The number of homeowners in the San Antonio-New Braunfels area who owe more on their mortgages than their homes are worth has steadily declined since the start of 2010.According to CoreLogic's 2011 first quarter report, only 9.2% of the area's residential properties were underwater. This percentage includes 30,837 borrowers, less than 2010's 34,218 borrowers equaling 10.4%. And additional 18,914 borrowers were within 5% of becoming underwater, still don from 5.2% compared to last year. San Antonio's underwater statistics are great compared to the rest of the nation which have 22.7% of properties underwater. Las Vegas alone has 66%. In Texas overall, 10.1% of properties are underwater, down from 11.8% the year before.
The reasoning behind these numbers is that much of the financing tactics that were taking place in the rest of the nation during the housing boom did not happen in Texas. So the state hasn't seen as much decline as others. Texas residents also benefitted from the strict requirements on home-equity financing. Borrowers couldn't take out home equity loans larger than 80% of their homes' values. CoreLogic says over 40% of underwater properties have home equity loans.
San Antonio is a beautiful place to reside. It has so much to offer from great neighborhoods such as Stone Oak and Dominion to family attractions,culture, nightlife and more. If you're looking for a stable area that's not affected too much by the real estate situation these days, moving to San Antonio or New Braunfels might be a great idea. To make move a little easier on you, check out some of the tips and moving checklists provided by the San Antonio movers. All My Sons of San Antonio moving is a professional moving company with generations of moving experience. We're part of a large network of reputable movers across America. Our San Antonio moving specialists with quilt pad wrap your furniture protecting it from damage.We'll help you assemble and disassemble your larger furniture to make the moving easier on you and your family. For professional moving supplies such as moving boxes or wardrobe boxes and moving kits, you can visit AllMySonsMovingSupplies.com for easy and convenient delivery to your home. With San Antonio movers, you have nothing to worry about!
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