Market Conditions in 78240>Question Details

Rgonz21, Other/Just Looking in 78240

whats the apprecation rate for the 78240 area

Asked by Rgonz21, 78240 Sun Aug 7, 2011

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Single Family Home Sales in 78240 have actually depreciated over the last 3 years an average -4.788% each year.

Avg Sale Prices Feb-Aug 2008 = $150,723
Avg Sale Prices Feb-Aug 2011 = $129,073

There really hasn't been a better time to buy and get a great deal than right now, especially with interest rates still at all time lows. Home prices will rise again. If you are ready to make a smart decision and buy now, call me today!

Sincerely,
Justin Werner, CRS, ABR, CDPE
Certified Residential Specialist
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Certified Distressed Property Expert
RE/MAX Exclusive
210-367-4757
http://www.AlamoCityHomeInfo.com
http://www.JustinWerner.com

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1 vote Thank Flag Link Sun Aug 7, 2011
The bottom line is: Your house is worth what someone is willing to pay and close on.
0 votes Thank Flag Link Thu Mar 20, 2014
I live in 78240 and the truth is that some subdivisions are doing very well and appreciating and others the opposite.

I agree that if you look at quarterly behavior for the entire zip code you get a drop in the last 6 months. sales from 2 years ago are simply not relevant. Seeing a trend is nice but does not help establish value. So when establishing market value I only look at 6 month SOLD numbers.

When you get specific you can find very different results. Pembroke on the rise, Apple Creek on the decline, for example. So the best thing to do is to get as local as popssible and crunch the numbers.
0 votes Thank Flag Link Fri Jan 20, 2012
Uh......I guess in other words, right now there is no appreciation rate, lol.
Depreciation rate on the other hand is very much in existance.
So...you all are saying buy, buy, buy!!!

I would think you might say instead caution, caution, caution!

Just sayin'
0 votes Thank Flag Link Tue Aug 9, 2011
Not to be picky Jason, but you ran the numbers based on 1 full year's worth of sales (except for this year's numbers), whereas I ran them for 6 months of sales 3 years ago vs the last 6 months to today (actually up to 2 days ago when I answered). Either way, we both agree prices have dropped and it's a great time to buy!!!
0 votes Thank Flag Link Tue Aug 9, 2011
Actually… I am going to have to disagree with those numbers.
In looking at the actual market statistics for the zip code of 78240.. The numbers really look more like this:

Jan 1, 2009 – 12/31/2009 - Average Sales Price was $146,100 – 443 Homes Sold (Single Family Detached)

Jan 1, 2010 – 12/31/2010 – Average Sales Price was $144,247 – 372 Homes Sold (Single Family Detached)

Jan 1, 2011 – 8/9/2011 – Average Sales Price is currently $135,030 – 217 homes sold year to date (Single Family Detached

So.. From 2009 to 2010 – We saw a 1.268% drop in value
From 2010 to 2011 – We are seeing a 6.3897% drop in value (A nice average price drop of $8628.01)

We have also seen interest rates drop to historical lows. The average days on the market for a home went from 101 days in 2009 to 112 days on the market now. Homes are selling just as fast, but now at a lower price.

I think this is because the buyer market, as a whole have recognized that now is the time to buy… Those who wait for the market to recover will lose on average of $8600 give or take just for waiting.. and if interest rates recover, this will equate to 10s of thousands of dollars over the life of the loan, just for “Holding off” - Not a good time to wait.. Buy when the market is down… not when things look great!

Hope this info helps for whatever purpose you needed it for. If you need anything else… don’t hesitate to shoot me an e-mail.

Jason C Campbell
Realtor / Mortgage Loan Officer
Keller Williams Realty
210-389-5266
Jcampbell0674@yahoo.com
Web Reference: http://www.SAHomeExpert.com
0 votes Thank Flag Link Tue Aug 9, 2011
What Jerry is trying to say is:
If you are buying a HOME, your first concern is the rightness of that house as a HOME!

If you are buying an investment, the combination of the Prices and the Interest Rates has never been better.

If you bought now, your beginning appreciation rate will be ZERO.
0 votes Thank Flag Link Sun Aug 7, 2011
Your home's value and the things that play the biggest role in its appreciation depend on the local economy and housing market for the particular neighborhood you are looking to buy or sell in. An experienced Realtor will be able to help you decide whether now is the right time for you to buy or sell. Visit my web site for a free home evaluation or for more information about buying or selling your home.

Here are some of the factor's to consider when considering how well a property may appreciate.

Location in a community - Being close to schools, work and amenities like shopping, restaurants and entertainment is important to many families and will greatly influence home values. So when it comes to keeping their value, these communities usually appreciate much more reliably than areas lacking key features.

Recent home sales - You should receive facts and figures on the recent real estate sales in the neighborhoods that you'd like to live in from your agent. You'll want to learn figures like time on market and listing price versus selling price.

History of appreciation - In the last 5 to 10 years, have home prices increased or decreased? Does location or affordability affect how desirable the community is thought of as?

Local economy - Is there a nice mixture of jobs in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local companies hiring? All these play a role.
Web Reference: http://jayloproperties.com
0 votes Thank Flag Link Sun Aug 7, 2011
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