Talk To Scott

San Angelo, Texas is home to 5 golf courses. Pretty good for a city of 88,000 people, huh? The course
that I enjoy most is Bentwood Country Club, which is home to one of our nicest courses and San
Angelo’s most enjoyable neighborhoods. What’s good about Bentwood? A bunch of things.
· Of course, the course is the main thing. Bentwood is a challenging course for the scratch golfer
and has lots of tee options so that a Senior or high handicapper is still able to enjoy a round. The
greens are the most difficult to putt in our area. The course winds its way thru the subvision,
giving many owners the opportunity to enjoy the park-like atmosphere of on-the-course living.
· Other benefits to living right on the course are growing your vocabulary—as an occasional golfer
describes his shot in language he learned from his drill instructor—not his mother.
· Living right on the course can save you money on golf balls. That’s right, sometimes one of the
golfers described above might deposit a golf ball in your yard. That’s when you learn that OPB is
your brand of golf ball( OPB means “other people’s balls”).
· Bentwood has something that fits everyone’s housing needs. Large ones for the growing family,
as well as patio homes for the empty nester.
· There are new homes and lots as well as older homes with mature yards and trees.
· There are many fun things for your kids to do. Youth golf, tennis, swimming lessons a playing
opportunities abound.
San Angelo and Bentwood just fit—relaxed, laid back and very friendly. Yawl come.

This is definitely one of the “coolest neighborhoods” in our fair city. Santa Rita is the place where people drive around on Sunday afternoons to look at houses.  Wonder where it got its name? It was named in honor of the first great West Texas oil strike in Reagan County. San Angelo used to be located to the east of the Concho River and as things boomed to the west, San Angelo spilled over the Beauregard Bridge and the citizens  named the neighborhood after all the “black gold” to the west.   Wonder why the wildcatters looking for oil named the rig Santa Rita?  Read  below.

Frank Pickrell was one of the partners responsible for the drilling of the Santa Rita No. 1.  The reason for the name “Santa Rita” is best told in Frank Pickrell’s own words:

“The name of Santa Rita really originated in New York.  Some of the stock salesmen had encouraged a group of Catholic women to invest in the Group I certificates.  These women became a little worried about the wisdom of their investment and consulted with their priest.  He apparently was also somewhat skeptical and suggested that the women invoke the aid of Santa Rita, who was the patron saint of the impossible.  As I was leaving New York on one of my subsequent trips to the field, two of these women handed me a sealed envelope and told me that the envelope contained a red rose that had been blessed by the priest in the name of the saint.  The women asked me to take the rose back to Texas with me — to climb to the top of the derrick and scatter the rose petals, which by then were dry, over the rig and to say ‘I hereby christen thee Santa Rita’.  I faithfully followed those instructions.”

So we have a neighborhood named after an oil rig which was named after a saint? Guess so. What does Santa Rita have going for it?

* Charm. Yep, it has it in abundance.
* Diversity. Mansions next to bungalows.
* Trees in abundance. Like pecans? We’ve got them.
* The river. It’s hard to beat the view of the Concho from Park Street.
* Traditions. Parades. “ The Night Before Christmas” display. You have to see it to be charmed by it.
* Confusing streets. Santa Rita started what is a San Angelo tradition. Streets start, stop, and disappear for a few blocks. Live here long and and you’ll know where it resumes.
* Paseo De Vaca. Cow Path Road to the non-Spanish speakers out there. Beautiful.
* Mr. T’s, best place to eat in town.

Come take a peek. You’ll like it.

The area most of us in San Angelo in refer to as Southland is the area south of Loop 306 between Knickerbocker and Sherwood Way. It’s San Angelo’s version of the “‘burbs.” Generally, the nearer a house is to Knickerbocker Road, the older it is. The westernmost houses are newer. Here are some of the many good things about this excellent neighborhood.

• Schools. This is one of the first things that I always think about when I am looking for a house. This area is served by two excellent elementary schools, Bonham and Lamar.

• Close to shopping. Southland is near Sunset Mall and all of the big box stores in southwest San Angelo.

• Close to transportation. Easy entry to Loop 306, College Hills Boulevard, Knickerbocker Road, and Southwest Boulevard—all major traffic arteries.

• Something for everyone. If you are a first-time homebuyer looking for a relatively inexpensive house, there is something for you. The streets closer to the “loop” contain smaller, less expensive houses. Streets like Oak Mountain and Palo Duro have large homes.

• Old and new. If you like older houses with mature trees, live more to the east. If you like new, live in the west.

• Trees. If you are going to live in San Angelo, you might as well have a tree.

• Rear entry garages. Almost all of the streets have this feature. It sure cleans up the front yard. One note on this. I don’t think you see your neighbors as much.

• Resale. Hey, this neighborhood really holds its value. Check that, it shows a steady growth in value. This is really something to think about, generally we don’t live in them forever.

Moving to San Angelo? Wondering where you should live? In the weeks ahead, I am going to share my opinions about various neighborhoods in San Angelo, Texas. Why would I do that? Well, I think about it  a lot, since my job as a realtor with Coldwell Banker Patterson Properties is to help people find homes or sell homes, If I am working for a seller, my job is to help get the best price for his/her property.  If working as a buyer’s agent, my job is to help a buyer maximize his dollar. Neighborhoods are part of that equation.

Some of the things that you read here are my opinions, but I think that many of my opinions have been formed by spending countless hours in the car, listening to buyers and a like number of hours studying the market for sellers—and helping them understand its complexities . So these are opinions….but not just whimsy.

What are the factors that come together and make a place a good neighborhood?

* Location. The neighborhoods proximity to schools, shopping, entertainment, churches,  etc.
* Looks.  Yeah, what it looks like. Does it have trees, water, and other things that are easy on the eyes?  This is way important. The neighbor with the two cars jacked up in his driveway probably hurts property values.
* Traffic. Busy streets are not good things. I had a buyer with me in the car several years ago who summed it up. “Never buy a house on a street with a solid yellow stripe down the middle.”
* Age. Generally, older neighborhoods have mature yards and trees—which I really like. But lots of people want new homes.  There is a trade-off. Newer houses have fewer trees, but they might have fewer plumbing problems.
* Neighbors. Duh. A bit self-evident, but important. I have little kids and the last house I owned was really nice, but none of our neighbors had kids. My children didn’t have anyone to play with. This diminished the neighborhood for me.
* Money. Of course, this is last, but important. Make the best choice that you can relative to your money. If you have $70,000 to spend, there is a great place for you in that price range. All you have to do is find it.

So where should you go? Well, that’s up to you. But in my next installment, I’ll pick an area to talk about.

I have to admit it. Some of you reading this ( or should I say both of you) might think that I am old. Ok, I’m 60, but I have come to believe that old is anyone who is 15 years older than I am. But I digress. What I am thinking about is interest rates. I am old enough to have borrowed money for a house at  14.25%. Nowadays, that would be a bad rate for a credit card. Rates right now are around 4.75% If you need a place to live, and we all do, quit renting and scrape the money together for a down payment and go buy a house.

When interest rates go back up, and they will, look me up and thank me for the heads up.  Think of it this way, interest rates go back up to 6.75%—still way cheap. On a $100,000 note, the difference between current rates and 6.75%  is $2,000 a year. If you stay in the house 10 years, that’s a savings of $20,000. That’s real money.

Get off the couch, and go to the bank and see what the mortgage officer says. The trip will make you money.

I have always loved music and like to listen to most of it…..unless the musicians are flopping about on the stage like a fish on a wharf. That’s where I draw the line. But I digress. We have some pretty cool musical things going on right in San Angelo, Texas, principal among them a fellow named Daniel Makins.  Daniel and I met a couple of years ago when he talked to me about him and his wife Claire making the move back to his hometown.  Well, he and Claire and his kids came home to the Concho and with him returned his passion for music. What kind of music is it? Folk, country, acoustical guitar playing good is what it is!  I recommend that you show up to any of his shows, but what I have enjoyed the most is his San Angelo New Folk Series.

Daniel has obviously spent some time on the road and along the way has met quite a few  talented musicians, many of whom he is bringing to our town.  It’s a good evening of music, maybe an adult beverage or two, and the wit and wisdom of Daniel Makins. He can really make that guitar sing and has a wide range of songs that are personal, poetic and wildly entertaining.  His guests are fun as well.  If you are looking for a great night out and something quite a bit different from dinner and a movie, try my favorite folk singer ( okay, aside from Woody Guthrie) some night.

I have included a link to his website and one of his tunes.  It’s just a taste of his music, but once you sample it, you’ll come back for more. http://www.danielmakins.com/calendar.html

I have to admit it: I am hooked on San Angelo. It’s a special place.  Many people who are natives tend to sell our town short. To them it’s ho-hum, small town and boring. Just sooooo wrong!  So I am going to share with you one of the many things that make us special.

First and foremost, let’s start with food. If you are talking food, let’s talk about Mr. T’s., my favorite place to eat. What is so special about “T’s”?  Let me count  the ways.

·        The owner, order taker, production manager, and chief cook and bottle washer, Robert Chandler. His blend of sarcasm, the special laugh, the baseball cap indoors, and his love of all things UT make him unique among San Angelo business owners. Where else can you go out to eat, get insulted, and herded like one of Robert’s favorite Longhorns to your table? Luckily, his lovely wife, Lisa, balances out the sarcasm, a yeng and yang thing. It’s a truly unique experience.

·        The ordering and seating system.  Here is T’s protocol. Slide inside the door, look for the end of the line at the counter, get at the back of it, and get ready to order. Don’t look for a menu; we don’t need no stinking menus. All you need to know is on the wall in front of you. When it’s your turn, be quick: Robert doesn’t tolerate slow play. When you have ordered, get your own drink and wait for directions. Don’t try to get a table before ordering. WAY OUT OF LINE. You will be chastised and moved .

·        Place to meet and greet. T’s is intimate, which is a nice way of saying it’s crowded.  You can run into a lot of folks you know, catch up on the news, read the paper, watch  a muted version of Fox News , (which when you think about it, isn’t all bad), and eat your lunch or breakfast.

·        Best of all—the food. The only way to describe the menu is Southern Comfort Food. Every day is a lunch special: meat loaf, fried chicken, pot roast, savory salads—my mouth is watering at the very thought. Every kind of sandwich is on the menu—all them perfect for the person who has worked up an appetite. Hamburgers, reubens, BLT’s, and my personal favorite—The Bob’s Special! But that is not all—desserts abound on the bill of fare.  Monster-sized cookies of kinds and pies, that leave you with visions of meriguine  piled to the ceiling, are in abundance.

·        T’s embodies the great place that we live in. Vibrant, unique, intimate, West Texas in every way, it’s a great metaphor for our tow

Many of you are living in my world; we have kids at home and are always looking for something to do. Entertainment isn’t cheap and a trip to the movie theater puts a huge dent in the family budget.  Well, do I have a deal for you.  Actually, Angelo State University has it. I don’t know what they call it, but I call the “Family Four Pack.” For $100, you can buy general admission tickets for a family of four to every ASU sporting event for the year. That’s right, volleyball, football, basketball (men’s and women’s), softball,  and baseball. If a ball is bouncing, spinning, rebounding, curving, spiraling or whatevering—you and your kids can be there.

It’s a great family atmosphere—safe, clean, and more or less “small town.” What do I mean by that? I can let my kids go to the concession stand by themselves without worrying. It’s one more thing that makes San Angelo such a great place. If I lived in Dallas and wanted to take the kids to a Ranger’s game, how much would that cost? Here, I can nestle in a seat on the third base line and watch some pretty good baseball for a lot less money.

Of course, I forgot to mention one more thing that makes  this a great deal. All of the teams are pretty darned good.  The coaches are class people who conduct themselves in a way that brings credit to the community and university.  Most importantly, the student-athletes compete hard, act right and are good at what they do. If you like athletics (even if you are just a casual fan), this is the place to be.

See you in the bleachers, at the gym, or in the stands.

The short answer is yes. Or maybe. Here is the skinny as I know it. The first thing that you need to know is that this is a credit for UP TO $8,000. Here are the key elements.

·         Only first-time home buyers are eligible. Or someone who has not owned a home for 3 years.

·         IT DOES NOT HAVE TO BE REPAID.

·         The credit is equal to 10% for the home’s purchase price up to $8,000.

·         Is there an income requirement? Well, of course, Uncle Sam is involved. Single taxpayers with income up to $75,000 and married couples with incomes up to $150,000 qualify for the full credit.

·         Is there a time frame for this? Yes, it applies to homes purchased between January 1, 2009 and December 1, 2009.

·         Wow! There is more. As I understand it, the credit is refundable, meaning filers will receive a refund of the full $8,000 even if their total tax bill (the amount they paid in withholding) was less than $8,000.

·         Any other strings? Of course. You must live in the house for 3 years or you have to pay it back.

·         How do you get it? Claim it on your return. If you have already filed your return for 2008, you can file an amended return for 2008 and collect.

Think about it, if you owed $6,000 and had $6,600 withheld from your paycheck, normally you would get a refund of $600. Now, you are eligible for up to $8000. If this doesn’t get you going, nothing will.

Wow! This is a really important topic, one that deserves a detailed explanation. This is probably the single most important thing for a potential seller to understand. Ok, here goes. You, the seller, must think about houses that are for sale as commodities, products for sale—not homes. These commodities compete in the marketplace for a buyer’s attention. They are inventory—just like chips on the grocer’s shelf.

Just like a good grocer knows the rate at which his chips sell, a good realtor will understand how fast houses in a particular price range sell. Think of it this way, in a particular price range or area—six houses sell a month. There are currently 48 on the market. That means there is an 8 month supply. That is a buyer’s market. If you are a seller, you must do something to distinguish your bag of chips, A.K.A. your house, from the other products for sale.

First of all, it helps to have the best house. However, It also helps to have the best price. You know that 6 are going to sell, so you must do all you can to have the best house AND the best price. If the scenario were different, and 6 sold a month and only 6 were for sale—Hooray—odds are yours is going to sell. Why? It is now a seller’s market.

The absorption rate speaks to the most important law of economics—supply and demand. High supply—low demand is a buyer’s market. Low supply—high demand is a seller’s market.

If you want to know what the absorption rate is and how it impacts you, talk to Scott.