Positive Outlook for San Antonio Foreclosure Investing- By: John Cutts
San Antonio foreclosure investing is a viable activity as shown in the positive outlook of the construction industry for the area.
A rising number of real estate development and construction firms have returned to San Antonio and have continued their projects or have launched new ones.
According to McGraw-Hill Construction, construction activity across Texas will grow to a total value of $52.5 billion as construction in all subsectors will surge.
The firm said that construction activity will grow by 6 percent in San Antonio and in four other metro areas of Texas. Austin will post a growth rate of 30 percent; Houston will post 17 percent; Dallas will register 16 percent; and El Paso will post 8 percent.
Home starts are also expected to increase to a total value of $21.8 billion, a jump of 31 percent. Non-housing construction starts, however, is expected to decline slightly to a value of $17.6 billion due to difficulties in the industrial and commercial sectors.
Because of federal stimulus funding, construction activity in the utilities and public works sectors is expected to surge by 21 percent to a total value of $13.1 billion this year.
These construction figures affirm signs of recovery in the area and affirm efforts in San Antonio foreclosure investing. Despite the continued surge in pre-foreclosures in San Antonio, house prices have remained stable in the metro area, indicating the higher level of economic strength of San Antonio.
Based on records from the National Association of Realtors, the number of properties entering San Antonio foreclosure listings increased in February. In the county of Bexar, where San Antonio is located, the number of properties posted for the March auctions increased to 1,353 units, marking a 25-percent increase from the total listings for the March 2009 public auctions.
Two residential construction activities indicating continued growth in San Antonio are the projects of TriStone Homes and the San Antonio Housing Authority.
TriStone has started building new lots on the next stage of its Laurel Mountain Ranch community in the western part of San Antonio. The homes will be sold in the price ranges of $140,000 and $170,000.
SAHA, meanwhile, has completed the renovation of its Blanco Apartments, one of its public housing and affordable housing projects for adults, children and senior citizens. It renovated the community room and lobby and replaced the ventilation and heating systems.
With these construction projects indicating confidence in the recovery of the city, San Antonio foreclosure investing is a viable investment decision.
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John Cutts has been educated in the finer points of the foreclosure market over 5 years.