San Antonio Foreclosure Homes are the Answer in the Alamo City

By: philip smith

How can a buyer get a real advantage from San Antonio foreclosure homes? How can a newcomer to the Alamo City get better value in the real estate hot spots of the west side?

An attractive, livable city with a comparatively low cost of living, a big metro population (just under 2 million) with a small town feel according to its residents, San Antonio and Bexar county appear to be immune to the national housing bubble. The San Antonio area housing market is doing well by historical standards; single family home prices have appreciated steadily but at rates much lower than the national rate. And the current rate of appreciation is similar to the "normal" rate of the last 15 years.

With steady job growth and low unemployment, San Antonio remains one of the strongest housing markets nationwide. Winter approaches and San Antonio's real estate market is cooling because of national pressures on lending standards, it's a lot harder for home buyers to qualify for find a loan, and that's removed many would-be home buyers from the market..The current market is stable although a little sluggish, with average sale price for most recent sales of the single family detached home: recorded at $191,316. Current housing inventory levels are about 33 percent higher than they were at this time last year. The inventory is so high that San Antonio is on the brink of becoming a buyer's market for the first time in years!

San Antonio has a strong rental market from the nineteen colleges and universities, the health care sector, four significant military installations and growing relocation jobs.

Buyers looking for value in a family home or an investment property will have a little more power on their side through the coming winter months, but the real power to be gained comes in the lesser known but well supplied foreclosure market. Foreclosures filings are slightly up in Bexar County with more than 6,800 properties in some stage of foreclosure this year, marking a 5 percent rise over the same period last year. The average loan going into foreclosure this year was taken out by a homeowner in the early part of 2002; opportunities will exist to buy homes in pre foreclosure with some level of equity.

Philip Smith is the writer of http://www.ForeclosureConnections.com. Your Source of San Antonio Foreclosure Homes online.

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