Please do not think that this message is meant to discourage you from purchasing solar panels for your residential home. As solar panels become more common, Realtors are seeing issues crop up that are specific to solar panels. Like in many other cities, San Angelo is experiencing a lot of door-to-door sales for solar panels. As homes are being inspected, we have seen homeowners paying a monthly lease fee, and the panels are not even hooked up properly to receive the energy savings.

It is becoming more common that I run across a homeowner who needs to sell their home but is not aware of how the solar panels will impact the sale of their property.

On a good day, solar panels are worth 3% - 4% of the value of your home. So, if you pay $50,000 - $60,000 upfront, be aware that most likely, you will not get that money back if you decide to sell your home.

In some situations the sale of your home will not net enough to pay off the mortgage and the cost of the panels. In this event you would need to bring money to complete the closing process. There is a chance you can have the buyer "take over" your payments, but this is not guaranteed or typical.

If you or someone you know is considering solar panels, make sure they know:

• How will solar panels impact the value of their home?
• Are they dealing with a reputable company?
• Be sure all of their questions are answered prior to starting the work.

MARKET REPORT & INTEREST RATES

Today the Fed meeting wraps up and new May inflation data is released. I have been waiting for inflation data to leak and it just did! Inflation looks to have cooled. The stock market futures just soared and the 10 year treasury just tumbled! Hopefully the good news hangs around for a while and I can report lower rates next week! 

Here is a look back at the last 30 days on our MLS for residential sales. I have pulled the different types of loans and interest rates for the 129 closings that took place. 

The breakdown by Type of Loan is a follows. There were 26 Cash closings, 1 Assumable, 22 VA, 34 FHA, and 46 Conventional. 

Over the past week we have 84 new listings, 35 closings and 48 homes going under contract. Inventory in San Angelo is still hanging around 450 homes for sale. We are seeing builders getting their homes completed so those numbers should be going up. 

San Angelo has 447 active homes for sale as of 6/12/24. Here is a breakdown of price ranges as well as a link to check them out.

Under 100k
100 - 200k
200 - 300k
300 - 400k
400k+

Feel free to share this newsletter with anyone who may be interested! 

Looking for your next San Angelo home, go to Search San Angelo Homes for Sale.

Want to know what is going on in or around San Angelo? Check out my Key Events, I hope to see you there.

LaFreta White, Assoc. Broker | Realtor @ ERA Newlin & Co. | 325.656.6896 | lafreta@sanangeloera.com