San Antonio Real Estate Blog

Just read this interesting article from Yahoo Finance. It concerns the lowering of home prices in general across the US. It focuses upon the $400K price range, which to me is still considered the luxury segment here in Texas. I always remind my buyers who search in this price range within the city, that they are generally looking at $12,000 tax bill per year here in San Antonio. Also, if you add another 28% (tax bracket) to the $12,000, you really have to generate $15,360 in gross income to pay the $12,000. I hate to be a party crusher to my buyers, I just like them to be informed.

http://finance.yahoo.com/real-estate/article/107100/What-Will-400,000-Buy-Today

I am in the back seat of my wife's F150 working right now, heading back from Destin, Florida. We were there for a week, and it is one of the first time that heading back from a vacation, I still did not want to go home. Destin truly is a wonderful beach place. We stayed in a gated neighborhood called Destin Pointe. The architecture and surroundings were just beautiful. We stayed at a home called Emerald Waters. here is the link to the community: http://destinpoint.net/.

With that said, I just wanted to let you know that I posted April 2009's solds. I use to advise that usually a good starting price for making an offer is 6% less than asking. However, looking at the variance in the matrix, I am seeing variances jumping all over the place. Truly the market is a changing.

Creeate a great day!

Mark Cantu

Here is a good sign to let you know that you are getting old. View this link:

http://tv.yahoo.com/blog/outrageous-celebrity-homes--234

You see in the past, I would marvel at the sheer size and maddness of these homes. Nowadays, I look and say, "Can you imagine the taxes!"

Mark Cantu

It has been a long time since I last blogged. Honestly, the truth about websites is that I always wonder if there is any one really viewing my site or if I am just spending time and money to make myself feel good. I been in real estate for over 5 years, I been fortunate enough to one, to have lasted,  two, to have met a wonderful group of clients that have become friends. Three, to pursue a lifelong dream of becoming a Real Estate Broker.

This blog is dedicated to the several people who have called me, and asked me to post the SOLDS on my custom pages labelled SHAVANO PARK and ALAMO HEIGHTS. These figures really provide great insight into current market conditions in the areas, and also to sellers and buyers in constructing asking and offering prices.

To all of you - Thanks for keeping on me and motivating myself to do better. Create a great day!

Sitting in my parent’s home I am surrounded by memories of family and friends. I did not grow up in this house, and to be honest my parents had this home relatively a short amount of time prior to my father’s death, but even though, it is still my parent’s home.

In the back part of the home sits a large private den. Blue leather bound sofas face one another with matching blue ottomans between them. At the eastern side of these two sofas sits a matching recliner, it was here where my father always sat watching television. A table rests to the right of this chair, and on it there are all the remote controls, one to the TV, one for the cable, one for the VCR, one for the DVD, and another for the stereo. Next to all of these devices was the most important device of all, the telephone.

My father was avid sports fan. To be honest football season is going on right now, and though I never had too much interest in it, I do miss sitting in the room with him during the Cowboys games. Watching the games with him I would always be amazed at how many times the phone would ring. His friends would call almost every other commercial break. I was never too sure who to cheer for, because I learned at an early age, that even though we may be for Dallas to win on Sunday, it was far better to know prior to the game what the “spread” was. You didn’t want to root to hard for Dallas if my father took the other team and was given points.

In this room is only one hanging picture. It is a beautiful drawing of John Wayne. My father was not a big church going man, but I think you could say his whole philosophy of life was wrapped up in the characters The Duke played in his western movies. A strong sense of right and wrong, rugged individualism, humor, and happiness can be found in the Duke’s characters in watching these movies. It was all of these traits that my father’s life encompassed.

While I always subscribed to the philosophical idea of “Wherever you go, there you are.” I have to say, some places are more in tuned with our total existence than others, especially a home. Home can be any place, it can be a small one room flat or a colossal estate resting on a large lot – Home is where you make it. A home speaks about the core of our existence. It is the place where we come back to from a long vacation, and you know you have been somewhere, but now you are back. It is our identity. And, though, my father has passed away – coming back to this home reminds me of him in so many ways. Today, I am so thankful for these memories because they are all I have of him now. It is good to be thankful.

 “Your life is what your thoughts make it.” Marcus Aurelius

My father is dying. Yes, I write this knowing that within the next 48 hours or so my father will have passed. I don't really write this for sympathy so much as to ponder more upon the meaning of such an event. My father has been suffering with a terminal illness for some time. I am and I have been thankful to spend some of time over the last couple of months spending time with him on the weekends. My parents live 150 miles away from me.

How's this relate to the recently release movie, Brideshead Revisited? Well, I will tell you this. I recently viewed this movie as a form of escapism from the stressful life that I have been living. And, I know that the film is much shorter than the mini series, and of course maxi light from the novel, but I still found the movie noteworthy.

Without going into what the movie is all about, I will tell you one aspect of the movie that stood out from the rest. Brideshead Castle represents home. In the case of the film, home is not too good of a place. To say that this family who resides at the castle is dysfunctional is an understatement. In the case of the father, he has abandon his religiously zealous wife and children and he has taken a lover and resides in Venice.

Throughout much of the film the father is resented by the children but he is resented less so than the mother. The father counters his wife faith with a life of agnoticism. At the end of the movie, the father returns Brideshead to die. Before his death he accepts the last rights given by a priest. This event is a turning point between the two main characters of the film one being his daughter and the other being the central character who is in love with her.

Now, I don't think I am giving away too much in this writing, because there is a whole lot more going on in this film than the event that I have mentioned. But, I wanted to relate this event to my current situation. You see, the father returning home in this case causes a change in the entire family. It was like some of dysfunctionalism of the characters is washed away.

My father's pending passing has made me question some of the character flaws of myself. I see that a father, who in many cases is the first leader that we as offspring come to know. A father sets a tone for others to follow, and I know in many cases the same can be said of a mother. A father and mother are one. A team. As followers, loosing one of the key leaders of your life is painful. There is a void that occurs that will probably most likely never be filled.

My father was an extremely successful businessman. He started from very little and he dared to follow a dream. An American Dream, and he achieved it. So, while I may be loosing a father, a friend, and an inspiration, I find myself thankful for being so lucky, and yes, so blessed for sharing much of my life with this man.

How do I go on from here? I will always honor his memory with the concept of trying to be the best that I can be. To have the courage to achieve my life dreams. A father may die, but his wisdom endures. I am heading home, today.

One thing you should know when it comes to real estate, “It ain’t over until the fat lady sings!” I say this with the full acknowledgment that I am cutting my vacation early to go back to help a client find a home in a hurry. Of course, I thought by the time I left that we had a lot of the looking phase part over with.

My client who happens to be a buyer is looking for a nice home that is not too old with a pool inside of Loop 1604 or inner city for a good price. I am going to have to admit this right now; I was very surprised at what we found in San Antonio. We started looking in April and now it is the beginning of June. Homes that fit this range were much more available than they are now, especially, since the thermometer is beginning to hover at the triple digit range in the late afternoons.

Prior to leaving on my trip, we finally presented an offer on a home, and much to our surprised it was accepted. The seller is using a 1% company, and I do not like to bad mouth any company, but his representation on this deal is shall I say, limited at best. As a broker I have had to be extra cautious as to not cross the line. I have called his agent numerous times, and I have had no return phone call. The seller calls me constantly – and, I keep asking him to consult his agent for advice, I represent the buyer.

Anyway, as of the first day of my vacation a price was settled upon. I was instructed by the seller to leave the earnest money check and the option period check as well as the agreed upon contract with the seller at his home. His agent told him that she was having lunch, and she would pick up the contract and funds and then escrow the contract at the title company. Well, all that sounds good to me. This occurred on a Friday.

On Sunday, the seller calls me very early in the morning. He says, “Mark, I want out of the deal. I can not sleep or eat, and I just want out!” Again, I wonder why in the heck his Realtor is not calling me? And, I am a person who is sympathetic. The seller has Seller’s Remorse. But, there is a real issue here for me, because in our conversation he states that his Realtor has not escrowed the contract. So, the issue for me is when did this signed agreement become a contract? And, since I represent the buyer – my personal feelings are of little importance here, I need to present to my buyer all of her legal rights on this particular matter. Can she enforce the contract and proceed?

Well, this is what I told her. First, since the seller and the buyer have both signed and agreed upon the price and the terms, this is a contract even though it is not escrowed at the title company. The contract becomes enforceable as soon as there is a meeting of the minds. Second, do we really want to proceed with the process considering we need to do an inspection, which could cost up to $350? If we do, and we find that there is significant faults in the home, which I assure you that any one who sees an inspector’s report on a home often wonders by the end of the report how the home is even standing, how would we be willing to negotiate with the seller since he wants out of the original contract any way? Third, though it has struck me that there is the real possibility of this seller having another offer – concerning this particular property I still have uncertainty that it will even fully appraise. If you look at the price variations on the Alamo Heights and Shavano Park tabs on my website – you will see that prices are falling. It use to be that you would almost never see a listing go for less than 6% of its original asking price. This is not necessarily the case anymore.

I know that blogs are suppose to be short – but, I hope more than anything in writing this is that I can at least offer some sort of information that a person can use. In this situation, regardless of all the legal issues and value issues, what I told my client was, with all that is out there in the market, do we really want the one property where even before going through what is a really fun – crazy – stressful – and at times, even painful situation, do we really want to place ourselves at the mercy of a seller who is not really wanting to cooperate from the beginning? If he really chooses he can make this situation hell.

Luckily for me – my client the buyer has chosen to release this seller of his obligation. She could, if she had chosen sued him for damages. And, realize this, even though we are getting back all of our monies, my client has suffered a loss which in her case is more valuable than money right now, her time. Finally, an endnote concerning my client, my client and I as well, are both big believers in karma and positive energy in homes. The seller is recently divorce, and as pretty as this home is, there is an energy in the house that doesn’t seem so positive right now. My client and I are both looking forward to finding another house. Does this last piece of the puzzle seem odd to you? If so please feel free to comment about energy levels and homes, I would like to hear what any one has to say on this subject.

Create a great day!

Ok, this may seem far out! I just got finish watching the movie House Boat with Carey Grant and Sophia Loren. To be honest, I really don't watch that much TV, and when I do, I guess that I am just as guilty as many people, I do so because I am really, really, tired and it is one of the few things I can do while resting in my bed.

So, its Sunday afternoon and the only channel I watch is TCN, Turner Classic Movies, and what's on? Well, its Houseboat. The movie starts out in with three children surrounded in a luxurious East Coast estate dealing with the loss of their mother. The adults in the house seem trapped in their upper crust Waspy lifestyles. Suddenly, a dashing man, Cary Grant, enters the scene driving an old style Army jeep. He is the children's father and through a series a tick and tack situations makes the bold move to rescue the children from what seems to be an ideal life. The children leave the estate with their father to live in a small one bedroom apartment in Washington DC. The point the movie is making here is that at the core of American values is the concept that one of the most important aspects in life is the belief that a family bound together is better in the smallest of accommodations than the breaking up of the family members in separate locations. Also, metaphorically, the apartment represents the relationship that the father has to his neglected children, smallness.

Sophia Loren's character enters the picture as female goddess who comes to bind the trouble children to their father. Loren plays the spoiled European upper class girl who wants to experience real American culture, not just high class society. After meeting one of the children on her one day out alone from her father, she brings home the youngest child to Grant. Of course, she is dirty by this time having been with the child and Grant mistakes her for a common dirty foreigner, remember guys and gals, this show is made way before our PC culture. The discrimination is obvious throughout the show. Fortunately for Loren, even with dirt on her face, she is one of the most beautiful women to be on screen.

So - through some mishaps this newly constructed family with all of their flaws decides to move back to the East Coast Estate to live in what I am guessing is a mobile home type guest house that is to be placed on the property. A crazy Italian character is driving their new home across the train tracks to get to the property, and after seeing Loren he can not control himself and gets out of the truck to flirt with Loren. Of course a train comes down the tracks, and this newly constructed family's new home is now crushed by the train. I wondered upon seeing this if the movie makers felt that the only true home, is one that is some how attached to a foundation. I mean don't we as a culture place some type of stigma to mobile homes? And, what doesn't a mobile home have? Well, it doesn't have a true foundation.

So, the driver of the truck with Grant's new family's new home, is now destined to live in the dilapidated old houseboat of the driver for the night. The Italian driver of course lets Grant know that if he likes this home after living in it one night, Grant could buy it. The Houseboat, is falling apart. No one lives in it - it has no life. The boat is situated in an idyllic setting, surrounded by beautiful tall trees and resting on a large calm river. It, like all of the main characters is empty. It has not found its true purpose, and seems to be another lost soul, just as all of the other characters.

As the movie progresses the concept of home becomes more clear. The characters who at the beginning of the movie come from shallow wrecked lives, are by the end of the show bound together living a richly rewarding family life, and at the center of this new life is the houseboat, which by the end of show is the picture perfect family home. The boat is one of the true stars of the show. It represents the symbolic state of all of the other characters souls throughout the movie. To me, it is what made the whole movie work.

The writer, Robert Frost, declared that "home is the place where, when you have to go there, they have to take you in." Since the children in the movie lost their mother, the Houseboat seemed to assume the role as mother to all of the core characters. I forgot to mention that Loren's character had lost her mother also. It seems that the neglected houseboat takes in all of these lost souls and in doing so gains back its or her own soul. I mean think about it. A mother loves us unconditionally with all of our flaws. A mother takes care of us and she nurtures us to adulthood. The houseboat in this movie nurtured all of the characters from states of unhappiness to states of happiness and lovingness. And, at core to the whole movie rests the belief that home is where the heart is, even if a home is a houseboat. Who knew that Houseboat was really avante garde cinema?

Quick point: I posted February’s Homes Sold- www.CompanyUno.com – So, feel free to be Mrs. Gladys Kravitz from the classic TV show Bewitch, and see what homes actually sold for! Also, I always ask myself the same question when I see a home was on the market for so long, and then the owners take an offer more than 3% from their original asking price? By pricing the home right at first – you sell your home faster.

Ok, so as yawl may know, I am in the very beginning stages of remodeling. And, before I can do anything like build a fence, place a new roof on the house, or just about anything else, I have to first fixed the foundation. I should say that only half of the house is on pier and beam, this is the portion that needs to be fixed.

So, I am going into this part of the remodeling not knowing too much. I know, or at least at this time I am thinking that this surely has to be the most expensive project of the remodeling. I also know that after talking to three companies that foundation repair is not an exact science. The first company that I called was one the largest companies in the San Antonio area. I knew that this was probably going to be the most expensive bid. The guy that came out kept saying “Well, you know that there is a lifetime transferable warranty with our repair.” I thought, first, I really do not plan on being in this house for a lifetime. I do not want to be in this house for more than 6 more months. Really, I want to do this repair while this home is a rental so that way I can write off the repair as a tax deduction. His bill came out to be $5000.

Now, the second guy was a random individual who I took his card off the door to one of my listings. I am not too sure how to spell his long name, and my Spanish, while below average – it was at least good enough to get him out from his area to my area. When we met he seemed like a really nice man, however, he did mention that his claim to fame was that he was the guy that a certain star family uses in this town. After watching the way this star family operated in regards to business decisions and the way employees were treated I found myself in total disbelief that they must have actually watched the segments before they were aired, and they were proud of them. Anyway, the guy who came to my house – started with a bid of $16,000. As the days went by and the continuous calls came, he finally said at the very least he could do $12,000.