Benefits of San Antonio foreclosure Homes Which Are Showing Positive Sign for Buyers over Sellers
San Antonio Foreclosure Homes are increasing and the realty market trend in early 2010 is that buyers have an advantage over sellers.
San Antonio is famous for its River Walk, The Alamo, Tejano Culture and is home to Sea World. It is visited by 20 million tourists per year.San Antonio has a strong military presence and it is home to four military bases.
Buying San Antonio Foreclosure homes is an attractive idea. With a population of more than 1.2 million people, San Antonio is a massive foreclosure market. The gigantic area as well as the rush of people means huge foreclosure opportunities for investors. San Antonio offers investors and buyers the best of Southern hospitality and charm. It is also a vibrant city that draws tens of millions every year to its shores.
Spurred by an up to $8000 first time home buyer Federal tax credit program, San Antonio’s real estate market experienced a high buying and selling season in fall, 2009. But the market slowed down through December and January and picked up dramatically in February 2010.
Experts feel that San Antonio Realty market is witnessing a brief home value depreciation cycle and will soon be followed by the region’s steady prices. Yet San Antonio is sensitive to negative economic trends. Last year the market was flooded with San Antonio foreclosure homes. But there are positive signals too. The new federal cash incentive programs are expected to spur buying and selling activity.
Look at the figures for San Antonio single- family detached home listings as of March 2010. There are 11,476 active listings compared to 11, 958, a year ago. There is a rapidly rising inventory which is a good sign for home buyers.
The average sales price for recent closings is $169, 717 compared to $178, 320 last year. It is pointed out that the unusual decline in average sales price has been influenced mostly by the buying of a large number of cheap properties by home buyers making use of the home buyer Federal tax credit programs. It is certain is that the trend of decreasing sales price is a good omen for buyers.
Industry analysts sense these trends as those favoring buyers market over sellers. Thus San Antonio foreclosure homes market is favoring buyers this season and showing positive signs for them.
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ABOUT THE AUTHOR
Iwona Filetti is a writer with an eye for detail. She writes on several niche after a thorough research and understanding, her motto is to give beneficial information so all sections of society benefit from her writing. For more details please visit San Antonio foreclosure Homes.