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Old 08-01-2016, 08:49 AM
 
9 posts, read 7,767 times
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Hi! As stated in my previous post, my husband and I are looking at buying a townhouse in 78209. I believe the townhouses are outside of Alamo Heights but still centrally located. These townhouses are located off of Harry Wurzbach right by Urban Crest. When we met with the sales lady, we were surprised to learn that a few of the townhouses have been on the market for some time. Can anyone shed some light on this? Do townhouses hold their value in SA? Do you think these townhouses will hold their value or is the 78209 area mainly for single family homes?


Please note that this is our first home, and we are in Houston right now... so we don't know much about the San Antonio area.


Many thanks in advance!
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Old 08-01-2016, 08:57 AM
 
Location: New Braunfels, TX
7,105 posts, read 11,745,210 times
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I'm not a Realtor - nor do I play one on TV. All I can tell you is based on my personal observations of the SA market over the years. In general, most townhomes do NOT hold value - certainly not when compared to single-family homes. I've had a number of friends through the years that thought they'd "beat the system" when buying theirs, because the place THEY were buying in was SURE to appreciate. Fast forward 10 years.....most sold for less than what they still owed on it, or barely walked away without bringing money to the table. One held it to 20 years - he walked away with about $10k more than he still owed.
The biggest problem seems to be a combination of management companies and the number of units that become rentals. Your mileage may vary - but for us, we'd never consider one.
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Old 08-01-2016, 11:27 AM
 
Location: USA
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I just want to point out that the Gardens at Urbancrest are actually single family detached homes.
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Old 08-01-2016, 01:10 PM
 
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I don't think any homes in Alamo Heights have actually depreciated in a very very long time. Even if the home is an entire teardown, the land keeps appreciating.
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Old 08-01-2016, 01:30 PM
 
Location: McLean, VA
790 posts, read 1,873,577 times
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People generally do not move to SA to buy a townhouse. They move to SA to have a yard, a SFH, etc. That's my only concern about resale. There might be a smaller pool of folks looking for your type of property.
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Old 08-01-2016, 03:49 PM
 
1,807 posts, read 2,953,660 times
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Quote:
Originally Posted by austindoxie1972 View Post
People generally do not move to SA to buy a townhouse. They move to SA to have a yard, a SFH, etc. That's my only concern about resale. There might be a smaller pool of folks looking for your type of property.
That's changing some in the urban core. I can think of 6 townhome or Urban Crest like projects going on right now in the Southtown area. You have Sunglo, Lotus, King William townhomes, 2 projects on Clay St. and the last one going up around the intersection of Nogolitos and Cevallos. The townhouses at Big Tex have all been rented also. By the Pearl you have the East Quincy Town Homes (all sold), and SoJo Crossing. On the east side the Residences of Hays Street Bridge are being built. Last you have all the "modern" townhomes that Terramark has built around downtown.
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Old 08-02-2016, 08:04 AM
 
Location: McLean, VA
790 posts, read 1,873,577 times
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You have a good point -- I do think things are changing. For the long term, though, my money's on SFHs.
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