Good news for San Antonio real estate
The San Antonio Board of Realtors has announced that home sales rose by 25% in October compared with the same month in 2008, possibly due to the $8000 first-time home buyer tax credit.
More than 1,712 existing homes were sold last month and most of them sold at less than $200,000. In October, only about 9% of the sales were lender-owned properties.
The tax credit has now been extended through the spring and now includes a $6,500 tax credit for people selling a home they've owned for at least three years and purchasing another one.
SABOR says that October's home sales also got a boost because they're being compared with the gloomy economic environment in 2008. Negative events with banks and the stock market caused many people to delay buying a home during October of last year.
One of the strengths of the San Antonio housing market is that it isn't dominated by lender-owned properties.
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As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.
Great for you guys Shirley!
Shirley
I think the real results will be out year end 2010 or early 2011. I am so afraid of the false economy syndrome.
Let's hope that you have the ability to keep trending up. It'd be a good sign for all.
That is very good news! Congrats to your market area!
Sincerely,
Kathleen
Howdy there Shirley
I'm sure glad your market is moven up, and that your area is not dominated by bank owned properties.
Hi Shirley, It seems 200K and below is a great market -- and good news for San Antonio- keep moving forward ! :-)
'Looks like that first-time homebuyer tax credit is really working in your area, Shirley.
That's wonderful! I'm seeing reports of good numbers for October from lots of folks!
Shirley it is good to hear your market has been improving. I hope you end the year on a high note!