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The Success of Vidorra’s Partnership with Wells Fargo Home Mortgage

Posted by VIP Realty on Tuesday, May 25th, 2010 at 9:58am.

The beautiful new condo community of Vidorra has enjoyed great success, even amidst the fumbling economy and housing slump. Although one cannot dispute the many perks of living in this beautiful high-rise building, the developers of Vidorra also credit the success of the development to the partnership with Wells Fargo Home Mortgage. Wells Fargo Home Mortgage obtained approval for the joint venture just prior to Vidorra’s completion last year, thereby allowing buyers to receive competitive market rates, backed by one of the country’s largest banks.

Because condo buyers generally have a harder time obtaining financing for condominiums, this partnership with Wells Fargo home mortgage allowed many of the condo’s buyers to receive financing at very competitive rates. In addition, the completion of the Vidorra project just happened to coincide with all of the problems in the real estate industry. Other condo projects at the time experienced a huge decline in their numbers because of this; however, Vidorra, with the backing of a very strong banking institution, allowed the developers to close homes with market rate loans. In fact, with Wells Fargo Home Mortgage’s help, the Vidorra developers were able to close on many homes as soon as they received the certificate of occupancy. As a result, more than 70 percent of the homes of Vidorra are occupied.

The Vidorra Lifestyle

Vidorra is a 20-story, $60 million high-rise near San Antonio’s Sunset Station. This development includes 146 condos and six townhomes, all of which enjoy a number of excellent amenities and features. Homes of Vidorra range from 1,000 to 3,866 square feet and there are about 15 floor plans from which to choose. Just some of the amenities afforded to the residents of Vidorra include: 24-hour concierge; a resort-style swimming pool and spa; a state-of-the-art fitness center; a well-equipped business center; a secured parking garage; and guest suites. Vidorra has become a popular condominium building for many San Antonio residents, including empty nesters and military personnel. Homes of Vidorra start at about $255,000. There area also two penthouses in the building.

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