Tag Archives: mortgage rates

New Year! New Home?

8.28.17

The new year is a great time to set goals and make a plan of action. If buying a new home is on your list this year, there’s no better time to get started. With an estimated million more people moving to the Alamo city within the next ten years, now is the time to bring that dream to the forefront – find your ideal location, plot of land, and let us build you a luxury home you will love for life.

As always, we’re here to help. Here are some updates on current housing market trends, so that you can be as informed as possible when making your home buying decisions:

-          According to Market Watch, mortgage rates are expected to rise in 2018. CoreLogic, a data provider for the real-estate industry, averaged six forecasts of mortgage rates, arriving at a consensus view that the 30-year fixed will average 4.7% in December 2018. In November 2017, the 30-year, fixed-rate mortgage averaged 4.07%.

-          According to USA Today, the U.S. has been experiencing a housing shortage. Baby boomers are staying in their homes longer than previous generations, it’s assumed, because they’re living longer, healthier lives. What this means is building a new home might just be easier than buying a previously owned one.

-          As far as San Antonio is concerned, the housing market is showing no signs of cooling. 2017 was another record year for our beautiful city. New home sales are expected to increase by 7% this year, while existing home sales are likely to increase only 2.5%. Looks like everyone’s wanting a custom-built home!

Find out why a custom-built home is the best idea for you too! Call us at 210-494-5400 to set up a free consultation. You can also fill out our online form to request more information.

 

What Does the Future Hold for San Antonio Residents?

What Does the Future Hold for San Antonio Residents?

It certainly was an interesting 2016 for San Antonio as our beautiful city continues to grow – proving year-after-year that it’s one of the best cities in the country to live. Although the recent and tumultuous political climate may seem to have put a momentary damper on things, we have good news to share!

Although housing prices are rising, San Antonio still offers a surprisingly low cost of living and low cost of doing business in comparison with other metropolitan cities. The San Antonio Board of Realtors predicts the market here will continue to boom, which ultimately is a great thing for everybody. Mortgage rates should still remain relatively low and the job market should be hotter than ever, bringing more people to the city.

A real estate economist, Dr. Mark Dotzour suggests that, “the average Texan is having a hard time finding a home to buy.” We think that’s just a perfect reason to have us build one for you. We can help you find the ideal land for your particular needs and work within your budget to create your dream home. We prove time and time again that it can be done!

Here are some of the expert’s predictions for 2017 that will effect not only San Antonio but the entire U.S.:

  • Realtor.com suggests growth in 2017 will happen slowly, in moderation. They also predict that home prices will increase at 3.9% annually, compared to approximately 4.9% this past year.
  • In the top 100 metro markets, inventory has dropped 11%, which means that there are fewer homes on the market.
  • The housing market is at low risk of crashing in 2017.
  • Thank goodness gas prices have dropped because in 2017 it looks as though more people will be driving in from the suburbs for work, regardless of urban developments.
  • Renting will become more affordable this year.
  • Millennials and boomers are gearing up to take over the market.
  • You can expect to see a trend towards government deregulation.
  • According to gordcollins.com, the economy will keep going. Thus, proving to be the longest business cycle in history.

We hope you feel as confident as we do that there’s no better time to bring your domestic vision to life! Please call us at 210-494-5400 to set up a free consultation. If you wish to be added to our private email list for our newsletter, please sign up here.