Every year in January, my industry gathers at the Omni Hotel for the latest predictions on our local housing market.   This year was a sell out as we anxiously awaited the verdict from Economic Gurus, Bank Presidents, the Mayor and the Head of Economic Development for San Antonio.

Not a peep was heard when the meeting started.  "Looking Up, Moving Forward, On the Rise"

TEXAS IS LEADING THE WAY.  Corporate Profits are up and the layoffs could end in the next 3-6 months, according to the experts.

Housing starts have fallen off a cliff--it just won't happen in 2010.  There is, therefore, no gross oversupply of new homes.   This sector recovers quickly, however, and predicted to be back on it's feet in 2011.    What this means is that there will be less new homes, which will benefit the pre-owned market.  At the Federal level, money has been choked off for the Builders and Developers, and until that changes, there will be very little activity.

These economists also stated that the problem is that jobs come from small businesses, and right now, they are "scared off the dance floor"! There is money on the sidelines just waiting for a little confidence in our government.   People stopped buying, but, Americans won't put up with this for very long--  we love to shop, buy, spend!

Right now, people are saving, not spending.

Home Sales:   10 - 12% below the year before.   It's a mindset, however, because San Antonio had all three components for a good year.  They are 1) job growth   2) cheap money    3) home appreciation (we had just a small appreciation in most price points).   

Buy now before the Tax Credit ends!

In the final analysis, we are so lucky to have the unprecidented interest rates that we now enjoy.   Interest is at a historic low, but is predicted to go up in 2010. 

Buy A Home Today!  There will never be a better time!

Happy New Year!

It has often been a myth that you should pull your home off the market during the Christmas season.    This is is part due to the hectic pace we all put ourselves through.   Many Sellers have told me that they don't like the intrusion or inconvenience.  

Consider this:  Your home should gleam and twinkle.   What better time to show off than this special season.   Any Buyer going around with a Realtor on a cold December day has to be a serious Buyer.    Some corporate executives use their Christmas vacation to house hunt with their family.    This would be the perfect opportunity to stage your home and give it beautiful curb appeal.

One last tip I read about in Realty Times this month--   leave some holiday treats and hot chocolate for your guests...they will love it!

Information has surfaced from the research department of the National Association of Realtors on this next generation of Buyers.  Their peak household formation years are 25 - 44  and they will help keep demand strong for the next 10 years.    Their markets will be rentals and starter homes.    They will enter the housing market with lower incomes than people their age did 10 years ago!   The Echo Boomers are just one of the many speciality markets surfacing in our real estate business!

Reference:

Sophia Stuart, Marketing Associate, National Association of REALTORS®, "The Next Big Thing", Real Estate Business, Nov/Dec 2009

My 3 children are at the stage in their lives where they are beginning to think about acquiring real estate!   Joyous moment!

What advice do I give them?    "Don't fall in love with the home."  

One might ask why?   First of all, you won't live in this home all your life.    Second, it is an investment, just like purchasing stock.   Third, I am seeing far too many families today who purchased their "dream" home, upgraded far beyond what was wise, and now are stuck with an overpriced house that has lost it's value.  When the market declines, everyone loses.

Any house can become a HOME.  Take the things you love whether they are furniture, photos, special lamps or whatever, and most importantly take the love of the people you surround yourself with.   

Since this is a good time for Buyers to be in the market, chances are that you can make your money up front, not at the back end.   Who knows what market value will be next year or the next.   

Purchase Wisely!   Ask an Expert!   Use a Buyer's Agent and  make very sure the Agent representing you has YOUR best interest in mind!

I read an interesting article in this month's issue of TIERRA GRANDE, Journal of the Real Estate Center at Texas A&M University.    It states that the current economic downturn is in it's 23rd month, and "so far, no one can say for sure when it will end".  It also states that "it will take a reversal of most, if not all, of several interrelated economic forces to engineer a substantive recovery".

Business must make a profit.
Consumers have to spend.
Financial services must operate normally
Household Debt Service must revert to norm
Home prices must stabilize, then grow
Return of Investor Confidence must return

In summary, there are 3 legs to this stool:

Personal Consumption
Corporate Spending
Government Spending

Right now, 2 of the 3 legs are broken.

The article, written by James P. Gaines, a research economist with the Real Estate Center concludes that for now, the economy is the ultimate "reality show".   Government is carrying the other two legs in the form of bailouts, stimulus and unprecendented government spending.  

It also summarized the state of the economy as a puzzle for now with no predictions on when we might see an end to this recession, but all hoping to see a turn around in 2010!

As for my personal opinion, let the government back off and allow the system to correct itself.   Let's all work toward thard toward getting that 3-legged stool back on it's feet!!


Tierra Grande, October 2009,"Recession Rx", James P. Gaines 

Sometimes a listing just gets stale.   Even beautiful homes get stale, especially when we are sitting in a market where loans are tough and there is so much to choose from.   Pictures also grow stale on MLS when a listing has been on for a lengthy time.  

What I normally do in my office is take a good hard look at several things:   recent solds; comments from showings; how many other homes there are for sale in the neighborhood and how do they compare; and lastly, how does the home REALLY look to a stranger entering for the first time.

Re-staging a home is not a bad idea.   It puts a fresh new face on each room, it allows me to retake photos and present the home in a different way.   We recently did that for a client and the results were fabulous!  We rearranged sofas, dining room and exercise room.

Each room must have a purpose or the floorplan becomes confusing.  Don't grow stale in your home, and don't be afraid to move things around!

You’ve probably seen by now that all proposed constitutional amendments supported by the Texas Association of REALTORS® passed in yesterday’s election.

Propositions 2, 3, 5, 9, and 11 won by sizable margins despite an underhanded misinformation campaign and opposition by several newspaper editorial boards.

I want to thank all Texas REALTORS® for participating in our ongoing efforts to protect private property rights and advocate on behalf of what’s best for Texas property owners. Because of your actions, Texans will benefit from an improved appraisal system and stronger protections from unfair uses of eminent domain.

If you would like to learn more about the amendments and share this information with consumers, visit http://www.texasrealestate.com/.

Brooke Hunt
Chairman, Texas Association of REALTORS®

Tis the season...it's that time again.   Clocks fell back, the temperature is not 101 degrees, some of my flowers are blooming more in November than all year long.   What else needs to be checked?

Service your HVAC
Carbon Monoxide Detectors
Out with the summer annuals and in with the Petunias
Fall is for planting- cut back dead foilage
Caulk those windows and check for air leaks
Clean your gutters
and..
it's not a bad time to clean your carpets and add a fresh coat of paint for the Holidays!  Decorating is just around the corner!

Pride of Ownership, there's nothing like it!

How many times do we shop, dine, exchange an article of clothing, or order cable TV and have an experience that is pleasurable, easy and efficient?   Where does good service originate?   I am of the opinion that it comes from the people-- a genuine kindness that extends beyond what they have to do.   An extension of some sort that originates with kindness and respect for other humans.    In Real Estate, good service is at a premium.   Technology has entered the playing field bringing forth a multitude of new generation realtors whose best asset is that they really know how to manipulate a computer.   My opinion is that computer skills don't equate to experience or genuine concern for helping people.  It doesn't mean you will always have good service.

Enter a skilled Realtor, who wasn't born with the technology skills, but who has worked very hard to keep up with this revolution of technology that explodes with new information on a daily basis.    Therein lies the best of the best.   I have many great colleagues in real estate who, like me, know their skills, stay abreast of technology, and continue to give the kind of service that we know our clients deserve.    

Clients should demand good service - they should not have to short change themselves and settle.   

Good Realtors are worth their weight in GOLD!  They know the true meaning of giving good service, they love helping people and you will always be able to say that your real estate experience was pleasurable, easy and efficient!

At times it is so still that you can hear a pin drop.   Real Estate activity in San Antonio has been a little like that with the exception of the investors buying foreclosed properties and the First Time Homebuyers who are taking advantage of the Tax Credit.   Of late, however, I feel ripples of activity, ever so slightly, on the homefront.    I don't just mean from those in the position to get something back, but I can feel a trace of the traditional buyer peeping out from underneath the blanket again.    There has been a aura of fear captivating the traditional buyer this year--they are sitting on the sidelines waiting for some glimpse of hope to reassure them that it's okay to come out and play again!    We are all weary from recession and unacustomed to the stillness of activity from traditional buyers.    If we are such a bright star in the nation for job growth and we still feel the stillness--   my heart goes out to the other markets around the country who are REALLY feeling this recession.   How blessed we are to live in this great city of San Antonio!