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Foreclosed Homes for Sale in San Antonio Getting Some Competition

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By : John Cutts    99 or more times read
Commercial property foreclosures are competing with foreclosed homes for sale in San Antonio and in the rest of Texas in terms of rising levels. The coming May auction will include some high profile industrial structures, including shopping centers, apartment buildings, a college campus and undeveloped properties.

Although the combined total of commercial buildings and foreclosure homes in Texas for the May auction declined in the Central Area, the high level of foreclosed commercial properties is something not usually seen in the state.

As reported by firms that compile foreclosure houses lists for investors, around 20 commercial structures will be available for auctions come May 4, 2010. These properties have an estimated original loans worth of over $320 million.

Property market observers were unable to form a conclusion with regards to the sudden surge in commercial foreclosure numbers. According to them, it could be a glitch or can be a sign that the future of commercial properties in Texas will not be too good.

Realtors were thrown off by the diversity of properties that are up for auction in the coming month of May; from foreclosed homes for sale in San Antonio to office buildings to subdivisions, market observers were unable to identify a definite direction or trend for the market based on available data for the first half of 2010.

Meanwhile, some real estate analysts have focused on the role of banks in the current commercial and foreclosure homes in Texas trend. They speculated that most banks have decided not to extend loans on properties facing foreclosures, something that they have done more often in the previous year to avoid reducing the value of properties and homes in their books.

Industry observers further added that if this is the case, then it could be that banks’ portfolio and balance sheets have strengthened in the past year which enabled them to take such actions and absorb losses.

With regards to the future of the state’s commercial property market, analysts are expecting office buildings to encounter more difficulties in the coming months than apartments. According to them, it is highly possible that rents could decline further, which means that the problem of foreclosed homes for sale in San Antonio and foreclosure in general is far from over.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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