KENDALL COUNTY REAL ESTATE SALES SHOWING IMPROVEMENT – JAN-APR (2007-2011)
May 11th, 2011 categories: About the Local Market, Assessing the Local Market
Residential Real Estate Sales for the first 4 months of 2011 improved slightly over last year. 84 Sales vs. 81 last year. Also showing improvement was average sales price which increased from $314,055 to $319,152.
2007 was the height of the market. The market is currently down about 40% from that point. Sales are taking more than twice the time to sell and are selling at a deeper discount from original list price than that time period.
Thankfully, the sales curve is finally on an upswing. We have noticed that the number of distressed properties are decreasing. Inventory, however, is increasing daily.
It will be interesting to see how this year plays out … whether sales will grow stronger and eat up the inventory or whether inventory will not be absorbed and a “glut” by year end will create more distress situations. We remain optimistic … but are ever watching the market to stay abreast of the situation. For all of your real estate needs, give us a call.
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JANUARY TO SEPTEMBER SALES UP IN COMFORT, TEXAS
September 14th, 2010 categories: About the Local Market, Assessing the Local Market
Increases in sales of Farm and Ranch and Lots/Acreage provided the stimulus for total real estate sales increases in Comfort, Texas so far this year. Looks like hill country land is coming back in vogue again!
On the other hand, residential sales are down so far this year. As I quickly look through the residential sales so far in 2010 (14 so far compared to 16 last year during the same time period), I am reminded that many of them were at deep discounts from original list price. The average list price to sales price ratio was 88.4%
As for the outlook for THE ENTIRE HILL COUNTRY for the balance of the year, here are some things to consider:
Tax rates are set to increase next year. Current land owners: This year may be an opportune time to realize gains on real estate at lower tax rates.
There is currently a “glut” of residential properties on the market. Since there is so much competition, homes that are “average” just aren’t selling. Prices are being reduced time and time again in order to get market attention. As such, we believe that by end of year there will be some great “buys” on homes that need a little TLC.
We’d love to serve you whatever your real estate needs are. We work from Leon Springs to Mountain Home, Bandera to Johnson City. Give us a call!
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SLIGHT INCREASE IN REAL ESTATE SALES IN KERR COUNTY FOR FIRST 5 MONTHS OF THE YEAR
June 4th, 2010 categories: About the Local Market, Assessing the Local Market
So far this year, Real Estate sales in Kerr County are slightly up from last year; however, way down from 2008. Total sales in Kerr County for January to May 2010 totaled $33.8 Million. There were 186 sales.
The average home price in 2008 was $220,921; in 2009, it was $223,123, and in 2010, it was $199,996. Those figures, in our opinion, represent what we have been seeing happen. In 2008, sales were still strong and prices were at their height. In 2009, sales were off, but prices were not coming down like one would expect. During 2010, prices are definitely lower. We have been telling our clients that prices are down by about 10%. These figures substantiate that information.
We feel like it is a really good time to buy. Prices are down and interest rates are still low. If you have been sitting on the sidelines waiting for the right time, now is the time to jump in! Give us a call. We’d love to help you find what YOU are looking for.
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KERRVILLE REAL ESTATE SALES DOWN FOR 2009
January 6th, 2010 categories: About the Local Market, Assessing the Local Market
Not surprisingly, real estates sales were down in the Kerrville area during 2009. There were 442 sales in 2009 totalling $80.013 Million as compared with 512 totalling $99.687 Million in 2008. Average days on market increased from 174 days in 2008 to 188 in 2009 and Average List/Sold Price declined from 94.33% in 2008 to 92.33% in 2009. Overall, the market was down 20% for the year … No surprise given the economic slowdown last year.
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COMFORT, TEXAS – 2009 REAL ESTATE FIGURES SOUND GOOD???
January 5th, 2010 categories: About the Local Market, Assessing the Local Market
Believe it or not … Real estates sales in Comfort, Texas were actually up for the year! Two categories – Residential and Farm/Ranch were up. Two categories – Acreage/Lots and Commercial were down.
In a small market, a few sales can make a real difference. In the residential market, the average price per item sold increased 42% from $247,833 to $352,887. What that means is that not only were there 2 more sales in 2009 (20 vs. 18) but the properties that sold were considerably more expensive. That is not due to price increases but instead, the properties that sold were higher end. That continues the trend in this area during the economic downturn. It is the higher priced properties that have continued to sell. 7 of the 20 residential properties that sold were $500,000 and up. In the Farm/Ranch category, one ranch sale (at $1,530,329) accounted for the lion’s share of the increase.
What does this mean about the market? An improving market is at work. Our observations are:
- Sellers have realized that they need to be more realistic in their pricing.
- People’s perception about the economy is improving.
- Expectations of inflation makes real estate a “safe” investment.
We do our best to provide you with the best information available so that you can make an informed decision whether you are a buyer or seller.
We strive to help our sellers price their properties competitively so that they get SOLD. In the current market, that is especially important so we can really HELP you!
If you are a buyer, we are currently aware of several “real buys.” Call for more information.
Each person’s scenario is unique. We’d love to help you with yours.
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Home Buyer Tax Credit Extended – NAR Article
November 18th, 2009 categories: About the Local Market, Real Estate Resourcing
Here’s an article from the National Association of Realtors:
The Basics: Extended Home Buyer Tax Credit 2009/2010
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
- Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
- Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.
Latest news:
Home Buyer Tax Credit Has Added Benefits for Armed Services Members, Others (Nov.11)
Tax Credit Extension a Positive Step Toward Real Estate Recovery (Nov.5)
President’s Podcast: Tax Credit Extended (Nov. 5)
Who Qualifies for the Extended Credit?
- First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
- Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer’s Credit Amount Determined?
Each home buyer’s tax credit is determined by tow additional factors:
- The price of the home.
- The buyer’s income.
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
For more information and to see the full article, click Here
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BIG RANCH SALE CAUSES COMFORT SALES TO RISE IN OCTOBER
November 6th, 2009 categories: About the Local Market, Assessing the Local Market
Real estate sales in Comfort, Texas totalled $1,622,329 due to the sale of a 158 Acre Ranch just outside of Comfort on Mill Dam Road. That compares with $325,000 in October, 2008 and $424,000 in October, 2007.
There are some nice properties in the Comfort area that have been on the market for a while. We feel like there are some good deals to be had in the Hill Country. We’d like to visit with you about them. Give us a call at 830-995-2511.
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REAL ESTATES SALES IN COMFORT, TX STILL LAGGING IN JUNE & JULY
August 3rd, 2009 categories: About the Local Market, Assessing the Local Market
There were 4 residential sales in the Comfort ISD totaling just under $1.2 Million during the month of July selling at 94% of List Price. Inventory has been surprisingly low this Summer … so sales are down.
However, during the last several weeks we’ve seen a number of new properties come on the market. Be sure and check our MLS Search engine to find out about those properties.
One recent buyer client told us that we provided them with the BEST experience that they EVER had with a real estate agent! Our goal is to EXCEED YOUR EXPECTATIONS WITH ABOVE & BEYOND SERVICE!
Our offices are located in Comfort but we sell from San Antonio to Kerrville, from Bandera to Fredericksburg. Give us a call. We’d love to help! 830-995-2511.
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KERR COUNTY REAL ESTATES SALES – SUMMER SO FAR ABOUT EQUAL TO LAST
August 3rd, 2009 categories: About the Local Market, Assessing the Local Market
Real Estate Sales in Kerr County during the month of July slowed a bit. Sales amounted to $11.1 Million as compared with $13.5 Million a year earlier, down from June’s increase.
It would seem that the Kerr County market is continuing to adapt to the changing, slower market as we take a closer look at other available data. List/Sales Price decreased from 95% in July, 2008 to 93% in July, 2009 meaning that buyers are still getting better deals, overall. Inventory, which as been very high (there were 1121 Active listings as of July 31, 2009 as compared with 923 a year earlier) is finally seeing some improvement. Days on market, a number that tells us how long it takes an average property to sell, decreased from 168 in July, 2008 to 152 in July, 2009.
Our Motto is “Connecting Buyers & Sellers for a Win/Win Result”. We work hard to bring YOU the results you want! Ask us , we’ll tell you how! We can be reached at 830-995-2511.
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Numbers Aren’t Yet Reflecting Increased Market Activity in Comfort, Texas
June 2nd, 2009 categories: About the Local Market, Assessing the Local Market
I was surprised to discover that the increased market activity that we have been seeing in the area has not yet turned into actual sales (at least for Comfort). For the months of April and May, there were NO sales (as compared to 2 the preceding year totalling $962,264). Here’s where we are for the year:
I guess the surprise is due to the increased number of properties under contract (5 currently). It is likely that next month’s figures will be much better. Also, there are several Comfort properties listed only in the Kerrville MLS. None have sold to my knowledge; however, at least one is under contract.
The other interesting piece of data that I found for Comfort:
There are 202 Units of Real Estate currently on the market with a total market value (e.g., list price) of $73 Million.
Pretty significant for a little community of just over 5,000, huh?
If you’d like to add to or substract from that number, we’d love to help you! We’re your source for real estate & community information for Comfort and the surrounding area! Give us a call 830-995-2511.
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