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Solar Panels and selling your home plus some San Angelo Housing Data
Dated: June 12 2024
Views: 782
SAN ANGELO NEWS
I do not want this to come off like I am against solar panels for residential homes. I do want to get the point across that I am against leasing solar panels especially when you do not know the impact they will have when selling your home. Like most cities, San Angelo has a lot of door to door sales for solar panels right now. Every week we come across a homeowner who needs to sell their home, has recently installed solar panels and is not aware of the impact the panels will have in the value of their home. We have even seen homeowners paying the monthly lease fee and the panels were not even hooked up properly to receive the energy savings.
On a good day, solar panels are worth 3-4% of the value of your home. So, if you pay 50-60k up front, you will not get that money back if you decide to sell. If you lease the panels, they will need to be paid off in full out of your equity at closing. There is a chance for the buyer to "take over" your payments but that is no guarantee. If you or someone you know are considering solar panels, make sure they know the right questions to ask and are dealing with a reputable company.
MARKET REPORT & INTEREST RATES
Today the Fed meeting wraps up and new May inflation data is released. I have been waiting for inflation data to leak and it just did! Inflation looks to have cooled and it should be a good day for the stock market and mortgage rates. The stock market futures just soared and the 10 yr treasury just tumbled! Hopefully the good news hangs around for a while and I can report lower rates next week!
Here is a look back at the last 30 days on our MLS for residential sales. I have pulled the different types of loans and interest rates for the 129 closings that took place.
Over the past week we have 84 new listings, 35 closings and 48 homes going under contract. Inventory in San Angelo is still hanging around 450 homes for sale. We are seeing builders getting their homes completed so those numbers should be going up.
San Angelo has 447 active homes for sale as of 6/12/24. Here is a breakdown of price ranges as well as a link to check them out.
Under 100k
100 - 200k
200 - 300k
300 - 400k
400k+
Feel free to share this newsletter with anyone who may be interested!
- Ryan Newlin, Broker & Owner
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!
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San Angelo Association of Realtors® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
