Nationally and locally, experts predict another great year for housing – San Antonio Business Journal

As members of the real estate community gathered last week to discuss the year that was and what 2018 might bring, all agreed that the future of the housing market is strong for San Antonio and Texas.

Two forecasting events were held last week offering 2018 outlooks from differing but complementary perspectives of the local housing industry: one on Jan. 4 focused on the home sales market presented by the San Antonio Board of Realtors and one on Jan. 5 focused on the home construction market held by the Greater San Antonio Builders Association. Both events featured housing experts, economists, analysts and politicians discussing what challenges and successes San Antonio’s housing market had in 2017 and what 2018 holds in store.

Two overarching themes were prevalent at both events: The overall housing market will likely continue its upward trajectory, and more single-family homes need to be built in San Antonio in order to control rising home prices.

2017 was a good year

Each event showcased plenty of data showing a very positive picture of the overall economy and how the local and national housing markets faired in 2017. At SABOR’s event, Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors, said that 2017 saw a decade high for home sales nationally and a 4 percent increase year-over-year in home sales in San Antonio since November 2016. Median home prices in San Antonio also saw a 9 percent increase over the same period.

National home sales declined at the beginning of 2017 as a result of a bump in mortgage rates. But as rates eventually tapered off, almost every month of 2017 saw a rise in home sales compared to the same month in 2016. Meanwhile, a survey by the NAR revealed that people were more willing to buy homes during 2017 than in 2016.

"Politically, people may still be feeling pretty divided, but from an economic standpoint, people are feeling more optimistic overall,” Yun said.

The new affordable

While there was plenty of encouraging data in 2017, speakers at both events expressed concerns, most of which related to San Antonio’s housing inventory and how an undersupply is negatively affecting home prices. San Antonio housing starts were at a decade high in 2017, but experts say there need to be more.

“I’m really concerned about a housing shortage, and we can do something about it this year, but we can only do something if you care,” economist Mark Dotzour said.

While starts of single-family homes continue to rise, the housing inventory on the market — expressed as the approximate number of months worth of homes available at a given time — has remained much lower than the recommended six months that most consider healthy for any housing market. San Antonio averaged closer to four months of inventory in 2017. Dotzour and others cite the less-than-optimal inventory as the reason prices have increased. That price increase is eliminating a number of new affordable homes from the market and even creating a new definition of affordability.

Jack Inselmann, senior regional director at Metrostudy, said new homes under $200,000 are simply not being built in San Antonio, as the percentage of new homes at that price has declined steadily. A 2009 report showed that new home starts priced under $200,000 accounted for 65 percent of the San Antonio market, while 2012 saw 50 percent of new home starts priced below $200,000. In 2017, just 17 percent of all new home starts in San Antonio were for homes under $200,000.

Three price ranges have seen significant growth since 2013, including $200,000 to $250,000, $250,000 to $300,000 and $300,000 to $400,000. In 2017, the $200,000-to-$250,000 range accounted for the most new housing starts at 28 percent. The median home price in November 2017 was $216,900, while the average home price was $256,253, according to SABOR.

"$200,000 to $250,000 is the new affordable," Inselmann said.

On top of rising home prices, housing has become less affordable to many because income growth has not kept up with rising prices. Since 2011, Yun said, home prices have risen by 48 percent, while incomes have risen by 15 percent over the same period. Despite this problem with affordability, San Antonio still ranked 14th nationally in new home starts in 2017, led by development on the city’s West Side. Since 1980, West Side San Antonio has led the metro area every year in new housing starts, coming in at above 30 percent each year. In 2017, the West Side accounted for 32.2 percent of new housing starts, the greater New Braunfels area ranked second with 17.2 percent of all new starts, and the area around North Loop 1604 East and Interstate 35 ranked third with 16.3 percent of the metro area’s new home starts.

Inselmann said these numbers are not likely to change anytime soon, as San Antonio’s expansion west and further development along the I-35 corridor continues.

What to expect in 2018

Once again, the experts seem to agree: 2018, like the year previous, will be another year of growth for San Antonio, the state and the country, as long as nothing major disrupts the economy.

For Yun, the national economic and housing forecasts look to stay positive and improve on 2017. He predicts a national growth in gross domestic product of 3 percent and the creation of an additional 2.4 million jobs, as well as 700,000 new homes sold and a median price growth of 2 percent.

Locally, Inselmann predicts that job growth in San Antonio in 2018 will again outpace that of the previous year, saying anything from 11,500 to 12,000 new jobs in the area would not surprise him.

“What we’ll experience next year is another good year,” he said.

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San Antonio TX Housing Options

San Antonio, Texas is home to the Alamo. It is a city offering lots of history, diversity, art, and culture. The housing options here are found in beautiful neighborhoods in a climate that is warm in the summer and mild in the winter. San Antonio is one of the most affordable cities to live in.

Everything from housing to healthcare and food is affordable. This is a great city to raise a family in or to retire at. Your life will improve when you move to one of the gated neighborhoods or luxury homes. There are plenty of starter homes available with some of the finest single-family homes in the state. All the schools are excellent.

San Antonio is also known as Military City. It has several military bases which also are home to pristine gated communities and neighborhoods. Live near the rivers and lakes in sprawling, beautiful Texas Hill Country. Some of the most popular neighborhoods include Stone Oak and Alamo Ranch.

Stone Oak is on the North Central side of the city outside of Highway 1604. This is one of the best school districts in Texas and is a great place to bring the family. Alamo Ranch is another up-and-coming neighborhood for families. Alamo Ranch is near Lackland Air Force Base, La Cantera Mall, Seaworld and Fiesta Texas. There is more than enough to do with everyone in the family when you move here.

San Antonio is one of the 10 best cities according to Forbes for job opportunities. You can find a great job or, if you are being transferred to this city, you will enjoy one of the best cities in which to work. Living in San Antonio is affordable and the real estate market has a lot to offer anyone from young families to retirees.

How To Use An Apartment Locator San Antonio Service

How To Use An Apartment Locator San Antonio Service

Finding an apartment in San Antonio is something that can take some time and effort if you want to find the absolute best one for your needs. However, you can find a great apartment locator san antonio service that is able to help you locate the perfect place to live. As you consider using this type of service, you will find the tips that follow to be helpful.

First of all, decide what your budget is as you look at an apartment locator San Antonio service. How much money are you able to comfortably spend on housing each month? If you currently pay for an apartment or other living arrangement each month, you may have an idea as to how much you can spend, if not, you can find helpful calculators online. You simply input certain financial information and you will get an estimate of what you may be able to spend for your apartment.

Then, you should decide how much room you need while looking at an apartment locator in San Antonio. Do you need a certain number bedrooms or bathrooms? What about square footage, is there a certain number you need? The space of your new living space is something important to consider.

Also, you should think about any amenities that you desire. Do you want to find an apartment building with a pool or fitness center? Are there other things that are important to you in your living space? This is something important to keep in mind during your search for the best place to live in the area.

Another thing you may want to consider is the location of your new home. Do you wish to live close to friends and family? Or maybe you want to live near your place of employment or favorite shopping locations. Where you live may be something that is important to you so keeping it in mind is an important aspect while looking for a place to call home.

As you can see, you can find a great apartment in San Antonio using an apartment locating service. You should keep the important things in mind, though, to make sure you are able to find a place that is affordable, big enough for your needs, has the amenities that you desire, and is located where you would like to be. These things will help you find the perfect place to call home.

Cheap Apartments in San Antonio – Finding Your Dream Apartment

Cheap Apartments in San Antonio – Finding Your Dream Apartment

If you are a frequent traveler, then you have to stay in hotels or rental apartments quite often. Comfortable place to live away from hometown is the desire of every individual. Hotels and rental apartments of every price and comfort level are available in every city but finding an apartment that matches your lifestyle, as well as a wallet, is a difficult task. San Antonio, like other famous cities in The USA, is an icon for tourists and visitors. This demands plenty of rental apartments to be available for their guests in the city. Luxurious apartments in San Antonio are available to meet the requirements of visitors. While selecting an apartment to live in San Antonio, you should be sure of what you want and what you can afford. Make a list of the things you want in your apartment and those without which you can live comfortably. Plan before time is knowing the exact location of your job/ duty or study place and the place you are hiring to live. Make a note of all the available rental apartment buildings in the desired area.

Cheap apartments in San Antonio are located in all the sides and corners of the city. This allows you to select an apartment from where you can conveniently travel to your school, job, your family and friends. Another important factor that landlords have carefully worked out is the distance of these apartments from hospitals, banks, stores, etc. These apartments are carefully planned and managed to provide all the facilities to make your stay comfortable. Since these apartments are built from the commercial point of view, parking places, access to the main roads and public transport has been given due importance.

Renting an apartment in San Antonio would be much cheaper than renting any hotel room. There are numerous apartment buildings in the city that possess apartments of all classes and levels starting from luxurious apartments for business meetings of multinational companies to the studio apartments for the students and government employees. Cheap San Antonio Apartments offer the best place to stay for students and employees with financial problems.

In these cheap apartments, you can decide to have a furnished apartment or any apartment with the basic amenities. Be realistic in search of the apartment and opt for the one you can afford. There are some guides written on this subject suggesting that the rent of your apartment should not be more than 25% to 30% of your monthly income. This is a varying figure, but you should be in the real world while budgeting over and above expenses in your apartment such as air conditioning and heating of the apartment and other such utilities. This will allow you to rent best apartments San Antonio with all the facilities and services meeting your choice and wallet.

Things You Should Consider When Searching For Cheap Apartments

Everybody understands that normally you get what you’re paying for. Therefore, if you’re looking for cheap apartments, then you’ll have to understand that you may have to tradeoff cheap price for something else. Also, there are neighborhoods where cheap doesn’t look too cheap by any angle.

If you’re searching for cheap apartments for rent then you will be ready to avoid searching in the popular areas and look for an area further from city, and away from all those amenities which everybody wants to have in close vicinity.

Most of the people search for the cheap apartments in San Antonio as they want to make sure they do not cross a specific price limit that they think is affordable for them. In case if you have to deal with the limited budget and all you can have is a cheap apartment, you can think about downsizing your requirements to get a price that you want. If you’re single, then you’d want to think about studio apartments instead of one-bedroom. Alternately, if you’re living with your family, think about having the smallest possible number of the bedrooms in which all of you can live comfortably.

Another important thing that should be kept in mind is that you’re paying for the age and style. Therefore, if you are working with the tight budget, then you’ll have to avoid looking for trendy complexes as well as the hottest and newest apartment buildings that hit the market. They are more likely to be priced a bit higher than what you are searching for.

When you’re searching for a new apartment, spreading the word goes in your favor. You can ask around to see if somebody knows about some good and reasonably priced rental apartments San Antonio. You may be able to find an available unit or at least somebody who may be searching for a roommate. Going this route can help you save a considerable amount of money.

There are many websites that allow you to search for the rental apartments online based on the criteria as desired by you. So, you can search apartments that fall under specific price range that you may be comfortable with.

As soon as you find some apartment that arouses your interest but has somewhat higher rent than what you had expected, terms can be negotiated with the landlord. You can offer them that you will clean the unit or pay the rent of few months well in advance. In this way, you can make sure that the landlord agrees to your specific terms.

Regardless of what you can find online, don’t rent the apartment that you have not visited physically. Regardless of the price, it is always in your best interest to see the unit before you rent it. You can’t find a good deal until it meets all your requirements.

Apartment Hunting in San Antonio – Easy as Never Before

If you are on the hunt for an apartment in San Antonio, then you need not worry. There are a huge number of rental apartments available to meet the requirements of visitors and internally displaced people. Luxurious as well as cheap apartments in San Antonio are located in almost all corners of the city.

Prices of these apartments in San Antonio vary based upon the services, amenities, and their exact location within the city. For example apartments located in the very center of the city are much expensive than those located at a considerable distance from the downtown. The rates also depend upon space within the apartment. Starting from the single bedroom, double bedroom and so on prices keep increasing. While deciding the rent price of any apartment space and its location are the most important factors to consider. Mostly people look for the cheap rated apartments depending upon their income. These cheap San Antonio apartments are best suited for such individuals. One-bedroom apartment outside the center can be obtained at the rent of around USD30 per night. Also, this low rent price tends to change and can be different in the different seasons of the year.

There are no two apartments in San Antonio which are exactly alike. Unlike the hotel rooms where you book one room, and all other rooms are nearly the same. All of the apartments in San Antonio are unique. This uniqueness is ensured by different amenities and services provided for each apartment. This provides occupant a facility to choose an apartment of his range and type. At the same time, uniqueness of the apartments causes inconvenience as well. The problems occur when the landlords impose a limit for a minimum stay. Owners of good apartments are reluctant to rent out their apartments for the period shorter than five nights. Also, it may be very difficult to change the dates of your occupancy. For example, it might be necessary to extend your stay in the apartment for few more days but the apartment may be booked for someone else. It may also happen that you want to vacate the apartment earlier, but you have to clear the rent of entire booking period as other clients who were interested in this apartment in the same dates were refused because of you booking. This demands a careful planning of the duration you want to stay in any apartment.

For booking best apartments in San Antonio, you have to provide a bank deposit amounting to one night stay or higher depending upon the owner’s policy. The important factor is time as the availability of any particular apartments is changing very rapidly. To avoid this inconvenience some agencies get their apartment book in advance, sometimes months before their arrival. It is advised to get you booking at least three to four week before your arrival to the city.

How You Can Find Cheap Rental Apartments?

There can be different reasons for which you may be looking to find some of the apartments in San Antonio that are cheaply priced. Especially for new couples, graduates or anybody dealing with limited budget, affordable rent proves to be really a big deal.

More often than not, rent payments constitute a major portion of one’s monthly expenses. If you can manage to have some reduction in your monthly rent then it can really make considerable difference in your monthly budget.

There are many apartment search websites online that can help you in finding cheap apartments in San Antonio where you can easily afford the amount of rent. Typically, these websites allow you to search your desired apartment by putting the desired price of monthly rent as the search criteria. This certainly helps you in finding apartments matching your criteria rather easily. Rental listings and local newspapers may also prove to be your best choice for finding the most affordable unit for you. Many online classified websites can also prove to be your valuable resource and a wonderful search tool.

If you happen to see some signs saying “for rent” in the neighborhood where you currently live, then you must make sure that you take a look at them. Most of the times, this allows you to find an apartment that is more affordable for you and you don’t have to make a long distance move as well.

Don’t forget to ask any friends or relatives about cheap San Antonio apartments that they might know. It can prove to be really effective for your cause as you’ll be able to get some personal recommendations. You may even be able to reveal that somebody amongst your friends carries a vacant apartment and is willing to rent it out, or may be looking for some roommate with whom you can be able to share a room and keep your rental costs down to an affordable point.

Neighborhood groups as well as the community service societies may also be good for you to check when you are in search of an inexpensive rental apartment. What can help you even more is to get the services of some expert broker who can help you to find an apartment that you desire at fairly low price. However, there may be some additional fee associated for getting such a service. As soon as you are able to find some rental options, you need to carefully check these out for making sure that they meet all your requirements. The reason is that things may be even worse for you if you happen to somehow sign the lease for an apartment that looks cheap but is not something that you have been searching for. So, that is why you need to act responsibly and wisely and choose only the apartment that fulfills your needs.

How to Make an Effective Apartment Search Online?

Are you tired of making your apartment search in Texas? Haven’t you been able to find your desired apartments in San Antonio yet? Don’t worry, there are websites that allow you to search for an apartment online and they can really be helpful for you when it comes to finding a place that best suits you. These websites are designed in a way that they offer maximum comfort to the users while providing you with all significant information about apartment rentals which might be needed by you to find your desired apartment.

The rental websites provide locator services as well as the listings to enable visitors to find cheap apartments in San Antonio that fit in the search criteria set when the search is performed. Such apartment finders help the prospective tenants to access thousands of updated apartment listings for free. In case if you are facing some kind of troubles with the rental search online then you can even contact that company and their agent will show up to help you out with your apartment search. There are no costs involved in searching apartments through these apartment finding websites and renters who use these websites for finding the apartment they are looking for receive cash rebate as a return. Generally these rebates are around $100, however sometimes they are more, and it is just a way to say thanks to offer such services and a way of helping clients to remember listing their own company as a reason of leasing property. In case if you’ve decided to make use of some apartment search website for finding your next apartment in the state of Texas, they are paid commission if you write the name of the company as source of your referral when signing the lease. Therefore, if you want to get some money for free, then you must keep it in mind that you have to list that company which assisted you to find the new place.

There are some nationwide apartment search websites as well. Such websites tend to be an enormous resource and prove great for you to browse famous rentals in the area you may be interested in; however, they aren’t too good when it’s about nitty-gritty. The agents working for these websites aren’t just local agents and have all the knowledge you want about any aspect of your search. You may be unlucky if you’ve got queries regarding anything other than a property name. In such a scenario, it is better to find some regional apartment listing website which serves that market where you are going to move. This type of websites offer searchable apartment database similar to the national sites, but they typically have some local agents who have more knowledge about the local apartments and areas and can prove to be beneficial for assisting you.