SABOR Keeping Posted March 2023

Disclosures

• Disclosures

• December Housing Market Statistics

• Upcoming Board Events

New Benefit for SABOR REALTOR® Members with MLS Subscription

All SABOR REALTOR® members who have an active MLS subscription now have access to the FOREWARN app.

The FOREWARN app is a proactive safety resource that allows members to verify the identity of their business prospects. This is not only critical for personal safety, but it's also a benefit for sellers because it provides an added layer of protection for their homes and families.

We are so excited to bring such an innovative solution that will help our members have safer

engagements and smarter interactions with consumers.

If you already have a FOREWARN subscription, you will need to contact FOREWARN about cancellation.

Sometimes REALTORS® ask who must fill out the seller’s disclosures. They specifically ask the question, “do my investor clients/owners have to fill out the Seller’s Disclosure?”

Some believe an investor client/owner does not have to fill out the disclosures because they have never lived on the property. This presumption is incorrect. Unless one of the other statutory exclusions applies, investor sellers must still fill out the Seller’s Disclosure.

Section 5.008 of the Texas Property Code addresses the law regarding disclosures. It does not have an exclusion from this obligation for investor clients/ owners. As with many other sellers/ owners of the property, investor clients/owners are required to fill out the Seller’s Disclosures to the best of their knowledge and ability.

If a seller does not have knowledge of the facts related to a particular disclosure, they can mark a question response or answer as unknown and still meet their disclosure requirements under the Texas Property Code.

San Antonio – The year ended with slight increases in average and median prices for all (new and existing) homes, according to the Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR), which reports all areas contained within the MLS. Average and median prices rose 6 percent each, now at $379,869 and $324,000, respectively. Residential rental also saw an increase of 8 percent, now at $1,810.

December saw 1,685 existing and 787 new construction homes sold with median prices of $305,000 (2 percent increase from Dec. 2021) and $354,995 (9 percent increase from 2021), respectively. Year-to-date home sales in the San Antonio area for all new and existing homes is reported at 36,477, down 10 percent from 2021. The average price for homes sold in 2022 was reported at $379,722, up 12 percent from December 2021. Meanwhile, the median price for all homes sold in 2022 is $323,000, an increase of 13 percent from a year ago.

“For the ninth consecutive month in 2022, homes sales saw a decrease, this time of 30 percent,” said Sara Briseño Gerrish, SABOR's 2023 Chairman of the Board. “This is the biggest year-over-year decline we’ve seen in the last couple of years. Compared to December 2021, homes were on the market for 59 days, that’s a year-over-year hike of 74 percent. 93.7 homes sold for their listing price with 3.2. months of inventory. The month ended with 1,697 pending listings, a decrease of 39 percent from 2021, 2,317 new listings, a decrease of 17 percent from last year, and 9,681 active listings, an increase of 101 percent.”

In December, Bexar County saw 1,704 closed sales, a decline of 32.3 percent from 2021. The price per square foot increased 4.9 percent to $169 and 94 percent of homes sold for their listing price. The average home price for the area had an increase of 6.9 percent, now at $354,965 and the median price increased 4.5 percent to $305,000. The other three major counties in the state, Travis, Harris and Dallas also saw increases, with median home prices being reported at $533,370, $314,400 and $335,000, respectively.

Across Texas, there were 23,398 homes sold, a decrease of 29.7 percent from December 2021. Average home prices increased by 2.5 percent and median prices by 3.2 percent. Homes stayed on the market for an average of 57 days, with 2.7 months of inventory and 93.4 percent selling for their list price. The state closed the month with 22,851 new listings, 77,726 active listings, and 18,488 pending sales.

2,473

$379,869

San Antonio Area January 2023

Average Price

Median Price $324,000

Total Sales

UPCOMING BOARD EVENTS

Thursday, March 2, 2023

Register Here

Moderator: Crystal Green

Panelists: Ana Warmke

Rodeana Reynolds

Rebekah Murtagh

$25

WELCOME NEW AFFILIATE MEMBERS

Cherry, Kathleen - TexCen Realty

Clark, Willard - Alford & Clark PLLC

Clark, Wyndy - REV Mortgage

Flores, Jose - All Heart Inspections

Goldberg, Jessica - Meritage Homes

Holmes, Dolly - The Tailored Closet and Premier Garage

Huynh, Trieu - Big 24 Team

Jeffries, Kurt - Compass Inspections, LLC

Leinweber, James - Leinweber Property Inspections, PLLC

McNiel, Annie - Gateway Mortgage

Mills, Jerrod - The Schrader Group Photography

Oliver, Jonathan - Hollywood Crawford Garage Doors

Padilla, Sonia - Guaranteed Rate

Pulliam, Yancy - Super Inspector

Roland, Meaghan - Guild Mortgage

Salazar, Oscar - Oscar Salazar, Inspector

Stich, Howard L - Buyers Protection Group

Stringfellow, Howard - Hays Inspections Services

Watts, Brandon - Definitive HDR Photography

Wright, Linda - Armadillo Home Warranty

Join the PAR-TEE and show your support for TREPAC on Friday, March 10 at the Brackenridge Park Golf Course! Teams of four or individual players are welcome to participate.

Price:

Individual Players - $125

Team of Four - $500

Mulligans - Two for $20, per player

The price includes breakfast, two drink tickets and lunch. Carts will be provided with two players per cart. If you register as an individual player, you will be placed on a team with three other players.

Registration Deadline: Monday, March 6 at 5 p.m.

Date & Time of Event: Friday, March 10, shotgun start at 8 a.m.

Location: Brackenridge Park Golf Course, 2315 Avenue B, San Antonio, TX 78215

Prizes for Teams:

First Place - Trophy and complimentary round of golf (per player) at Brackenridge

Second Place - Trophy and $50 gift card per player

Prizes for Individuals:

Men's & Women's Longest Drive- $50 gift card

Closest to the Pin- $50 gift card

Contributions to the Texas REALTORS® Political Action Committee(TREPAC), the Texas REALTORS® Federal Political Action Committee(TAR FedPAC), and the REALTOR® Political Action Committee(RPAC) are not deductible for federal income tax purposes. Contributions to the REPAC, TAR Fed PAC, and RPAC are voluntary and may be used for political purposes. The amount indicated is merely a guideline, and you may contribute more or less than the suggested amount. The Association will not favor or disadvantage anyone by reason of the amount of their contribution, and you may refuse to contribute without reprisal by the Association. Your contribution is split between TREPAC and TAR FedPAC. Contact the TREPAC administrator at 800-8739155 for information about the percentages of your contribution provided to TREPAC and to TAR FedPAC. The TAR FedPAC portion is used to support federal candidates--via contributions by TAR FedPAC to RPACand is charged against your limits under 52 U.S.C. § 30116.

Thank You to Our Advertisers

You're invited to join thousands of REALTORS® from across Texas at this year's REALTOR® Day at the Texas Capitol!

On March 22, travel to Austin with SABOR to meet with legislators on key industry issues and get an inside look at the legislative process.

The cost is $25 and covers your bus transportation to and from the Capitol, snacks and drinks on the bus, a barbeque lunch at the Texas REALTORS® building and a string backpack.

This is the first time since 2019 that the event is held in person, so don't miss out! Seating is limited!

Bus Pickup and Drop Off Locations:

Regal Live Oak Cinema: 7901 Pat Booker, Live Oak, TX 78233

Lowe’s: 7901 Callaghan Rd, San Antonio, TX 78229

If you have any questions, please contact Brett Finley at brett@sabor.com. You can purchase your tickets through the Member Portal.

We

BOARD OF DIRECTORS

Jesse Bugarin Kenny Cunningham Christine Denney Courtney Gill

Jan Hicinbothom Marty Hutchison Mari Mitchell Chad Nall

Anna Ramos Courtney Rosen Scott Small Ronnah Stabenow

Mindi Stange Ed Zapata

Chairman Sara Briseño Gerrish Chair-Elect William Curtis Secretary/Treasurer Reagan Williamson

Members-At-Large Donna Drayton Immediate Past Chair Tracie Hasslocher