The courthouse steps of Bexar Country have seen a lot of activity over the past year. Foreclosure auctions, unfortunately, have become an all-too-common occurrence, not only in Bexar County, but throughout most of the country.

Looking ahead, it is expected that mortgage lenders will be coming in to take back 1,652 properties throughout Bexar County in January alone. This will likely be the highest total on record and also a clear indication that Bexar County may not be out of the woods just yet when it comes to foreclosures.

Foreclosures at Record High

This hard news is even harder to take, considering that 2009 was a quite the dismal year for real estate in Bexar County.  In fact, the total numbers of properties that fell into foreclosure in Bexar County during 2009 was an astonishing 14,000, which is the highest number of foreclosures in Bexar County in nearly 20 years.

For many analysts and economists, this type of grim news makes it hard to see the silver lining in the real estate industry; but it is there, we just might have to look a bit harder for it.

Who’s in Jeopardy of Foreclosure

Because many homeowners’ adjustable rate mortgages that they took out in 2004 to 2006 are due to reset, the number of foreclosures is expected to continue well into 2010. However, the low interest rates may just be the industry’s saving grace amidst all of this doom and gloom.

Although the homeowners who secured adjustable-rate or interest-only mortgages a few years ago are falling onto hard times, it appears that the homeowners who purchased homes since then are having more luck hanging onto their homes.

Many homeowners struggling with interest-only mortgages, for example, often find themselves in an “upside down” situation; in other words, they can’t even sell their homes because they owe more on them than what they are worth.

Nationally, 23 percent of the properties across the nationwide were in this precarious position, while just 11 percent of Texas homes were underwater.

One of the problems with identifying when the foreclosure crisis in Bexar County will come to and end is that many lenders have offered moratoriums on foreclosures; unfortunately, this is often simply delaying the inevitable.

The real estate catastrophe of 2009 has given way to a bit of a hangover syndrome, with everyone from buyers and lenders to home builders dusting themselves off and looking forward to 2010 to begin posting gains.

Returning to Normalcy

The real estate market in San Antonio, including the luxury real estate market, seems to be returning to a bit of normalcy, much to the relief of sellers and home builders everywhere.

The signs of recovery really took off in November, when sales jumped 52 percent from a year earlier. In fact, more than 1,500 San Antonio homes were sold in November, compared to just 1,000 in November 2008. This recent spike in sales has left the market on the same playing field as before the market began to peak.

Reasonably Priced Homes are a Hot Commodity

Although the luxury real estate market in San Antonio hasn’t fully recovered, mainly because many buyers still can’t secure jumbo loans through lenders, the market for reasonably priced homes – especially those under $250,000 – is fairing quite well. In fact, the numbers reflect quite a normal market for San Antonio.

The roller coaster ride of the peak market in 2005 and 2006, as well as the subsequent crash in 2008, appears to have subsided and a steady stream of activity has taken its place.

Consumer confidence is beginning to return and, along with it, real estate transactions are rising.

Luxury Real Estate still has its Challenges

Luxury real estate in San Antonio, although improving alongside more reasonably priced real estate, has its share of challenges, including the fact that homes in this price point remain on the market much longer than lower priced homes.

With interest rates still very attractive, and the with the extension of the Homebuyer Tax Credit, analysts feel very confident that sales throughout the San Antonio real estate market will remain strong throughout 2010.

San Antonio commercial real estate is still struggling, make no doubt about it. The number of San Antonio commercial properties that fell into foreclosure in 2009 is a clear indication that this sector of the real estate market in San Antonio has a long way to go.

Commercial foreclosures for San Antonio commercial real estate rose nearly 55 percent during 2009; in other words, there were 863 commercial property foreclosures in San Antonio in 2009, compared with 557 in 2008.

Throughout all of the trouble that the San Antonio commercial real estate market is experiencing – and is likely to experience in the months ahead – economists note that the trends of the past year can’t even hold a candle to the real estate collapse of the 1980s.

Commercial Foreclosures Peak for Older Buildings

Case in point: many of the commercial foreclosures in San Antonio in 2009 were from smaller, older buildings in less desirable parts of the city. However, larger, nice properties have also not been spared the brunt of the foreclosure crisis.

Construction in San Antonio has slowed, and vacancies have risen. The hardest hit sector of the commercial real estate market was industrial buildings. There were 47 industrial building foreclosures in San Antonio in 2009.

Apartment building foreclosures also experienced a huge jump, with 87 foreclosures posted in 2009, compared to 33 in 2008.

Retail foreclosures were up, as well, from 51 in 2008 to 66 in 2009.

The surprising factor in the commercial sector, however, was that office building foreclosures dropped eight percent from 2008 to 2009.

A Bright Spot

Because the commercial real estate market in San Antonio is linked to the residential real estate market, and usually follows the trends of the residential real estate market, many analysts turn to the residential real estate market to gauge the future of the commercial real estate market.

Luckily, after nearly three years of double-digit drops in the residential market, home builders are starting to build once again because demand is on the rise.

The residential real estate market clearly hit bottom in 2009, and is now on the way to a rebound. This is good news for home builders; and perhaps even better news for commercial real estate builders and investors.

Condo living is simply spectacular in downtown San Antonio. While condo markets across the city are struggling to post gains, the condos of downtown San Antonio continue to be in high demand, thereby buoying this market along quite nicely, even given the state of the national economy and housing market.

Case in Point: the historic Peden Iron & Steel Building has been transformed into highly sought after downtown lofts: the Steel House Lofts. This newest downtown San Antonio address is slated for completion in winter 2010.

Beautiful Warehouse Conversion

The original charm is alive and well in the Steel House Lofts, as the transformation from warehouse space to trendy, downtown San Antonio lofts is flawless.  The contemporary attitude and vibrant flair of the Steel House Lofts just confirms the vision of downtown San Antonio condos as being the ultimate in luxury and modern cool.

Outstanding Loft Features

Some of the warehouse design concepts of the Steel House Lots include open-plan living spaces, towering, clerestory windows, exposed concrete beams and architecturally interesting columns. Soft, interior colors and beautiful finishes pair nicely with the striking architecture, thereby creating subtle, eye-pleasing interior living and working spaces.

All of the flats and lofts of Steel House Lofts are nicely equipped with contemporary kitchens and bathrooms, and are all wired for the best technology and entertainment systems.

Unsurpassed Building Amenities

The building amenities of the Steel House Lofts are conducive to the luxury level of living that downtown residents have come to expect. Building amenities include: a beautiful courtyard entrance; private yards with covered docks; controlled access parking; and an expansive, outdoor entertainment area, complete with a lap pool.

There is certainly no living like downtown San Antonio living, and certainly no better way to live in San Antonio than in a fabulous condo home. Steel House Lofts fit the bill nicely, for nearly anyone from single, career-minded professionals to empty nesters looking for excitement and luxury in downtown San Antonio.

There are few condos in San Antonio that are impressive as the Alteza.

Sitting high atop the Grand Hyatt hotel in downtown San Antonio, Alteza is a fine example of the luxurious, high-end living that is available in downtown San Antonio.

The First Residents are Welcomed

Although the Alteza has seen its share of delays – mainly because construction crews had to concentrate on the hotel construction before the Final Four in 2008 – it has now opened its doors to its first residents. The completion of the Alteza project is a huge boom for downtown San Antonio’s evolution and for the entire city in general.

For the residents of Alteza, it certainly can be said that “good things come to those who wait.”

Once completed, the Alteza will feature 147 condo homes; 19 of which will be open in a matter of days. The rest of the condos, spread out over 10 floors, are expected to be finished by spring 2010. To date, 31 condos are under contract, and activity is beginning to really pick up.

The Alteza condo development experienced challenges because of the tumbling economy and, as a result, the sales team is working to recover the many expired contracts.

The Alteza’s Unique Features

The Alteza boasts a unique hotel/condo feature that no other development does in San Antonio. Combine that with Alteza’s exclusive residences and outstanding amenities, and it’s easy to see why the Alteza development stands out from its competition.

Prices range from $298,000 to over $3 million for homes in Alteza, and most of them boast exceptional views and even more exceptional surroundings.

The sales team of Alteza feels strongly that the tough lending standards felt by many parts of the housing market probably won’t affect the sales of the condo homes of Alteza because many luxury buyers are not affected by tough lending practices.

In addition, the condo market in San Antonio is much stronger than other parts of the country, and many individuals are seeking out condos in San Antonio for second homes. In other words, the demand for San Antonio condos remains strong and resilient, despite the challenges felt by much of the housing market.

Some of the amenities and services of Alteza include:

• Controlled-access, reserved parking
• Private lobby and entrance
• Open-air swimming pool on the 32^nd floor
• Exclusive membership privileges to the Grand Hyatt fitness center
• Soaring ceilings
• Granite countertops
• Bosch and Sub-Zero appliances
• Wide-plank hardwood flooring

After the dismal 2009 we are all looking to move on and look ahead to new real estate opportunities in 2010.

So, the question is: what are your real estate resolutions? A recent study conducted by Move.com found that there are a lot of resolutions to be found across America:

• Nearly 18 percent of individuals who answered the Move.com survey said they hope to become first-time homeowners in 2010. If you are among that 18 percent, consider this: rates continue to be near historic lows; there is a nice supply of Champion’s Ridge homes on the market; and the first-time homebuyer tax credit has been extended into April 2010. It seems that all of the pieces of the real estate puzzle are coming together for many soon-to-be first-time homebuyers.
• About 15 percent of the people surveyed by Move.com say that one of their top real estate resolutions is to work towards saving for their first home. The start of the New Year may be the ideal time to re-evaluate your budget and your financial goals and to work toward saving more each month. Make a budget, stick to it and watch your savings grow.
• Nearly 40 percent of those surveyed say that home improvements top their list of things to do. With low interest rates on home equity loans, now may be the time to tackle those much-needed renovations on your piece of Champion’s Ridge real estate. Best of all, the interest paid out on your home equity loan can be deducted on your federal taxes.
• About nine percent of the individuals in the Move.com survey reported that their real estate resolution for 2010 is to work on improving their credit score. Take the initiative and order a copy of your credit report from all three credit reporting agencies (you can order a free copy once a year from all three credit agencies). Take the time to review your credit report and to become current on all your debts. If you notice any discrepancies or errors on your report, immediately contact the credit reporting agency and submit a claim. Don’t waste time getting these matters resolved, as they can often greatly affect your credit score.

You remember the San Antonio homes with the soaring, beamed ceilings, the cascading waterfalls, the kitchen with more granite than a quarry, and the bathrooms the size of a small home?

Hopefully you have a fond memory of these San Antonio luxury homes, because chances are, you won’t see too many of them on a builder’s list of projects. In fact, many of the high-end custom home projects that were once a mainstay in the San Antonio market are now being traded for more affordable homes.

Instead of the multi-million dollar homes, think half-million dollar homes. Sure, they’re still nothing to scoff at, but place them beside the homes of just a few years ago and you’ll soon see a new trend developing.

The Newest Cash Cow: The Moderately Priced Home

With too many multi-million dollar homes sitting on the market, builders have begun looking elsewhere. In short, they have to look for a new cash cow, and it doesn’t look like it’s going to be found anywhere in the luxury home market.

Because of the challenges of 2009, most builders are looking for a bridge to buoy their business along for the time being and it looks as if smaller homes are the way to go.

Why the Luxury Market Struggled in 2009

There may be many reasons San Antonio buyers are looking to downsize: the difficulties with the stock market collapse; the struggling credit sector where jumbo loans are hard to come by; and the mere fact that many buyers have discovered that the cost of maintaining a multi-million dollar home simply isn’t worth the financial strain.

As a result, many builders have now begun focusing their efforts on the $200,000 to $500,000 market. And, given the fact that many luxury homes can cost a builder between $4,000 and $6,000 a month in holding costs, it just doesn’t make financial sense for builders to build homes that will sit on the market for months.

Although the worst has passed for the San Antonio luxury real estate market, it appears as if the general consensus of building more moderately priced homes will be a mainstay in the San Antonio real estate market throughout 2010 and beyond.

Our real estate team is growing by leaps and bounds, and we are currently on the hunt for only the most highly motivated individuals to join our team!

Are you currently in the real estate field and you are experiencing frustration over the inflexibility and the unfair commission plans that are being offered to you?

If so, then you owe it to yourself to see why VIP Realty is far different than other real estate companies. We have a proven track record of success, and our agents are some of the top earners in the field. If you desperately want to control your own destiny and custom-fit your real estate business then VIP Realty is the company for you!

• Our innovative commission plans allow our realtors to decide how much – or how little – assistance they need from us. From there on, they can customize a plan to suit their needs and wants. It’s as simple as that! Simply put, you are in charge when it comes to your commission plan.
• Start networking and revenue sharing and change your career now! VIP Realty allows you to begin building a residual stream of income by sponsoring new agents. You can begin to enjoy the multi-tiered web of growth that has made so many VIP Realty agents successful.
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Stone Oak has a timeless quality that is just simply unmatched by any other community in San Antonio.

Excellent Location, None of the Stress

Stone Oak is located just minutes from downtown San Antonio, but you’d never know if the moment you walk along the cobblestone walkways and around the lush landscaping of this beautifully designed master-planned community. One thing’s for sure: small-town living is alive and well in Stone Oak.

Although Stone Oak is just one of the master-planned communities north of downtown San Antonio, it certainly stands out as being one of the most highly desired communities. Other communities with the same flavor as Stone Oak include: the Vineyards, Sonterra, Canyon Springs, Champion’s Ridge and Roger’s Ranch.

Outdoor Recreational Amenities Abound

Stone Oak has many recreational amenities, such as tennis courts, parks, trails and golf courses, all of which surround the beautiful, rolling hills or the Texas Hill Country. The natural beauty of the surrounding parks and green spaces enable residents to feel as if they are in the middle of a suburban oasis, miles and miles from the pressures of the city.

A Healthy Business Climate in the Forefront

Stone Oak is also home to several businesses, including Washington Mutual Inc. The abundant office space and healthy business climate make Stone Oak a popular destination for many of San Antonio’s professionals.

Affluent, Multi-Cultural Lifestyle

The affluent, multi-cultural lifestyle of Stone Oak offers San Antonio residents a respite from the hustle and bustle of the city and an array of beautiful, often historic, homes that possess a timeless quality and equally lovely surroundings. Stone Oak, in addition to being home to a wide variety of San Antonio professionals, is also home to a number of Mexican-Americans, many of whom seek this small-town for a second home.

A short view of Stone Oak homes for sale reveals a nice variety of reasonably priced homes, ranging from $170,000 to $250,000. Most of the Stone Oak homes for sale feature three to four bedrooms, two to three bathrooms and large living spaces.

Hill Country living has never looked so fine. One of the newest communities of the super-exclusive Dominion community, The Reserve at the Dominion is a haven for some of the most beautiful, single-family homes in San Antonio.

Prime Location

An ideal location is perhaps one of the first things that draws San Antonio residents to consider The Reserve at the Dominion: this upscale community is located just minutes from Interstate 10 and Loop 1604, while downtown San Antonio and the San Antonio International Airport are both less than 30 minutes away.

From a variety of shopping and dining venues, to a myriad of corporate centers and cultural destinations, The Reserve at the Dominion is ideally located in the center of it all. Some of the best shopping in San Antonio can be found near the Dominion, including the upscale shopping center of the Shops at La Cantera, Nordstrom, Neiman Marcus and Tiffany & Co., just to name a few!

There are several state and local parks located just minutes from The Reserve at the Dominion, including OP Schnabel and McAllister Parks. From hiking and biking to playing and picnicking, these parks provide a variety of wonderful, outdoor recreational activities.

Surrounding Luxury

Luxury homes are nothing new to the Dominion, and The Reserve at the Dominion is no exception. This gated community features some of the most prestigious homes in San Antonio. The residents of The Reserve at the Dominion have full privileges to the Dominion Country Club, a 260-acre, 18-hole, world-class championship golf course. There are also a number of other private and semi-private golf courses located nearby, including the Westin La Cantera Resort and the Palmer Course.

Home Features

Home package prices for The Reserve at the Dominion range from the $400,000s to the $700,000s. The homes of this community feature either four or five bedrooms and three to five bathrooms.

Some of the features of the homes of The Reserve at the Dominion include: two-story foyers, formal living and dining rooms, first-floor studies, gourmet kitchens with center islands, spacious pantries and breakfast areas, two-story family rooms, master bedrooms suites with cathedral ceilings, and master bathrooms with dual vanities and glass-enclosed showers.