Storm Damaged and Houston Foreclosure Homes for Sale

By: Joseph Smith

The Houston real estate market is finding even more homes are the market as people whose properties were damaged by Hurricane Ike join Houston foreclosure homes for sale.

With the slumping economy and the housing market troubles, more people are seeing their homes hit the market. One group is Houston foreclosure homes for sale. Although Texas has not been hit as hard as California or Florida, the state has still witnessed its fair share of problems in this area. Another cause for the increase is the recent Hurricane Ike which did quite a bit of damage in the area. Many homeowners are skipping the repairs and trying to sell their homes so they can move on with their lives.

Despite these problems, the Houston real estate scene is actually doing quite well in comparison to other metro areas. Their number of homes on the market is about half that found in other cities, especially those hit harder by foreclosure. Plus, their price cuts have been minimal. A less than 2% drop in price was recorded between October 2007 and October 2008. Even with this drop, the housing prices are still above its normal market pricing.

Many in the real estate industry in the area are pleased that Houston foreclosure homes for sale are currently doing so well. But they caution that things go change at any time given the volatile state of the economy and the real estate market. Thankfully the market in Houston is in better shape than elsewhere in the country.

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Joseph Smith has been educating buyers on the finer points of Houston Foreclosure Homes purchase at for over four years. Click here to visit and read more advice on finding Foreclosure Homes for Sale.

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