VIEW THIS WEEKS OPEN HOUSES   

San Angelo had a couple new eateries open their doors for business yesterday. Nana's Sweet Shop on College Hills and Mil Amores on Sherwood Way. Nana's is located in the old ERA Newlin & Company building across the street from the Splash Pad and Unidad Park. Seems like a great location for a cold treat in this weather! Mil Amores has been posting photos of their menu items for a couple of weeks and the food and drinks look amazing! I always see people asking for something other than fried chicken and Tex-Mex... here you go! 

Property Tax info for the city, county and SAISD is not quite finalized yet. It looks like the city rate will be up a little and the county/ SAISD rate will stay the same. Appraised values from the Tom Green County Appraisal District were all over the board this year. Many property tax values decreased while others went up. It will be interesting to see what will be owed this year. 

Here are some instructions to see what you've paid in taxes for your property the last couple years. Find your house on the Tom Green Cad site and click the tax summary on the top left. This will show you what you paid in taxes the last couple years. The mapping portion of the Tom Green website has been upgraded and is pretty good as well. The map link is right next to the tax summary.

INTEREST RATES

Mortgage interest rates have been dropping this week. The FHA and VA average rates are now at 6%. This is the best rate seen all summer other than a couple of short exceptions. Hopefully this one sticks around. At the end of the week Jerome Powell will talk about the federal interest rate at a meeting in Jackson Hole. He could indicate what he plans to do with rates at the September meeting. Also, it looks like there might be some revised labor statistics coming out today that could affect what happens in September. The labor statistics may have been over-shot, which could spur on a larger rate cut. 

MARKET REPORT  

Housing inventory in San Angelo has been steadily increasing all summer. As of today, there are more houses on the market than there have been since covid began in 2020. Over the past week, there have been 100 new properties hit the market and 54 closings. Another 37 went under contract.  This is probably the most buyer friendly market San Angelo has seen in some time! 

I had a homebuilder who reads this newsletter ask for a deep dive into what happens after school starts to the market in San Angelo. I did some research this morning (the data is way too boring to write about here) and I found that August and September numbers are generally pretty close to each other. In October the home sales dropped. It will be interesting to see what happens next month with the interest rates getting better. There are already 100 homes with proposed closing dates for September.

There are 492 homes for sale plus another 173 under contract in San Angelo. Here is a breakdown of price ranges as well as a link to check them out.

New Construction Homes for Sale

Under 100k
100 - 200k
200 - 300k
300 - 400k
400k+

COMMERCIAL REAL ESTATE

I had all intentions to write a commercial market report this week but it didn't happen.. I promise it is coming!

The San Angelo MLS currently has over 62 buildings for sale and 38 for lease in San Angelo. See them all here: Commercial Sale  Commercial Lease

Feel free to share this newsletter with anyone who may be interested! Always feel free to contact me if you have any questions about this content or anything real estate reslated.  Also, are you wondering what fair market value of your property?  Contact me for a complimentary Comparative Market Analysis on your home. 

ERA Newlin & Company is San Angelo's premier real estate brokerage and we have been helping folks buy and sell since 2003. Since 2018, we have sold more homes for more money than any other real estate office!

Looking to BUY or SELL in 2024??
Interview me, Yvonne Acosta at ERA for the job! 
325-650-0984
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