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.
• Start off your career right with VIP Realty’s dynamic marketing services. Our large Internet presence will allow you to drive your business through excellent lead generation so that you y experience only the highest revenues.
• Stop waving your hard-earned commissions good-bye and instead keep them! Our unique system allows us to cut down on costs and allow you to maintain more of your commission. Instead of branding our image, we use the money to market our agents. So, instead of watching your commission return back to the real estate company for their gains, keep your commission and watch your revenues soar!

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.

The San Antonio commercial real estate market isn’t all bad news: it’s just that banks are still being stingy when it comes to commercial loans.

In fact, most of the lending in San Antonio’s commercial sector is coming from the refinancing of existing debt; not for the construction of new projects.

So, how do we break out of the cycle that left the commercial real estate market in San Antonio at a veritable stand still in 2009?

How to Break the Cycle

First of all, the lenders must begin to ease off the tough restrictions, thereby enabling builders and developers to obtain financing. Lenders must also be willing to put up a larger percentage and demand more realistic returns.

Members of the 2009 Community Development Summit, which was recently hosted by the city of San Antonio and the San Antonio chapter of the Urban Land Institute at the Convention Center, also agreed that these topics were huge roadblocks for San Antonio commercial real estate development.

San Antonio still comes out Ahead

Perhaps one of the positive aspects about San Antonio is that this dynamic city was spared much of the fallout from the nationwide credit crisis and housing market collapse. From positive job growth to steady rents, the commercial real estate market in San Antonio enjoys a more robust economy than other large cities throughout the country.

Today’s tough lending practices have resulted in lenders now rarely willing to put up more than 70 percent of the money needed to finance a commercial project. In contrast, lenders used to be more than willing to front as much as 90 percent for a commercial project in San Antonio.

Waiting for a Rebound

It is important to understand that the commercial real estate industry in San Antonio is poised for a rebound, as the residential real estate market is currently experiencing positive signs of growth and the commercial industry generally lags about 10 to 18 months behind.

Although retailers are finding it difficult to secure financing, this sector of the economy is still seeing deals take place. However, retailers have been getting a bit more creative because of the tight lending sector. It is common, for example, to see retailers building smaller stores and retail developments being built smaller. A good example of a smaller retail development is Quarry Village, which first opened its doors in October 2008.

We hear about the lousy housing market and automatically shy away from purchasing an Alamo Heights home. Then we hear about all the great deals to be had and we rethink our earlier decision. And then, of course, we hear about the difficult credit sector and declining property values and our indecision starts again.

Sound familiar?

If so, you’re one of a growing number of Americans who are outright confused about this housing market and whether you want to jump into homeownership at this time.

There are those financial analysts who will tell you that now is your time to buy, while others will tell you that renting is the best bet at this point in the game.

So who’s right?

Well, both sides have a point, actually. Let’s start with the fact that home prices are lower than they’ve been since 2003; a good indication of a buyer’s market.

For a home buyer looking for a good deal on a great home in the Alamo Heights real estate market, now may be the time to act. For most individuals, owning a home makes more financial sense than renting. A home investment allows you to become financially independent at some point in your life and is nothing short of a great investment.

Owning a home, for many individuals, provides them with a great source of accomplishment. Being able to paint a room, if desired, rebuild a deck or completely remodel your kitchen is all left up to you; no one to answer to and the freedom to make your house a home.

However, for individuals not ready to look long-term, renting may make more sense. Renters do not have to worry about acquiring a large down payment for a home, and maintenance and repair on the property is eliminated. A rental price is straightforward as there are no surprise costs. Owning a home, however, can come with its share of surprises when it comes to maintenance and repairs.

Renters are also afforded more independence regarding where and when they move. Consider all of the homeowners around the country who are currently “trapped” in their homes and cannot move to find employment elsewhere because they can’t sell their home.

In the end, your individual circumstances and your budget will likely dictate whether you rent or own. Individuals who haven’t figured out where they want to be in the next, few years will find renting to be their best option; while individuals who are looking to settle down and make a home, owning is certainly the way to go.

Your preferences and your goals should dictate whether you rent to own an Alamo Heights home. Don’t get caught up in doing what others tell you what to do because each situation is highly personal and very different. What works for one individual may not work for another. So, always remember to make your decision about you, and not about what the people around you want you to do.

Multi-million dollar homes flying off the market would be a good way to sum up the San Antonio real estate market a few years ago. But times certainly have changed.

As the national economic crisis took hold of even the most resilient cities such as San Antonio, buyers were no longer interested in the McMansions that were once all the rage.

Back to Basics

As a result, today’s real estate market in San Antonio is decidedly different. In fact, a good way to now sum up San Antonio’s real estate market is “back to basics.”

The San Antonio real estate market, like most other markets in the United States, struggled amidst the credit sector debacle and the national economic crisis. Now that the market seems to be leveling off – and in many cases improving quite nicely – throughout San Antonio, a clearer picture begins to appear.

As San Antonio continues to see an improvement in its real estate sector, it becomes increasingly clear that the McMansions of yesterday can’t take credit for the rebounding market.

In fact, it is the entry-level homes – those priced below $200,000 – that are proving to be the most resilient in the San Antonio real estate market. This may be due to several factors, including the first-time home buyer tax credit and the general consensus among homeowners that they no longer want or need an over-the-top home.

The entry-level real estate market in San Antonio certainly got a boost from the $8,000 first-time home buyer tax credit. Fieldstone Homes, a builder focused on first-time home buyers, closed nearly 500 homes in 2009, which is about the same number as 2008.

Where Luxury Homes Sales are Heading

In contrast, areas of San Antonio with more expensive homes have seen steep declines in home building. For example, the first three quarters of 2009 saw home building fall nearly 45 percent in New Braunfels and 41 percent in San Antonio’s North Side, when compared to 2008 numbers.

It is important to point out that the entry-level market saw steep declines in 2006-2007 as builders began setting their sights on more expensive homes.

Looking Ahead to 2010

There are currently just 1,400 new homes on the ground now in San Antonio. Builders of many different types of homes will need to increase their inventory as they head into 2010 or they may risk very tight inventory.

It does appear, however, that San Antonio builders will continue to concentrate on their entry-level market when building new homes because, at least for the foreseeable future – the entry-level market is where the action in San Antonio is.