Ultraclassic, Other/Just Looking in Floresville, TX

How will the Eagle Ford Shale affect prices for homes in Floresville?

Asked by Ultraclassic, Floresville, TX Sun Nov 6, 2011

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Floresville is in a prime location for the people coming to work. Most are looking at their spouses working in San Antonio and they are working in the Kenedy / Karnes City area so it is a split commute for the family. Floresville schools are great and that is a consideration. Most are not considering La Vernia as they think the commute to Kenedy is too far but Stockdale is another great area as the commute from there is good. The main thing we are seeing right now is the demand for rentals. Some are buying after they see the lack of rental housing but first they have to qualify for the loan. People are pricing somewhat higher than market. The last year has seen 22% of the listings expire without being sold. The average 3 bedrooms is selling for 92% of asking price with 26% expiring without being sold (based upon SABOR data) for Wilson County (this includes mobiles also) taking an average of 170 days to sell. A year prior the same homes were selling at 97% of sales price but that average price was about $7k less so values have gone up some but less were expiring.
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0 votes Thank Flag Link Mon Nov 7, 2011
It all depends on the price of gas. High prices mean demand for services and employment, which typically supports higher rents and higher sales prices, and more construction activity. Low prices mean less activity and corresponding lower demand for housing.

So pick where you think gas prices are going and bet on that.
0 votes Thank Flag Link Mon Nov 7, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Hard to say. If the discovery brings lots of jobs to the area then housing will appreciate due to supply and demand.
0 votes Thank Flag Link Sun Nov 6, 2011
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