Buying the right home is certainly important, but choosing the right neighborhood can be just as important, both for residents and investors. Neighborhoods can be distinctly different, so finding the right neighborhood in Floresville usually takes a good deal of research, an examination of both quantitative and qualitative factors. Here, then, are some tips on how to find the right neighborhood in Floresville. But in the end that neighborhood has to be a good fit for you and your family. So these are some points on how to find the right neighborhood.
Examine Local Pricing
To find the right neighborhood in Floresville, you will need to analyze pricing, both current and past, of the neighborhood’s homes and the town’s apartments or homes for rent.
You can use sites like Zillow and Streeteasy to find a price history of the neighborhood(s) under consideration but don’t depend too heavily on their data as it tends to not be that accurate for Texas.
Texas is a non disclosure state so sales prices are not public information. Because of that real estate figures on those sites are a guess at best. And if you notice their disclaimers it will say their figures can be inaccurate.
The Realtors® will have those figures from the local MLS. Experts recommend looking at pricing for the past two to three years. And they also advise examining not only average sales prices but price appreciation on recently sold properties and how much they are selling under or over the asking price. It’s also a good idea to check market reports from local brokerage firms.
Check Absorption Rates
The neighborhood’s absorption rate is also important. These figures are available through local brokers and pertinent real estate sites and can give you a good idea of the sales pace of the neighborhood, being derived from the number of sales vs. listing inventory.
You can get the monthly absorption rate by dividing the total listing inventory by the number of sales in a month. This will yield sales activity of the neighborhood, letting you know how strong the market is there and whether it’s a good area for investment. It’s essential to get a good feel for the market in this way before putting down your money.
A sellers market is considered less than 6 months on market vs a buyers market is more than 6 months on market. While based upon this table below, Floresville looks like a buyers market, don’t be surprised to find it is a sellers market in Floresville based upon the subdivision. The conditions report takes all areas in the statistics which can be misleading. That is why a local Realtor® is so important. That local agent understands that market and the different areas. So while one area can be a sellers market, another area may be a buyers market.
Whether you live in the property or rent it, neighborhood amenities will be an important consideration to help you find the right neighborhood in Floresville. You should also be able to detect a strong sense of community in the neighborhood as evidenced in the areas you visit such as local restaurants, stores or even the school.
In this area of Wilson County because of the rural nature you will not have public transportation but you may have a carpools for work or school. Some of the subdivisions have park areas, one has a riding trail, some have lakes or ponds with picnic areas and playgrounds.
Track Neighborhood Growth
Most of the time, increasing home values is a phenomenon of proximity. When people (both individuals and businesses) are priced out of one area, they will move to the nearest, more affordable neighborhood. Tracking this kind of growth in potential neighborhoods will help you find the right neighborhood in Floresville. Those adjoining neighborhoods can be the next increasing area.
Observe at Ground Level
You can learn a lot by talking to real estate agents and checking online sources, but nothing beats a ground-level, in-the-trenches view.
So when you think you’ve found a likely neighborhood, it’s time to hit the sidewalk with some shoe leather. Walk around the neighborhood observing carefully, use the public transportation yourself, do some shopping in local stores, and talk to neighborhood residents.
Statistics like crime statistics can be misleading at the least. So if you want a better idea of how safe a neighborhood is, talk to homeowners and local business people. Also realize that most people love their neighborhood and don’t see its flaws. But things are revealed in the conversations you will have. Some of the areas in San Antonio will be tagged and repainted and tagged again. So it helps to do more than one drive by.
Location is everything, they say, and so it is. So you really have to put in the time and effort and do the research to find the right neighborhood in Floresville. But you don’t have to do it all yourself. The right real estate professionals can make it much easier to find the right neighborhood. And we are ready to help you do just that.
Are you ready to buy a property in Floresville? We can help! Send us a message or give us a call today! (210) 216-7722
As the Floresville Real Estate Agent – Faye Y Taylor is here for your questions and to help