Hitch Up to a Star in Houston Foreclosure Homes

by : philip smith

Buyers wanting highly affordable single family homes within the city limits will have their best reception from owners of Houston Foreclosure Homes. There are over 11,000 foreclosure properties listed in this vast city this fall. Those home owners who have suffered most from imprudent borrowing against their homes are definitely those in the lower income bracket; there has been a flood of homes in the $80,000 to $150,000 price range coming onto the market. This really does help a buyer make his money go even further. The average price for a single family home in the traditional real estate market in August was recorded at $216,000, up 8.1% from the previous year. There was 6.2 month's inventory of active but unsold homes and although this is slightly higher than the previous year, the market is still favoring the seller. Buyers keen to exert more influence over value for money will fare far better purchasing from among the foreclosures in many desirable city neighborhoods.

In sunny Houston the real estate market remains healthy. House prices continue to rise steadily and the unemployment rate continues to drop. Houston, along with Austin, is a Texas city attracting private sector workers, a growth rate leader in the nation. Against the trend in all other large metros, Houston retains a comparative advantage in affordable housing costs. Add a spectacular diversity of lifestyle offerings along with abundant recreational facilities, parks, water covered acres and a well supported performing arts scene, and who, when given the chance to relocate, could ask for more?

If you are looking for a less maintenance/more weekend home, townhouses and condos averaged around $158,000 in August. Choose this lifestyle from among foreclose homes and you can expect to negotiate savings of up to 28% (going by the year to date actual average). Affordable large city housing just got unbelievably more so! A preliminary look through Houston foreclosure listings will prove to you that it is possible to find foreclosure homes in great communities that need little more than some relatively unskilled labor to restore their appeal. If you are new to this market, make sure to work as a team with a local agent who will be able to guide you through the specific issues of pre foreclosures or bank owned property. After all, if you end up paying for a foreclosure at or close to full market value then it should be your informed decision, having understood the basics and considered all choices. Pick your location well, then hang around a couple of years and hitch a ride up in Houston.