Jerry Newman's San Antonio, TX Blog 210-789-4216

Is the Fannie Mae Home Path Program Good for Buyers?
Yes, when you consider that the Home Path Mortgage allows a borrower to purchase a Fannie Mae owned property with a low down payment, flexible mortgage terms, No lender-required appraisal, and No Mortgage Insurance, and even some expanded seller contributions to assist with closing costs are allowed too.

Buyers may even want to take advantage of Fannie Mae’s New Innovative, “First Look” Program. The “First Look” marketing period was created to promote home ownership and to contribute to neighborhood stabilization, which allows home buyers to bid and to purchase foreclosed properties before investors. In most states the “First Look” period is the first 15 days on the market.  Look for this First Look sign on the Fannie Mae Home Path website.

Buyers may choose 97% conventional financing, and the 3% down payment can be gifted or grant funds. Keep in mind there is No PMI, and No Appraisal, since the Sales price equals the value. Fannie Mae’s foreclosed properties are available as primary residences, second homes, and investment properties. Many condo project requirements are waived. These Home Path properties offer flexibility and opportunities to save some money. So why not take a look at some of them today?

For More Information on the Fannie Mae Home Path Program, contact Jerry Today, who will connect you with some Preferred Fannie Mae Home Path Lenders. For a list of available foreclosed properties in the San Antonio, TX area, see Bexar County Fannie Mae REO Homes For Sale. Your Local San Antonio Agent will be glad to assist you in placing your online Bid for any of these Fannie Mae Foreclosed Homes.

Market Report for Northwest San Antonio 78254
The Median sold price was $165,00 in March 2012, and has climbed to over $176,000 by May 2012., while the Median Listing price has remained around $165,000 for all homes in the Northwest San Antonio zip code 78254. This zip code includes subdivisions like Wildhorse, Bridgewood, Silver Oaks, Sagewood, Braun Station, Laurel Heights, and Stillwater Ranch,  just to name a few.

Understand the difference between "listing prices" (what sellers are asking for) and "sold prices" (what buyers are willing to pay), is very important to many sellers and buyers in today’s market.

By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.

           
Review the inventory and health of the market by looking at the number of sold and listed properties.

To understand if the market inventory is growing or shrinking, compare the number of sold properties to new listings. If inventory is growing, the market could be trending toward a buyer's market. If inventory is shrinking, then it could be a seller's market.

Gauge the health of the market by comparing the number of standard to distressed listings. If the number of distressed listings is greater, the market could be unhealthy and more likely a buyer's market.
Sold: Properties sold that month
New: Listings that are new on the market
Distressed: Listings that are short sales, bank owned, or up for auction.
Standard: Non-distressed listings
       

           
This chart shows home occupancy within an area.
A high percentage of ownership can indicate an area where people like to live and stable property prices. While a high percentage of rentals could indicate an area with shifting demographics, a younger community, or possibly a downtown area.
High vacancy rates can indicate that the market is unhealthy and that it could be tough to sell a home in this area.
       

Additional statistics for single family homes and condos in zip code 78254
*The Median List Price was $169,950
*The Median Days on Market was 57
*Number of Active Listings was 262
*Number of Distressed Listings(foreclosures and short sales) was 3.4%

That’s a great sign that zip code 78254 area is a healthy market since there is a decline in distressed properties, and sellers have began to see 96 to 100% from listing to sold price. Another great reason why Now is a Great Time to Buy before the market changes to a sellers market.

See Distressed Properties in Northwest San Antonio if you are looking for a bargain.

For a list of all the Active Homes in this area, See Homes For Sale in Northwest San Antonio.

Market Report for Greater San Antonio, TX April 2012

San Antonio Board of REALTORS® reports median single-family home price up 3.5% in Apr-12 over Mar-12, sales fall to 1,324.
For more details on Market Reports see San Antonio, TX Market.

Comparing the stats from April 2011 to April 2012 shows an increase from median sales price of $137,000 to $149,000. That’s quite an amazing increase in sales.  Now, is a Great Time to Buy! It’s even a Great Time to Sale. New Construction has picked up considerable too in San Antonio. In fact, San Antonio ranked tied for 15th in New Construction Sales according to Forbes Magazine.

Apr-12 Quick Facts:

• The median price of existing single-family homes increased to $149,900 up 3.5% vs Mar-12.
• Existing single-family home sales decreased -2.7% from Mar-12 for a Apr-12 total of 1,324 sold units.
• Condos decreased in price to $80,000 down -9.1% vs Mar-12.
• Existing condo sales increased 15.4% in Apr-12 over Mar-12 for a total of 45 sold units.

                              
                                                  Single Family Median Home Price
                                                           Apr-11 vs Apr-12

                                               The Number of Sold Properties by Month
                                                               Apr-11 vs Apr-12

(Soure was San Antonio Board of REALTORS)

Red Day 2012 in San Antonio, TX

All Keller Williams offices across the country participated in the Annual Red Day 2012 Project in their local communities. Our Local KW office in San Antonio, TX had three areas of responsibility today. We had a team of agents, and some supporting vendors at the following three locations in city, Boysville in Converse, TX, George Gervin Center, and ST PJ’s.

Our projects for today included some landscaping work, painting, and some small construction projects at these above mentioned locations. This is our annual project where we volunteer of time and efforts to support and give back to our local communities in San Antonio, TX, and throughout the country too.

The day started on a very positive note, but the rain came along and shorten all our outdoor projects at the Boysville in Converse, TX where I volunteered to work. If you remembered last year, it rained on our project too. But, we were able to accomplish most of the work before the downpour came with all the thunder and lighting. Check out the video to see KW agents in action for Red Day 2012.

The Physician’s Loan Program in San Antonio, TX
I recently read a post by Lenn Harley, What is the Physician’s Loan You Ask? Lenn gives us a very clear explanation and purpose of this loan. I did some research and discovered they are offered at a few banks in San Antonio, TX. The Physician’s Loan Programs recognizes the special financial needs of our professionals in the medical field.

The benefits of this Loan Program include:
* 100% Loans
* No Private Mortgage Insurance (PMI)
* Fixed or Adjustable Rates
* 15 or 30 year amortization
* Special consideration given on student loans
* Gift funds are allowed
* Available to medical doctors, medical residents, full time medical instructors, and more.....

Let me connect you with one of my preferred lenders who is experienced with Mortgage Bankers for this Special Loan for our Medical Professionals.  Call Today for more information about the Physician’s Loan Program.

(photo courtesy of Microsoft Publisher 2010)

Open House Today in The Crest at Braun Oaks

You don’t want to miss an opportunity to see this lovely 3 bedroom, 2 bath, bank owned foreclosure in the Crest at Braun Oaks today, Saturday, May 5, 2012 from 2 to 4 PM.
Come on by and join us today at 8910 Natalie Point, San Antonio, TX 78254, just off Bandera and Tezel Roads. This stunning, ready to move-in home is being offered at an amazing price of only $214,900.

This beautiful, stucco, single story, 3 bedroom, 2 bathhome features large split plan Master Bedroom with His and Her walk-in closets, and the Master Bath has separate His and Her vanities with a separate Garden Tub and Shower too. Enjoy the large single living area with a cozy brick fireplace.

This bank owned foreclosure also features a very open floor plan with a nice breakfast bar in the kitchen, and it has two separate eating areas, nice eat-in kitchen with smooth top cook stove and built-in microwave oven, lovely oak cabinets, and lots of counter space, and ceramic tile floors in all the wet areas.

This 3 bedroom, 2 bath home also sits on almost a quarter acre lot with a very nice backyard that has plenty of space to add that pool later to beat all this summer heat. All the schools are located within the highly acclaimed Northside Independent School District. The elementary school is Braun Station, the middle school is Stevenson, and the high school in Sandra Day O’Connor.

There is easy access to all the major highways, restaurants, shopping, and the Medical Center, USAA, UTSA, The Shops at La Cantera, and a brand New HEB Food store just off Bandera, and Loop 1604 West access road.

Contact Jerry Newman today at 210-789-4216 for more information on this lovely 3 bedroom, 2 bath, bank owned foreclosure, located in the Crest at Braun Oaks.

Great News for Texas Vets - Loans Limits Have Increased!
Just off the latest press release, the Texas Veterans Land Board has announced that the home loans and land loans have increased for all our Texas Veterans. Texas Veterans can now take advantage of the VLB’s low-interest rate loans to borrow as much as $417,000 to buy a home, and $100,000 to purchase land.

Under the leadership of Chairman, Jerry Patterson, the Texas Veteran Land Board voted unanimously on April 26, 2012, to increase the home and land loan limits for the latest expansion of benefits to our veterans. “Texas veterans have more than earned this increase VLB benefit,” Patterson said. “Increasing these loan limits gives Texas veterans additional purchasing power to buy the home of their dreams or to find a piece of Texas to call their own”.

Since taking office in 2003, Patterson has raised the amount of Texas veterans may borrow for a home from $150,000 to $417,000. Buying land throughout the VLB has gotten easier too. Under Patterson’s direction, the VLB has reduced the minimum acreage that could be bought with a VLB land loan from 5 acres to one acre, and making it easier for veterans to buy lots closer to urban areas.  A Texas veteran can simultaneously have a VLB land loan, a VLB home loan, and a VLB home improvement loan.

The Texas Veterans Land Board was created in 1946 to help veterans returning from World War II buy land for agricultural purposes. The program has changed over the years as land prices rose sharply and VLB land loan amounts have increased from the original $7,500.

“No other state can match what the VLB offers: low-cost home, land and home improvement loans; skilled nursing facilities and cemeteries - all exclusively for Texas veterans or their spouse,” Patterson said.  All these programs are self-funding, which is good news for Texas taxpayers.

For more information on these Texas Veterans Land Board Programs, Contact Jerry Today at 210-789-4216, or visit the VLB website at Texas Veterans Programs.

Market Report for Northwest San Antonio 78249
The Median sold price was $139,000 in January 2012, and has climbed to over $170,000 by April 2012., while the Median Listing price has remained around $163,000 for all homes in the Northwest San Antonio zip code 78249. This zip code includes subdivisions like Parkwood, Hunters Chase, Rivermist, and Oak Bluff, just to name a few.

Understanding the difference between "listing prices" (what sellers are asking for) and "sold prices" (what buyers are willing to pay) is very important to many sellers and buyers in today’s market.

By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.

           
Review the inventory and health of the market by looking at the number of sold and listed properties.

To understand if the market inventory is growing or shrinking, compare the number of sold properties to new listings. If inventory is growing, the market could be trending toward a buyer's market. If inventory is shrinking, then it could be a seller's market.

Gauge the health of the market by comparing the number of standard to distressed listings. If the number of distressed listings is greater, the market could be unhealthy and more likely a buyer's market.
Sold: Properties sold that month
New: Listings that are new on the market
Distressed: Listings that are short sales, bank owned, or up for auction.
Standard: Non-distressed listings

       

           
This chart shows home occupancy within an area.
A high percentage of ownership can indicate an area where people like to live and stable property prices. While a high percentage of rentals could indicate an area with shifting demographics, a younger community, or possibly a downtown area.
High vacancy rates can indicate that the market is unhealthy and that it could be tough to sell a home in this area.
       

Additional statistics for single family homes and condos in zip code 78249
*The Median List Price was $168,370
*The Median Days on Market was 58
*Number of Active Listings was 206
*Number of Distressed Listings(foreclosures and short sales) was 5.8%


That’s a great sign that zip code 78249 area is a healthy market, and sellers should began to see 96 to 100% from listing to sold price. Another great reason why Now is a Great Time to Buy before the market changes to a sellers market.

See Distressed Properties in San Antonio  if you are looking for a bargain.

For a list of all the Active Homes in this area, See Homes For Sale in Northwest San Antonio zip code 78249.

Greater San Antonio Market Report for March 2012
San Antonio Board of REALTORS® reports median single-family home price up 7.4% in Mar-12 over Feb-12, sales climb to 1,324.

Comparing the stats from March 2011 to March 2012, that’s quite an amazing increase in sales, and a good indication prices are beginning to rise. Now, is a Great Time to Buy! It's even a Great Time to Sale. New Construction has picked up considerable too in San Antonio. In fact, San Antonio ranked tied for 15th in New Construction Sales according to Forbes Magazine.

See Forbes Article on American Cities with Most New Construction.

Mar-12 Quick Facts:

• The median price of existing single-family homes increased to $145,000 up 7.4% vs Feb-12.
• Existing single-family home sales increased 28.3% from Feb-12 for a Mar-12 total of 1,324 sold units.
• Condos decreased in price to $88,000 down -9.3% vs Feb-12.
• Existing condo sales increased 5.7% in Mar-12 over Feb-12 for a total of 37 sold units.

See Additional Market Reports for Greater San Antonio Area.

Single Family Median Home Price
Mar-11 vs Mar-12

The Number of Sold Properties by Month
Mar-11 vs Mar-12