Market Conditions in 78253>Question Details

Toby, Home Buyer in San Antonio, TX

The median sales price for homes in ZIP code 78253 for Nov 12 to Jan 13 was $112,657. What accounts for the dramatic decline in home price?

Asked by Toby, San Antonio, TX Sat Feb 9, 2013

Does this mean that I can ask for a lower price? If so what is a good place to start offering on a cash purchase?

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5
Gregory Touchstone’s answer
Toby-

Many websites can have misleading or incorrect information. One has to consider many factors when determining the value of the home. Paying Cash is helpful because it eliminates many fees at the closing table so the seller likes that and sees they are saving money in that regard.

Plus this avoids the need for a bank appraiser to set the value so there is no need for further negotiation if the house is undervalued beneath the agreed selling price.

One makes your money on the purchase of the home because you cannot determine the market when you choose/need to sell.

Lastly, most of the websites do not show if there were any seller concessions involved in the sale of the home which is something else that is factored in.

I suggest you talk with several Realtors to discuss YOUR needs and see who you feel is experienced, informed and someone you can trust. We work for you and it is the seller / builder that pays for this service in nearly every case.

Very best regards

Gregory Touchstone
Keller Williams Realty
210-660-2834
1 vote Thank Flag Link Tue Feb 12, 2013
BEST ANSWER
Depending on what criteria you used to get that median, it may be the houses that have been foreclosures on that zip code in that time frame.They usually priced them low to begin with and don't take a whole lot less.

If you are not working with an agent I would love to help you find the perfect house for you.
0 votes Thank Flag Link Sat Feb 9, 2013
Couple of things...

#1 - I ran a Sold Analysis on the zip code of 78253 for the past 6 months. The actual median sales price for homes was $220,196 - This was base on ONLY Single Family Residential homes. There were 321 SOLD homes in the past 6 months in that zip code. I did not take into account any manufactured homes, condos, townhomes, or multi-family homes. The zip code is in MUCH better shape than some of the websites out there would lead you to believe.

#2 - Cash offers - I deal with a TON of cash only buyers... and I tell them all the same thing. Let's offer them something almost offensive to start with. For me, it's like the thrill of the hunt to see how much I can get them down. Cash makes that easy... especially if you are willing to close in a few days. Speed + Cash = Amazing Deal most of the time. I've turned in some serious low ball offers and kept a straight face! LOL!!!

Here are all the homes currently for sale in the 78253 Zip code that are $240K or LESS:

http://sabor.connectmls.com/listings.jsp?dcid=D57504345370E6…

If any of these grab you, give me a call, shoot me an e-mail, or send me a text message and I'd be happy to meet you out there to check them out.

Jason C Campbell
Platinum Top 50 Finalist
Option One Real Estate
210-389-5266
.
http://www.SAHomeExpert.com
2 votes Thank Flag Link Mon Feb 11, 2013
There's a lot more to consider. Too many websites have inaccurate or incomplete information.
0 votes Thank Flag Link Sat Feb 9, 2013
You really need to look at the specific neighborhood where the home is, rather than the generic zip code. I can help you do that if you're not already working with your own exclusive buyer's agent. Give me a call!

Sincerely,
Justin Werner, ABR, CRS, SFR
Accredited Buyer Representative
Certified Residential Specialist
Short Sale & Foreclosure Resource Certified
RE/MAX Exclusive
10000 San Pedro, Suite 110
San Antonio, TX 78216
210-367-4757 Cell

http://www.JustinWerner.com

Past Client Video Testimonials:
http://rem.ax/UnjL2O
Your Home Sold in 120 Days, GUARANTEED!
http://www.SellHomeIn120Days.com
Save at least $2,500 on your next home purchase, GUARANTEED!
http://www.Save2500Guaranteed.com
0 votes Thank Flag Link Sat Feb 9, 2013
I think you're right, the property that I was looking at was priced higher but neighborhood was good. I'm seeking investment property, with decent ROI, preferences are proximity to mil installations. ..So something that's easy to rent.
Flag Sun Feb 10, 2013
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