San Antonio TX real estate agent

The first event I attended at the Alamodome was a boxing card featuring Julio Cesar Chavez and Pernell Whitaker in 1993, not long after the then mega-structure had opened.  Seated in an upper balcony in a seat that at the time cost as much as a cheap season ticket for a National Football League team, I was in awe of the structure.  That is, until the first bout began and I quickly realized that I would have been far better off watching the fight on pay-per-view than I was in a seat that seemed a football field length away from the ring.

Originally built with an unrealized vision of attracting an NFL franchise to San Antonio, the Alamodome has served in many other capacities over the years.  The San Antonio Spurs gave it a try as their home court for nine seasons, finally giving up the location in favor of their current home in the state-of-the-art AT&T Center in a more central location which is better suited to basketball, both from a player and fan point of view.

The vacating of the arena by the Spurs freed up more dates for conventions, concerts, auto shows, and, in spite of its poor sight lines, numerous basketball tournaments that were difficult to schedule while the Spurs held a lease on the facility for the better part of each year. The National Basketball Association played its annual all-star game here in 1996 and The National Collegiate Athletic Association (NCAA) held its final four men's tournaments in the Alamodome in 1998, and the women's final four in 2002 and again in 2010.  Following the 2010 women's tournament, When asked which of the eleven cities he had taken his team to for the final four tournament, Connecticut women's basketball coach, Geno Auriemma, was quick to praise San Antonio and the Alamodome. "This is a great town," Auriemma said in an interview posted in the San Antonio Express-News said, "I wish they could hold itere every year." 

In spite of its long-range economic success, there is still the dream of an NFL team relocating to San Antonio. Following Hurricane Katrina, which partially destroyed the Superdome in New Orleans, the Saints played five games in the Alamodome, nearly filling the stadium to its 65,000 seat capacity on each visit.

For the time, football fans will have to settle for the Alamo Bowl, held at the end of each football season, various collegiate and high school football championship games, the annual U.S. Army All-American Bowl featuring top high school players from across the country, and the fledgling University of Texas at San Antonio football team, which will take the field at the Alamodome in the fall of 2011.  I've already purchased four season tickets and look forward to our first national championship! 

For additional articles by Ed Barrett, visit: www.EdBarrettHomefinder.com

A few months ago my wife decided we needed a new roof.  My thoughts were that we should wait for a hail storm and have the insurance company pay for the roof.  But this argument didn't get too far, since the last significant hail storm in San Antonio, TX was in 1994, at which time we earned a new roof courtesy of our insurance company. 

Having yielded to the idea of putting on a higher quality roof than what we currently have, I then checked on the possibility of getting a tax credit to cover part of the cost. I talked to a few San Antonio roofing companies and was told that I couldn't get credit for a new roof, but installing extra insulation, and radiant barrier protection would earn a credit.  Extra expense, but using the suspect logic that it would lower my utility bill significantly, I made the extra investment for the radiant barrier and insulation. An added benefit of the insulation was an incentive offered by my utility company, which amounted to a $280 reduction on future utility bills, which has already been credited to my account. 

After having the above work done, while doing a google search for new windows, which was the next item on my wife's list, I ran across an article that implied that some new roofs, if they satisfied a higher rating criteria, might meet the criteria set by the government for getting the tax credit.  Too late for me, but if you're considering a high-quality roof, it might be worth researching.

Back to the windows.  I had already (without my wife's prodding) decided on new windows.  After all, if you're going the energy-star, money saving route, new state-of-the-art windows had to be part of the project.  I called the company that had done an outstanding job on my roof at a very competitive price, to get an estimate on windows.  The price they quoted was way above what I wanted to pay (more than the roof) so I contacted a major window company that promised to beat any other estimate.  Bottom line:  they came in at a price that was close to 50% less than the original estimate.  And the best part is that the windows qualify for the 30% energy tax incentive, which will reduce my cost by $1,500. 

Well, I'm still spending a bundle for the new windows, but psychologically, I've convinced myself that I saved thousands of dollars by getting a second estimate. So, I'm happy.  If my utility bill drops 30% this summer, and if I live for 30 more years, it will have been a worthwhile investment.

Click here  for more information on home improvement tax credits.

Go to: www.EdBarrettHomefinder.com for additional articles.

About this time each year, my wife and I make a trip to Six Flags Fiesta Texas to renew our season passes.  I don't really know how many visits we'll make to our favorite San Antonio attraction through the summer months, but at around $50 each for the entire year, it's a bargain we can't pass up.  Add to that, three grandkids who will also have season passes and will usually be with us on each visit, and it becomes a must expenditure.

It all started in 1992 when the former rock quarry became part of a master planned component of USAA's La Cantera project. With numerous rides, shows and water attractions, the park was a welcome addition to the San Antonio entertainment scene.  One of the landmark rides, which has survived through the years is The Rattler, which at the time of its construction, was the tallest and fastest wooden roller coaster in the world, reaching  a height of 179 feet and a speed of 73 miles per hour. I'd had the opportunity to ride the famed Cyclone roller coaster at Coney Island many years ago, so I had to try The Rattler. One time was enough.  I could handle the monstrous drop and the speed, but the rapid twists, and what I considered to be a lack of restraints to keep my body from being unraveled, convinced me that I didn't need to do this again.  I have since tried a few of the other roller coasters in the park; those that turn you upside down and tend to disorient your perception of direction.  Other roller coasters have been added since the opening, and others have been dismantled and shipped to other locations.  But, The Rattler, like The Cyclone at Coney Island, will more than likely be a permanent attraction to San Antonio's entertainment scene.

What attracts us to the park more than anything else are the variety shows, which over the years have regularly garnered awards as the top theme park shows in the country.  One of the originals shows was a country-western extravaganza that took a trip down memory lane, bringing back popular hits from the 50s and 60s.  Performed by a very talented group of at least 50 entertainers, the show was a must see on each of our visits.  The show has since been replaced by shows with smaller casts that tend more toward contemporary country music.  It's still a worthwhile performance, but not as memorable as the original feature.

The show we've  always watch on our visit to the park in recent years is Rockin' at Rockville High, a highly acclaimed trip down memory lane by a cast of young singers who take us back to the 50s and 60s with a performance that was voted the top theme park show for four years.  A 70s show has since been added to the Rockville High schedule and is also a highly rated performance that is worth taking the time to watch.

If you're looking to get cooled off (and wet) there is a huge variety of water rides at the park.  We usually wait until late in the day before venturing into this area.  At the top of the list of rides is The tornado, a seven story drop through a water funnel into 5,000 gallons of churning water. Eight other water attractions offer a level of excitement ensure that you will find the ride that meets your needs.

One thing that was lacking during the earlier years at Six Flags Fiesta Texas was the lack of quality restaurants.  Not so today.  Throughout the park you will find highly recognizable names such as: Ben & Jerry's, Papa John's, Johnny rocket, Cost Stone Creamery and a variety of other stops for culturally oriented restaurants.

Expect to do a lot of walking if you plan to make the park part of your visit to San Antonio.  Carry a lot of water and be sure to get a map of the park at the entrance. It's a long winding trip through the various culturally-oriented sections of the park.  Most important of all, come early if you expect to get the best bang for your buck.  Like all theme parks, lines driving into the park, and through security at the park entrance can take up valuable time if you wait until opening time to leave for the park.

Go to:  www.sixflags.com/fiestatexas  for a full view of park location, features and prices.

Other articles by Ed Barrett about San Antonio, TX can be viewed at:  www.EdBarrettHomefinder.com

When someone asks me if interest rates are going up or down, my typical response is, "it depends."  There are many issues which I've learned over my 34 years as a San Antonio real estate agent that are totally unpredictable and often beyond my comprehension. Following is my recollection of just a few incidents of interest rate changes and my opinion of the impact they had on the San Antonio real estate market.

Throughout most of the latter part of the 1970s, interest rates were relatively stable, until 1979 when rates took a giant leap upward to 12%.  So confident that this would never happpen, one prominent northside San Antonio builder had guaranteed interest rates of 9.5% to potential homebuyers, and proceeded to begin construction on their homes.  Needless to say, he was unable to honor the 9.5% interest rates and lost most of his buyers.  It wasn't long before this well-respected builder was out of business.

This was just the beginning of escalating interest rates, which by 1982 had reached as high as 18% on a thirty year mortgage.  Consider this:  A typical new home in northwest San Antonio in 1982 might sell for $115,000.  With an 18% mortgage, the principal and interest rate on a fully guaranteed VA loan would be $1,733.00 per month.  Compare this to today's market interest rate which hovers around 5%.  The same loan today would have a principal and interest rate of $617.00, a difference of $1,116.00 per month!  To be sure, experts saw neither the 18% interest rate, or the current 4.5%-5% interest rates on the horizon.  I recall as the interest rates were coming down from 18%, many experts were predicting that we would never see single-digit interest rates again.

Just as quickly as rates went up, they began to come down. By 1983 rates had dropped to 12%.  Certain that the 18% rate was an anomaly and in spite of predictions of continued double-digit interest rates, buyers were confident that we would return to the good old days of single-digit rates.  But even with this optimism, it was still difficult for most buyers to qualify for a loan at the prevailing rate of 12%.  To counter this continued stall in the market, lenders introduced an adjustable rate type mortgage that had a fixed buydown, offering buyers an introductory rate mortgage at 7.5% that would increase 2% per year for the next 3 to 4 years. 

Buyers accepted this loan willingly.  The thinking at the time was that San Antonio real estate values had almost always increased in value, and confident the interest rates would come down, they anticipated refinancing the prohibitive buy down mortgage long before it reached  their peak rate, which I recall reached as high as 14.5%.

Well, the rates did come down to around 10.5% by 1987, but home values had also come down. Many homeowners, who could not afford the prohibitive interest rates, could not re-finance their loans because of unfavorable loan-to-value ratios. Cumulatively, these conditions led to a massive number of foreclosures, with many homes selling for more than 40% less than their original value.

By the early 1990s, the San Antonio real estate market had begun to stabilize. In 1992, interest rates had dropped to 8.5% and homes were selling at fair market value.  These conditions prevailed throughout most of the 1990s and through the first half of the current decade.  There were some ups-and-downs, but overall, everyone was content with the market conditions until around 2006 when we entered into what might be the greatest well-documented real estate tragedy in our nation's history.

At least in part because of the current uncertain economic conditions, buyers can now purchase a home at a still reasonable price with interest rates of 4.5% to 5.0% on a 30-year mortgage.  There is no way of knowing how long real estate interest rates will stay at this rate, or when home values will begin to increase, which is usually the case when interest rates remain low for a sustained period.

Given the history of real estate ups and downs, I'm going to go out on a limb and predict that home values will eventually go up, and interest rates will increase.  When will this happen?  "it depends."

To view additional articles and a wealth of information on real estate, go to www.EdBarrettHomefinder.com

Picture this:  it's 4:30 A.M., there's a forecast of heavy rain throughout the San Antonio area, and there's an open-air breakfast being offered to you, free-of-charge at a location that's probably 20 miles or more from where you reside.  Do you attend?  Probably not.  But the adverse conditions didn't affect approximately 50,000 residents from San Antonio and nearby towns, many of whom attend the annual Cowboy Breakfast about this time every year, in spite of the adverse weather conditions that almost always prevail at what has become a San Antonio tradition. Hailed as the unofficial opening of the San Antonio Stock Show and Rodeo, the popular event annually sends the San Antonio Spurs packing for a nine-game road trip while the rodeo folks take over their home at the AT&T Center.

This year's event, which was the 32nd anniversary of the popular breakfast, was held this past Friday in the parking lot of the Cowboy Dance Hall in northeast San Antonio.  The menu consisted of breakfast tacos, chorizo and eggs, carne guisada, biscuits and gravy and brats, all prepared by a hearty group of volunteers.  Music was provided by the "Get Buck Wild" group, which was scheduled to play at 5 A.M.as the rain began and thousands of the early morning arrival scurried for cover. 

An added attraction this year, according to a report  by Vincent T. Davis in the San Antonio Express-News, was a wedding ceremony.  Drew Murphy and Betty Velasco exchanged vows with an entourage that included members of the Buffalo Soldiers Living History and Heritage Association and an American Indian flutist.  Look for this to become an annual tradition as other starry-eyed couples share the limelight with the breakfast crowd.

I didn't make it to this year's breakfast.  Somewhere in the distant path, I did attend. And it left a definite impact on me.  The community spirit that defines the lifestyle of San Antonio, TX was clearly in evidence as I shiveringly waited for my tacos and coffee. Maybe next year I'll make my second appearance. But it won't be at 4:30.  The event goes on until at least 9 A.M.  Look for me a half-hour before closing time!   Proceeds from the Cowboy Breakfast go to toward scholarships for students at St. Philip's College culinary arts program

You can visit my website at www.EdBarrettHomefinder.com for more articles and a wealth of information about real estate.  I'd like the opportunity to be your San Antonio real estate agent if you're considering moving to or within our fantastic city!

In an effort to stimulate the sagging economy, congress has passed The American Recovery and Reinvestment Act of 2009. Perhaps the major provision of the act is a tax credit for as much as $8,000 to first-time homebuyers, or buyers who have not purchased or owned a home in the past three years. Single taxpayers with adjusted gross incomes of up to $75,000 and married couples with incomes up to $150,000 can qualify for the full tax credit. Also, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer. One word of caution: home buyers who receive a tax credit under the provisions of this act, must use the home as a principal residence for at least three years or face a possible recapture of the tax credit amount. 

Unlike the $7,500 tax credit passed in 2008, the $8,000 credit does not have to be repaid. A tax credit is a dollar-for-dollar reduction in the total amount a taxpayer owes. For example, if a qualified purchaser owed $8,000 in income taxes, his total debt would be reduced to zero. This differs substantially from a tax deduction, which essentially is based on a taxpayer's tax bracket.  For example, an $8,000 tax deduction on a buyer in the 15% tax bracket would only receive a tax reduction of $1,500. 

In the event a qualified purchaser does not owe any taxes at year end, he/she would receive a check in the full amount for which he/she is qualified. This amount is calculated by taking 10% of the home's purchase price up to a maximum of $80,000. 

The tax credit pertains only to owner-occupied homes purchased between January 1 and December 1, 2009.  The purchase date is the actual date on which a buyer takes ownership to the property.  Any home that will be used as a principal residence will qualify for the credit.  This includes single-family  homes, condominiums, townhomes, manufactured or mobile homes, and houseboats.

Applying for the tax credit is a simple process that requires applicants to complete IRS Form 5405 to determine the amount of their tax credit, and then claim this amount on their 2009 1040 income tax return.

For other articles by Ed Barrett, please go to:  www.EdBarrettHomefinder.com

Everyone has an opinion on what to do to make a home sell better, and more importantly, at a price that will make a seller happy.  My opinion, and observation in over 32 years of selling homes in San Antonio, TX  is that in order to recoup the most on your remodeling, or home improvement investment, you should do only what is necessary to make your home more saleable, without spending a lot of money.

Interior and exterior painting, new flooring, minor kitchen upgrades, primarily appliances and counter tops if they are old and might have a negative impact on a home’s ‘showability’ should be in the forefront of all remodeling jobs.  Bathrooms can usually be spruced up enough without spending more than you might get in return.  Lighting is important, and of course, with better lighting, you might want to look at the fixtures.  Tubs and showers, unless they are in obvious need of replacement, can usually be made presentable with a little bit of caulking and elbow-grease. 

Some improvements, which won’t usually bring a full return on your investment, but are often necessary, include a new roof and an upgrade on an air conditioning system.  Repairs and improvements of these types do add a competitive advantage to a home being sold, and will often reduce the time the home stays on the market.

Other improvements, which fall into the above category, i.e., they don’t bring a full return on investment, should usually be avoided.  Adding a deck to a home, vinyl siding, or room additions, etc., are unnecessary expenses if you are planning to sell your home in the near future, and will almost always result in a negative return on your investment, unless you do all the work yourself.  

Landscaping is important, but only to the extent that it will be the ‘icing on the cake.’  I’ve never sold a home with exceptionally nice landscaping if the home itself left a lot to be desired.  Keep the lawn mowed and watered if you're in a dry climate like San Antonio, TX, and plant some flowers.

Put your money into the‘showability, factor and you'll reap the greatest benefits.   At least in San Antonio, TX this requires minimum effort and cost, and is usually  the deciding factor when two homes of otherwise equal value are being considered by a buyer.  Most important of all, play Mr. or Mrs. Clean in keeping your home spotless while you are trying to sell. 

For other articles by Ed Barrett, go to:  www.EdBarrettHomefinder.com.  If you are thinking of selling your home in San Antonio, TX,. Ed Barrett Realtors is offering a full service brokerage fee of 5%, to include a professionally designed virtual tour.

Consistent with the residential and commercial growth in the area of Texas State Highways 1604 & 151, The University of Texas Health Science Center has announced the opening of a new health Christus Santa Rosa medical building in Westover Hills, not far from the Alamo Ranch development, one of San Antonio's most ambitious projects in recent years.

The new clinic will offer a wide variety of specialties, to include cardiology, pulmonary disease, surgery, urology gastroenterology as well as family medicine, according to a release in the San Antonio Business Journal. "This clinic represents a new era for the school and its practice,": says William L. Henrich, dean of the School of Medicine and vice-president for medical affairs at the Health Science Center. The clinic will be connected to the new Westover Hills hospital campus of Chrisus Santa Rosa Health Care when the hospital opens next June, according to the Business Journal article.

The addition of the clinic by the highly regarded Health Science Center, one of the leading teaching and research institutions in the state,  is a definite plus for the area and is sure to stimulate residential and commercial growth. Retirement communities, such as the over 55 Del Webb development at Hill Country Retreat in Alamo Ranch are sure to be pleased with the proximity of the new clinic to their retirement community. Previously, residents would have had to travel to the South Texas Medical Center for similar treatment. 

For additional information on the new clinic, or for information on residential development in the Westover Hills and Alamo Ranch areas, you can contact me at:  (210) 681-5252, or email me at:  EdBarrett@satx.rr.com 

To view other articles by Ed Barrett  and to search for homes in the Westover Hills/Alamo Ranch areas, to include customized searches of gated communities and foreclosure properties,  www.EdBarrettHomefinder.com