Happy Holidays!

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.

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!