By Barbara Coker, Directions Equity

Vol.XXXII, No.13
July 1, 2014
How to Get Rid of Private Mortgage Insurance
By Barbara Coker,
Directions Equity
U.S. Postage
San Antonio, Texas
Paid Permit #1957
REALTORS® are expected
to be fairly knowledgeable on
many mortgage finance topics.
Private Mortgage Insurance, or
PMI, is one example that is often
misunderstood. Is PMI a good
thing or a bad thing? Why
would a buyer need it, and how
can a buyer get rid of it? Your
buyers might ask you these
questions, and you should have
a basic knowledge of these
issues. Even so, a wise Realtor
should also refer their buyers to
a well-experienced local
Mortgage Loan Officer to analyze their best options.
The purpose of any insurance is to cover “risk.” For the
mortgage lender, the risk of loss
naturally rises as the down payment amount falls. With a 20%
down payment, conforming
guidelines (Fannie Mae and
Freddie Mac) find the risk level
acceptable enough to avoid the
need for extra PMI protection.
So a conventional buyer who is
unable or unwilling to invest the
whole 20%, either needs to purchase PMI or secure a “piggyback” or second lien to cover
that risk. Both are good options,
and your experienced loan officer should explain to your buyer
the pros and cons of each.
Obviously, when the smaller 2nd
lien is paid off, that payment
stops. However, there are several ways to terminate or cancel
the PMI, and there are clear distinctions between those words.
There are three scenarios to
remove PMI: Automatic
Termination, BorrowerRequested Cancellation based
on original property value, and
Cancellation based on current
property value.
The Homeowners
Protection Act of 1998 (HPA)
established Termination and
Cancellation protocols based on
the Original property value.
Furthermore, Fannie and Freddie
already had Cancellation protocols based on the Current property value. Lenders must give a
PMI disclosure specific to the
HPA of 1998, and that disclosure
does not specifically refer to
older protocols. Some buyers
might end up with the mistaken
idea that they can’t still request
cancellation on the current
HPA of 1998 Termination is
automatic upon the earliest of
either the balance reaching the
midpoint of the original term, or
reaching 78% of the original
property value. This is for
owner-occupied single family or
second home loans closed on or
after 7/29/1999. The loan must
be current on the termination
date. The LTV’s are slightly
higher for older loans and multifamily properties.
HPA of 1998 also allows the
borrower to request cancellation
of PMI when the balance reaches
80% of the original property
value, with certain stipulations.
80% for one-family principal residence loans and second home
loans; 70% for 2-4 unit principal
residence and investment property loans; 70% for second
mortgages, calculated using the
combined outstanding balances
of all mortgages. The request
must be in writing. The loan
must be current, and have had a
good repayment history for the
last 24 months. There can be no
subordinate liens, and the borrower must show that the value
has not decreased.
Cancellation based on current
property value has been a
Fannie/Freddie option for years.
In the first 2-5 years of the loan,
the LTV’s are a little tighter.
75% for one-family principal residence loans and second home
loans; 70% for 2-4 unit principal
residence loans, and investment
property loans. But for 5+ years
it eases a little: 80% for onefamily principal residence loans
and second home loans; 70% for
2-4 unit principal residence and
investment property loans; 70%
for second mortgages, calculated
using the combined outstanding
balances of all mortgages. There
are certain stipulations. Again,
the request must be in writing.
The loan must be current, and
have good repayment history for
the last 24 months. The lender
must secure proof of the current
value with an appraisal at the
borrower ’s expense.
Conventional loans with
PMI have become more attractive since FHA now requires the
MIP to remain for the life of the
loan on the high loan-to-values.
Loans with PMI as opposed to
the piggy-back versions might
be easier to secure automatic
underwriting approval, and they
are often slightly better priced.
July 1, 2014
TAP FCU Spring
“Teach Your Youngsters About Savings” Event
Weston Hoppe
high-5s Kirby
Kangaroo as he
learns the difference between
a savings
account at TAP
FCU and his
piggy bank.
Real Estate Newsline is published semimonthly by
Carver Communications, Inc., as a nonsubscription
publication for the more than 7,500 members of
the San Antonio Board of REALTORS (SABOR).
Charles Stewart, Icon Realty is all smiles after
setting up accounts for Elijah and Carla who
hope they will be winners of the bicycle drawing.
Publisher/President .............Jeff Carver
Managing Editor..........Candace Carver
Sales & Marketing .............Candi Meyer
Cell - 557-8722
Contributing Writers: ......Cathey Meyer
..................................................Pat Farrell
Columnists ...........................Corie Boldt
...........................................Missy Stagers
(210) 308-9334
Carver Communications, Inc., is a member of the San Antonio Board
Real Estate Newsline is not responsible for opinions or facts
expressed by nonstaff writers or for errors and any byproducts in
advertising or editorial copy.
REALTOR® is a registered trademark. The word REALTOR® sometimes appears in this paper without the registered trademark symbol (®), for the purpose of saving
space. Wherever the word REALTOR appears in this
paper, the registered trademark should be assumed.
We welcome submissions of photos, press
releases or articles.
Send to:
Real Estate Newsline
Keilyn Hoppe is not as receptive to Kirby Kangaroo as
her brother was but her folks Melissa and Gregg
Hoppe opened her savings account too.
With Rachael Robinson’s help Barbara del Amo,
Keller Williams Legacy sets up savings accounts for
her lucky grandchildren who are living in California.
P.O. Box 33862
San Antonio, TX 78265-3862
FAX: 308-9229
E-MAIL: [email protected]
[email protected]
Please include a self-addressed
stamped envelope if material is to be returned.
July 1, 2014
By Missy Stagers
Chairman, San Antonio Board of REALTORS®
Join SABOR on July 25 for the General
Membership Breakfast
If you’re like me, you cheered
on the Spurs and celebrated their
victory in June to become the NBA
Champions. A top-notch basketball
team is just one of the many assets
that attract people to San Antonio
along with affordable home prices,
historical landmarks and sunny
weather. With so many people relocating here every day and business
booming, it is important to stay connected with what is happening in the
real estate industry and how it can
affect your business.
One of the best ways to get
connected and learn the latest about
what is happening at your Board and
in your state is to attend the General
Membership Breakfast at SABOR on
July 25. There is no cost to attend
and breakfast will be provided. The
morning will feature the Region 13
update from the Texas Association of
REALTORS® as well as a report from
the SABOR Nominating Committee
and proposed changes to the SABOR
bylaws. You will have the opportunity to vote on the slate for the 2015
Board of Directors and the proposed
bylaws changes.
This is an excellent opportunity
to catch up with your fellow REALTORS® over breakfast while gathering essential information as we continue with 2014 and get ready for
2015. Breakfast and registration will
begin at 8:00 a.m. with the program
at 8:45 a.m. Register on IMS and
learn more at
The San Antonio Board of
REALTORS®, at the General
Membership Breakfast to be held on
July 25, 2014 at 8:00 a.m., will submit
for a vote the following proposed
bylaws amendments. The recommended changes are:
• The committee recommends
that language be included into the
bylaws that limit those who can
serve on the Board of Directors to
Primary members only.
• That those members who are
or will be serving on the Nominating
Committee for SABOR Board of
Directors positions are prohibited
from nominating candidates to be
considered by the Nominating
Committee on which they are serving or will serve. The only exception
to this rule would exist when no
other name has been put forward for
a particular position at which point
members of the Nominating
Committee may nominate candidates
for an otherwise uncontested position.
• That the definition of what
constitutes a quorum for the nominating committees be amended. The
proposal recommends the removing
of alternates from the committee and
increasing the number of Board of
Directors members by one creating a
total number of 11 members. The
necessary members of 7 to conduct
business will remain the same.
July 1, 2014
Cecilia Sosa,
North American
Title and Tami
Stillings, Keller
Williams Heritage
at the Keller
Williams Margarita
Meet Jordon
Anthony Smith, first
Grandbaby for
Marie Williams with
VanDyK Mortgage.
Lacy Padilla, KB Home, Richard Cromer, C-21 Scott Myers and Tyler Buske enjoy
the KB Home Open House at Northeast Crossing.
Tex Smallwood with Paula Boyden and Jerry Smallwood, both of Keller
Williams Legacy at their Happy Hour at La Hacienda.
Mary Ann
Jeffers, Reliance
Realty with
Derrick and
Julianne Hough
from Dancing
With the Stars
here in San
Doris Follett, Joyce Bradfield and Kristy Bradfield Petlin, all with BH&GRE
Bradfield Properties as they celebrate Flag Day at The Club at Sonterra.
Susan and Steve
Shuemate, both of
Keller Williams
Heritage with
Cindy Kolmeier,
New Penn
Financial at the
Keller Williams
Margarita Pour-off.
Connie Riddle,
Jacob Van Winkle
and Ed Riddle, all
with Keller Williams
Legacy are all
smiles at the company Happy Hour
at La Hacienda.
July 1, 2014
July 1, 2014
Steve Frank, Burdick Custom Homes with Lisa Arlette and Linda Rudd,
both of Legacy Mutual Mortgage and Tracy Harris, Burdick Custom
Homes highlight the possibilities in Alamo Heights at the event for Kuper
Sotheby’s International Realty.
Jeff Hamilton,
Gold Financial,
Robert Elder, Keller
Williams Heritage
and Billy Neel,
Gold Financial
celebrate Keller
Williams Red Day.
Jeff Hamilton, Gold Financial with Tara Allman, Keller Williams
Heritage at the Keller Williams Margarita Pour-off. Loving the
Glenn Clarke,
Glenn Clarke
Realty at the KB
Home Open
House at
July 1, 2014
By Cathey Meyer
Speed TV
Speed dating was a popular
method for anti-social singles to discover why their lives are better as singles
rather than compromised as a couple.
Apparently, the best choice for selecting
a long term partner was to gather in a
large room, tie on your running shoes
and talk as fast as you can about yourself
for two minutes to a total stranger. Fees
and excise taxes were charged and most
of my friends who participated in this
meet-a-mate challenge came away with
a less than glowing report about the
availability of plus ones. Not surprisingly, no one ever saw anyone from the
speed rounds again and someone walked
away with a large bank deposit. I would
guess that person is not sharing the
wealth with a significant other met in a
speed round of lonely hearts.
The trend in discovering a new
favorite television show is now much
the same process. To access a television
signal, we sit in a large room, tie one on,
and pay a significant fee for someone to
provide us
900 cable
channels of
choices of
might want
to connect
with on a weekly visit. We then speed
through the selections seeking that one
significant other that will relate to us on
a shallow level. Much like speed dating,
we are not really allowed much time to
connect with the nuances of a show.
The ‘new’ television season will
soon be debuting in the ‘Fall’ as the network executives like us to believe. Fall
will begin in September this 2014, but
our new television season now waits
until late October (or the end of the
Olympics) before rolling out the new
shows. Ironic since they have been promoting them since late May during the
reruns of the current television season.
Once the shows begin to air, the issue of
speed TV kicks in at full stream. After
watching the punch lines of nine to 12
new situational comedies air in prime
time commercials for four months, the
actual 23 minute show hold very little
interest once the viewer settles in to
peruse. The remote is not so remote, but
the commitment to the new show is only
as long as the last speed round.
Before long, the tinkering of my
favorite old shows now hinge on the
debut of bad new shows. Once upon a
timed series, I began watching The Big
Bang Theory on a Monday evening. We
settled in to a regular routine of socially
awkward word nerds and I counted the
original airings until this piece of intellectual humor would be cancelled. To
my unexpected joy, The boys of the
bang returned, but not to their ‘regular
Monday night time slot’.
The Bang
enjoyed an original 13 series run and an
endless rerun of the original 13. Then
there was a writer’s strike, sporting
events and the transition from free-airwave television to high-dollar-definition
television, all of which caused significant delays in the rescheduling of a new
22 episodes.
The boys banged around on
Monday night, Wednesday night, occasionally on a Saturday night and then
settled into a ‘regular’ Thursday night
run until, of course, it disappeared only
to return to Monday nights. In surprising news, in theory, the show will now
run until 2017 giving it a full decade of
irregular regular broadcasts. I miss the
old days when Carol Burnet was
ALWAYS on Saturday night, Monday
Night Football was ONLY on Monday
nights and cable, satellite/dish television, and delayed live streaming to your
iThing did not alter your viewing habits.
Do not think for a moment creating one
show with a ‘CSI’ and just changing
cities establishes regular viewing habits.
Same plot, different weather.
As the new advertisements continue through the entire summer promising us new and fresh canned-laughter
television, I am speeding through
attempting to select shows that just
might last more than four episodes. The
odds are better of meeting a lifetime
mate in a speed dating round than predicting which of the coming attractions
will eventually earn a previously
unknown actor $4 million per taping.
Someone will have their obnoxious parent move in; someone will visit endlessly with their five Anglo friends about
daily trivial events; someone will be disguised as an alien to fit into the ‘hood;
some alien will be disguised as a human
to fit into the ‘hood; someone will blend
a collection of families under one
impressive ‘middle class’ home; and we
have not even scratched the surface of
reality television and our housewife
Maybe my television viewing
habits are occupying too much of my
limited brain power. I should just
unplug and find a good book. Better yet,
I will just wait for the good book to be a
mediocre movie made into a reality television show.
July 1, 2014
Lacy Padilla, KB
Home and
Adolfo Trevino,
Real Living Best
Homes at the KB
Home Open
House at
Alexia Herber, Burdick Custom Homes, Kathy Budde, Keller Williams
Boerne and Claudia Nolen, Phyllis Browning Company at the San Antonio
Business Journal Top 50 Award Private Realtor Event.
Perry Messer and
Teresa Kriewald,
First American Title
at the Keller
Williams Margarita
Kellie Sue Daniels and Lindsey Nix, both with Coldwell Banker
D’Ann Harper Realtors at the David Weekley Open House at the
Preserve at Alamo ranch.
Our North Star
Albert Banigo, Area Manager, NMLSR# 408669,
Shawnta Mitchell, Ellen Schuler, NMLSR# 409880,
Heather Eikenberg, NMLSR# 1019519, Erica Vazquez,
Customer Service Rep. and Jordan R. Davis, NMLSR# 505877
40 N.E. Loop 410
San Antonio, TX 78216
July 1, 2014
July 1, 2014
Benjamine Carrizales, Sell Smart Real Estate, Judy Dean, Perry Homes
and Rodney Mishler, Vista Realty at the Perry Homes Open House at New
Braunfels Hunters Crossing.
Rachael Shields
and Tracie
McKee, both with
Stewart Title at the
Grand Opening in
New Braunfels.
Randall Zamora,
RE/MAX Access
with Tracy Tylman,
Legacy Mutual
Mortgage at the
Keller Williams
Margarita Pour-off.
Jean Marie
Warren, Prime
Lending with
Laura Lizcano,
Fisher Mann at
the April WCR
July 1, 2014
Polly Keene, Chicago Title, Paula Gulley, Phyllis Browning Company and
Amy Kolb, Keller Williams City View at the Chicago Title Open House.
Joyce Killian,
Stewart Title and
Marsha Kovar,
Keller Williams New
Braunfels at the
Stewart Title, New
Braunfels Grand
Steven Gragg and
Heather Watson,
both with Keller
Williams Legacy at
the Happy Hour at
La Hacienda.
Daniel Pedroza,
Keller Williams City
View and Amy
Corona, imortgage at the
July 1, 2014
Letty Yong, Home
Team of America
(standing) and
Judy Mitchell,
Keller Williams
City View
(seated) at the
Imagine Homes
Lunch Amorosa
in Cibolo
Gregg Collum, Ranchers Plus Realty and Johnnie Childs, Icon Realty at
the Perry Homes Open House in New Braunfels Hunters Crossing.
Angie Jenkins and
Shannon Powers,
both with Gehan
Homes in their silly
red pepper hats
during the
Interoffice Chili
Our Rental Consultants
Are Just
One Call Away!
Jerry Berry
Carmen Gonzales
Irene Dempsey
(210) 493-1688 • (800) 598-1688 • FAX (210) 493-1695
Apartment rental assistance for long and short term needs. Corporate apartments.
July 1, 2014
July 1, 2014
Jary Sours, Keller
Williams Heritage
and Debbie
American Home
Shield at the
Keller Williams
Claudia Colbert and Debbie Lopez, both of Perry Homes, Marian Benson,
New Braunfels Chamber of Commerce with Linda Haugh and Kelly
Broussard, both of Reliance Residential Realty at the Perry Homes Open
House at New Braunfels Hunters Crossings.
Daniel Garza and
Linda Pena, both
with KB Home at
the KB Home
Open House at
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July 1, 2014
Diagnosis: Breast Cancer
- Now What?
It is not hard to imagine how
difficult it might be for a woman
to learn that she has breast cancer
and that the extent of the condition will necessitate removal of
one or both breasts. In times past
that diagnosis usually meant that
death was a certainty so the concerns revolved around preparing
for that outcome. Today, however,
not only is survival common, but
the chances are good that a
woman, with proper care can live
a long and satisfying life.
There are many facets to
"proper care" beginning with physical recovery from the surgery and
any necessary chemical and/or
radiation therapy and moving on
to addressing the individual's ability to handle their mental perceptions as to what the changes to
their body will mean to them and,
possibly more importantly, to others. Also critical to proper care is
making educated breast reconstruction choices.
For the most part, the reconstruction options consist of
implants along with what filling
materials might be used (saline or
silicone) and tissue flap procedures (grafts) which vary according to the source of the tissue that
will be used in the flap.
According to Susan G. Komen
there is no one "best" reconstruction method since we are all individuals and there are pros and
cons associated with each option.
"Flap" procedures which are
the alternative to implants and
prostheses, do require a little more
extensive and specialized microsurgery carried out by well trained
plastic surgeons. These procedures
may require a little longer hospital
stay but the results are generally
accepted as creating a more natural feeling breast for the patient.
While there are different types of
flap procedures, named according
to the source of muscle or fat that
will substitute for the breast tissue, the deep inferior epigastric
perforator (DIEP) flap breast
reconstruction is currently the
most common of these procedures
and is one where the fatty tissue is
obtained from the stomach and
pelvic areas.
In San Antonio we are fortunate to have a highly respected
facility devoted to the most stateof-the-art breast reconstruction
techniques available today.
Founded in 1994 as a two physician practice, PRMA Plastic
Surgery, located at 9635 Huebner
Road, now has a staff that includes
support personnel, Patient
Advocate, Physician's Assistants,
RNs. To meet the needs of
demand, the Physician count has
also increased to seven. To date
PRMA Plastic Surgery has successfully completed more than 5,500
breast reconstruction procedures
making it one of the busiest reconstruction centers in the world. In
April of this year a second location
opened in the Stone Oak area in
the Atrium Building at 502
Madison Oak Drive.
While a great number of
patients are local there are many
who have learned of the facility
through word of mouth and come
from all over the country.
Regardless of where they originate, patients comment about the
wonderful aura that emanates
throughout the facility and
describe, from their very first
appointment that they have come
to the right place. They have
specifically mentioned the courtesy, helpfulness and attitude of
caring exhibited by all personnel
throughout the entire process.
It is important for those who
now face the prospects of breast
removal, because they have either
been recently diagnosed with
breast cancer or have tested positive for the breast cancer familial
gene, to know about PRMA Plastic
Surgery so they may make wise
selections in advance and avoid
costly mistakes from having been
rushed into making uneducated
and poor reconstruction choices.
The PRMA website offers a wealth of
additional information such as
Insurance FAQs, Travel & Lodging
suggestions and Patient
Testimonials, the site can answer
most of the initial questions
prospective patients might have
concerning their choices. To set up
a consultation and discuss details
specific to the needs of the individual patient. Please call (210)
692-1181 or (800) 692-5565.
July 1, 2014
Wollace De
Souza, Toll
Brothers at the
Tish and David Lowe, both of Real Living Best Homes Realty, surround
Karen Oliver, David Weekley Homes at the Open House at the Preserve
at Alamo Ranch.
Alan Langhoff,
BH&GRE Bradfield
Properties and
Misty Wood, Keller
Williams City View
at David Weekley
Open House at
the Preserve at
Alamo Ranch.
THE Man For
Investment Property!
Chad Emerson
Investment Property Specialist, NMLS# 232133
• Few INVESTOR OVERLAYS on our serviced FHA & VA products
• In house underwriting and loan servicing
• Fannie Mae, Freddie Mac, Ginnie Mae direct lender
14100 San Pedro #210 • San Antonio, Texas 78232
For use by Real Estate Professionals only.
Not intended for public use or distribution.
Company NMLS# 3274
July 1, 2014
For more than twenty years
Gold Financial Services has been a
leader in the mortgage lending
industry with branches in Texas
and Louisiana and with the ability
to handle loans in New Mexico
and Oklahoma. In addition to San
Antonio and Boerne other Texas
loan origination branches can be
found in Addison, Brownsville,
Dallas, Duncanville, Edinburg,
Grapevine, Laredo, McAllen,
Mesquite, Plano, Southlake, Troy
and Waco.
Through their cutting edge
mortgage origination technology
Gold Financial is able to offer borrowers lower mortgage costs and
use of this technology, coupled
with the company's ability to
rapidly respond to new opportunities in today’s dynamic mortgage
markets, assures enough underwriting flexibility to provide
unique mortgage programs that
can satisfy individual mortgage
customer needs. All Gold
Financial Service employees pride
themselves on the fact that they
work hard to exceed the expectations of their clients and are committed to building rewarding,
long-term relationships with their
Michelle Noble, who has
managed the branch located at
2941 Mossrock, San Antonio, TX
78216 for the past three years, has
been originating loans now for 26
years and each member of the
team that works in the office with
her have 15 plus years experience
in the mortgage industry. It is
noteworthy that while Gold
Financial Services, recognized as
one of the oldest and most reputable lenders in San Antonio, has
been operating under the same
name and at the same location
from its inception, has never had a
complaint registered with the
Better Business Bureau. For everyone's convenience the highest
quality mortgage related services
are available locally including
legal, mortgage processing, underwriting, closing and funding.
Because she recognizes that a
home loan represents probably the
most emotional experience and the
most money a person may spend
in their lifetime, Michelle is dedicated to ensuring a successful outcome for all clients. She, along
with her outstanding processor,
Kesha Thomas, work as a team to
devote personal attention to each
loan undertaken from its origination through closing. During this
process they have immediate and
convenient access to eight stellar
underwriters in the San Antonio
Corporate office. The success of
this personal touch offered to
clients is evidenced by Michelle's
having received the Texas Monthly
5 Star Award for Customer Service
for the past three consecutive
years and by having been recognized by Zillow as number three
in Texas for that same outstanding
customer service.
All of the usual loan products are available through Gold
Financial Services, including, but
not limited to, FHA, VA and
Conventional with 15 or 30 year
fixed rates, ARMs, Hybrid ARMS
and 2/1 Buy-Downs. And in keep-
ing with placing the needs of the
customer first they will be counseled as to which loan products
might better suit the intended
goals. When it comes to Reverse
and Reverse for Sale loans
Michelle will spend time educating potential borrowers to ensure
they understand the advantages
and implications of these reverse
products. Her office is one of the
few that will offer financing for
mobile homes and also handles a
large number of rural property
transactions, usually for five to ten
acre tracts that encompass the
areas surrounding San Antonio
and on down to Corpus Christi.
Because of the length of time
Michelle has been in the mortgage
industry and the number of successes experienced by customers at
the Gold Financial Services-Noble
Branch much of the current business handled there is either of a
repeat or referral nature. In many
cases this is the third home loan
being serviced for a given client
and often times additional family
members have also processed their
home purchases through Michelle.
As REALTORS® know, once you
find a loan officer who consistently closes their loans successfully
and in timely fashion it just makes
sense to keep going back there.
Michelle can be contacted by
phone at 210-745-5570 or by email
at [email protected]
July 1, 2014
Ray Barger, guest
and Pat Aquisto,
Keller Williams
Legacy at the
company Happy
Hour at La
Coleen Taylor, Jim Bastoni and Lupe Moreno welcome Realtors to the
Imagine Homes Jackpot Party.
Cora Hagerty,
Home Team of
America and Mike
Garza, Coldwell
Banker D’Ann
Harper Realtors at
the KB Home
Open House at
“Realtor LLC vs. Sole Property A Major Difference in Taxes”
New Event:
Tax Stragegies for Realtors
KB Home meeting room
4800 Fredericksburg - 12:00pm - 1:30pm
Other Event:
508 W. Rhapsody
San Antonio, Texas 78216
July 1, 2014
Mary Skye, RE/MAX
Associates and
Christina O’Connor,
Legacy Mutual
Mortgage at the
June CRS
Dale Dorsey and
Pat King, both
with Keller
Williams Legacy
at the company
Happy Hour at
La Hacienda.
Jana Baird and
Susan Willis, both
with RE/MAX
Associates at the
Open House at
Woodside Two
July 1, 2014
Margie Morcher,
Homeland Group
of Texas and Tom
Immler, Builder, at
the Grand
Opening event in
Anita McKenny, Olivia Townsend Realty and Deanna Hickman, RE/MAX
Northeast at KB Home Open House at Northeast Crossing.
Bob Winkler and
Cameron Tufino,
both with RE/MAX
Preferred at the
June CRS
July 1, 2014
By Bob Gardner
First Quarter Real Estate Sales
The Real Estate market in San
Antonio is off to an interesting start.
In the first quarter of 2014, MLS
reported total Residential sales of
4,573. The illustration below compares this quarter to 2006, the biggest
sales year in the history of San
First Quarter Sales Comparison
2006 2014
5235 4573 (-)13%
So Sales in the first quarter of
this year are up 3.4% over 2013, but
13% below 2006. Looking closer at the
first quarter sales, they were up in
January and February, but below 2013
in March. The good news is sales
recovered in April and were up 7%
over 2013. More importantly April
sales exceeded April 2006, which is
big news. It is hard to predict our
sales trend for the remaining year, but
we know our inventory of unsold
homes is very low and this will have
a negative effect on total sales.
Our market that is priced below
$200,000 represents 62% of total sales,
and in this price range sales were
down 3.2% from the first quarter of
last year. If 62% of our market is
going to experience slower sales, it
will be difficult for total sales to
exceed 2013. The reason sales are
down in the under $200,000 price
range is there is very little unsold
inventory and loan underwriting
standards are very restrictive. In addition, we are building very few new
homes in this price range because of a
shortage of affordable lots. This situation leads to a strong demand for
There is a different story for
homes priced over $200,000.00. In the
$200,000 to $500,000 price range sales
increased 18.4% over last year. In this
price range we do have available
inventory, strong employment growth
and low interest rates. This price
range accounts for 34% of our market
and within 5 years will have more
than a 50% market share.
Our luxury home market priced
above $500,000 was up over 2013, but
only by 2.5%. There is adequate
inventory of homes for sale, but
affordability and underwriting standards are holding the pace of sales
down. I don’t see much of a sales
increase over 2013 in this price range.
The change I do see is where homes
are being sold. In order to find a
home that is affordable buyers are
going further outside San Antonio. A
higher percentage of homes priced
above $500,000 are being sold out IH10 toward Leon Springs and Boerne.
The other noteworthy trend I
see is in housing starts. The biggest
percentage increase in housing starts
occurred out IH-10 East in the Judson
school district and up IH-35 in the
New Braunfels area. Five years from
now these areas will provide a strong
resale market.
All this said, it is hard for me to
predict a big increase in sales this
year over 2013. I do think we will see
a 3 to 5% increase, but not double
digits like last year. I will update you
on the housing market at the end of
June. If you have questions for me,
my email address is [email protected]
SABOR Keeping Posted
July 1, 2014
July 1, 2014
SABOR Keeping Posted
SABOR Keeping Posted
July 1, 2014
July 1, 2014
SABOR Keeping Posted
July 1, 2014
Masling Joins Masling Properties
Tara Masling
has recently joined
Masling Properties and
will be a second generation licensed Realtor
company. Growing up
in San Antonio with
parents who are known
and established Real Estate agents and brokers, she was raised in a Real Estate learning environment. With over ten years of
customer service and problem resolution
experience, she goes above and beyond to
provide exemplary service to her clients.
Tara is looking forward to assisting buyers
and sellers with their Real Estate needs.
Masling Properties is excited and proud to
have her working on their team. Tara can be
reached at 210-204-3898, tel: 210-2043898 or [email protected]
Newsline 8-1-87
RE/MAX Associates San Antonio
Welcomes McCord
R E / M A X
Associates in San
Antonio has announced
the addition of Connie
L. McCord to its 70
agents who will be
working with area buy-
ers and sellers.
Connie is a newly licensed REAL-
TOR and eager to work with area buyers
and sellers, as well as referring clients to her
network of RE/MAX associates throughout
the world. Connie is the past owner of CLM
Designs – Interior Design & Home Staging.
Her affiliations include the American
Business Women’s Association, National
Association of Women Business Owners,
and Daughters of the American Revolution.
Centralized Showing Service, Inc. (CSS) Open House Event
Centralized Showing Service, Inc.
(CSS), is pleased to announce their Open
House Event to all REALTORS® in San
Antonio on Tuesday, July 15, 2014 from 11
am - 2 pm at their CSS San Antonio office
6655 First Park Ten, Suite 100, San Antonio,
TX 78213.
Stop by our office for appetizers,
refreshments and good cheer, and welcome
Gary Miller, the new Branch Manager of the
San Antonio Contact Center. Gary comes to
CSS with a background in healthcare management and education. An 11-year veteran
of the United States Air Force, he has degrees
in Occupational Education and Training support is his chief goal. When not working,
Gary spends as much time as possible with his
wife Crystal and their two daughters.
It’s a great time to get to know the CSS
customer service representatives who take
your calls every day and to catch up on the latest productivity features of
Take this opportunity to get one-on-one attention and become more efficient at managing
the showing activity on your listings.
We look forward to seeing you on
Tuesday, July 15, 2014 from 11 am - 2 pm.
Maintaining six call centers that schedule nearly 20 million showings each year,
CSS services more than 150,000 REALTOR® members in 70 markets across the
CSS is committed to helping REALTORS® efficiently manage their listings, save
time and provide better service to their clients.
For more information, contact CSS at 877688-SHOW (7469), [email protected] or
KW Legacy Welcomes Harris
Please welcome one
of our new agents to KW
Legacy, Randy Harris.
Randy has been around the
real estate industry for 32
years as a remodeler, home
builder general contractor
and ranch developer. He
knows San Antonio and surrounding counties living
here his entire life. Contact
him at 210-332-8176 or
[email protected]
July 1, 2014
Coldwell Banker D’Ann Harper Realtors plays
Mudd Volleyball
The First Annual Mudd
Volleyball Tournament, held by
C oma l
Co u n ty
H abitat
Humanity, started promptly at
Saturday morning and lasted well
into the afternoon at River City
Range in New Braunfels. Each
team was guaranteed at least six
games to play, but the purpose of
the tournament was strictly recreational.
There were 14 teams this
year, and it’s hoped to have double next year. It was publicized as
a recreational event and not something too competitive, so no one
has to be a super volleyball star to
CBHarper team only won 2 out of
6 games, but fun was had all
around! Great job everyone for a
great cause!
For more information about
Humanity and the upcoming
events, visit their website at
We Have A New
Team Member!
Debbie Villarreal, NMLS# 463824 and Lisa Cross, NMLS# 890669
Loan Officer Assistant welcome Tori Trevthan, Loan Administration
WR Starkey Mortgage, LLP NMLSR #2146
12500 San Pedro #100
San Antonio, Texas 78216
Branch NMLSR #291670
Simmonds Real Estate Inc. Welcome
Worswick, Benavides, Cohn and Garcia.
Simmonds Real Estate in May.
Stephen Worswick is relocating
from Florida and has over 20 years experience as a real estate broker including
previously owning a brokerage in
Schertz. He is fluent in several languages including Spanish and French. Kim Benavides is a native of the
Schertz/Cibolo area and is transitioning
into real estate after a successful career
in the automotive industry.
Margarita Cohn is also transitioning into real estate after being in the
years. Her husband has just retired from
the Army and they have elected to
remain in the Schertz area where
Margarita will begin her real estate practice.
Frank Garcia was born and raised
in the Caribbean and has lived in the
United States for many years. He graduated from the University of South
Florida and will begin his real estate
practice with Simmonds Real Estate
after retiring with 26 years of service in
the Texas Criminal Justice system.
Debra and Royce Simmonds welcome our newest Realtors.
Read Us Online:
July 1, 2014
Letty and Victor
Yong, both with
Home Team of
America at the
Toll Brothers Open
House at the
Misty Wood and Tina Munoz, both with Keller Williams City View at
the Opening at Johnson Ranch.
Kelli Pearson,
Chicago Title
with Dad, Danny
Murphy, Home
Team of
YPN does Habitat
for Humanity.
Lindsey Nix,
Coldwell Banker
D’Ann Harper
Realtors with
Beverly Vorpahl
and Karen Oliver,
both of David
Weekley at the
David Weekley
Open House at
the Preserve @
Alamo Ranch.
Pat Strong, Pat
Strong Realty,
Johnnie Childs,
Icon Realty and
Annette Slater,
Landlord Property
Management at
the GRI Brokerage
course at SABOR.
Jan Hicinbothom,
Class of 2005 and
Sally Garza, Class
of 2010 at the
April TRLP
Luncheon at the
Petroleun Club.