Top producing Realtor Missy Stagers has been selling homes and satisfying customers in and around San Antonio for over 20 years. In this article, Stagers points out a disturbing trend happening in the marketplace and offers consumers some solutions for dealing with rising property values.
The beginning of Stagers’ career was anything but typical. Both she and her husband were in the military and when children came along, Missy left the military to avoid the couple having to deal with separate duty stations. “We moved to San Diego where he was deploying and after a six month break, I decided I was not cut out to be a stay at home mom,” Stagers recalls. “I began a part-time job working as a marketing specialist for a real estate firm. That quickly turned into a full-time position where my responsibilities included handling all the printing and coordinating of the marketing materials for the agents in three different offices.”
When Stagers and her family were transferred to San Antonio and she landed a job with Sheldon Good and Company handling the marketing for a $30 million plus commercial real estate auction. “After six months and the auction was over, I decided that I really liked real estate, got my license and became an agent.” Stagers continues with a smile, “Now, 20 plus years later, here I am.”
When asked to provide a snapshot of what is happening in and around the San Antonio real estate market, Stagers replied, “Prices are rising in the more affordable range very quickly. This applies not just to the resale market, but to new homes as well.” Stagers elaborates, “In San Antonio we have seen a drop of over 20% in the market share of homes available for less than $200,000. Builders are barely able to make a home for less than that.”
Stagers makes a good point distinguishing each market. As the resale market is determined by supply and demand, prices rise when there is little inventory. This usually creates an opportunity for builders to construct and sell new homes, but not in this case, Stagers points out, “The builders do not have the ability to build and bring up supply in the lower price brackets so this creates a situation where buyers are in a bit of a predicament.” Stagers adds, “Buyers cannot afford to be very picky or to take too long to make an offer as they will likely be outbid and may never buy a property.”
Though the market does not sound very promising for home buyers in San Antonio, Stagers does have some suggestions to make the situation more manageable. “Getting approved for a loan has become much more difficult so it is important that you apply early and make sure you have all of your documents in order so you can reply quickly as well.” She adds, “Don’t hesitate to drive the neighborhoods you want. Sometimes signs go up before properties get listed online so you might have the opportunity to see the property before it sells.”
Stagers also emphasizes that being flexible and keeping an open mind are key for buyers. ” You may not get everything you want at once. Look at a property for what is has to offer in size, room count, etc. However, don’t get hung on the cosmetic items that are easy to change like carpet and paint. Communicate with your Realtor closely. Ask and look at the property information and recently sold property to make an informed decision,” she adds.
The most important thing? “Ask questions and make sure you understand the answers,” says Stagers adamantly. “Do not believe everything you see on the Internet, never buy a home without an inspection, and be aware of the surroundings. Check the area for flooding issues and check the sex offenders site before making any decisions.”
In a strong sellers market like the one San Antonio is experiencing now, Stagers summarizes with this sound advice, “Prepare for delays and don’t ever think that a date is carved in stone. Again, keeping an open mind will remove a great deal of stress and make your buying experience much more tolerable.”
Stagers has been featured on numerous San Antonio living shows, KENS five and other news snippets for San Antonio. She is also a Real Trends top 1000 agent for all of the U.S. Anyone wishing to learn more about Missy Stagers or her team is encouraged to visit her website at: http://www.missystagers.com.