San Antonio’s high-rise condos are an attractive home choice for buyers who can appreciate the many amenities and conveniences condos have to offer, such as; convenient location – nearby to work, shopping, entertainment, etc., – security, state-of-the-art workout rooms, swimming pools, concierge services, maintenance crews and more. Many condos additionally offer on property dining facilities, salon services, card rooms and libraries.

As with any property purchase, the newer and more upscale condos in the choicest neighborhoods, featuring the best views, oversized balconies, granite countertops, top-of-the line appliances, etc., can demand the highest prices, ranging from the $400,000s to even a million $ and up.

However, many older more modestly priced San Antonio hi-rise condos can be found in the $100,000 and even less price range.

Purchasing a San Antonio High-Rise Condo

With such a wide choice in pricing, location and availability, purchasing or leasing a San Antonio High-Rise condo can be a daunting and confusing undertaking without the aid of an experienced real estate agent with expertise in this unique housing market.

A competent Realtor who understands your lifestyle and budgetary requirements has the resources to efficiently identify the available properties that would most fit your needs.

It is a certainty that as the economy slowly improves, San Antonio will continue to be one of the fastest growing cities in the U.S. and the need for housing will increase. As a result, purchasing a San Antonio High-Rise condo as a rental property or primary residence might be a pretty good idea at this time while purchase prices are still quite competitive and the available inventory is high.

The San Antonio luxury home market is alive and fairly well, but nowhere near as hot a market as in the days prior to the country’s financial downturn. The federal tax credit incentives for new and move up home buyers isn’t expected to have much of an impact on the luxury market, since buyers at that level ( $500k + ) would usually not base a buy or not buy decision on the current home buying tax credits now in place.

As resale home buyers see listing prices slowly beginning to rise in the first quarter of 2010, sales in the $200k price range are beginning to perk up considerably this spring, spurred on by federal tax incentives and very attractive buyer’s market conditions. However, for the most part, luxury properties in the San Antonio area are still experiencing much longer than average time on the market then more moderately priced properties.

San Antonio Luxury homes for sale

A wide range of new and resale properties designed to accommodate every life style and offering every amenity imaginable can be found in the San Antonio area. From high-rise condos offering magnificent city views to sprawling ranch properties and luxurious villas of impressive architectural design, the San Antonio luxury homes for sale marketplace is diverse and impressive.

The Bottom Line

A greater demand for moderately priced housing and a lesser demand for high-end properties would mean that a luxury property buyer in San Antonio has more leverage now in negotiating a purchase price than in a more stable economic environment.

As of early 2010, some 220,000 square feet of San Antonio office space comprising nearly 19 percent of available office space in the city remains vacant, posing a serious problem for commercial property owners.

Curiously, the per square foot cost of renting office space in San Antonio has increased some 17 cents per square foot since the last quarter of 2008, to a median cost of $20.41 per square foot as of this writing. However, under current market conditions landlords frequently will make concessions to a prospective tenant that may offset some of the rental cost.

An upturn in the nation’s economy coupled with the city’s friendly business climate and the commitment to San Antonio shown by such companies as Wells Fargo and the Tesoro Corporation, among others, bode well for the future of commercial property owners in San Antonio.

Certainly, when the office space glut in San Antonio is finally resolved, lenders will have to loosen their presently tight grip on credit so that new development can continue to provide the office space needed for future growth.

Leasing Office space

Leasing office space, particularly for a small company, deserves considerable thought and planning as well as expertise in negotiating with the landlord. The importance of knowing what will best suit your needs, budgetary constraints and requirements, both for the present and future, will unquestionably have a major impact on the profitability of your business.

Office space planning, negotiating a lease that will allow for future expansion or sub-leasing, and many more details should be undertaken by experts such as an interior designer, real estate attorney, etc. in order to obtain a lease that will provide the most short and long-term benefit.

No question the recession, as it has affected San Antonio. is showing definite signs of easing. Home prices, though slowly rising in appreciation are still affordable, and unemployment figures are slowly dropping.

As to foreclosure sales in San Antonio as of the latest statistics available at this time –and subject to continuous fluctuation- there are 4,401 foreclosures on the market offered at a median price of $93,738, down 0.8% from February.

The Foreclosure Process

• Pre-foreclosure: In pre-foreclosure the bank has served notice that the mortgage is in default, and the borrower is given a specific time to bring the mortgage payments up to date or face eviction and loss of the property (foreclosure.) During this time the property owner still has time to “cure” the default or enter into negotiations with a buyer. If the owner has sufficient equity in the property, the buyer may be able purchase the property from a “motivated” seller at a considerable discount

• Public Auction: Foreclosed property purchased at public auction can offer real bargains and real risks as well, unless the potential buyer has had a chance to title search, examine the property condition, etc. Public auctions can be tempting for would-be investors, but unless one has the knowledge and experience required there can be many pitfalls.

• Properties repossessed by the bank (REO) due to a mortgage default are resold to recover the loan amount due. These properties generally will have needed maintenance and repair and title clearance taken care of by the lender. Although not always the rule, REOs can sometime be purchased as a “short sale” meaning the property is offered for sale at a lower price than the amount still owed the bank. Negotiation outcomes are variable, depending on the particular property and prevailing market conditions

A multipurpose building project for Texas A&M University-San Antonio was approved on Friday, March 26th. The project is scheduled to begin in April, and planned for completion by July, 2011.

The building will occupy 700 acres of land between Zarzamora and Moursund Roads on the south side of Loop 410. The 91,000 square foot building will house the University library, the bookstore, student services, classrooms, faculty, administrative offices, a computer center, labs, and a food service facility.

Despite a slowly recovering economy, San Antonio expects to see a moderate increase in new construction (about 6 percent) in 2010, mostly public works and utility projects.

• More Real Estate Happenings Around Town

• Fort Sam Houston: A multimillion dollar contract has been awarded to the M.A. Mortenson Construction Company (based in Minneapolis) to build a new headquarters building at the Fort for the Army Installation Management Command (IMCOM).

• The San Antonio Shopping Center: Dating back to the 1950’s the San Antonio Shopping Center, located on El Camino Real, at San Antonio Road is one of the largest of its kind in Mountain View, and long due for modernization. A modernization and expansion is scheduled for startup in June or July, 2010. The project was awarded to the San Francisco based developer Merlone Geier Partners, and is expected to generate some 700 construction jobs and about 600 permanent jobs after its expected completion in a year to year-and-a-half.

• The coming summer should see the grand opening of two high-profile luxury condominium projects in San Antonio; the Broadway, located at the corner of Hildebrand Avenue and Broadway, adjacent to Alamo Heights, and the Alteza, atop the Grand Hyatt in the heart of downtown. These super luxury condo homes will range in price from approximately $300,000 for a one bedroom, to over three million for a penthouse

The San Antonio commercial real estate market, despite the upward momentum of the residential real estate market, is still struggling through the foreclosure mess. Unfortunately, the San Antonio commercial real estate market still makes up a large section of the San Antonio economy.

Where are the New Commercial Construction Projects?

Because the San Antonio commercial real estate market continues to decline due to the number of foreclosures, the number of new commercial construction projects continues to struggle. However, amidst all of the problems surrounding the slow rate of new commercial construction projects and the tight lending standards that have inhibited builders from starting new construction jobs, the medical industry has come to save the day.

Medical Industry comes to the Rescue

The $16 billion-a-year medical industry, which makes up a good portion of San Antonio’s economy, has allowed many commercial construction projects to move ahead, despite the tight lending environment.

The reason for this may lie with the fact that most lenders see the medical industry in the San Antonio commercial real estate market to be quite low risk. In fact, many lenders view construction for the medical industry to be less risky than other publicly funded projects.

Even with lenders turning a deaf ear to new commercial construction projects, doctors and developers have been able to make deals with the lenders to build necessary medical space. It doesn’t hurt, either, that most doctors have great credit.

The Medical Industry gets the Green Light from Lenders

Many lenders in the San Antonio commercial real estate market are requiring builders and developers to have minimum occupancy and equity requirements for new projects; however, if doctors have tenants lined up, lenders seem willing to let these requirements pass.

In addition to giving the green light for medical industry construction, lenders have also begun to offer very attractive and competitive loans.

As a result, the health care industry in the San Antonio commercial real estate market continues to grow, even as the commercial real estate industry otherwise continues to struggle.

In addition, the nation expects that under Obama’s new healthcare legislation millions more people will be able to obtain health insurance, thereby increasing the need for new medial space.

The Alamo Heights real estate market is healthy and active, and it seems as if the worst of the housing slump is behind us. Interest rates are low, home choices are plentiful and real estate prices remain low. So, what are you waiting for? Isn’t it time you found yourself a little piece of the Alamo Heights real estate market?

Many renters grapple with the decision to buy; and, let’s face it, buying isn’t for everyone.  However, for many renters, it just makes good sense to purchase a home in the Alamo Heights real estate market. And here’s why:

1. A home offers you pride in homeownership – Many homeowners state that they purchased their first home so that they can enjoy a better quality of life. Along with a better quality of life comes pride in homeownership. In short, there’s something inherently satisfying about purchasing your own home. The pride and enjoyment many people get out of owning a home is a large factor when choosing to purchase instead of rent.
2. A home is an investment – Sure, we’ve all heard our share of horror stories from the near collapse of the national housing market, but the reality is that a home is still one of the best investments you can make. If you purchase a home now in Alamo Heights and stay put for a few years, you will likely see an excellent return on your investment.
3. A home can provide you with tax savings – Many people don’t realize just how much you can save on taxes from mortgage interest alone. If you purchase a home with a mortgage payment of $1,000 a month and you fall into the standard 28 percent tax bracket, you can look forward to saving over $3,000 on your annual income taxes.
4. A home can provide you with freedom and privacy – The privacy you can enjoy owning a home is often a big determining factor for many renters. In addition, your home is unlike any leased property, as you enjoy the freedom to make any changes you want, without asking for anyone’s approval.

There are plenty of fantastic downtown San Antonio condos from which to choose. And, let’s face it, one is better than the other in terms of amenities, service and features.

Along with owning downtown San Antonio condos, many condo owners belong to condo associations. Many higher end properties have condo associations in place for their residents, thereby allowing the building and its residents to pay someone to manage and care for the property.

If you are interested in purchasing one of the downtown San Antonio condos, you may wonder what exactly is involved with belonging to a condo association. Here are just some of the advantages of owning a property that is managed through a condo association:

• A condo association takes the pressure off of maintaining and repairing the building and its common grounds. Instead, residents of downtown San Antonio condos that are under a condo association enjoy the convenience of leaving all of the building maintenance and upkeep to the professionals.
• A condo association can work in one of two ways: it can be professionally managed by a cooperative of owners associations or it can be managed by the resident, who simply reports any issues to the condo association.
• A condo association enforces the rules and bylaws of the condo community or building, thereby maintaining property values and the enjoyment of all the residents.
• A condo association can increase your property’s value, as buyers will appreciate the value of a professional organization maintaining the property.
• A condo association provides consistent and professional service for everything related to the building and common grounds. From the community swimming pool to the landscaped grounds, a condo association ensures that all aspects of the condo community or building are taken care of, thereby allowing residents to lead a truly maintenance-free lifestyle.
• A condo association may provide an added sense of security, as it will enforce all bylaws of the condo association, thereby eliminating potential problems before they begin.
• A condo association because it sets rules and creates a high standard for the community in which it is located, the property values remain high and the residents enjoy the benefits of a beautiful condominium community.

Carolyn Capalbo, Shows us how to Ease the Stress of Buying a Home

Buying a new home can be an exciting and exhilarating time, but let’s face it, it can be quite stressful, too. Most individuals find that buying a property ranks high on their list of stressful events, mainly due to the fact that there is a lot at stake financially when you buy a home.

For many home buyers, however, the act of purchasing a new home is minimized because they stay in control of the process. In other words, there are things that every home buyer can do to minimize their stress and ensure that their home buying experience is a positive one.

Carolyn Capalbo 4 Rules

1. Hire a great real estate agent – Sure, you can go it alone when you purchase a new home, but in reality a qualified real estate agent will make the entire process run a lot more smoothly. A great real estate agent ( like Carolyn Capalbo) will educate you on the process, will walk you through the complicated process of closing on a home, and will be your best advocate when it comes to negotiating. Before you hire a real estate agent, interview several agents and find the one that best fits your needs. Make sure your real estate agent has plenty of experience with the local real estate market, and make sure you have a good rapport with him or her.
2. Spell out your expectations clearly to your real estate agent from the beginning – Let your real estate agent understand what you expect from him or her before the process begins. Make sure you receive regular updates and that you are involved in every facet of the transaction. In short, let your agent know that you want to be kept in the loop during the entire process.
3. Understand that the home buying process can take a long time and plan accordingly – The process of buying a new home can be quite long and quite tedious. Therefore, plan ahead and set enough time aside before you begin the home buying process. For example, don’t begin planning during your busiest season at work or during your child’s tournament sports league.
4. Make a commitment to stay informed and educated throughout the entire process – Don’t just assume that because you have a good real estate agent that you don’t need to learn about the process as well. There is no excuse for not educating yourself on the home buying process; buy books, search the Internet and ask your Realtor plenty of questions so that you will stay informed – and therefore make the best decisions – during the entire process.

VIP Realty San Antonio would like to thank Carolyn Capalbo for her great insight!

San Antonio boasts a dynamic economy and a thriving housing market. In particular, San Antonio’ s luxury housing market is showing signs of excellent growth, thanks to an exceptional supply of luxury homes on the market.

San Antonio luxury homes can be found in any number of luxury neighborhoods, including Olmos Park, Alamo Heights, the Dominion and Terrell Hills, just to name a few. From expansive lots to architecturally significant – and sometimes historic – homes, real estate in San Antonio is exquisite.

For many, it is no secret that the San Antonio luxury housing market is generally dynamic, given that the San Antonio economy continues to grow. From business and high-end corporate relocation to retirees heading where the weather is temperate and the sky is blue, it’s certainly no wonder why the housing market continues to grow at a healthy rate. Combine that with the excellent work force in Houston and the many business and employment opportunities available in a wide variety of sectors, and it becomes clear that San Antonio is poised for an excellent future.

If you are in the market for San Antonio luxury homes, you may be quite surprised to learn that luxury is now reaching a whole new level. San Antonio luxury homes with granite countertops, whirlpool tubs and steam showers are the norm; in fact, you can often find these features in moderately priced homes throughout San Antonio. It’s the newest trends in luxury homes that will knock your socks off:

• Spa-inspired bathrooms – Don’t expect the usual jetted tub and double vanity when you begin your search for San Antonio luxury bathrooms; instead, expect a spa experience. Today’s luxury homes now have such four-star-hotel-inspired themes as oversized saunas, vertical spas, towel warmer drawers, and heated floors. You can also expect eco-friendly touches, such as nontoxic building materials and natural building materials. Most master suites will feature oversized spa bathrooms; many of which are as big as the bedrooms themselves.

• Smart homes – Today’s San Antonio luxury homes are decidedly “smart,” as they integrate technology into every conceivable area of the home. From security systems to home automation, expect to control nearly every area of your luxury home with the touch of a button. Expect the price tags for these smart systems to hover in the $40,000 range.

• Sustainable environments – From super energy-efficient windows and doors to eco-friendly flooring and water-conserving faucets, expect today’s luxury homes to keep a close eye on the environment, and the impact that homes have on it. Think glass, metal and stone instead of plastic, for example, or forest service-certified wood and chemical-free glues.

• Indoor/Outdoor living spaces – With the trend of staying home instead of vacationing away comes a renewed interest in indoor/outdoor spaces. Don’t, however, expect these spaces to be ho-hum. Expect expansive, floor-to-ceiling windows that completely open to reveal an outdoor living space, as well as outdoor gourmet kitchens with stainless steel grills, granite countertops, and wine coolers, just to name a few.