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Office Location 1100 NW Loop 410, Suite 700
San Antonio, TX 78213
Phone: (210) 348-3717

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Archive for October, 2008

New Home Communities in Helotes

Helotes is located just 16 miles northwest of downtown San Antonio, yet feels worlds away. A rugged, natural terrain and the beautiful, Texas hill country surroundings make this picturesque town a fine place to call home.

Helotes, which is comprised of less than seven square miles, has 6,000 residents, quiet, tranquil neighborhoods and exceptional schools. Some of the home types that can be found in Helotes include ranch homes, private estates, bungalows and contemporary subdivisions.

Most homes in Helotes are on the market for an average of 60 to 90 days. Helotes has seen an increasing market, with the greatest activity among first-time home buyers. The average home price is $300,000, which is up 5% from last year. New home communities of single-family homes are springing up in Helotes, thanks to an increasing housing market and the close proximity to downtown San Antonio.

Bavarian Forest

Bavarian Forest is a heavily treed community, which features running trails, an amenity center with sports courts and a playground and a peaceful atmosphere with a Texas hill country feel.

Homes in this community range in price from $199,990 to $254,990 and include three to four bedrooms, two to three and a half bathrooms and 1,629 to 3,312 square feet of living space.

The Enclave at Laurel Canyon

All of the homes in The Enclave at Laurel Canyon community are energy star certified and include a community park and pool.

The homes in the Rio Series are priced from $141,990 to $167,490 and include three to four bedrooms, two to three and a half bathrooms and 1,629 to 3,312 square feet of living space.

The Hill Country Series homes are priced from $148,990 to $205,990 and include three to five bedrooms, two to three and a half bathrooms and 1,573 to 3,020 square feet of living space.

The homes in the Arbor Series are priced from $180,740 to $234,740 and include three to five bedrooms, two to three and a half bathrooms and 1,881 to 3,610 square feet of living space.

Sonoma Ranch

Sonoma Ranch, which is the epitome of San Antonio luxury real estate, consists of a gated community of estate homes which are each nestled on one to three acres. Rolling hills and a spectacular view are the hallmarks of this luxury community, which also includes a community center with a pool, a clubhouse and tennis and basketball courts.

Prices for the homes in Sonoma Ranch start from $490,000. The homes include three to five bedrooms, three and a half to four and a half bathrooms and 3,204 to 4,380 square feet of living space.

Tips for Buying Foreclosures in San Antonio

Foreclosures are seen in the San Antonio real estate market, and may continue for the immediate future. While there are deals to be had in the Bexar County foreclosure market, buyers must also be aware of the downside to buying homes in foreclosure.

Be Aware of Auctions

Unless you’re a seasoned real estate investor, it’s best to avoid auctions, for a number of reasons:

Most banks will not accept loan contingencies in an auction, so don’t expect to be able to negotiate any.

Bids are sealed, which means you won’t know what anyone else is bidding. You will need to do your research and determine such factors as the market value and the neighborhood, and then add to that any repairs that you’ll need to make.

Banks will also typically expect a large, earnest money deposit, so you’ll need to be prepared to immediately pay that.

Lastly, and surely most importantly, most properties in a foreclosure auction must be purchased “as is.” This means that the property will not be available for inspection, which means you could have a potential nightmare on your hands if the property requires substantial renovations and repairs.

When considering your bid at an auction, an important question to ask yourself is: Will the amount of money I have to put into this property to bring it to market standards offset the cheaper price I paid for the property?

Many homeowners in foreclosure will stop caring for the property and will stop making repairs. Still, others will destroy the property in retaliation. It is also not uncommon for homeowners to sell appliances and kitchen cabinets before vacating the property.

You will also be responsible for removing the occupants of the property, which typically involves an eviction process. Often times it is easier to bribe or pay the occupants to leave the property than to go through an eviction process.

With this said, buying a home in foreclosure is usually not recommended for first-time buyers.

Wait for the Property to Hit the Market

If a foreclosure is in your sights, you may want to avoid auctions all together and wait for the bank to put the property on the market. These properties are often referred to as “bank owned” or “real estate owned (REO).”

Again, do your research and determine the fair market value of the property beforehand. Then, if you feel that the home is overpriced, you can ask the bank for a short sale, which means that the bank will sell the property for less than the amount owed on the mortgage.

San Antonio’s Multi-Cultural Appeal

As the gateway to Southern Texas, San Antonio enjoys a beautiful blend of cultures which are entwined into the sights and sounds enjoyed by so many.

This flourishing area combines the sights and sounds of today’s American and Mexican cultures with the lure and captivation of its colorful past. Old-world, open markets and contemporary art galleries create a unique fusion for residents and visitors alike. Its rich history is apparent the moment you experience the architecture, the neighborhoods, the food, the culture and the traditions that make up San Antonio.

A gorgeous, sight-to-be-seen downtown area, a superb climate and cultural and historical sites and experiences are what make San Antonio the special destination that it is.

The River Walk

Top-notch restaurants, high-end boutiques and lively, outdoor entertainment can be found along the peaceful river of the River Walk, which is one of the city’s top attractions. While on the River Walk, experience La Villita, a National Historic District which boasts a colorful array of arts and craft shops and galleries, as well as The Alamo, the Shrine of Texas Liberty.

Another fun stop found along the River Walk is El Mercado, an authentic, market square which boasts crafts and treats of all kinds.

King William Historic District

This exceptional, restored neighborhood features many different architectural styles, including Greek Revival, Italinate and Victoria. Enjoy touring the Geunther House, which also includes a restaurant, a store and a museum and the Steves Homestead, which is now a museum of historical homes.

The nearby Southtown neighborhood provides an eclectic mix of shops, galleries and restaurants, as well as the Blue Arts Center, which features galleries and a brew pub.

World-Class Museums

Experience Latin American, Asian, folk and contemporary art at the San Antonio Museum of Art. The McNay Art Museum boasts internationally renowned exhibits, manuscripts and sculpture gardens.

Learn about Latin history in America at The Museo Alameda, and culture, history and science at the Witte Museum.

San Antonio’s Strong Industry and Business Presence

Diversity is the main factor fueling San Antonio’s thriving business development sector. New job opportunities are abundant, thanks to new and expanding businesses, strong business incentives, a low cost of living and affordable housing.

An educated, qualified workforce of more than 900,000 people, as well as over 120,000 students enrolled in area colleges and universities who plan to stay in San Antonio after graduation, keeps San Antonio’s business and industry running smoothly, as does San Antonio’s strong, transportation infrastructure.

Companies are attracted to San Antonio because of the low cost of doing business, which is reflected in San Antonio boasting some of the lowest utility rates in the nation. San Antonio’s affordable cost of living, ranging nearly 10 percent below the US average, also encourages business and individual relocation.

The diverse economy of San Antonio includes a rapidly growing biomedical and biotechnology sector and a diversified manufacturing sector. Some of the city’s largest, private employers include United Services Automobile Association and H.E.B Grocery Company. Toyota has also became a strong player in San Antonio’s economy with the introduction of its sixth North American assembly plant in 2006.

Companies with Headquarters in San Antonio

Some of the largest companies with headquarters in San Antonio include  H.E.B. Grocery Company, USAA, AT&T, Southwest Research Institute, Valero Energy, Cardell Kitchen & Bath Cabinetry and Frost National Bank.

Companies with Major Regional/Divisional Offices in San Antonio

Some of the largest companies with major regional or divisional offices in San Antonio include Wachovia, Citibank, West Teleservices, JP Morgan Chase, QVC Network, Washington Mutual and the Boeing Aerospace Support Center.

San Antonio’s Leading Manufacturers

San Antonio’s leading manufacturers include Cardell Kitchen & Bath Cabinetry, Toyota Motor Manufacturing, Kinetic  Concepts, Inc., Martin Marietta Materials SW and Clarke American.

San Antonio’s Military Bases

San Antonio also has four military bases, including Randolph AFB, Fort Sam Houston (Army), Brooks City-Base and Lackland AFB.

Understanding the Important Role Manufacturing Plays in San Antonio’s Economy and Housing Market

San Antonio’s thriving manufacturing industry has had a positive impact on San Antonio’s overall economy and housing market.

Forbes.com recently ranked San Antonio as the nation’s second top recession-proof city, and the strong manufacturing presence in the San Antonio area, which continues to grow thanks to heavy hitters such as Toyota Motor Manufacturing and Texas Machining Enterprises putting down roots here, is one of the reasons why.

An increase in the manufacturing industry in San Antonio means more jobs. And more jobs mean a stronger economy. And a stronger economy means a healthy housing market. It’s a simple formula that San Antonio has nailed. And as long as the manufacturing industry chooses San Antonio as their home, the residents of San Antonio will continue to reap the rewards in many different ways.

San Antonio Manufacturers Association

These factors influencing San Antonio’s overall, vibrant economy are recognized and supported by the San Antonio Manufacturers Association (SAMA). Started in 1914, this organization serves as an advocate for the San Antonio manufacturing community.

It serves to “proactively monitor manufacturing-related topics and participate in local government; promote manufacturing to enhance its perception in the community; provide educational opportunities to benefit its members and their workforce; and to create forums for business to business networking opportunities.”

SAMA promotes the interests of San Antonio’s manufacturing industry, and also educates the public on the importance of consuming more goods and wares that are manufactured, prepared or produced in San Antonio.

SAMA provides education for those in the industrial and business community, as well as the general public. It also provides information vital to the manufacturing industry, such as new rules, regulations and ordinances which affect them.

SAMA members are represented in various, strategic organizations which help to plan various events, fund raisers, trade shows and seminars throughout the year.

Some of the Reasons Why We Love San Antonio

With an average temperature of 70 degrees and 300 days of sunshine every year, it’s no wonder why people flock to San Antonio. It’s the abundant excitement, opportunities and growth, however, that make them settle down and stay awhile.

Just the Facts

San Antonio is the third fastest-growing city in the US, the fastest growing city in Texas and the seventh largest city in the US.

Forbes.com recently ranked San Antonio as the nation’s second top recession-proof city.

More than 26 million people visit San Antonio every year. It is one of the safest and most affordable cities in the US and was rated as one of the top 25 cities in the US for the arts, according to American Style magazine.

Travel Smart has ranked San Antonio as one of the most culturally fascinating cities in the US.

Relocate America recently ranked San Antonio as the second top place to live in 2008.

San Antonio was named as one of America’s favorite cities by Travel + Leisure magazine.

The Reasons for San Antonio’s Success

More than 1.2 million people call San Antonio home, and for good reason. Plenty of new job opportunities, a strong economy, low-crime rates, a strong business sector, a low cost of living and affordable housing have earned San Antonio the reputation for being the center of new opportunities and growth.

Its unique position of being centrally located between the east and west coasts, and close to other, major cities, has made San Antonio the midpoint of more than 50 percent of goods flowing between the US and Mexico. Many, non-stop flights to Mexico each day further facilitate the transport of goods between the US and Mexico.

Home prices in San Antonio fall typically 30 percent below the national median and are often less than half the cost of comparable homes in other major US cities.

Residents and visitors to San Antonio can enjoy some of the 68 miles of hiking and biking trails and some of the 11,000 acres of urban parks, including San Pedro Park.

Some of the state’s most visited destinations are found in San Antonio, including The Alamo, The River Walk, Sea World San Antonio, Six Flags Fiesta Texas, San Antonio Zoo and Fiesta San Antonio.

Some of San Antonio’s famous shopping venues include the El Mercado shopping district and the San Marcos Outlet Mall.

Tips for Getting Your San Antonio Home Sold

Let’s face it. It’s no longer a seller’s market. Gone (at least for the immediate future) are the days of homes priced greatly above their appraised value and homes flying off the market in a matter of days.

Homes in Leon Valley remain on the market for an average of 90 to 120 days. That’s three to four months of waiting, wondering and agonizing over whether your home will sell. To expedite this process, and to attract potential home buyers, there are few, basic things to take care of:

Price it Right

If you have time to spare and selling your home quickly is not a priority, then by all means, price it higher and be prepared to wait. However, if you’re like most people selling their home, you want a quick sell. Therefore, the bottom line is: price it right! With the help of a local real estate agent, determine the appraised value of the home, research other homes in Bexar County area that have sold in the last few months and price it aggressively. When determining a sale price for your home, remember that the difference between a competitively priced home and one that is overpriced is often the sold sign in the front yard.

Consider the Area in Which You’re Selling

Taking time to evaluate the local market, or hiring a well-qualified real estate agent to do it for you, will enable you to get a better feel of what to expect. For example, homes prices in Leon Valley are up 5% from last year and the greatest activity is among repeat buyers. Having this important information in your back pocket will allow you to better gauge your market and determine your marketing strategy and pricing strategy.

Spruce It Up for a Quick Sell

Clean the carpets, pain the walls, pull the weeds and hide the junk. It may seem obvious to take care of these matters, but important details are often overlooked by sellers at the expense of selling their home. Ask yourself the following questions: Is my home bright, clean and clear of clutter? Are my home’s features accentuated? Walk through your home and try to envision it from a buyer’s eye. Is it welcoming and easy to walk through? Taking the time to tend to the small details can often mean less time on the market and more money in your pocket.