Solar Panels and selling your home plus some San Angelo Housing Data

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San Angelo Solar PAnels

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 on 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-year 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! 

- Janet Ridgway, REALTOR® 325-212-9451

-Samantha Tarr, REALTOR® 325-340-7252

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Thank you for your time today
We look forward to working with you now or in the future...

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