An article in Forbes by Joshua Zumbrun (on 06.10.09) titled “THE BEST and WORST CITIES for RECESSION RECOVERY”( http://www.forbes.com/2009/06/09/recession-economy-cities-business-beltway-recovery-cities.html ) indicated that many cities in Texas are positioned for a speedy recovery. Mr. Zunbrum specifically mentions Austin, San Antonio, Dallas, and McAllen. His analysis is based on multiple factors which are cited in the article. The reality is that we have not been affected here in Texas like other parts of the country. With that said, we still have felt the impact of a slower housing market.

What is interesting is how various areas and price points are affected in different ways. Just as California, Florida, and other parts of the country have been hit worse than Texas, areas and price points within the cities are impacted differently. For example, in San Antonio, homes priced under $200,000 are selling much faster than homes priced over that. As the price goes up, the time on the market increases accordingly. If you are in more rural areas, you have the issues of gas prices and commute times. A buyer’s market is typically determined by the inventory levels. If you have an inventory of 7 months or more, you have a buyer’s market. So, to be specific here in San Antonio, we have a buyer’s market above $300,000. We tend to be in a seller’s market under $200,000, and a balanced market in between the $200 to $300k range.

Buyers and sellers need to understand the market as it affects them. Too many times, they are fed the generalities of the market and not the specifics as it should be. For anyone needing a detailed market analysis, we are available.

By the way, at our last OPEN HOUSE, three open houses actually, we gave away a $25 gift card and the winner was Thea Platz. Congrats!