Condo's in San Antonio

Condo's in San Antonio

Condominiums in San Antonio are a waste of time! That's what people have been telling me for years now. I started buying condo's in 2000. First, for me to live in instead of paying rent, then as an investment. I currently own 3 condo's in the same area. And have them all rented at top rental rates for the area.

I bought the first condo for $35.000 in 2000. I will be selling it this year for $95,000. That's $60,000 in 7 years for a very minimal investment. Oh yeah, did I mention I had it rented the entire time starting at $650/ mo. And most recently for $795/ mo. My total payment including HOA dues is $525.

Today there are 565 condo's for sale in the San Antonio MLS. 199 of those are $100,000 or less.

There were 926 total condo sales for 2007. That's compared to 53 total sales for 2003! Still think condo's are a waste of time?

Oh yeah did I mention that there are more luxury condo's than ever before? Today there are 56 condo's over $500,000 listed for sale.

So why is there such a drastic change? Well for one thing the economy in San Antonio is great. Jobs are getting easier to find and there are more educated people looking to find jobs than ever before. Which leads us into the main reason condo sales and prices are on the rise. The demographic of the city has changed. There are more young successful people in San Antonio than ever before. And they are coming from places where they are used to living in condo's.

If you have any questions please feel free to contact me at any time.

Tom Phillips

Realtor/ Real Estate Investment Broker

Keller Williams Realty

210-857-2375

tomphillipsrealtor@yahoo.com