http://www.sabor.com/index.cfm?FuseAction=Page&PageID=1000000

Carver Communications - Index

Carver Communications - 2.1.09 - Index

On January 6th, 2009, the San
Antonio Board of REALTORS® held
their 2009 SABOR Housing Forecast
which over 700 people attended. The
morning began with four distinguished
speakers who touched on the downtown,
local, state and national markets, and was
followed by a panel discussion with the
speakers. Attendees gained valuable
information about current trends in the
San Antonio market as well as information
on what 2009 is predicted to bring.
Lisa Schmidt, Downtown Living
Specialist from Phyllis Browning
Company, was the first speaker of the
morning and delved into San Antonio’s
downtown residential development. She
mentioned that key areas of development
between 2007 and 2015 will include
River North, locations near hospital
areas, South Flores St., Sunset Station
and central downtown. Ms. Schmidt
explained that the Riverwalk Expansion
project will have an enormous impact on
the city as a whole. She also explained
that several condo units and newly constructed
apartment buildings in the
By Florence Terrell
Chairman, San Antonio Board of REALTORS®
SABOR Housing Forecast, a Great Success
Reduced to $995,000
Anaqua Springs - 11430 Anaqua Springs
4 bedroom, 4 baths, 3 car garage, spectacular living
opening to outdoor living area with great views, pool,
fireplace and summer kitchen. - 698-0120
downtown area are providing a rich lifestyle
with living accommodations such
as full-service coffee bars and other
amenities that appeal to the people who
are moving there.
Following Lisa’s presentation,
Bob Gardner, CEO of Legacy Mutual,
took the stage to present information
depictive of San Antonio’s market as a
whole. Using the San Antonio Board of
REALTORS® Multiple Listing Service
statistics, Mr. Gardner compared 2008 to
2004, which was the 4th best year in real
estate. He explained that numbers in
2008 were down from 2007, but that
overall, San Antonio is a good place to
live. As of November 2008, the average
number months of supply for homes
under $250,000 was around seven
months. “The $250,000 market is a good
market; it depends on where the home is
located as to how well your property
sells,” Mr. Gardner explained.
Toward the end of Mr. Gardner’s
presentation, he shared information
about specific neighborhoods and subdivisions
in San Antonio and explained that
February 1, 2009 REAL ESTATE NEWSLINE 3
he considered outside Loop 1604 to be
‘suburban San Antonio.’ He also mentioned
that something needs to be done
about the Highway 281 corridor because
of the heavy traffic that moves through
the area. “Property values will begin to
go down if this problem is not
addressed,” he said.
After Bob Gardner, Dr. Mark
Dotzour, Chief Economist Research
Director from the Texas A&M University
Real Estate Research Center gave a presentation
on the state market. Dr.
Dotzour explained to the audience that if
you want to live in a house for two plus
years, now is probably the best time ever
to buy a home. He did mention that the
dropping of oil prices was not necessarily
a good thing for the economy of Texas
since energy helps grow our economy.
He also said that he is discouraging more
home building (new construction) than
what is necessary to help drive down the
amount of supply in the market.
To conclude his presentation, Dr.
Dotzour highlighted many of the areas
across the nation that have had significant
decreases in prices over the last 12
months only to compare those same areas
to how they have grown over the last five
years. For example, Naples, FL has
experienced a -25.25% decrease in prices
within the last 12 months, but has realized
a +29.78% overall increase in prices
over the last five years. Similarly, Los
Angeles, CA has experienced a negative
-26.78% in prices within the last 12
months, but has realized a staggering
positive +45.55% growth over the last
Anaqua Springs - 24911 Caliza Terrace
Amazing views & loaded w/ trees on over 1 acre. 2
living areas surround spacious kitchen, 4 bdrm, 4.5 ba.
Outdoor living has over 500 sf with pool & wooded
canyon views. 5297 +/- sf. – 698-0120
five years. According to Dr. Dotzour,
buying a home for the long term doesn’t
look as dismal as the media is making it
seem.
The final speaker to present was
Paul C. Bishop, Ph.D., the Managing
Director of Real Estate Research at the
National Association of REALTORS®.
Dr. Bishop said that Texas is doing relatively
well compared to the rest of the
nation, and that there more than likely
will be more bad news before good for
the national economy. He explained that
fear dominates the market and is helping
it weaken. According to NAR, 65% of
Americans view economic conditions as
“poor” while 6% view them as “excellent”
or “good” based on Gallup polls as
of November 28, 2008.
Dr. Bishop said first-time home
buyers should look to buy now and that
the desire to own a home is still there.
He didn’t see a quick rebound in the
housing market over the next year or so
but explained that real estate is a longterm
investment.
Overall, the speakers presented
information supporting that San Antonio
is a good place to be. Between job
growth, stable price appreciation and the
affordable market, San Antonio continues
to be ranked as one of the top cities
to live in by various research centers.
There are a lot of good things happening
in real estate with pent-up demand –
don’t let those opportunities pass you by
in 2009.
To view presentations and photos
from the event, visit www.sabor.com.
Price Reductions and
4% Commission
Ready For Immediate Occupancy
The Dominion - 6 Venice Court
3 bedroom with designer baths and powder, study with
fireplace, soaring ceilings, gourmet kitchen, 3 car garage, yard
maintainance by HOA, outdoor fireplace, pond and waterfall
in front courtyard, approx 4180 sq. ft. - 698-0120
Reduced to $1,050,000 Reduced to $1,195,000
Reduced to $1,485,000
Waterford Heights - 209 Lismore
Enjoy the evening breeze while sitting high on over 1.3 acres.
Outdoor living w/ summer kitchen, fireplace and refreshing
pool. 5 bdrms, 5 ba, 3 liv. 5038 +/- sf. – 402-6400