Monday, January 30, 2012

Santikos to build theater on West Side :: Commercial News


Granada_Santikos Theaters has announced plans to build its eighth cinema in San Antonio. The new Granada Theater at Potranco Road and Loop 1604 will be a 16-screen cinema that is expected to open in late December.   The Granada Theater is will have a Spanish motif and an a retail component attached to the cinema.Front Photo: Santikos Theaters / SA


Santikos to build theater on West Side ::
Commercial News Update               

Locally-based Santikos Theaters is resurrecting plans to build a 16-screen theater on the San Antonio’s West Side.

The Granada Theater will be located at the southeast corner of Loop 1604 and Portranco Road. It will feature an exterior and interior design inspired by Granada, Spain, and will be equipped with the latest digital technology, state-of-the-art sound and stadium seating.

Development costs for the planned theater were not released.
The theater had originally been announced in 2004 with an expected opening date in 2005, but the project never got off the ground. This time the company is expecting better results.

“The Granada has been a labor of love and we are thrilled to be advancing our progress in expanding to the West Side of San Antonio,” says Alexis Smith, director of marketing for Santikos.

The theaters main lobby will include a cafe serving Starbucks Coffee and an entertainment area with video games and facilities for birthday parties, meetings and special events.

Santikos currently operates seven theaters in San Antonio and one in Tomball near Houston.

Sunday, January 29, 2012

Dream Home: 7 Highgate Dr., The Dominion

The Dominion::

7 Highgate Drive,
San Antonio,
TX 78257

Asking price: $2.799 million


An external view of the front of the home, spotlighting the landscaping of the yard. Photo: RealEstate.com / SAAn external view of the rear of the home during evening hours, highlighting the pool and patio area. Photo: RealEstate.com / SA




Located in the Bexar County subdivision known as The Dominion, this home was built in 2006, is situated on just under an acre and offers 7,410 square feet of living space.

The two-story domicile contains five bedrooms and five full bathrooms. The chef's kitchen features a center island and breakfast bar and is decked out with a Sub-Zero/Wolf appliance package. In addition to the formal dining room, there is also a separate breakfast room. Other key areas of the home include a formal living room, children's retreat, game room, a state-of-the-art home theater and a library.

External attributes of the lushly landscaped property include an outdoor TV and fireplace, heated pool and spa with waterfalls, teppanyaki and outdoor grill, refrigerator, firepit and a four-car garage. In addition, the home is located within a 24/7 guard-gated enclave.


Listing agent: Jason Glast, Keller Williams Realty Luxury

Saturday, January 28, 2012

Mortgage Rates Continue To Solidify Bounce Back To Lows


Mortgages Rates over the past two days have done much to make ground lost leading up to Yesterday's FOMC Announcement. After further improvements today, rates further solidified their reentry into 3.875% 30yr Fixed Best Execution levels. (for detail on what that means, READ THIS POST from a few days ago). The rounded average of various lenders' Best-Ex rates had moved up to 4.0%, and more than a few lenders are still well-priced there, but a majority are once again offering 3.875% with attractive borrowing costs.

Yesterday's FOMC Announcement (Federal Open Market Committee or simply "The Fed") which surprised some market participants with it's inclusion of new verbiage describing how long the Fed anticipated that it would keep its "Fed Funds Rate" at so-called "exceptionally low levels," continues to be the primary driver of the bond market rally. When the broader bond markets are rallying like this, MBS (the "mortgage backed securities" that most directly affect mortgage rates) tend to rally as well. Most of the overnight news out of Europe as well as domestic economic reports garnered much less-than-standard levels of attention as markets continued adjusting to the new realities of the Fed's shift in verbiage from "mid-2013," to "late-2014."

We said yesterday that, while the FOMC Announcement definitely helped rates break recent trends at 4.0% Best-Ex, it would be up to the rest of the week to solidify the rebound. Cross the first half of that task off the list... 4.0% Best-Ex is increasingly looking like an outlying exception to a broader trend at 3.875%. (As always, please keep in mind that our talk of Best-Execution always pertains to a completely ideal scenario. There can be all sorts of reasons that your quoted rate would not be this low, and in those cases, assuming you're following along on a day to day basis, simply use the Best-Ex levels we quote as a baseline to track potential movement in your quoted rate).

Today's BEST-EXECUTION Rates
  • 30YR FIXED - 3.875% mostly, with a few lenders at 4.0% still
  • FHA/VA -3.75%
  • 15 YEAR FIXED - 3.375% and more 3.25's
  • 5 YEAR ARMS - 2.625-3.25% depending on the lender
Ongoing Lock/Float Considerations
  • Rates and costs continue to operate near all time best levels
  • Current levels have experienced increasing resistance in improving much from here
  • There are technical reasons for that as well as fundamental reasons
  • Lenders tend to get busier when rates are in this "high 3's" level and can throttle their inbound volume by raising rates or costs.
  • While we don't necessarily think rates are destined to go higher, given the above facts, there seems to be more risk than reward regarding floating
  • But that will always be the case when rates operating near historic lows

Friday, January 27, 2012

Uh-oh, S.A. renters. Watch for ‘aggressive’ price hikes



Uh-oh, S.A. renters. Watch for ‘aggressive’ price hikes

Look out, San Antonio renters. Rents may be on the rise, and more than usual.
There’s a really interesting blog post this week from Greg Willett at Property Management Insider. He breaks down the evolution of the San Antonio apartment market. Willett writes:
“Effective rents for new leases in San Antonio jumped 4.6 percent during calendar 2011, more than doubling the historical norm even though current occupancy of 92.9 percent is virtually identical to the past average.”
Why?

Willett says it’s all about nice, new product and out-of-town owners. Nicer apartments have been popping up. And the owners are used to markets “where aggressively pushing rents is the norm, rather than the exception.” So say goodbye to the 2 percent per year rent increases that have been more typical.

He writes:
“In the future, then, don’t be surprised if San Antonio rent change proves a little more substantial than it has in past periods of comparable occupancy.”
See if you qualify for a home:  Visit www.TorresRealtyGroup.com


Thursday, January 26, 2012

7 Uber-Helpful Mobile Apps for House Hunters

TRG :: Techie Report
 
 
The once-funny statement that “there’s an app for that”  is now true much more often than not. With close to 1 million mobile apps available for download, it can be an overwhelming task to sort out the truly useful from those that are simply entertaining - not to mention those that are just plain silly.

So, I’ve done some homework for you! Here’s a short list of mobile apps I think you’ll find super useful for saving time, making smart decisions and keeping you organized while you’re hunting for your next home.

1. Genius Scan
What it does: Puts a document scanner in your pocket. Enables you to use your phone’s camera to take a picture of a document, then email it to anyone in PDF or JPEG format.

Why it’s useful: Many real estate agents now use digital document signature software which allow you to sign with a click and, more importantly, without faxing documents back and forth. But some don’t - and some mortgage lenders will simply not accept anything but a copy or scan of your ‘wet ink’ signature.

Throughout your transaction, you might find yourself needing to scan and email your contract documents with your original signature, a copy of your deposit check, new payroll check stubs as you receive them, your driver’s license, a gift letter from your Auntie Grace or any of a number of other documents you’ll need to get to your agent or mortgage pro across town - or across the country. Having the ability to scan documents and checks and email them right from your phone can save you a lot of time and hassle - not to mention gas and cash.

Works with: iOS
Price: Free
Android Alternative: Document Scanner (Free 7-day trial/$3.98 for full version.)

2. Dictionary of Real Estate Terms
What it does: Translates the vast universe of real estate jargon and acronyms into plain English, putting a decoder at your fingertips for easy reference any time you need it during your house hunt or transaction. The Dictionary includes over 3,000 real estate terms, charts and graphs. You can save your searches and email terms to others. Your phone does not have to be connected to the Internet to use the Dictionary, which can be useful if you need to look up a term on an inspection or appraisal report while you’re in a home or office where you don’t have a great connection.

Why it’s useful: I can guarantee few things in life, but one thing I do feel comfortable assuring you is that home buying will expose you to terms you have never heard before. You need to know what the terms used in your inspection, disclosure, contract and loan documents mean, and sometimes looking them up is the best way to do that.

Works with: iOS and Android
Price: $1.99 (iOS) and 99 cents (Android)

3. House Hunter
What it does: Helps you organize your house-hunting notes and priorities so you can more easily remember and compare the homes you’ve seen. The app also helps you evaluate the homes you’ve seen by providing a scorecard that weighs features against what you’ve identified as requirements and priorities. It includes a mortgage calculator, photo storage, and a feature that allows you to share your notes with your agent, among other bells and whistles.

Why it’s useful: After you see about five houses, they can all blend together. This app helps you keep it all straight, while also keeping you mindful of what your original priorities were and how the homes you see measure up against them.

Works with: iOS
Price: $3.99

4. SpringPad
What it does: Helps you keep track of any and every thing you want to remember in a digital notebook you can access from anywhere, on any device. You can:
  • scan barcodes of home furnishings, appliances and other items you want to buy after you move;
  • save ideas, property addresses, online clippings from design and news sites, photos from decor mags and to do lists from your mortgage broker;
  • categorize all these things - and more - by house hunt, mortgage and escrow, moving, and decorating; and
  • set reminders, share your notes with your agent or even get an email alert when the duvet you want goes on sale.
All without a single scrap of paper!

Why it’s useful: Empowers you to organize the hundreds of elements of your home buying adventure into a single spot and access it wherever you are - without carrying a bulky, messy binder or folder around.

Works with: iOS and Android
Price: Free

5. ColorSnap
What it does: Allows you to take a picture with your phone’s camera from anything in the world that inspires you, then discover the corresponding Sherwin-Williams paint color.

Why it’s useful: If you see a wall color you love in a home you, well, don’t like too much otherwise, you can capture the color and replicate that once you do find your dream home. Same goes for if you come across any other item in a color you love and would like to incorporate into your design scheme.

Works with: iOS and Android
Price: Free

6. Karl’s Mortgage Calculator
What it does: Calculates mortgage payments using the principal loan amount, interest and term (and can solve for any of these if you input the other three variables). This app also gives you a more precise idea of what your total monthly expenses will be on a given home by factoring in line items other calculators leave out, like mortgage insurance, homeowners association dues, property taxes and homeowners’ insurance. You can also see what kind of savings you might be able to achieve - and how early you can pay your mortgage off - by running scenarios that add in extra loan payments.

Why it’s useful: Having this mortgage calculator handy during your house-hunting adventures will enable you to quickly calculate how a given increase in your offer price will change your monthly payment.

Works with: Android
Price: Free
iOS alternative: Mortgage Calculator Pro (99 cents)

7. Trulia Real Estate App
What it does: SHAMELESS PLUG ALERT. Seriously, no mobile app list for home buyers would be complete without the Trulia app. It uses your phone’s GPS function to serve you up nearby listings and their details if you happen to find yourself in a neighborhood you love, or in front of a home with a for sale sign - but no flyers! The Trulia app also finds the banks, restaurants and gas stations near any given listing, and can even create instant heat maps showing neighborhood differences in prices.

Why it’s useful: You may find that you like a particular neighborhood, but not the individual home you came to see. Or you might visit a friend and fall in love with their street, but have no idea what homes in the area go for. Having an easy-to-use mobile app that helps you discover more nearby homes for sale, wherever you are, is actually quite indispensable. It eliminates the need to scrawl down numbers on scraps of paper or squint to see the faded numbers on the curb then wait until you’re in front of the computer to try to match an online listing to a real-world house.

Works with: iOS and Android
Price: Free
By Tara-Nicholle Nelson | Broker in San Francisco, CA

....and don't forget to take us along with you with our new Mobile App @ http://bit.ly/wXWR3w  (still needs some work - but it helps our buyers our while out on the road)

Wednesday, January 25, 2012

Windcrest site near Rackspace is in developer’s sights

Rackspace Hosting Inc.’s corporate headquarters is located in the former Windsor Park Mall.
Rackspace Hosting Inc.’s corporate headquarters is located in the former Windsor Park Mall.

Dallas-based equity firm Stratford Land earlier this month closed on the purchase of a large tract of land in the nearby city of Windcrest — marking a major leap forward in the effort to breathe new life into what was once a thriving retail hub in the San Antonio area.

Development plans for how the acreage will be utilized are still in the early stages, but Stratford sees the tract as a prime site for a range of uses — including retail stores, restaurants, hotels and apartments.

The 111-acre parcel is located along a major freeway artery — Interstate Highway ...

Tricia Lynn Silva covers real estate, retail, construction, and law firms; she also plans and edits some special reports.

Monday, January 23, 2012

Most Active Counties in Texas :: Monteola Subdivision



The most active counties in a state are determined by counting the number of properties displayed for that county over the last 7 days. Rural Real Estate industry trend reports such as Number of Searches by County, New Properties Added Counts, Property Counts in Search Results , and Number of Properties Marked as Sold are available. 


CountyAvg PriceAvg Ac.
1.Kendall County$1,761,167.83148.99
2.Henderson County$264,344.6519.02
3.Burnet County$506,500.6044.01
4.Bandera County$689,687.6482.35
5.Llano County$398,594.1440.80
LandsofAmerica.com
 
Visit our sites at MONTEOLA...a real taste of Texas Hill Country Living!
 
Click Here for More Information about fine living at Monteola, the San Antonio area’s most unique and breathtaking private gated community.

Interest Rates



An improving US economic outlook was negative for mortgage rates this week. Reduced concerns about Europe also caused a partial reversal in the flight to safety trade. As a result, mortgage rates ended the week higher.

Early in the month, the December Employment report showed a larger than expected increase of 200K jobs, and the Unemployment Rate continued to move lower. This week, Weekly Jobless Claims fell to the lowest level since April 2008. The labor market is one of the most important factors in the health of the economy, and many investors now view the outlook as brighter than it has been since the financial crisis began. If this is the case, it will be great news for the economy, and job gains will increase the willingness and the ability of people to purchase homes.

The Housing sector data released this week was encouraging as well. January Existing Home Sales increased 5%, while the inventory of unsold homes declined 9%, to the lowest level since March 2005. December Housing Starts for single-family units increased 4%, and Building Permits for single-family units rose 2%. Finally, the January NAHB Home Builder confidence index rose for a fourth consecutive month to the highest level since 2007. Improving economic conditions, high affordability levels, and low mortgage rates provide solid reasons to be optimistic about the housing market.

The most highly anticipated economic news next week will be Wednesday's Fed announcement. Investors will be looking for hints about whether the Fed will provide additional monetary stimulus. The most significant economic report will be Friday's GDP data for the fourth quarter. GDP is the broadest measure of economic activity. Before that, Pending Home Sales will be released on Wednesday. Durable Orders and New Home Sales will come out on Thursday. Leading Indicators and Consumer Sentiment will round out the schedule. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.
Copyright @ 2012 MBSQuoteline

Tuesday, January 17, 2012

Market Update :: TRG

Increased concerns about Europe helped mortgage rates improve this week, although the impact of the recently passed extension to the payroll tax reduction is beginning to push up mortgage rates for certain loans (discussed below).

The news from Europe was mostly negative this week. Economic growth in Germany was slower than expected. Negotiations on restructuring Greek debt did not progress as planned, increasing the risk of default. S&P is downgrading the debt of several European countries, including France. Finally, the European Central Bank (ECB) provided no relief, as it gave no indication that it would increase the level of aid available to troubled countries. As a result, investors shifted funds to relatively safer investments, including US mortgage-backed securities (MBS), which helped mortgage rates move lower.

The recently passed extension to the temporary payroll tax reduction contained a lightly publicized revenue raising provision to increase the guarantee fees charged on Fannie Mae and Freddie Mac loans. This fee results in higher rates for borrowers, and mortgage rates for loans not expected to close within the next month or so have begun to reflect this coming increase in guarantee fees.

The most significant economic data next week will be the monthly inflation reports. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Wednesday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Thursday. CPI looks at the price change for those finished goods which are sold to consumers. In addition, Industrial Production, an important indicator of economic growth, will come out on Wednesday. Housing Starts will be released on Thursday, and Existing Home Sales will come out on Friday. Philly Fed and Empire State will round out the schedule. Mortgage markets will be closed on Monday in observance of MLK Day.
Copyright @ 2012 MBSQuoteline