San Antonio Real Estate Stays Hot

Ask anyone in South Texas, and they can give you a dozen good reasons why San Antonio is a great place to live and work. From the warm weather, to the local culture and flavor, to the food and fun, the Texas Hill Country remains a perennial relocation favorite for people of all ages and situations. It doesn't hurt that the San Antonio area is commonly rated as one of the best places in the U.S. for business and job growth.

As if if that's not enough, those of you looking to purchase new homes in the San Antonio area now or in the near future may have a couple more reasons to act now:

Interest Rates Are at Historic Lows

It wasn't too long ago that we were discussing the possibility of rising interest rates; in the spirit of honesty, we can admit to being slightly hasty in our projection that rates could be going up. Fortunately for home buyers, average mortgage rates have continued to fall in 2010 and now stand at historic lows.

Moreover, while our earlier attempt at prognostication may have failed, some people seem to think the mortgage market may have nowhere to go but up. There are never any guarantees, but if you've been on the fence about buying a new home, this may be the best time to hop off and lock in a low interest rate; the worst thing about missing out on a lower mortgage rate is paying out more money over the course 30 years.

San Antonio Real Estate Prices Remain High

We know what you're thinking: If San Antonio real estate prices remain high, why wouldn't you wait until they drop to purchase? The simple answer is that they're probably not going to drop significantly anytime soon. San Antonio—and Texas in general, to some degree—managed to avoid many of the larger pains associated with the housing market troubles of the last couple of years, so the local landscape has remained healthy.

That's actually good news, for a couple of reasons. For one, while prices haven't dropped, they really didn't need to; San Antonio consistently ranks as one of the most-affordable housing markets in the U.S. You get a lot more bang for your buck in South Texas. Moreover, higher, consistent prices mean higher, consistent resale values, and that's something all homeowners love.

Thanks to those two factors—plus all the wonderful things this area is known for—it's easy to see why there's no better time to purchase a new home in San Antonio.

Tagged in : New Home   Mortgages