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The Top Five Reasons Why San Antonio Real Estate Market is Looking Up

May 10

Posted by admin in Real Estate

For everyone still reeling from the tough San Antonio real estate market in 2010, it’s now time to get up, dust yourself off, and look forward to a more promising 2010. Don’t expect the market to surge ahead quickly, though, as regrouping from the last year’s national recession is going to take time. However, many real estate professionals are quite optimistic that 2010 will be a better year for anyone involved in the San Antonio real estate industry.

The San Antonio Board of Realtors, in fact, has projected not only an increase in the number of home sales, but also price appreciation for San Antonio real estate. In other words, for everyone who has managed to survive last year’s hit, it’s going to be a much better year ahead.

There are some sticking points in the San Antonio real estate market, make no doubt. For example, home builders are still finding it difficult to get financing to complete projects. And on the other side of the loan process, many would-be homeowners are still being turned down by banks for home loans. Short sales and foreclosures have no doubt had a negative impact on the lending industry over the past year, so it only makes sense that lending will continue to remain fairly tight during the upcoming year.

However, the San Antonio real estate market for homes priced under $200,000 are sure to experience the biggest jump, both in sales and real estate appreciation. There is currently a 5.9-month supply of homes priced under $200,000 on the market; a six-month inventory is generally considered to a balanced market.

Combine that with low interest rates and the extension of the federal homebuyer tax credit, and there appears to be plenty of interested buyers entering the real estate market in 2010.
Homes priced over $1 million are still struggling, though, and will likely to continue to struggle throughout the upcoming year. In fact, this market is now inundated with a 61 month inventory of homes.

Many analysts see the upswing in the San Antonio real estate market to continue, as demand for homes usually coincides with consumer confidence, which has continued to improve over the last few months.

San Antonio is also expected to see an increase in its real estate market because job losses continue to decline. As San Antonio starts creating new jobs in the upcoming year, San Antonio real estate demand will certainly follow suit. San Antonio recently announced the addition of thousands of new jobs in the military and private sector, which means that there will be an influx of workers looking for homes.

A recent study conducted by Metrostudy found that builders in San Antonio are expected to build about 8,000 homes this year, a nearly 12 percent increase from 2008. The sales incentives and discounts being offered by builders are sure to spur the growth of new homes sales throughout San Antonio, and are sure to help rebuild San Antonio’s bruised housing market.

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Are Ready You To Buy Condominiums in San Antonio?

Apr 7

Posted by admin in Finance, Real Estate

Gorgeous amenities on the most strategic location of your convenience and a world class architectural design can all be found at condominiums in San Antonio. And the good news is there are many options to choose from with good financial packages. Rest assured, you’ll love it there and it is for sure your investment will be a rewarding one. Each condominium unit is fitted to a special kind of buyer in terms of shape, design and size. Below are the descriptions of condominiums with their respective financial outlay for anyone who is interested.

Additional features are always out for grabs at Alteza condominiums which are not presented in other condominiums. Located above the Grand Hyatt Hotel, unit owners can be assured of being given all the additional services that are offered from the hotel. They can also avail of facilities which consist of an elite membership at the Grand Hyatt gym center, hotel room service, and catering and maid service. High elegance is one word to describe Alteza condominiums. With their private balconies, terraces, 10-foot ceilings, hardwood flooring and likely stone counter tops, you will feel grandeur envelope you. Visualize selecting from 19 floor plans or 6 penthouse plans for your condominium in the blue. And with San Antonio as the setting, the view you will get is incomparable. You won’t look for anything else.

Choose among the of 17 units in the Travis Park Lofts, which is composed of stainless steel appliances, open floor plans, uncovered ceilings and granite counter tops. Many families with children are happy to know they will be live in the San Antonio Independent School District. La Cascada is on the Riverwalk in downtown San Antonio, there located the 12-story condominium unit with 46 residences. With spacious floor plans, private balconies and well-expressed custom touches, it’s recognized as a grandeur residence. It has 46 condominiums to choose from fully packed with rooftop swimming pool, a fitness center, a health spa and a business hub. Being located near business center will be advantageous because you will have access to the facilities, as well as computers, Internet access, fax machine and printers without going to the office. After arriving from work, the fitness center and spa are pleasant to have a relaxation. Definitely, condominiums in San Antonio are feasible ventures that you should not be messing.

If the new condos in San Antonio appeals to you, then, you should checkout the luxury condos by Pinnacle at Oak Hills. Positioned next to the Oak Hills Golf Course and the South Texas Medical Center, these gorgeous condominiums are situated in equally gorgeous surroundings. The exterior appearance may perhaps not be as inspiring compared to other buildings however inside, the view is extraordinary. It has a clean, exquisite pool area and a vast clubhouse that will blow you off your seat. A 116 private condominiums with excellent living amenities located in an urban community, are feature that make these highly secured sanctuaries. It has good security which afford s home owners a more relaxed mind.

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How the San Antonio Condo Market is Changing to Reflect Today’s Economic

Mar 13

Posted by admin in Finance, Real Estate

The downturn in the national housing market is the first hurdle to jump. Add to that the fact that many lenders just aren’t willing to provide financing for condos, and it becomes increasingly clear that the San Antonio is in for a bumpy ride.

One of the most obvious changes to San Antonio condos is that many builders and developers are changing their properties into rentals. Many of the new condominium projects have turned to apartment rentals, while others are simply crossing their fingers and hoping the condo market will soon improve.

San Antonio condo developers that have chosen to keep their properties instead of renting them out are finding that they must consider all of their options because of today’s tough lending standards. This seemed to be the sentiment at the Downtown Alliance of San Antonio’s State of Downtown Luncheon that was held recently as the Hyatt Regency. Centro Properties President Debra Maltz further confirmed what everyone was already thinking: that purchasing San Antonio condos in today’s market can be downright difficult.

In particular, builders are faced with new lending standards that require 70 percent of a property’s units to be sold before they can obtain financing for a new project. Because of this, many condo developers in San Antonio have abandoned condo sales in exchange for leasing apartment units. A prime example of this is St. Benedict’s on South Alamo Street. The developers of this project have switched gears from a condo building to leasable apartment units. The proposed Clay Street Flats and the Steel House Lofts have also followed suit. The Clay Street Flats project is currently on hold until the developer can secure financing.

Even those home buyers with excellent credit and a solid 20 percent down are finding it nearly impossible to secure financing in a new condominium project. Many of the condo loans are considered “jumbo” loans, as well, thereby requiring a much higher down payment. However, some developers are finding ways to squeeze past the tight lending standards and secure financing for their buyers through private bankers. Private bankers, either through the developer or the buyer, are common in many luxury condo developments, thereby enabling home buyers to avoid the hassle of securing financing through a bank lender.

Perhaps the only exception to the rule is downtown San Antonio condos. The demand for downtown San Antonio condos remains strong, thereby keeping this sector of the condo market healthy. The newly constructed Vistana, for example, is currently more than 70 percent leased. The challenges in the residential market have a ripple effect on other markets, particularly on the retail market.

Because of this, changes must be made to the struggling condo market of San Antonio so that growth in San Antonio can remain strong and the economy can remain dynamic.

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