22 Sep Texas Real Estate Market Update – September 2020
San Antonio Real Estate
Just Keeps Going
Despite of the challenges we have faced in San Antonio due to COVID-19, the market is active. Housing prices are going up and mortgage rates are going down. The market may weaken as time goes on but for now, we’re doing great!
Doctors are making more housecalls – and there are opportunities for you and your pet to do some volunteer work. The weather is starting to cool, making it even more inviting to go exploring the outdoors (while maintaining safe social distances, of course).
Business and Industry
in the San Antonio Area
Business Re-opening Activities
Across the region, some things are starting to look a little more like the old normal while customs and practices in other areas have morphed into a new normal. Efforts to reopen schools and businesses move at a snail’s pace to avoid another spike in coronavirus cases. In certain sectors, COVID-19 has inspired new workarounds that may be here to stay.
Oil Industry Outlook
The best measure of the oil industry in our area is the number of permits that have been granted for the drilling of new wells. Sadly, this number has bottomed out again. We may not see a significant rebirth of oil and gas production – which provides jobs and tax revenues in our local economy – until COVID-19 lockdowns are eased around the world. When people start driving again, they will need Texas oil!
San Antonio Trends
We have come full-circle when it comes to the way we interact with our doctors. Not many of us remember American doctors making housecalls when patients were sick or injured, but it is chronicled in movies from the 1930s and 1940s. At the point when most Americans had access to cars or public transportation, doctors discovered they could stay in their offices and let the patients come to them.
In the 1990s, modern telemedicine became a practical reality in educational institutions who had early access to the internet. It has become increasingly popular and feasible but had not gone mainstream until the last few years. With many doctors – and patients – feeling that in-person appointments were the best medicine, telehealth hung in the background as a backup option for many.
COVID-19 has catapulted telemedicine into first place as the go-to means of conducting doctor’s appointments. Many patients are following stay-at-home orders and would rather not physically walk into a hospital, doctor’s office, or urgent care center; doctors and other medical personnel would like to minimize the traffic in their workplaces to minimize the risk of exposing their patients to the coronavirus.
So here we are. If you call the office to say that you are ill and need to see your doctor, you will likely be asked if you would like to make a telehealth appointment. When your doctor “sees” you for your appointment, they go through your medical history and your current symptoms and complaints through webcams on the internet. You get a housecall from your provider, and nobody has to gas up their car to make it happen.
This takes us back to the discussion above. All of these handy things we now do without burning fossil fuels are great – but not for our local oil economy.
Take a walk in Texas Hill Country
Texas Hill Country:
Fun Things to Do (Safely)
While we may not be able to pack into crowded sports stadiums or stand shoulder-to-shoulder at a rock concert, San Antonio has a lot of fun and entertainment to offer – and much of it is free or downright reasonable. Yes, we are talking about the great outdoors!
If you live in one of the outlying areas of San Antonio to the north or northwest, you probably already know a lot about exploring the Texas Hill Country. If you are unfamiliar with our hills, this is a perfect time to get acquainted.
Bulverde is a short drive from downtown San Antonio, and calls itself “Front Porch to the Texas Hill Country”. Driving is fun and picturesque, but the many roads and trails in the area are great for walking, running, biking, and hiking. I have helped clients buy and sell property in Bulverde – click here to read more.
Boerne is also a short drive from downtown San Antonio, and it lies in a part of Texas Hill Country. If you like golf, nature preserves, and scenic trails, you owe it to yourself to check it out. I enjoy working with real estate clients in Boerne – click here to read more.
Back to School For All
In-Person Classes for Some
All of the school districts in the San Antonio area started the year with online-only classes. Now, they are starting to bring students into the school for in-person classes. This is being done very carefully – a little at a time – with a system in place for bringing the process to a halt if there is another surge in COVID-19 cases in our area.
School district leaders are working closely with the health departments in their counties to try to get schools fully re-opened for in-person teaching as safely as possible. Private schools may be making these changes on their own timelines rather than following the lead of public schools. If you are moving into the San Antonio area soon and plan to send your children to a private school, you should check directly with that school for updates.
Schools are slowly expanding in-person classes
Most classes are still online-only, but stay tuned
DOGGIE LOVE at Harbour Hospice – not just for the dogs
If you have a dog or cat who loves meeting new people, call the volunteer coordinator at Harbour Hospice to find out how you can share the love with patients that really need a little cheer. Taking your best friend to provide pet therapy is a noble act – and it’s also fun!
To go to VolunteerMatch.org to learn more about DOGGIE LOVE at Harbour Hospice, click here.
Texas Real Estate Market Metrics:
What does it all mean? Housing prices, sales, and new home construction are going up, and mortgage loan rates are going down. The line between “buyer’s market” and “seller’s market” is beginning to blur, but it is still a great time to buy.
It’s hard for a buyer to say no to interest rates that have dipped below 3% even though home prices have risen slightly. On the other hand, it might be time for sellers to start getting serious about listing their homes as the market continues to increase.
In the July Monthly Update post, I predicted that the market would begin to surge when COVID-19 lockdowns ease. We are in that phase right now, but there is uncertainty about the future; if we – as a country – don’t come up with a good solution for the people who are unable to make their mortgage payments due to the pandemic, we could end up with a glut of foreclosed properties flooding the market. Stay tuned!
If you have a great realtor®, they can help you navigate the waters to buy or sell wisely, even in these tumultuous times. Let’s talk!
Good time to buy, even though prices are increasing slightly
Click below to get a feel for the current San Antonio real estate market, but keep in mind that searching for the perfect house is a big deal.
Step up your game by having me monitor the Multiple Listing Service (MLS) for you, so you can react quickly when a great property becomes available.
Reach out to me to challenge my commitment to be your mentor and partner every step of the way. See what it really means to have…
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2241 NW Military Hwy STE 302
San Antonio, TX 78213