The Real Estate market in Texas continues to grow with many houses for sale. Many of these houses may be purchased far below market rate due to the large amount of foreclosures still available in the state of Texas. Two major cities have a large volume of homes currently available. In the capital city, Austin foreclosures continue to thrive. In addition foreclosures in Houston keep the city among the top in all Texas cities. With one in every 819 homes in the foreclosure process, the state of Texas has plenty of opportunities for foreclosure bargains.
Cost of Living and Job Market
The cost of living and job market currently in Texas make it a prime choice for buyers to choose whether it is for relocation or pleasure purposes. In Austin, the cost of living is 15% lower than the national average and Houston is over 22% lower. This means when you purchase from the available foreclosures in Houston not only are you getting a home far below market rate, you are also significantly decreasing living costs after you move. Austin foreclosures give homeowners the luxury of living in a capital city without paying a large amount of capitol. The beauty of these two cities is that houses for sale throughout the metro areas mean you can live near an urban environment, but wake- up every morning to the beauty of the trees. In addition to the low cost of living, the Texas markets have good job markets in many different sectors. Whether your job involves education, technology, manufacturing, or retail, these Texas cities have available jobs for new home owners. Another unique reason for moving to Texas is the lack of state income tax. With these factors you can make more money, spend less money on taxes, and get a bigger bargain with the money you spend on your home when you purchase a foreclosure in Texas.
The median price of houses for sale in the Austin area is just over $130,000, a $5000 decrease compared to this time last year. If you choose to purchase an Austin foreclosure property, you will surely get an even larger discount from the market sales price. There are currently over 6100 foreclosures in Houston, with more soon to be on the way. This may explain why the current average sales price for homes in Houston to be just over $82,000. No matter what price range or metro area, the state of Texas is offering outstanding foreclosure deals.
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Written by Alex Rolim.
