As the end of the year approaches, it's the perfect time to reflect and revisit some key insights that can help you navigate the world of real estate as we move into the new year. Whether you're looking to buy, sell, or simply stay informed, here are a few blogs from the past worth revisiting:

1. Why Pre-Approval is So Important When House Hunting
If you're considering buying a home in the near future, understanding the importance of pre-approval can make all the difference. This blog breaks down how being pre-approved can help streamline your home-buying journey and give you an edge in a competitive market. Don't miss out on this key step!

2. Solar Panels and Selling Your Home
Solar panels are becoming increasingly popular, but do they add value to your home? In this blog, I discuss how solar energy can impact your home's marketability and what buyers are really looking for. If you're a homeowner with solar panels or considering an installation, this is a must-read.

3. How Accurate is an Online Value Estimate of Your Home?
Have you ever wondered if those online home value calculators are accurate? This blog dives into the pros and cons of relying on automated estimates and why it's still important to consult with a real estate professional for a true picture of your home's value.

4. Sleigh the Gift Game by Shopping Local
Since Christmas is upon us in less than a week, for those still searching for that perfect gift, check out my blog on Sleigh the Gift Game by Shopping Local. Supporting local businesses not only spreads holiday cheer but also gives you the chance to find unique, thoughtful gifts for everyone on your list. It's not too late to make this season extra special!

I hope these blogs continue to provide value and insight. Wishing you and your loved ones a joyful holiday season and a wonderful start to the new year!

MARKET REPORT

Home sales have gotten a bad wrap from the national media in 2024. We all know interest rates have been higher (see above) than in the Covid years and inflation has taken over the country. It seems everything costs more money these days. The San Angelo real estate market has hung in there. Average home prices are the same as they were in 2022 & 2023. We are sitting at 1325 residential sales for San Angelo so far this year. There should be close to 50 closings in the next 2 weeks which will put us at 50 sales fewer than 2023! That is pretty consistent. We have way more inventory and that has allowed buyers to go look at houses, check on their finances, talk to their mortgage lender and then make a decision whether to make an offer or not. A couple years ago buyers felt extreme pressure to make an offer over the asking price and just hope their offer was accepted.

The real estate market we have at the moment is much more stable. So far this year San Angelo residential sales have seen 308 cash sales, 429 conventional loans, 321 FHA loans and 408 VA loans close. 

There are 527 homes for sale in San Angelo, TX.
Check them out below! 

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

INTEREST RATES

It looks like the Fed may drop the overnight bank rate by 1/4 point this week. This decision is getting mixed reviews,  but mainly negative,  from the economists. This has already been baked into the 10 yr treasury yield, so mortgage rates are not going to be affected. The current outlook is that we will see mortgage rates stay where they currently are for the start of 2025 and throughout the first quarter of the year.  The days of 3% mortgage rates are gone for now but hopefully they will get down in the lower 5% range. There is a chance this happens in the last part of 2025, but it is WAY too early to tell. Below is a chart of where we are right now. Below that is the history of the Conventional rates... 

Feel free to share this blog 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.