator of wealth for many Americans.
Over the long-term real estate has consistently appreciated, even through periodic adjustments in local markets in response to economic conditions. On a national level, home appreciation has historically increased 5-6 percent annually, report economists at the National Association of Home Builders.
Five percent may not seem much at first, but here’s an example that will put it into perspective: Say you put 10 percent down on a $200,000 house, for an investment of $20,000. At a 5 percent annual appreciation rate, that $200,000 home would increase in value $10,000 during the first year. Earning $10,000 on an investment of $20,000 is an extraordinary 50 percent annual return.
In contrast, putting that $20,000 down payment into the stock market and getting a 5 percent gain would only yield a $1,000 profit.
Compared to Stocks
Looking at it another way, over a longer period of time, if someone put $10,000 into the stock market in 1996, the average annual S&P return would make that investment worth $21,500 today—an increase of $11,500. The median home price in 1996 was $140,000.
Today, that same home would have gained nearly $100,000 in value.
Don’t miss out on the benefits of homeownership.
In fact, Bexar County existing home values are increasing. Existing home values increased by about 4.4 percent since 2007; with new home construction factored in, total appraised residential values are up by about 5.5 percent. When you add commercial properties, the Bexar County Appraisal District calculates an overall increase in value of about 12 percent.
With San Antonio’s healthy job and population growth, these housing numbers tell us that we're on solid ground and, while nobody likes to pay more taxes, a rise in home is welcome news.
Here’s an article from the National Association of Builders (www.nahb.org)about the wisdom of investing in your own home.
Is Buying a Home in Today's Market a Good Idea?
As a long-term investment, buying a home is still one of the best investments for individual households.
“Why?” you may ask. After all, the headlines say the housing market is down and out, with defaults rising at an alarming rate, and mortgage markets so frozen that buyers can’t get a home loan at any price.
What buyers need to realize is that housing markets, like all markets, inevitably have their ups and downs. And homeownership has a track record that is virtually unmatched by any other purchase in terms of its real benefits.
Despite the turmoil in mortgage lending, if you have good credit, a job and steady income, you will find there is still plenty of mortgage credit to be had at good rates. For well-qualified buyers, rates are running at near historical lows.
Homeownership’s Real Value
Here are a few examples of why, dollar for dollar, homeownership is a solid stepping stone to a future of financial security and the single largest creator of wealth for many Americans.
Over the long-term real estate has consistently appreciated, even through periodic adjustments in local markets in response to economic conditions. On a national level, home appreciation has historically increased 5-6 percent annually, report economists at the National Association of Home Builders.
Five percent may not seem much at first, but here’s an example that will put it into perspective: Say you put 10 percent down on a $200,000 house, for an investment of $20,000. At a 5 percent annual appreciation rate, that $200,000 home would increase in value $10,000 during the first year. Earning $10,000 on an investment of $20,000 is an extraordinary 50 percent annual return.
In contrast, putting that $20,000 down payment into the stock market and getting a 5 percent gain would only yield a $1,000 profit.
Compared to Stocks
Looking at it another way, over a longer period of time, if someone put $10,000 into the stock market in 1996, the average annual S&P return would make that investment worth $21,500 today—an increase of $11,500. The median home price in 1996 was $140,000.
Today, that same home would have gained nearly $100,000 in value.
Don’t miss out on the benefits of homeownership.
Tuesday, May 13, 2008
Well, it's been an interesting year all over and we're so glad that you've found us.
We're excited about the future of our business and look forward to providing you and other home buyers with useful (and sometimes even entertaining) information about home buying and building, and home ownership, as well as news about what we're up to and what the industry is doing. In this fast changing, complex environment, we know it's important to be informed about what's happening, especially if you're looking for a home. We'll do our best to provide you with news you can use.
Please visit us again soon and feel free to contact us with any questions. We look forward to hearing from you.
We're excited about the future of our business and look forward to providing you and other home buyers with useful (and sometimes even entertaining) information about home buying and building, and home ownership, as well as news about what we're up to and what the industry is doing. In this fast changing, complex environment, we know it's important to be informed about what's happening, especially if you're looking for a home. We'll do our best to provide you with news you can use.
Please visit us again soon and feel free to contact us with any questions. We look forward to hearing from you.
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