The downtown San Antonio real estate market continues to be the shining star in San Antonio. In fact, it is now becoming a hot spot for second homes.

Many local real estate agents have discovered that there has been a great deal of activity in the downtown market for individuals searching for a second home. In particular, the reasonably priced condos found here – those priced around $200,000 – are becoming a hot commodity.

San Antonio is a popular destination for very wealthy Mexican nationals, many of whom seek second homes. Many of these Mexican buyers are searching for new condominium homes, gated communities and country club neighborhoods throughout San Antonio, but the downtown market seems to be particularly appealing to their needs.

A Break from the Cold Weather

Other individuals from colder parts of the United States have chosen San Antonio for their cold-weather getaway. With San Antonio’s mild, year-round temperatures, many homeowners flock here for a break from the winter weather.

Although there are a few neighborhoods that have experienced the surge in second home sales, such as the Dominion and San Antonio’s northern suburbs, the downtown area, without a doubt, is the place to be.

The Draw of Downtown San Antonio

The magnificent surroundings are perhaps the biggest draw to the downtown San Antonio real estate market. From the top-rated hotels and trendy restaurants to the exciting nightspots and the picturesque River Walk, the downtown area is filled with excitement, energy and even beauty.

San Antonio, as the nation’s seventh-largest city, offers plenty of perks, as well, including a small-town atmosphere, low real estate taxes and plenty of business opportunities.

The historic feel of San Antonio is also a big draw for many homeowners, as many of the newer condo buildings are in fact restored buildings with beautiful, historic facades.

An Excellent Variety of Real Estate

Although San Antonio in general has begun to see a steady increase in its home sales, the downtown area is particularly appealing because homes of nearly every price point are moving. From reasonably priced loft condos of $200,000 to spectacular, multi-million dollar penthouse condos with sweeping views and magnificent amenities, downtown San Antonio homes are being snatched up by buyers looking to experience the trendy downtown lifestyle.

Many of the luxury communities in San Antonio, like the Dominion, have seen a very competitive real estate market. As more and more homes go up for sale, luxury homeowners in the Dominion are discovering that selling a luxury home may prove to be quite challenging.

It is with this in mind that many sellers are concentrating on their outdoor spaces to wow buyers. The best luxury homes often have an outstanding, outdoor area for both relaxation and entertainment, so it is up to you, as a seller, to impress your buyers the moment they walk into your backyard oasis.

Exciting, Outdoor Trends

• Separate Living Areas – If you have a large, outdoor space, consider creating different living areas to better put the space to use. A grilling area, a dining area, an entertainment area and, of course, a relaxing area, complete with outdoor beds, is an ideal way to separate your outdoor living space.
• High-End Materials – Outdoor spaces in luxury homes, because they serve as an extension of the upscale interior spaces, must be just as fabulous. You can achieve this by using top-grade materials and natural stones to accomplish this. From native stones to granite countertops, an outdoor space with natural, high-end materials will allow your buyers to envision a calm, natural environment.
• Lush Landscaping – A beautifully landscaped outdoor space will allow your outdoor space to blend seamlessly with the natural surroundings. Landscaping can also serve to create your outdoor spaces.
• Outdoor Spas – There is, perhaps, no better way to finish off your luxury backyard setting than with a luxury, outdoor spa; perhaps tucked behind a private a garden or lanai.
• Outdoor Theaters – Outdoor sound systems and outdoor plasma televisions are the newest way in which luxury homeowners are blurring the line between indoor and outdoor spaces, and are a fantastic addition to any outdoor party or get-together.

Real estate construction projects have slowed down quite a bit, and there’s a perfectly good reason why; builders and developers are simply trying to fill up the space that they have already built.

Which means that office and retail space in San Antonio is both abundant and reasonable.

For leasers, this may be a prime opportunity to snag a great office space lease, and for developers, it may be a time to get businesses into their spaces.

Although the San Antonio commercial real estate market is strong, particularly when compared to other areas of the country, many developers are nonetheless looking forward to getting construction up and running once again; and to do that, they must first lease the vacant space they already possess.

Building Remains Stagnant, Leases in the Limelight

Currently, many office space developers are negotiating new leases with their clients instead of looking for more construction opportunities. And, considering that San Antonio continues to thrive in terms of new residents – 26,000 new residents moved into San Antonio from July 2007 to July 2008 alone – developers and builders of both retail and office space can look forward to continued activity.

The San Antonio commercial real estate market, according to most industry analysts, will remain rather flat during the second half of 2009, although 2010 is expected to bring a new influx of commercial activity.

Builders and developers, in the meantime, will play it safe by attracting new tenants into their commercial spaces.  Office vacancies reached 19.1 percent in the first quarter of 2009, while retail vacancies hovered around 13.8 percent during that same period.

Because of San Antonio’s influx of commercial space, many business owners looking to lease space in San Antonio may be even more encouraged to make the move.

Buying and selling commercial property is still at a stand-still, and will likely remain that way for the remainder of 2009, but for those interested in leasing commercial space, now may be the time to make a move.

For those homeowners looking to downsize into a downtown San Antonio condo, now may be the time. The home buyer tax credit was recently extended into May 2010 (the closing must occur before July 2010), so new homebuyers, as well as those homebuyers who have lived in their current residence for at least five years, can take advantage of the government stimulus offer.

Long-Time Homeowners get in on the Action

The homebuyer tax credit, which was originally only targeted at new homeowners or those who hadn’t owned a home for the previous three years, now includes “long-time homeowners,” or those who have lived in their home for at least five years.

In other words, all those retirees looking to move out of their longtime home and instead settle into a downtown San Antonio condo can make out on this tax credit extension. The $8,000 tax credit still stands for new homebuyers, but another $6,500 tax credit is available for long-time homeowners.

Retirees Expected to Benefit from new Tax Credit

This is good news for retirees, and even better news for the real estate condo market of downtown San Antonio. And, luckily, most long-time homeowners have good credit, which means that they will likely be approved for a new mortgage.

There are certain limitations to the tax credit, however; homes over $800,000 do not qualify.

Benefits of the New Law

The income levels have been extended for the new tax credit, though; homebuyers can now make up to $125,000 and still remain eligible for the full tax credit (it was $75,000 under the old law). Couples applying together can make up to $225,000 jointly (it was $150,000 under the old law).

In addition, there is no stipulation in the law that states that the new home must be more expensive than the last, which is good news for retirees or for individuals simply looking to downsize.

Other individuals that will certainly benefit from the new law include military personnel, as any military personnel serving outside of the country for at least 90 days in 2009 or 2010 will be granted an extension of one year to claim the credit.

There are a number of reasons to love Terrell Hills: it excellent location near San Antonio; its top-rated schools; and, of course, it’s beautiful homes.

Large lots are commonplace in Terrell Hills, thereby providing an added degree of privacy to the residents of this San Antonio suburb. Terrell Hills is served by both the Alamo Heights Independent School District and the North East Independent School District.

Must of the homes of Terrell Heights have either been extensively remodeled or torn down in place of more expansive homes. The homes in this area are rich in architectural detail and character, both of which are highly desired by home buyers in San Antonio.

The homes of Terrell Hills are generally a lovely mix of mid-twentieth century architecture, from ranches and mid-century modern to hill country and art modern. Most of the homes in Terrell Hills are surrounded by mature trees, and many homes vary greatly in both architectural style and price.

Ranch Homes

Ranch homes, for example, which are an iconic symbol of the 1950s, are found throughout Terrell Hills, as well as throughout San Antonio. Most of these ranch homes are built low to the ground, and feature horizontal bands of windows.

Midcentury Modern

Midcentury modern homes eventually overtook the ranch homes of the 1950s, and are a bit more stylized as a result. Architects of the time strove to “engage the surrounding landscape” when designing midcentury modern homes in Terrell Hills. It is therefore quite common to see walls of glass in these types of homes.

The midcentury modern homes of Terrell Hills generally feature the same design on both the front and back of the homes, yet a wide variety of materials were often used to create a home’s exterior. Most homes feature a linear composition with a long profile that’s low to the ground. Other features of midcentury modern homes include low-pitched roofs and large, steel-framed sliding doors.

Hill Country

Hill Country homes were first introduced to the area in the mid 1940s. These homes were based on German ranches and farmhouses, and many feature the local limestone on the exterior. Many of the homes in the Hill Country design feature high ceilings and exposed beams.

Art Modern

Art modern style homes are not as prominent in Terrell Hills as are midcentury modern, but they can be easily identified with their rounded corners, casement windows and smooth plaster.

An entire corner of a home may be curved in an art modern home, for example. The art modern style was most popular in the area in the 1930s and 1940s.

If you are moving on and you don’t want to spend a fortune on professional packers and movers then it pays to learn a little about packing before you embark upon such a large task.

Packing takes a bit more finesse than just throwing things into a box and taping it up; if you want to your possessions to remain safe and undamaged, and if you want to remain neat and organized, then it pays to learn how to pack like a professional:

• The moment you realize you are moving, begin packing. This may seem a bit premature, but you will be glad you got a head-start. Begin by packing off-season items, such as holiday décor. You can also begin packing fragile, rarely used items, such as china and stemware. Gather newspapers and bubble wrap and take care to pack each fragile item separately. Most importantly, do not over-pack the box. Finally, mark it clearly before heading onto the next box.
• Start a color-coded system for the rooms in your home. Purchase colored stickers from your local office supply store and assign each room in your home with a certain color. You can then use the stickers to mark the boxes as you pack them. Unpacking is often much easier when you can simply scan the room for a particular sticker color.
• This is a great time to hold a garage sale and to donate items to a local charity. As you move throughout your Alamo Heights home, begin making a pile of items that you no longer want or need. Then, further separate the items into those you want to sell and those you want to donate.
• Keep all important documents close at hand so that they don’t become packed away when you need them most.
• Ask a family member or close friend to store valuable items for you until after your move, if possible, as to avoid losing or breaking them in the move.
• Contact a moving company or reserve a moving company as soon as you learn of your moving date. It is always best to plan ahead when it comes to reserving your moving arrangements!

Alamo Heights has always been known as an old-fashioned city with a family-oriented, small-town atmosphere. Residents of Alamo Heights have always reveled in the quiet surroundings, the cozy homes and the open land. The easy commute in and out of the city has always been a bright spot for residents, as well, as they are able to enjoy both small-town living and the opportunities and excitement of a large city.

Alamo Heights has always boasted a strong real estate market in San Antonio. The homes in this area are revered for their location along quiet, tree-lined streets, as well as for their blend of architecture, including Mediterranean, contemporary and Spanish.

In addition, along any given street in Alamo Heights you may see gorgeous, historic homes which have been lovingly restored and renovated, as well as newer homes and condominiums. The blend of old and new homes has attracted many residents of San Antonio to Alamo Heights.

Changes Underway

Perhaps the biggest changes taking place in Alamo Heights are the demolition of older homes to make way for rather grand estates. Large, private communities are gobbling up the modest ranch homes of Alamo Height’s past. While residents are flocking to Alamo Heights for these luxury estates, there are more than a few residents who are unhappy to see the smaller homes that were once a common site in this small town giving way to upscale homes pricing out at more than $1 million.

Perhaps, however, this change is inevitable. Alamo Heights, because it is a highly desirable suburb of San Antonio, has seen a steady increase in property values. In fact, it is not uncommon to see properties in Alamo Heights selling for 20 percent more than their counterparts in neighboring communities.

Because the area of Alamo Heights is quite small – about 200 square acres – new developments can not take place unless older structures are razed. It is because of this that, at any given, city meeting, there are several requests for demolition projects in Alamo Heights.

There is one thing for certain: luxury real estate has begun inundating Alamo Heights, and it looks like it is here to stay.

Homeownership, despite all of the doom and gloom felt across the country, is still a very smart financial move for most individuals. The Bexar County real estate market, of course, has received poor evaluation over the last year because of the subprime mortgages and the record number of foreclosures which, unfortunately, has left many would-be homebuyers feeling more than a bit nervous to purchase their first home.

However, there are many reasons to purchase a home in Bexar County now, including low interest rates, dropping home prices and the government’s first-time homebuyer tax credit.

If you are ready to take the plunge into homeownership, there are a few things that you can do to prepare for your homeownership adventure:

• Talk to a lender first to learn about your eligibility for a home loan and to learn about how much home you can afford. A good rule of thumb is to pay no more than 25 percent of your gross, monthly income on a mortgage payment.
• Check your finances to make sure that you have enough money saved for your down payment. Don’t forget all of the related fees, including closing costs, mortgage insurance and homeowners insurance.
• Order a copy of your credit report from all, three credit agencies and clean up any past debts. Remember: your ability to obtain a competitive interest rate in today’s market relies heavily on your credit.
• Get preapproved for a home loan through a lender. Do your homework beforehand and choose a lender that is able to provide you with a home loan that best meets your financial needs.
• Decide what you must have and what you would like to have in a Bexar County home. Make sure to distinguish between the two so that your expectations are not unrealistic, but that you also choose a home that meets your family’s needs.
• Research neighborhoods to determine which ones are best for you and your family. Your decision regarding a neighborhood may depend on the local schools, nearby shopping and dining or commute times to and from your job.
• Find a qualified, experienced real estate agent who can help and guide you through the home buying process. Make sure the agent you choose has a good deal of experience in the neighborhoods in which you are interested, and make sure you have a good rapport with the agent, as you will be working with him or her throughout the entire process.

Northwest San Antonio has begun showing signs of stability, and Wereldhave, a Netherlands-based development firm, is one of the first to notice – and to take action.

This development firm has plans to bring a high-end, mixed-use community to San Antonio, and the first part of the project is expected to debut as early as this fall.

Two Class-A Office Buildings on the Horizon

The master-planned community envisioned by Wereldhave will have two, Class A office buildings, thereby boosting the sagging office market here in San Antonio. The office buildings will be a part of their master-planned project entitled “eilan.”

The mixed-use community will measure a whopping 220,000 square feet and will cover about 118 acres, once completed.

The first of the two office buildings is due to be completed this September, with the second one expected to open just one month later.

Wereldhave recently hosted a “topping out” ceremony for the two, newest office buildings, which is essentially a tradition that marks the completion of a structure’s framework.

Looking Ahead

Giving the local office market economy a boost, leasing has begun already for both of the office buildings.

Eilan will be located along the northeast quadrant of Loop 1604 and La Cantera Boulevard, which is just a short distance away from Interstate Highway 10.

Once completed, the development will include nearly 1.8 million square feet of space, including office, retail and residential development. The project is expected to top $300 million.

Confidence Remains

Brian Harris, senior vice president of Wereldhave, notes that the project is completely funded through the company. He states that they have confidence that the office market in San Antonio is on a path to recovery, and the office market is still in relatively good shape, all things considered.

Many real estate experts note that, although the vacancy rate for office space in San Antonio is up quite a bit, Class A office buildings in the local market are relatively scarce, denoting a need for this type of space in the market.

The Texas Hill Country is home to one of the most successful, master-planned communities in Texas, if not the country. This exclusive, private community is home to several enclaves, all of which feature only the finest living and only the best services and amenities.

It only makes sense then that retirement living in the Dominion be just as superb. And, true to its name, the Dominion offers retirees upscale living in its retirement enclave, Independence Village.

This private retirement community reminds one of a quaint, Italian countryside, where fine, Mediterranean homes and outstanding architecture, highlighted by exquisite landscaping, can be found at every turn.

Excellent Quality of Life

Often referred to as a retreat from daily living, Independence Village affords residents the ability to enjoy an excellent quality of life without all of the rigors of home maintenance. Instead, play a round of golf, relax in the clubhouse or head to the state-of-the-art fitness center for an early-morning workout. Whatever your plans may be, they can be realized at Independence Village.

Prime Location

The location of Independence Village is also exceptional, as it is only minutes from a great array of shopping, dining and entertainment. However, once inside the gates, Independence Village feels like it’s worlds away from all of life’s hustle and bustle.

Superb Living

Independence Village consists of 69 acres of beautiful green space and spacious, single-family homes. Just 190 homes make up Independence Village, most of which range in size from 1,700 to 2,800 square feet. Sundial Development is the developer of Independence Village and the managing partner is Dominion Village Ltd. Dial Communities Inc. operates the community.

Independence Village, which caters only to adults age 55 and older, was developed as an upscale, lifestyle retirement community. Independence Village is a sister community of Independence Village at Stone Oak.

Independence Village is a membership community in which members pay an entrance fee for their homes, and then continue paying a monthly membership fee.