Want to see the future and current projects that are transforming San Antonio’s central city? Check out this amazing new website that was recently launched. This is a comprehensive list with lots of wonderful information and photos. Thank you for your tremendous effort, Todd Morey and Lorenzo Gomez. Urbantonio.
Housing Inventory in San Antonio Hits Six Year Low
Homes that are priced well and in good condition are flying off the shelves. Multiple offers and short days on the market are now the norm. This article was posted in Real Estate Newsline.
Housing inventory in San Antonio hit a six year low in September with just 4.6 months of inventory. Homes spent an average of only 70 days on market and 97 percent of homes sold for list price. According to the San Antonio Board of REALTORS (SABOR) Multiple Listing Service Report, a total of 2,031 homes were purchased during the month, which is a 20 percent increase from September 2012.
“We have seen our inventory getting smaller and smaller all year, making this more of a competitive market,” said Steven Gragg, 2013 Chairman of the Board. “Low inventory could result in sellers receiving multiple bids on homes located in prime locations or being able to sell closer to their asking price.”
According to the National Association of REALTORS, the Texas housing market largely avoided the crisis other states experienced over the past few years, crediting Texas’ vibrant job market and growing population. Texas has also seen substantial declines in foreclosure notices filed. In fact, according to Realty Trac, between July and September, Texas experienced a decline of 44.6 percent in foreclosure filings, compared to 29 percent nationwide.
The average price in San Antonio of a home sold in September 2013 was $205,728 and the median price was $168,700, both seven percent increases from the same month in 2012. Year-to-date the average also increased by seven percent to $207,103 and the median grew by six percent, to $169,900.
The price breakdowns showed a slight increase in September from previous months for homes sold in the low range (below $200,000), with those accounting for 62.24 percent. Homes price in the mid-range (between $200,000 and $500,000) made up 33.97 percent of sales and homes costing over $500,000 accounted for 3.69 percent of homes sold.
“Interest rates have been at historic lows for some time now allowing many people to take advantage of the opportunity. Although the rates have started to inch up, they still remain below five percent making home buying affordable for a wide range of people,” said Angela Shields, SABOR President and CEO.
How’s the market? Hot!
This recent article was posted in the San Antonio Business Journal about the residential real estate market in San Antonio. While the article focuses mostly on Alamo Heights I can attest that the seller’s market discussed is also happening in the downtown and central city neighborhoods. It has been my experience recently both on the listing and buying side that desirable homes that are priced well will receive multiple offers. The title of the article says it best, “The pace is back.”
“The Pace is Back.”
By Shari L. Biediger for San Antonio Business Journal
A co-founder of the boutique firm Nix Realty, Kate Park recently showed a charming 4-3-2 on a tree-lined street in Alamo Heights, only to receive a text message from the listing agent while walking back to her car.
The house just received an offer from another buyer — one who had not yet seen the property.
“The pace is back,” says Park. “It is fun.
Turn down those thermostats. Local home sales are heating up faster than the patio furniture cushions on a sizzling, summer day. And not just in the popular pockets of the past. Some of the city’s sleeper markets are awakening.
“The number of days on the market continues to drop, average sales prices continue to increase, while months in inventory continue to decrease,” says Steven Gragg, chairman of the San Antonio Board of Realtors. “Last year was a really good year. And now, within the first quarter of 2013, we are 15 percent ahead of 2012.”
Ready to pounce
It’s a trend that began last summer, says Park.
“The pace was fast in 2012 for the same three months, March to May,” says Park. “But this year, it seems as though there are more properties selling with multiple offers, which usually equates to the seller getting closer to their asking price, or even more than their ask in a few cases.”
Low interest rates and higher consumer confidence are drivers. It doesn’t hurt that election year has passed.
SOLD – 514 Madison in King William
SOLD – 514 Madison in King William
This nearly 100 year old Queen Anne Victorian beauty now has new owners.
NEW LISTING – 514 Madison St 78204 – $545,000
LISTING – 514 Madison St 78204 – King William Historic District
This two story Queen Anne home sits on a double lot just steps away from the River Walk in Historic King William. Double wrap around porches provide the perfect vantage point to watch the Fiesta King William Fair & Parade. The home features high ceilings, tall windows, beautiful hardwood floors, space for attic expansion, & a grand entry with elegant stairway. The family room overlooks the spacious yard shaded by mature trees. The detached two car garage off S. Alamo has a second story studio & full bath.
NEW LISTING – 239 Lone Star 78204 – $155,000
239 Lone Star 78204
Recently renovated historic home in the hip Lone Star Neighborhood. 3 bedrooms & 2 bathrooms. Renovations include refinished floors, new interior paint, electrical upgrades, updated bathrooms, HVAC, updated kitchen with stainless steel appliances, washer & dryer, attic conversion, and a security system. Open floor plan flows into the sleek kitchen with breakfast bar. French doors open to a deck and a large back yard. Perfect for entertaining. Move-in ready and waiting for you.
Click on the photo for more pictures and information about the house.
NEW LISTING – 531 Devine St. 78210 – $149,900
531 Devine St. 78210
Wonderful two bedroom and two bathroom home in Historic Lavaca. This home was renovated in 2007 to include foundation repairs, metal roof, and double pane windows throughout. An architecturally designed complementary addition was built to add modern amenities such as a master bath, dressing area with walk-in closet, laundry area, and a screen porch. Large lot includes a storage building. Great location in the neighborhood with easy access to Hwy 281.
Click on the photo for more pictures and information about the house.
So this Trader Joe’s thing is really happening
The Express-News is reporting today that the rumored store at The Quarry will really open. Who’s planning on being there for opening day? I’m looking forward to checking it out although I’ll admit I don’t plan to camp out like the guy mentioned in the story.
Trader Joe's
Trader Joe’s to open Oct. 19
By Valentino Lucio
Tuesday, June 12, 2012
Mark your calendars Trader Joe’s fans, the grocer plans to open its first location in San Antonio at 8 a.m. Oct. 19. And one fan already has planned to camp out to ensure he’s the first in line.
Chuck Hernandez, who is the owner of an organic catering service in San Antonio called Arugula Catering, said that he became familiar with Trader Joe’s while studying in California. He said that a tight-knit community exists among people who are familiar with the grocer.
“These are my people at Trader Joe’s. It’s what I grew up with. If you see people with a Trader Joe’s tote, you’re going to stop and talk to them. It’s a strong community of people.”
And when the store opens, Hernandez already has plans to be the first one there.
“I’m going to be the first in line with the first dollar,” he said. “I’m camping out.”
The 11,000-square-foot store will be located at the former West Elm furniture store at the Quarry Village and construction is expected to start sometime this month, said Alison Mochizuki, spokeswoman for the California-based grocery chain.
The San Antonio opening is part of the company’s aggressive expansion into Texas. Trader Joe’s signed the lease for the store at the Quarry Village in March. Other locations the grocer has announced for the Lone Star state are in Austin, Dallas, Fort Worth, Houston, Plano and The Woodlands, according to the company’s website.
“Trader Joe’s is very excited to open a new location in San Antonio. It’s a wonderful community filled with foodies,” Mochizuki said.
The locations at The Woodlands and Fort Worth are slated to open Friday, according to the company’s website. The Austin location, which was the most recent store announced, is set to open in 2014.
Hiring for general staff at the San Antonio store is anticipated to start sometime closer to September. How many people the grocer is looking to hire hasn’t been released, but already Trader Joe’s is accepting applications for management positions for the San Antonio store.
Trader Joe’s got its start in 1958 and has more than 360 stores in 32 states. The chain is known for its specialty foods, private labels and quirky atmosphere, which includes employees who wear brightly colored Hawaiian shirts.
It has amassed a cult following, especially in areas where it’s absent. A Facebook group page called San Antonio Needs a Trader Joe’s has more than 620 members.
When it was reported that the grocer had plans for a store in the Alamo City several expressed pleasure about the news.
Some posted, “Yippee!” and “Hallelujah!” Others claimed to do the happy dance.
Read more: http://www.mysanantonio.com/business/article/Trader-Joe-s-to-open-Oct-19-3628695.php#ixzz1xi3oCymW
NEW LISTING – 314 Madison 78204 – $850,000
314 Madison 78204
Contemporary construction in the center of the King William Historic District. This luxurious and spacious home has it all. A gourmet kitchen is at the heart of the open floor plan which allows for wonderful entertaining or simply spending a quiet evening in. The private master retreat features a dressing room wrapped with California Closets, two restful balconies, and a well appointed bath. The pool, yard, and patios provide great spaces for outdoor living. Impeccable condition and centrally located.
Click on the photo for more pictures and information about the home.
New Apartments Coming near King William, The Viceroy (now known as The 1010.)
The recently cleared plot of land at the intersection of West Guenther and South Flores will soon feature an apartment development, The Viceroy. I drive by this intersection almost daily as my office is located just a few blocks south at the intersection of Cevallos and South Flores. I’ll enjoy watching this project go up as much as I’m enjoying watching Steel House Lofts going up now. The Viceroy, Steel House Lofts, and Cevallos Lofts will greatly increase the density in the area and bring with them new amenities for the neighborhood. The developer of The Viceroy, Landbridge Partners, recently successfully rezoned the old Lone Star Brewery. Keep your eyes on my post and I’ll update as I learn more about the plans for the brewery.
***UPDATE*** The new name for the location is The 1010. I’ve added them to my list of Places to Rent in Downtown and Southtown.
Below is the recent story run in The Express-News. The link to the story is also at the bottom of the post.
The Viceroy on the way to King William area
By Valentino Lucio Wednesday, February 22, 2012
The Viceroy, drawing provided by developer
Historically, every king needed a viceroy.
So it’s appropriate that the King William area welcomes The Viceroy, a mixed-used development in the Southtown neighborhood that broke ground on Tuesday at the corner of West Guenther and South Flores streets.
The 48,000-square-foot building will have about 5,800 square feet of commercial space on the first floor, which could be used as light office or retail space, said Sunshine Thacker, the owner of Landbridge Partners, the project’s developer.