House Prices Soaring In San Antonio in 2021

The spring selling season has started in San Antonio, and home buyers and investors looking for properties should expect to pay more, no matter if you’re buying a $50,000 under market value property or a $1 million mansion.

A recent study revealed the annual appreciation of homes in San Antonio is between 7-8% as of February, compared to a year ago.

Lower-priced homes in San Antonio saw an 8% rise, with a typical price of $153,000. For homes up to $226,000, the rate was 8%. Home values in more expensive homes above $366,000 grew 7.3%.

Also, the median price of sold homes in San Antonio increased 12% in March 2021 to $268,000, with the average of 45 days on the market, which is down 35% from last year.

We’re seen such an increase in prices this year that some worry we might be looking at a housing bubble like 2008. But this doesn’t seem likely; the conditions causing the increase this time are different, so we’re probably in for a steady rise for the foreseeable future.

Excess lending is largely what drove the 2006 and 2007 bubble. But lending standards are tighter now. Most buyers need higher FICO scores and down payments, and debt to income ratios are tighter.

Also, there still is a shortage of homes in San Antonio; the inventory dropped to only 1.3 months in March 2021. That’s well below the typical six month supply that is thought to be a good balance between buyers and sellers.

Another factor reducing supply – and this is something that should concern investors looking for San Antonio wholesale properties – is high material costs. Prices have tripled since 2020 with the average cost of a new San Antonio home almost $400,000.

Available land is scarce and more expensive, and the permitting process is taking longer.

More people are moving into Texas from more expensive areas, drawn to the lower real estate and living costs. Real estate investors are buying up a lot of under market value real estate properties in San Antonio, too. This increases prices.

But while you will pay more for San Antonio wholesale properties, you can charge a higher price when you owner finance or rent it.

Here at Texascashflow.com, we’re currently searching for new deals that meet our criteria. Don’t worry – we’ll have our listings updated soon with more fantastic wholesale investment properties.

FOR SALE OFF MARKET – 2401 Ave J Hondo TX


Investors!

We have a 100% off-market property available in the growing community of Hondo, TX, only 43 minutes west of San Antonio. Contact 210-865-0742 or jmpickett@gmail.com for more information.

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Property Address: 2401 Ave J, Hondo TX

Description: Great flip or buy and hold opportunity with this 4/4, 2,800 square foot single family home. Sits on .581 acres and features an in-ground pool with shower and restroom. Also includes outdoor garage or workshop.

Repairs: $55,000, including full kitchen and bathroom remodel; new flooring, foundation leveling, service HVAC and pool pump, includes resurface pool, new electrical. We have a full construction team that will update by phone and photos every week on construction progress. Or bring your own team to do the rehab.

ARV: $350,000

Comps: 1509 25th st Hondo Tx , .289 acres, 4/2 2324 sq ft  – Sold 11/2/2020 $345,000

1101 27th st Hondo Tx, 4/3 2844 sq ft, .51 acres – Sold 7/8/2021 $355,000

Price: Asking $200,000 – note 2020 appraisal came in at $220,000

Strategy: Flip with $55,000 in repairs or rent for $2000 to $2500 (we have eligible renters standing by.

Notes: Real estate experts say that with the ever-northward expansion in San Antonio’s real estate market, the push to find raw and affordable land out beyond the city limits to develop into residential subdivisions became inevitable – making Hondo more and more desirable to buyers as the San Antonio market shoots higher.

SOLD

Address: 1503  San Rafael St, San Antonio, TX 78214

Description: Increase your cash flow with this under market value property in San Antonio, almost adorable cottage, magnificent large back yard, needs major help (conversation to a 3 beds 2 bath) in the flourishing San Antonio Market, 1503 San Rafael St., San Antonio, TX 78214, 2 beds, 1 bath, 912 sqft, lot size: .19 acres, estimated repairs: 50K, clean/lawn maintenance/interior paint/exterior paint, foundation, flooring, plumbing/electrical up to code, tile in bathroom floor, roof. Max After Repair Value: 149K

Price: $49,000 cash

Exit Strategy: Buy, rehab and rent  this San Antonio investment property for $850 per month

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SOLD – 3108 Vera Cruz, San Antonio TX 78207

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  • Address: 3108 Vera Cruz, San Antonio TX 78207
  • Year Built: 1958
  • Description: Tremendous cash flow investment opportunity – 2 beds 1 bath, only 36K, large back yard with large storage unit and an orange fruit tree, ARV:59-65K, $595-$650 monthly PI/TI.
  • Cash Price on San Antonio Fixer Upper:  $36,000 CASH
  • Exit Strategy: Owner Finance San Antonio under market value property  with 5K in repairs: then resell with: 3-5K down, $695 monthly PI/TI, 30 year amortization, 10% interest, Sales Price 59K-65K.
  • Sold and Rental Comps: rental-comps-3108-vera-cruz sold-comps-3108-vera-cruz
  • For more information, please contact us. 

More Images of This San Antonio Investment Property:

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