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Assessing the Foreclosure Market in Texas



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By : Karim El Sheikh    99 or more times read
With over hundreds of thousands of square miles in Texas, finding foreclosure home is not a problem. The foreclosed home market in Texas is booming. And there is good reason why. With many families downsizing and major bank anxious to unload their already crowded books itís no wonder why. Although one has to still do their research when seeking a foreclosed home in Texas. Below are the top three things to look for in a foreclosed home in Texas.


The price of the Foreclosure

When one looks at a foreclosure, the most appealing is the price of course. It is far more less than a traditional home. The going average for a foreclosed home at time of writing is 139,825. Now this is not the set number for these types of homes in Texas. But this number definitely offsets traditional housing prices.

An individual is able to locate a three bed with two restrooms, by the beach, for less than $100,000. For those who have more capital, a three bed three bath is within reach for under $130,000. The investor must also understand that land in Texas is relatively cheaper than other states in the US.


Location of the Foreclosure

Although Texas is a sprawling state, it has faced its fair share of market woes in its regions as well. For those who like to live the city life in Texas, there is no shortage of homes to choose from; from the beaches of the Gulf of Mexico to the state capital and beyond. Some states may have foreclosed homes by city or certain neighborhoods.

Houston for example, the fourth largest city in the US, has homes in its famed Galleria area in foreclosure. This is a plus for would be home owners due to the fact that the area is synonymous for high priced homes.

The laid back of San Marcos has homes for even lower asking prices. An added benefit is the city being located between two major cities, Austin and San Antonio. And foreclosed homes are not located in just seedy areas. At least three cities in Texas with foreclosures have been rated as great cities to raise a family in the previous years.


Process of Foreclosures in Texas

Every state has mandates and laws that govern as to how to attain a foreclosure. In the state of Texas it is no different. Texas is known for following the title scenario. This means that the house is owed by the bank or loaner until full payment is due.

This is still a benefit for the buyer because this takes the middle out of the equation. In most cases it is good to seek out just who is the primary individual on the account. Add to the fact that the holder may be open to negotiation since the home is foreclosed.

Many are drawn to Texas for its relatively low real estate prices. But what many do not know is that Texas is also home to many beautiful and affordable foreclosed homes. Thousands are being sold weekly through various outlets. The time to buy a beautiful southern home is soon.
Foreclosure.com is one of the top resources for foreclosures, preforeclosures, rent to own homes, and short sales. All designed for homebuyers and real estate investors.

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