Me

i am shocked with the answers i have read. not so surprised with the responses pointing out the market being "slow" or because of the exterior renovations. that much is true. and no, i don't agree with the area of Villa Del Sol being a "dump". only a person from San Antonio would recognize a water type dump since the famed Riverwalk is really murky sewer water.

the REAL honest to God reason behind the increased inventories of Villa Del Sol condos is for one reason and ONE reason only. again, you real estate agents missed the ball completely on this one.

the Villa Del Sol complex recognized the need for upgrades and facelifts to the exterior of the Complex. that being the case, it needed a method to fund the project. current condo owners who either a) lived there or b) owned one as an investment, were tagged with a ONE-TIME assessment fee of FIVE THOUSAND AMERICAN DOLLARS to pay for this facelift. almost immediately after the news of the assessment took hold, it created a sudden influx of inventories of VDS properties since so many owners became greedy and attempted to jump ship like frightened rats before the assessment was to be collected.

to be sure, the Complex DID need the improvements. but before the news of the $5000 assessment, the VDS condos were a HOT commodity and it was enjoying an upward trend in costs to purchase one.

in the midst of the assessment fee, a MUCH NEEDED change in management also took place. every business has its bad apples and VDS is no different. new marketing strategies are now in place and you'll once again see demand for these condos increase.

i'm surprised none of the real estate agents who answered didn't bring this up. - Sat Aug 23 2008, 17:16