When you hear that inventory is shrinking in San Antonio, be careful you don’t jump to the wrong conclusion.
Yes, the real estate markets seem to be on the upswing. Everyone’s talking about the coming seller’s market. “The summer of 2013 may be a great time to finally sell your house,” some experts say. If that’s true for housing markets, then we may be on the road to recovery…at least until the next bubble.
That doesn’t help you much if you need to sell right now…and/or if your house isn’t what most buyers are looking for.
Here’s what you need to know about inventory of available houses and what it means to you. If you’re hanging on and waiting for a good time to sell, you might be in for a longer wait than you anticipated.
While the inventory of available houses in San Antonio is smaller today than this time last year, would-be sellers should be aware of some revealing details.
First, the dramatic differences in inventory numbers across different home price tiers. For example, in San Antonio the decline in higher priced homes inventory is 22%, meaning there are 22% fewer homes available in the highest price range than last year. In the middle tier, it’s 28%. Finally the lower priced homes inventory has shrunk by around 6.5%, not a huge difference, but it shows a good trend for homeowners who want to sell at any tier.
The inventory of available houses varies by area, too. The North Central and Northwest areas of San Antonio are the hottest areas for traditional buyers. As San Antonio expands north, people looking for new homes must face the good news/bad news of the high growth San Antonio market. While they will find more houses to choose from, they also have more competition for the same house simply because of the influx of people and families to the South Texas area. The case may be different in other older areas of town.
Another factor in available inventory is new construction vs. existing resale homes. Adding to the above point on new neighborhood growth is the existing “shadow inventory” in San Antonio. Shadow inventory is the term used to describe pending homes, those that are delinquent but not yet listed for sale. The good news for homeowners is the speculation that if all SA shadow inventory were placed on the market right now, the supply would run out in only 4.7 months. That’s a pretty uplifting number. The bad news is that if you’re in that boat — and you’d like to sell today — those 5 months are an eternity.
When you want to sell your house, and if you need to sell your house fast, your personal situation matters more than all these statistics. You can try to predict when the markets will be the most favorable for your home sale…and we can help you with that by sharing what we know about home sales in your neighborhood. Markette Properties is an open book. We’re not in the business of arm twisting. We simply have cash and facts at our disposal to help you make a decision that works for you.
The fact is, playing the real estate timing game with your house is a luxury that some people can’t afford to enjoy. Even in the most robust seller’s market, no one can guarantee a quick and smooth sale if you’re relying on a conventional mortgage and a buyer dependent on the status quo in real estate transactions.
So much depends on the buyer, his or her financing, the bank’s approval (if the house is underwater and you need to do a short sale), and a dozen different variables.
If you’re like many, you might need to sell your house because circumstances dictate; not because you feel it’s the “right time.”
Please feel free to call and get a professional opinion on this. It’s no secret, we want to buy your house and are prepared to do so quickly. However, our first priority is to ensure the transaction is a good fit for both of us. Leave the speculating to others. Call us to get the cash you need in the quick time frame we promise.
We can buy your house fast in Texas! Markette Properties presents an unique, simple approach for selling your home! We are real estate investors. We buy houses in Texas just like yours! We are dedicated to the highest professional real estate standards for all of our clients.
Do you want to sell your house fast in Texas for top dollar with the least hassle? Give us a call! (210) 853-2788 or click the button below.