SABOR Keeping Posted March 2022

MARCH 2022

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OFFICIAL MONTHLY NEWSLETTER FOR SAN ANTONIO AREA REALTORS ®

Legal & Ethics

IN THIS ISSUE:

Rental Flood Disclosures

• Technology Updates to Help You

• Upcoming Board Events

• Legal & Ethics: Rental Flood Disclosures

• Welcome New Affiliate Members

• According to San Antonio Board of REALTORS® January Housing Trends, 2022 Started with a Bang for the San Antonio and Surrounding Area Housing Market

• Apply to Join SABOR’s Board of Directors • What is TREPAC? • Thank You to Our Advertisers

Technology Updates to Help You SABOR is excited to announce that our new website is live at sabor.com. The new website meets all five components of SABOR’s strategic plan: Elevate, Execute, Collaborate, Streamline, and Enhance. The site merges both the public and member sites in a cleaner, more organized format. The site provides modernized technology and improved user experience that will help drive greater brand awareness, improve consumer and member engagement, and set SABOR up to scale in the future. The site integrates with RAMCO features, streamlines content and member information, along with many other features. If you have questions about the new website, you can email communications@sabor.com.

Speaking of RAMCO, have you gone in and updated your profile? Making sure that your information is updated will prevent issues with contact information in MLS. Starting soon, RAMCO will feature an option to set up auto-pay for your quarterly MLS dues. The dues deadline is Friday, April 1, so this is the perfect time to go into RAMCO and make sure everything is correct. You will also have the option to give to TREPAC when you pay your quarterly dues. Want more information on TREPAC? Visit our new website at sabor.com to learn more.

The last technology update that is here to help you is ListTrac. ListTrac is a new tool that allows you to see how your listings are performing online in the MLS system, IDX sites, and different real estate portals. This tool offers several benefits to brokers and agents including providing an understanding of the activity on your listings compared to similar listings.

ListTrac is visible when you log into your MLS. For more information or if you have questions about ListTrac, please contact support@sabor.com.

SABOR is excited about these new technology updates and being able to offer them to our members.

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KEEPING POSTED El e v

During the 87th Texas Legislature, there was a change in the law that requires residential landlords to give notice to prospective tenants of whether they are aware that the property being rented is in a 100-year floodplain or whether it has flooded during the past five years. Texas REALTORS® has created a new addendum that allows the owner to make the required disclosures. This Addendum Regarding Rental Flood Disclosures (TXR 2015), will satisfy the new law’s disclosure requirements.

The law requires that this disclosure be provided to potential tenants prior to the execution of the lease. As with the seller’s disclosure, this disclosure should be made by the owner of the property. Brokers that complete a disclosure form on behalf of an owner could increase their liability for any inaccuracies and any mistakes in the disclosure.

For leases executed prior to January 1, 2022, the landlord should provide the notice when extending the lease or when it automatically renews.

There are consequences for failure to provide the disclosure notices. Under Section 92.0135 of the Texas Property Code, it states that if the landlord fails to provide the required notice and a tenant suffers a substantial loss (meaning the cost of repairing or replacing the personal property equals 50% or more of the personal property’s market value when the flooding occurred) or damage to their personal property, then the tenant may terminate the lease by giving written notice of termination to the landlord no later than 30 days after the date the loss or damage occurred.

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According to San Antonio Board of REALTORS® January Housing Trends, 2022 Started with a Bang for the San Antonio and Surrounding Area Housing Market San Antonio – According to January reports, 2022 started with an increase in average and median home prices in the San Antonio metro area. The average price saw a 17 percent increase landing at $351,226 according to the Multiple Listing Service Report for the San Antonio Board of REALTORS® (SABOR). Median prices saw a little larger increase of 18 percent to $304,700. Even with these large increases the area only saw a decrease of 1 percent of total sales with 2,521 homes sold. The month closed with 3,169 new listings and 3,159 pending sales.

“2022 is starting with a bang with 99.5 percent of homes closing at list price and the average home sitting on the market for 35 days,” said Tracie Hasslocher, SABOR’s 2022 Chairman of the Board. “We only saw a slight decrease in total sales but saw an increase in the number of pending sales at the close of the month.”

Price per square foot increased to $171 a 21 percent increase from 2021. The average home stayed on the market for 35 days, a decrease of 12 days from 2021.

Bexar County reported that the average price for the area increased 16.3 percent to $325,059 and the median price increased to $287,950, a 17.5 percent increase. 1,838 homes were sold, less than a 1 percent decrease from 2021. 98.9 percent of homes were sold for list price and the price per square foot increased to $161.

Across Texas, the average home sales price increased to $378,440, an increase of 16.9 percent, and the median price increased 18.9 percent to $315,000. 23,536 homes were sold which is a 3.8 percent increase from last year. January closed with 30,511 new listings, 29,657 pending sales, and 1.1 months of inventory. Price per square foot across the state increased 20.6 percent to $174, and homes spent an average of 37 days on the market.

Total Sales 2,521

Average Price

$351,226

Median Price $304,700

San Antonio Area January 2022

UPCOMING BOARD EVENTS March 2022

01

SABOR’s 2023 Board of Director Applications Open

01

Texas Joint Primary Election Day

Save the Date: April

21

21 - 22

Golfing Fore TREPAC

Texas REALTORS® 360 Real Insights Regions 7 & 13 Annual Meeting

A COMPLETE LIST OF COMMITTEE MEETINGS, EDUCATION COURSES, AND OTHER BOARD EVENTS CAN BE FOUND ONLINE AT SABOR.COM

WELCOME NEW AFFILIATE MEMBERS Ashley Cockhill - McMillin Texas Homes Chris Fouts - Aligned Mortgage Dilan Freeman - Bryan & Bryan Inspections Clayton Ivins - GreenWorks Inspection & Engineering Donna Mauer - FBC Mortgage Rodney McComas - Discover Inc Home Inspections Carolina Paz - Key Title Group Carlos E. Rodo - Marine 1 Home Inspections, LLC Jeanine Smith - Davidson Properties, Inc. Christine Spencer - Mutual of Omaha Reverse Blake Williams - Super Inspector

@SABoardREALTORS

@SanAntonioBoardofREALTORS

@SABoardofREALTORS

company/san-antonio-board-of-realtors

@SABoardREALTORS

@saboardrealtors

Apply to Join SABOR’s Board of Directors

Are you looking for a way to share your knowledge, energy, and passion for the local real estate community? Then apply for SABOR’s Board of Directors! As one of the largest associations in the country, members of SABOR’s Board of Directors are recognized on a local and national level for their dedication to the advancement of the real estate industry and the careers of SABOR’s over 15,000 local REALTOR® members.

The Role of a Board Member You may be wondering, what is the job description of a Director? The Board of Directors consists of 18 REALTOR® members, serving staggered three-year terms. They may serve up to two consecutive three-year terms. As the largest trade association in South Texas, and in the top 20 REALTOR® associations in the country, it is a significant commitment to lead this organization.

SABOR Directors are a fiduciary of the association. That means they have a special legal responsibility in connection with the administration, investment, and care of SABOR and its assets. This requires Directors to make careful, good-faith decisions in the best interest of SABOR and its members. Their decisions must be made independently and free of any undue influence from any person or organization, including any other association, MLS, or brokerage. They are charged with acting on behalf of the members by determining appropriate actions that best serve the whole membership, while the staff executes the daily management of the Board-directed policies.

Members of the Board of Directors have duties and responsibilities of governing our association, and the association counts on Directors to participate in deliberating issues that impact our members’ daily business lives.

The Board of Directors has the authority to: • Approve expenditures of the Association • Set dues • Set public policy positions as they pertain to the real estate industry • Establish governing policies of the Association • Approve member programs, products, and services Board of Directors meetings are typically held once a month.

How to Apply To apply, simply complete and submit the online application, and if you meet the eligibility requirements, you will be contacted for an interview with the Local Nominating Committee. The application is available at bit.ly/2022saborbod and opens Tuesday, March 1. Board of Directors applications close on Friday, April 22 at 5 p.m. If you need assistance, please contact communications@sabor.com.

What is TREPAC? The Texas REALTORS® Political Action Committee (TREPAC) is a non-profit, non-partisan organization that’s purpose is to raise and disburse funds to promote homes ownership, protect real property rights, and increase political awareness.

Through TREPAC, REALTORS® invest voluntary contributions to help candidates get elected who understand and support real estate interests. TREPAC backs local, state, and national candidates and elected officials who have a proven track record of protecting private-property rights, preserving the dream of homeownership, and supporting the vitality of the real estate industry.

Why is it important to invest in TREPAC? Through TREPAC, numerous pieces of legislation have been defeated or supported that made a crucial difference in how you do business every day in Texas.

For more information about TREPAC and to see TREPAC in action visit, sabor.com/About-SABOR/Government-Affairs/TREPAC. How can you support TREPAC? When going in to set up your autopay for MLS dues you can select the amount you want to donate to TREPAC every quarter. You can also join TREPAC at Golfing Fore TREPAC on Thursday, April 21 at Brackenridge Golf Course. Visit bit.ly/golfingforetrepac to register today!

For questions about TREPAC email, trepac@sabor.com. Will you help make a difference?

Thank You to Our Advertisers Platinum

Gold SWBC

Bronze

Barton Carpets Fidelity National Home Warranty Frontier Title

Jurassic Realty NARPM Netco Title, Inc

IBC Bank

NextGen Real Estate & Finance Old Republic Title Spire Risk Management

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