NCAA Women’s Final Four to boost S.A.

The upcoming NCAA Women’s Final Four is going to be a big boost the San Antonio economy, according to William Pack of the San Antonio Express-News.    The games will be played in the Alamodome in downtown San Antonio on Sunday, Apr. 4th and Tuesday, Apr. 6th.  It is estimated that the Final Four is going to generate $20.9 million in spending from about 28,000 visitors from outside the San Antonio area.

Sporting events such as the Final Fours have become big economic generators because of the large number of out-of-town fans they draw, and the amount those fans spend at local restaurants, auto rental outlets, hotels and tourist attractions.  In addition, this time there are two teams from the region, Baylor and Oklahoma, and more fans than originally estimated may decide to attend in person.  Seating in the Alamodome has been capped at 23,000 for the championship, but it could be expanded if demand warrants.

Compare the projected $20.9 million impact to previous San Antonio events:

• 2009 Washingston State vs. Notre Game football game at the Alamodome - $15.6 million
• 2008 Rock 'N' Roll Marathon - $20.9 million
• 2008 Mens Final Four at the Alamodome - $47 million
• 2007 Valero Alamo Bowl - $42.6 million
• 2007 Big 12 Championship football game at the Alamodome - $30.5 million
• 2002 Women's Final Four at the Alamodome - $17.1 million to $20.3 million

On a personal note, as a graduate of Baylor University, Go Lady Bears!

Buyers, Are You Ready to Buy a Home?

With the incentives offered by our government, in San Antonio we've seen a lot of younger, first time buyers out looking for a home to purchase.  Some have found their dream home and are enjoying their new lives as homeowners.  Others have decided they were just not ready to make such a big decision, even with the incentive dangled in front of them.  So, how do you know if you are ready for home ownership or not?  One way is to prepare!  Here are 10 guidlines to follow before jumping into action:

1. Decide what you can afford.  Generally, you can afford a home equal in value to between 2 and 3 times your gross income.
2. Develop your home wish list.  Then, prioritize the features on your list.
3. Select where you want to live.  Decide on three or four neighborhoods you'd like to live in, taking into account the distance from work, recreational facilities, schools, etc.
4. Start saving.  Do you have enough money saved to qualify for a mortgage and cover your down payment and closing costs?  Closing costs average between 2 and 7 percent of the home's price.
5. Get your credit in order.  Obtain a copy of your credit report to make sure it is accurate, and to correct any errors immediately.  A credit report provides a history of your credit, bad debts, and any late or slow payments.
6. Determine your mortgage qualifications.  Talk to a lender to find out how much mortgage you can qualify for, and what type of mortgage is best for your particular situation.
7. Get pre-approved.  Organize the documents the lender will need for the pre-approval.  Such things as W-2's, copies of pay stubs, account numbers, and bank statements are usually required.
8. Look for other sources of help with the down payment.  If you are short of cash for the closing costs, check to see if you qualify for any special mortgage or down payment assistance program.  Or, if you have an IRA account, you can use the money you've saved to buy your first home without paying a penalty for early withdrawl.  Also, ask family members for assistance to get you going.
9. Calculate the costs of homeownership.  This should include property taxes, insurance, maintenance and utilities, and HOA feew, if applicable.
10. Contact a Realtor.  An experienced Realtor can help make your purchase a smooth process from start to finish.

Coming Soon in San Antonio....

The Lebanese Festival

This Friday, November 6 at 6:00 p.m. - 11 p.m.

And Saturday, November 7 from noon - 11 p.m.

And Sunday, November 8 from noon - 6 p.m.

The St. George Maronite Catholic Community will host a Lebanese Festival to share the beautiful heritage of the Lebanese tradition with San Antonio and surrounding communities at-large. This promises to be a fun-filled family cultural celebration showcasing the Lebanese of San Antonio and the rich heritage that has been preserved since the Lebanese first immigrated in the 1880’s. Visitors will enjoy authentic Lebanese food, indoor stage performances by the Lebanese dance troupe, learn how to Dabke (the traditional folk dance of Lebanon), enjoy Friday and Saturday evening performances featuring a live band and so much more! New this year…. Relax in our ‘Oasis section’ featuring Lebanese hors d’ oeuvres and imported beer and wine!

San Antonio Neighborhoods, Old and New - Part 1: The King William District

San Antonio, Texas, the Alamo City,  is made up of hundreds of diverse neighborhoods, both old and new.  In the next few posts, I want to explore a few of those areas and their current real estate market information. 

The new home construction in the last half century or so in SA has been mostly concentrated to the north and northwest of downtown, but the older neighborhoods near downtown are becoming trendy and in some cases, much more expensive.  Many of these homes are 80 to 100 years old, and are being lovingly restored by families who want to live close to where they work, or are attracted to the many downtown sites and events.

In his blog titled "Building San Antonio: Living Inside the Loop",  David Matiella calls the midtown San Antonio neighborhoods of King William, Lavaca, Monte Vista, and others, the now "hot real estate". I want to focus on one of those, the King William neighborhood,  a 25-block area near downtown on the south bank of the San Antonio River. In the late 1800's the King William District was the most elegant residential area in the city.

According to the San Antonio Conservation Society,
 
"The King William District occupies land that was once irrigated farm land belonging to the Mission San Antonio de Valero, the Alamo.  When the mission was secularized in 1793, the lands were divided among resident Indian families from the mission or sold at public auction.  The area called the King William Neighborhood of today was subdivided into lots in the 1860's and laid out with the present streets.  It was about this time that a great many Germans who had immigrated to Texas in the 1840's began to settle in this area and it became known as "Sauerkraut Bend" to the rest of San Antonio.... In 1967 the King William District was designated the first Historic Neighborhood District in Texas." 

Available King William Homes:
Currently in King William, there are 14 homes for sale, ranging from $142,000 for a 2 bedroom, 1 bath home with 1059 square feet, to $2,630,000 for a 6000+ square foot home / guest house / studio that's been totally updated and is situated on the river.  Most are priced below $500,000.  To get more information on any of these homes, contact me.

2009 Sales in King William:
So far in 2009, there have been 8 sales, ranging from $112,500 for a fixer-upper, to $580,000 for a 3784 square feet updated home.  Sales ranged from $48 per square foot to $197 per square foot.  The updated homes sold in the mid to upper $100's per square foot, and the homes not updated sold below $75 per square foot.

Coming Events in King William...

The next free concert in the King William Park is coming up Sunday, Oct. 11 at 6:30 pm. with the Viva Tango Quartet and the Puro Tango Argentino Dancers.  This is the sixth and final concert in 2009.

Saturday, December 5, 2009 is the annual King William Holiday Home Tour which showcases the historic preservation and renovation of the district.  The tour is held yearly on the first Saturday of December, and allows visitors to view private homes in the neighborhood.

The annual King William Fair helps kick off the San Antonio Fiesta week next year on April 24, 2010.