Randolph, Lackland and Fort Sam Housing: Local Real Estate News
posted Dec 02, 2013
Are you on the market for off-base Randolph, Lackland or Fort Sam housing? Are you hoping to upgrade from a local rental to your very own home in the future? Then it’s time to start studying up on the San Antonio real estate market. By staying apprised of the local market, you can learn valuable information about when to buy, where to look and how to get the best deals.
Here’s what’s going on in the local real estate market this month:
KB Home Opens New Community
Well-known builder KB Home has just announced plan to open a new family neighborhood in the Northwestern portion of San Antonio. The community, named CrossCreek, will be located on FM 1560, between Culebra and Schaenfield Roads, and it’s set to feature around 600 homes total. KB Home plans to build both one- and two-story units ranging from 1,516 to 2,403 square feet in area.
RealtyTrac Sees Success with Investors
According to RealtyTrac, San Antonio has recently become a popular area for real estate investors. RealtyTrac shows that of the $5.7 million in local home sale transactions made this September, a whopping 14% stemmed from investors. RealtyTrac credits this surge to changing investment tactics. Whereas investors previously purchased homes in only high-dollar markets, they’re now starting to migrate more to medium-priced homes below the $200,000 mark.
Lennar Launches West San Antonio Neighborhood
Lennar has begun marketing its Potranco Run community, located west of Loop 1604. The neighborhood will offer buyers 14 different floor plan options, ranging in square footage from 1,600 to 2,808. Prices will start at $190,000 and go up to $240,000. Two welcome centers can be found in the neighborhood for interested buyers.
Retail, Industrial and Office Developments on the Rise
It seems the commercial industry is on the rise in San Antonio, as local vacancy rates for industrial, office and retail space continue to fall. Statistics show that San Antonio’s vacancy rate has dropped by nearly 34% over the last year. Additionally, according to numbers from the first three quarters of 2013, the city’s industrial sector has grown by more than 1.1 million square feet in just this year alone. While this increasing demand has pushed rental rates up for industrial and commercial customers, it’s also given way to many more retail, dining and employment opportunities for local residents.
Luxury Apartment Complex to Launch in Alamo Heights
Stillwater Alamo Heights Development LLC has announced plans to develop a luxury apartment complex near the Alamo Heights region of San Antonio. The complex will be located on a $863,000 parcel of land located at 6419 N. Vandiver Road. It is set to include 107 units total, and construction is expected to be underway as early as next month. The estimated completion date is December 2014.
Study Shows Steep Price Difference in New and Older Homes
According to a recent study by RealtyTrac, called the Aging Home Analysis, single-family homes built before the 1990s offer buyers a much more affordable option when compared with newer models. In fact, the study shows that post-1990 homes ran an average price of $256,000. Homes constructed before 1990, however, came in at around only $233,000. Not surprisingly, because of this, older homes outsold newer homes in 2013 as well. RealtyTrac found that pre-1990 properties accounted for 60% of all homes sold that year.
Need Help Finding Your New Home?
If you’re looking for off-base Randolph, Lackland or Fort Sam housing, Housing 1 Source can help. Check out our listings for Fort Sam housing or rental options or contact one of our relocation specialists today.