VIEW THIS WEEK’S OPEN HOUSES

The weather is perfect for open house tours this weekend! Click above to stay updated as new open houses are added throughout the week.

SAN ANGELO NEWS: Solar Panels Update

I wanted to follow up on solar panel information for two reasons. First, we recently heard from a client who nearly purchased solar panels from a door-to-door salesperson before reading my last update. After checking into the company, they found it was a potential scam! Second, just last night, a solar salesperson knocked on my door, and they weren’t pleased when I declined their pitch. With nice weather, many are out pushing solar installations without sharing the full story. Here’s a quick summary of what’s happening in San Angelo:

While I am not against residential solar panels, I strongly recommend doing your research, especially with leasing options. Leasing can impact resale value and complicate home sales, especially if the buyer cannot or does not wish to assume the lease. Every week, we meet homeowners who’ve installed solar panels, only to realize the impact on their home’s value later. We’ve even seen situations where owners were paying monthly fees, only to find the panels weren’t hooked up properly to generate energy savings!

As a general rule, solar panels add about 3-4% of your home’s value on a good day. So, if you’ve paid $50-60k upfront, you likely won’t recoup that cost in resale. If the panels are leased, the balance may need to be paid off from your equity at closing, unless the buyer assumes the lease—though that is rarely guaranteed. If you or someone you know is considering solar panels, make sure you’re working with a reputable company and asking the right questions.

INTEREST RATES

With the recent election, the stock market has seen all-time highs, and the Federal Reserve dropped its overnight rate by a quarter point. So why are mortgage rates still high? The bond market remains uncertain about inflation trends. While some indicators are on target, others—such as housing costs—still have ground to cover. The Consumer Price Index, due out today, may come in slightly higher than expected.

For the remainder of 2024, we don’t expect much change in mortgage rates, although the Fed hints at a possible cut in December. We should start to see gradual decreases in rates in 2025.

MARKET REPORT

The real estate market in San Angelo remains steady. Inventory has decreased by about 50 homes since September, and last week’s election kept some buyers on pause. Now that election results are clearer, we expect a strong close to the year. December often sees an uptick in activity due to various factors, including military moves (January is a common transfer month) and year-end tax considerations.

In-person visits, especially during the holidays, allow buyers to explore options firsthand. Video calls are helpful, but most buyers and agents prefer an in-person view before finalizing a purchase. As always, tax-motivated sales continue to drive activity before year-end.

Current Listings by Price Range:

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

We’ve also included a chart with up-to-date real estate activity across San Angelo and nearby areas, using data from the SAAR MLS as of 11/12/24. If you’re looking to buy or sell, let one of our professionals guide you.

NEW CONSTRUCTION

San Angelo’s MLS currently has 94 new homes available, featuring a wide range of prices, neighborhoods, and amenities. From low-maintenance patio homes to semi-custom homes on sprawling 20-acre properties, there’s something for everyone. Our team has the experience to make your new home purchase seamless.

If you’re a first-time buyer, we can connect you with lenders who offer grant programs and down payment assistance. If you have a home to sell before buying, our team can streamline the process, reducing the stress of owning two properties.

Contact Us:

Janet Ridgway 📞 325-212-9451
Samantha Tarr 📞 325-340-7252

Explore New Construction Homes for Sale – Click here

COMMERCIAL REAL ESTATE

The San Angelo MLS currently lists over 74 commercial properties for sale and 44 available for lease, including office spaces, retail locations, and warehouses. Here’s the breakdown of commercial properties by price:

• Under $200k
• $200-400k
• $400k+

Whether you're looking to buy or lease, San Angelo offers opportunities for businesses of all sizes.

View All Commercial Properties

Feel free to share this newsletter with anyone who may be interested! 

- Janet Ridgway, REALTOR® 325-212-9451

-Samantha Tarr, REALTOR® 325-340-7252

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