Home buyer tax credit
First time home buyers
Contact your tax professional or your local Realtor for details on how you can take advantage of this new incentive this year when purchasing a home.
Krishna Perkins, Realtor
January market report for NE San Antonio
January Market report for NE San Antonio
This report reflects information about homes sold in the North East San Antonio area. Subdivisions included in this report are: Stonewood, Falcon Crest, Woodstone, North East Park, Spring Creek Forest, Pepperidge, El Chaparral, Monterrey Village, El Dorado NE, Town Lake, Raintree and Forest Oaks. Zip codes included are; 78233, 78217, 78247. The details of this report are based on information pulled from the San Antonio MLS and are considered to be reliable.
Total homes sold: 25 homes sold in January vs 57 homes sold in December. Keep in mind January is historicaly an extreamly slow month for real estate.
Average days on market: In January for homes sold was 69 day vs 91 days in December. A bright spot to look at considering the drop in over all number of homes sold. The high for days on market in January was 166 days vs a high of 264 days in December.
Average price per sq foot: In January the average price per/sq foot droped from $65.89 to $58.40 . The high for January was $83.27 vs a high of $91.39 in December.
Avg sq footage per home sold: In January the avg was 1912 sq feet per home sold vs 1762 sq feet per home sold in December.
Remember real estate markets are local and not all national trends apply to your area. Have you asked a Realtor about your maket?
To obtain a free, no obligation report on your home in San Antonio e-mail me or call:
210-260-6617
Krishna Perkins ABR, NHS
Buying a forclosure
Well, today is the worst day of a home owners life here in Bexar County. This morning at the court house steps there will be a record number of San Antonio homes sold to the highest bidder every first Tuesday of the month. Some homes are sold due to unpaid property tax, mortgage and HOA dues. This is an unfortunate end many home owners will face during this economic down turn. For those of you brave enough to buy a foreclosure be prepared for some competition and lots of research before you bid.
First you will need to register with the tax office in Bexar County if you plan on buying a Tax foreclosure. This can take some time so get down there a few weeks early. The fee is only about $10- $20. They will prepare a certificate for you as proof you do not owe taxes on any property in the county. It’s good for about 3 months.
Second you will want to gather as much information about the properties being sold at the auction. Properties to be sold will be posted at the steps of the court house. You can also view the documents online about two weeks before the auction. You will want to have the title examined to make sure there are not an liens that can not be wiped out by the auction. A title company can do this for you or you can go directly to the court house and as for the records. Any liens that can not be wiped out will have to be paid by the highest bidder so be careful.
Next make sure the property is still standing. Many times a property may be schedule to be torn down by the city for code violations. Yes! And they still try and sell it to you. It’s your responsibility to know the property condition. It’s not easy either. Many times people are still living in the home so don’t go knocking on the door.
Finally make sure you have cash for your purchase. These foreclosures sold on the steps of the court house are cash only. You don’t have to carry actual cash. You can bring a cashiers check. No loan approvals etc. You have to finish the transaction that day.
Good luck!
