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San Antonio foreclosures have augmented with added reasons to buy an abode here

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By : Iwona Filetti    99 or more times read
San Antonio foreclosures have shown a rise in numeral in the last year. This has created added opportunities for citizens to buy houses in this emergent city. San Antonio has numerous things to proffer.

San Antonio foreclosures are very lucrative for more than one reason. The employment opportunities are enormous in San Antonio. There is colossal military and air force base in the county. There are several industries like Tourism, Hospitality and financial services. The media industry is also thriving here. There are many other companies that are making its pedestal in San Antonio.

San Antonio has low cost of living, education wise it has one of the best institutes. Besides San Antonio offers diverse living conditions, one can choose rural less swarming living areas or for the workaholic the metros have ample places to choose from.

Therefore, San Antonio foreclosures are one of the best and the cheapest bet to invest in. One can save 10 to 50 percent of the actual sales price if one buys a house through San Antonio foreclosures. The average price range that one would encounter for a foreclosed home is $200,000 to $250,000.

To attract more customers, San Antonio city has various offers to make for the first time buyers. Apart from the tax credit that is being offered by many other counties in different states. San Antonio has another program under the name of Homeowners incentive program, where first time buyers can avail of low interest rates when buying a foreclosed property.

Current statistics have revealed that the San Antonio foreclosure rate has been mounting. There were around 16,000 units that were sold in December 2009. This is 30 percent increase from January 2009 data. Compared to year 2008 the foreclosure rate was up by 25 percent in 2009. More numbers are expected to be added to the current list. Moreover, there are many homes that are left to be sold from the December inventory that are to be auctioned in January this year.

The above situations are attributable to loans that were leniently fixed. Analyst showed that majority of the loans that were defaulted in the last two years were taken in the booming period of real estate that is from 2002 to 2006. Nevertheless there is a ray of hope. Forecasters have predicted that the latter half of year 2010 will ease the foreclosure rates. The economic conditions will also improve.

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