Many people dream of buying their first home or trading up to a new home that will better suit their changing needs. However, as the market begins to climb out of one of the most challenging economic downturns in recent history, the current state of the real estate market may be in question in many peoples’ minds. Is it the right time to make a move?
In April, two giants in the real estate market announced interesting survey results. Fannie Mae found that two-thirds of Americans (65 percent) are still bullish on homeownership, preferring to own a home despite the challenging economic environment and the housing downturn. Additional research conducted by Century 21 Real Estate LLC provides further insight.
CENTURY 21® First-Time Home Buyers and Sellers survey captured and compared the opinions of prospective home buyers and sellers who either purchased or sold their first home within the past year or are planning to buy or sell their first home within the next year. The majority of survey respondents had moved or intended to move more than 10 miles but less than 50 miles from their previous location, indicating current market conditions may be a catalyst for buying or selling homes, as opposed to a desire to dramatically change geographic location or relocate for a job.
“Buying a home, whether it’s your first or subsequent purchase, is the single greatest financial decision that most people will make in their lifetime,” counsels Rick Davidson, president and chief executive officer, Century 21 Real Estate LLC. “And, our research indicates that today’s market presents a generational opportunity for home buyers and current home owners looking to leverage their market position.”
Current Market Conditions
More than 80 percent of first-time home buyers and sellers feel the current housing market is more affordable today than this time last year. This is despite the fact that 40 percent of all respondents are more worried about the economy now compared to this time last year. Federal tax credits and solid mortgage rates have had a positive impact on driving people to take action.
A full market recovery takes time and current conditions continue to favor buyers. While buyers are excited about the opportunities in the current market, sellers note their main concern is losing money on the sale of their home and receiving offers near their asking price.
When will the balance between housing need and inventory return? The real estate industry typically considers six months of inventory to represent a balanced market. According to the National Association of REALTORS® the number of homes for sale currently represents approximately eight months of inventory and has decreased 21.7 percent below the record of 4.58 million homes for sale in July 2008*. First-time home buyers anticipate home prices will soon begin to rise and in fact, about half of first-time buyers (48 percent) expect an increase by this time next year, thereby reestablishing better market equilibrium.
Let an Expert Help Guide You
Whether you are considering buying or selling a home, 60 percent of first-time home buyers do not feel they have a good handle on the real estate process. Given the complexity and opportunity of today’s real estate market, 85 percent of both first-time buyers and sellers feel that using a real estate professional is important. Allow an experienced professional to help guide you to the home that is right for you, at a price you can afford.
The market is recovering and providing a powerful opportunity to act. Take advantage of positive price points and low interest rates today.
For additional information about market conditions in Fredericksburg, contact E. Dwight Oestreich at (830) 997-9591 or email@example.com.
*National Association of Realtors Existing Home Sales Report, March 2010
Methodology – Century 21 Real Estate LLC First Time Home Buyers and Sellers Survey
MarketTools, Inc. conducted a quantitative survey on behalf of Century 21 Real Estate LLC with 708 prospective home buyers and sellers who either purchased or sold their first home within the past year or are planning to buy or sell their first home within the next year. The quantitative study yielded results from 353 first-time home buyers and 355 first-time home sellers in the form of an online survey fielded from March 12 to 16. The margin of error for this study is 3.7 percent.
About Century 21
© 2010 Century 21 Real Estate LLC. CENTURY 21® Is A Registered Trademark Licensed To Century 21 Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each CENTURY 21 Office is Independently Owned and Operated.
Many properties have dropped their prices! Check out these homes!
549 Smith Road, 5 bdrm, 3.5 bath, 3.86 acres $499,000.
101 Meusebach Creek Road, 3 bdrm, 2 bath, 7.06 acres $365,000.
1018 Avenue C, 3 bdrm, 3 bath $229,000
101 Crestwood, 3 bdrm, 3 bath $229,500
212 Skylark Drive, 2 bdrm, 1 bath $129,000.
Pari-mutuel Horse Racing this weekend
The horses are running with live racing and pari-mutuel wagering at the Gillespie County Fairground’s class three track located on Hwy 16 South in Fredericksburg this Saturday, July 3 and Sunday, July 4. For details, call 830-997-2359. For admission and a complete summer race schedule, visit www.gillespiefair.com .
Sauer-Beckmann Living History Farm this Sunday
Celebrate our nation’s birthday as our German settler families would have done in the early 1900s during Sauer-Beckmann Farm’s July 4th Celebration this Sunday, July 4, from 10:00 a.m. – 3:00 p.m. Take part in activities such as horseshoe and washer pitching, stick horse races, watermelon seed spitting, and other games. The farm is located at LBJ State Historical Park on Hwy 290 East near Stonewall, and there’s no charge to attend. For information, call 830-644-2252 or visit http://www.tpwd.state.tx.us/park/lbj .
Celebration in Luckenbach Texas on Sunday
Enjoy a day of remembrance, plenty of music, fun, beer and celebration during the July 4 Celebration in Luckenbach – 1:00-6:00 p.m. this Sunday, July 4. Performing throughout the day will be Walt and Tina Wilkins, The Mystiqueros, Jimmy Davis, Mike Blakely, Kevin Higgins and Barbara Malteze (of the Dust Devils), Brian Langlinais, Austin Mayse, Bill Worrell and Jason Eady! Luckenbach Texas is located minutes from Fredericksburg off Hwy 290 East on RR 1376. For more details about this free event and the rest of the weekend festivities, call 830-997-3224 or visit www.luckenbachtexas.com .
—Becker Vineyards’ Independence Day Chili Cook-off on Sunday
Benefiting the local Fredericksburg Habitat for Humanity, Becker Vineyards’ Chili Cook-off is a fun afternoon filled with appetizing chili, cold refreshments, live music, and of course, wine – this Sunday, July 4 at the winery located off Hwy 290 East near Stonewall. Festivities begin at noon and run until 6:00 p.m. The Public Chili Sampling fee is $5 for 10 samples and begins at Noon. The public can also vote their favorite chili for People’s Choice Award. Judging begins at 2:00 p.m. For information, call 830-644-2681 or visit www.beckervineyards.com .
By Tony Stevenson
The Dow was up 2.3% for the week–the first time in seven months that it has had back-to-back weekly gains of 2% or more. New Labor Department data, released on Friday, showed that improved unemployment is widespread. The jobless rate fell from April in 37 states. “The recovery has spread out,” was one statement by Steven Cochrane, an economist at Moody’s Analytics.
The U.S. has added nearly a million jobs since the recession in December 2009. Including some temporary jobs that will soon disappear. States with big manufacturing and natural resource sectors like Texas and Indiana have enjoyed a steady growth. All this was reported in the Wall Street Journal this past weekend.
One bit of evidence that the job market, though still weak, has bottomed out: No state showed a statistically decrease in unemployment over the month the article continued to state. Plus, “Confidence about leaving jobs shows improving economy”, was a headline by the Associated Press last week as well. More folks quit their jobs in the past three months than were laid off. This trend suggests the job market is improving. One sign of economic improvement is when more people start finding jobs. Another is when they feel confident enough to quit them the same article said. Texas, as a whole has an 8.3% unemployment rate. San Antonio-New Braunfels share 7.1%.
While Gillespie County has the lowest which I believe is still below 5%. Compared to the rest of the Nation, I would say we-San Antonio/Austin and the Texas Hill Country, are doing quite well. Travis Tullos, a Texas economist stated further in the S.A. Business Journal, ” I haven’t felt this good about the San Antonio economy ever”. Mr. Tullos expects that San Antonio can regain much, if not all, of the economic momentum it enjoyed prior to the economic crisis. Again, what happens in San Antonio/Austin can and does spill over into the Texas Hill Country.
Capital Farm Credit’s Fredericksburg, Kerrville and Mason offices recently awarded 10 area seniors with the $1000 Hill Country Regional Scholarship.
Lauren Lyssy and Sean Scott, Bandera High School; Ashley Skeels, Boerne High School; Heather Rode and Mollie Lastovica, Fredericksburg High School; Kyle Hosrton and Tana Radtke, Harper High School; Nolan Brown Ingram High School; Jessica Stapper, Junction High School and Jase Ball, Llano High School.
These are students planning to pursue a degree in an agricultural or educational realted field of study. Congratulations to these great students!
by Karen Oestreich
Just had another delicious lunch at Kelly’s Restaurant. Their special today was a Barbequed Peach chicken breast – very tasty. One of their waitresses, Lisa, is a bundle of energy with a smile, joke and friendly welcome as well. Becky is another waitress who enjoys people and it shows!
They serve lunch and dinner indoors or outside on their patio. Some of my favorites are their tuna salad, grilled salmon, panfried crabcakes and quesadillas…..with a different twist. They also have daily soup specials and a farm fresh salad that is colorful and tasty.
Kelly Rogers is the chef and owner of this delightful restaurant. They are a family friendly cafe offering handcrafted American food. I think you’ll enjoy it whenever you go!
Join the fun when Luckenbach Texas celebrates Waylon Jennings’ birthday on Sunday, June 20 beginning at 1:00 p.m. Entertainment will be by Brigitte London, WC Jameson, and Mary Cutrufello during the day; followed by featured entertainers The Waymores. Cost per ticket is $10 with proceeds going to benefit diabetes-related charities. Luckenbach is located on RR 1376, just off Hwy 290 E. For information, call 830-997-3224 or toll free 888-311-8990 or visit www.luckenbachtexas.com .
As part of its Saturday Family Fun, the Gillespie County Historical Society will host a special Children’s Tea Party for children age 4 to 10 and their parents and grandparents this Saturday, June 19 at the Pioneer Museum at 325 W. Main St. in Fredericksburg. Party times are 10:00 a.m. until 11:30 a.m. and 1:00 – 2:30 p.m. Cost is $10 per person and includes museum admission. For information and reservations, call 830-990-8441. To learn more about the museum visit www.pioneermuseum.net .
Celebrate the best peach crop in years during the annual Stonewall Peach JAMboree and Rodeo—Friday, June 18 and Saturday, June 19. Located just minutes east of Fredericksburg on Hwy 290, Stonewall offers two days of wholesome fun during this event. Activities include the crowning of the Peach Queen, a community parade at 10:00 a.m. on Saturday, and of course, the exciting nightly rodeo at 8:00 p.m. followed by a dance! Plus there will be great food and music!
In addition, the Sauer-Beckmann Living History Farm at the Lyndon B. Johnson State Park & Historic Site on Hwy 290 E. will have special events planned throughout the day in honor of the JAMboree.
For JAMboree details, including ticket pricing and dance headliners, call 830-644-2735, and for more about Sauer- Beckmann, call 830-644-2252. The Jamboree website is www.stonewalltexas.com .
Last Saturday I drove to Kerrville with my cousin, and as we drove into town we saw American flags lining the highway with people just standing around. We didn’t know what was all about – was it a parade or was it another young soldier who had lost their life fighting for our freedom?
As it happened it was a young Marine from Kerrville who had been killed in Afghanistan. A few hours later as we were leaving there were large crowds of people, young and old, holding flags, wearing red, white and blue solemnly standing along the roadside waiting for the funeral procession to drive by.
It reminded us of our own dear young men, Phillip Neel and Chris Staats who were killed while fighting in a country far away. It also reminded us of why our country is so great when people can show their patriotism and respect without fear of being tortured or jailed.
We take the freedoms we enjoy for granted and go about our everyday life not worrying about if there is a bomb on the road in front of us or if the person walking toward us is a suicide bomber.
On Memorial Day we remembered the ones who had fought and died so we could enjoy our family and friends. On Veterans Day we will thank the veterans who fought for our country – some who were never thanked for the time they spent away from their family to defend our freedoms.
Let’s never forget the sacrifices these men and women made as we enjoy summer activities with our family and friends.