Slope failure saga in Hills of Rivermist subdivision

[majormadmax]

Zillow is a little better, but not much. They use the tax appraisals for homes that haven't been up for sale recently...

Cheers! M2

[mrstxcop]

Originally Posted by Cimboa

Thanks Mrstxcop for your info. Actually the place is called the Colony of Indian Springs located on Navajo Peace Road. I did look up some streets in that subdivision and looked up the appraisal value for some of those homes. Each one of them are depreciating. I don't know why, they are only about 2-3 years old. David Weekely bought some of the plots that were previously owned by DRHorton. My husband's company assigned a realtor to us and this realtor does not give us much help but is very honest about areas we pick. It's frustrating when you don't really know the area and this will be our retirement home as well. My children are on their own. I don't want to make the wrong decision.

Hi Cimboa. Okay, the neighborhood you are looking at is across the street from my inlaws neighborhood.

My inlaws home has gone down in value as well according to bcad.org, but as others have said bcad is usually very low. When we sold our old house our bcad home value was 93k but we sold it for 150k, just to give you an idea.

Please feel free to contact me via DM (direct message) with any questions you may have regarding areas of San Antonio. My husband and I are both SA natives and we can give you some honest opinions, especially if this is going to be your retirement home. Also, my husband is a police officer and although he has worked the majority of his time on the RiverWalk, he has also policed the streets of SA for 2-3 years overnight, so he has a good perspective of areas at night.

Good Luck Cimboa. DM me if I can help in any way...

[Cimboa]

Originally Posted by MattTx

Sorry but if you are looking for your "retirement" home, you can pick a home in a better area.

Not sure what your budget is, but if you can afford an older home in an more established area, it is what I would personally do. In my opinion

We are looking at $200-250K. Any suggestion of an area with older homes and in a pretty safe neighborhood?

[TexasRedneck]

Come up to New Braunfels and look around.....LOT less headaches, IMO.

[majormadmax]

Wow, has it really been a year?!?

Rivermist neighborhoods mark one year since wall failure - San Antonio Express-News

An excerpt...

Homeowners reselling their homes appear to have taken a price hit in both Rivermist and the Hills of Rivermist after the wall failure.

A look at more than 100 home sales across three years reported in the San Antonio Multiple Listing Service shows that Rivermist, the original section of the neighborhood that opened for sales in 2003, saw per-square-foot sales prices dip an average of $7.07 to $75.12 in the year since the wall collapsed when compared with sales from 2008 and 2009.

In the Hills of Rivermist, which the builder opened for sales in 2005, the price per square foot dropped by $7.64 to $72.86 in the year after the incident. If a bank-owned property is removed from last year's sales, the per-square-foot price averaged $75.19.

In contrast, the median price of a San Antonio area home rose 1.7 percent in 2010, although the real estate market varies by location and prices never move in lockstep across an area.

Cheers! M2

[trexie1]

Originally Posted by Cimboa

Thanks Mrstxcop for your info. Actually the place is called the Colony of Indian Springs located on Navajo Peace Road. I did look up some streets in that subdivision and looked up the appraisal value for some of those homes. Each one of them are depreciating. I don't know why, they are only about 2-3 years old. David Weekely bought some of the plots that were previously owned by DRHorton. My husband's company assigned a realtor to us and this realtor does not give us much help but is very honest about areas we pick. It's frustrating when you don't really know the area and this will be our retirement home as well. My children are on their own. I don't want to make the wrong decision.

We just bought on Howling Wolf and think we are really going to love it there. I got out and walked the streets and talked to some the neighboors and they had nothing but great things to say about the "The Colony"!!!