JUNE 2022
Co
l l ab
o
e
ne
li
c
St r e a
m
en h
OFFICIAL MONTHLY NEWSLETTER FOR SAN ANTONIO AREA REALTORS ®
IN THIS ISSUE: • June is National Homeownership Month • Legal & Ethics: Contract Validity • According to the San Antonio Board of REALTORS® April housing trends, 2022 remains steady for the San Antonio and Surrounding Area Housing Market
Legal & Ethics • Upcoming Board Events • Welcome New Affiliate Members • Events at SABOR • New SABOR Social Media Account • Thank You to Our Advertisers
June is National Homeownership Month There’s really no place like home – and there’s no better time to recognize that than now. Across the United States, June is Homeownership Month. It’s a great time to share our stories and create opportunities for future homeowners.
place that can help build wealth that can be passed down to generations to come.” The website also states the dream of homeownership and the security that comes with it may be out of reach for too many people. For this reason, HUD is committed to supporting sustainable and affordable homeownership opportunities to help low and moderate-income first-time homebuyers. They are constantly enhancing tools and resources to make mortgage financing more accessible. All their efforts also help you as a REALTOR® to better serve your clients as you help them on their journey of finding their perfect home.
Back in 1995, President William Clinton’s administration began National Homeownership Week to promote homeownership across the United States. Fast forward to 2002, President George W. Bush expanded the observance to last the whole month of June. Today, we celebrate the value that owning a home brings to families and neighborhoods across the country, while also highlighting This month, NAR encourages the efforts to help them achieve that REALTORS® to celebrate with the American Property Owners dream. Alliance by joining the conversation According to the U.S. Department of on social media. Share your clients’ Housing and Urban Development’s homeownership stories and read (HUD) website, “a home is more about how others were able to than four walls and a roof. It is our achieve their house dreams with bedrock-a place that serves as a bridge help from a REALTOR®. Just use to greater opportunity and a better #OwnersandNeighbors on social life. A home can connect us to better media to amplify your voices this jobs, more affordable transportation month. options, and communities with cleaner air and cleaner water. It is a
nc
Ex e
ra
a
ut
te
e
te
KEEPING POSTED El e v
Contract Validity Some questions that have been asked recently are related to contract validity. One example is a call where a seller’s agent was asking if their client had a valid contract when the buyer had not paid the earnest money yet. Generally, a contract is binding when the parties have executed the agreement, regardless of the delivery of earnest money. Earnest money is commonly a buyer’s obligation under a valid contract and not a condition required for the formation of a contract between the parties. The failure to pay earnest money does not normally give a party the right to walk away from the obligations under the contract. If your clients believe they have this right under the contract, you should tell them to discuss the matter with an attorney of their choosing before making any decisions related to their contractual performance obligations.
a
According to the San Antonio Board of REALTORS® April housing trends, 2022 remains steady for the San Antonio and Surrounding Area Housing Market The month of April showed a slight cooling in home sales for the San Antonio area. 3,255 homes were sold compared to 3,524 in April 2021, a 7.6 percent decrease. The average home price is now $395,847, a 20 percent increase from last year. The median home price also saw an increase of 23 percent from last year, now at $338,700. April closed with 4,260 new listings, 4,800 active listings, and 3,290 pending sales. All numbers mentioned are according to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), which reports on all areas contained within the MLS.
Total Sales 3,255
“As the year progresses, we continue to see an increase in average and median home prices in the San Antonio area,” said Tracie Hasslocher, SABOR's 2022 Chairman of the Board. “Homes stayed on the market for 31 days, a decrease of 7 days from 2021. 101.9 percent of listings sold for its list price, with 1.4 months of inventory. The price per square foot also increased 23 percent from April 2021.” The San Antonio-New Braunfels MSA report showed April with a total of 3,308 closed sales, 4,276 new listings, 4,460 active listings and 3,221 pending sales. Days on the market went down to 30 days, compared to 36 days last April. The average price for a home in the area increased to $395,377. The median price also increased to $327,000 from $275,000 last year. In April, Bexar County reported the average home price for the area increased 16.4 percent to $364,275 and the median price increased 18.5 percent to $314,000. Other major counties in the state also reported an increase in median home prices. Travis County is sitting at $656,000, Harris Co. $337,383, and Dallas Co. at $380,000 in median home prices. In total, 2,302 homes were sold in the Bexar County area. That is a 7 percent decrease from April 2021. 102.4 percent of homes were sold for list price and the price per square foot increased to $174, up $28 from a year ago. Across the state, 31,961 homes were sold in April, a 2.4 percent decrease from 2021. The average home sales price increased 16.9 percent to $437,695. The median price increased 19.3 percent to $352,000. The price per square foot increased to $195, a 21.1 percent increase from the previous year. In the month of April, Texas closed with 43,166 new listings, 34,733 pending sales, and 1.3 months of inventory. Across the state, homes spent an average of 30 days on the market, 6 less than in 2021. 102.1 percent of homes sold for their listing price.
Average Price
$395,847
Median Price $338,700
San Antonio Area April 2022
UPCOMING BOARD EVENTS June 2022
1 23
SABOR 2023 Committee Applications Open YPN's Trivia for TREPAC
6 - 10 30
NAR's REALTORS® Are Good Neighbors Volunteer Days Texas REALTORS® 2023 Committee Application Deadline
A COMPLETE LIST OF COMMITTEE MEETINGS, EDUCATION COURSES, AND OTHER BOARD EVENTS CAN BE FOUND ONLINE AT SABOR.COM.
WELCOME NEW AFFILIATE MEMBERS Jacob Andrews - Mainline Services LLC Carie Arredondo - Arredondo Group, LP Annalicia Benavides - Amarillo National Bank Chalin Brown - Inspector Stephen Countryman - Frost Bank Guadalupe Garza - Sharp Frame Media Elsa Hamel - Birdy Maintenance, LLC Davood Keshmiri - Gateway Mortgage Group Reed M. Peterson - Max Home Inspections Daniel Rossetti - Always Done Right Home Inspections Patrick G. Segler - 830 Home Inspection Erin L. Stark - Gateway Mortgage Group Michael Thompson - G.C.I Real Estate Inspectors Natalie Thompson - The Mortgage Network Rachelle Thompson - The Mortgage Network
@SABoardREALTORS
@SanAntonioBoardofREALTORS
@SABoardofREALTORS
company/san-antonio-board-of-realtors
@SABoardREALTORS
@saboardrealtors
Upcoming Events at SABOR REALTORS® are Good Neighbors Volunteer Days As a REALTOR®, giving back to your community is part of what you do and who you are. From June 6 - 10, SABOR members are partnering with several local nonprofit organizations as part of NAR’s REALTORS® are Good Neighbors Volunteer Days. This year, we are partnering with the San Antonio Food Bank, Texas Diaper Bank, San Antonio ISD, Ronald McDonald House Charities of San Antonio, and the City of San Antonio Animal Care Services. To everyone who signed up, thank you for all your efforts and for making a difference in our neighborhoods. Housing Fair In collaboration with the San Antonio Association of Real Estate Brokers, SABOR’s Diversity Committee is hosting a fair housing event to help provide education and information to our members and community about fair housing. It’s happening on Sunday, June 12 from noon – 2 p.m. at Hemisfair Park. This is a completely free event; members are encouraged to participate. Trivia for TREPAC On June 23, SABOR members will test their knowledge at the Young Professional Network’s (YPN) Trivia for TREPAC event. This is a great opportunity to invest in TREPAC while having fun with some friendly competition. Check-in begins at 5:30 p.m. and the game will run until 8 p.m. You could play as a single player for $30 or as a team of up six people for $180. The deadline to register is Tuesday, June 21 at 5 p.m. You can sign up to participate through the member portal. If you would like more information, contact Brett Finley at brett@sabor.com. Open Applications Applications are now open to be part of a 2023 SABOR Committee. There are more than 10 committees where you can get involved, lend your insights and expertise, and help shape the future of SABOR. Some committees are limited in size, so it’s recommended that you apply for up to three of them. To read about what the different committees do and to apply, head to sabor.com. Applications close Sunday, July 31.
Thank You to Our Advertisers Platinum
Gold IBC Bank SWBC
Silver
Capital Farm Credit Coldwell Banker D'Ann Harper, REALTORS® Home Builders Inspection Group Jefferson Bank Legacy Mutual Mortgage
Movement Mortgage NARPM Old Republic Title Real Estate Newsline SABOR
Bronze
American Home Shield Becker Properties Barton Carpets Central Hill Country Board of REALTORS® Cher Miculka - Exit Premier Realty Fidelity National Home Warranty Four Rivers Association of REALTORS®
Fresh Coat Painters Frontier Title Gold Financial Services Goosehead Insurance -The Sparks Agency Hancock Mortgage Partners Jurassic Realty Kerrville Board of REALTORS®
Netco Title, Inc NextGen Real Estate & Finance Stewart Title Spire Risk Management Walthall, Sachse, and Pipes, Inc.
BOARD OF DIRECTORS Chairman Tracie Hasslocher
Chair-Elect Sara Briseño Gerrish Monique Bordelon Jesse Bugarin Donna Drayton Katie Griffin Ross
Secretary/Treasurer William Curtis Jan Hicinbothom Marty Hutchison Chad Nall Anna Ramos
Members-At-Large Kevin Crawford | Reagan Williamson
Courtney Rosen Scott Small Ronnah Stabenow Mindi Stange
Ed Zapata
Immediate Past Chair Cher Miculka