Realty Times Feature Article by Blanche Evans

Located in Texas' "Hill Country," San Antonio, the home of the famous Alamo, offers a rich blend of Mexican-American cultures, as well as a range of warm-weather lifestyles from retirement living to active business development.

"Our local real estate industry is receiving a great boost by low interest rates and very competitive mortgage financial fees," says Realtor Nelson Torres. "The increase in property value is providing extra income for home owners. They are taking advantage of low interest rates and higher equity on their homes and are selling and buying larger and more modern homes at a lower interest rate."

"First-time buyers are also taking advantage of the market conditions and are now able to qualify for higher loans and better finance conditions. Our communities are offering great alternatives to buyers and sellers. Great school districts, secure locations, lots of amenities and better community recreational facilities are making our communities a place of excellence," he continues.

Nearby ranch-like properties offer wide-open spaces with easy commutes from communities such as Cross Mountain Ranch, which offers two-acre lots for new home building.

"The subdivision of Cross Mountain Ranch offers quiet country living but is only twenty minutes from downtown San Antonio," says Realtor Ben Burroughs. "Prices range from $250,000 to $875,000 with wonderful views of the surrounding Hill Country. Many owners leave the majority of their lot 'Texas natural,' with native grasses, some cactus and native flowers."

Colonies North is a well-established neighborhood with prices ranging from $80,000 to $120,000, says Realtor Ken Brodeen.

"Colonies North has always held its value well," he says. "It is established, and ages of most homes range from 30 to 40 years. The price range of these homes are generally about $80,000 to $145,000, and sales so far this year are going strong! Consumer confidence is returning, and rates are now just under 7% for a 30 year fixed rate loan (as of April 23rd)."

According to Brodeen, 46 homes sold in Colonies North in the year 2001. The lowest priced home sold for $76,000, and the highest for $145,000. The average sold price was for $103,222, and the average days on the market was 48 days. As of the week ending April 20th, there are 2 homes for sale in Colonies North, and 9 homes have sold since January 1st of 2002. Average days on market were 38, and average sale price per square foot of living area was $64 per square foot. There are presently 8 homes that are under contract that will close soon. Four of these are in an "option period."

Brodeen adds, "The recession is now a dim memory for most people, and market activity is brisk. It is now fair to say that the market is great for both buyers and sellers, but I'm calling the market more of a sellers' market at present. It's going to be a great year!"

And there's a good reason.

"San Antonio is one of the Southwest's most premier cities," explains Realtor John H. Thurman. "San Antonio has become one of the Southwest's most sought after cities. Our community is growing rapidly because of the overall quality of life an individual can expect here. Employers enjoy an economic climate conducive to doing business. Housing is competitively priced. Education amenities are available for just about any need. Our medical facilities include state-of-the-art research institutions, medical and dental schools, and hospitals for most every need."

Blanche Evans is the publisher of Agent News and the associate editor of Realty Times, the Internet's largest independent real estate news service. She is the author of two best-selling real estate books: The Hottest e-Careers In Real Estate, Real Estate Education Company, an Internet marketing primer for real estate professionals, and homesurfing.net: The Insider's Guide To Buying And Selling Your Home Using The Internet, Dearborn, a consumer homebuying and selling guide. In 2000, she was recognized by the editors of REALTOR(r) Magazines as one of the 25 Most Influential People In Real Estate.

Published: April 30, 2002

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