Home Buying in San Antonio>Question Details

Bibiana O., Home Buyer in San Antonio, TX

We are a military family relocating to San Antonio at least for two years. Big question, should we buy or rent a house?

Asked by Bibiana O., San Antonio, TX Sat Feb 19, 2011

Our approximate date of arrival would be June 15th. We are first time homeowners. Our tour to Lackland AFB, will be for two years and then who knows. We have started our homework looking for houses through the internet. Far Northwest looks a good area but we are not sure about neighborhoods. Thank you for your answer.

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Answers

39
rrsmith’s answer
If you are out by lackland, I would look in the seaworld - 151 Area. There are a lot of good neighborhoods in that direction. I would be living there myself if I didn't work on the other side of town...
0 votes Thank Flag Link Tue May 15, 2012
I would rent since you dont know you will be there for more than 2 years.................
1 vote Thank Flag Link Mon Feb 21, 2011
First of all, thank you for your service. None of us could do what we do if you weren't willing to do what you do.

As much as I'd like to sell you a home - unless you're sure you want to come back here or keep the house as an investment, It would probably be better to rent. If you buy, then you lose your VA eligibility until you sell the house - and since you don't know what the future holds, you may not want to do that.

I've been associated with military life all my life... lived in 8 states and 2 foreign countries. I understand what you're going through with such a big move. No matter how much you plan, it's never easy...

I'd be glad to email you some rental properties if you'd like to see what's out there. Just send your email address with a price range you're comfortable with to pjhumes@kw.com.

Regards,
PJ

P.J. Humes, ABR,SRES

REALTOR ~ Smallwood & Associates
Keller Williams Legacy
1102 E Sonterra Blvd Ste 106
San Antonio, TX 78258
210.482.3200 Office
210.482.3237 Direct
210.845.9751 Cell
210.403.0762 Fax
Email - pjhumes@kw.com
Visit my website at - http://pjhumes.yourkwagent.com/

Personalized service for your unique real estate needs!
1 vote Thank Flag Link Sat Feb 19, 2011
This post is a few years old, perhaps the rules were different, you do not lose your VA eligibility after you buy a home. You have live in it for a minimum of two years before buying another home and you have to provide justification. PCS is a valid justification.
Flag Wed Apr 30, 2014
You will probably not earn enough equity in 2yrs....
Think about this.... What happens in 2yrs? Would you be comfortable selling your home and having to pay out of pocket to do so?

Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends
tomburris@dallasloanguy.com
Lending all across the Great State of Texas!!
1 vote Thank Flag Link Sat Feb 19, 2011
Hi Bibiana,
GREAT QUESTION! i may be in the minority here, but for only 2 years...you have to weigh those options carefully and really put numbers onto paper.

Even though it IS a great time to buy, it may not be the right time for you...

Look at a few things:
-How much are you budgeting for rent?
-How much house can you buy for roughly the same amount or a little less?
-For such a short time, will your tax advantages offset your closing costs to buy and then resell?(consult with a
tax adviser!)

After you have the numbers, you can make an educated decision.

IF you do decide to purchase, can you extend here, or likely to move on?
-If you're moving on, will you HAVE to sell this house in order to afford one for your next PCS?
-If you can keep this one AND PCS, great! It could make an excellent rental!
-If you need to sell, then you want to be a neighborhood where you are NOT competing against a builder to sell your home. The same great incentives that attract you, can also attract your potential buyers!

I hope this helps, and good luck!
1 vote Thank Flag Link Sat Feb 19, 2011
Bibiana,

It is as simple as I said earlier and I do clarify that I mentioned that the best option is to keep that house if you move and add it to your long term investments. Take advantage of the low interest rates now and increase your net worth. And also, keep in mind that Texas is one of the healthiest States (Economy wise) in the nation and San Antonio is one of the top cities according to many experts.

Buying a home has risks, like everything in life, even families who plan to stay in a home for many years to come, risk of loosing their job, their health, etc. etc. and end up with the negative worst case scenarios BUT if you rent, you WILL loose E.V.E.R.Y S.I.N.G.L.E dollar you pay in rent and you will have increased someone else's net worth.

Again, I am ready when you are.

German Perez
Keller Williams Realty
210.392.4682
1 vote Thank Flag Link Sat Feb 19, 2011
oh, the home is on the city's SW side and just outside of the city limits. This is close to Lackland AFB, Sea World, shopping, etc. Fire station in the neighborhood but they run silent when in the community. This 2yr old 4/2/2 is on a huge corner lot with irrigation, alarm, water filtration, and custom landscaping. We are a kid/pet/family friendly community and work very hard to protect that. Our pets play together as well as our children with range from newborn to respectful 15 yr olds. You will not find this kind of 'family/community' most places.
0 votes Thank Flag Link Tue Jul 2, 2013
we are a military family relocating to Shaw AFB. and looking for good family in need of a wonderful home with truly wonderful neighbors. If you are interested, please give us a call. 2104496464.
0 votes Thank Flag Link Tue Jul 2, 2013
We have a home available to rent:

http://sanantonio.craigslist.org/apa/2997757813.html

Let me know if you are interested. Virginia 210-490-0028
0 votes Thank Flag Link Mon May 14, 2012
Bibiana,

Most agents are advising you to rent, most likely because they are taking into consideration the cost of both buying and selling, This could be as much as $12,000.00 or more when you consider both buying and selling on every 100,000.00. So if you purchased and sold a $200,000.00 home we are talking about upwards of 24,000.00. If you could find a way to reduce this, even if the home did not appreciate over the two years, the tax benefits of owning may make buying the better choice. The problem is, that the average real estate agent does not REBATE HALF OF ANY COMMISSION to you when you buy, or charge only 1.5% when you sell, if they did, perhaps their advice would change. I would suggest you check out http://www.halfpriced.com and find out why we are not like most other agents. (210) 281-1604 http://WWW.HALFPRICED.COM


DAVID MARNE, BROKER
HALF PRICED REAL ESTATE, INC.
116 ELM SPRING LANE
SHAVANO PARK, TX 78231
http://WWW.HALFPRICED.COM
(210) 281-1604 PHONE
(210) 724-5555 MOBILE
(866) 898-3372 FAX
DAVID@HALFPRICED.COM
Texas Law requires all Texas real estate agents to disclose the information available at the following link:
http://www.trec.state.tx.us/pdf/contracts/OP-K.pdf
Web Reference: http://www.halfpriced.com
0 votes Thank Flag Link Thu Apr 21, 2011
Bibiana,

Once again, many of the answers say for you to rent.... imagine if you buy and then decided to rent it and increase your net worth. It seems to me that according to the advise of many agents, there are a lot of people who need or want to lease. Do the smartest choice. Buy and when you move, lease.

I am ready when you are.

German Perez
Keller Williams Realty
210.392.4682
0 votes Thank Flag Link Thu Apr 21, 2011
Rent......if your only going to be here two years and then PCS, it is not feasible to buy. There are many nice neighborhoods....rentals come on and off the market at a very fast pace. If would like to see what is out there in your family budget, call me at 210-378-5932 and I can check neighborhood rentals for you.
0 votes Thank Flag Link Wed Apr 20, 2011
Rent would be the best thing for you to do. Many would advocate you purchasing a home, but when it comes time for you to leave and not knowing when you would return, it is highly unlikely you would have built up enough equity to break even on the sale.

I currently represent a military family that purchased in 2007 with nothing down on a VA loan. They are struggling at the present time to sell and break even. Even though they are in a great neighborhood, the market has not be favorable for many.

I rented when I was in the military stationed here for nearly three years before we decided to buy. It was a very wise decision on my part and it may be on yours as well!

Good luck to you and welcome to San Antonio
0 votes Thank Flag Link Wed Apr 20, 2011
I have a great town home 2 bed/2 bath for lease available immediately. location is 4507 Bending Oak. San Antonio, TX 78249

I just listed this so it may not show on Trulia until a bit later.

Feel free to call me at 210-378-7639

John
0 votes Thank Flag Link Wed Apr 20, 2011
Hi, Bibiana,

All good answers. Real Estate is highly individual. IF you have the foresight to buy a home that will make a great rental unit when you leave, and if you buy it RIGHT, you can have the advantage of great tax savings both now and in the future, and pad your retirement income later. When you are not in SA, someone else will make your payments for you. When you come back, as most USAF families do, you'll have a home ready for you.

Odds are that, if you like the home, another Military family moving in when you PCS will like it too. With the advantages that a housing allowance gives you, you can build a portfolio of nice rental units which could be all or nearly paid off when you get ready to retire. Right now, prices are low and interest rates are at historic lows. Most financially savvy publications are advising "now is the time to invest in Real Estate", and San Antonio is at or near the top of their list of best places to buy.

Contact us for our FREE list of the Best 10 Buys in San Antonio.

Good luck,

Doc Stephens, REALTOR
Web Reference: http://TellEllen.com
0 votes Thank Flag Link Thu Mar 24, 2011
Bibiana,

This is a very good question that should be weighed heavily. The first step would be to ask why it's important for you to buy a home now; and, what's the driving force to buying a home now. Then, identify the pros and cons on buying a home. Some examples of a pro would be: low interest rate, buying at a great price (below the market value in the subdivision), the mortgage interest deduction, investing your money rather than paying your landlord’s mortgage. Some cons would be the probable low equity built up in two years; the possible inability to sell in order to break-even; or, the possible decreased value of your property. This exercise may seem tedious, but it will help your decision to be clearer.

However, if you need help with the decision, I would advise you to meet with a mortgage professional such as myself to help you weigh the options. This should be done before meeting with a realtor.

I look forward to helping you with this big step in your lives.

Sincerely,

Dianne Y. Ayala Steffey, MBA, CLU, ChFC, NMLS #267658
Sterling Mortgage Services, NMLS #373771
2929 Mossrock, Ste 222
San Antonio, TX 78230
Dianne@sterlingloans.biz
http://www.sterlingloans.biz
0 votes Thank Flag Link Tue Feb 22, 2011
Thanks everyone for your answers. It helps me a lot to have advice from professionals like you. Now, we are analizing our options to make a decision. I appreciate your help.
0 votes Thank Flag Link Mon Feb 21, 2011
Hi Bibiana,

Simple answer is Yes!! However, it depends on your personal finances, and reasons for wanting to buy, as well.

I bought my first home while on active duty, and it was my best investment as a young service member. It was also purchased at a time, when buying a home wasn't the norm... and yes I was only stationed there for 2 yrs.

If you can approach the home buying process as an investment.. you will be fine. I would recommend a buy and hold approach to any purchase. If done correctly, you can have a long term asset... rental property... with good cash flow, for years to come. I take a different approach when helping military clients analyze purchase options, because obviously you may anticipate a 2 years on station.. but honestly, you can PCS anytime Uncle Sam is ready for you!!

Let me know if you would like to discuss this matter in greater detail.

Sincerely,

Randy Pereira
Realtor, ABR
ULTIMA Real Estate
Web Reference: http://www.trust2move.com
0 votes Thank Flag Link Sun Feb 20, 2011
I think you've probably got it by now by all the answers below, but I just wanted to show you one more reason how it is probably not a great idea to rent when it is better to buy here in San Antonio:

http://www.realtor.org/RMODaily.nsf/pages/News2011012401?Ope…
0 votes Thank Flag Link Sat Feb 19, 2011
Hello Bibiana,

We've just been working with a few military families PCS'ing in. There are a few possibilities out there that can make even a 2 year turn-around very workable if not even profitable for you. For example, there are still a few HAP program homes out there that you can make an incredible savings on; along with some foreclosures in that area that are priced very competitive. However, those are usually ones you will have to jump on quickly but it can be done.

One of my clients just went under contract on a home recently priced at $137k and was listed at $123k currently but we are now in escrow at $110k with $4,500 back for closing costs. She's truly only putting about $4,700 of her own money into this home and it's current tax assessed value is $128k!! My client's are ECSTATIC!!!!

If you want my personal belief, home ownership is ALWAYS a benefit over renting if you can believe in working and doing a little more than the common person. Either way, it's a mortgage payment being made, but it's just up to you as to who's you're paying down. ;)

God bless,
Josh
Web Reference: http://www.exposedhomes.com
0 votes Thank Flag Link Sat Feb 19, 2011
First, let me say congratulations on your future move to San Antonio! We love it here. We came in 1991 but sadly had to move after only 2 yrs. We always said if we could go back anywhere it would be SA and 2 yrs ago we had another opportunity and we grabbed it!
My advice? Definitely buy! This week I went to a seminar on how to attain personal wealth and I sure wish someone had told me this 20 yrs ago because if I had invested more in real estate rather than a 401K, I would certainly be a lot better off now! Despite the last few years of craziness in the market, Real Estate is and always has been your best long term investment. I met a retired military couple who said that every time they moved to a different city they bought a modest home and then rented it out for a profit when they moved. They continued to apply their profits toward the mortgages and by the time he retired from the air force last year they had 8 homes paid for with a monthly income of over $10,000. Not a bad investment….even with the fall of the market. It just makes good financial sense.
Yesterday I rented a small house to a military couple for $925/month. With their security and pet deposits and first month’s rent, they wrote a check for $2150. That same house was for sale for $84,000 and with the same amount of money down, they could have bought it and had a $700/month payment, lived in it for 2 yrs and then rent it out themselves making a $225 monthly profit. Applying that $225 profit toward the principle each month would pay off your mortgage in almost half the time! It just makes good financial sense to buy. Check out homes for sale in the Lackland area on my website: http://www.explorealamocity.com. Good Luck to you!
0 votes Thank Flag Link Sat Feb 19, 2011
Two years. That is the most important part of your questions. What happens after two years. Do you have an option to stay? My husband is in the Navy currently stationed with the Marine Corps serving with the 3/9 in Afghanistan so I have some experience in the PCS arena and live and sell in and around two huge Naval Base. I can tell you that these days it is not as easy to decide to buy as it was during the boom years. Sure you might be able to get a mortgage payment cheaper than rent, your interest payments may be tax deductible [see cpa for clarification] and of course it is always more fun to own than rent in my opinion. However, you need to look ahead and have a real estate professional calculate closing costs on selling a home in the area you will be. Let's say there might be a modest appreciation, how much money will it cost you to sell your home in 2 years. Here in WA we would have some escrow fees, title fees, 1.78% of the sales price paid to the state as an excise tax and then of course a real estate commission - which is totally negotiable but lets say 6% of the sales price. If your home doesn't appreciate are you going to be able to sell? Then again you might want to keep a home and use it as an investment since homes around a miltary base are pretty easy to rent out. Just do your homework and ask the hard questions to an agent and to yourself. Good Luck and thank you for being a family that is working for our country!
0 votes Thank Flag Link Sat Feb 19, 2011
Oh.. by the way... if you do decide you want to rent vs. buy... I have the perfect guy for you to call.. the guy has got to be the best rental agent I have EVER SEEN!

Patrick Casey
Keller Williams
210-663-6514

Jason
0 votes Thank Flag Link Sat Feb 19, 2011
Bibiana,

Every Agent on Earth will tell you that buying is the way to... Why? Because at the moment of this writing, we have one of the best "Buyer Markets" we have seen in a very long time. Prices are down, seller's are willing to be a lot more flexable on price, closing costs, fixing things, etc. Interest rates are at historical lows... Right now, you can buy a home for less money out of pocket with a lower payment, than you can rent one for!

on a VA Loan: Zero down, $500 earnest money, and between $25 to $100 for an option fee (the unrestricted right to cancel the contract during a period of time like 5 to 10 days, this is when you get your home inspection completed if you elect to get one) Payments for your price-range are usually a couple hundred less than what rent goes for for the same price-range.

To rent: You have first month's rent, and a deposit usually equal to one month's rent. $50 to $65 for an application fee (on each home you attempt to rent) and your rental payment is usually a couple hundred dollars more per month than what your payment would have been on a home loan.

To Rent: More out of pocket, and higher payments per month
to BUY: Less out of pocket, lower payments, and you are building equity in something! And, when it is time to move. now YOU RENT IT OUT and make a few hundred bucks per month or sell yoru home at a profit after a period of time.

Sometimes it is better to rent... but San Antonio is not the place where renting is better than buying.

Jason C Campbell
Realtor / Mortgage Loan Officer
Keller Williams Realty / PrimeLending
210-389-5266
jcampbell0674@yahoo.com
0 votes Thank Flag Link Sat Feb 19, 2011
It's hard to give you an honest answer on that question. Let's be realistic. Although I am confident that we are at a bottom in the market I could be wrong. If interest rates go up that could slow things down and there are so many other variables as well.

So with that being said I think it may be worth considering. If you rent you will be throwing away your money. If you buy and property values have declined you have paid the same or most likely more and plus you could have to bring money to closing to sell your home. That is course is the worst case scenario but it is a possibility.

In the first 2-5 years you hardly make a dent in your principal so you are actually not growing your equity very much unless your home and the market is appreciating. It's not as simple has been stated below. If the market does not appreciate and you need to sell don't for get about the commissions you need to pay. IE: your home will need to appreciate just about 6% just for you to break even.

So I can't really tell you which way would be best. Just be aware of the worst case scenario and have a plan if that is the case when you are ready to sell. With today's low interest rates you cold possibly rent the house for a number of years as well if values have continued to decline.

I like to shoot people straight so they can see all of the possible outcomes... the good and the bad. Good luck with your decision and thank you for your service to our country.


Don Groff
REALTOR | Mortgage Broker
Keller Williams Realty | 360 Lending Group
512.669.5599
listings@dongroff.com
0 votes Thank Flag Link Sat Feb 19, 2011
Purchase of course... if your rent is $1200 a month x 24 months, that's $28,800 you threw away and you will have nothing to show for it.

If you purchase, well, you will not make all those $28,800 in equity but in two years you might of made some equity in it from what you paid, plus your down payment (Being in the military you might not have to put a down payment, and only pay some closing costs if seller is not helping you with them, but if you rent, you will need at least $2400 for first month's rent and deposit) and hopefully appreciation and several tax advantages you earn by owning a home (Check with a CPA about those) and if you decide to stay in San Antonio in the same home or get a different one or move to another city, you will have made an investment for your future and why think of selling it? Rent it and now you have increased your worth.

Now the figures I gave you are only for a $1200 a month rent, if you pay $1500 that is $36000 you threw away or made in equity.

If I were you, I would not buy a pre-owned home and instead take advantage of the incentives new home builders are offering but ALWAYS hire a Realtor. We know our market, we know what we are doing and we WILL help you and save you time and money searching for a home and negotiating on a new or pre-owned one.

I am ready when you are.

German Perez
Keller Williams Realty
210.392.4682
0 votes Thank Flag Link Sat Feb 19, 2011
Hi Bibiana!

What a great question to pose to Trulia, but really one that you and your family can only answer for yourselves. Buying a home is a big step for anyone and buying here in San Antonio can be a great move as these are great times for buyers in the market right now with low interest rates and the amount of inventory available to you. However, there are lots of questions you will need to ask yourself first.

Are you ready for the responsibility of home ownership and what are your benefits? There are LOTS by the way :)! When you buy, are you looking to buy for a long term investment or are you going to try to sell the home in the event you have to PCS in a couple of years? Are you financially ready? There are costs associated with buying a home, even with the many benefits of being in the military and how the military can assist you in being a homeowner.

Those are just a few questions to ask yourself. I spent 21 years in the Army and I can honestly say that when I was able, I always bought. To me, spending my money on homeownership always seemed like the best investment for me. However, each person, family and situation is different and your situation will be unique to you and your family.

If you would like, please contact me and I can see if we can get you started on your journey and see if we can't answer some of these questions for you. As you can imagine, I have worked extensively with military home buyers as for some weird reason I tend to connect with them :).

Brenda Mullen
Realtor(r), ABR(r), e-Pro
Smart Moves Realty
210--807-0819
brenda.mullen@sbcglobal.net
0 votes Thank Flag Link Sat Feb 19, 2011
Bibiana,

As a retired military veteran I've been in your situation a number of times. If you know you are definitely only going to be here two years max then you should weigh the pro's and con's of how much the out of pocket expense will be for each scenario. I hope you have a smooth relocation to San Antonio, we PCS'd here and never left! :)
Web Reference: http://www.fabailey.com
0 votes Thank Flag Link Sat Feb 19, 2011
I think you might be better off renting but if your feeling the buying urge then get with a mortgage company and be prequalified (if your a member of USAA and/or PenFed) they can help. If you decide to rent, then a quick five minute phone call to me will assess what your needs are and we can get home places set up to look over.
0 votes Thank Flag Link Sat Feb 19, 2011
Wow ... be great HOWEVER with military 2 years is such a short time own a home based on expense to purchase then sell home again.

I would recommend confer with CPA determine your tax advantages EACH year you own a home you receive tax write offs HOWEVER 2 years is a short time.

THANK YOU for serving our country keeping us safe.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Feb 19, 2011
Are you willing to put a little sweat equity into a house? If so, buying may be your best bet to make sure you are able to sell in a couple years and make some money, so you're not just throwing it away on rent. You should definitely work with an agent who has experience in finding these types of properties (like me!)

I would love to work with you Bibiana and just have the opportunity to talk with you about all that I can do for you.

If you would like more information on a certain area of town by zip code, I'd be happy to send you a FREE Community Report by Zip Code - just click: http://justinwerner.com/free_community_report_by_zip_code and fill in the zip code(s) you are considering.

And check out http://justinwerner.com/save_33000 to see what some of my past clients have said about working with me - they can tell you much better than I can how it is to work with me and I am very humbled by many of their comments.

I look forward to hearing from you Bibiana!

Sincerely,
Justin Werner, CRS, ABR, CDPE
Certified Residential Specialist
Accredited Buyer Representative
Certified Distressed Property Expert
RE/MAX Exclusive
210-367-4757
http://www.AlamoCityHomeInfo.com
http://www.JustinWerner.com
http://www.StopAlamoCityForeclosure.com
0 votes Thank Flag Link Sat Feb 19, 2011
It really depends on the neighborhood you select. I just sold a home to a couple with the DOD who will be working near Lackland. They will be here for 3 years and purchased a new home in Trophy Ridge, which is a very
desirable neighborhood where resales have been very good!

I would love to visit with you.
0 votes Thank Flag Link Sat Feb 19, 2011
How about a straight answer: Yes you should buy a home!
With the rebate you receive from Half Priced Real Estate when buying, and the discount you will receive from Half Priced Real Estate when selling, you insulate yourself from the financial pitfalls of selling in two years.

Plus, I myself came here (San Antonio) for only two years, (USAF) that was 12 years ago, and I'm still here! http://www.halfpriced.com David Marne, Broker Half Priced Real Estate. (210) 281-1604
Web Reference: http://www.halfpriced.com
0 votes Thank Flag Link Sat Feb 19, 2011
I did some deeper investigation about San Antonio market rankings . This article posted by Relocate America website. Please read the entire article for more perspective.

According to Relocate America : "America’s Top 100 Places to Live for 2010. " Please read the article and see if he has more information to help.

Some of the highlights about San Antonio according to the Relocate America aticle include:

Top 10 Overall Cities: Top 10 Recovery Cities:

1. Huntsville, AL 1. Huntsville, AL
2. Washington, DC 2. Austin, TX
3. Austin, TX 3. Las Cruces, NM
4. San Diego, CA 4 Washington, DC
5. San Antonio, TX 5. San Antonio, TX

To be considered for the list, a community is nominated at RelocateAmerica.com. From the thousands of submissions, RelocateAmerica.com’s editorial team reviews the nominations and selects the Top 100 Places to Live, as well as the Top 10 for each smaller category, based on interviews with local leaders; feedback from residents; and economic, environmental, education, crime, employment and housing data for the past year.

I have included the direct link to listings as published by Relocate America.

"Be alert to give service. What counts a great deal in life is what we do for others." Anonymous

Michael Chalambaga
BROKER ASSOCIATE | Realtor
DeRiso & Haynes Realty - Texas

All information is provided "as is" with no guarantees or warranty. M. Chalambaga © 2011
0 votes Thank Flag Link Sat Feb 19, 2011
Bibiana O.
In addition to what's been mentioned, you should also check out http://www.usaa.com for your benefits as a military family
Web Reference: http://www.321property.com
0 votes Thank Flag Link Sat Feb 19, 2011
I did some investigation about what some local realtors are saying about the San Antonio market. This article posted by Matt Stigliano of RE/MAX Access on his real estate blog. He gives you another take on the San Antonio market. I hope this stimulates some answers for you and your family.

According to Matt: "It's a great time to buy! There's never been a better time to buy! Buy now!" Please read the article and see if he has more information to help.

Some of the highlights according to Matt Stigliano include:


Rent vs. Buy - With interest rates lower than normal, many people can afford to buy a home and not pay much of a difference in their payments between a rental and a home. With a home, you're building equity for your future. With a rental, you're paying someone else's mortgage.

Moving up - With a wide selection of homes available on the market, low interest rates, and your ability to get "more for your money," San Antonio real estate becomes more enticing to those seeking to move up to a larger home for their growing family.

Spring time - With Spring here, we expect to see home sales pick up as part of the natural cycle of real estate. People like to buy in the Spring and Summer seasons. Its a gorgeous time to be shopping for a home and people tend to more active during these months in order to take advantage of the beautiful San Antonio sunshine.

Market indicators - While I'm not here to say we're 100% on the road to recovery, there are some good signs that have been coming through in the last few weeks. My weekly analysis of San Antonio's real estate market indicates we are trending away from the low points of our local market.


PMI 2009 Market Risk Index - San Antonio has been listed as a "minimal" risk. This index is used by banks and investors to help determine statistical appreciation/depreciation potential in a given area.

New home builders - Builders also have a large inventory of brand new homes that they need to sell. With builders, they often can't get the capital to keep building if the pre-built homes aren't selling. Because of this, many builders are offering very compelling incentives (I've seen up to $31,000 in incentives on new construction), lowering prices, and offering upgrades at low/no cost.

I have included the direct link to the full article as published by Matt Stigliano.

"I think of a hero as someone who understands the degree of responsibility that comes with his freedom." Bob Dylan

Thanks for your service and an early Welcome to Texas!

Michael Chalambaga
BROKER ASSOCIATE | Realtor
DeRiso & Haynes Realty - Texas

All information is provided "as is" with no guarantees or warranty. M. Chalambaga © 2011
0 votes Thank Flag Link Sat Feb 19, 2011
Wow...there is no way anyone can answer that question for you. There are so many factors involved in that decision that no one here can guaranty they will give you the correct advice. What is your financial position? Do you want to buy with the idea of using your home as a rental when you are transferred to another area? What is the housing market going to do over the next two years? Will you be able to sell and get your money back out of the property or have to sell at a loss?

Buying a home has certain risks of investment that are involved that could result in financial gain or loss. Renting is a much more "safe" option in that you know pretty much what your are in for during your stay here in San Antonio. My advice is to discuss your personal situation with someone you can trust to give you honest advice, then make your decision based on your own personal situation.

I know I did not give you a definite buy or rent answer. If any of us knew what the future of real estate and the economy in general was to be, we would be millionaires instead of real estate agents/brokers.

GOOD LUCK IN YOUR MOVE AND GOD BLESS YOU FOR YOUR MILITARY SERVICE.
0 votes Thank Flag Link Sat Feb 19, 2011
I posted this answer as you might want to know about the emerging proposals by the current administration that will affect both buyers and sellers. I hope it begins a conversation about solving your housing questions.

Buy your House NOW! according to toSmart Money Magazine.

According to a just published article in Smart Money Magazine, Why You Should by That Home Now, sounds the opening cannon shot into what everyone is wondering about when wanting to buy or sell a home.

Consumers ask the following questions: Has the market stabilized ? Is it a good time to buy my home ? Should I wait and see what happens to the housing market? Is my local market affected ?

The Smart Money Article makes the following major predictions and observations:

Fanny and Freddie exit the scene
Government backed loans are shrinking in number and size
Smaller mortgage loan amounts
Higher fees for loans
Bigger down payments

Real Estate Professionals and Mortgage lenders struggle to lead in mixed currents and muddy waters. The short answer is who knows for sure.

I think back to many storm forecasters before modern prediction tools came to bear on stormy weather. I am no storm forecaster; however, our mothers taught us to carry an umbrella just in case ....

Exclusively for the Realtors: Is the Real Estate Sky Falling or what is your opinion of buying or selling now in San Antonio?

"Honesty is the best policy - when there is money in it." Mark Twain (1835 - 1910)


Michael Chalambaga
BROKER ASSOCIATE | Realtor
DeRiso & Haynes Realty - Texas

All information is provided "as is" with no guarantees or warranty. M. Chalambaga © 2011
0 votes Thank Flag Link Sat Feb 19, 2011
If you are new to the area and not sure which location would be best for you, and you are not sure of how long you will be living there, renting may be the route to take. At first maybe a short term rental until you familiarize yourself with the area.
0 votes Thank Flag Link Sat Feb 19, 2011
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