S.A. Builders Continue to Tackle Oversupply

San Antonio-area builders continued to chip away at the oversupply of new homes that has saturated the market since 2006, selling more homes than they started in second quarter 2008. Local builders started 2,495 homes in 2Q 2008, down 35% from the 3,832 homes started in second quarter 2007, according to a Metrostudy report. Builders sold 2,857 homes, though that's still 26% fewer than the 3,864 homes they sold in 2Q 2007. The slowdown is part of a calculated strategy started in late 2006, builders say, to keep the market healthy by selling through the oversupply of homes that hit San Antonio that year. Since 2006, local builders have been advised to cut housing starts to a cumulative 10,000 or less for any 12-month period in order to absorb all excess homes, according to Jack Inselmann of Metrostudy. Earlier this year, Inselmann projected the goal would be met by the end of September. The declines are well underway, with San Antonio having the tightest monthly housing inventory of the roughly 40 major markets tracked by Metrostudy. Inselmann has since revised his target date to the end of 2008, citing the credit crunch caused by problems at Fannie Mae and Freddie Mac and rising oil prices. Meanwhile, many San Antonio builders are cutting inventories by minimizing their number of spec homes.

Source:  Metrostudy/TAMU/Skye (August '08)

real estate,buy,sell,house,home,realtor,agent,san antonio,market,relocating

THE EFFECTS OF GREEN FEATURES ON HOUSE VALUES TODAY

Green building energy efficiency features are on the rise.  More homebuyers are elevating the value of these amenities to a preferred status.  Some see the hand writing on the wall in regard to water, electricity, heating and cooling.

Source:  Dr. Harold D. Hunt/Skye      

real estate,buy,sell,house,home,realtor,agent,san antonio,market,relocating

Here is some timely advice we would like to pass on from Kate Leonard, Senior Loan Officer with SWBC.  We enjoy working with Kate as she provides professional and efficient service to our buyers:

It's that time again...time to start gathering all of that dreaded documentation to send to good old Uncle Sam! Recent stats say the IRS audited 1 out of every 97 returns last year, so it pays to be careful. And even though this may seem like a very painful process, taking just a few simple steps right now will make your tax filing far easier and more accurate.

Keep it together. Make a quick list of all the documents or statements that were needed to complete your return last year--or call your tax planning professional for a checklist. Use this as a checklist to make sure you have a good start on the documents you may need this year. As you receive tax documents in the mail, grab your checklist, and mark the item as received. Then, keep all of the tax documents together in a large file or envelope marked "2007 TAXES."

Do the math. According to the IRS, the most common mistake on tax returns is bad math--from transposed numbers to downright incorrect data. And with one document leading to the other, those errors can make a huge impact. And even if you use tax software, you're not off the hook--since they only add the info YOU put in. Double-check entries carefully.

Every last cent. The IRS receives copies of your Form 1099 earnings each tax season. So, they know how much you make in interest and dividend income, and they will use that info to double-check your filing information. Make sure you collect all your earnings statements and document them on your return.

Sign on the line. It sounds almost silly, but forgetting to sign a return is actually a fairly common oversight. And the IRS won't process a return that doesn't have a signature. So, make sure you sign to avoid resubmitting your paperwork and possibly paying late-filing fees.

Remember, there isn't a lot of room for error when you're dealing with the IRS. A slight miscalculation could mean the difference between getting a return and writing a check--or worse, paying a penalty. It pays to work with a tax professional. If you need a referral, contact us—we’ll be happy to help!

Source:  SWBC/Leonard/Skye

Here is some timely advice we would like to pass on from Kate Leonard, Senior Loan Officer with SWBC.  We enjoy working with Kate as she provides professional and efficient service to our buyers:

It's that time again...time to start gathering all of that dreaded documentation to send to good old Uncle Sam! Recent stats say the IRS audited 1 out of every 97 returns last year, so it pays to be careful. And even though this may seem like a very painful process, taking just a few simple steps right now will make your tax filing far easier and more accurate.

Keep it together. Make a quick list of all the documents or statements that were needed to complete your return last year--or call your tax planning professional for a checklist. Use this as a checklist to make sure you have a good start on the documents you may need this year. As you receive tax documents in the mail, grab your checklist, and mark the item as received. Then, keep all of the tax documents together in a large file or envelope marked "2007 TAXES."

Do the math. According to the IRS, the most common mistake on tax returns is bad math--from transposed numbers to downright incorrect data. And with one document leading to the other, those errors can make a huge impact. And even if you use tax software, you're not off the hook--since they only add the info YOU put in. Double-check entries carefully.

Every last cent. The IRS receives copies of your Form 1099 earnings each tax season. So, they know how much you make in interest and dividend income, and they will use that info to double-check your filing information. Make sure you collect all your earnings statements and document them on your return.

Sign on the line. It sounds almost silly, but forgetting to sign a return is actually a fairly common oversight. And the IRS won't process a return that doesn't have a signature. So, make sure you sign to avoid resubmitting your paperwork and possibly paying late-filing fees.

Remember, there isn't a lot of room for error when you're dealing with the IRS. A slight miscalculation could mean the difference between getting a return and writing a check--or worse, paying a penalty. It pays to work with a tax professional. If you need a referral, contact us—we’ll be happy to help!

Source:  SWBC/Leonard/Skye