Wayne Johnson, GRI

There are lots of choices in the San Antonio Condo Market.

In some parts of the country, particularly in many of the more densely populated cities, condominiums are prized for their functionality, price, and location, as compared to single family homes. One can purchase a condo of varying sizes near urban centers or a workplace and significantly reduce, if not eliminate, the need to own a car. It can be liberating to walk, bike, or take a good public transit system as you make your way around the city. Because condos come in varying sizes, a buyer can choose a small unit with few amenities, or a large unit with outstanding amenities and appointments, depending on their needs and willingness to buy.

During this past year, I have represented a few condo sellers. In analyzing the market, my focus had been on just a narrow section of the condo market near my sellers' units. Over the past few days, I began looking at the wider condo market in San Antonio.

I have data on the condo market, as reported through the MLS in San Antonio from July 2007 through September 2007.

The number of units available, as shown by MLS, remains fairly constant at around 600 units available per month. The total market is somewhat larger because not all units are reflected in the MLS data. New developments, condo conversion operations, and builders may use private sales channels which may not be reflected in MLS information.

Now let's take a look at actual condo sales numbers in San Antonio.

Sales of condo units in San Antonio are quite modest. As previously mentioned, all sales are not reported through MLS. Over the past few years, several downtown and near downtown condominium developments have been constructed. Units have been sold, and owners have taken possession. However, recent changes in financing, both for developers and perspective buyers, is crippling the continued development of new condo ventures.

Based just on the MLS data, San Antonio has far more condo units available than the market is willing to absorb at this time. Sellers must be realistic in pricing because buyers have many options, and the supply dwarfs the demand.

Here is recent past and current inventory information:

Based on current sales rates, we have enough condo units available via MLS to last through most of 2010. This is much better than January 2009 when we had a two and a half year supply of units.

In the coming days, I will provide additional information on condos in blog posts. For now I'll just mention that the Department of Housing and Urban Development provides some basic information on condos at their website. If you are looking to buy a unit, you need a good team to include a Realtor to represent your interests, and a loan officer to help you find the best loan vehicle for your financial situation. If you are selling, you need a team to include a Realtor to help you with determining market conditions for pricing, and marketing the unit.

If you would like more information on condo units in San Antonio, please call or e-mail me.

This report provides the Days on Market Statistics for San Antonio, TX for Jan-Aug 2009.

One of the questions often asked by buyers of their agents is, "How long has this house been on the market?" This is a fairly simple bit of data to obtain. However, this one data point should be used in conjunction with other factors to give a more complete picture regarding the property being considered.

The amount of time a house remains on the market is based on almost exclusively on Motivation ⁽²⁾ or Motivation squared. Stated another way, the motivation of the seller times the motivation of the buyer. If the seller and the buyer are motivated to getting a deal done, it can happen quickly. However, if only one of the parties is motivated, it will take longer, or may not happen at all.

It will come as no surprise to most that Price is one of the biggest motivators in real estate transactions. The motivations of the buyer and seller are usually at odds initially. The seller wants as much as can be obtained from the transaction and the buyer wants to pay only as much as it will take to get the property.

The market statistics for San Antonio show the results for the Days on Market, but they do not provide information as to why certain homes sell quickly, and other remain on the market for extended periods of time. If you have an interest in a home that has been on the market for some time, ask your realtor to give you their opinion as to why the house has not sold.

Since I am asked frequently about Days on Market for homes in the San Antonio area, I took a look at our area results for 2009. I usually do this on a neighbrhood or subdivision basis. The following charts contain results for the area as reported by the San Antonio Board of Realtors(SABOR) for 2009.

Here are the 2009 Days on Market results:

During the first quarter of 2009, about 35% of the houses on the market were sold within the first sixty days after listing. That perentage is depicted in the blue and red sections of the chart.

Another 35% took over 120 days. In some cases, many of these were sold well over 120 days after being on the market.

Average Days on Market is not instructive as an indicator of problems with a house. If a seller is committed to a price, and has no external pressure to sell, they may be content to leave a house on the market for a longer period than average.

Something really changed in the second quarter. The percentage of houses sold during the first sixty days on market increased to about 44%. I attribute part of this to buyers and their agents recognition of good buying opportunities in foreclosures, short sales, and perhaps better pricing decisions by sellers.

Houses on the market over 120 days accounted for about 30% of the total sales.

July and August saw a continuation of over 40% of the houses being sold being under contract within the first sixty days of listing. It is interesting to note that about 26% of the available houses were on the market over 120 days before reaching contract phase.

Remember, the Days on Market is more an indicator of market activity than it is of the value or attractiveness of any house on the market. Some homes sell quickly, and some take a long time to get sold. The saleability of a home is based on several factors. These factors can include:

• Price
• Location
• Condition of the home
• School District
• Tax Rates
• Proximity to ameneties

I will update the San Antonio Days on Market Report as the monthly results become available.

The statistics are deemed to be reliable, but should be verified.

The Vineyard is one of San Antonio's great North Central communities.

The Province is west of Huebner Road, situated between The Enclave and Tuscany Hills.It has only fifty six (56) home sites. It has one point of entry from Huebner Road.

All homes in this community were custom designed and built. This subdivision has a fairly low turnover rate. Only five homes sold in The Province during the past twelve months.

Most homes in The Province are over 3,000 square feet and are offered in the $400K-$500K+ price range. If you would like more information about The Province call or e-mail me.

Links to other subdivisions in The Vineyard

The Vineyard

Napa Forest and Sienna Woods

The Enclave

What can you do if you are being tailed?

Unless you carry large sums of cash, jewels, or contraband, someone following you to do you harm, or take your possessions is not something most of us spend a lot of time thinking about. But it happens everyday. So it pays to keep your radar up and working.

Being followed, or tailed, especially at night, is one of the most challenging personal safety issues anyone can encounter. I do not claim to be an expert in this area, but I've got street smarts, and common sense.

So what can you do if you think you are being tailed:

1. Keep your doors locked while your vehicle is parked and while driving.
2. Try to keep avoid having less that 1/4 tank of gas.
3. Stay aware of your surroundings. You do not want to be surprised and only figure out you are being followed when you are at your house or apartment. It may be too late then.
4. If you notice another vehicle mirroring your lane changes and turns, do not drive home or to your place of business. Try to drive to a fire station, law enforcement substation, hospital emergency room, or a business with lots of foot traffic.
5. If you believe you are in danger, try to call 911 and make a report while you are driving. The more accurate your report regarding your location, your route, and descriptions of your vehicle and the pursuing vehicle, the better chance law enforcement has for getting to you quickly.
6. Try to remember the type and color of vehicle, license plate number, description of the driver or passengers if they get close enough.
7. Don't be afraid to use your horn, hazard lights, windshield wipers, or hand signals to alert other drivers that you have a problem. They may not be able to provide immediate help but, the more attention you can draw to yourself, the less likely most criminals will want to remain in pursuit of you.
8. Until you can get to a place with people that you are confident can provide help, keep on the move on well-traveled roads.

Stay alert and don't get caught unaware. Not everyone is out to cause you harm. Being tailed or followed is creepy, and can be dangerous. Stay alert and don't lead them to your residence,

Many people work long hours on irregular schedules in some cases. When we are tired, sometimes our guard is dropped. Stay alert and avoid leading cars that may be following you directly to your door.

The Vineyard is one of San Antonio's great North Central communities.

There are six (6) subdivisions in the Vineyard.

The Enclave is the northernmost subdivision in the Vineyard. It contains ninety-seven (97) home sites. There is one gated entry point, from Huebner Road. The original builders in this community were Japhet Homes, and Perry Homes. The North East Independent School District (NEISD) provides public education to the students in this area.

The Enclave is bordered by Huebner Road on the east, The Province, another Vineyard community to its south, Rogers Ranch on the west, and an unimproved area to its north. The area has several hills which provide great views of the area. Homes located in the western part of the subdivision have the highest elevations.

Homes in this subdivision tend to be larger, on average, than the homes in Napa Forest and Sienna Woods. As of today, there are two homes available for sale. Houses in The Enclave are typically only on the market for about three (3) months before being sold.

If you would like more information about The Vineyard, its communities, or anything about Bexar or its surrounding counties, call or e-mail me. I also have a network of great realtors who can help you anywhere in the free world.

See subdivision reports by following the links, below:

The Vineyard

Napa Forest and Sienna Woods

The Province