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Tools and Guides • October 6, 2023

A Guide to Zoning Regulations, Laws & Ordinances

by BHGRE HomeCity

Zoning Laws in Texas

Austin, Dallas, and Houston, the three most recognizable cities in Texas, all a part of the “Proud Texan” heritage but after that, the similarities seem to end. You can search all day and find people arguing over which city you should live in, sometimes people even throw in San Antonio (technically the second largest city in Texas), but all over the internet, you’ll see the same old arguments for each city. HomeCity is unique in that we specialize in real estate for both Austin & Dallas, and while you may find some of us arguing the finer points of Cosmopolitan vs. Community the one thing we both seem to agree on is that Houston has completely forgotten is zoning. While Houston may have abandoned zoning almost completely, Austin and Dallas have taken two very unique paths when it comes to your land use rights.

Essentially Zoning is the way a city sets up its land-use directives while telling the owners of the land what they can and cannot establish regarding buildings, offices, or businesses. The small Texas town of West brought zoning into our minds in early 2013 when a fertilizer plant exploded less than 100 feet from a housing edition and middle school, a tragedy easily prevented by stricter zoning regulations. But how exactly does zoning affect our daily lives and how are the differences between Austin and Dallas affecting the residential growth of each city?

First, it’s important to start with the basics of zoning; both cities have departments within our government known as the Planning, Zoning and Development departments. Both cities (Dallas / Austin) offer surprisingly easy to navigate websites with links to helpful applications and FAQ’s that are well organized and almost complete. Each city takes their own convoluted way to help you navigate the intricacies that go along with zoning or rezoning any land you may own.

“Don’t get me wrong, the city of Dallas is making strides to implement more green development, but when it comes to getting the zoning permits, it can be hell,” said one Dallas City Hall employee who wished to remain nameless for this article. “It’s ridiculous really, you own this land, you want to put a community garden on it but after eight months of planning and waiting and filing paperwork, the city denies your permit and says you don’t meet zoning requirements, and it’s up to you to figure out why.”

If you plan to rezone your property in Dallas, the first thing you need to do is check the schedule. If this looks a little confusing, it’s because it absolutely is. You’ll also notice that the staff can just deny to accept you on the two days each month when you can submit for pretty much any reason “the complexity of the case, the staffing levels, etc.” The wait isn’t exactly easy either. Let’s say you submitted your paperwork on 6/13/16 and everything, absolutely everything, was in order; you won’t get your final decision until three months later and again this schedule can and does change depending on how many cases are in front of you.

Austin isn’t much better, the zoning and land use rights there are also a bit murky. Though they do not have the same stringent schedule or color coded bureaucracy, there is a very explanatory 19-page document that you can download to see that a decision will take around 4-7 weeks depending on case load. They do however assign you a case manager, or you can visit clerical staff Monday through Friday from 9 am to 12 pm (they do encourage you to make an appointment as well).

“Zoning is incredibly complex in the City of Austin. There are base zoning districts, zoning overlays, conditional zoning overlays, and conditional land uses that will regulate building setbacks, building heights, allowable uses, parking requirements, and impervious cover limits. On top of that, there are watershed regulations that can impose stricter rules related to impervious cover, cut and fill limits, and construction on slopes than the zoning regulations themselves. Often times regulations are in conflict,” said Will Schnier, Austin CEO of BIG RED DOG and engineering and consulting firm with offices in Austin, Dallas, Houston and San Antonio. “It is imperative to conduct a proper level of due diligence on the applicable building and zoning regulations for your project before committing significant resources and time to your project. Beware that a self-study of regulations online typically won’t be sufficient in the city limits. The City of Austin Development Assistance Center is a good place to start and is a free resource for citizens. More complex projects may need the opinion of a qualified and local civil engineer and even a land use attorney that is well versed in the city regulations.”

The cities have both tightened restrictions in the last few years but even so, it’s interesting to see the way that each has broken out their specific Permitted Use Charts. Austin’s seems to have an endless supply of titles where you fall under five main categories. Residential, Commercial (the largest), Industrial, Agricultural and finally Civic. Of all of these categories, it seems only two specific uses both fall under Agricultural into the ALWAYS permitted category, Urban Farms & Community Garden.

Dallas, on the other hand, has a much shorter list of categories with the most recent addition being mixed use, but still there are multiple restrictions and considerations even within the newly defined category. The Dallas list of permitted uses and zoning district standards is a bit more complete in that it has all of the requirements listed in just the basic two (2) page document. But even if you meet all of the requirements Dallas has listed be prepared to hear the words no often enough, as the city often takes into account traffic requirements, and these can be even harder to navigate as studies must be provided on your impact on current traffic.

Finally, when looking to rezone your property or just get it zoned by the city in the first place, you need to take into account the sheer cost. Dallas has a much higher and stricter code when it comes to filing, plus they take signage very seriously! Included in your basic packet is the Zoning Fee/Sign Schedule, which gives you some very specific provisions of what you need to do should you plan to change anything. Austin is less concerned about your signage and simply requires you pay them for the flat rates they’ve assigned. However, you need to make sure that you aren’t in one of the historic districts or preservation districts because that changes everything.

After reading this you may be wondering, what HomeCity suggests when it comes to zoning in either of our favorite Texas metros? While the websites may be helpful and provide an overwhelming amount of data, zoning laws are just that, overwhelming. If you plan any new projects or developments, we suggest speaking to some of the land use lawyers out there. Austin and Dallas may be very different cities, but when it comes to how their finite resources of land are used, you’ll find that both are tenacious in their regulations. While some might think these restrictions are violations of their rights, others are glad they’re in place to prevent deadly tragedies like the West, Texas plant explosion.

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Austin • October 6, 2023

The Austin, Texas Job Market: What You Can Expect Moving Here

by BHGRE HomeCity

Business is booming in the capital city. Austin has the fastest-growing US job market, according to the US Bureau of Labor and Statistics. It was also ranked the #2 hottest job market in the country for 2021 by the Wall Street Journal and #3 in the nation for job growth, according to the Austin Chamber of Commerce.

 

The list of companies opening locations in Austin is a veritable who’s-who of tech giants and the city is poised to continue its impressive growth. If you are interested in joining the masses relocating to Austin, here is a breakdown of the Austin job market and what you can expect.

Top Companies Moving to Austin

The Austin Chamber reported that 72 companies have relocated to the Austin MSA in 2021, creating nearly 7,800 new jobs. A further 87 companies expanded their Austin area operations, which created another 13,200 jobs to bolster the already stellar job market.

Previously, from 2016 to 2020, the Austin MSA saw the arrival of 236 new companies and the expansion of a further 325 companies, adding more than 74,000 new jobs to the market. Some of the top employers who have moved major operations to Austin in the last four years include Tesla, Amazon, Apple, Oracle Corporation, and Charles Schwab.

Tesla

Tech giant Tesla broke ground on its massive new Gigafactory in July of 2020, which is pledged to create 5,000 local jobs. CEO Elon Musk also announced in October 2021 that the company’s headquarters will be relocating from Palo Alto, California to Austin. It is unclear yet how many jobs this will create, but it will undoubtedly have a positive effect on the local job market.

Tesla Jobs in Austin

Amazon

Amazon opened its first Austin location in 2015, and is now one of the largest employers in the Austin MSA, with more than 11,000 employees. It has also indirectly created an estimated 27,000 local jobs, from construction to food services and healthcare.

The king of online retail, Amazon ranks fifth on the Austin Business Journal’s list of the largest private-sector job employers. The company plans further expansions in 2022, with a Pflugerville fulfillment center that will create another 1000 local jobs.

Amazon Jobs in Austin

Apple

Apple has had a presence in Austin for more than 25 years and currently has around 7,000 employees. In 2019, Apple broke ground on a new campus in Austin, part of which will be used to produce the new Mac Pro. The 3 million square foot site will initially provide 5,000 jobs but was designed with the capacity to expand to 15,000 jobs and is scheduled to open in 2022.

Apple Jobs in Austin

Oracle Corporation

Oracle, the second-largest software company in the world, opened its first corporate campus in Austin in 2018 and employs approximately 2,500 people. In 2020, Oracle announced it was moving its headquarters from Silicon Valley to the Capital City.

Oracle Jobs in Austin

Charles Schwab

Financial services industry leader Charles Schwab also opened its main Austin campus in 2018 and currently has around 2,750 employees. In September 2021, the company announced it will be expanding in Austin, which will create a further 450 local jobs.

Charles Schwab Jobs in Austin

What’s Fueling Austin’s Job Market?

Despite a worldwide pandemic and subsequent recession in 2020, Austin’s job market has remained remarkably strong and late 2021 reports show that the city has largely recovered from the economic downturn. The current unemployment rate for Austin sits at just 3.8%, much lower than the 5.3% national average.

Austin owes its job stability to a number of factors, including the astronomical growth the city has experienced in recent years, as well as the stable nature of its main industry sectors.

Steady Growth

Like flies to honey, tech companies and major corporations are finding Austin irresistible, and with good reason. Austin has a lot to offer, both economically and talent-wise.

The cost of doing business in Austin is far less than those of other major metropolitan areas on the West and East coasts. With no personal or corporate income tax and lower real estate and utility costs, businesses can count on lowering their overall overhead.

The lower cost of living and famous quality of life their employees will enjoy while living in Austin is also a factor. Labor costs in Austin are lower and employees are happier and more inclined to stay.

The Austin Business Journal reported that businesses relocating from California to Austin can save an average of 20% overall.

A Deep Talent Pool

Companies are also attracted to Austin to take advantage of its excellent talent pool. Austin, which ranked 12th in the world on the JLL Top 20 Talent Hot Spots list, is a great place to recruit young, educated employees, especially those in the tech sector.

 

The median age of Austin residents is just 33, and more than half of Austin’s population has a bachelor’s degree or higher. Austin’s tech talent labor pool, which grew more than 12% from 2013 to 2018, makes up around 7% of its total labor force.

Evergreen Industries

In addition to the soaring growth that the Austin market has seen, it is sustained by the evergreen nature of the industries that provide the majority of the city’s employment opportunities. These industry sectors were able to weather the recent economic storms because they provide vital services which are always in demand.

The sector that employs the greatest number of people is that of professional and business services, which encompasses technology, accounting, legal, advertising, and similar jobs. This is thanks in part to Austin’s wide array of tech companies.

Austin is the capital city of Texas, and the many government institutions that call it home provide 11% of local jobs, at city, county, state, and federal levels. It is also home to the University of Texas at Austin plus 26 other colleges and universities and a booming healthcare industry to support the rapid population growth.

Together, these three sectors account for nearly half of Austin’s total employment.

Data provided by The Texas Department of Labor and Statistics

Austin as a Tech Hub

Austin has had its own “Silicon Hills” since the 1980s, but the thriving city has recently hit its tech stride and some are now suggesting it could one day replace Silicon Valley as the home of America’s tech innovation. While Austin is still far from the output seen by Silicon Valley, its tech presence is undeniable. Some of the top tech companies that have campuses or headquarters in Austin include:

* Adobe

* Amazon

* Apple

* AT&T

* Dell

* Dropbox

* eBay

* Facebook

* Google

* Hewlett-Packard

* IBM

* Indeed

* Oracle

* PayPal

* Roku

* Samsung

* Tesla

In addition to the presence of tech juggernauts, Austin has also been the birthplace of a large number of tech startups, the most famous and successful of which is Dell. It was ranked the best place in America for starting a business and second best city in the US to start a small business.

Austin’s tech success can be traced back to three main factors; a history of innovation, a beneficial financial climate for businesses and employees, and a culture that values uniqueness and fresh thinking.

History of Innovation

Austin has a storied history as a home for tech innovation. Tracor (defense electronics) and IBM opened local facilities in the 1960s, soon followed by Texas Instruments and Motorola in the 1970s.

The 1980s saw another tech boom, with the opening of the Microelectronics and Computer Consortium (MCC), homegrown tech giant Dell, and others. Apple and Samsung have had a presence in the city since the 1990s.

Austin has also proved fertile ground to launch many tech start-ups and new platforms. Twitter, Foursquare, and Quora all made their big break at the world-famous South By Southwest Festival.

Financial Incentives

As discussed previously, the relatively low cost of doing business and lower cost of living have made Austin very attractive to both tech companies and the people they employ.

Of the 265 tech companies that have chosen to leave California, nearly half selected Texas as their new home, and most settled in the Austin area, thanks to its lower taxes and a less stringent regulatory climate.

Austin also boasts an average weekly pay that is 10% higher than the national average, helping it to attract even more young professionals to the tech talent pool that in turn entices even more tech companies to the area.

Culture

Most people know that Austin’s long-time motto has been “Keep Austin Weird,” and it’s that dedication to the quirky and avant-garde that makes Austin a perfect place for tech to thrive.

In a city that values innovation and creativity over stalwart tradition, fresh-thinkers can find plenty of support and willing participants. Austin even has an official “Innovation Office” designed to foster and encourage this environment throughout the city.

Top Growing Industries in Austin

With unchecked growth and evergreen industries, Austin has recouped all of the 2020 pandemic job losses and can now look to a future of more growth and prosperity. It ranks as the fourth best performing major job market over the last 12 months.

 

All of Austin’s private industries show a year-over-year percentage increase, with Leisure and Hospitality seeing the most increase at 22.4%, thanks to the lifting of social distancing mandates and the reopening of many of Austin’s world-famous music and entertainment venues.

Professional and business services, which includes tech and marketing jobs, came second at 11.4%. And, with forthcoming expansions by Apple, Tesla, Amazon, and Samsung, that number can only be expected to rise further.

Though numbers are looking good, a few industries, including Leisure and Hospitality and Education and Health Services, have not gotten back to the numbers they reported pre-pandemic. The market is expected to continue its upward trend though, and still has one of the best job markets in the country.

 

Data provided by The Texas Department of Labor and Statistics

The Job Market’s Impact on Real Estate

As the city grows by an estimated 168 people every day, Austin’s housing market is feeling the strain of meteoric growth. Record low housing inventory combined with record-high population increase has led to a housing shortage and ever-increasing property values.

The Austin Board of Realtors (ABOR) reports that the median sales price for homes in Austin-Round Rock MSA for September 2021 is $450,000, which is 28% higher than it was in September of 2020.

Further, the current market stats show that there is only 1.1 months of inventory available and the average days on market has shrunk by 22 days year-over-year to a speedy 17 days. By comparison, the Texas A&M real estate center states that a balanced market should have 6.5 months of inventory.

Due in part to the number of millennials who call Austin home and prefer renting over buying, the rental market has also seen a dramatic rise in prices. Rental prices have increased a staggering 93% over the last ten years.

But, despite the fact that both rental and sales prices are continuing to rise, Austin’s real estate prices still rank well below those on the coasts. As an example, housing prices in San Francisco are still 273.6% more than in Austin.

Considerations for Those Moving to Austin for Work

If you are moving to Austin for work, there are a few tips to help you make the most of your Lone Star experience.

* Get to know the city before you choose an area to call home. Each area has its own unique style and list of amenities. From easy access to lush parks to serene Hill Country settings to walking distance to live music venues, find one that fits your desired lifestyle.

* Consider moving outside the city to stretch your housing budget. There are some great communities around Austin, including Round Rock, Kyle, Pflugerville, Georgetown, Cedar Park and Hutto, where the housing prices are not as high as inside the city limits. These communities are charming and have easy access to all that Austin has to offer.

* Embrace the culture. Austin is a laid-back town that prides itself on being quirky and offbeat. While some of that shine has inevitably worn off with the massive influx of newcomers, Austinites still love to be a little out there.

Take it all in. Austin is made for exploring and offers a wealth of fun opportunities to its residents. The vibrant art scene, abundant outdoor spaces, and countless foodie venues are just begging to be experienced.

Whether you are relocating to Austin with your company, hoping to find new opportunities in the thriving job market, or just wanting to enjoy the famous Austin lifestyle, we would love to help you get settled.

Be sure to check out Living in Austin, Moving Tips and Local Secrets for more great tips on moving to Austin. To get started on your Austin home search, or talk to one of our real estate experts, visit us at homecity.com/austin.

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Austin • Dallas • October 6, 2023

Austin, Dallas and Houston Share the Top 10 Priciest ZIP Codes for Renters in Texas

by BHGRE HomeCity

Deep in the heart of Texas, the stars at night are big and bright. Unfortunately, Texas is also the place where rent prices are big and bright. How do we know this? No, not from a country song. RENTCafé created a top of the priciest ZIP codes for renters in Texas. According to the study, renters in Austin pay the most for an apartment, followed by those in Dallas and Houston.

Here’s how much rent costs in the top 10 most expensive ZIP codes in Texas:

 Most expensive zip codes in texas

 

 

The average rent in each of the 50 priciest ZIP codes in the state is above the national average, which hovers right above $1,300/month, but rent growth is slowing down. Compared to last year, rent rose in less than half of the 50 ZIP codes that were analyzed. As a matter of fact, prices fell in 23 ZIPs with 2 of them seeing two-digit drops. In 6 ZIP codes prices remained unchanged.

 

Austin is the Most Expensive

The two most expensive Texas ZIP codes are in Austin. At the top of the list is 78701 (Downtown) with an average rent of $2,475, followed closely by 78703 (mostly Tarrytown and Clarksville) with a monthly rent of $2,393. While 78705 (approximately Central Austin) only took the 4th place in the RENTCafé top, with a monthly price of $2,102, these three adjoining ZIP codes make up the most coveted area of Austin.

Renting an apartment here means shelling out more than twice the state’s average rent of $1,063. The two most expensive ZIP codes actually saw prices dipping by 3% and 5% year-over-year, respectively, whereas the cheaper ZIP of the three (78705) saw a 5% increase year-over-year. In total, 10 out of the 50 most expensive ZIP codes are located in Austin.

 

Dallas Gets the Silver

In 3rd, 5th and 7th places are apartments in Dallas, located in 75225 (roughly the University Park area), 75201 (mostly Downtown) and 75205 (Highland Park). Average prices in these ZIP codes are $2,188, $1,907, and $1,884 per month, respectively. ZIP code 75225, the priciest of the three, saw a price increase of 6% compared to last year, even though apartment inventory also rose by 6%. All in all, 10 of the top 50 spots belong to Dallas.

 

Houston Comes in Third

Houston is the third most expensive city in Texas with 77006 (parts of Montrose) in the 6th place commanding an average monthly rent of $1,889. The city also takes the 8th and 9th places with 77005 (parts of the West University Place), where rents average $1,859 and 77002 (Downtown area), where people pay $1,800 in monthly rent.

Now, prices may not be sky-high in Space City, but it certainly grabbed the most spots on the list, more precisely 15 from the 50 priciest Texas ZIP codes are in Houston. It also produced the two most spectacular price decreases of the 50 ZIPs. Average rent prices in 77005 dropped by 10% and in 77046 by an even higher 11%, compared to where they were last year.

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Dallas • October 6, 2023

Dallas Is One of the Worlds Richest Cities

by BHGRE HomeCity

WealthInsight released a study Tuesday of which cities the most billionaires, ultra-millionaires (individuals with over $30 million each) and millionaires call home. Coming in at number 17 with 11 billionaires was our Dallas.

Some other wealthy cities included London (at number three with 54 billionaires), Dubai (at number 18 with 11 billionaires), and New York City at number one with 70 billionaires. They had more billionaires living in the city than anywhere else in the world.

While Beverly Hills lures the Hollywood elite, the DFW area seems more prone to attract celebrities of the sports and business worlds. New York Yankee Mark Teixeria, PGA pro K.J. Choi and Tod Hamilton live in the suburb of Westlake, as well as former Exxon CEO Lee Raymond. Oh, how could I forget? One of the Jonas Brothers owns a massive property in Westlake (although I believe it’s on the market).

I can see why Dallas has attracted so many wealthy people, it has a class all its own.

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Austin • October 6, 2023

Should I Sell My House in Austin in 2023? We’ll Help You Decide

by BHGRE HomeCity

The skyrocketing mortgage rates significantly impacted the Austin real estate market in 2022. According to the Austin Board of Realtors, the median home price in Austin reached an all-time high of $667,000 in May 2022, representing an 18% increase YOY. However, increasing mortgage rates slowed down the growth of the market toward the end of 2022.

According to Bankrate, the average 30-year fixed mortgage rate in Austin increased from 2.63% in January 2021 to 6.39% in January 2023— a 143% increase. Despite a recent downward trend, high mortgage rates have made it difficult for some buyers to qualify for a mortgage or afford a higher monthly payment, which has resulted in a decrease in demand for homes.

As a result, sellers are now confused about whether it is the right time to sell their homes. Ready for some answers? Let’s see what the experts have to say.

Is Now The Right Time To Sell a House? Here’s What Experts Say

Determining whether to sell your house in Austin right now depends on your personal circumstances, such as your financial situation and plans for the future. However, looking at the current real estate market in Austin can provide some insights.

According to ABOR, as of February 2023, the average Austin home value is $450,000, the largest MOM price drop since July 2011.

Real estate experts in Austin have varying opinions on whether it is the right time to sell a house in the current market.

Some experts believe the market is still favorable to sellers due to the relatively low inventory and high demand for homes. Austin was one of the top ten hottest housing markets in the US in 2022.

However, by the end of the year, home values started slipping slightly, whereas active inventory started to climb.

At the same time, mortgage rates are still high and may continue to dampen demand and affect home prices. Austin experts advise sellers to be realistic with their pricing and to prepare their homes for sale to stand out in a more competitive market.

According to Ashley Jackson, ABOR’s 2023 president, “January’s data demonstrates the Austin-Round Rock MSA market is continuing to find a post-pandemic normal.” Compared to the previous month’s extremely competitive atmosphere, the market appears to be cooling.

However, this is still an extremely favorable market for sellers. “Housing affordability woes combined with higher interest rates play an outsized role in market activity,” continues Jackson.

“Consumers need to follow local REALTORS® and local news while taking sensational headlines and reports with many grains of salt.”

Real estate experts recommend that homeowners considering selling their homes should keep a close eye on the market conditions and work with a trusted real estate agent who has experience in the local market. They can provide personalized advice on whether it is a good time to sell, based on factors such as the condition and location of the property, the homeowner’s financial goals, and the current market conditions.

The Current Market Outlook for Sellers

Overall, the current housing market in Austin is favorable for sellers, with high demand and relatively low inventory leading to a competitive market and potentially higher selling prices. However, it is important to carefully discuss your personal circumstances and work with a trusted real estate professional to make informed decisions about selling your home.

Here are some of the factors that could impact the housing market for sellers.

Increasing Inventory

As of January 2023, the housing inventory in Austin was relatively low, with a 2.5-month supply. This is still considered a seller’s market, although compared to months past, the market has cooled significantly.

An increase in inventory can give buyers more bargaining power because it provides them with more options to choose from, which can lead to increased competition among sellers. When there are more homes for sale than buyers, sellers may be willing to lower their prices or negotiate on other terms to make their homes more attractive to potential buyers, which can benefit buyers looking for a good deal.

High Demand

Austin is consistently ranked as one of the fastest-growing cities in the United States, with a strong job market and a growing population. This has led to high demand for housing, with many buyers looking for homes in the area.

High Interest Rates

The average interest rate on a 30-year mortgage is higher than it has been in recent years, especially when compared to the historically low rates we saw in 2020. The current average rate for a 30-year fixed mortgage is 6.79%, rising 18 basis points compared to this time last week.

When interest rates rise, the monthly payment on homes rises as well, impacting affordability for many buyers. This has and will likely continue to decrease the number of buyers on the market, further increasing inventory and potentially leading to lower asking prices.

Steady Home Values

Despite the 6% slip in average home value in January 2023, prices still remain higher than they were before the pandemic. The market may still benefit sellers looking to sell their homes for a higher price. Even with mortgage rates continuing to rise, home prices are likely to drop to pre-pandemic levels.

Competition

While competition has slowed recently, the market is still fairly fast-moving. A competitive housing market can be advantageous for sellers as it can drive up the price of their home and result in quicker sales.

However, it may also lead to more demands from buyers, and sellers may need to act quickly and make timely decisions to take advantage of the market conditions. It is crucial to be prepared for the potential challenges and work with a professional real estate agent to navigate the process.

When to Sell Your Austin Home?

When to sell a home depends on a range of individual factors, including personal circumstances, the state of the local real estate market, and economic conditions. Here are a few factors that may indicate it’s a good time to sell your house.

1. Mortgage Interest Rates are Low

Keep an eye on the state of the economy, as well as mortgage interest rates, as they can affect the affordability and demand for homes. Rising interest rates may dampen demand for homes and make it more difficult for buyers to secure financing. At the same time, a strong economy may lead to more job opportunities and higher demand for homes.

2. You Have Personal Motivations for Selling

You might have to sell your house if you’re relocating from Austin. You could be in a rush to sell for some other reason and can’t afford to wait for the right offer. Consider your personal goals, circumstances, and motivations for selling to determine the best time to sell for you.

3. Your Property Value Has Significantly Increased

Selling a house that has increased in value could allow you to cash in on the appreciation and use the proceeds to invest in other assets or to purchase a new home that better meets your needs.

It’s important to remember that selling a home also involves transaction costs, such as real estate agent commissions, closing costs, and potential capital gains taxes, which can impact your net proceeds from the sale.

4. When Housing Inventory Is Low

It’s essential to stay up-to-date with the latest market conditions to determine whether it’s a seller’s or buyer’s market.

In a seller’s market, there are more buyers than available homes, which can drive up home prices and create a favorable environment for sellers. In a buyer’s market, there are more homes for sale than buyers, which can lead to lower home prices and a more competitive environment for sellers.

5. You Want to Downsize/Upsize Your Home

If you want to downsize or upsize your home, selling your current house may be a necessary step in the process. Downsizing can free up funds that can be used for other purposes, while upsizing may require a larger investment.

Downsizing is typically a good option for homeowners who no longer need a large house, want to reduce their expenses, or want to simplify their lifestyle. On the other hand, upsizing may be a good option for homeowners who need more space to accommodate a growing family or changing lifestyle needs.

Selling your house can provide you with the opportunity to use the proceeds to purchase a new home that better meets your needs.

When is a Good Time to Wait?

It may be a good time to wait to sell your house if the local real estate market is slow or in decline, as this could result in a lower sale price and a longer time on the market. Additionally, if you are not in a rush to sell and can wait for a more favorable market, it may be wise to hold off until conditions improve. Let’s look at some of these factors in detail.

1. A Slow Market

If the real estate market is in a downturn or is experiencing slower-than-usual growth, it may be wise to wait for the market to improve before listing your home for sale. In a slow market, there are typically more homes for sale than buyers, which can lead to lower prices and longer time on the market.

2. Home Value Considerations

If the value of your home is currently lower than you’d like or if you anticipate that it will increase in the near future, it may be beneficial to hold off on selling. By waiting to sell, you may be able to secure a higher sale price and potentially make a more significant profit. Although home values appear to decrease in Austin, the shift is gradual, and the prices are still way higher than in previous years.

3. When Completing Upgrades

If you’re planning to make upgrades or renovations to your home, it may be wise to wait until those improvements are completed before listing your home for sale. This can help you to increase the value of your home and potentially attract more interested buyers.

4. Personal Reasons

You may have personal reasons for not selling your house yet. For example, it may be wise to delay the sale until a more convenient time for a new job or a change in family circumstances. Only you know if it’s the right time to sell your home, no matter the market conditions.

What To Do During a Recession?

Economic experts have varying opinions about the likelihood of a recession occurring in 2023. Some experts predict that there could be a recession in 2023, citing factors such as geopolitical risks, and the potential for rising interest rates. Others believe that the US economy would continue to experience moderate growth without entering a recession in the near future.

If a recession were to occur in 2023, it could impact the Austin housing market in a variety of ways, including a potential decrease in demand, lower home prices, and tighter credit conditions. Here are a few things people interested in selling or buying a house should consider in the event of a recession:

Stay informed

Keep up-to-date with the latest economic news and market trends to understand how a recession may impact the Austin housing market. Look for information on factors such as interest rates, employment rates, and consumer confidence to understand the current state of the economy.

Determine Your Goals

Consider your personal circumstances and goals when deciding whether to sell or buy a house during a recession. If you’re selling, you may want to wait until the market improves to secure a higher sale price. If you’re buying, you may be able to take advantage of lower home prices and less competition from other buyers.

Work With a Professional

In any market condition, working with a local real estate agent or professional can provide valuable insights and guidance. A professional can help you to navigate the market conditions and understand how they may impact your specific situation.

5 Tips to Sell Your Home in Austin’s Current Market

If you’re planning to sell your house in Austin in 2023, here are a few tips to help you get the best deal in the current market.

  1. Price Your Home Competitively: With high average home prices and limited inventory in the Austin housing market, it’s important to price your home realistically to attract potential buyers. Working with a local real estate agent or professional can help you to determine an appropriate price range based on recent sales and market conditions.

  2. Enhance Your Home’s Curb Appeal: First impressions matter, and a well-maintained and visually appealing exterior can help to attract potential buyers. Consider enhancing your home’s curb appeal with features such as a fresh coat of paint, updated landscaping, or new exterior lighting.

  3. Highlight Your Home’s Unique Features: Given the recent changes, the housing market in Austin is expected to become less competitive for buyers. Still, it’s important to differentiate your home from others in the area. Highlighting unique features such as a spacious backyard, a newly renovated kitchen, or a home office can help to attract potential buyers and increase interest in your property.

  4. Be Flexible With Showings: Making your home available for showings at convenient times for potential buyers can help to increase interest and attract offers. Be prepared to accommodate different schedules and work with your agent to coordinate showings and open houses.

  5. Work With A Professional: Selling a home can be a complex and time-consuming process. Working with Better Homes and Gardens HomeCity can provide valuable insights and guidance to help you to navigate market conditions, negotiate offers, and manage the sales process.

The housing market in Austin is still very much a seller’s market despite the slight decrease in average house values and an increase in inventory. On the contrary, it has encouraged buyers back into the market and look for houses again.

If you’re looking to sell your house in Austin, Better Homes and Gardens HomeCity is here to help you get the best price for your property. We’re one of the area’s most widely used home search websites and a go-to resource for home sellers in Austin.

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Austin • October 6, 2023

Round Rock: A Great Place for Families

by BHGRE HomeCity

Round Rock, already considered by many of its residents to be a family-friendly town, is close to opening a new indoor sports complex that will offer mom, dad and kids even more opportunities for fun and recreation.

The Round Rock Sports Center, scheduled to open in December, will feature six basketball courts and nine multipurpose rooms. The center is expected to host volleyball and basketball tournaments put on by youth clubs, schools and other groups.“We will host tournaments and events of all kinds of indoor sports — from basketball and volleyball to fencing, martial arts, cheerleading, wrestling, badminton, and on and on,” said Nancy Yawn, director of the Round Rock Convention and Visitors Bureau. The new sports center will provide an indoor counterpart to Round Rock’s chief outdoor space for sports. The city’s Old Settlers Park is a 645-acre park system that offers space for disc golf, cricket, baseball, softball and soccer.

The city that calls itself “The Sports Capital of Texas” is also home to the Round Rock Express minor-league baseball team, which thrills fans all summer long at Dell Diamond, where seats are filled, often to capacity, by area families eager to enjoy sports.The new sports center will enable residents young and old to “compete against the best competition in the nation,” said Yawn, as well as enjoy a “fit, recreational community lifestyle. “Round Rock has prided itself on being the family friendly city that we are,” said Yawn. The new sports center, Dell Diamond and Old Settlers (which also provides facilities for family barbecues and get-togethers) are just a few of the reasons families look for homes for sale in Round Rock.

Others include the challenging careers mom and dad can enjoy at numerous area employers, including computer maker Dell, motor manufacturer TECO-Westinghouse and Cintas, a manufacturer of work apparel. Another manufacturer, ClearConnect, recently announced it was moving its corporate headquarters to Round Rock. “We wanted an area with good schools and a family-friendly environment for our employees, and Round Rock fit that description perfectly,” a spokesman explained.

Employees of area businesses should have no trouble finding a place to live. A quick survey of area realty listings shows plenty of Round Rock houses for sale, ensuring new residents can enjoy a short drive to the new sports center and other family-friendly activities.

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San Antonio • October 6, 2023

50 Hidden Gems in San Antonio: Get To Know the City Like a Local

by BHGRE HomeCity

San Antonio, Texas, USA skyline.

If you’re looking to move or buy a home in a city with a lot of character, look no further! San Antonio will provide you with something unique. Also referred to as the “Alamo City,” its vast 505-square-mile territory is home to a thriving arts scene and a wide range of culinary pleasures.

And with San Antonio welcoming around 41 million tourists each year, it has gradually cemented its place as one of the top travel destinations in the state of Texas. Keep reading to find out fifty local places to explore in San Antonio, from natural treasures to intriguing modern attractions and everything in between. Either as someone moving to San Antonio, a visitor, or a local looking to rediscover the city— you’ll find a hidden gem for you.

1. San Antonio Museum of Art (SAMA)

Location: 200 W Jones Ave, San Antonio, TX 78215, United States

The San Antonio Museum of Art is an expansive universal museum where you can find works of art from across the world covering a period of thousands of years. You will not only find contemporary art here but also older works from Asia, Europe, and Latin America. It even has one of the largest collections of Latin American and ancient Egyptian, Greek and Roman works that you will find in the southern states.

Review: “Wonderful artistry of all genres. A very enjoyable place to get cool and see great art by both local and non=local artists. Staff were knowledgeable and helpful.” – Tripadvisor

2. Old Time Wooden Nickel Company’s Museum

Location: 345 Old Austin Rd, San Antonio, TX 78209, USA

The saying goes, “don’t take any wooden nickels,” but this one won’t fit in your pocket no matter what. The massive coin, one of the world’s largest wooden nickels, rests right outside the Old Time Wooden Nickel Company and Historical Museum in San Antonio, Texas. Inside the museum, visitors can observe original wood nickel printing machines, related artifacts and antiquities, and hundreds of wooden nickels on display.

Review: “Wooden nickels. This place is a running printing company and the museum inside is open during regular business hours throughout the week. We enjoyed a quick stop to see the vault and ended up buying a HUGE wooden nickel” – Tripadvisor

3. Lost Propaganda Posters

Location: 600 Soledad St, San Antonio, TX 78205, USA

For the World War II history buffs in the audience, one particular section of the Central Library (Downtown San Antonio) may be of unique interest. The Texana and Genealogy Department boasts a rediscovered collection of vintage World War I lithographs. Almost lost amongst various archives for over 70 years, several of these propaganda posters are available to the public on the 6th floor!

Review: “World-class. One of the best public libraries in the world. A tremendous used book store in the basement, a gorgeous palm-filled garden, and a massive Chihuly sculpture on the second floor – go look around. It’s free!” – Tripadvisor

4. San Fernando Cathedral

Location: 115 Main Plaza, San Antonio, TX 78205, USA

The San Fernando Cathedral was founded in 1731 and is the oldest, continuously functioning religious community in the State of Texas. The Cathedral building has the added distinction of being the oldest standing church building in Texas, and for all of its more than 281 years, has been serving the people of the Archdiocese and San Antonio.

Review: “Serene. This is a beautiful and serene cathedral. Upon my research, it’s the oldest cathedral in the State of Texas and one of the oldest active churches in America. It’s free to tour and there’s paid parking nearby.” – Tripadvisor

5. Witte Museum

Location: 3801 Broadway, San Antonio, Texas, United States

Located next to Brackenridge Park in beautiful San Antonio, the Witte Museum is the city’s world-class collection of historical artifacts, dioramas, relics, fossils, and displays of Texas heritage, natural history, and science. Gaze at a T-Rex, dig for dinosaur bones, learn to tie a lasso like a real cowboy, and more at this interactive and unforgettable place.

Review: “A+ Attraction! This museum gives you a historical overview of Texas that covers 9,000 years. The diversity of Texas is explained and you will be much better educated than when you came. We Loved It”. – Tripadvisor

6. The Alamo

Location: 300 Alamo Plaza, San Antonio, TX, United States

The Alamo is San Antonio’s most famous preserved Roman Catholic mission, open to the public today as a living history site and museum. The mission was originally established as Mission San Antonio de Valero in 1744 and operated for over seven decades until its conversion into a Spanish military fortress in 1793. It is best known as the location of the famed Battle of the Alamo, which led to the deaths of as many as 600 Texas revolutionaries and eventually precipitated the state’s successful secession.

Review: “Educational and Historic There have been changes to the exhibits since we last visited. Always an interesting and educational place to visit when in Texas. Free admission, but you do need a ticket. There are audio tours available.” – Tripadvisor

7. San Antonio Missions National Historical Park

Location: 6701 San Jose Dr, San Antonio, TX 78214, United States

San Antonio Missions National Historical Park preserves the sites of four former Spanish Catholic frontier missions constructed between the 15th and 18th centuries by Spanish colonial settlers. The park was established in 1983 and has been designated as a UNESCO World Heritage Site today.

Visitors can explore the park’s Missions Concepción, Espada, San Jose, and San Juan for free daily, which are all located approximately two to three miles apart along the San Antonio River just past the city’s downtown district.

Review: “Relive the early days… fantastic restoration project! Wonderful long guided tour put on by the National Park Service. Great pics of Ancient Stone Buildings and flower gardens. Very very safe area with lots of free parking. $5 Electric Rental Bikes. Free Entry.” – Tripadvisor

8. La Villita Historic Village

Location: 418 Villita St, San Antonio, TX 78205, United States

La Villita is a historic art community located right off of the RiverWalk in downtown San Antonio. The La Villita area is on the National Registry of Historic Places due to its unique architecture. Here you will find historic structures ranging from adobe to Victorian.

Review: “A Gem of a Shop! What a gem along the River Walk! Such a cute store, with great gifts for children and adults.” – Tripadvisor

9. Brackenridge Park

Location: 531 Brackenridge Way, San Antonio, TX 78212

Located just below the headwaters of the San Antonio River, not far from downtown, Brackenridge Park has been a gathering spot for native Americans since prehistoric times (dating back 11,000 years) and has since evolved into one of the most popular family hang-outs in San Antonio.

This beautiful park is covered with Live Oak trees and offers visitors dozens of privately situated picnic tables and barbeque pits to choose from. Brackenridge offers three pavilions (available for events), a playscape for children, a softball field, a walking path around the pond, where you’ll find all sorts of ducks and other wildlife, and best of all, a charming mini-train that runs right through the park.

Review: “Family friendly – and inviting. What a great way to spend the day in the shaded areas in the park. There are so many things to do for the family including walking the paths throughout the park. The park is soooo close to the zoo.” – Tripadvisor

10. San Pedro Creek Culture Park

Location: 715 Camaron St, San Antonio, TX 78204, USA

Located on the western edge of downtown, near the Alamo, San Pedro Creek Culture Park is a merging and celebration of this city’s nature, art, and culture. The first section opened in May of 2018 and showcases the Plaza de Fundacion and its stunning “Rain from the Heavens” public art installation of custom tile work that adorns a dozen generational benches.

Review: “Recharge. Peaceful and calming stroll through the city. Tranquil environment to stop, breathe, and recharge your soul.” – Tripadvisor

11. Phil Hardberger Park

Location: 13203 Blanco Rd, 78216, San Antonio, United States

Phil Hardberger Park is a 311-acre urban park and living history center in San Antonio that is located on farm property formerly belonging to Max and Minnie Voelcker. Since 2010, the park has been operated by the City of San Antonio, preserving former farm structures alongside outdoor recreational amenities such as basketball courts, children’s playgrounds, and picnic facilities. Over four miles of walking and cycling trails are offered throughout the park, including the Geology Trail and the Savanna Loop Trail.

Review: “Great Park System. Hardberger is a great little hike & bike park in an extensive trail system within San Antonio. It is hard to believe you are in the middle of a city in what feels like a wilderness area with deer and other wildlife.” – Tripadvisor

12. Yanaguana Garden at Hemisfair

Location: 434 S Alamo St, San Antonio, TX 78205, USA

With multiple unique art installations, playgrounds, a splash pad, and over 500 events per year, Yanaguana Garden presents a perfect spot to let loose with your family. Guests can take advantage of free access to games such as chess, checkers, cornhole, and ping pong tables or simply relax on one of the tiled benches. Afterward, indulge in one of the many restaurants nearby.

Review: “Great Kids’ Park. This is honestly a great place for kids. I came here with 4 adults and 7 kids- ages ranging from 1 to 10. They all had a great time.” – Tripadvisor

13. Slab Cinema Outdoor Movies

Location: 127 Devine St, San Antonio, TX

Slab Cinema started in 2004 and has been a favorite family activity ever since. From The Little Mermaid to War Games and even a Coen Brothers triple feature which includes Raising Arizona, Big Lebowski, and Fargo, Slab Cinema pops up at the coolest, most iconic venues, ranging from the San Antonio Museum of Art (at Confluence Park) to Hemisfair Park and even the Alamo.

Review: “Unique experience. I have followed this group since films were shown on the cement slab. Check the website and try to attend every film as they are always fun and free too.” – Yelp

14. Six Flags Fiesta Texas

Location: 17000 W I-10, San Antonio, TX 78257, USA

This fantastic theme park, built on a rock quarry and developed as a major entertainment module, is 200 acres of pure enjoyment. You will be spoilt for choice deciding what and where to head first; from pulse-quickening roller coasters like the 105 ft high Goliath to gentler rides for toddlers, and from cooling off at White Water Bay, to having fun on one of the many family rides like The Buckaroos. There really is a great attraction for everyone and also a great choice of restaurants serving scrummy food!

Review: “Get to Fiesta Texas NOW!! Great theme park. We drove four hours to get there. Fifth visit this year. When we leave we can’t wait to come back. Clean and friendly. Great shows. Great mix of coasters and rides. Great value.” – Tripadvisor

15. McAllister Park

Location: 13102 Jones Maltsberger Rd, San Antonio, TX 78247, USA

Located right in the center of town, McAllister Park is a great way to escape into nature. The free park boasts gorgeous vistas, beautiful vegetation, and many walking and biking trails. McAllister Park is also home to several sporting fields including baseball, soccer, and rugby.

Review: “Nice park. Nice trails throughout the park. The signage isn’t great, so I would advise looking up the park map beforehand. We saw a lot of deer.” – Tripadvisor

16. Cibolo Center for Conservation

Location: 140 City Park Rd, Boerne, TX 78006, USA

Located a short drive outside of San Antonio, TX toward the city of Boerne, The Cibolo Nature Center has 3 miles of walking trails for visitors to enjoy. Millions of years ago, the Cibolo Nature Center was home to dinosaurs that roamed this area. Evidence of that can still be found in the tracks that are located inside the public park.

Review: “Lovely hiking with our dog. The woodland and creek trails were beautiful and the creek was covered with a blanket of cypress fronds. Plenty of shade and a delightful picnic area.” – Tripadvisor

17. Travis Park

Location: 301 E Travis St, San Antonio, TX 78205, USA

Travis Park is an outdoor park that sits on land formerly belonging to San Antonio’s famous Alamo Spanish mission. Since 1870, it has been operated as a public park facility overseen by the City of San Antonio, located adjacent to the beautifully restored Saint Anthony Hotel.

Today, the quaint park offers landscaped grounds, public benches, seating areas, and food truck pop-ups on weekdays between 11:00 am and 2:00 pm, highlighting some of the city’s most unique and delicious food vendors.

Review: “Nice park to relax. We came here to start a scooter tour. I’m glad we got to experience the area. Very enjoyable little peaceful area.” – Tripadvisor

18. Kiddie Park

Location: 3903 N St Mary’s St, San Antonio, TX 78212, USA

Kiddie Park was created in 1925 and renovated in 2009, making it the oldest children’s amusement park in the United States. This old-style, traditional park has so much to offer your little ones, from the park’s traditional Ferris wheel to the wonderful hand-carved Herschell Spillman carousel together with many other classic children’s rides like the Helicopter and Flying Saucers (which parents are able to ride, too). There is also face painting, donkey rides, and lots more.

Review: “Hidden Gem. Cute little place… great fun just outside the zoo. This is a great place to spend some time and tire out the kids. I suggest riding the train.” – Tripadvisor

19. Eisenhower Park

Location: 19399 NW Military Hwy, San Antonio, TX 78257, USA

Eisenhower Park offers a variety of natural sites for guests who are looking to take their dogs for a walk. The site also features an incline for hikers and walkers seeking to boost their workout regimen.

Review: “Nice trails. Nice park, There are several trails. I like the natural trails. You can take your dog to this park. It’s very quiet and peaceful once you go out to some of the longer trails.” – Tripadvisor

 

20. Roadmap Brewing Co.

Location: 723 N Alamo St, San Antonio, TX 78215, USA

The tasting room at Roadmap is one of the best spots in town—oh, and the beer is delicious, too. IPA fans especially will love the selection here; the Mama Dukes IPA is Roadmap’s take on the classic West Coast style, and the Minivan Dad Double IPA is packed full of Simcoe and Mosaic hops, giving it a tantalizing citrus aroma.

If you want something lighter (and weirder), sample the truly unique Boom Gose the Dynamite, a salted wheat beer with the perfect balance of salt and sour.

Review: “Great time. This place is pretty close to the Riverwalk. Great beer with many choices and a friendly environment. Highly recommend it.” – Tripadvisor

21. Southerleigh Fine Food And Brewery

Location: 136 E Grayson St Suite 120, San Antonio, TX 78215, United States

If you know anything about San Antonio (or beer, for that matter), you’ve probably heard the name Southerleigh. Foodies and beer aficionados alike won’t want to miss this one which has a menu developed by the acclaimed Chef Jeff Balfour.

The microbrewery and Texan eatery is housed in the historic Pearl District, boasting an absolutely stunning dining room complete with dark wood floors, leather chairs, high ceilings, and a view of the brewing tanks at work on the upstairs balcony.

Review: “Friend in town so we made a reservation. Overall this place is cool. Food was good. It is expensive. They take reservations thank goodness. Chicken is yummy. Go try it.” – Tripadvisor

22. Dos Sirenos Brewing

Location: 231 E Cevallos St, San Antonio, TX 78204, USA

Dos Sirenos Brewing offers up over 10 beers and is a great spot to bring the dog and hang out on the outdoor patio. Owners Mike and Kari Sireno transformed an abandoned space in the artsy Lone Star District with some art of their own: a large outdoor mural of two mermen drinking beer — a play on their last name — and a large indoor mural of a merman with a trident under the sea. There’s plenty of seating inside and an outdoor beer garden large enough to host Oktoberfest.

Review: “LOVED THIS PLACE!! My husband and I stopped here on a beer tour by Craft Cruiser. What a gem! The owner and his wife were so sweet! The beers were fantastic and the food was wonderful. The pricing was a great deal!” – Tripadvisor

23. Longtab Brewing Company

Location: 4700 Timco W Suite 105, San Antonio, TX 78238, USA

The menu at Longtab Brewing Company is ever-changing, but past favorites have included Belgian onion soup as well as the seasonal Irish lamb and lentil stew. Add a sandwich to your soup thanks to staples like the grilled Cubano with braised pork shoulder and the three-cheese sandwich (made with gruyére, sharp cheddar, and Swiss cheeses).

Review: “Perfect brewery! It was an amazing experience! Perfect atmosphere and perfect food! Small menu but done beautifully! The beer was so yummy and I love supporting a veteran-owned business!” – Tripadvisor

24. Boudro’s on the Riverwalk

Location: The Riverwalk Level, 421 E Commerce St, San Antonio, TX 78205, USA

Step into Boudro’s, a Texas bistro, and experience why it has been one of the most treasured and popular attractions on the San Antonio River Walk since 1986. Settle into a table along the riverwalk’s bank and bask in our warm and welcoming hospitality as you enjoy a prickly pear margarita and then delight in the tableside guacamole presentation that’s a San Antonio treasure.

Order a bottle of wine from our extensive cellar that’s specifically chosen to pair with the big and bold flavors of executive chef Danny Ibarra, who marries the traditions and history of South Texas with the finesse of the world’s finest restaurants.

Review: “A nice surprise in the heart of Riverwalk. Great spot right on the Riverwalk. Walked in without reservations, got a good table, food was great and the service was excellent. Recommended for an impromptu stopover for sure.” – Tripadvisor

25. Mi Tierra Cafe Panaderia

Location: 218 Produce Row, San Antonio, TX 78207, USA

Located in San Antonio’s Historic Market Square and open 24 hours, Mi Tierra Cafe and Bakery can satisfy your Tex-Mex cravings any time of day. Enjoy handmade tamales, rolled enchiladas, or a sizzling pan of fajitas in a perpetually festive atmosphere filled with twinkle lights, pinatas, and mariachi music. Or browse the long glass case filled to the brim with delicious sweets.

Review: “The best pan ever. We wish we bought more conchas. There was a line outside the cafe that moved fast and it was worth it! The food was fresh and we wished we brought more home.” – Tripadvisor

26. Botika Pearl

Location: 303 Pearl Pkwy #111, San Antonio, TX 78215, USA

Another Pearl District San Antonio restaurant go-to, this fusion restaurant melds Peruvian recipes with Asian flavors. Chef Geronimo Lopez of Caracas, Venezuela dazzles at this historic Pearl Brewery outpost that features both “Chifa” (Chinese-Peruvian) and “Nikkei” (Japanese-Peruvian) cuisine, prepared in a charcoal oven.

Review: “A good choice. The food and the service are good. An interesting mix of different cuisines. A little expensive, but you are essentially paying for the prime location at the Pearl.” – Tripadvisor

27. Carnitas Lonja

Location: 1107 Roosevelt Ave STE B, San Antonio, TX 78210, USA

Nestled just south of downtown, this family-owned hidden gem attracts devotees from around town with its traditional Michoacán carnitas. The food: Carnitas by the pound or half-pound, quesadillas, and an extensive seafood menu featuring ceviche, oysters, and fish tacos lead the charge.

Review: “Excellent food and customer service. These are real Carnitas. Everything is homemade and daily. Awesome customer service as well. Will definitely recommend it and come back!” – Tripadvisor

28. The Esquire Tavern

Location: 155 E Commerce St, San Antonio, TX 78205, USA

The Esquire Tavern is the oldest San Antonio bar on the Riverwalk. It is famous for having the longest wooden bar top in Texas featuring 100 feet of elbow-rubbed, beer-soaked old wood. The Esquire Tavern is a real, old-world bar, cool and dark, with lovely old wood paneling, a favorite watering hole for downtown patrons looking for cold beer, hot food, and interesting conversation.

Review: “Great Atmosphere. We loved coming to the Esquire Tavern. The place just has good vibes, and they were playing a lot of fun old school music like Boston and ELO when we went.” – Tripadvisor

29. Cowboys Dancehall

Location: 3030 NE Interstate 410 Loop, San Antonio, TX 78218, USA

This happening night spot in San Antonio plays live country music and features an indoor rodeo arena, a mechanical bull, and also offers dance lessons. The DJ plays melodious country western tunes while a huge dance floor will allure you to join other couples on the floor.

When there is an in-house band, you are sure to have a blast irrespective of your age, being single or married, or having come here with a group of friends.

Review: “Killer place. Best dance floor I’ve ever been on, the bar area is huge, and the house band is fantastic. Didn’t get to see the whole venue as it was closed off that night. No food to speak of and nothing close to either, so eat before you go there.” – Tripadvisor

30. Howl at the Moon San Antonio

Location: 111 W. Crockett Street St. #201, San Antonio, TX 78205, USA

With two dueling piano players, a raucous atmosphere, and audience participation near 100%, Howl at the Moon is a great place to let loose. Musicians keep things boisterous with witty banter, good-natured ribbing, and familiar tunes that all seem to be crowd favorites. Get your courage up with tube or jello shots or an old-fashioned mixed bucket of beers.

Review: “Party driven! Downtown’s premier party scene. Situated at the very heart of San Antonio’s Riverwalk. Howl at the moon features unique high-energy entertainment that will get you right into the middle of the party!” – Tripadvisor

31. Sternewirth

Location: 136 E Grayson St, San Antonio, TX 78215, USA

If you want to show a newcomer one of the most talked-about locations in town, make sure their visit includes a stop at the Hotel Emma’s signature bar.

Hardwood floors and upholstered sofas contrast with the concrete walls and industrial light fixtures that belie the building’s past life as part of the Pearl Brewery; take a stroll around the hotel either before or after your visit for an even better look at the impressive renovation. Craft beers and carefully selected wines are on offer, of course, but make sure to order a Three Emmas cocktail.

Review: “Incredible. One of the most incredible-looking bars you’ll ever experience. Inside of the old pearl brewery, they made this place one of a kind. Delicious drinks and Pearl beer of course.” – Tripadvisor

32. The Bang Bang Bar

Location: 119 El Mio Dr, San Antonio, TX 78216, USA

Welcoming, unpretentious neighborhood spot A self-described “vinyl-spinning, cocktail-slinging, vintage dive bar heaven,” Bang Bang brings just enough of an edge to feel fun without feeling like you’re walking too much on the wild side.

It’s the sort of place where the walls are painted black, your bloody mary comes garnished with an entire turkey leg, and the house special shot comes with Pop Rocks. Grab your drink and play a few rounds of skee ball in the game room, or settle into one of the antique armchairs and catch an “I Love Lucy” rerun on the vintage TV set.

Review: “Never disappointed! Great place to chill and relax during the week, Friday & Saturday can get crowded and pretty loud, but again NEVER DISAPPOINTED! The pizza is delicious, so I ordered it extra crispy. Drinks are AMAZINGLY DELICIOUS!” – Yelp

33. Sparky’s Pub

Location: 1416 N Main Ave, San Antonio, TX 78212, USA

Off Main Street is Sparky’s, a welcoming and friendly pub that’ll make any visitor feel right at home. This spot is away from the traditional tourist route, so a visit here will give travelers a more local San Antonio feel. It’s also one of San Antonio’s new nightlife hotspots in the LGBTQ community, and every night brings new excitement.

Review: “Nice and clean. A great little bar and grill, gets very busy at weekends and late evening, good food and service in a quiet area not too far from downtown and in the gay area.” – Tripadvisor

34. Burleson Yard Beer Garden

Location: 430 Austin St, San Antonio, TX 78215, USA

Located on the east side of downtown, Burleson Yard Beer Garden is simply one of the most enjoyable venues in all of downtown San Antonio. Although they have an indoor bar, this is the preeminent place to go when you just want to kick back outside with your friends and a few brews. Bring your dog, kids, parents, or co-workers— the vibe is always super chill.

Review: “Decent hangout spot. Pretty solid beer garden. They had food available for purchase and a decent beer selection. There was inside seating and there was also a sizable outdoor area with plenty of tables and chairs.” – Tripadvisor

35. Morgan’s Wonderland

Location: 5223 David Edwards Dr, San Antonio, TX 78233, USA

Morgan’s Wonderland, the world’s first ultra-accessible family fun park, encompasses 25 acres of rides, attractions, and activities for everyone, and all are welcome!

This is where the common element of play creates an atmosphere of inclusion for those with and without disabilities, encouraging everyone to understand one another better. The overwhelming success of Morgan’s Wonderland led to the creation of Morgan’s Inspiration Island, the world’s first ultra-accessible splash park.

Review: “Beautiful carousel. We enjoyed riding the vibrantly painted horses on the carousel. Highly recommend a trip for kids and adults of all ages!” – Tripadvisor

36. SEA LIFE San Antonio

Location: 849 E Commerce St Suite 600, San Antonio, TX 78205, USA

If your little ones love aquatic critters and a visit to SeaWorld only sparked their passion and curiosity, then a trip to the beloved San Antonio Aquarium is a great idea. Your kids will get the opportunity to interact with marine life of all types in a variety of informative ways, such as feedings, keeper talks, and dynamic exhibits. It’s the perfect opportunity to teach them about conservation, too!

Review: “Great place for exploring marine life. Great place to see if you like sea life and aquariums, nice place to get out of the heat, relax, learn and explore. Highly recommend” – Tripadvisor

37. LEGOLAND Discovery Center San Antonio

Location: 849 E Commerce St Suite 910, San Antonio, TX 78205, USA

Take a break from your adventures down the Riverwalk and discover a whole world of LEGO magic hidden inside the LEGOLAND Discovery Center. Take an exciting LEGO-themed elevator ride to the Discovery Center, then walk into a replica of San Antonio built from thousands of LEGO bricks. Every few minutes, the whole room goes dark, and the exhibits light up to reveal a view of the miniature Riverwalk, the Alamo, and various city landmarks at night.

Review: “Excellent!! Friendly staff, lots of entertainment for such a small space, and food quality was good. The 4D movie is a must.” – Tripadvisor

38. Splashtown San Antonio

Location: 3600 North Interstate Highway 35, San Antonio, TX 78219, USA

Major cities and downtown water parks may not seem to go hand in hand, but in San Antonio, you can travel less than five minutes from where the Spurs play to a water park with 50+ rides. Like at many other attractions, we recommend a weekday visit if it fits in with your plans. Weekends can be crowded, which often leads to the bathroom facilities becoming questionable.

Review: “Inexpensive Fun. We were first-time visitors to the San Antonio area and decided to cool off at Splashtown. The park was older but clean and we liked that it was smaller since we have five kids to supervise.” – Tripadvisor

39. Urban Air Trampoline and Adventure Park

Location: 11791 Bandera Road Suite A. San Antonio, Texas 78250

If you’re looking for the best year-round indoor amusements in Helotes, Leon Valley, Grey Forest, and Northwest San Antonio areas, Urban Air Adventure Park is the perfect place!

With new adventures behind every corner, we are the ultimate indoor playground for your entire family. Take your kids’ birthday party to the next level or spend a day of fun with the family and you’ll see why we’re more than just a trampoline park.

Review: “Sunday Funday. Nice and clean place. Friendly workers. They have chairs in the kid’s area and also they have a room for adults with massage chairs and a tv. You can do birthday parties and they sell pizza, drinks, ice cream, and more.” – Tripadvisor

40. Government Canyon State Natural Area

Location: 12861 Galm Rd, San Antonio, TX 78254, USA

With over 40 miles of scenic trails that crisscross over rugged canyonlands and gently rolling grasslands, Government Canyon State Natural Area provides a peaceful respite from the chaos of the city.

If you’re up for a long hike, do the Far Reaches Trail and Twin Oaks Loops—this 9.5-mile trail showcases many of the features that make this natural area so special, including diverse flora and fauna (watch out for roadrunner, fox, wild hog, and bobcat), deep canyons, creeks, and ridges offering lovely views.

Review: “First time and surprisingly nice visit. We had a nice 5-mile hike to dinosaur treks in rock. Some spots are very rocky— very well marked. Gate volunteer was fabulous with info. We will be back!” – Tripadvisor

41. Headwaters Sanctuary Trails

Location: 4503 Broadway Street San Antonio, TX,78209

Headwaters Sanctuary Trails consists of one main loop trail with moderate traffic located close to San Antonio Texas. Passing through the trail promises a chance to see unique wildlife inhabitants while on a nature trip with friends, walking alone for some space, hiking with the family, or bird watching with your loved ones. Their walking trails are purposely made with connecting points to nearby parks and nature-inspired areas.

Review: “I loved being out in nature. The trails between The Blue Hole, Grotto, and the Headwaters Sanctuary were all well maintained. Most of the trails were wide enough for two people to walk side by side. It’s a picturesque location.” – Yelp

42. Oakwell Trailhead Park

Location: 150 Ira Lee Rd, San Antonio, TX 78218, USA

Oakwell TrailHead Park appeals to hikers of all skill levels with its moderately trafficked trail loop featuring a river. A hiker’s path is well decorated with bursting wildlife and oak trees providing the needed shade. It is a fairly easy trail that can be explored at any time with its zero elevation change.

Review: “A Different Experience! The trail is scary and cool. I love the vegetation, huge oaks, and wildlife.” – Yelp

43. McAllister Park Trailhead

Location: San Antonio, TX 78247, USA

McAllister Park Trailhead provides not only a medium for nature exploration but also presents a space where an individual can reflect and relax their stresses from the fast-paced city life. Its loop trail stretches all the way to 6.7 miles of heavily packed hiking area situated close to the San Antonio area. While on the hike, one can have a chance to see native flowers and wild grasses paving the way.

Review: “I love this park. It’s huge. You can seriously get lost here, driving around and walking. There are quite a few trails and more than one playground. A dog park, soccer field,  and basketball court. Great for bike riding and Pokémon hunting.” – Yelp

44. North Star Mall

Location: 7400 San Pedro Ave, San Antonio, TX 78216, USA

If you’re looking for an escape from the Texas heat, head indoors to the North Star Mall near the San Antonio airport. Upon arrival, you’ll be greeted by a larger-than-life cowboy boot sculpture at the mall’s entrance, welcoming you to an air-conditioned shopping oasis, where you’ll encounter all the latest stores, including H&M, Apple, and Steve Madden.

Review: “As Malls Go, This One is Fine and Modern. Covered parking is easy and plentiful. It is a long mall and has many stores, food, and general merchandise. It is air-conditioned and spacious, but many of the shops are dedicated to tourism” – Tripadvisor

45. Shops at Rivercenter

Location: 849 E Commerce St, San Antonio, TX 78205, USA

Between two of the most famous attractions of San Antonio, which are the Alamo and the famous River Walk, you will find the Rivercenter mall. This charmingly designed and centrally located indoor mall in the heart of San Antonio has more than 100 shops, including all the familiar fashion shops such as Macy’s, H&M, Victoria’s Secret, and American Eagle, but also interesting places for the youth, such as the Disney Stores and Legoland Discovery Center.

There is even an IMAX theater, where you can watch the latest movies in pretty much the highest quality available.

Review: “Enjoyed! I really enjoyed my visit here. You really need to find parking somewhere though. So be prepared to spend a pretty little dime on your visit.” – Yelp

46. Historic Market Square

Location: 514 W Commerce St, San Antonio, TX 78207, USA

This vibrant, three-block outdoor plaza in downtown San Antonio, Market Square is billed as one of the “largest Mexican markets outside of Mexico.” Shoppers can peruse over 100 locally-owned stores and stalls in festive indoor malls filled with authentic Talavera pottery and specialty clothing.

If you get hungry, there’s plenty of local Mexican food to keep you satiated during your shopping extravaganza. On that note, be sure to stop by Mi Tierra—this Mexican café and bakery is a San Antonio institution.

Review: “Like Old Mexico. Indoor and outdoor markets have a feeling of old Mexico. Friendly people, great prices, and restaurants. Beautiful Talavera pottery.” – Tripadvisor

47. Alamo Quarry Market

Location: 255 E Basse Rd, San Antonio, TX 78209, USA

Minutes away from San Antonio Airport is the Alamo Quarry Market. This premier lifestyle center is a great place for casual dining and strolling through trendy stores like GAP, Bath & Body Works, Sephora, and more. After a few hours of retail therapy, catch a movie at the Quarry’s Regal 16-Plex Cinemas, or tap out with a treatment at The Woodhouse Day Spa.

Review: “First Time Visiting. This is a really nice area! Plenty of stores for shopping and food! I would say go early before it gets crowded, but it’s much to do and see!” – Tripadvisor

48. Ten Thousand Villages

Location: 302 Pearl Pkwy #114, San Antonio, TX 78215, USA

It’s always a joy to shop at the Historic Pearl, as it’s full of wonderful and eclectic upscale shops filled with unexpected treasures! The majority of the shops at Ten Thousand Villages sell truly unique and beautiful fair-trade crafts and housewares from around the world. From amethyst earrings made in Peru to a Phoenician blue decanter made in the West Bank or a salt crystal glow lamp from Pakistan, they have a little something special for everyone.

Review: “Exciting experience. This is such a fun store with welcoming and super helpful and enthusiastic staff. The merchandise is great, you can find unique gifts here that are handmade from around the world.” – Yelp

49. Ingram Park Mall

Location: 6301 Northwest Loop 410, San Antonio, TX 78238, USA

Another top shopping destination in San Antonio is the Ingram Park Mall conveniently located at the intersection of Interstate 410 and Ingram Road. This super-regional shopping center opened its doors in 1979 and has ever since attracted many shopaholics.

Spend a pleasant family outing by shopping at Ingram Park Mall, where you’ll find a mix of retail shops which consist of H&M, American Eagle Outfitters, Victoria’s Secret, James Avery Craftsman, and the Disney Store.

Review: “Great mall. They definitely worked and improved the place the last time I was there. It looks better and is cleaner. Long lines but I can handle waiting (unlike other people)” – Yelp

50. Rolling Oaks Mall

Location: 6909 N Loop 1604 E, San Antonio, TX 78247, USA

Located on the northeast side of San Antonio, this mall provides a variety of shopping options. Shoppers enjoy over 100 specialty shops, including Aeropostale, Agaci, American Eagle Outfitters, Bath and Body Works, GameStop, Inflatable Wonderland, Journey’s, PacSun, Perfumania, Wet Seal, and many others. You will find traditional department stores like Dillards and Macy’s as well as a tattoo salon.

Review: “Sleepy Hallow mall. Very quiet mall. Doesn’t seem busy. Many go here for exercise… walking around the mall. Many great stores, and food courts.” – Tripadvisor

If you’re considering a move here or just moved to San Antonio, the above are some of the unique attractions in San Antonio that you can visit with your family or a group of friends. Other activities in this city include taking a boat trip, trying out wonderful cuisines and tacos, wandering around ghost tours, bar-hopping along the San Antonio River, touring the city’s oldest museums, and enjoying a picnic at the San Antonio Botanical Gardens.

In terms of entertainment and adventure, the city will never fail you. And the best time to explore these lovely attractions in the city of San Antonio is from November to April when the weather is lovely and peaceful. Thinking of buying a house in San Antonio, think of BHGRE HomeCity for all your San Antonio home-buying needs.

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Real Estate • October 6, 2023

12 Things Your Real Estate Agent Wishes You Knew

by Irina Kay

For more reasons, see blog post below!

Buying or selling a home can be a lengthy and complicated process. Real estate agents complete classes and training to learn how to navigate this process best, hone their negotiation skills and learn the tricks of the trade. Years of experience teach them industry best practices, and how to avoid common pitfalls associated with the transaction process.

Most people don’t get this kind of training, so there are inevitably misconceptions about the industry that real estate agents find themselves explaining to client after client. We asked some of our agents what the most common questions they get are, and what they wished more people knew coming into the market. It’s our hope that their answers can help potential clients get a better idea of what to expect when starting the home buying or selling process, and what they can prepare for!

Here’s what our expert Realtor®s at HomeCity Real Estate wish all clients knew from the start:

–  It’s best to find one agent and stick with them throughout the process.  “Find an experienced Realtor® that you connect with, and work exclusively with them,” advises Seth Thompson, the Broker at HomeCity. “Many buyers think agents have different lists of homes, which is not true for 99% of what is available. You will also get full attention from an agent if they know you aren’t asking five other agents to work with you too.”

–    Zillow is not for consumers.  Websites like Zillow were not intended for consumers to use as their primary home search tool. “They have no way to report correct numbers such as sales and what your property is worth,” says Rhonda Riley. “You’re much better off getting the help of an agent who has access to the MLS, and in turn accurate comparable properties.” Zestimates are often inaccurate estimates of what you should sell your home for, and buyers will often find old data on the website!

–    The lender you choose to work with is as important as your offer. “When it comes to lending, the cheapest lender is not the best lender,” warns Sterling Mack. “Service and performance matter as well as experience. Finding a lender that closes on time and is there to answer questions during ‘non-business hours’ is critical to keeping the deal together.” Your agent can help you find the best lender for your needs.

–  Buyers should put their best foot forward when making an offer. “In this hot market, it is best to come in with your highest and best offer first as you may not have the opportunity to do so later and you could lose that house you love,” says Kristi Richards. “Everyone wants a good deal, but a good deal today is getting your offer accepted over others.” In markets like ours, multiple offers are common; you don’t want to miss out because you were trying to low-ball an offer.

–    Continuing to rent could be costing you money! “The time to buy is now,” Carmen Nichols advises. “If you wait another year and keep leasing, you could be faced with increased values and higher interest rates, and on top of that you are missing out on the tax benefits of homeownership. In other words, continuing to rent is costing you a lot of money!” Of course, this isn’t the case for everyone, but many people don’t realize that they could actually save money purchasing a home sooner than later.

–    However, also make sure you can afford the true cost of ownership. “When purchasing a home it’s not just about what your mortgage payment will be,” says Donna Ciccarelli. “Consider what the true cost of overall ownership can be. This includes not only PITI but also utilities and maintenance costs over time. For example, in two years will the AC need to be replaced, or will the house need to be painted? Does insulation need to be added because cellulose packs over time and R-value may be lowered? All these potential costs should be added to an overall cost of homeownership budget.”

–    Life is not an episode of HGTV.  “I think HGTV has some great shows with some great design ideas for your future home,” adds Jonathan Bane. “However, what you may not know – especially in today’s market – is that homes don’t sit on the market for weeks at a time like on the show, and they also won’t accept 10% below listing price like on these shows. Many of the homes shown are ones that have been on the market for quite some time, this why they have so much time to pick between three of them.” When you see a home you like, make an offer quickly! This also circles back to putting your best offer on the table the first time.

– Understand that there are costs and processes involved before closing. “I wish more buyers knew about the amount of money that is expected upfront, before the closing,” says Christina Mugno. “For example, many people don’t realize that purchasing a home involves earnest money, option money, inspection and appraisal payment all usually out of pocket before you get to the closing table.” These together can cost hundreds of dollars, before you even put down your down payment! Saving up before you start your search can help you prepare for these expenses.

–    You should understand credit, what affects your credit, and what score you need to buy a house. “Buyers need to be very aware of what their credit scores are and the impact they have on their ability to buy a home,” instructs Tracy Kilpatrick. “Buyers need to actually speak to a lender and not rely on the credit reporting services that they see on TV to get ACTUAL credit scores. Knowing the difference between a bad and a good credit score, as well as what influences your credit is so important. Trust your lender and your Realtor® to guide you along the way.”

–     Don’t change your financial situation before closing – seriously. “Your debt to income ratio is extremely important when being approved for a home loan,” advises Lauren Tindal. “If this changes after you’ve been qualified then it’s likely your approved loan amount will change as well. Be careful after you’ve been approved not to make big purchases (think appliances, furniture, vehicles) or open new lines of credit. Making these mistakes can cost you the home of your dreams.”

–     Listen to your Realtor®s advice – they negotiate for a living.  “When you hire me as an agent, I’m there to offer the full range of my expertise,” says Matt Witte. “Yes, I’ll find you the home, but I’m also going to help you negotiate the best deal, and make the process as stress-free and enjoyable as possible.” That means when they say to price your home a certain way, you should probably heed their advice. If they tell you you’re getting a good deal on a home you want to buy, you should probably take their word for it.

–    We want to leave you better off than when we found you. “We chose real estate as a means to support our families but just as important to us, is our use of real estate as a platform to help people,” says agent Richard Fowler of his and business partner Donna Ciccarelli’s philosophy. “Together, we do our best to make a positive difference in people’s life every day, and for us, it’s personal as well as professional. This could mean our commitment to continuous education so that our clients get the most out of our services, being giving of our expertise and time and handling every real estate transaction as if it were our family’s personal transactions. We want our clients to be “better off” when we complete their transaction than they were before they hired us, whether that be enjoying that special property, getting top dollar from the sale of a home or a great ROI on an investment.”

Have questions that weren’t mentioned here? Feel free to reach out to your friendly neighborhood real estate agent; they’ll be happy to provide answers. Coming into the home buying or selling process with a basic knowledge of what’s to come can give you a leg up in this competitive market!

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San Antonio • October 6, 2023

Real Estate Investing in San Antonio: What Experts Say About Profitability in 2023

by BHGRE HomeCity

San Antonio, located in the heart of Texas, is a city with a rich history and a thriving economy. It’s home to a diverse range of real estate opportunities that attract both seasoned investors and curious beginners. From charming single-family homes to bustling commercial properties, the San Antonio real estate market has something for everyone.

With its strong economy and growing population, investing in San Antonio real estate can be a wise choice for those looking to build their portfolio. So whether you’re a seasoned investor or just starting out, San Antonio’s real estate market is definitely worth exploring.

Real Estate Market in San Antonio Favors Investors in 2023

There’s good news for real estate investors in San Antonio as the city’s Board of Realtors predicts stable housing prices in 2023, as the market continues to recover from the pandemic.

The single-family home market slowed as home sales fell 24% compared to 2021. This could be due to high home prices (up 14% from 2021) and high mortgage rates. Although San Antonio is still a seller’s market, the increase in the days on the market has given buyers more time to think.

According to Sara Briseño Gerrish, SABOR’s 2023 Chair of the Board, “San Antonio is seeing a spike in the number of days a home stays on the market, compared to the same time last year. Right now, the DOM is reported at 66, which is a year-over-year increase of 94%.”

San Antonio is a popular spot for people relocating from other parts of the country, as noted by Chief Economist of the National Association of Realtors, Lawrence Yun, “The demand for housing continues to outpace supply. The economic conditions in place in the top 10 U.S. markets provide the support for home prices to climb by at least 5% in 2023.”

Alicia Huey, chair of the National Association of Home Builders, explains, “Buyer incentives, along with stabilizing mortgage rates during the month of January, increased the pace of new home sales for the month. However, in a sign of current market weakness, sales are down 19.4% compared to a year ago.” That’s because buying a house is still unaffordable for many people on a tight budget.

NAR also reports that only 27% of renters can afford to buy a typical home. Residential rental rates have already been on the rise since 2019 and have continued to soar to an average of $1,772 in 2022, a 7% increase!

All this means that San Antonio will continue to be a strong market for investors during 2023.

So, for all rental property owners, it might be a good time to hold on to your properties, as rental prices remain strong and sales prices may start to decrease. However, as always, it’s important to consider your specific situation. If you need to sell, it might be wise to do so sooner rather than later. But overall, the San Antonio real estate market is a great opportunity for investors looking to dive into the industry.

The Future Looks Bright for Real Estate Investing in San Antonio

Statistics promise a bright outlook for real estate investing in San Antonio, earning it a place at number 9 on the list of 10 leading housing markets in 2023. The housing demand is high in San Antonio, and since many people are struggling to purchase a home, the demand for rentals is high as well. We’ve discussed some of the reasons why real estate investing in San Antonio might be fruitful for you in 2023.

A Growing Population

San Antonio is one of the fastest-growing cities in the US, with its current population in 2023 at 2,454,000, a 1.7% increase from 2022. A growing population creates demand for housing, which can be a boon for real estate investors.

More people means more potential renters and buyers, which can lead to increased rental rates and home values. Think of it as a game of musical chairs, but instead of chairs, it’s housing. The more people there are, the more valuable houses become!

A Strong Economy

San Antonio has a diverse and robust economy, with major industries such as healthcare, technology, and the military. Its GDP is forecasted to grow by 1.4% in 2023, and the economy is expected to outperform many other cities despite recession concerns.

A strong economy means more jobs, more income, and more people looking for a place to call home. This increased demand for housing can translate to higher rents, property values, and overall return on investment. So, if you’re looking to invest in real estate, keep your eye on the economy; it might just be your ticket to a comfortable financial future!

Affordable Housing

San Antonio has some of the most affordable housing in Texas, which can be a great advantage for real estate investors looking to enter the market. According to SABOR, the median home value in San Antonio is around $299,000, which is considerably lower than the median home value in cities like Dallas and Austin.

Coupled with the significant population growth in recent years, the demand for housing in San Antonio is strong. Whether you’re looking for long-term investment in a rental property or interested in house flipping, San Antonio might just be the hidden gem you’ve been searching for!

It’s a Tourist Destination

San Antonio is not just a city, it’s an experience! It has a diverse array of cultural attractions, a bustling downtown scene, and a warm climate, making San Antonio the perfect place to invest in a property that can provide steady income.

With attractions such as the Alamo, the Riverwalk, and the historic Market Square, it’s a top tourist destination in the US. In 2019, San Antonio welcomed 41 million visitors with an economic impact of $17.4 billion dollars.

Tourists create demand for short-term rental properties such as vacation homes, which can be a lucrative investment opportunity. San Antonio offers investors a unique opportunity to capitalize on a thriving short-term rental market.

A Favorable Tax Environment

Texas has a favorable tax environment for real estate investors, with no state income tax and relatively low property taxes. No state income tax means you can keep more of your rental income, and according to SmartAsset, the city has some of the lowest property taxes in the Lone Star State, with an effective property tax rate of 2.35%.

Consider These Factors Before Investing in San Antonio

San Antonio is a popular location for real estate investing due to its growing population, strong job market, and affordable housing prices compared to other major cities in the United States.

Here are some factors you should consider when investing in real estate in San Antonio:

  • Location: Look for properties in neighborhoods that are in high demand, have a low crime rate, and are located near amenities like schools, parks, and shopping centers. Midtown, Tobin Hill, Lavaca, Westfort, and Monte Vista are some of the best areas to invest in San Antonio in 2023. In all these areas, more than 50% of households are renting.

  • Property Type: Single-family homes are a popular choice for investors in San Antonio. Around 23% of homes here are owned by investors. You may also consider multi-family units or commercial properties.

  • Market Trends: Keep an eye on the local real estate market to see which neighborhoods and property types are experiencing growth and appreciation. Keep an eye on rental vacancy rates, and any zoning laws and local regulations that may decrease the value of your property.

  • Financing Options: Explore your financing options, such as traditional mortgages, hard money loans, and private lending, to find the most profitable option for you.

  • Property Management: If you don’t live in San Antonio or don’t have the time to manage your investment property, consider hiring a property management company to handle tenant screening, rent collection, and property maintenance.

Overall, real estate investing in San Antonio can be a profitable venture if you do your research and make informed decisions based on market trends and your investment goals. Ultimately, each investor’s situation is unique, and it’s important to consult with a professional before making any investment decisions.

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Tools and Guides • October 6, 2023

Should I Buy a House Now? Expert Opinions for 2023

by BHGRE HomeCity

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With rock-bottom mortgage interest rates, a scarcity of housing supply, and everyone wanting to migrate during the pandemic, it was a perfect storm that drove home sales to a 14-year high. And with the continuation of this trend, it was no surprise that new home sales reached 6.7 million in 2021, up 23 percent from the previous year.

So, if you missed out on homeownership in 2022, you may be wondering whether you should buy a property now? But, even if you could, should you, given the skyrocketing prices and senseless bidding wars?

Here’s what the experts have to say — and what you should know if home buying is on your radar in the coming months of 2023.

Here’s What the Experts Say About Buying a House Now

For many people the question is less, ‘Is this the perfect time to buy?’ and more, ‘Is this the perfect time to buy for me?’ However, there are still those that are concerned about a housing market bubble, and the subsequent pop that usually follows one. To answer that concern—our experts don’t see a pop in our near future.

Reagan Williamson, Broker at Better Homes and Gardens HomeCity, advises that it’s still a great time to buy (in Texas, at least). “The housing market may be cooling in some other parts of the country however, here in Texas, we are still experiencing record sales. Buying a house right now in Texas is a wise investment for the future.” He continues, “Homes will continue to appreciate in a more aggressive and rapid manner, most likely outperforming the more traditional means of investing.”

Is There a Housing Bubble, and Will It Pop?

There isn’t an easy answer to this question, but there are factors you can look at to determine how stable the market is. Indicators that things aren’t slowing down any time soon include job growth and population growth.

Williamson goes on to say, “Texas is on the map, businesses are moving to this state on a daily basis. Why? Housing and cost of living are still less than in many other major markets. Our weather is warmer and many new residents love the appeal of spending more time of the year in shorts and flip-flops!”

In other words, the more ‘in demand’ the location you’re looking to purchase is, the more stable your investment will be.

Another thing to consider if you’re concerned that rising prices are reflecting the crash back in 2007, is that real estate bubbles are actually very rare. The 2007 housing crisis happened because of a series of events and decisions that are not likely to occur today, such as the relaxation of lending standards, which have become much more strict in the years since.

After the crisis, several banks were fined huge amounts of money for their participation in lending fraud, so they’re not eager to repeat the same mistake any time soon.

Another thing to consider is that, because of these tightened restrictions, today’s buyers are much more qualified for their home loans. There are much fewer instances of people buying homes they can’t afford, as they were right before the 2007 crash. The state of our market is much more stable than back then, and demand is still outpacing supply, so a housing market crash is unlikely.

The Current Market Outlook for Homebuyers

The present market conditions are shifting, making it simpler for certain property buyers and more difficult for others. Here are some of the most important factors to consider regarding the current market outlook, especially for first-time home buyers.

1. Interest Rates Are Going Up

Interest rates fell to historic lows in 2021, making homeownership more appealing. To help battle inflation, the Federal Reserve is boosting interest rates for the first time in two years. In May 2022, the Federal Reserve raised interest rates by half a percentage point, the most in over 20 years.

Higher interest rates are never good news for borrowers since they represent a higher monthly mortgage payment. However, it’s crucial to remember that these rising rates will still be lower than what many borrowers have locked in in the past.

2. Home Prices Will Likely Continue Rising

As a direct result of the coronavirus epidemic, mortgage rates fell in 2020. This propelled purchasers into the market and sparked a housing craze in areas like Texas, which was already experiencing population growth. However, with a limited supply in the state, the surge in demand caused prices to rise.

According to the Texas Realtors year in review report, months of inventory fell from 1.6 to 1.2 in 2021, and the average days on the market fell to 34, down 21 days from 2020. Because of the scarcity of housing, 21 of the state’s 25 significant metros saw double-digit price hikes. The median price in the state grew to $300,000, up 15.7 percent from 2020. According to the report, the median price per square foot has risen 35.6 percent since 2017.

In 2023, it is no longer news that many potential homebuyers will be priced out of the market. Affordability is more likely to be a problem, which may lower demand in 2023, thereby bringing home buying rates back to more sustainable levels than before the pandemic.

3. It’s Still A Seller’s Market

Despite waning buyer confidence that now is an excellent time to buy a home, the number of families interested remains high. This is especially true for younger homeowners, many of whom are first-time buyers trying to save for a down payment as rents continue to rise to record highs.

Simultaneously, seller expectations for greater down payments appear to be rising, pushed by a still-competitive housing market and repeat purchasers with more equity. As a result, it’s unlikely that the housing market will flip from a seller’s to a buyer’s market anytime soon.

According to the Texas Realtors year in review report, the months of inventory in the state of Texas fell from 1.6 to 1.2 in 2021, and the average days on the market fell to 34, down 21 days from 2020.

4. Credit Criteria Are Stringent

Although mortgage credit criteria have softened slightly since mid-2021, lender restrictions remain relatively tight. According to the Mortgage Bankers Association, mortgage loan availability was thirty percent lower in March than before the coronavirus outbreak. As a result, it may be more challenging to qualify for a mortgage due to decreased mortgage credit availability.

Is It A Good Time To Buy A House?

Rising housing prices make it difficult for people to buy, and most Americans believe that now is the time to wait. And, according to a new Gallup poll, only thirty percent of Americans say now is an excellent time to buy a property. Moreover, less than half of Americans thought it was a perfect time to buy for the first time.

People are worried about growing home costs, mortgage rates, and a restricted housing supply. Americans’ poor perceptions of the present housing market may deter them from looking to buy, resulting in a decline in home sales. If this happens, it may lower the demand for houses and cause property values to fall.

Above all, no magic metric or forecast will tell you when it is an excellent time to buy a home. Regardless of home prices or interest rates, the most fantastic time to buy a house is when you are financially prepared. Don’t allow friends, family, or internet “experts” to pressure you to make a decision you’ll regret later.

If you’re still interested in buying a home, especially in Texas, you should consider asking yourself the following questions to help you make the right home buying decision.

1. Are You Financially Prepared To Buy?

Making sure you’re financially prepared to buy a house is one of the wisest things you can do before entering the market. The truth is that getting approved to become a homeowner necessitates a certain level of financial security. Furthermore, there are several fees associated with owning a property. So, before entering the market, be sure you’re in good financial standing.

Mortgage lenders consider four major elements when determining whether or not a buyer is qualified to buy a home. They are as follows:

Two years’ worth of W-2s, preferably from the same firm. This demonstrates that you have a steady source of income with which to repay the mortgage.

* A decent credit score. Mortgage lenders nowadays want a score of 540 or higher for FHA loans and 620 or higher for conventional loans.

* Low overall debt. To be eligible for a mortgage, you must have less than a 36 percent debt-to-income ratio. Add up all your monthly loan payments and divide the total by your entire monthly income to arrive at this figure.

* A savings account. To purchase a home, you’ll need to make a down payment (3 to 20 percent of the purchase price) and pay closing charges (1 to 2 percent of the sale price). Make sure you have enough money saved to pay these expenses.

It’s okay if you don’t have all of these things in order yet. You might have to wait a little longer to be a homeowner. In the end, though, securing your finances will reward you handsomely.

2. Are You Ready To Settle Down?

Consider your life objectives, relationships, and interests. How long do you intend to stay in this location? In an ideal world, you’d stay in your house long enough for rising property values and your equity to outweigh the buying and selling expenditures, such as real estate commissions and mortgage closing costs. But unfortunately, this often takes several years.

If the home grows in value and you sell it within two years, you may be subject to capital gains taxes.

3. Do You Have A Rainy-Day Fund?

An emergency fund might help you get by if you cannot work or cover the cost of unanticipated needs. Most experts recommend having enough cash in a savings account to last three to six months — and homeowners may desire more.

Homes require care and repairs, especially older ones, and may require upgrades. Being able to buy a house without the funds to help with upkeep could put you in financial strain.

4. Are You Able To Make A Down Payment?

You may have heard that a down payment of 20 percent of the buying price is required to acquire a property. However, many lenders will accept down payments as low as three percent. In fact, according to Rocket Mortgage, the typical down payment in 2020 was six percent.

Bear in mind, however, that borrowers who put down less than 20 percent must pay private mortgage insurance. If you default, PMI prevents the lender from losing money. PMI is frequently added to your monthly mortgage payment and can cost anywhere from 0.5 percent to 2 percent of the loan amount.

Pros and Cons Of Buying in the Current Market

If you’re on the fence about a home purchase in 2023, you should consider some advantages and disadvantages before getting your foot in the door of homeownership.

Why Should You Buy A House Now?

Rising prices result in more significant equity.

One of the primary advantages of having a home is that rising home equity can contribute to your net worth over time and provide you with a low-cost source of cash when needed. In addition, the opportunity to accumulate equity distinguishes homeownership from renting, which provides no return on investment.

Home buyers who buy now will likely witness rising property values and improved home equity. Moreover, because supply remains relatively low compared to buyer demand, property prices are expected to increase further.

Homeownership implies stable housing costs.

What’s particularly appealing about using a fixed-rate mortgage to purchase a home is that, even if the value of your home rises, your monthly principal and interest payment will remain constant for the term of your loan.

Real estate ownership is still the most effective strategy to build generational wealth. However, when you combine this logic with the reality that rents are rising at an all-time high, it makes more financial sense to buy a property and build equity.

House prices are continuing to rise.

It could be quite long before the housing bubble explodes and what is currently a seller’s market turns into a buyer’s market. And with Zillow researchers releasing a revised forecast predicting that U.S. home prices would rise 14.9% between March 2022 and March 2023, the end is definitely not in sight. Even if a downward shift does occur, the issue of low inventories in several states in the US may remain unresolved.

Rents are increasing at an alarming rate.

While you may think renting a house may save you money in the short term compared to buying a home, monthly rent prices are at an all-time high. Not only do you have to spend more money on rents, you are missing out on building equity.

In fact, a recent study by RealPage shows that the typical rentals in the Dallas-Fort Worth area increased 18.7 percent over the previous year. Finding a property to rent in North Texas is becoming increasingly difficult, and it’s difficult to see the situation improving anytime soon.

Why Should You Wait To Buy A House?

Housing prices are higher than ever.

According to the Federal Housing Finance Agency’s House Price Index, property prices increased 18.5 percent over the previous year in the third quarter of 2021. That being said, housing prices have stayed fairly high since the start of 2022.

If you try to buy a home in 2023, you might end yourself with a bigger mortgage than you’re used to. And while mortgage rates should remain relatively low into the new year, this may not be enough to offset increased prices.

Low inventory means less choice of homes.

Since the start of 2022, the housing market in the United States has been constantly faced with a depleted inventory. Unfortunately, things are unlikely to improve significantly by 2023, at least not in the first part of the year. Total housing inventory is still tight in Texas’ four biggest metros. Both Austin and DFW remained below one month while Houston and San Antonio were slightly above.

Many sellers have delayed listing their houses because of the coronavirus pandemic and economic concerns. If new homes do not enter the market, prices will remain high, but you will also have a limited choice of homes. As a result, you may have to compromise on your desired features. Alternatively, it could force you to purchase a home that needs extensive renovations and repairs.

There is a great deal of ambiguity to contend with.

COVID variants and cases are still on the rise even with the introduction of several vaccines in the US. But while things are beginning to take shape (and hopefully) improve by the end of 2023, now may not be the best moment to make a significant financial commitment.

So far, there’s no sign that extensive economic shutdowns will be undertaken to battle mounting COVID-19 variant cases, as was the case during the pandemic’s early phases. However, that might change if circumstances worsen. And this could result in income loss, making homeownership even more difficult.

Your employment circumstances may change.

Because of the pandemic, many people are currently working remotely. Several major corporations had planned to return staff to the workplace in early 2022 but had to postpone those plans due to mounting cases and new variants.

You may not want to commit to buying a home until things settle back to normal. If it turns out that you’ll be requested to report to a new location after workers return to the office, you may find yourself in a situation where you’ve agreed to a terrible commute and are stuck with it.

If you’re in a great financial position to buy a home – say, you’ve saved a significant down payment and are confident in your work – you might want to proceed with plans to buy one in 2023. However, if you have reservations, delaying your purchase may be advantageous.

5 Tips For Buying a Home In the Current Market

For those looking to buy a house in today’s seller’s market, there is still much preparation to ensure you make an informed selection. Here are five pointers to help you find the home of your dreams:

1. Do Your Research and Know Your Limits

If you haven’t gone through the mortgage pre-approval procedure, you may be in for a harsh shock when your dream home is out of your price range. However, you can avoid this heartbreak by analyzing your local market and determining your purchasing power before starting your property search.

You can utilize online real estate search engines to gain a good image of the market in the area where you wish to buy. Then, before you start looking, select a lender and get pre-approved for a mortgage.

Pre-approval will look at your overall financial picture and provide you with a loan limit that you may utilize to keep your housing search within your budget. Your real estate agent may require you to present your pre-approval letter with any offer you make in a competitive market.

2. Increase Your Earnest Money

If you’re unfamiliar with the term, buyers are usually obliged to put down earnest money — also known as a good faith deposit — in the escrow process to demonstrate to the seller that they’re serious about reaching a deal. Then, when escrow closes, the money is either used for your down payment or closing fees, or you can request a refund.

According to Chase, earnest money ranges from 1- 3 percent of the home’s buying price in most markets. In addition, when numerous purchasers are interested in the same house, the seller may ask for a good faith deposit of up to ten percent of the purchase price.

Of course, you can also provide more earnest money than is required to make your offer stand out to the seller. If you don’t have enough money right now, consider pausing your search until you have enough to put this tip into effect.

3. Make Your Best Offer First

According to the National Association of REALTORS, there were approximately five offers for every home sold in the United States in February 2022. As a result, it is critical to make your offer clear, strong, and concise.

When sellers have several offers to choose from, they typically do not want to deal with contingencies or minor details. Also, enter strong with your best offer because there may be no chance for you to raise it later. Another method to differentiate yourself is to provide the seller with more flexibility.

4. When You Like a Home, Move Quickly

Buying a home is likely the largest purchase you’ll ever make, so taking your time and thinking about it makes sense. Unfortunately, however, you can’t think about it for too long in this market.

According to Zillow, properties in the United States were on the market for 25 days in 2021. However, this is an average number, and the more desirable properties are typically snatched up much more quickly..

On that note, looking for properties that have been on the market for a while can help you save money. This is because home values fall the longer a home is on the market.

One trick is to ask your real estate agent to compile a list of properties you like that have been on the market for more than 40 days but less than 90 days. You may not have the cream of the crop to choose from, but you may find a diamond in the rough.

5. Choose An Experienced Agent

Hire a local real estate agent you can rely on who has a track record of success. When it comes to buying a home, you want an agent who is active and available 24 hours a day, seven days a week. In addition, look for a Realtor who will actively search for off-market listings.

A top-tier Realtor typically has an extensive network of broker contacts with whom they can share information about homes that are “coming soon” to the market. Again, this gives you an advantage over other potential purchasers.

There is no single ideal time to buy a property; the best moment for each prospective buyer will differ. Therefore, it is critical to assess your financial status and comprehend how purchasing may affect your monthly bottom line.

Are you ready to begin your home-buying journey in Texas? Then click here to find your perfect home in Texas.

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