The real estate market in San Antonio got off to a mixed start in January.
The good news is that existing home sales went up by 4.5% compared to this time last year. The bad news (for sellers, anyway) is that the median price for a home went down to $141,200 from $147,300.
This isn’t terribly surprising to me, though. Many sales close in January for tax reasons, or because after having properties on the market during the slowest months of the year, the sellers finally agreed to a lower price just to get the deal done.
I’ve been busier than I’ve ever been in previous years at this same time. According to James Gaines, research economist for Texas A&M’s Real Estate Center, the market is transitioning from strictly a buyer’s market to a balanced one, with six months of inventory. That’s more good news! For the first time since January of 2007, the number of homes on the market for sale in the San Antonio area is less than 10,000.
And I will be happy to help sell, oh, I guess, 500 of them.
Mid-century modern is all the rage in San Antonio, and this custom rancher is a perfect example of the genre. The tile in the kitchen and bathrooms is in pristine condition. Other parts of the home have been lovingly updated, while still preserving its style.
It's located in the friendly and charming city of Castle Hills in north-central San Antonio. Castle Hills is close to shopping at North Star Mall and several retail centers along Loop 410; it offers dining options running the gamut from popular Lucky Burger to the romantic Lodge restaurant; and it's an easy commute to the Medical Center, USAA, Fort Sam, and downtown.
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I wrote a post a couple of years ago about some San Antonio real estate agents overstepping their bounds, in my opinion, by requiring all home sellers to purchase a new survey, even if the existing survey is acceptable.
Something along the same lines happened just the other day. In talking with an agent whose listing in north-central San Antonio has been vacant for months, I suggested that my buyers might want to sign a temporary lease for a few days. They are crammed into an extended-stay motel, and would love to start moving their items out of storage and cleaning the house. In addition, it would allow the sellers to get a few days of market rent.
The agent instantly said, "I don't allow my clients to do a temporary lease."
I said, "You don't allow them to? Well, would you mind at least running it by your sellers to see what they think?"
"No, they won't do it."
And here I was assuming that her sellers were adults and could make their own decisions.
This brief conversation rang a bell. Last fall, I had some buyers in a similar situation, with an approved loan and a vacant house. The agent immediately said, "I don't like short-term leases," and proceeded to tell me why and that her client wouldn't do one.
After she finished, I asked if she would check with her client before making the call on her behalf. She grudgingly told me she would talk to her client, but would advise against it. I submitted the amendment and temporary lease, and not surprisingly, the seller did not agree to it.
I can understand if an agent feels that a temporary lease is risky; but I think it is their duty to explain both the risks and the benefits of any aspect of a transaction to their clients instead of deciding on their behalf.
Maybe it's just a case of sour grapes with me. What do you think?
Over the last couple of days, I suddenly received an onslaught of email marked Undeliverable. The attachment subjects were cryptic and profane, including exhortations to various people not to wash their hair with the shampoo from some advertisement. Needless to say, I promptly deleted them unread.
I am not a shampoo expert, so I would not have thought of emailing everyone in my address book on the subject. In fact, I wouldn't have emailed everyone in my address book anyway. I don't recognize the email addresses of the folks to whom I supposedly sent advice on hair products.
But the return address on the emails is mine. That is what is disturbing. Netizens all over the world, incensed at my meddling in their private ablution rituals, will now send bad karmic vibes my way. Besides, if I were going to spam people, I would stick to what I know, real estate, and spam them with listings of homes for sale in the San Antonio area.
Spoofing of emails is pretty common. Somebody, somewhere has had their email account hacked or has downloaded a virus that sends emails to everyone in their address book, which is forwarded to everyone in those other address books. The spam bot picks a return email address so the hapless victim doesn't realize their account or computer has been infected.
So in one respect, the hirsute spoofing messages are reassuring. At least I know it's not my system that is to blame.
I only hope the millions of people who have received the spoof emails will understand. To paraphrase Richard Nixon, I am not a spammer.
Last night a thunderstorm brought some much-needed rain to the San Antonio area. As I watched the drizzle this morning, I found myself hoping the cold front brought rain to East Texas on its way south, because that area is also suffering from the record drought and heat wave. Many sections of that Texas treasure, Caddo Lake, had turned to mud and silt over the last couple of years. Some of the bayous are no longer navigable.
Caddo Lake is the only natural lake in Texas, and is a beautiful, even mystical, place. It would be a tragedy if the drought were to threaten its existence.
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I specialize in residential properties in the north San Antonio metro and northeast to Schertz, Cibolo and New Braunfels; homes on the Guadalupe River; military relocations; and rehabbing older homes
I was born in Texas and grew up in San Antonio. I came back to my hometown in 2003 after living in Hawaii for a few years and then in England. I managed a rental property in Hawaii and invested in real estate in England, so my market niche became helping home buyers and sellers with rental properties and relocations. San Antonio changed a lot in the 14 years I was away, and continues to grow and diversify--geographically and culturally. Despite its healthy economy, the cost of living here is still low compared to similar-sized cities, and real estate is very affordable.
I enjoy working with international clients who are attracted to San Antonio and the Hill Country for their excellent investment possibilities and vacation properties, especially waterfront homes. I am an Advisor for the National Association of Residential Real Estate Investment Advisors (NARREIA). I also work with military transferrees, relocations, and foreign buyers who are delighted to find out how much real estate they can buy in affordable San Antonio. I'm a Certified Residential Specialist and an Accredited Buyers Representative, and have a Transnational Referral Certification.
I work mainly in the northwest, north-central, and northeast sections of San Antonio, Bexar County. I specialize in selling homes in established neighborhoods such as Alamo Heights, Terrell Hills, Olmos Park, Northwood and Northridge, Terrell Heights, Shavano Park, Hunters Creek, Churchill Estates, and Elm Creek, as well as in the Cibolo/Schertz area, where I live. I also help buyers and sellers in Wilson, Guadalupe, and Comal counties, since I love the Guadalupe River area around New Braunfels, Lake McQueeney, and Seguin.
I specialize in buying and selling single-family homes, many for residential investment as rental properties, and helping with relocations, including military, to the San Antonio area. I also help with finding homes for rehabbing and remodeling in some of San Antonio's beautiful older neighborhoods. I often work with buyers, since I love finding the "right" property, but also like the creativity and challenges of marketing homes for sale.
I especially enjoy welcoming people to San Antonio who are relocating here in the military or with a job transfer and need to find a home in a city they may not be familiar with. San Antonio has several military installations, including Fort Sam Houston Army Base, home of the world-renowned Brooke Army Medical Center; Lackland AFB, where most of the Air Force trainees go at one time or another and Wilford Hall VA hospital is located; Randolph AFB, with its pilot training; and the former Brooks AFB, now Brooks City Base and host to a Centers for Disease Control facility.
San Antonio's diversified economy also benefits from jobs in the oil and gas industry, especially thanks to the Eagle Ford Shale play. In addition, the South Texas Medical Center employs nearly 28,000 people, and the University of Texas Health Science Center contributes biotech research while training future healthcare professionals.
For my investor clients, I take the long-term approach to invest in single-family homes for break-even or positive cash flow and/or future appreciation. Rehabs and remodeling projects can be rewarding; especially those that could be rented after, or even during, rehabbing to take advantage of lower capital gains rates after one year's ownership. All of the properties I help my clients acquire must have features that would appeal to both good-quality tenants as well as future home buyers for resale purposes.
I look for good investment properties in the northeast and northwest parts of the San Antonio metropolitan area, near major employers and the Medical Center, which is where I grew up and where I still work with a lot of my investor clients. Neighborhoods close to Fort Sam Houston and Randolph AFB are others that attract tenants. The city is growing in practically every direction now, but I still have a fondness for the older neighborhoods with lots of trees. I provide relocation guides with neighborhood information to home buyers relocating here.
For sellers, I am a convert to staging to make a vacant home more appealing and I offer this service. Most buyers--and prospective tenants--are unable to see past the cosmetic issues of a house. I'll give my recommendations for preparing a home for sale or lease, and I have assembled a terrific team of people who do excellent work for a reasonable price. I want every home I list for sale or lease to look better than the competition.
From a couple who retired to San Antonio to be near their children and grandchildren:
Robin expertly guided us through relocation from Maryland to Texas. She found us an excellent local real estate agent in Maryland who helped us sell our home during one of the worst real estate markets in recorded history. Robin then rented her Corpus Christi beachfront condo to us while our household goods were in storage and transit. When we were ready to purchase, Robin found us the retirement home of our dreams with a beautiful inground pool in a nice, quiet neighborhood in north San Antonio.
She knows San Antonio as only a native Texan can, and tackles any problem that arises with her amazingly extensive network of experienced maintenance people. As we enjoy our retirement playing in the pool with our granddaughter; we say, "Thank you, Robin!!"
And an update from them:
It's been a year since we signed the papers to buy our home. How amazingly fast time goes by! We've been blessed with a happy life and loving family, but we're happier now than we've ever been. Thank you so much, our dearest Robin, for all you've done to make our retirement dreams come true. You truly are the best!!!
From the buyer, and then later the seller, of a duplex:
I wanted to share the fantastic experience I had working with Robin Rogers buying my first investment property in Texas. I found Robin's contact information from an article, gave her a call and within a day or so we were in action over phone and e-mail looking for my investment property. Robin is a fantastic communicator, always quickly answering my questions via e-mail. She connected me with extremely helpful folks (inspector, appraiser, property manager) who all worked closely with Robin and myself to make my long distance investment process very smooth.
From a first-time buyer who was excited about moving out of an apartment, although she will miss the pool (that'll be in her next home!):
Working with you was very easy. I met with two realtors before you but really liked the fact that you asked for what was most important to me in a house (meaning bathrooms, yard, kitchen...) and did not laugh that it was "the feel" when you walk in. You did not push me to try things outside of my comfort and gave subjective opinions when some of my "feelings" were a little out there (i.e. the bank owned house needing A LOT of work, with a great yard).
It truly was a pleasant experience and I would definitely recommend you and use your knowledge in the future.
From the sellers of a home I managed and subsequently listed for sale (a couple of my many clients whom I've never had the pleasure of meeting):
We have truly enjoyed working with you and we truly appreciate all of your hard work. I know you are moving away from the property management business but if any of your clients ever ask for a business reference, don't hesitate to give them my name.
From the sellers of a home and a golf-course lot, both near the Medical Center:
Where do we begin? We will start with a huge thank you for making the real estate business simplified! You made everything seamless! From our very first interaction as buyers a few years ago to our recent transaction as sellers, you have been not only a wealth of resourceful information, but also courteous, patient, and determined. With everyone's busy schedule these days, what a client wants and needs is someone who can break down the complicated real estate jargon, set reasonable expectations, and possess good follow-through. You absolutely shined in every one of those aspects!
From the buyers of two rental homes, planning to add more to their portfolio in 2010:
If there's a Robin Rogers fan club, sign us up! When we found Robin's name through an internet search for San Antonio Realtors, we had no idea what a terrific experience was in store for us. As out-of-towners, we depended on Robin's expertise to guide us through the San Antonio real estate market. Both times we worked with Robin to buy rental properties, Robin steered us to winner houses that quickly generated income for us. Her advice was unbiased and spot on, and her commitment to us and our expectations was unsurpassed. You would be hard pressed to find a more competent and caring Realtor in San Antonio.
From first-time home buyers from California who wanted to move closer to the kids' grandparents in Schertz:
I want to say thank you so much for all of the help you have given us. You were so wonderful throughout the process and found us great lenders as well. We couldn't have made it without you, so thank you so much!
From an attorney in the military from Chicago whose wife is from San Antonio:
What was I looking for in a Realtor? I'm concerned about a few things. They have to deal with a lot of investors. I think it's a completely different thing for a buyer's Realtor to deal with someone looking to buy a house they will live in compared to a house they will rent out. They have to respond to your calls, emails, questions and concerns in a timely manner. This goes without saying, but I was surprised that I have called or emailed at least three other active Realtors and did not receive calls back from them. Obviously a Realtor needs to be familiar with the area, neighborhoods, schools, crime statistics, where appreciation is most likely to occur, and basically which neighborhoods are improving and which are declining. My other requirement is that the Realtor doesn't agree with me all the time. I would like my ideas to be thoughtfully challenged. I require someone who ultimately carries out my will, but who helps to clarify my thoughts and plans by not blindly agreeing with me on everything.
I was lucky to find Robin Rogers. I Googled San Antonio investment Realtor and found her blog as well as some articles she had written for the National Association of Residential Real Estate Investment Advisors (NARREIA). Got that? It's a mouthful. I liked her right off the bat for a few reasons: she responded to me very quickly and we opened up with a very nice conversation about my investing goals and what she was able to provide; she understands the area; she spends time blogging and connecting with other bloggers which, I think, is like a form of continuing education; she owns investment properties herself; and she independently offers her advice even when she knows it is different than my thoughts.
Robin has been great about dealing with the seller, sending me listings that I may be interested in, and having a great network to recommend to me. She recommended a great inspector, which helped me to get a new roof from the seller, as well as a mortgage broker, accountant, and handyman. These were particularly helpful since I was new to the area.
If you're looking for a Realtor that focuses on investment properties, I would recommend looking for someone that has these traits. If you're in the San Antonio area, you should contact Robin and see if she would be a good fit for you. Check out her blog at activerain, and check out her Web site for more information.
From a captain in the US Air Force:
I have moved many times in my life, and without a doubt, Robin is the best realtor I have ever worked with. She helped me purchase one home, sell another, and found long-term tenants for a rental property on two separate occasions. Robin is a gifted communicator and you couldn’t ask for a better advocate whether buying or selling. She knows the business and has always earned her keep by looking out for my best interests. She’s the first person you should call for any real estate need in the San Antonio area!
From the wife of a US Army chaplain whose family PCSed to San Antonio from Virginia:
I would recommend you to anyone, and I feel like the lucky one, because you're still the one I contact when I need help...finding a service person or information I misplaced etc. :) I only wish they made all realtors like you. I wish we could take you with us each move we make!
From a first-time home buyer who relocated from California with her husband in the Air Force:
What sets Robin apart from her peers is her ability to anticipate your needs. Robin was always one step ahead of us as she directed my husband and I through the experience of buying our first home. As a military family living on the west coast Robin's efficiently and reliability were invaluable to us. When the time comes to sell our wonderful home there will be no other realtor I even consider calling!
P.S. We are STILL very much in love with our home!
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