Friday, July 20, 2012

Foreclosures in San Antonio down for year

The San Antonio Express-News reported today on findings recently released by that show the number of foreclosure's are still down significantly from this time last year.

A San Antonio-based foreclosure tracking firm, RexReport's data shows that San Antonio-area foreclosures for the time period between January 2012 and August 2012 total 9,477, down from 10,042 and 11,095 in 2011 and 2010 respectively. In August 2012, lenders will foreclose on 1,160 properties in the greater San Antonio area, down slightly from August 2011 (1,171) and August 2010 (1,255).

Why the improvement? Well, several factors play a role. The first is a general increase in sales price and listing success that has allowed homeowners to sell successfully rather than succumb to foreclosure. Job growth in San Antonio has helped to grow the market's buyer base and helped mitigate foreclosures caused by unemployment situations. Lenders are also thinking outside the box and offering alternative resolutions for distressed properties that allow owners to avoid foreclosure.

If you're interested in information about buying or selling a distressed property, contact the Claus Team and let us discuss your options.

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